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3 <br />(i) "Project Sources" means the Mortgaged Property (as defined in the <br />Senior Security Instrument), any proceeds of the Senior loan, and any reserve or deposit <br />made with Senior Lender or any other party as required by HUD in connection with the <br />Senior loan. <br />(j) "Senior Indebtedness" means all present and future indebtedness, <br />obligations, and liabilities of Borrower to Senior Lender under or in connection with the <br />Senior loan or Senior Loan Documents. <br />(k) "Senior Lender" means the Entity named as such in the first paragraph <br />on page 1 of this Agreement, its successors and assigns. <br />(1) "Senior Loan Documents" means the Senior Note, the Senior Security <br />Instrument, and the Regulatory Agreement between Borrower and HUD, as such <br />documents may be amended from time to time and all other documents at any time <br />evidencing, securing, guaranteeing, or otherwise delivered in connection with the Senior <br />Indebtedness. <br />(m) "Senior Security Instrument Default" means a "Monetary Event of <br />Default" or a "Covenant Event of Default" as defined in the Senior Security Instrument. <br />(n) "Subordinate Indebtedness" means all present and future indebtedness, <br />obligations, and liabilities of Borrower to Subordinate Lender under or in connection <br />with the Subordinate Loan or the Subordinate Loan Documents. <br />(o) "Subordinate Lender" means the Entity named as such in the first <br />paragraph on page 1 of this Agreement. <br />(p) "Subordinate Loan Documents" means the Subordinate Note, the <br />Subordinate Mortgage, and all other documents at any time evidencing, securing, <br />guaranteeing, or otherwise delivered in connection with the Subordinate Indebtedness, as <br />identified in Exhibit B. <br />(q) "Subordinate Loan Enforcement Action" means the acceleration of all <br />or any part of the Subordinate Indebtedness, the advertising of or commencement of any <br />foreclosure or trustee's sale proceedings, the exercise of any power of sale, the <br />acceptance of a deed or assignment in lieu of foreclosure or sale, the collecting of rents, <br />the obtaining of or seeking of the appointment of a receiver, the seeking of default <br />interest, the taking of possession or control of any of the Mortgaged Property, the <br />commencement of any suit or other legal, administrative, or arbitration proceeding based <br />upon the Subordinate Note or any other of the Subordinate Loan Documents, the <br />exercising of any banker's lien or rights of set-off or recoupment, or the taking of any <br />other enforcement action against Borrower, any other party liable for any of the <br />Subordinate Indebtedness or obligated under any of the Subordinate Loan Documents, or <br />the Mortgaged Property. <br />(r) "Subordinate Mortgage Default" means any act, failure to act, event, <br />conditions, or occurrence which allows (but for any contrary provision of this <br />US.113590860.01 <br />