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Priority and Subordination Agreement 19 Teanaway Court on the part of the Senior Lender of any provision of its Senior Loan Documents or this Agreement. e. In the event that an Enforcement Action taken by the Subordinate Lender is the appointment of a receiver for any of the Property, all of the Rents, issues, profits and proceeds collected by the receiver, net of costs and fees that the receiver is authorized to pay or receive as allowed by the court, shall be paid and applied by the receiver solely to and for the benefit of the Senior Lender in the order and priority set forth in Section 2(b) until the Senior Indebtedness shall have been paid in full. f. The Subordinate Lender hereby expressly consents to and authorizes the release by the Senior Lender of all or any portion of the Property from the lien, operation, and effect of their respective Senior Loan Documents. The Subordinate Lender hereby waives to the fullest extent permitted by law, all equitable or other rights it may have (i) in connection with any release of all or any portion of the Property, (ii) to require the separate sale of any portion of the Property, (iii) to require the Senior Lender to exhaust its remedies against any portion of the Property or any combination of portions of the Property or any other collateral for its Senior Indebtedness, or (iv) to require the Senior Lender to proceed against the Partnership, any other party that may be liable for any of the Senior Indebtedness (including any partner of the Partnership), any portion of the Property or combination of portions of the Property, or any other collateral, before proceeding against all or such portions or combination of portions of the Property as the Senior Lender determines. The Subordinate Lender hereby expressly consents to and authorizes, in the event of a Senior Loan Default and a judicial or nonjudicial foreclosure, or disposition of personal property collateral, in each case under applicable law, at the option of the Senior Lender, the sale, either separately or together, of all or any portion of the Property. The Subordinate Lender acknowledges that without notice to Subordinate Lender and without affecting any of the provisions of this Agreement, the Senior Lender may (i) extend the time for or waive any payment or performance under the Senior Loan Documents; (ii) modify or amend in any respect any provision of the Senior Loan Documents (except as provided in Section 5(j) of this Agreement); and (iii) modify, exchange, surrender, release and otherwise deal with any additional collateral for the Senior Indebtedness. The foregoing provisions of this subsection notwithstanding, the Senior Lender agrees, for the benefit of Subordinate Lender, that if, at the time of commencement of any foreclosure proceedings by the Senior Lender, whether judicial or nonjudicial, the Senior Lender holds any cash, cash equivalents, or deposit accounts, including without limitation any proceeds of its Senior Loan, as security for the obligations secured by the Senior Deed of Trust or held by the Senior Lender, for the benefit of the Senior Lender (collectively, “Cash Collateral”), then unless otherwise required by order of any court or by its