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201103147
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201103147
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Last modified
5/25/2011 8:53:18 AM
Creation date
4/26/2011 12:07:05 PM
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DEEDS
Inst Number
201103147
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20110314� <br />13. No Imnlied Third Partv Beneficiazies. To 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 to, Borrower, the terms and conditions in this Agreement 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 party, including but not limited to, Borrower. <br />14. �i�c�Pscors and Assig�s, 'This Agreement will inure to the benefit of and hind the <br />respective parties to this Agreement, and their successors and assigns, including any party acquiring <br />the Third Party Loan and Third Party Lender Lien by sale, assignment, or other transfer from Third <br />Party Lender. Third Party Lender agees that CDC may assign this Agreement to the SBA, and <br />waives all rights to contest such assignment. <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 to the CDC Lien on the Common Collateral), <br />this Agreement and all such inshuments will be construed in accordance with Federal law. CDC or <br />SBA may use local or state procedures for purposes such as filing 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 sta.te control, penalty, tax, or liability. The Third Party Lender may not <br />claim or assert against SBA any local or sta.te law to deny any obligation of Borrower, or defeat any <br />claim of SBA with respect to the 504 Loan. <br />16. Termination: This document will be released and terminated upon the payment in full of <br />either the T'hird Party Loan or the 5041oan and all costs related thereto. <br />17. o�n e art,� 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 />18. yali i of Provisions. In the event that any provision af this Agreement is deemed <br />invalid by a court of competent jurisdiction, all other provisions of this Agreement shall remain valid <br />and enforceable. <br />19. Revision of this A�reement. Both Third Pariy 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 provisions, without prior written authorization from <br />the SBA. <br />20. t hori to Fxecute A emen . The persons signing below certify that they have been <br />duly authorized to execute this Agreement on behalf of their respective party. <br />SBA Form 2287 (September 2010) <br />
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