Subordination of AHIF Loan. (a) The County Board hereby agrees to subordinate the lien and operation of its AHIF Deed of Trust to the lien of the VHDA Deed of Trust (CD 210-Conv) by executing the Subordination Agreement substantially in the form attached hereto as Exhibit D. The Subordination Agreement shall set forth the respective rights and obligations of VHDA and the County Board. The Subordination Agreement shall be recorded in the land records of Arlington County, Virginia.
(b) Borrower must obtain County Board approval prior to obtaining any additional financing which would be senior in priority to the lien and operation of its AHIF Deed of Trust, at which time the County Board may require revisions to the occupancy and affordability covenants set forth in Article IV of this Agreement and the Restrictive Covenants.
Subordination of AHIF Loan. (a) The County Board hereby agrees to subordinate the lien and operation of its AHIF Deed of Trust to the lien of the deed of trust related to the Senior Debt by executing the Subordination Agreement, substantially in the form attached hereto as Exhibit E. The Subordination Agreement shall be recorded in the land records of Arlington County, Virginia.
(b) Borrower must obtain County Board approval prior to obtaining any additional financing which would be senior in priority to the lien and operation of its AHIF Deed of Trust, at which time the County Board may require revisions to the occupancy and affordability covenants set forth in Article IV of this Agreement and the Restrictive Covenants.
Subordination of AHIF Loan. (a) The County Board hereby agrees to subordinate the lien and operation of its Amended and Restated AHIF Deed of Trust to the lien of the deed of trust securing the Senior Lender Loan by executing the Subordination Agreement, substantially in the form attached hereto as Exhibit G. The Subordination Agreement shall be recorded in the Land Records of Arlington County, Virginia.
(b) Borrower must obtain County Board approval prior to obtaining any additional financing which would be senior in priority to the lien and operation of its Amended and Restated AHIF Deed of Trust, at which time the County Board may require revisions to the
Subordination of AHIF Loan. (a) The County Board hereby agrees to subordinate the lien and operation of its AHIF Deed of Trust to the lien of the deed of trust related to the Senior Debt by executing the Subordination Agreement, which shall be recorded in the Arlington County Land Records.
(b) Borrower must obtain County Board approval prior to obtaining any additional financing which would be senior in priority to the lien and operation of its AHIF Deed of Trust, at which time the County Board may require revisions to the occupancy and affordability covenants set forth in Article IV of this Agreement and the AHIF Restrictive Covenants.
Subordination of AHIF Loan. (a) The County Board hereby agrees to subordinate the lien and operation of its Amended and Restated County Deed of Trust to the lien of the deed of trust securing the Senior Lender Loan pursuant to the Subordination Agreement by and among the County Board, the Senior Lender and the borrower.
(b) Borrower must obtain County Board approval prior to obtaining any additional financing which would be senior in priority to the lien and operation of its Amended and Restated County Deed of Trust, at which time the County Board may require revisions to the occupancy and affordability covenants set forth in Article IV of this Agreement and the Amended and Restated County Restrictive Covenants.
