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8 <br /> by means of such foreclosure or deed in lieu thereof or that is a successor to one who acquires <br /> the Property by such means,for so long as such person shall retain an interest in the Property. <br /> (b) Second Priority. The HTF Covenant shall have second priority. The <br /> liens, 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 rights and <br /> interests of Commerce under the HTF Covenant. subject to the terms of the HTF Covenant, <br /> the HTF Covenant shall survive foreclosure of any lien with a lesser priority as established in <br /> this Agreement and shall be binding upon any person that acquires the Property by means of <br /> such foreclosure or deed in lieu thereof or that is a successor to one who acquires the Property <br /> by such means, for so long as such person shall retain an interest in the Property. <br /> (c) Third Priority. The City Regulatory Agreement shall have third <br /> priority. The liens, rights and interests of the Lenders created under documents with a lesser <br /> priority as established in this Agreement are hereby made subordinate and subject to the rights <br /> and interests of the City under the City Regulatory Agreement. Subject to the terms of the <br /> City Regulatory Agreement, the City Regulatory Agreement shall survive foreclosure of any <br /> lien with a lesser priority as established in this Agreement and shall be binding upon any <br /> person that acquires the Property by means of such foreclosure or deed in lieu thereof or that <br /> is a successor to one who acquires the Property by such means, for so long as such person <br /> shall retain an interest in the Property. <br /> (d) Fourth Priority. The Bank Deed of Trust shall be fourth in priority. <br /> The liens,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 lien, security <br /> interest, and all other rights granted to the Bank under the Bank Deed of Trust with respect to <br /> all sums due or to become due to the Bank under the Bank Documents, including, without <br /> limitation, interest and all present and future advances made by the Bank thereunder, <br /> regardless of whether such advances are deemed to be mandatory or optional, and all <br /> subsequent modifications, extensions,renewals, and replacements of the Bank Documents. <br /> (e) Fifth Priority. The County Deed of Trust shall be fifth in priority. The • <br /> liens, 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 rights and <br /> interests of the County under the County Deed of Trust. <br /> (g) Sixth Priority. The HTF Deed of Trust shall be sixth in priority. The <br /> liens, 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 rights and <br /> interests of Commerce under the HTF Deed of Trust. <br /> (f) Seventh Priority. The City Deed of Trust shall be seventh in priority. <br /> The liens, rights and interests of the Lenders created under documents with a lesser priority as <br /> Silver Lake Cottages <br /> Priority and Subordination Agreement Page 4 <br /> 86 <br />