Loading...
HomeMy WebLinkAbout2004-05-10 04-146 ORDERCOUNCI.ACTION SUSPENSION OF THE RUUF Item No. 9-19 Item/Subject: ORDER, Authorizing the City Manager to Exegete All Documents Necessary to Implement Development Agreement with Penquis Family Housing Associates Limited partnership Council Order 03-339 passed by the City of Human City Council on October 27, 2003 authorized a Development Agreement with Penquis Family Housing Associates Limited Partnership. The Developmmt Agreementprovidesthatrhe Cityshalllomupm$130,000ofC unity Developmmt Block Grant finds to Pmquis Firmily Housing Associates Limited Partnership. The fulls are to be used for property acquisition. When the City and Penquis Housing Associates Limited Partnership closed on the loan to finance the acquisition, an error in the paperwork resulted by Penquis Housing Associates Limited Partnership conveying the property, to the City arM executing a mortgage deed and promissory vote for the loan. To correct the error the City needs N convey[he property back to Penquis Family Associates Limited Pamoreldp, the City needs m discharge the original mortgage and Penquis Family Housing Associates Limited partnership needs to execute a new mortgage died. This Order subsumes that and the execution of my other documents necessary to implement the Development Agreement between the City and Pmquis Family Housing Associates Limited Parmerstvp. Budget Approval: Legal Approval: Nuance Director City Seldom Introduced for Consent Agenda X Passage _ First Reading Page 1 of 1 Referral SUSPENSION OF Site RULES oaua Assigned b Gu ilor C •, bra'.. CITY OF BANGOR (TITLE.) ORDER, Authorizing the City Manager m Execute All Documents Necessary to Implement Development Agreement with Penquis Family Housing Associates Limited Partnership ay Me Aty[ nal of the GRy af9anga: ORDERED, WHEREAS, by Council Order 03-339 passed by the City of Bangor City Council on October 27, 2003 authorizing a Development Agreement with Penquis Family Housing Associates Limited Partnership; and WHEREAS, the Development Agreement provides that the City shall loan up to $130,000 of Community Development Block Grant funds to Penquis Family Housing Associates Limited Partnership, said funds to be used for property acquisition; and WHEREAS, when the City and Penquis Housing Associates Limited Partnership closed on said loan an error in the paperwork resulted by Penquis Housing Associates Limited Partnership conveying the subject property to the City and executing a mortgage deed; and WHEREAS, to correct the error the City needs to convey the property back to Penquis Family Associates Limited Partnership, the City needs to discharge the original mortgage and Penquis Family Housing Associates Limited Partnership needs W execute a new mortgage deed. THEREFORE, by the City Council of the City of Bangor, ORDERED, THAT the City Manager Is hereby authorized and directed, on behalf of the City of Bangor, to execute a deed to Penquis Family Housing Associates LP and discharge of mortgage, and accept a mortgage deed to the City securing the existing promissory note given by Penquis Family Housing Associates limited Partnership to the City, and to execute and accept any other documents required to implement the Development Agreement between the City of Bangor and Penquis Family Housing Associates Limited Partnership. clxs lDwCTI. 10. 2004 fon Made and Secaoded t soder Cowell Ordex 004-146 r Suapeasiw of the eines es Suspended aw blade and Seconded # 04-146 O MOeM (TRLE,) Authorizing the city Manager to fisecuce Nacumunts Necessary to Imp emegt llevelopment Agreement etchYaequis Partly Assigned to Councilor Wr146 SUBORDINATION AND STANDBY AGREEMENT This Suboxdimotion and Standby Agreement (the "Agoacumtj is entered into by, bemem sand among City of Bangor, a Maine miumpal corpotation with a matting address of ]3 Harlow Stem Bongos Maine, 04401, (the "Cit}+), Maine Sere Housing Authority, a public body, coTpo wad politic and iasnumenmlity of rhe State of Maine svnh a mailing