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reserve or deposit made with the FHA Lender or any other party as required by HUD in connection with
the FHA Loan Documents; or (c) FHA Lender Funds which have been deposited into the Collateral Fund
by or at the direction of the FHA Lender (collectively, “Non-Project Sources”). No claims or actions shall
be made (or payable) under the Loan Agreement against the Project, the FHA Lender, the proceeds of the
FHA Note, or the assets of the Borrower, except from Non-Project Sources. In addition, the rights and
obligations of the parties under the Loan Agreement and all other documents evidencing, implementing, or
securing the Loan Agreement (collectively, the “Subordinate Bond Documents”) are and shall be
subordinated in all respects to the rights and obligations of the parties to and under the FHA Loan
Documents. In the event of any conflict between the provisions of (i) the Loan Agreement or the
Subordinate Bond Documents and (ii) 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 described under this caption shall control over any inconsistent provisions in the Loan
Agreement or the Subordinate Bond Documents. The Loan Agreement shall not be amended or modified
without the prior written consent of HUD.
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