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Mortgage Loan Documents, and (ii) the Subordinate Mortgage and the other Subordinate <br />Loan Documents are and shall be subject and subordinate in all respects to the liens, terms, <br />covenants and conditions of the First Mortgage and the other First Mortgage Loan <br />Documents and to all advances heretofore made or which may hereafter be made pursuant to <br />the First Mortgage and the other First Mortgage Loan Documents (including but not limited <br />to, all sums advanced for the purposes of (1) protecting or further securing the lien of the <br />First Mortgage, curing defaults by the Borrower under the First Mortgage Loan Documents <br />or for any other purpose expressly permitted by the First Mortgage, or (2) constructing, <br />renovating, repairing, furnishing, fixturing or equipping the Property). <br />(b) Subordination of Subrogation Rights. The Subordinate Lender agrees that <br />if, by reason of its payment of real estate taxes or other monetary obligations of the <br />Borrower, or by reason of its exercise of any other right or remedy under the Subordinate <br />Loan Documents, it acquires by right of subrogation or otherwise a lien on the Property <br />which (but for this subsection) would be senior to the lien of the First Mortgage, then, in that <br />event, such lien shall be subject and subordinate to the lien of the First Mortgage. <br />(c) Payments Before First Mortgage Loan Default. Until the Subordinate <br />Lender receives a Default Notice of a First Mortgage Loan Default from the Senior Lender, <br />the Subordinate Lender shall be entitled to retain for its own account all payments made <br />under or pursuant to the Subordinate Loan Documents. <br />(d) Payments After First Mortgage Loan Default. The Borrower agrees that, <br />after it receives notice (or otherwise acquires knowledge) of a First Mortgage Loan Default, <br />it will not make any payments under or pursuant to the Subordinate Loan Documents <br />(including but not limited to principal, interest, additional interest, late payment charges, <br />default interest, attorney's fees, or any other sums secured by the Subordinate Mortgage) <br />without the Senior Lender's prior written consent. The Subordinate Lender agrees that, after <br />it receives a Default Notice from the Senior Lender with written instructions directing the <br />Subordinate Lender not to accept payments from the Borrower on account of the <br />Subordinate Loan, it will not accept any payments under or pursuant to the Subordinate <br />Loan Documents (including but. not limited to principal, interest, additional interest, late <br />payment charges, default interest, attorney's fees, or any other sums secured by the <br />Subordinate Mortgage) without the Senior Lender's prior written consent. If the <br />Subordinate Lender receives written notice from the Senior Lender that the First Mortgage <br />Loan Default which gave rise to the Subordinate Lender's obligation not to accept payments <br />has been cured, waived, or otherwise suspended by the Senior Lender, the restrictions on <br />payment to the Subordinate Lender in this Section 4 shall terminate, and the Senior Lender <br />shall have no right to any subsequent payments made to the Subordinate Lender by the <br />Borrower prior to the Subordinate Lender's receipt of a new Default Notice from the Senior <br />Lender in accordance with the provisions of this Section 4(d). <br />(Page -6) <br />LEGAL_US_W # 90627312.2 <br />