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20080tl831 omission by Borrower which would result m a violation of any of the provisions of this section 5.9 shall be void. 5.10 Permitted Transfers of GP Interest. Notwithstanding anything to the contrary contained herein, the parties agree that the economic interests in Borrower held by Borrower's general partner may, from time to time, be transferred to one or more Guarantors or affiliates of Guarantors without requirement of Bank's approval and consent, and any such transfer shall be deemed a permitted Disposition; provided, however, (i) Bank shall be provided prior written notice of any such transfer and copies of all executed documents, instruments and agreements effecting the transfer; and (ii) no such transfer shall be in violation of any Bond Document. In no event shall there occur any direct or indirect change in the management or control of Borrower without Bank's prior written consent. ARTICLE 6. EVENTS OF DEFAULT Each of the following events will constitute a default (an "Event of Default") under this Deed of Trust and under each ofthe other Loan Documents: 6.1 Failure to Pav. Subject to the applicable cure provisions, Default shall be made in the payment of any installment of principal or interest on the Note or any other sum under the Reimbursement Agreement or any other Loan Document when due (after giving consideration to any grace or cure period which may be applicable under such document). 6.2 Judgment. A writ of execution or attachment or any similar process shall be issued or levied against all or any part of or interest in the Property or a material part of the Collateral, or any judgment involving monetary damages shall be entered against Borrower which shall become a lien on the Property or any portion thereof or interest therein and such execution, attachment, or similar process or judgment is not released, bonded, satisfied, vacated, or stayed within sixty (60) days after its entry or levy. 6.3 Superior Lien Against the Property. Except as otherwise described and permitted in section 3.1, the assertion of any claim of priority over this Deed of Trust, by title, lien, or otherwise in any legal, administrative, or equitable proceeding, unless such assertion be withdrawn, or effective action satisfactory to Bank commenced (and thereafter diligently prosecuted) and Bank is secured against any loss or damage therefrom, within thirty (30) days of the assertion of such claim. 6.4 Abandonment. The actual or constructive abandonment of all or a substantial portion of the Property or the Collateral (such abandonment constituting an assignment to Bank, at Bank's option, of Borrower's interest in any lease or contract now or hereafter affecting the abandoned property). 6.5 Valid First Lien. Except as otherwise described and permitted in section 3.1, the failure of Borrower to have a valid first lien against the entire Property and Collateral as to all advances made now or at any time in the future pursuant to the Note, the Reimbursement Agreement, this Deed of Trust, or any other Loan Document. ] 03209.606] 7.957802v5 14 us Bank / Riverbend Apartments Phase] Deed of Trust