Cocoon House 4/19/2018 - Laserfiche WebLink

conditions under which the Property is to be operated and which shall meet the requirements of Section 42(h)(6)(B) of the Internal Revenue Code of 1986, as amended. GRANTOR FURTHER AGREES: 1. Grantor will perform each and every obligation contained in the Loan Agreement and any amendments thereof. 2. Grantor will charge rent to tenants of the Premises described herein according to the (i) Rent Restriction Provisions contained in Section VII, Exhibit A to the Loan Agreement and (ii) the Use Restriction Covenant Agreement attached as Exhibit E to the Loan Agreement and to be recorded against the Property. 3. Grantor will ensure that the Property will remain affordable pursuant to the terms of the foregoing Loan Agreement without regard to the term of any other deed of trust or the transfer of ownership, for not less than the term of this Deed of Trust, except that, upon foreclosure of the Property described herein by another lender or other transfer in lieu of such a foreclosure, the affordability period of this Deed of Trust shall be terminated if that foreclosure or other transfer recognizes any contractual or legal rights of public agencies, nonprofit sponsors, or others to take actions that would avoid the termination of low-income affordability. However, the affordability restrictions of this Deed of Trust shall be revived according to the original terms set forth herein if, during the period hereunder, the owner of record before foreclosure under any other deed of trust or deed of trust or other transfer, or any entity that includes the former owner or those with whom the former owner has or had family business ties, obtains an ownership interest in the Property described herein, in which event the affordability period shall be revived according to its original terms as set hereunder. 4. If Grantor shall fail to perform any obligation hereunder and the Beneficiary elects to perform the same and expends any monies therefor, such expenditure shall be deemed in addition to the amount secured by this deed of trust and be immediately due and payable in accordance with the loan documents. 5. If an event of default occurs under the foregoing Loan Agreement or Note (after the expiration of any applicable cure period), the whole indebtedness secured thereby shall be due and payable in accordance with the loan documents and the Beneficiary may proceed to foreclose this Deed of Trust. If the Beneficiary shall incur any costs and expenses, including reasonable attorneys'fees and costs of any title reports, in connection with the performance of any of its rights hereunder including foreclosure, such costs and expenditures shall remain secured by this Deed of Trust and shall be immediately due and payable by Grantor. [SIGNATURE PAGE FOLLOWS] Exhibit D Cocoon House Page 4 of 8