Company: NXDT
Filing Date: 2025-01-21
Form Type: 424B3
Source: 0001437749-25-001494
Chunk: 2093

Company: NEXPOINT DIVERSIFIED REAL ESTATE TRUST
Filing Date: 2025-01-21
Form: 424B3
Chunk 2093
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collectively, as Borrower

and

DELPHI CRE FUNDING LLC,

a Delaware limited liability company,

and the other Lenders from time to time party hereto,

as Lenders.

and

ACORE CAPITAL MORTGAGE, LP,

a Delaware limited partnership,

as Administrative Agent for the Lenders

Property: Highland 5 Pack Portfolio

Loan Amount: $88,000,000.00

I-1671

TABLE OF CONTENTS</div>

Page

Section 1.1. Definitions 1

Section 1.2. Location of Additional Defined Terms 24

Section 1.3. Principles of Construction 26

ARTICLE II GENERAL TERMS 26

Section 2.1. The Loan 26

Section 2.2. Interest Rate 26

Section 2.3. Loan Payment 27

ARTICLE III CASH MANAGEMENT: RESERVE ACCOUNTS 34

Section 3.1. Cash Management 34

Section 3.2. Required Deposits 35

Section 3.3. Disbursements from the Reserve Accounts 38

Section 3.4. Accounts Generally 38

ARTICLE IV REPRESENTATIONS AND WARRANTIES 39

Section 4.1. Organization 39

Section 4.2. Authority: Enforceability 39

Section 4.3. No Conflicts 40

Section 4.4. Litigation: Judgments 40

Section 4.5. Agreements 40

Section 4.6. Title 40

Section 4.7. Solvency 41

Section 4.8. Compliance 41

Section 4.9. Condemnation 41

Section 4.10. Utilities and Public Access 41

Section 4.11. Separate Tax Lots: Assessments 42

Section 4.12. Insurance 42

Section 4.13. Use of Property: Licenses 42

Section 4.14. Flood Zone 42

Section 4.15. Physical Condition 42

Section 4.16. Boundaries: Survey 42

Section 4.17. Leases 43

Section 4.18. Filing and Recording Taxes 43

Section 4.19. Special Purpose Entity 43

Section 4.20. Financial Information; Disclosure 43

Section 4.21. Certain Regulations 44

Section 4.22. San