address of 353 Water Sweet, Augusta, Maine, 04330-4633, ("MSHA'), Pmquis Family Housing Associates Limited Parmetsbip, a Mame Unused permctship with a mating address of 262 Harlow Stent, Beagox, Mauve, 04402, (rhe "Unused Parmaship'%Pmquis C.A.P., Inc., a Maine nonprofit corporation with a mating address of 262 Harlow Sleet, Bangor, Maine, 04402, ('TCAP"), and Northern New England Housing Iwestment Fund (formerly known as Maine Housing Investment Food), a Maine nonprofit coxpotaaon with a marling address of 183 Middle Stme4 Y Floor, Portland, Maine, 04101, In m,s Aendov of a loan made by MSHA to the rmv. Partnership no even ox neat date herewith for the peonanent Imancmg of the acquiudoo and construction of a cemia 16 -unit residential rental property located at or near 165 Griffin Road in Bangor, Penobscot County, Mame, and more - porocalarly descubed is ExlibitA attached hereto, (the'Ttojece) and the mutual obligation contained herein to establish the telatvc tights, priorities and obligations of rhe panes hereto, and for other good and valuable consideration; rhe re<upt and sufficiency ofwhich n hereby acknowledged, MSFFA, case City, du Limited Pasnetshtp, PCAP and NNEHIF agree as follows: 1 SnruotLoans. MSHA has made melons in the aggregate ptindpal amount of $1,645,000 to the Limited Parrnaship on c7m or nect dare herewith (collmtivelyrhe"Senior luaus'), which are rnidenced and secured by a ctocon replacement cunmimamr Inter from MSHA dated May 18, 2004 as modified and accepted by the limited Patmeedup, a certain Promissory Nae in the original pmcipal amouht of $145,000 peen by the Limited Partuership to MSHA of ever or near dare haeaith (rbe"145,000 Senior Noke) and a cettai s Mottgag and Security Ageemme and sociared UCC -1 Fisting Stalesnaz Stalest of even or edare herewith gives by rhe Urrdvul Parnaship to MSHA as security fou the $145,000 Smote Notf (ibe "$145,000 Senior. Mortgage'), a - canon Deferred Psymeat Psomiseory Note in the origuil.punapd amount of $1,500,000 given by the Limited Partnership w MSHA'of eves of neat: date herewith (the "$1,500,000 Smioz Note) and eves or near date h=ewith given by the limited Parwadep to MSHA as secutity certain Deposit Account Coatol Apeemeat(s) by and among the Limited Parmersbip, MSHA and the deposiwry(vesJ or Bnanciil mmmtim(s) holdiang rhe deposit accounts o£the Devdopmmt a ceuam Financial ntnance Ageemeot by and betwem the Landed Pa nership and MSHA dated May 18, 2004 to be recorded herewuh (the "Fianaudal Assistance Agre®enC), a certain Reg.tztory Agement by and among MSI ,the Limited Pennership, Pmquis Development, Inc. and PCAP of even or nesr date herewith, a tannin Deduction of Covenants, Conditions and Resmcmns by and bemeen the Limited Partnership and MSFIA of even or near dare herewith w be recorded Mauve State Housing Autrouty Subozrtinadon and Standby Ages ment Page 1 of 10 bereirna (the"Declaranou of Covenmu'), a ce nus Opemnng Deficit Account Agreorent by and between the 1. _. .Pattnaship and MSHA ofeven ox been date huevitb, a ceamin incomplete Work Escrow Agreement by and between the Limited Parmusnip and M IRA of even or nest date herewith, a cendn Fair Housing and Accessibility Acts C fkation.by the Incited Patmershipm favor ofMSHA ofevev ox neat date hexewitle, a certain Estevded Low-hucome Housing Commitment Agreement by and between the limited Pum csUp and M&AA of even or neat dace herewith to be treaded herewith (the "Psteuded Use Agteeeene), and all other seenew:7 msnureents and documents vow of hereafter executede Connection with theL m(collecu ly, the "Sumo[ Loan Docammtsy. MSHA reprumtsthatas of the date of this Agxeemevt the Senior Loans axe not evidenced or secured by any docatconts orivmummd other than the Scour Loan Documents. The parties to this Agreement hereby consent to the Senior Iums and the Seaiot Loan Documents, except that my before advances undo the Senior Loan Documents ate subject to the Ciq+s approval Notwitbstmding she foregoing, MSHA may make protective advances unlit the Senior Loan Documenta to protect MSHA's secvuty interest in the Project and the collatexd desmbed in the Senior Loan Documents. 