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of the parties to and under the FHA Loan Documents. In the event of any conflict between the provisions
of (A) this Indenture or the Subordinate Bond Documents and (B) the provisions of the FHA Loan
Documents or the Program Obligations, the provisions of the FHA Loan Documents or the Program
Obligations shall control. The provisions of this Section 13.14 shall control over any inconsistent
provisions in this Indenture or the Subordinate Bond Documents.
(b) Any subsequent amendment to this Indenture or the Loan Agreement is subject to prior
written approval of HUD (so long as the Project is subject to a mortgage insured or held by HUD). No
amendment to this Indenture or the Loan Agreement shall conflict with the provisions of the Program
Obligations.
(c) The Bonds are not a debt of the United States of America, HUD, FHA, GNMA or any other
agency or instrumentality of the federal government, and are not guaranteed by the full faith and credit of
the United States or any agency or instrumentality thereof.
(d) There is no pledge hereunder or under the Loan Agreement of the gross revenues or any of
the assets of the Project.
(e) Neither a default under this Indenture nor under the Loan Agreement shall constitute a
default under the FHA Loan Documents related to the Project.
(f) Nothing contained herein or in the Loan Agreement shall inhibit or impair the right of FHA
to require or agree to any amendment, change or modification of any FHA Loan Documents related to the
Project for the purpose of curing any ambiguity, or of curing, correcting or supplementing any defective or
inconsistent provision contained therein, or in regard to matters or questions arising under said FHA Loan
Documents so long as any such amendment, change or modification shall not adversely affect the payment
terms of the Bonds.
(g) Neither the Issuer, the Trustee, nor any of the Holders has or shall be entitled to assert any
claim against the Project, any reserves or deposits required by HUD in connection with the Project, or the
rents or deposits or other income of the Project.
(h) Proceeds from any condemnation award or from the payment of a claim under any hazard
insurance policy relating to the Project will not be payable to the Trustee, but will be payable in accordance
with the FHA Loan Documents.
(i) Nothing contained herein or in the Loan Agreement shall require the FHA Lender to take
any actions to preserve the tax exemption of the interest on the low-income housing tax credits for the
Project (the “Tax Credits”) or the Bonds, or prohibits the FHA Lender from taking any action that might
jeopardize the tax exemption of the Bonds or the availability of the Tax Credits, except in strict accordance
with the National Housing Act, applicable mortgage insurance regulations, the FHA Loan Documents, or,
if applicable, Section 8 of the U.S. Housing Act of 1937 and the regulations thereunder.
(j) HUD requires the following to be inserted into this Indenture:
“In the event of an assignment or conveyance of the mortgage to the Commissioner, as such individual is
described in the paragraph below, subsequent to the issuance of the bonds, all money remaining in all funds
and accounts other than the rebate fund, and any other funds remaining under the trust indenture after
payment or provision for payment of debt service on the bonds and the fees and expenses of the credit
enhancer, issuer, trustee, and other such parties unrelated to the mortgagor (other than funds originally
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