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200608119 8714801 (4) a Transfer of obsolete or worn out personalty or fixtures that are contemporaneously replaced by items of equal or better function and quality, which are free of liens, encumbrances and security interests other than those created by the Loan Documents or consented to by Lender; (5) the grant of an easement, if before the grant Lender determines that the easement will not materially affect the operation or value of the Mortgaged Property or Lender's interest in the Mortgaged Property, and Borrower pays to Lender, upon demand, all costs and expenses incurred by Lender in connection with reviewing Borrower's request; and (6) the creation of a tax lien or a mechanic's, materialman's or judgment lien against the Mortgaged Property which is bonded off, released of record or otherwise remedied to Lenders satisfaction within 30 days of the date of creation. (c) Lender shall consent, without any adjustment to the rate at which the Indebtedness secured by this Instrument bears interest or to any other economic terms of the Indebtedness, to a Transfer that would otherwise violate this Section 21 if, prior to the Transfer, Borrower has satisfied each of the following requirements: (1) the submission to Lender of all information required by Lender to make the determination required by this Section 21(c); (2) the absence of any Event of Default; (3) the transferee meets all of the eligibility, credit, management and other standards (including any standards with respect to previous relationships between Lender and the transferee and the organization of the transferee) customarily applied by Lender at the time of the proposed Transfer to the approval of borrowers in connection with the origination or purchase of similar mortgages, deeds of trust or deeds to secure debt on multifamily properties; (4) the Mortgaged Property, at the time of the proposed Transfer, meets all standards as to its physical condition that are customarily applied by Lender at the time of the proposed Transfer to the approval of properties in connection with the origination or purchase of similar mortgages on multifamily properties; (5) if Lender's original appraisal of the Mortgaged Property will be older than one year at the time of the closing of the proposed Transfer, then Lender shall have obtained a new appraisal of the Mortgaged Property at borrower's expense. (6) if one or more holdbacks(s) were required at time of closing of the Loan, all conditions to release of the holdbacks(s) must have been completed to Lender's satisfaction and, without limiting the foregoing, Lender will have the right to obtain a new Property Condition Assessment report at borrower's expense to assist in verification of such completion; (7) in the case of a Transfer of all or any part of the Mortgaged Property, or direct or indirect ownership interests in Borrower, if transferor or any other person has obligations under any Loan Document, the execution by the transferee or one or more individuals or entities acceptable to Lender of an assumption agreement (including, if applicable, an Acknowledgement and Agreement of Guarantor to Personal Liability for Exceptions to Non - Recourse Liability) that is acceptable to Lender and that, among other things, requires the transferee to perform all obligations of transferor or such person set forth in such Loan Document, and may require that the transferee comply with any provisions of this Instrument or any other Loan Document which previously may have been waived by Lender; (8) the Borrower causes one or more individuals or entities acceptable to Lender to execute and deliver to Lender a guaranty in a form acceptable to Lender; and (9) Lender's receipt of all of the following: (A) payment of an amount equal to the sum of (1) a non - refundable review fee (the "Review Fee") of (a) $10,000.00 if the proposed Transfer occurs during the first year of the loan, or (b) $5,000.00 if the