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APPELLATE DE~NDER Fax:919-560-3288 <br />d-23-1999 1 1 : 33AM FRUM ~~b /;~ / ~ I y <br />Apr 23 '99 14:39 <br />P. G2/03 . t <br />Tr-tE ~ANK~ LAw Ftt#M. P. X41. <br />•"~OIMNf,Y! ENO GOVNliiO~+g ~7 4~-w <br />tilh6wTLG/ SGLJ~w[ <br />~O~ N~ MMI+ 3TAlLT. f1,1/YE 24•t <br />R[;f. SOY 7S~ <br />p~,IRl~AM, N01RT'ti CAl1QLINrA 1770! <br />a•+cRwca ra.~~s <br />SATAN r. WAAD~LL <br />gYrpM~lrr 0. w~Np <br />a..ltiNw .,e-+es ae.tb <br />(asl utr•a~~~ <br />~~ (l~f) Sti2•~o23 <br /> <br />Tye H.mtex,lco-Chafr <br />Nancy A,tv~+a , Co-fair <br />UCC Liv~g I Ca>~ra, Inc. <br />300 Mcr~cdith Dtivs, Suite 200 <br />Llarbam, N~ 27?I3 <br />Re: ;Tax F.ao~pption <br />Dear Tjro at~d N~rury: <br />~~KR <br />twa•*~~ aw r~w•o <br />ti r. w.wTar rwtlet. !u~ sN <br />A•~aaa, .owr« O~.vu.~. twos <br />r~l W~ao <br />^~ ~ .s. are. <br />You eve rrquested that I provide yon with an opinion as to the rrAl and personal <br />progeny tax conseque>aces of UCC Living Cr~ntets, Inc. ("t1CC~ acquiring sad de~velopia8 <br />rcat pro ig the 4~ty of Csrrbo% tlu Coaaiy of Orange, Sta~oc of North Carding ~ <br />the pvrpole Pf bv~t7ding a Hi7D Sew 20Z project tv be Ioavwp as 'ti'CC Living C~~ters"- <br />For purpase+~ of renderinb tiw opinion, I ~taye revicw~cd the Articlos.of Ltoorporatyon, ~` <br />I,.aws, c7rgaDizational Miautss, HUD ~tetiStratioa of Selection i3pr a Section ?02 Fiord <br />R.taservation ~dstedSeptsmber Zp,19QS, applicable North Cs~roliaa GeosraI Statsttss and each <br />other docuaian# and Isws xs I bave ds~ed appropriate to the rendering of tl~it opinion. <br />Based apon~ ~mY rernw of the foregoing documents and upon the stssvmptioa that the <br />real sad peraatral prgpexry of UCC wr71 be used far the puipo~.s set forth is its At~ic3es of <br />Incorporati i ~ ~of the opinie® that UCC Lividg Geater w~l meet the crite#ia inr <br />exaaaption sd vatarsm taxes npoa its real and ptsrsomai prope~- +uader North Carolina <br />Genera! Sta ~~203-278.6(x)(8). Said statute e~mpts non-probt corporatio~us rvhea their <br />real grope n~ xcteta~y sad eaxlutive)y occupied and used, and when their personal property <br />is entirely oompktciy tsxd for thr c~sritgble purposes otttli~Dea m the statutes. It is my <br />apinf~ ctiat~tJCC aq~d UCC Living.Centsr wt~l utezt the charitabk ptnpa~s outlined is the <br />stawtes. ' <br />After the An'lxriY has beta placed in serviCC. UCC should ille for the tax exeutpdoa <br />with the Ortalugs Cotisty Tea Assrsw:'s office. (3uce the exempdom bas boon granted. UCC <br />wr71 have tlb obliaatie~ to Sk annually !er said exemption ex~aept is the following <br />