2. Subordinate Lonna The City, made a loan an the original pmcipel amount of $130,000 an the Limited Parmuship on or about Apn130, 200# (the "Sub uchisa a nano'), which is evidenced and secured by a because Prowssary Note and Agreement in the original pnnupal amount of $130,000 given by the I noted Pacmership to the Oty dated Apel 30, 2004 and a cecmin Mortgage Deed, Security Agreement, Financing Statement and Assignment of Leases given by the limited Partnership to the City dated May 12, 2004 and tecorded in the Penobscot County Registry of Deeds in Book 9327, Page 234(co➢ectively,the "Subordinate Loan Documents'), The Oty xepresents that as of the date office Agaument, the Subordinate Loam is not evidenced or accused by my documents or iwnumevb other Nan the Subordinate Lists Documents and that the Suboadwate Loan Documents have not been assigaW w ox subordinated m Isaac of any person or funny, and agrees not to assign, tmsfer or subofdinuc my not or imtexut therein without nodfying MSHA, 'fhepuneswtbu Ag mtherebyconaentmtbe Subotdinatclo =dthe Subordinate nam Dome MS ecceptteatmyfumxe naundue rhe Sebadivreinan Domemw rs me subject MSHA's pea wdttm approval.l. ' 3. Right of First Refusal; Option to Purchase. The fimtred Parrneaship has granted a right -- offns[oc ushl and option to pacbaaethe Project toPCAP and NNEHIF subject to and in accordance with the temas and continues of a osubut First Amended and Restated Limited Parmetship Agreement of Penyuis Family Ho sung Associates Limited PaceneuMp dated as of May 18, 2004 and a counta Right of Fuat Refusal by end among the Limtted Perenersbtp, PCAP and NNEHIF dated May 18, 20M and recorded m the Penobscot County Registry of Deeds at Book 9345, Page 177 (colkcdvdy, tbc'Purcbase Rights'). The LwitW Pazmership, PCAP end NNEHiP hereby represent that the Pachase Rtghti are not evidenced by any document or ficurnmmt other then said Amended and Restated Limited Partnership Agreement and Right of Feat Refusal and have not been assigned to or subordinated in favor of say person ox entity other than as paraded herein, and agbees not to assign, transfer or subordinate such Purchase Rights wi lion notifying MSHA. Mauve State HwaingAuthovty Subordination sod Standby Agaecamt Page,2 of 10 'rhe usasfet of the Projenr and the transfer of wisest m the Limited Pumersbip contemplated by the Purchase Rights ere subject to M 's prior wduen approved, which MSPIA is -p gmna gat this tins, PCAP and NNE£ +shall not assign, ttmsfa,hypothscare of orherarse dispose of the Purchase Fights, inducting any interest therein, without the prior written nodce to MSHA. 4. Subooinaeon. T1te pamesto dais Agreement hereby, agree as follows Debt. The Gty hereby agees that the indebtedness and obligahans of the Subordinate Iuae and the Subordinate Lan Documents, inducting sit exrevsiovs, rme , mo&fimtoas and mbstwoons dvowf and all Untie advances thaemdu, and ell orha present and future indebtedaas and obtigatons of ted Pa crdup to the City (dere `Subordinate Obhgadoneshall be end u hereby albotd®ated to the mdebvdness and obligations of the Senior Loans and the Senior Loan Documents, including any extensions, xmewak and modificadom and subdmiaons thermf, any, future advances pursuant aherew approved by the Gty in acoaN cc withthis Agieement, ah reasonable costs of collection and enforcement t6aeofivcludivg reasonable attorneys' fees, and 0 other present and future indebtedness and obligations oflimired Paz sbip to bCS (the "Savior Obli urns'). b. Id"s. the City hereby agrees there rhe lien, secvdtyivtuuts and collateral evidenced by the Subordinate Loan Doctun nts and all other present and future liens, catty intererts and collaeetd swuring the Subordinate Obhptovs shoo be and is hereby subordinated to the lien, security ivrmests, collateral, restrictive covenants and eacutnboneezo evidencsl by the Senior Loan Docammn, as