OAKLAWN APARTMENTS INC

OAKLAWN APARTMENTS, INC. IS AN INDIANA NOT-FOR-PROFIT AND WAS ORGANIZED TO CONSTRUCT, OWN AND OPERATE APARTMENT COMMUNITIES IN ELKHART, INDIANA KNOWN AS OAKLAWN APARTMENTS I AND II. IT WAS ORGANIZED PURSUANT TO SECTION 202 OF THE NATIONAL AFFORDABLE HOUSING ACT. THE ORGANIZATION HAS EXECUTED THE STANDARD REGULATORY AGREEMENTS WITH HUD THAT GOVERN THE OPERATIONS OF THE COMMUNITY WITH THE FEDERAL HOUSING ADMINISTRATION (FHA). IN ADDITION, THE CORPORATION HAS ALSO ENTERED INTO A HOUSING ASSISTANCE PAYMENT CONTRACT (HAP) WITH HUD. THE HAP CONTRACT IS A RENT ASSISTANCE PROGRAM FOR LOW INCOME FAMILIES OR PERSONS AS PROVIDED BY THE SECTION 8 PROGRAM OF THE NATIONAL HOUSING ACT.