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<br />7 <br />Subordination Agreement <br />4917-4736-5298 <br />14. No Waiver. No failure or delay on the part of any party hereto in exercising any right, <br />power or remedy hereunder shall operate as a waiver thereof, nor shall any single or partial exercise of any <br />such right, power or remedy preclude any other or further exercise thereof or the exercise of any other right, <br />power or remedy hereunder. <br />15. Equitable Remedies. Each party hereto acknowledges that, to the extent that no adequate <br />remedy at law exists for breach of its obligations under this Agreement, in the event any party fails to <br />comply with its obligations hereunder, the aggrieved party shall have the right to obtain specific <br />performance of the obligations of such defaulting party, injunctive relief, or such other equitable relief as <br />may be available, other than consequential or punitive damages. <br />16. Notices. Any notice to be given under this Agreement shall be in writing and shall be <br />deemed to be given when received by the party to whom it is addressed. Notwithstanding the foregoing, if <br />any such notice is not received or cannot be delivered due to a change in the address of the receiving party <br />of which notice was not previously given to the sending party or due to a refusal to accept by the receiving <br />party, such notice shall be deemed received on the date delivery is attempted. Notices shall be in writing <br />and sent by certified U.S. mail, hand delivery, or by special courier (in each case, return receipt requested). <br />Notices to any other party hereto shall be sent to the parties at the following addresses or such other address <br />or addresses as shall be designated by such party in a written notice to the other parties: <br />If to Senior Lender: <br />U.S. Bank Trust Company, National Association <br />111 E Fillmore Avenue <br />Saint Paul, Minnesota 55107 <br />Attention: Christine Robinette <br />and <br />Allianz Life Insurance Company of North America <br />c/o R4 Capital Funding LLC <br />780 Third Avenue, 16th Floor <br />New York, New York 10017 <br />Attention: Tara Nussbaum <br /> <br />With copies to: <br />R4 Servicer LLC <br />155 Federal Street, Suite 1400 <br />Boston, Massachusetts 02110 <br />Attention: Greg Doble and Shannon Chase <br /> <br />and <br /> <br />Kutak Rock LLP <br />Two Logan Square <br />100 N. 18th Street, Suite 1920 <br />Philadelphia, Pennsylvania 19103 <br />Attention: Andrew P. Schmutz <br /> <br />If to Subordinate Lender: