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77060962v1 <br /> <br /> <br /> 19 <br /> <br />Section 25. Recording and Filing. Prior to any advance of the proceeds of the Note <br />under Section 2 of the Disbursing Agreement, the Borrower shall cause this Regulatory Agreement <br />and all amendments and supplements hereto and thereto to be recorded and filed in the real <br />property records of the County, the State, and in such other places as the Governmental Lender or <br />the Fiscal Agent may reasonably request. The Borrower shall pay all fees and charges incurred in <br />connection with any such recording. <br />Section 26. Third-Party Beneficiary. The parties to this Regulatory Agreement <br />recognize and agree that the terms of this Regulatory Agreement and the enforcement of those <br />terms are essential to the security of the Funding Lender and are entered into for the benefit of <br />various parties, including the Funding Lender. The Funding Lender shall accordingly have <br />contractual rights in this Regulatory Agreement and shall be entitled (but not obligated) to enforce, <br />separately or jointly with the Governmental Lender and/or the Fiscal Agent, or to cause the <br />Governmental Lender or the Fiscal Agent to enforce, the terms of this Regulatory Agreement. In <br />addition, the Funding Lender is intended to be and shall be a third-party beneficiary of this <br />Regulatory Agreement. <br /> <br />(The remainder of this page is intentionally left blank.) <br />