same may be extended, modifid or reo]aced, and all other pre eat and forme liens, secadty mtuests, collateral and mcumbrances=enden,mg or secomg the Semol Obliganoas, MSHA Affordability Cto,en au. ne partes m dais Agreement bueby agree that their respective loans and enambfmcu on the Pvnam including without limitation, rhe Seniot Lav Documents, tae Subordinate Lev Docmnenrs and the Pi tchase Rights shah be and are hereby subordinated to the Pttended Use Agreement and the. Pwandal Assistance Agxeementznd that the Subordinate Linn Docummb and the Pucbsse Rights shill be and are haeby, subordinated to the Declaration of Covrnams. d Pur b== ghn. PCAP and N LP hereby agree that the Purchase Rights shall be and are haeby subordinated to the liens, secotty mtuests, collateaL testdctive covenants and mcunbtanrzs evidenced by the &odot Loans, Senor Lm Documents, the Subordinate Lour andrhe Subordiaste D Documents, az same may, be extended, modbid or replaced and to 0 other present and hanne bees, smarty interests, whsteril or tacumbrances evidmciug or securing fof the Senior Obhgatwm and rhe Subordinate Obligations. Mvae State Housing Authority Suboxdmatiou sad Standby Awe®ort Page 3 of 10 el Effect of Subordivatm. The partes hertto egtee ro tie foregoing subordination whether before, after or during aay Pending bankrus reorganvs.mn or other ierolvmry proceeding and tegazdless of the fire, and order of the gaucng or delivuy of aay krn, secursty interest,co➢aceml or mcumbeance, recording of my country instrument or(ding of any finanang statmen5 and regardless ofwhea advances of loan proceeds are made to the Lwited Parmash p. 5. Priority of Loans a Encumbvances. The parties to this Ageemmr hereby agree at 0 crass, whether before, after of dutag any fussing bstchruptroy or other insolvency proceeding, and nouxudr anding the pnottes which would ordinarily resnlr horn the order of the ganging ort recording of any lice or encumbvnce or the filing of any boavaog strubb nn or liens and regudleas ofwhee advances of hands me made to the limited Paztnusbip, the relative priorices of the hews and encurabances of the patties with respect to the Projxr shah be as follows: Extended Use Agcemeot Pint Prouty Pinaaazl Assistance Ageement Second Ptionry $145,000 Senior Mortgage Font Lien and Third Ptiotity $1,500,0005eaiot Mortgage Second lona and Fovnh Prouty Declaration of Coveoann Pffls Puvuty Subbrdinate Mortgage Tbitd Lien and Seth Pnotty Purchase Rights Sevmdh Pnmty 6. Standby; Limit on Right of k. Subordinate Loan. The Cory shall not, unless and cool all the Senior O64gauovs are fully paid, satisfied and perforated and all fivanang artevgmtean by and betweca MStiA and Limited Patmenhip have been teanlvated, take any of the following actions Acordenre, request, demand, alae, accept or rpceive from Or of behalf of the Limited Partnership, by sero£( or in any mzaner, any amomtarepreseat rg 0 Or: any'part of the Subordinate Obiigamns - - - Initiate or pactidpare mors others m any suit, Acton or Proceeding including, without tmimtioa, nay bankruptcy, reorganization or croolveacy proceeding against the Gmied Paammship to enforce orueatize upon the Subordinate Ob4gan ns. hit. Repossess, foreclose upon Or otherwise take any action against, or exerase any emedies with respect on aay secutty interest or Cohateml se^'^"g dl or any pan of the Subordinate Ob4garioas, i nchhdiag, without limincm, notifying account debtors of the Limited PerowashT unless and mail there is a default of she Subordirute Loan Docummn antl the City gives MSHA notice and oppontmity to core such default m ucordance mirh Section 7 oftbis Agrecmenc Maine State Housing Authority Subordination and Smr@yAge®evt Pa 4ofh0 le Request demand, rake, accept orreceive any secnuty interest or colhreml for the Subordinate Obligations, othec tam security interests and collateral that are () desmbed m the Subordinate Lam Docuonmq (h) apt sed to on turning by MSHA, and (m) expressly subordinated to MSFWs limn, security mtereen, collateral