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Boulevard, Mounds View MHFA Dev. #8022 <br />Master Subordination Agreement 4 12/03/2018 <br />(Ver. 11/20/2017) <br />of the documents that the party has entered into regarding the corresponding Loan, (ii) there are <br />no documents relating to its Loan other than the described Loan Documents for its Loan, (iii) it <br />will not enter into any other document for its Loan that would adversely impact any other party <br />or parties to this Agreement without the prior written consent of the party or parties (excluding <br />documentation of amounts having been advanced by a party for the protection of its security interest <br />or lien priority pursuant to the Loan Documents), (iv) any existing document or documents that <br />may come into existence in the future to which a party is or becomes a party or from which a <br />party obtains a benefit that is different from the benefits that the other parties have received or <br />will receive, and that is not listed in the Loan Documents set forth in this Agreement for the <br />Loan, will be of no force or effect until approved and consented to in writing by all of the parties <br />to this Agreement upon which the document has, or will have, an adverse effect (excluding <br />documentation of amounts having been advanced by a party for the protection of its security interest <br />or lien priority pursuant to the Loan Documents), and upon written approval, the documents will <br />automatically be considered to be included in the exhibit to this Agreement setting forth the Loan <br />Documents for the Loan. The other parties to this Agreement will execute any document that <br />may reasonably be requested in order to include the document in the exhibit. <br /> <br />4. Subordination of Loans and Loan Documents. <br /> <br />(a) Loan Priority. Except as specifically provided below, each party agrees to <br />the following priority of the Loan Documents and any and all the liens and encumbrances <br />created by the Loan Documents and subordinates its respective Loan Documents and the <br />liens and encumbrances created by its respective Loan Documents to those Loan <br />Documents and liens and encumbrances created by the Loan Documents that are listed as <br />having a priority over its Loan Documents and the liens and encumbrances created by its <br />respective Loan Documents: <br /> <br />Loan Documents and <br />Liens and Encumbrances <br />Created by the Loan Documents <br />Party to the Loan Documents <br />and Holder of Liens and <br />Encumbrances Created by the <br />Loan Documents <br /> <br />Order of <br />Priority <br />MHFA Bridge Loan Documents MHFA First <br />MHFA FFCC Loan Documents MHFA Second <br />City Loan Documents City Third <br />HRA Loan Documents <br /> <br />HRA <br /> <br />Fourth <br />Fifth <br />After the Permanent Loan Closing, except as specifically provided below, each <br />party agrees to the following priority of the Loan Documents and any and all liens and <br />encumbrances created by the Loan Documents. Each party agrees to subordinate its <br />respective Loan Documents and liens and encumbrances created by its respective Loan <br />Documents to those Loan Documents and liens and encumbrances that are listed as <br />having a priority over its Loan Documents and liens and encumbrances created by its <br />respective Loan Documents: <br /> <br />Loan Documents and Party to the Loan Documents Order of