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05-27-2026 Council Packet
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05-27-2026 Council Packet
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<br />25 <br />Little Canada-Lupe - Borrower Loan Agreement - LC Apartments(199386221.3) - 5/12/2026 6:38:21 PM <br />prior to any right, title or interest in or claim upon the Project Facilities attaching or accruing subsequent to <br />the lien of the Mortgage on the Project Facilities. <br />Section 6.15 Controlling Person. The Borrower acknowledges and agrees that (i) the Funding <br />Lender has the sole and exclusive right to arrange for servicing of the Borrower Loan and to appoint another <br />person or entity to serve as its representative hereunder, under the other Funding Loan Documents and <br />under the Funding Loan Agreement; (ii) the Funding Lender has appointed R4 Servicer LLC to serve in the <br />capacity of Controlling Person hereunder, under the other Funding Loan Documents, and under the Funding <br />Loan Agreement and R4 Servicer LLC, as Controlling Person, shall perform all of the duties expressly <br />given to the Controlling Person or the Funding Lender with respect to the servicing, administration and <br />collection activities under the Funding Loan Documents including, but not limited to those set forth in <br />Section 8.2 of the Funding Loan Agreement; (iii) unless revoked in writing by the Funding Lender or the <br />Controlling Person has resigned, the Borrower shall communicate solely with the Controlling Person with <br />respect to matters arising under or relating to the Funding Loan Documents; and (iv) the Funding Lender <br />retains the sole and exclusive right to appoint, remove or replace the Controlling Person, without the consent <br />or approval of the Borrower. The Controlling Person is hereby granted the full power and authority to <br />conduct the servicing, administration and collection activities for and on behalf of the Funding Lender as <br />contemplated herein and, without limiting the generality of the foregoing, is authorized and empowered to <br />make and accept all communications on behalf of the Funding Lender with Borrower, Guarantor and any <br />of their agents and execute and deliver, on behalf of the Funding Lender, any and all instruments of <br />amendment, modification, satisfaction, cancellation, sale, transfer, release, discharge and all other <br />comparable instruments with respect to the Loan. The Funding Lender hereby constitutes and appoints the <br />Controlling Person as the Funding Lender’s true and lawful attorney in fact with the power and authority <br />to perform the foregoing. The Borrower shall comply with the directions of the Controlling Person made <br />on behalf of the Funding Lender to the same extent that Borrower is obligated to comply with the directions <br />of the Funding Lender. <br />Section 6.16 Tax Returns. The General Partner will timely file all tax returns for itself and for <br />the Borrower, pay or cause to be paid when due all taxes imposed on their operations, assets, income or <br />properties, and, upon request, provide to the Controlling Person copies of such returns and receipts for <br />payment of such taxes. <br />Section 6.17 Leases. The Borrower hereby represents that there are no leases or agreements to <br />lease all or any part of the Project Facilities now in effect. Except for leases to residential tenants in <br />compliance with the Regulatory Agreement and leases for services associated with residential rental <br />properties (such as laundry and cable leases), the Borrower shall not enter into or become liable under, any <br />leases or agreements to lease all or any part of the Project Facilities without the prior written approval <br />thereof and of the prospective tenant by the Controlling Person, such approval not to be unreasonably <br />withheld, conditioned or delayed. Each lease of residential units in the Project Facilities to a residential <br />tenant shall be on a form of lease approved by the Controlling Person and shall be in compliance with the <br />requirements of the Regulatory Agreement. <br />Section 6.18 Further Assurances. The Borrower will promptly and duly execute, acknowledge <br />and deliver from time to time such further instruments and take such further actions as may be reasonably <br />required by the Governmental Lender, the Funding Lender or the Controlling Person to carry out the <br />purposes and provisions of this Agreement and the other Funding Loan Documents, to confirm the priority <br />and/or perfection of any lien, pledge, assignment or security interest created or intended to be created by <br />this Agreement and to assure the Controlling Person and the Funding Lender of the subrogation and security <br />rights in favor of the Funding Lender (or the Fiscal Agent for the benefit of the Funding Lender) for the <br />benefit of the Noteowners of the Governmental Note contemplated by this Agreement, by the other Funding
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