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l) AU .I f)RAF..l. <br /> 7. Subordination <br /> a. Purchase Money Note/Purchase Money Deed of Trust/Purchase <br /> Money Guarantees. Notwithstanding any other provision in the Agreement, Seller has no <br /> obligation to execute any document that subordinates Purchase Money Deed of Trust <br /> unless such subordination is in accordance with paragraph 2.a of the Agreement. <br /> b. City Parking Easement/Proiect Construction Covenant. <br /> Notwithstanding any other provision in the Agreement, Seller has no obligation to <br /> execute any document that (i) subordinates or otherwise limits in any way Seller's rights <br /> to enforce by equitable remedies, including without limitation injunctions and specific <br /> performance, any and all provisions of the Agreement, City Parking Easement, or the <br /> Project Construction Covenant or Seller's rights to exercise the purchase options <br /> contained in Sections 5.6 and 5.7 of the Project Construction Covenant or (ii) causes any <br /> portion of the City Parking Easement or the Project Construction Covenant to he <br /> extinguished or otherwise limited in any way by any foreclosure, trustee sale, deed-in- <br /> lieu of foreclosure or transfer of the Property. Notwithstanding any other provision in <br /> the Agreement, Seller has no obligation to close unless the EB-5 Deed of Trust is signed <br /> by its beneficiary and the EB-5 Deed of Trust provides that the EB-5 Deed of Trust (x) <br /> does not limit in any way Seller's rights to enforce by equitable remedies, including <br /> without limitation injunctions and specific performance, any and all provisions of the <br /> Agreement, City Parking Easement, and the Project Construction Covenant or Seller's <br /> rights to exercise the purchase options contained in Sections 5.6 and 5.7 of the Project <br /> Construction Covenant and (y) cannot extinguish or otherwise limit any provision of the <br /> City Parking Easement or the Project Construction Covenant in any way by any <br /> foreclosure, trustee sale, deed-in-lieu of foreclosure or transfer of the Property. <br /> 8. Project Design Criteria. Purchaser and Seller hereby agree that the Project Design <br /> Criteria defined in Section 4.d of the Agreement shall, among other things, incorporate the <br /> following criteria: <br /> a. The Project will not require a storm water detention vault. <br /> b. City Parkers will share an automobile entrance with hotel users at the Wall <br /> Street entrance to the parking garage for the Project. Further, pedestrians, including those who <br /> have parked in the parking garage, will enter and exit the parking garage from an access point to <br /> be located at the alley on the east side of the Property. <br /> c. The parking garage clearance height will be 7 feet and 0 inches,except <br /> that it shall be higher to the extent required per code for access to handicap van spaces. <br /> d. The approved schematic plan for the Project is attached hereto as <br /> Exhibit A. <br /> 6 <br /> t) t f11"4' DRAFT <br />