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201302752
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Last modified
8/19/2014 2:22:43 PM
Creation date
4/8/2013 8:37:07 AM
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DEEDS
Inst Number
201302752
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14. • . a • as This Agreement will inure to the benefit of and bind the <br />respective parties to this Agreement, and their successors and assigns, including any party acquiring <br />the Third Party Loan and Third Party Lender Lien by sale, assignment, or other transfer from Third <br />Party Lender. Third Party Lender agrees that CDC may assign this Agreement to the SBA, and <br />waives all rights to contest such assignment. <br />201302752 <br />13. No Implied Third Party Beneficiaries. To the extent there is a conflict between this <br />Agreement and any provision in any agreement either Party may have with a third party, including but <br />not limited to, Borrower, the terms and conditions in this Agreement shall supercede any such <br />provision. The parties agree that SBA may enforce this agreement as a third party beneficiary, and <br />further agree that this Agreement shall not grant any right, benefit, priority, or interest to any other <br />third party, including but not limited to, Borrower. <br />15. Federal Law. When SBA is the holder of the loan instruments evidencing the 504 Loan <br />and any security for that loan (including but not limited to the CDC Lien on the Common Collateral), <br />this Agreement and all such instruments will be construed in accordance with Federal law. CDC or <br />SBA may use local or state procedures for purposes such as filing papers, recording documents, giving <br />notice, foreclosing liens, and other purposes, but by using these procedures, SBA does not waive any <br />federal immunity from local or state control, penalty, tax, or liability. The Third Party Lender may not <br />claim or assert against SBA any local or state law to deny any obligation of Borrower, or defeat any <br />claim of SBA with respect to the 504 Loan. <br />16. Termination: This document will be released and terminated upon the payment in full of <br />either the Third Party Loan or the 504 loan and all costs related thereto. <br />17. Counterparts. This Agreement may be executed in any number of counterparts, each of <br />which will be deemed an original, and all of which together constitute one and the same instrument. <br />18. Validity of Provisions. In the event that any provision of this Agreement is deemed <br />invalid by a court of competent jurisdiction, all other provisions of this Agreement shall remain valid <br />and enforceable. <br />19. Revision of this Agreement. Both Third Party Lender and CDC agree that this <br />Agreement is a standard SBA Form, and, as such, neither party has authority to modify or delete any <br />provision in this Agreement, or add any additional provisions, without prior written authorization from <br />the SBA. <br />20. Authority to Execute Agreement. The persons signing below certify that they have been <br />duly authorized to execute this Agreement on behalf of their respective party. <br />SBA Form 2287 (September 2010) 5 <br />
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