MAISONS DENREE II INC

THE NOT-FOR-PROFIT ORGANIZATION, FORMED UNDER THE NOT-FOR-PROFIT STATUTES OF THE STATE OF IOWA, OWNS AND OPERATES A 30-UNIT COMMUNITY OF ACCESSIBLE APARTMENTS FOR LOW INCOME DISABLED VETERANS. THE COMMUNITY, KNOWN AS PLAIN VIEW APARTMENTS IS LOCATED IN COUNCIL BLUFFS, IOWA. THE CORPORATION IS AFFILIATED WITH THE GREAT PLAINS CHAPTER OF PARALYZED VERTERANS OF AMERICA. THE CORPORATION WAS ORGANIZED PURSUANT TO SECTION 202 OF THE NATIONAL HOUSING ACT AS AMENDED AND HAS ENTERED INTO THE STANDARD FHA REGULATORY AGREEMENTS, WHICH GOVERN THE OPERATION OF THE COMMUNITY, WITH THE FEDERAL HOUSING ADMINISTRATION SECTION OF HUD. THE CORPORATION HAS ENTERED INTO A HOUSING ASSISTANCE PAYMENT CONTRACT (HAP CONTRACT) WITH HUD UNDER THE SECTION 8 PROGRAM OF THE NATIONAL HOUSING ACT, AS AMENDED. THE HAP CONTRACT PROVIDES ASSISTANCE FOR ALL 30 UNITS.