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202500373
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1/23/2025 10:52:34 AM
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1/23/2025 10:52:32 AM
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DEEDS
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202500373
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202500373 <br />Property directly, by a receiver, or by any other manner or proceeding permitted <br />by the laws of the Property Jurisdiction, Lender immediately will have all rights, <br />powers and authority granted to Borrower under any Lease, including the right, <br />power and authority to modify the terms of any such Lease, or extend or terminate <br />any such Lease. <br />(e) Borrower will, promptly upon Lender's request, deliver to Lender an executed <br />copy of each residential Lease then in effect. <br />If Borrower is a cooperative housing corporation or association, notwithstanding <br />anything to the contrary contained in this Instrument, so long as Borrower <br />remains a cooperative housing corporation or association and is not in breach of <br />any covenant of this Instrument, Lender consents to the following: <br />(i) Borrower may execute leases of apartments for a term in excess of 2 years <br />to a tenant shareholder of Borrower, so long as such leases, including <br />proprietary leases, are and will remain subordinate to the Lien of this <br />Instrument. <br />(f) <br />(ii) Borrower may surrender or terminate such leases of apartments where the <br />surrendered or terminated lease is immediately replaced or where <br />Borrower makes its best efforts to secure such immediate replacement by <br />a newly -executed lease of the same apartment to a tenant shareholder of <br />Borrower. However, no consent is given by Lender to any execution, <br />surrender, termination or assignment of a lease under terms that would <br />waive or reduce the obligation of the resulting tenant shareholder under <br />such lease to pay cooperative assessments in full when due or the <br />obligation of the former tenant shareholder to pay any unpaid portion of <br />such assessments. <br />5. Prepayment Charge. Borrower will be required to pay a prepayment charge in <br />connection with certain prepayments of the Indebtedness, including a payment made after <br />Lender's exercise of any right of acceleration of the Indebtedness, as provided in the <br />Note. <br />6. Application of Payments. If at any time Lender receives, from Borrower or otherwise, <br />any amount applicable to the Indebtedness which is less than all amounts due and payable <br />at such time, then Lender may apply that payment to amounts then due and payable in <br />any manner and in any order determined by Lender, in Lender's discretion. Neither <br />Lender's acceptance of an amount that is less than all amounts then due and payable nor <br />Lender's application of such payment in the manner authorized will constitute or be <br />deemed to constitute either a waiver of the unpaid amounts or an accord and satisfaction. <br />Notwithstanding the application of any such amount to the Indebtedness, Borrower's <br />obligations under this Instrument, the Note and all other Loan Documents will remain <br />unchanged. <br />Nebraska <br />Multifamily Deed of Trust, Assignment of Rents <br />and Security Agreement <br />Page 14 <br />
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