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99 � 06858 � � � �: � � F� ^ �, ._ by deed in lieu of foreclosure shall constitute a voluntary sale, transfer or other disposition of the Project, it being understood and agreed that this Section 11 shall not be applicable to any transfer of the Project or any membership interest in the Borrower to or by the Issuer or any successor in interest to the Issuer,as applicable following foreclosure or deed in lieu of foreclosure,provided the conditions of Section 12(b) and (d)hereof are satisfied. Nothing contained in this Section 11 shall affect any provision of any other document or instrument between the Borrower or any other party which requires the Borrower to obtain the consent of such other party or pay any transfer fee as a precondition to sale, transfer or other disposition of the Project. Upon any sale or other transfer which complies with this Regulatory Agreement and the Mortgage,and upon indemnification of each Indemnified Party by the Borrower for acts or omissions occurring during such period as the Borrower owned the Project,the Borrower shall be fully released from its obligations hereunder, to the extent such obligations have been assumed by the transferee of the Project, without the necessity of further documentation. Section 12. Term. (a) This Regulatory Agreement and all and each of the provisions hereof shall become effective upon its execution and delivery, and shall remain in full force and effect for the periods provided herein and, except as otherwise provided in this Section 12, shall terminate in its entirety at the end of the Qualified Project Period (Bonds) or the Qualified Proj ect Period(LIHTC),whichever is later,it being expressly agreed and understood that the provisions hereof which are required to remain in effect for the Qualified Project Period (Bonds)shall terminate at the end of the Qualified Proj ect Period(Bonds)and the provisions hereof which are required to remain in effect for the Qualified Project Period(LIHTC)shall terminate at the end of the Qualified Proj ect Period(LIHTC);provided,further,that,except as otherwise provided in this Section 12, the provisions hereof aze intended to survive the retirement of the Bonds, discharge of the Mortgage Loan and termination of the Indenture and the Financing Agreement. (b) Specifically with respect to the 15-year extended use period of the Qualified Project Period (LIHTC), (i) notwithstanding subsection(a)above,the Borrower shall comply with the requirements of Section 42(h)relating to a 15-year extended use period(30 years total);provided,however,that,with respect to any building that is part of the Proj ect, this Regulatory Agreement shall terminate: (A) on the date such building is acquired by foreclosure or instrument in lieu of foreclosure (including a deed of trust); or (B) if the Borrower has properly requested in accordance with Code Section 42(h)(6)within the period specified in Section 42(h)(6)(I)that the Issuer assist in procuring a"qualified contract," as defined in Section 42 of the Code, for the acquisition of the low-income portion of such building 24