3. HRSR 05-16-2005 - Laserfiche WebLink

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EXHIBIT B PERMITTED ENCUMBRANCES That certain Minnesota Housing Finance Agency Low and Moderate Income Rental Program Regulatory Agreement, of even date with the document to which this Exhibit is attached, by and between MDI Limited Partnership #70, a Minnesota Limited partnership, as Mortgagor, and the Minnesota Housing Finance Agency, as MHFA, which will be filed in the office of the in and for the County of ,State of Minnesota. 2. That certain Minnesota Housing Finance Agency Low and Moderate Income Rental Program Assignment of Rents and Leases, of even date with the document to which this Exhibit is attached, by and between MDI Limited Partnership #70, a Minnesota limited partnership, as Assignor, and the Minnesota Housing Finance Agency, as Assignee, in an amount of and No/100 Dollars ($ ), which will be filed in the office of the Minnesota. in and for the County of State of 3. That certain Master Subordination Agreement, of even date with the document to which this Exhibit is attached, by and between the MetroPlains Development, LLC, a Minnesota limited liability company, as Developer, the Minnesota Housing Finance Agency, as the MHFA, and MDI Limited partnership #70, a Minnesota limited partnership, as Mortgagor, which will be filed in the office of the in and for the County of ,State of Minnesota. 4. A $200,000 mortgage to the Greater Minnesota Housing Fund A Mortgage from securing Bonds from the City of Elk River (TIF) 6. A Declaration of Land Use restrictive Covenants for Low Income Housing Tax credits (sometimes referred to as the Extended Use Agreement, as required under section 42 (h) (6) of the IRS Code) to be recorded after construction is completed.