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2. Acknowledgment and Reaffirmation. Each of DOJ Lender, City and Borrower hereby (a) <br />acknowledge the receipt of the First Modification Agreement, (b) consents to the transactions described therein, <br />and (c) confirms that the Deed of Trust, as amended by the terms of the First Modification Agreement, <br />unconditionally remains a lien or charge on the Property prior and superior to the liens or charges of the DOJ <br />Recorded Instruments and City Recorded Instruments, respectively. Each of DOJ Lender, City and Borrower <br />further reaffirm that the terms of the Subordination Agreements, as amended by this Acknowledgment, are in <br />full force and effect with respect to the Deed of Trust and Loan Documents, as amended by the terms of the <br />First Modification Agreement, which such instruments shall be assigned to Cornerstone concurrently herewith <br />pursuant to the terms of the Bond Purchase Agreement. <br />3. Miscellaneous <br />(a) Assignment/Successors. This Acknowledgment shall be binding upon, and shall <br />inure to the benefit of the respective legal successors and assigns of the parties hereto. <br />(b) Further Assurances. Each party hereto agrees, at Borrower's expense, to execute <br />and deliver all additional instruments and/or documents reasonably required by Bank or Cornerstone <br />in order to further reaffirm the terms of the Subordination Agreements with respectto the Deed of Trust, <br />Loan Documents and all documents related thereto, or otherwise confirm the subordination of the DOJ <br />Recorded Instruments and City Recorded Instruments, respectively, to the lien of the Deed of Trust. <br />(c) Counterparts. This Acknowledgment may be executed in any number of <br />counterparts, each of which shall be considered an original for all purposes; provided, however, that <br />all such counterparts shall together constitute one and the same instrument. <br />(Remainder of Page Left Intentionally Blank.] <br />Schedule 1 to Memorandum of First Modification Agreement <br />