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Section 7.13. Subordination and No Limitation on Mortgagee or Financing Party. Any and <br /> all rights of the City and obligations and liabilities of the Borrower under this Agreement and/or <br /> relating to the Loan shall be expressly subject and subordinate to any mortgage loans or other <br /> indebtedness incurred by the Borrower with respect to the acquisition, construction, reconstruction <br /> and/or rehabilitation of the Project. Notwithstanding anything in this Agreement to the contrary, (a) <br /> no provision of this Agreement shall restrict or otherwise limit(i)any foreclosure by or other transfer <br /> of title to any mortgagee or financing party of the Project, or (ii) any transfer of ownership of any <br /> interest in the Borrower to such mortgagee or financing party or any constituent owner of the <br /> Borrower, and (b) in the event of any such foreclosure by or other transfer of title to any mortgagee <br /> or financing party,as permitted in clause(a)(i)above,any such mortgagee or financing party(or any <br /> party taking by,through or under any such mortgagee or financing party)shall take title to the Project <br /> free and clear of any responsibility,obligation and/or liability under this Agreement and/or the Loan <br /> and without liability for the responsibilities, obligations and/or liabilities of the Borrower under this <br /> Agreement and/or with respect to the Loan. <br /> [Signature Page Follows] <br /> 14 <br />