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collect any escrows for any cost or expense related to the Mortgaged Property or <br />for any portion of the Subordinate Indebtedness. However, if Senior Lender is not <br />collecting escrow payments for one or more Impositions, Subordinate Lender may <br />collect escrow payments for such Impositions; provided that all payments so <br />collected by Subordinate Lender will be held in trust by Subordinate Lender to be <br />applied only to the payment of such Impositions. <br />(h) Certification. Within 10 days after request by Senior Lender, Subordinate Lender <br />will furnish Senior Lender with a statement, duly acknowledged and certified <br />setting forth the then -current amount and terms of the. Subordinate Indebtedness, <br />confirming that there exists no default under the Subordinate Loan Documents or <br />the Regulatory Agreement (or describing any default that does exist), and <br />certifying to such other information with respect to the Subordinate Indebtedness <br />as Senior Lender may request. <br />8. Refinancing. Subordinate Lender agrees that its agreement to subordinate under this <br />Agreement will extend to any new mortgage debt which is for the purpose of refinancing <br />all or any part of the Senior Indebtedness (including reasonable and necessary costs <br />associated with the closing and/or the refinancing). Subordinate Lender further agrees to <br />expeditiously review and approve any reasonable increase to the Senior Indebtedness in <br />connection with any such refinanced mortgage debt provided that such increase is to be <br />used for rehabilitation of the Improvements in the context of a preservation transaction. <br />All terms and covenants of this Agreement will inure to the benefit of any holder of any <br />such refinanced debt, and all references to the Senior Loan Documents and Senior Lender <br />will mean, respectively, the refinance loan documents and the holder of such refinanced <br />debt. <br />9. Governmental Powers. Nothing in this Agreement is intended, nor will it be construed, <br />to in any way limit the exercise by Subordinate Lender of its governmental powers <br />(including police, regulatory and taxing powers) with respect to Borrower or the <br />Mortgaged Property to the same extent as if it were not a party to this Agreement or the <br />transactions contemplated by this Agreement. <br />10. Notices. <br />(a) Any Notice required or permitted to be given pursuant to this Agreement will be <br />in writing and will be deemed to have been duly and sufficiently given if (i) <br />personally delivered with proof of delivery (any Notice so delivered will be <br />deemed to have been received at the time so delivered), or (ii) sent by a national <br />overnight courier service (such as FedEx) designating earliest available delivery <br />(any Notice so delivered will be deemed to have been received on the next <br />Business Day following receipt by the courier), or (iii) sent by United States <br />registered or certified mail, return receipt requested, postage prepaid, at a post <br />office regularly maintained by the United States Postal Service (any Notice so <br />Subordination Agreement— Governmental Entity Page 13 <br />City of Santa Ana-Inclusionary Housing <br />La Placita Cineo <br />