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"Subordinate Loan Agreement" means, collectively, that certain First Amended and <br />Restated Loan Agreement dated as of July 5, 2017, by and between Subordinate Lender and <br />Borrower in connection with the Inclusionary Loan, that certain HOME Investment <br />Partnerships Program Loan Agreement dated as of July 5, 2017, by and between the <br />Subordinate Lender and Borrower in connection with the HOME Loan, and that certain <br />First Amended and Restated Loan Agreement dated as of July 5, 2017, by and between the <br />Subordinate Lender and Borrower in connection with the CDBG Loan. <br />"Subordinate Loan Default" means a default by the Borrower in performing or <br />observing any of the terms, covenants or conditions in the Subordinate Loan Documents or <br />Regulatory Agreement to be perfonned or observed by it, which continues beyond any <br />applicable period provided in the Subordinate Loan Documents or Regulatory Agreement <br />for curing the default. <br />"Subordinate Loan Documents" means the Subordinate Loan Agreement, <br />Subordinate Note, and all other documents evidencing, securing or otherwise executed and <br />delivered in connection with the Subordinate Loan, but excluding the Regulatory <br />Agreement. <br />"Subordinate Mortgage" means, collectively, that certain Inclusionary Deed of Trust <br />and Assignment of Rents executed by Borrower for the benefit of Subordinate Lender <br />encumbering the Property and to be recorded in the Official Records substantially <br />concurrently herewith to secure the Inclusionary Loan, that certain CDBG Deed of Trust <br />and Assignment of Rents executed by Borrower for the benefit of Subordinate Lender <br />encumbering the Property and to be recorded in the Official Records substantially <br />concurrently herewith to secure the CDBG Loan, and that certain Deed of Trust executed by <br />Borrower for the benefit of Subordinate Lender encumbering the Property and to be <br />recorded in the Official Records substantially concurrently herewith to secure the HOME <br />Loan. <br />"Subordinate Note" means, collectively, that certain Inclusionary Housing Funds <br />Promissory Note Secured by Subordinated First Amended and Restated Deed of Trust dated <br />as of July 5, 2017, made by Borrower in favor of the Subordinate Lender to evidence the <br />Inclusionary Loan, that certain CDBG Funds Promissory Note Secured by Subordinated <br />Deed of Trust dated as of May 1, 20M, made by Borrower in favor of the Subordinate <br />Lender to evidence the CDBG Loan, and that certain Promissory Note Secured by <br />Subordinated Deed of Trust dated as of July 5, 2017, made by Borrower in favor of the <br />Subordinate Lender to evidence the HOME Loan. <br />2. Permission to Place Mortgage Lien Against Property. <br />The Senior Lender agrees, notwithstanding the prohibition against inferior liens on the <br />Property contained in the First Mortgage Loan Documents or the Permanent Loan Documents, and <br />(Page -4) <br />LEGAL_US_W # 90627312.2 <br />