MEADOW LANE HOUSING DEVELOPMENT FUND

MEADOW LANE HOUSING DEVELOPMENT FUND COMPANY, INC. ("MEADOW LANE") PURPOSE IS TO DEVELOP, OWN, AND OPERATE, ON A NONPROFIT BASIS, A HOUSING PROJECT FOR PERSONS OF LOW INCOME, AND IN PARTICULAR TO PROVIDE ELDERLY PERSONS AND DISABLED PERSONS OF LOW INCOME WITH HOUSING FACILITIES AND SERVICES SPECIALLY DESIGNED TO MEET THEIR PHYSICAL, SOCIAL AND PSYCHOLOGICAL NEEDS, AND TO PROMOTE THEIR HEALTH, SECURITY, HAPPINESS, AND USEFULNESS IN LONGER LIVING, THE CHARGES FOR SUCH FACILITIES AND SERVICES TO BE PREDICATED UPON THE PREVISION, MAINTENANCE, AND OPERATION HEREOF ON A NONPROFIT BASIS.