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Consent to Loans. By executing this Master Subordination Agreement: <br />A. Oak Grove agrees that all of the liens, encumbrances, and restrictive covenants, if <br />any, created by the Ramsey County Loan Documents, the Land Sale Loan <br />Documents and the TIP Documents shall be deemed to be "Permitted <br />Encumbrances" under the Oak Grove Loan Documents but subordinate to all <br />liens, rights, and remedies created by the Oak Grove Loan Documents. <br />B. Ramsey County agrees that all of the liens, encumbrances, and restrictive <br />covenants, if any, created by the Oak Grove Loan Documents, the Land Sale Loan <br />Documents and the TIP Documents shall be deemed to be "Permitted <br />Encumbrances" under the Ramsey County Loan Documents. <br />C. The EDA agrees that all of the liens, encumbrances, and restrictive covenants, if <br />any, created by the Oak Grove Loan Documents, the Ramsey County Loan <br />Documents and the TIF Documents shall be deemed to be "Permitted <br />Encumbrances" under the Land Sale Loan Documents. <br />Use of Documents. With respect to the loan documents referred to and described herein, <br />the parties do hereby covenant, warrant, consent, and agree as follows: <br />A. Ramsey County covenants and warrants that (i) the Ramsey County Loan <br />Documents are all of the documents it has entered into regarding the Ramsey <br />County Loan, (ii) there are no other documents relating to the Ramsey County <br />Loan, (iii) it will not enter into any other documents relating to the Ramsey <br />County Loan which would have an adverse impact upon any other party to this <br />Master Subordination Agreement without the prior written consent of such party <br />or parties, and (iv) any document relating to the Ramsey County Loan which may <br />exist and is not listed in the Ramsey County Loan Documents, or may come into <br />existence in the future, shall not have any force or effect until approved and <br />consented to in writing by all of the parties to this Master Subordination <br />Agreement, and upon such written approval such document shall be automatically <br />considered to be included in the Ramsey County Loan Documents, and Ramsey <br />County will execute any and all documents necessary to include such document in <br />the Ramsey County Loan Documents. <br />B. The EDA covenants and warrants 0) the Land Sale Loan Documents are all of the <br />documents it has entered into regarding the Land Sale Loan, (ii) there are no other <br />documents relating to the Land Sale Loan, (iii) it will not enter into any other <br />documents relating to the Land Sale Loan which would have an adverse impact <br />upon any other party to this Master Subordination Agreement without the prior <br />written consent of such party or parties, and (iv) any document relating to the <br />Land Sale Loan which may exist and is not listed in the Land Sale Loan <br />Documents, or may come into existence in the future, shall not have any force or <br />effect against the parties to this Master Subordination Agreement until approved <br />and consented to in writing by all of the parties to this Master Subordination <br />Agreement, and upon such written approval such document shall be automatically <br />considered to be included in the Land Sale Loan Documents, and the EDA will <br />3 <br />4 <br />