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f. All revenues, income, rents, royalties, payments and profits produced by
<br />the Land, Improvements, Appurtenances and Equipment, whether now owned or
<br />hereafter acquired by Trustor ("Gross Revenues");
<br />g. All architectural, structural and mechanical plans, specifications, design
<br />documents and studies produced in connection with development of the Land and
<br />construction of the Improvements (collectively, "Plans"); and
<br />h. All interests and rights in any private or governmental grants, subsidies,
<br />loans or other financing provided in connection with development of the Land and
<br />construction of the Improvements (collectively, "Financing").
<br />All of the above-referenced interests of Trustor in the Land, Improvements,
<br />Appurtenances, Equipment, Leases, Rents, Proceeds, Gross Revenues, Plans and
<br />Financing as hereby conveyed to Trustee or made subject to the security interest herein
<br />described are collectively referred to herein as the "Property."
<br />2. Obligations Secured. This Deed of Trust is given for the purpose of securing
<br />payment and pertormance of the following (collectively; the "Secured Obligations"): (i)
<br />all present and future indebtedness evidenced by the Note and any amendment thereof,
<br />including principal, interest and all other amounts payable under the terms of the Note;
<br />(ii) all present and future obligations of Trustor to Beneficiary under the Loan
<br />Documents (defined below); (iii) all additional present and future obligations of Trustor
<br />to Beneficiary under any other agreement or instrument acknowledged by Trustor
<br />(whether existing now or in the future) which states that it is or such obligations are,
<br />secured by this Deed of Trust; (iv) all obligations of Trustor to Beneficiary under all
<br />modifications, supplements, amendments, renewals, or extensions of any of the
<br />foregoing, whether evidenced by new or additional documents; and (v) reimbursement
<br />of all amounts advanced by or on behalf of Beneficiary to protect Beneficiary's interests
<br />under this Deed of Trust or any other Loan Document as such may be modified,
<br />supplemented, amended, renewed or extended. The Note, the OPA, this Deed of Trust,
<br />and the Affordable Housing Regulatory Agreement and Declaration of Restrictive
<br />Covenants ("Regulatory Agreement") dated as of the date hereof, executed by and
<br />between Trustor and Beneficiary and recorded substantially concurrently herewith are
<br />hereafter collectively referred to as the "Loan Documents."
<br />3. Assignment of Rents, Issues, and Profits. Trustor hereby irrevocably, absolutely,
<br />presently and unconditionally assigns to Beneficiary the Rents, royalties; issues, profits,
<br />revenue, income and proceeds of the Property. This is an absolute assignment and not
<br />an assignment for security only. Beneficiary hereby confers upon Trustor a license to
<br />collect and retain such Rents, royalties, issues, profits, revenue, income and proceeds
<br />as they become due and payable prior to any Event of Developer Default hereunder.
<br />Upon the occurrence of any such Event of Developer Default, Beneficiary may
<br />terminate such license without notice to or demand upon Trustor and without regard to
<br />the adequacy of any security for the indebtedness hereby secured, and may either in
<br />person, by agent, or by a receiver to be appointed by a court, enter upon and take
<br />possession of the Property or any part thereof, and sue for or otherwise collect such
<br />~ 180284-6 3
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