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200804831 provisions hereof with respect to any subsequent Disposition. The rights and options herein granted to Bank may be exercised at Bank's sole option and discretion, need not be based upon an increased business risk or any other risk, and are an integral and valuable part of the security given to Bame 5.4 Further Encumbrance of Property. Except for the Permitted Exceptions, Borrower will not create, place or permit to be created or placed or allow to remain against the Property any lien, mortgage or deed of trust, regardless of whether the same is expressly subordinate to the liens and security interests imposed hereby or by any other instruments securing the Secured Obligations and Borrower shall not encumber the Property without the prior written consent of Bank. 5.5 Transfer or Removal of Chattels. Borrower will not sell, transfer or remove from the Property all or any material part of the Chattels, unless the items sold, transferred, or removed are simultaneously replaced with similar items of equal or greater value. 5.6 Further Encumbrance of Collateral. Except for leases of the Real property entered into by Borrower in the ordinary course of Borrower's business, Borrower will not create or permit any junior lien, security interest or other encumbrance against the Collateral without the prior written consent of Bank. 5.7 Change In Name. Location Of Collateral. Etc. Without giving at least thirty (30) days' prior written notice to Bank, Borrower shall not: (a) except as permitted in the Reimbursement Agreement, change its name, identity structure, (other than in connection with the admission at any time of a qualified housing authority as a member of Borrower to hold up to a I % membership interest in Borrower) or jurisdiction of organization; (b) change the location of its place of business (or chief executive office if more than one place of business); (c) adopt or begin doing business under any other name or assumed or trade name; or (d) except as permitted under section 5.5 hereof, change any location at which any of the Collateral is stored, held or located. In the event that Bank shall consent to any of the foregoing, Borrower shall execute, deliver or otherwise provide any appropriate modifications or supplements to this Deed of Trust, any financing statement filed in connection herewith, and any other Loan Document, as Bank may reasonably require. 5.8 Improper Use of Pro pert V or Collateral. Borrower will not use the Property or the Collateral for any purpose or in any manner, or take any action with respect to the Property which violates any applicable law, ordinance, or other governmental requirement, the requirements or conditions of any insurance policy, or any private covenant. 5.9 Independence of Security. Borrower shall not by act or omission permit any building or other improvement on any premises not subject to the lien of this Deed of Trust to rely on the Property or any part thereof or any interest therein to fulfill any municipal or governmental requirement, and Borrower hereby assigns to Bank any and all rights to give consent for all or any portion of the Property to rely on any premises not subject to the lien of this Deed of Trust or any interest therein to fulfill any municipal or governmental requirement. Borrower shall not by act or omission impair the integrity of the Property as a single zoning lot, and as one or more complete tax parcels, separate and apart from all other premises. Any act or I 03209-6Q6 I 7-957802v5 13 US Bank / Riverbend Apartments Phase I Deed of Trust