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<br /> <br />Subordination Agreement (City of Santa Ana) Form 6456 Page 13 <br />Fannie Mae 08-13 © 2013 Fannie Mae <br /> [Crossroads at Washington] <br />4870-7010-6914v.2 0017787-000542 <br />Subordinate Lender will not unreasonably withhold, delay or condition its consent to any such <br />proposed transfer. <br />(b) Compliance with Subordinate Loan Documents. Notwithstanding anything to the <br />contrary set forth in the Unsubordinated City Regulatory Agreements, from and after any <br />foreclosure or deed in lieu of foreclosure, neither Senior Lender nor any successor in interest to <br />the Property following any foreclosure or deed in lieu of foreclosure of the Senior Deed of Trust <br />(collectively, the “Successor Owner”), shall be obligated to comply with the terms of any <br />Subordinate Loan Document, and neither Senior Lender nor any Successor Owner shall have any <br />obligation to repay the Subordinate Loans. <br />(c) Indemnification Provisions in Unsubordinated City Regulatory Agreements. <br />Notwithstanding anything to the contrary set forth in the Unsubordinated City Regulatory <br />Agreements, in no event shall Senior Lender or any Successor Owner be liable to Subordinate <br />Lender for amounts due to the Subordinate Lender under the Unsubordinated City Regulatory <br />Agreements as the result of an act or a failure to act occurring prior to the date on which Senior <br />Lender or its successor, assigns, or nominee acquires title to the Mortgaged Property by foreclosure <br />or deed in lieu of foreclosure. <br />(d) Default Under Unsubordinated City Regulatory Agreements. No Successor Owner <br />shall be required to cure any default under the Unsubordinated City Regulatory Agreements first <br />occurring prior to the date upon which such Successor Owner acquired title to the Mortgaged <br />Property, except that each Successor Owner shall be required to cure continuing defaults under the <br />Unsubordinated City Regulatory Agreement related to the Mortgaged Property; provided further, <br />however, that each such Successor Owner shall have 120 days after the date upon which it acquires <br />title to the Mortgaged Property to cure such continuing defaults, or, if any such continuing default <br />is not reasonably susceptible to a cure by such Successor Owner within such period, to commence <br />curing such default (and in such latter case, such Successor Owner shall thereafter continuously <br />and diligently pursue the cure of such default to completion). <br />14. Reinstatement. <br />To the extent that Borrower makes a payment to Senior Lender or Senior Lender receives <br />any payment or proceeds of the collateral securing the Senior Loan for Borrower’s benefit, which <br />payment or proceeds or any part thereof are subsequently invalidated, declared to be fraudulent or <br />preferential, set aside and/or required to be repaid to a trustee, receiver or any other party under <br />any bankruptcy law, state or federal law, common law or equitable doctrine, then to the extent of <br />such payment or proceeds received and not retained by Senior Lender, this Agreement shall be <br />reinstated and continue in full force and effect until full and final payment shall have been made <br />to Senior Lender. Subordinate Lender agrees to hold in trust for Senior Lender and promptly remit <br />to Senior Lender any payments received by Subordinate Lender after such invalidated, rescinded <br />or returned payment was originally made. <br />EXHIBIT 7