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201iO314� 9. �»bordination to 504 Loan and CDC Lie�, of Amounts Attributable to l�fa�l Provisions. 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 secures any amounts 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 Loan and the CDC Lien. This subordination applies only to CDC and SBA and their successors and assigns, and in no event shall be applicable to Bonower or any guarantor of the 'Third Party Loan. c. In the event of default under the Third Party Loan, CDC or SBA may bring the Third Pa.rty Loan cunent or may acquire the Third Party Loan secured by the Third Parly Lender Lien. Third Party Lender agrees that in either of these circumsta,nces, the amount to bring the Third Party Loan current or the purchase price of that loan will be net of all amounts attributa,ble 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 Charges on the Third Party Loan may remain due and owing from the Borrower. Paf^agraph 10 is optional and is applicable only if marked X 10. Li�uidation. In the event that either the Third Party Loan or the 504 Loan is declared in default, Third Party Lender and CDC and SBA agree to cooperate in liquida.ting and/or selling the Collatera.l. Third Pariy Lender agees 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 or SBA; (b) to provide CDC and SBA with the loan payment sta.tus, 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 investigations, or title examinations or searches of the Collateral conducted by or for Third Party Lender; and (d} to provide any other information about Borrower or the Third Party Loan requested by CDC and SBA in writing. 11. Waiver of Ri,ght to nde nification by SBA or CDC. If Third Party Lender's documents contain provisions granting Third Party Lender the right to indemnification by subsequent owners of the Project Property, then Third Party Lender waives its right to enforce such provisions against SBA or CDC in the event SBA or CDC acquires title to the Project Property through foreclosure of the CDC Lien, acceptance of a deed in lieu of foreclosure, or otherwise. PaYagraph 12 is optionad and should be mar•ked df CDC uses Third Party Lender to perf'orm Customer Identafication. X 12. Ba_nk Re �tato , Issues. If Third Party Lender is regulated by one of the Federal functional regulators (Comptroller of the Curtency, Federal Deposit Insurance Corporation, Office of Thrift Supervision, or National Credit Union Administration), Third Pa.rty Lender represents that it is subject to the Joint Final Rule on Customer ldentification Programs (CIP) in 31 C.F.R. 103.121 and that it or its agent will perform with respect to the Borrower the specified requirements of its CIP. SBA Form 2287 (September 2010) 4