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98104800
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Last modified
3/12/2012 1:31:58 PM
Creation date
10/19/2005 6:00:37 PM
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DEEDS
Inst Number
98104800
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� �$- 1U48QU <br /> all terms, covenants and conditions of the Subordinate Documents to the terms, covenants and <br /> conditions of the Superior pocuments. <br /> 2. LiQuidations. Upon any distribution of any or all of the assets of Borrower in the <br /> event of(a) any insolvency or bankruptcy case or proceeding, or any receivership, liquidation, <br /> reorganization or other similar case or proceeding in connection therewith, relating to Borrower <br /> or its ,�reditors or assets, or (b) any assignment for the benefit of creditors or any other <br /> marshalling of assets and liabilities of Borrower, then until the holder of the Obligations shall have <br /> received indefeasible payment in full of all amounts due or to become due with respect thereto, <br /> including post-petition interest thereon, Subordinating Creditor shall not be entitled to receive any <br /> payment on account of principal of (or premium, if any) or interest on or with respect to the <br /> Subordinate Documents, and to that end, any payment or distribution of any kind or character, <br /> whether in cash, property or securities, which may be payable or deliverable to Subordinating <br /> Creditor in any such case, proceeding, dissolution, liquidation or other winding up or event, shall <br /> be paid or delivered to the trustee in bankruptcy for application (in the case of cash) to, or as <br /> collateral (in the case of non-cash property or securities) for, the payment or prepayment of the <br /> Obligations until the Obligations shall have been paid in full. <br /> > <br /> 3. �payment; Acceleration; Foreclosure. Until indefeasible payment in full of the <br /> Obligations, except as expressly provided in paragraph 6 hereof, (a) Subordinating Creditor shall <br /> have no right to foreclose pursuant to the Subordinate Security Documents or exercise any other <br /> remedy with respect to collateral securing the Subordinate Notes if such collateral then secures any <br /> unpaid Obligations owing to Lender; (b) Subordinating Creditor shall not receive, and Borrower <br /> shall not pay, any payments of principal, interest or other sums with respect to the Subordinate <br /> 4922863 5 <br />
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