and mcumbrances evsdenang and securing/for the Senior Obligations. Aey payment, security or mllatual received by the City for or on account of the Subadivace Obligamns in violation of this Agteemma sball be delivered to WRk in precisely the forma meneved(acept for its mdoxsemmr where necessary) for application on accourat of Limited Parmership's indebtdnns and obligations to MSH and, uvW so delivered, rhe same shaLL be held in Host by the Gay for the bmeSt of MSHA. be the event the Gty fails to endorse any inamwmf for eery payment an received MSEIA n hereby rosentzably constituted and appointed attorney-in-fact for the Gty vara fu¢powet to make such mdotsement and with full power of mbst nhtioe. If the Qty shag m vrolatiov heseof, commence, prosecute or participate or my suis arnoa or proceeding or sl>aU teyuest, demand, accept or receive any payment or shall anempt to enforce, foreclose upoo or rdize upon my seemty interest and coUrstexal cuing the Subordinate Obaptiom, MSr may interpose as a defense the toms and conditions of Itis AgreemmS and MSbiA may intervene and mompose such defense in rts name or m the name of the limited Pxrmemldp. b. Pmcaseeglda. Avy naysfer oftitle or intoeirw the PmjecS mduding without4mitetiov the nansfer contemplated by the Purchase Right, is subject to one prior mtitrev approval ofMSHA andthe City Notwithstaadingmyabivgwo cono-gcontaivedh=,MSHAmdthe Gtyhave not conseated to or approved the transfer coatemphtol by the Purchase Righm the grant of the Purchase Rights shall not imp= or restrect WIWs or the C'ty's fights and eme&es trader rhe Senior loan Dowmenn and the Subordinate lona Docvmme, indudivg virhout lwitatiog the vat to demmd Evil payment of dae Smivx Loans and rhe Subordinate Iran upon any sale or eanafer cfthe Project or any interest in the Project. MSfiA and the Gty may, at '.sect timer and from time to done, mor into agrewmts with the Lmiod Parrntrship to extend the e ofpaymenSrmewo, othexrdenor fficrhete®softheeolla Loaysmdthe SeSerdivam anon a obordgna release, asurxmdu or otherwise deal with the ungffie secvdng the Sevier enays and rhe Svbordimce Lem wimont w anyway wpeirivg or a£fecmg tse revs of this Agreement. -7. Nonce of DefaWS Oppommity to Cure. The Gty hereby agrets to give mown notice of .any d&Wt of the Subordinate lom Documents and all othu instruments and documents eeemred er ovation runh the Subordinate Lom to MSr in mcoxdance with Sector I I of [hiss Ageemmr. MSH shah have sony(60) days after receipt of my such notice of defaWS which receipt shah be deemed to have occurred no firer then daee (S) days afro sock nonce is rent ia. accotdance with this Agreement, to are 0 defauln idmtbed is the notice. no City agrees to Milnecreta Hootingy landSandby Ageemm< Ingesafo - accept all commove arts of all other patties to flaw; Apeeme rt as ifpetfomed by the Limited Partnership.. S. Proceeds; Awards. Should dere City receive any payment, secotity, insurance proceeds, awsads or damage for Wong order the power of eminmr domain or by condemnation, mdudiug, runabout limimtim, damaps for chmging dte Bade of any public way so as to affect the Project, or any rrber awards, senlemdnrs, damages or proceeds poor m sne saesfacaon of the Savior Obligsvons, then dere City orifi foddwith delivu the same to MSHA, to preasely the form received (except for themain evx of rhe parties where necessary) for application on accomt of are m liited P"mership'ssivdebtedness and obligations to MSHA and, until so delivered the saxne stall be hold in trust by dao an, for the benefit ofMSIVt. M IU,, in its sok discretion, may apply Any insursornae ptoceseds or eminent domain or covdwnation awards received by MSHA or made available to Limited PaamtrArT for mplacemenk iepah or xeconsmcmv of the property damaged or on Dunn of I red Pumesbip's obligations As MMHA. In rhe event the City fails to endorse any ivstmmevt for any payment so received, MSHA is bereby irrevocably cos somted and appointed attomey-m fact for rhe City with fall power to make such mdoxseminS And with full power of substimtiov. 