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• <br /> 9 <br /> Section 6.5(d)(ii)of the BECU Deed of Trust and any amounts secured by any other Lender's deed of <br /> trust shall not be accelerated as a result of any casualty loss or condemnation,unless BECU <br /> determines that the conditions for permitting release of proceeds for repair, completion or restoration <br /> set forth in Section 6.5(d)(ii)of the BECU Deed of Trust have not been met and BECU elects not to <br /> make such proceeds available for such repair,completion or restoration. Any funds to be applied to <br /> repair,completion or restoration shall be held and administered by BECU in accordance with the <br /> BECU Loan Documents,and BECU shall be entitled to reasonable compensation for its services in <br /> connection with the administration of such funds as set forth in BECU Deed of Trust. <br /> 3. Cross-Defaults. Any default under the BECU Loan Documents,the Everett Loan <br /> Documents,the Snohomish County Loan Documents or the State Loan Documents that, after being <br /> declared by the Lender entitled to declare such default,is not cured or waived within any applicable <br /> cure period set forth therein, shall constitute an event of default under the other Lenders' loan <br /> documents. <br /> 4. Reliance; Owner's Consent. It is understood by the parties hereto that BECU,the <br /> City of Everett, Snohomish County and the State would not enter into their respective loan documents <br /> without this Agreement. Owner consents to all the terms of this Agreement. <br /> 5. Certain Waivers. Any Lender,the lien of whose deed of trust is senior to that of one <br /> or more other Lenders pursuant to this Agreement(each a"Senior Lender"),may freely enter into <br /> extensions,modifications and renewals of its loan documents with Owner without notice to or consent <br /> of any other Lender and no such extension,modification or renewal shall affect the subordination <br /> made herein in whole or in part. Any Senior Lender,without the consent of or notice to any other <br /> Lender may release any or all parties liable for any obligation secured by such Senior Lender's loan <br /> documents,and may release or fail to perfect,its lien on any security for the obligations secured <br /> thereby, all without affecting the subordination under this Agreement. Each Lender hereby waives <br /> any right to require marshaling of assets or to require any Senior Lender to proceed against or exhaust <br /> any specific security for the obligations secured by the Senior Lender's loan documents, and waives <br /> any defense arising out of the loss or impairment of any right of subrogation to the lien of the Senior <br /> Lender's loan documents. <br /> 6. Rents. The City of Everett, Snohomish County and the State acknowledge that, <br /> pursuant to the BECU Loan Documents, Owner has assigned to or for the benefit of BECU all leases, <br /> income,rents,and profits of the Mortgaged Property. The parties agree that upon an Event of Default <br /> under the BECU Loan Documents,BECU shall have the absolute right to collect all rents and profits <br /> from the Mortgaged Property as provided in the BECU Loan Documents. <br /> 7. Tenant Rights. The City of Everett, Snohomish County and the State agree that in <br /> any action taken to foreclose either such party's deed of trust,no residential tenant of any portion of <br /> the Property will be named as a party defendant,nor will any other action be taken that would <br /> terminate any residential tenancy of the Property without the prior written consent of BECU. <br /> 8. Miscellaneous. <br /> (a) Entire Agreement. This Agreement is the entire agreement among the parties <br /> with respect to the priority of each Lender's interests in the Mortgaged Property,and all prior <br /> understandings and agreements on that subject are superseded by this Agreement. <br /> 075440-0196/4825-7411-2185.1 Page 6 <br /> 58 <br />