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201603850 without the prior written consent of Senior Lender. The First Subordinate Note is due and payable in full on June 30, 2030 ( "Maturity "). The principal of the First Subordinate Note will have a balloon principal payment no greater than $930,000 due at Maturity. The First Subordinate Note obligates Borrower to make annual payments equal to 75% of surplus cash flow after payment of all amounts due and owing under the Senior Loan Documents and all operating expenses for the Mortgaged Property. (ii) The original principal amount of the Second Subordinate Note is $1,133,000.00. Interest on the Second Subordinate Note accrues at the rate five percent (5.0 %) per annum for five years then shall increase to a rate one and one -half percent over the 30 year mortgage rate as published by the Wall Street Journal, which rate may not otherwise be increased without the prior written consent of Senior Lender. The Second Subordinate Note is due and payable in full on June 30, 2030 ( "Maturity "). The principal of the Second Subordinate Note will have a balloon principal payment no greater than $1,133,000 due at Maturity. The Second Subordinate Note obligates Borrower to make annual payments equal to 75% of surplus cash flow after payment of all amounts due and owing under the Senior Loan Documents and all operating expenses for the Mortgaged Property. (d) Relationship of Borrower to Subordinate Lender and Senior Lender. Subordinate Lender is an Affiliate of Borrower but is not in possession of any facts which would lead it to believe that Senior Lender is an Affiliate of Borrower. (e) Term. The term of the Subordinate Note does not end before the stated term of the Senior Note. (f) Subordinate Loan Documents. The executed Subordinate Loan Documents are substantially in the same forms as those submitted to, and approved by, Senior Lender prior to the date of this Agreement. 5. Deliveries. Borrower shall provide true and correct certified copies of the Subordinate Loan Documents to Senior Lender as of the Effective Date (as defined in the Senior Loan Agreement). Borrower agrees to provide certified copies of Senior Loan Documents to Subordinate Lender within ten (10) days after the Effective Date. 6. Terms of Subordination. (a) Agreement to Subordinate. Senior Lender and Subordinate Lender agree that (1) the indebtedness evidenced by the Subordinate Loan Documents is and shall be subordinated in right of payment, to the extent and in the manner provided in this Agreement, to the prior payment in full of the Indebtedness evidenced by the Senior Loan Documents, and (2) the liens, terms, covenants and conditions of Subordination Agreement (Conventional) Fannie Mae Form 6414 08 -14 Page 6 © 2014 Fannie Mae