9. Bankmpicy; Insolvenry. In the event of any receivership, insolvency, bankruptcy, assignment for the benefit of orators, rndjurtm®t ofindebredvess, cdmposiuon, reoagadaation, subscriber or not pursuant to badmpmy laws, rale of all or substantially all of the assets, dissolution, winding up, liquidation, or any other marshalling of the assets and liabilities of the Lvnited partneaship, th® any payment or distnbvtiov of "errs or other property of doe Limited Partnership, which would otherwise be payable to or dekveralsk upon or with repectm the Subordivte Obligations (iaduding, without limitwtx , payments to provide adequate protection to the Gty or to eimborse the City for lost opportunity costs or less of time value) shall be paid or delivered ditectly to fox applicator on the indebtedness darn and thereafter owing to MMI -IA until such ivdebredwssshsllhavebe® ypaidaadsawfiW MMHA shall have the right to indorse, collect and receive every such payment or durribution and give acquatmce theeforr, and MSHA is hereby troamoubly motoo aed,As ammey-th-factfor the City to vote and prove the Subordinate Obligadovs, and m otherwise protect the interests of the Cry m any of the above-described proceedings or any meeting of auliurs of the L®ited Pa uneahip relating thereto, tithe Qty does not do so in a timely roamer, provided, however, dot MSF shall have no obligation to vote, prove of act math respect to such clauns 30. RemMivg; Famther Assmmces. 1] repattiesagxee�tthis AFeemevtmaybexecoided in the appropriate Registry carry out th and filed an the office oftbe Maine Seat more eStare," Appropriate. In other e carry our the tams and the intent n dto Agrecmenx more ests so; MS the parties Apee o execute and deliver aUrxssfarrier nsmmevs and m take at of actions"MSI-IA dnermives are necessary m evaure or preserve the provisims and intent of this Ape®evt. 11. Notice. Any noticendemand xequrzed or provided foxadvsApeemevt shall be th' waling and shop be deemed to have been sothdmtl, given fon all putposes, except as provided Maine State Housing AuAoriW Suboadwadon and Standby Agreement Page 6 of 10 hear, whenhand-delivered or mailed by cetrified a agismeed United Stat« mail, postage prepaid, return eeceeipt requested, to the patties at taxi[ respeeuve addresses fiat set forth herein, or at such other addtess as any of them may from time to time hereafter designate by notice given to the other Panne, as herein provided. V. - Miscellaneous. IL Thin Agreenent sball supersede any contrary or cra icing sews and conditions any other document of instrument to the extent such terns and conditions are contrary or in conflict with the proviaon hereof b. The parties to bis Agteenaeatbare all requisite power and legal right and ate duly autbovzed to execute and d ver this Agreement and to performa, the obligatimu hereunder. C. Ibis Agreement aheR be bincting mtat partes hereto, scluinag their respective successors and assigns, and shag inure ro fire benefit ofMSffA, it successors and assigns. d ibis Agreement may not be amended of modified except s soaring signed by all Parties hereto. No action waieh MSHA, or the limited Permership with the consent of MSHA, may take or refrain from rating wifir respectto any obkgamns of limited Puaarship to MSHA shaR affect fire terns hereof f MSHA's delays orfabureto exertiae any tight or remedy hereunder shall not ovsalute a waiver of any obligation of the panes hereto of any agbt of WS , and all of MSHA'a fights and remedies beremade[ shah be cumulative. No waiver staff be dee to be made by MSHA pf any of its vghra herso adei unless the same shall be in venting and n.a arver, if any, sbaR be a waiver only with respect to fire speafic vutavice involved and A shill m noway Impair MSHA's aghu or the obligation of the parvus he.em to MSHA heteundet m my ocher respect or at any other time. - g Whecerer possible, caxb piovisrn of Arts Agreement shall be rrerp:eeed in sucha as to be effective, valid uud