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201603850 <br />the Subordinate Mortgage and the other Subordinate Loan Documents are and shall be subject to <br />and subordinate in all respects to the liens, terms, covenants and conditions of the Senior <br />Security Instrument and the other Senior Loan Documents and to all advances heretofore made <br />or which may hereafter be made pursuant to the Senior Loan Documents (including but not <br />limited to, all sums advanced for the purposes of (A) protecting or further securing the lien of the <br />Senior Security Instrument, curing defaults by Borrower under the Senior Loan Documents or <br />for any other purpose expressly permitted by the Senior Loan Documents, or (B) constructing, <br />renovating, repairing, furnishing, fixturing or equipping the Mortgaged Property). <br />(b) Subordination of Subrogation Rights. <br />Subordinate Lender agrees that if, by reason of its payment of real estate taxes or other <br />monetary obligations of Borrower, or by reason of its exercise of any other right or remedy under <br />the Subordinate Loan Documents, it acquires by right of subrogation or otherwise a lien on the <br />Mortgaged Property which (but for this subsection) would be senior to the lien of the Senior <br />Security Instrument, then, in that event, such lien shall be subject and subordinate to the lien of <br />the Senior Security Instrument. <br />(c) Payments Before Senior Loan Default. <br />Until Subordinate Lender receives a Default Notice (or otherwise acquires actual <br />knowledge) of a Senior Loan Default, Subordinate Lender shall be entitled to retain for its own <br />account all payments made under or pursuant to the Subordinate Loan Documents. <br />(d) Payments After Senior Loan Default. <br />Borrower agrees that, after it receives a Default Notice (or otherwise acquires actual <br />knowledge) of a Senior Loan Default, it will not make any payments under or pursuant to the <br />Subordinate Loan Documents (including but not limited to principal, interest, additional interest, <br />late payment charges, default interest, attorneys' fees, or any other sums secured by the <br />Subordinate Loan Documents) without Senior Lender's prior written consent. Subordinate <br />Lender agrees that, after it receives a Default Notice (or otherwise acquires actual knowledge) of <br />a Senior Loan Default, it will not accept any payments under or pursuant to the Subordinate <br />Loan Documents (including but not limited to principal, interest, additional interest, late payment <br />charges, default interest, attorneys' fees, or any other sums secured by the Subordinate Loan <br />Documents) without Senior Lender's prior written consent. If Subordinate Lender receives <br />written notice from Senior Lender that the Senior Loan Default which gave rise to Subordinate <br />Lender's obligation not to accept payments has been cured, waived, or otherwise suspended by <br />Senior Lender, the restrictions on payment to Subordinate Lender in this Section 0 shall terminate, <br />and Senior Lender shall have no right to any subsequent payments made to Subordinate Lender by <br />Borrower prior to Subordinate Lender's receipt of a new Default Notice from Senior Lender in <br />accordance with the provisions of this Section 0(d). <br />(e) Receipt of Payment Not Permitted Hereunder. <br />If, after Subordinate Lender receives a Default Notice (or otherwise acquires actual <br />knowledge) of a Senior Loan Default, Subordinate Lender receives any payments under the <br />Subordination Agreement (Conventional) <br />Fannie Mae <br />Form 6414 <br />08 -14 <br />Page 7 <br />© 2014 Fannie Mae <br />