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20000$692 <br />(4) a Transfer of all or any part of Key Principal's ownership interests <br />(other than limited partnership interests) in Borrower, or in any other <br />entity which owns, directly or indirectly through one or more <br />intermediate entities, an ownership interest in Borrower; <br />(5) if Key Principal is an entity, (A) a Transfer of a Controlling Interest in <br />Key Principal, or (B) a Transfer of a Controlling Interest in any entity <br />which owns, directly or indirectly through one or more intermediate <br />entities, a Controlling Interest in Key Principal; <br />(6) if Borrower or Key Principal is a trust, the termination or revocation <br />of such trust; and <br />(7) a conversion of Borrower from one type of legal entity into another <br />type of legal entity, whether or not there is a Transfer. <br />Lender shall not be required to demonstrate any actual impairment of its security or any <br />increased risk of default in order to exercise any of its remedies with respect to an Event <br />of Default under this Section 21. <br />(b) The occurrence of any of the following events shall not constitute an Event <br />of Default under this Instrument, notwithstanding any provision of Section 21(a) to the <br />contrary: <br />(1) a Transfer to which Lender has consented; <br />(2) a Transfer that occurs by devise, descent, or by operation of law upon <br />the death of a natural person; <br />(3) the grant of a leasehold interest in an individual dwelling unit for a <br />term of two years or less not containing an option to purchase; <br />(4) a Transfer of obsolete or worn out Personalty or Fixtures that are <br />contemporaneously replaced by items of equal or better function and <br />quality, which are free of liens, encumbrances and security interests <br />other than those created by the Loan Documents or consented to by <br />Lender; <br />(5) the grant of an easement, if before the grant Lender determines that <br />the easement will not materially affect the operation or value of the <br />Mortgaged Property or Lender's interest in the Mortgaged Property, <br />FANNIE MAE MULTIFAMILY SECURITY INSTRUMENT - Form 4028 4/98 Page 29 <br />NEBRASKA <br />