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6.B. - Page 161 of 177 <br />Affordability Restrictions on Transfer of Property dated as of the date hereof by and between <br />Subordinate Lender and Borrower recorded concurrently herewith in the Official Records. <br />"Default Notice" means: (a) a copy of the written notice from the Senior Lender to the <br />Borrower stating that a Senior Loan Default has occurred under the Senior Loan; or (b) a copy of <br />the written notice from the Subordinate Lender to the Borrower stating that a Subordinate Loan <br />Default has occurred under the Subordinate Loan. Each Default Notice shall specify the default <br />upon which such Default Notice is based. <br />"Person" means an individual, estate, trust, partnership, corporation, limited liability <br />company, limited liability partnership, governmental department or agency or any other entity <br />which has the legal capacity to own property. <br />"Senior Lender" means the Person named as such in the first paragraph on page 1 of this <br />Agreement, its successors and assigns, and any other Person who becomes the legal holder of the <br />Senior Note after the date of this Agreement. <br />"Senior Loan Default" means the occurrence of an "Event of Default" as that term is <br />defined in the Senior Loan Documents. <br />"Senior Loan Documents" means the Senior Note, the Senior Security Instrument, and <br />all other documents evidencing, securing or otherwise executed and delivered in connection with <br />the Senior Loan. <br />"Subordinate Lender" means the Person named as such in the first paragraph on page 1 <br />of this Agreement and any other Person who becomes the legal holder of the Subordinate Note <br />after the date of this Agreement. <br />"Subordinate Loan Default" means a default by the Borrower in performing or <br />observing any of the terms, covenants or conditions in the Subordinate Loan Documents to be <br />performed or observed by it, which continues beyond any applicable period provided in the <br />Subordinate Loan Documents for curing the default. <br />"Subordinate Loan Documents" means the Subordinate Note. the Subordinate Security <br />Instrument, the Subordinate Loan Agreement and all other documents evidencing, securing or <br />otherwise executed and delivered in connection with the Subordinate Loan, but specifically <br />excluding the Covenants. <br />"Subordinate Security Instrument" means the mortgage or deed of trust encumbering <br />the Property as security for the Subordinate Loan, which the Subordinate Lender will cause to be <br />recorded among the applicable land records immediately before this Agreement. <br />2. Permission to Place Mortgage Lien Against Property. <br />The Senior Lender agrees, notwithstanding the prohibition against inferior liens on the <br />Property contained in the Senior Loan Documents and subject to the provisions of this <br />Agreement, to permit the Subordinate Lender to maintain the Subordinate Security Instrument <br />and other recorded Subordinate Loan Documents of record against the Property (which are <br />REV: 06-24-2020 PR <br />ATTY/AGR.2020.105/353 Main Street Apartments, LP & Citibank, N.A. (Page 4 of 18) 190 <br />