tinforeeabk under applicable law. However, ff my of the provisions of tho Agreement shill be detewined to be probibited, vvevforceable or invalid under applicable law, such provision sbau not limit or otherwise affect due valdity and enforceability of the reeaindet of such provision or remarsg provisions of fids Agreememr. h Ilia Agreement shall be consumed and governed s accordance mita fire laws of the State, of Mare. - Maine Sue Housing Authority Subordination and Standby Agreement Page 7 of 10 IN WITNESSWHEREOF, she panes have hereby caeaed t Subonl=ion and SOndby Ageetneat to be duly executed end delivered es of r 25° day ofAptf 2005. CITY, OFBANGOR By: Cdau�i� Pmt Name. Edward A. Barrett Tide: City Manager MAINE STATE HOUSING AUTHOF= By, llna'sToffd Mellowe Its Mulnfa yLoan Off= PENQUIS C.A.P.,IN�fC. c B9 -6t -�p(� PENQUIS FANIILY HOUSING ASSOCIATES LIMITED PARTNERSHIP - By. PengWs DeveluPmenS Inc. Ise General Paz er / By � Em B.M iu Chef Executive Off= Milne State Houdog Au&07 Snbnrdmadnn and SunabyAgttment Pa 80fl0 NORTHERN NEW ENGLAND HOUSING INVE S T MENT FUNDI �.�.,. By. V Vh W Wimess Its E.Shamt Its Vice President State of Ma Aptit 155 2005 Cowry ofPenobacot _ Puaovally appearedbefore methe above -mored cduz.d 4, swD ztl- duly avtbovxd CtN �aoa u of toe City of Bangot, and acknowledged the foregoing iostrament m be hu/het free act and deed m hu/her said capadty and the ftee act and deed of said CityofBangot. - ' $oNY ✓.c2 /Attorney: Law ' yCommrsnov Expires. State of Maine - Aped ON 2005 County of l{evnebec Peun State peamdbefoaemcdreabave-mmed Todd Marlowe, ss MultSamily can Of5cet of -' Maine Sate Housing Authority,end:iclmowledgedrheforegoia HoHu Ambehis Bee act and deed in by said tapacity and the Bee act svd deed oEMane Smm Housing Authodty. Aat Name: Attorngat-Law My Commission Expires: Page So - Mauvestate Ho�eiog A�tbovty ae 90 f l0 10 wd SmvdbyP.g<eement P Sete of Maine Apol`2005 County of I4 ebec pevo�m llyppppeaz�&I before me the above-named Smpbm B. Mooers, duly authod �%ecfo✓v4`1%nx ., 9Cr ,WthePmgv CA.P,I c.,andackvaaledgedthefoegoeg betrum utto be hu free acXmd deed m his said capacity and rhe free act and deed of arilPmquis CA.P., for NftmcRlrtf<^%I. /X/. 7 .*L-_�.—T_ww' /Anomey-at-iaw State of Metric: Apel, 2005 County of K naebec Personally appeared the above-named Srcphea B. Mooers, Chidaecumre Officer of Penquia Development Iv<, Geveml Patmer of Penquu Family Homing Associates Limited Paamersbip, and gave mtb m the foregoing and acknowledged before me the foregoing m be his Rot act and deed m bis &aid capacity, the free act and deed ofPimpas Development Inc m its said capacity acid the free act and deed of Penqum Family Housing Associates limited Partnership. C NVICQmJbke/Anomey-at-Law - M'.eiov-Eaprces' Solve of lYllill Comfy of -Aper 2 2005 - Pemonaly apper ed the abownamccl William R Shavahar, Vice President of Nordaen New England Housing Im eswmt Fwd and acknowledged before me the foregoing to be lir free act and deed m his said mpacity, the free act and deed ofNoethem New linglaml Housing Investment Fwd. ver Pmt Weta�tmmey-at-Iaw MS Com ie Milne genre Hovering Authodty PW 10 of and Snadby Ag.em.ent Page t0 of 10 ' EXHIBIT A A canton lot or parcel of land, mgana witb airy improvements thereon, situated on the nomhwestecly side of GdfSn Road m the Cq of Bangor, County ofPeaobscot, Stare of Mame, mote pa sculatly descubed as follow: Beginning in the norfhwesfedy line of Gdf5n Road, socalled, at the southeasterly comet of Lot 46 as shown on fbe Piael Plan of VJlage Grein for Village Gwen Relfy Tmsf, Bangor, Penobscot Cauaty, Maine dared Apra 24, 1978 retooled in the Penobscot Reg sty of Deeds in Map He D37-78; Theace along rhe astedy line of Loo 46, 45, 47 and 48 as shown on said plan, North 01° 04' 20" East 612.63 felt w the nortbeaauly come of said Lot 48; Trice Souda 56° ib' 04" East 366.41 feet to the noobwavoly line of said Griffin Road; Thence by and along said road line, Som& 370 42' 11" West 516,80 feet to the point of befpnn ng