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201008393
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Last modified
11/10/2010 4:17:29 PM
Creation date
11/10/2010 4:17:28 PM
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DEEDS
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201008393
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2o�oos3s3 <br />13. ' ' '' Ta 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 ta, Barrower, the terms and conditions in this Agreernent 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 pariy, including but not lixnited to, Borrower and Guarantor(s). <br />� � This Agreement will inure to the benefit of and bind the <br />respective parties to this Agreement, and their successars and assigns, includipg any party acyuiring <br />the Third Party Laan 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 assignrnent. <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 ta 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 pracedures for purposes such as �1ing 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 af SBA with respect to the 504 Loan. <br />�6• T�wltu�tiQ,t� This d�cument will be released and terminated upon the paymertt in full of <br />either the Third Party Loart or the 504 loan and all costs related thereto. <br />17. ('oun � ,r�narts � 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 />1 $• �� �� In the event that any provision of this Agreement is deemed <br />invalid by a court of competent jurisdiction, all other provisions af this Agreement shall remarn valid <br />and enforceable. <br />19. Revi ion f this A reement. 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 provisiot�s, without prior written authorization from <br />the SBA. <br />20 • The persons signing below certify that they have been <br />duly autharized to execute this Agreement on behalf of their respective party. <br />SBA Form 2287 (August 2007) <br />
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