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conditions as this Subordination Agreement. Notwithstanding anything to the contrary in this <br />Section 9, or in Section 4(a) above, the Senior Lender shall not, without the prior written consent of <br />the Subordinate Lender in each instance, which shall not be unreasonably withheld, take any action <br />which has the effect of increasing the indebtedness outstanding under, or secured by, the First <br />Mortgage Loan Documents, increasing the required payments due under the First Mortgage Loan, <br />decreasing the term of the First Mortgage Loan, or increasing the interest rate on the First Mortgage <br />Loan, except that the Senior Lender shall have the right to advance funds to cure Subordinate Loan <br />Defaults pursuant to Section 5(a) above and advance funds pursuant to the First Mortgage for the <br />purpose of paying real estate taxes and insurance premiums, making necessary repairs to the <br />Property and curing other defaults by the Borrower under the First Mortgage Loan Documents. <br />Following Conversion, all the terms and covenants of this Agreement shall inure to the benefit of <br />any holder of the Permanent Loan; and all references to the First Mortgage Loan, the First Mortgage <br />Note and the First Mortgage Loan Documents shall mean, respectively, the Permanent Loan, the <br />Permanent Note and the Permanent Loan Documents. <br />10. Default by the Subordinate Lender or Senior Lender. <br />If the Subordinate Lender or Senior Lender defaults in performing or observing any of the <br />terms, covenants or conditions to be performed or observed by it under this Agreement, the other, <br />non -defaulting lender shall have the right to all available legal and equitable relief. <br />11. Notices. <br />Each notice, request, demand, consent, approval or other communication (hereinafter in this <br />Section referred to collectively as "notices" and referred to singly as a "notice") which the Senior <br />Lender or the Subordinate Lender is required or permitted to give to the other party pursuant to this <br />Agreement shall be in writing and shall be deemed to have been duly and sufficiently given if. <br />(a) personally delivered with proof of delivery thereof (any notice so delivered shall be deemed to <br />have been received at the time so delivered); or (b) sent by Federal Express (or other similar <br />national overnight courier) designating early morning delivery (any notice so delivered shall be <br />deemed to have been received on the next Business Day following receipt by the courier); or <br />(c) sent by United States registered or certified mail, return receipt requested, postage prepaid, at a <br />post office regularly maintained by the United States Postal Service (any notice so sent shall be <br />deemed to have been received two days after mailing in the United States), addressed to the <br />respective parties as follows: <br />SENIOR LENDER (Prior to Conversion): <br />Bank of America, N.A. <br />Community Development Banking <br />CA4-702-02-29 <br />2001 Clayton Road, 2nd Floor <br />Concord, CA 94520 <br />LEGAL -US W # 90345775.4 <br />0i7t. WGIVAR) <br />Santa Ana Arts Collective, L.P. <br />c/o Meta Housing Corporation <br />1640 S. Sepulveda Blvd., Suite 425 <br />Los Angeles, CA 90011 <br />Attention: President <br />(Page -12) <br />55C-244 <br />