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11/14/03 <br />by a transferee, DEVELOPER's liability for performance shall be terminated as to any <br />obligation to be performed hercurider after the date of such Transfer. <br />17. If necessary for the financing of the acquisition of the Property, the <br />Executive Director shall take such actions as may be necessary to,subordinate the <br />requirements of this .Agreement to the lien of the Primary Loan Deed of Trust. In the, <br />event of a foreclosure by the Primary Lender, or Transfer by deed in lieu, this <br />Agreement and all covenants, except for the covenants against discrimination set forth <br />in Section 9, above, shall automatically terminate and be, of no further force or effect. <br />Such termination shall be automatic and self -effectuating. The City and Agency agree <br />to execute and record such additional documents and instruments as the Primary Lender <br />may deem necessary to confirm the effect of this section. <br />18. The Loan. Agreement and all of its attaoliments shall be enforceable by City <br />in accordance with the terms thereof: Each of the Loan ,Agreement, the Agreement <br />Containing Covenants, the City Loan Note (HOME)/A.gency Loan Note and the City <br />Loan Deed of'Trust (HOME)/Agency Loan Deed of Trust provide, a means of <br />onforcement by the City and the Agency if DEVELOPER is in breach of its obligations <br />hereunder and thereunder, including liens on the Property, deed restrictions and <br />covenants running with the land [24 CFR 92.504 (c) (13)]. <br />12 of 14 <br />