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200406420 <br />condemnation, condemnation proceeds shall be applied in the <br />following order: <br />(i) to the restoration of the Trust Estate and /or the <br />Collateral, if Trustor can demonstrate that the <br />condemnation proceeds, together with any funds that <br />Trustor may contribute, are sufficient to repair and <br />restore the Trust Estate and /or the Collateral to its <br />condition immediately prior to the condemnation; <br />(ii) to the Obligations, as defined in the Loan Agreement, <br />in such order as Lender may determine; and <br />(iii) to Trustor. <br />If an Event of Default has occurred and is continuing at the <br />time of receipt of the condemnation proceeds, Beneficiary <br />may, at its option, apply the condemnation proceeds to the <br />foregoing items in whatever order Beneficiary shall see fit. All <br />such condemnation proceeds shall constitute additional <br />security for the Obligation. <br />3. Paragraph 8 of the Deed of Trust is amended to add the following at the end <br />of such paragraph <br />The parties acknowledge that the Trust Estate is expected to <br />generate low- income housing tax credits and will be subject to the <br />provisions of the Low Income Housing Tax Credit Extended Use <br />Agreement to be entered into between the Trustor and the Nebraska <br />Investment Finance Authority (the "Extended Use Agreement "), <br />which must meet the requirements for an Extended Housing <br />Commitment described in Section42(h)(6)(B) of the Internal Revenue <br />Code of 1986, as amended (the "Code "), and including the <br />requirement that for a three (3) year period after the Trust Estate is <br />acquired by foreclosure (i) the eviction or the termination of a <br />tenancy (other than for cause) of an existing tenant of any low - <br />income unit, or (ii) any increase in the gross rent with respect to <br />such unit not otherwise permitted under Section 42 of the Code <br />shall not be permitted. Notwithstanding any other provision of the <br />Trust Deed or the Loan Documents, the Trustor and the Beneficiary <br />acknowledge and agree that although the Extended Use Agreement <br />may terminate on the date the Trust Estate is acquired by <br />foreclosure (or instrument in lieu of foreclosure), neither the Trustee <br />nor any other person may (i) evict or terminate the tenancy (other <br />than for cause) of an existing tenant of any low- income unit, or (ii) <br />increase gross rent with respect to such unit not otherwise <br />permitted under Section 42 of the Code, as such actions may be <br />restricted or limited by the Code. <br />L0600179.2 -3- <br />