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2oioos3s� 9. a. The term "Default Charges" used in this paragraph includes, but is not limited to, prepayment penalties, late fees, other default charges, and escalated interest after default due under the Third Party Loan. b. To the extent the Third Party Lender Lien s�cures axay arnounts attributable to Default Charges, which may exist in the Third Party Loan and Third Party Lender Lien, Third Party Lender Lien is and will be subordinate to the 504 Laan and the CDC Lien. This su6ordination applies anly to CDC and SBA and their successors and assigns, and in no event shall be applicable to Borrower or at�y guarantor of the Third Party Loan. c. In the event of default under the Third Party Laan, CDC or SBA may bring the Third Party Loan current or may acquire the Third Party �,oan secured by the Third Party Lender Lien. Third Party Lender agrees that in either of these circumstances, the amount ta bring the Third Party Loan current or the purchase price of that loan will be net of all amounts attributable to the Default Charges so subordinated to the 504 Loan and the CDC Lien. Third Party Lender further agrees that if it receives from CDC/SBA any amounts attributable to such Default Charges, Third Party Lender holds such funds in trust for SBA and will remit such funds to SBA as soon as possible. Should CDC or SBA not purchase the Third Party Loan but rather bring the Third Party loan current, Default Char�es on the Third Party Loan may remain due and owing from the Borrower. X 10. �jdation_ In the event that erther the Third Party �,oan or the 504 Loan is declared in default, Third Party Lender ar�d CDC and SBA agree ta cooperate in liquidating and/or selling the Collateral. Third Party Lender agrees to (a) accept a U.S. Treasury check(s) in connection with any purchase of Third Party Lender's note or any foreclosure or liquidation bid by CDC ar SBA; (b) to provide CDC and SBA with the loan payment sCatus, loan payment history, and an itemized payoff statement of the Third Party Loan; (c) to provide CDC and SBA with copies of any appraisals, environmental investigatians, or title exarninations or searches of the Collateral conducted by or far Third Party Lender; and (d) to provide any other information about Barrower or the Third Party Loan requested by CDC and SBA in writing. � 1 ' � If Third Party Lender's documents contain provisions granting Third Party Lettder the right to indemni�cation by subsequent owners of the Project Properiy, then Third Party Lender waives its right to enforce such provisions against S�A or CDC in the event SBA or CDC acquires title to the Project Praperty through fareclosure of the CDC Lien, acceptance of a deed in lieu of foreclosure, or otherwise. 12 • If Third Party Lender is regulated by or►e of the Federal functional regulators (Comptraller of the Currency, Federal Deposit Insurance Corporation, Office af Thrift Supervision, or National Credit Union Administration), Third Party Lender represents that it is subject to the Joint Final Rule o[� Customer ldentification Programs (CIP) in 31 C.P.R. 103.1� 1 and that it or its agent wi11 perform with respect to the Borrower the specified requirements of its CIP. SBA Form 2287 (August 2007)