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Priority and Subordination Agreement 25 Teanaway Court <br />Party, and that no other Party nor its officers, employees, or counsel are <br />responsible for the validity, accuracy, completeness, or performance of any <br />statements, representations, warranties, covenants or undertakings of <br />Partnership, Sponsor or any guarantor, whether or not such Party or its officers, <br />employees, and counsel have knowledge of the terms or content thereof or any <br />other information relating thereto. <br />o. This Agreement may be executed in counterparts, each of which shall be deemed <br />an original but all of which together shall constitute one and the same instrument. <br />If this Agreement is executed with blanks for dates or recording numbers of any <br />documents referred to herein, any Lender, or any escrow agent or title insurance <br />Partnership acting on the instructions of any Lender, is authorized to insert the <br />dates and/or recording numbers, as applicable. <br />p. Notwithstanding any provision of the Subordinate Loan Documents or of the <br />Restrictive Covenants to the contrary, any right of the Subordinate Lender under <br />the Subordinate Loan Documents or under the Restrictive Covenants to remove, <br />or cause to be removed, the Partnership’s managing agent in respect of the <br />Property or to require changes to any management plan or management <br />agreement in respect of the Property previously approved by the Subordinate <br />Lender in each instance, shall be subject to the prior written consent of the Senior <br />Lender. <br />q. Reserved. <br />r. Police Powers. Nothing in this Agreement is intended, nor shall it be construed, <br />to in any way to limit the exercise by the State of Washington of its <br />governmental powers (including but not limited to police, regulatory and taxing <br />powers), or its powers as a public utility, with respect to the Partnership, <br />Sponsor, Citibank, any other person, or the Property, nor to affect any liens, <br />rights or interests in the Property arising pursuant to those powers or the exercise <br />thereof. <br />s. Statutory Notice. ORAL AGREEMENTS OR ORAL COMMITMENTS TO <br />LEND MONEY, EXTEND CREDIT OR FOREBEAR FROM ENFORCING <br />REPAYMENT OF A DEBT ARE NOT ENFORCEABLE UNDER <br />WASHINGTON LAW. <br /> <br />[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]