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of the Borrower or any Related Party other than the Pledged Revenues. In furtherance thereof <br /> but subordinate to the rights of the Senior Lender in the same, the Issuer and the Trustee shall be <br /> entitled to look solely and exclusively to the Pledged Revenues for the payment and other <br /> obligations of Borrower hereunder, under the Note and all evidences of indebtedness secured <br /> hereby, and shall not seek a personal judgment against any member, officer, director, member or <br /> stockholder of the Borrower, provided that nothing herein shall relieve any such Related Party <br /> from liability for any of the following: <br /> (a) rent collected for more than one month in advance and <br /> received by a Related Party and not applied to the payment <br /> of costs and expenses of the operation of the Project; <br /> (b) misappropriation or misapplication by a Related Party of <br /> insurance or eminent domain proceeds; <br /> (c) fraud or material misrepresentation by a Related Party <br /> against the Issuer or the Holder; <br /> (d) conversion by a Related Party of all or a material portion of <br /> the Project; or <br /> (e) gross negligence, willful misconduct or intentional torts <br /> relating to the Project or the revenues therefrom. <br /> Section 8.11. Conflict With HUD-Insured Loan and HUD Regulations; Supremacy of <br /> Senior Lender Mortgage and HUD Regulatory Agreement. <br /> Notwithstanding anything in this Agreement to the contrary: <br /> (a) The provisions hereof (other than any provisions relating to the limited <br /> liability, or indemnification, of the Issuer) are subordinate and subject to the National <br /> Housing Act, HUD and GNMA regulations, related administrative requirements, and the <br /> Senior Lender Mortgage, Mortgage Note, the HUD Regulatory Agreement and other loan <br /> documents executed in connection with the HUD-Insured Loan (as defined below) (the <br /> "HUD Loan Documents"). In the event of any conflict between the provisions of this <br /> Agreement (other than provisions relating to the limited liability, or indemnification, of <br /> the Issuer) and the provisions of any applicable HUD regulations, related administrative <br /> requirements, or the HUD Loan Documents, the HUD regulations, related administrative <br /> requirements or HUD Loan Documents shall control. Any ambiguity or inconsistency <br /> will be resolved in favor of, and pursuant to, the HUD mortgage insurance requirements, <br /> HUD and GNMA statutory, regulatory and administrative requirements and the terms of <br /> the HUD Loan Documents. <br /> (b) Enforcement of this Agreement will not result in any claim against the <br /> Project, the undisbursed proceeds of the Senior Lender's loan (the"HUD-Insured Loan"), <br /> any reserve or deposit required by HUD in connection with the HUD-Insured Loan or the <br /> 7 <br />