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<br /> . ; that there is an Event of Daf�ult by Owner or Borrower then outstandfng und�r the .
<br /> . �,:..�-�- Loan Documents, Manager shall promptly assign and transfer all accnunts and mc�ney �
<br /> �� with respect to the Facillty anc� the P�rmits (to the extent assignable by Manager) to
<br /> such party as Lencier may designate in its sole and absolute discretion and shall �� ���
<br /> " reasonably cooperate with Lender in all other respects. '"-
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<br /> � (b) Subordination of the Management Agreement tn Lien of Mort�ase•
<br /> ��j Any and all liens, rights and interests (whether choate or inchoate and including, '��'
<br /> ;? without limitation, all mechanic's and rnaterialman's liens under applicable law,and ��a.°=�__.
<br /> �� whether recorded or unrecorded) owned, claimed or held, or to be owned, claimed or : �__
<br /> �' held, by Manager in and to the Mortgaged Property pursuant to the Managenene
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<br /> "�� Agreement or otherwise, are and shall be in all sespects subordinate and inferior to ��''-�
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<br />: � ' the liens and security interests (i) created or to be created far the bene�t of Lendcr, ',��,"h=
<br /> its successors and assigns, and securing the repayment of the Note and the obligations '':�::-
<br /> � ���I of the Borrower under the I.oan Dacuments, and including,without limitation, those -
<br />_ � " �" ; created under and by virtue of the Mort�age covering, inter alia. the Mortga�ed ` -d
<br /> =•�s Praperty, and (ii) filed ar to be�led of record for the benefit of Lender, its successors _
<br /> ,,�,��. and assigns, in the public records maintained for the recording of mortgages ar deeds -�-'
<br /> af trust in the county and state in which the Facility is located, and all renewals and �`;
<br /> 4�''f' ��_�f� extensions thereof. The foregoing subordination af all liens, rights and interests by �
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<br /> _ _ '� Manager shall not affect Manager's rights or rennedies under the Management d
<br />,''�i�'� , . Agreement against Owner for non-payment of fees nr constitute a release of the =
<br /> �'_�.,��!7,; �. obligations uf Owiier.
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<br /> __R...,, (c) 1..enders Rtaht to Terminate. Upon thc occunence nf an Event of
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<br /> ��;.-`� Default under the I.oan Agreement, Manager, at the request of Lender, shall
<br /> _-.y:-�� continue performance, on behalf of I.ender, of all of Manager's obligations under the
<br /> terms of the IV�anagement Agreement; provIded that Lender sends to Manager the
<br /> �-'"�'��''� notice set forth in Sect'on 3 i hereof and performs or causes to be performed the
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<br /> 2=�`°' obligariQns of Owner to Manager under the Management Agreement accruing or
<br /> '=�-�=��` arising from and after, and witb respect to the period commencing upon, the effective -
<br /> �""� date of such notice. The Management Agreement may be terminated by L.ender `°'
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<br /> — (whether or not Lender requests that Manager conrinue performance in accordance =_
<br />_ °_°����"� with the preceding ssntGnce) eapon thirty (30)days prior vmitten notice to Owner and --
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<br />-_��-�� Loan A�greement, (ii) if the Manager commits any act which wauld permit termination =_
<br /> -� = by Owner under the Management Agreement or (fii) upan the occunence of any of ���
<br /> =''""`-`��� the events set f�rth in Article 5 of the Loan Agreement. Manager agrees not to look =
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<br /> �"""-•� ' to Lender for payment of any fees unless Lender has assumed in writing Owner's �;�_
<br /> _'�;`���� rights with respect to the Management Agreement. Upon the release of the -_
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