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2 <br /> AGREEMENT <br /> NOW, THEREFORE, in consideration of the mutual agreements and <br /> undertakings herein contained, the parties agree as follows: <br /> 1. Priorities. Regardless of the time each party's covenant or lien upon or interest in <br /> the Property was or shall be created or recorded, such liens and interests, including in the <br /> case of each Deed of Trust, Covenant, assignment of leases and rents, and any <br /> Statements filed in connection therewith, have and shall have the following priorities: <br /> A. First Priority. The Commerce Covenant shall be first in priority. The liens, <br /> rights and interests of the Lenders created under documents with a lesser priority as <br /> established in this Agreement are hereby made subordinate and subject to the liens, <br /> rights and interests of Commerce under the Commerce Covenant. <br /> B. Second Priority. The County Sales and Use Tax Covenant shall be in <br /> second priority. The liens, rights and interests of the Lenders created under documents <br /> with a lesser priority as established in this Agreement are hereby made subordinate and <br /> subject to the liens, rights and interests of the County under the County Covenant. <br /> C. Third Priority. The Commerce DOT shall be third in priority. The liens, <br /> rights and interests of the Lenders created under documents with a lesser priority as <br /> established in this Agreement are hereby made subordinate and subject to the liens, <br /> rights and interests of Commerce under the Commerce DOT. <br /> D. Fourth Priority. The County Sales and Use Tax DOT shall be in fourth <br /> priority. The liens, rights and interests of the Lenders created under documents with a <br /> lesser priority as established in this Agreement are hereby made subordinate, and <br /> subject to the liens, rights and interests of the County under the County Sales and Use <br /> Tax DOT. <br /> E. Fifth Priority. The City CDBG DOT shall be in fifth priority. The liens, rights <br /> and interests of the Lenders created under documents with a lesser priority as established <br /> in this Agreement are hereby made subordinate and subject to the liens, rights and <br /> interests of the City under the City CDBG DOT. <br /> F. Sixth Priority. The County CDBG DOT shall be in sixth priority. The liens, <br /> rights and interests of the Lenders created under documents with a lesser priority as <br /> established in this Agreement are hereby made subordinate and subject to the liens, rights <br /> and interests of the County under the County CDBG DOT. <br /> G. Seventh Priority. The City AHTF DOT.shall be in seventh priority. The liens, <br /> rights and interests of the Lenders created under documents with a lesser priority as <br /> established in this Agreement are hereby made subordinate and subject to the liens, rights <br /> and interests of City CDBG DOT. <br /> Page 5 of 12 <br /> 27 <br />