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(j) No amendment, supplement, modification, waiver or termination of this <br />Agreement shall be effective against any party unless such amendment, supplement, <br />modification, waiver or termination is contained in a writing signed by such party. <br />(k) No party other than Senior Lender and Junior Lender shall have any rights <br />under, or be deemed a beneficiary of any of the provisions of, this Agreement. <br />(1) Nothing herein or in any of the Senior Loan Documents or Junior Loan <br />Documents shall be deemed to constitute Senior Lender as ajoint venturer or partner of <br />Junior Lender. <br />12. Disbursement Provisions. <br />(a) Junior Lender will disburse the proceeds of the Junior Loan (the "Junior <br />Loan Proceeds") only in accordance with, and subject to the terms and conditions of, the <br />budget, as approved by Senior Lender (the `Budget") and the Junior Loan Agreement. <br />Senior Lender will approve disbursement of the proceeds of the Senior Loan and the <br />Junior Loan only in accordance with, and subject to the terms and conditions of, the <br />Budget and the Loan Agreement. Except as specifically provided herein, this Agreement <br />does not amend, modify, waive or limit any provision, term or condition of the Junior <br />Loan Documents or the Senior Loan Documents. <br />(b) Junior Lender agrees that Junior Lender shall not make any disbursement <br />of Junior Loan Proceeds without the prior written approval of Senior Lender, which shall <br />not be unreasonably withheld. However, if required by the Junior Loan Agreement, <br />Junior Lender may retain an amount equal to not more than ten percent (10%) of the <br />Junior Loan Proceeds allocated to hard construction costs. <br />(c) Provided that no Junior Loan Default exists and remains uncured and <br />Borrower's request for disbursements of Junior Loan is made in accordance with the <br />Junior Loan Documents and the Budget, Junior Lender shall make the disbursement of <br />Junior Loan Proceeds that has been approved by Senior Lender by the later of: (a) five (5) <br />days after notice of approval by Senior Lender, or (b) ten (10) business days after <br />Borrower makes the request for such disbursement. Junior Lender agrees that it shall not <br />withhold approval of the disbursement of Junior Loan Proceeds requested by Borrower <br />unless a Jtmior Loan Default exists and remains uncured or the request for such <br />disbursement is not made in accordance with the Budget and the Junior Loan Documents <br />or the conditions precedent to the making of such disbursement have not been satisfied or <br />waived. <br />(d) In the event that Junior Lender fails to make a disbursement of Junior <br />Loan Proceeds that has been requested by Borrower and approved by Senior Lender (as a <br />result of a Junior Loan Default or otherwise), Senior Lender shall have the right, but not <br />the obligation, to make such disbursement to Borrower from Senior Lender's own funds <br />pursuant to the Senior Loan Documents. Any and all amounts paid by Senior Lender to <br />Borrower shall be deemed to have been advanced by Senior Lender pursuant to, and shalt <br />subordination and Inter creditor Agreement (HOMP.) 16 1he Guest House <br />