3 - LOAN AGREEMENT FOR AMCAL_2018-01-16

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Subordination Agreement (Affordable) Page 3 (First Street Apartments) “Condemnation Action” means any action or proceeding, however characterized or named, relating to any condemnation or other taking, or conveyance in lieu thereof, of all or any part of the Mortgaged Property, whether direct or indirect. “Control” (including with correlative meanings, the terms “Controlling,” “Controlled by” and “under common Control with”), as applied to any entity, means the possession, directly or indirectly, of the power to direct or cause the direction of the management or operations of such entity, whether through the ownership of voting securities, ownership interests or by contract or otherwise. “Default Notice” means: (a) a copy of any written notice from Senior Lender to Borrower and Subordinate Lender stating that a Senior Loan Default has occurred under the Senior Loan Documents; or (b) a copy of the written notice from Subordinate Lender to Borrower and Senior Lender stating that a Subordinate Loan Default has occurred under the Subordinate Loan Documents or the Affordability Restrictions. Each Default Notice shall specify the default upon which such Default Notice is based. “Person” means an individual, an estate, a trust, a corporation, a partnership, a limited liability company or any other organization or entity (whether governmental or private). “Permanent Loan Agreement” means that certain Multifamily Loan and Security Agreement to be delivered by Borrower to Senior Lender in connection with the Permanent Loan. “Permanent Note” means that certain Multifamily Note in the amount of up to $[7,425,426] to be delivered by Borrower to Senior Lender to evidence the Permanent Loan. “Permanent Mortgage” means that certain Multifamily Deed of Trust, Assignment of Leases and Rents, Security Agreement and Fixture Filing to be delivered by Borrower to Senior Lender and encumbering the Property to secure the obligations of Borrower under the Permanent Note, which Permanent Mortgage will become the Senior Security Instrument upon Conversion. “Permanent Loan Documents” means the Permanent Note, the Permanent Mortgage, Permanent Loan Agreement and all other documents evidencing, securing or otherwise executed and delivered in connection with the Permanent Loan. “Senior Lender” means the Person named as such in the first paragraph on Page 1 of this Agreement, its successors and assigns and any other Person who becomes the legal holder of the Senior Loan after the date of this Agreement. Following Conversion, the Senior Lender means the holder of the Permanent Loan. “Senior Loan Default” means the occurrence of an “Event of Default” as that term is defined in the Senior Loan Documents, including, following Conversion of the Senior Loan, the Permanent Loan Documents. “Senior Loan Documents” means the Senior Security Instrument, the Senior Note, the Senior Loan Agreement, and all other “Loan Documents” as that term is defined in the Senior Loan Agreement, and following the Conversion of the Senior Loan, the Permanent Loan Documents. EXHIBIT 4 3-141