Item 1. Legal Proceedings
Item 1.
LEGAL PROCEEDINGS
The Operating Partnership’s subsidiary, Main Street West, LP (“Main Street West”), had a loan from First Northern Bank of Dixon that matured on November 1, 2024. Despite attempts to negotiate an
extension, an agreement could not be reached. As a result, Main Street West is currently in default under the note terms. The bank has initiated foreclosure proceedings and filed a notice of default, and on January 28, 2025, a receiver was appointed by
the court.
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