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EXHIBIT D <br />PERMITTED ENCUMBRANCES <br />1. Any law, ordinance or governmental regulation (including but not limited to <br />building and zoning ordinances) restricting or regulating or prohibiting the occupancy, use or <br />enjoyment of the Development Property, or use or enjoyment of the Development Property, or <br />regulating the character, dimensions or location of any improvement now or hereafter erected on <br />the Development Property, or prohibiting a separation in ownership or a reduction in the <br />dimensions or area of the Development Property, or the effect of any violation of any such law, <br />ordinance or governmental regulation. <br />2. Rights of eminent domain or governmental rights of police power. <br />3. Defects, liens, encumbrances, adverse claims or other matters: (a) resulting in no <br />loss or damage to the Developer, or (b) attaching or created pursuant to Article VI subsequent to <br />the conveyance of the Development Property to the Developer by the City. <br />4. Any Mortgage approved or pe itted under Section 8.2 and any liens and <br />encumbrances or other interests permitted under the teiuis of said Mortgage. <br />1549292v1 <br />D -1 <br />- 4 4 - <br />