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Case 25-23251-MEH Doc18-10 Filed 12/22/25 Entered 12/22/25 20:08:18 Desc
Exhibit | Page 7 of 12
advanced pursuant to the Loan Documents, and will be secured by the liens,
security interests, terms and provisions contained within the Loan Documents;
n. Leases; Payment of Utilities; Maintenance of the Property; Compliance with
Laws. Receiver be authorized to: (1) negotiate and enter into new leases, occupancy
agreements and contracts in the ordinary course of the business of the Property; (2)
modify existing leases, occupancy agreements and contracts in the ordinary course
of the business of the Property; (3) pay all requested future utilities; (4) pay all other
outstanding obligations to suppliers and service providers in the ordinary course of
business, including obligations incurred prior to the commencement of the
receivership, so long as Receiver has determined that it is prudent to do so in order
to maintain business relationships that are beneficial to the conduct of the
receivership; (5) make repairs necessary to the maintenance of the Property in order
to preserve the Property in the ordinary course of business; and (6) comply with all
requirements and regulations applicable to the Property;
0. Application of Income from the Property. Receiver be permitted to apply income
from the Property, subject to the lien and security interest rights of Lender, as
follows: (1) Receiver’s approved fees and expenses; (2) the current operating
expenses of the receivership in the ordinary course of business; (3) the obligations
owed to Lender under the Loan Documents; and (4) such other obligations incurred;
Dp. Receiver’s Cash on Hand. Receiver be permitted to maintain sufficient cash on
hand to enable Receiver to meet those expenses, the payment of which is authorized
herein, in an amount to be agreed to between Receiver and Lender;
q. Payment of Property Expenses. Receiver be permitted to pay all expenses
incurred with regard to the Property in the normal and ordinary course of business
of the Property by Receiver on or after the date Receiver is appointed. Neither
Receiver nor Lender shall be liable for any expenses incurred with regard to the
Property prior to Receiver taking possession of the Property. Notwithstanding the
foregoing, if Receiver wants a specific utility or utilities restored, Receiver may, in
Receiver’s sole and absolute discretion, pay all, or if agreed to by such provider,
part of those expenses that were incurred in the normal and ordinary course of
business of the Property and that were incurred prior to Receiver taking possession
of the Property, if, and only if, the payment of any such pre-existing amounts is
necessary and critical to the ongoing operation of the Property (e.g., utilities).
Otherwise, no pre-existing expenses shall be paid by Receiver without written
approval by Lender or further order of this Court;
r Receiver’s Liability. Except in the event of gross negligence, willful misconduct,
or actions in violation of orders of the Court, Receiver will have no personal
liability for any obligations incurred in the course of the receivership, any and all
such liabilities being limited to the assets (including the cash and cash equivalents)
received and generated by Receiver in the course of the receivership, subject to the
existing lien of Lender;
ORDER APPOINTING RECEIVER — PAGE 6Jump to an indexed page (12 of 12)