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r 86--- 103585 12) Any subordination of this lien to additional liens or encumbrances of the assignee or successor to the BORROWER shall be only upon the written consent of the LENDER. Such additional liens and encumbrances shall extend to and include any contract for deed, land contract, or other agreement between the BORROWER and his successor or assignee. Such consent to subordinate shall not be unreasonably withheld so long as LENDER has the assurance, reasonable to the LENDER, that the provisions of this lien remain enforceable and are adequately secured by the project. 13) To assure and protect its rights in this lien and the PROJECT, the LENDER shall have right of aocess and inspection of the PROJECT at reasonable times and with reasonable notice to the BORROWER. 14) Any forbearance by the LENDER with respect to any of the terms and conditions of this lien in no way constitutes a waiver of any of the LENDER's rights or privileges granted hereunder. 15) Any notice of one party to the other shall be in writing to the parties as follows: The LENDER - THE CITY OF GRAND ISLAND, NEBRASKA, a municipal Corporation. The BORROWER - Richard Strehle and Theodore Molczyk, partners The BORROWER, or his executor in the event of the death of the BORROWER, shall notify the LENDER of any change in the BORROWER's name and address or any successor or assignee of the BORROWER. lb) The interpretation and application of this lien shall be in accordance with the laws and procedures of the State of Nebraska, as they may from time to time be amended. 17) In the event of default and nonpayment of the balance due by the BORROWER, the LENDER may take such measures as may be lawful to it for the recovery of the Indebtedness and including, but not limited to, foreclosure and sale of the BORROWER'S rights in the PROJECT and /or the assignment and collection of the rents and profits of the PROJECT. 18) Upon satisfactory completion of all terms and conditions of this lien by the BORROWER or upon payment of any and all balance due, the BORROWER shall be entitled to a release and satisfaction of this lien by the LENDER at the BORROWER's own cost. This lien is expressly created and imposed upon the above described project for the purpose of assuring the compliance of the BORROWER with terms and conditions incident to the deferred payment loan evidenced by this lien, such loan being exclusively for the purpose of rehabilitating, preserving and'enchancing rental dwelling units in the PROJECT in accordance with the rul� nd procedures of the Rental Rehabilitation Program of the City of Grand Island, Nebraska {V Date Date to Borrower(s) and Maker (s) Date en er's e'signee STATE OF NEBRASKA COUNTY OF HALL r. f On the �� of personally appeared and are to me known to- a the persoit(s) fiamej in and wno execut acknowledged that this was their voluntary act and deed. 3tlll0i�11/p 'f 3NN3y� M�W�e M wr►g- aYMIIR iK� before me, a Notary Public r sd the foregoing in tram 'tq and 7�1 Notary Public in ^and for the St3t. cf Nebraska, County of Hall J