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7.2 Riahts of Parties as Active Lenders. (a) Notwithstanding any other provision of this Deed of Trust to the contrary and except as otherwise provided in this paragraph, the Agency shall be the Active Lender and as such shall be entitled and empowered to enforce the provisions of this Deed of trust and the Note unilaterally without notice to or the consent of MBIA, and for so long as the Agency shall be the Active Lender, MBIA shall not be entitled to enforce the provisions of this Deed of Trust and the Note without the prior written consent of the Agency (so long as the Agency has any interest secured thereby). (b) MBIA shall become the Active Lender only at such time as (i) any Event of Default occurs pursuant to this Deed of Trust and, as a consequence of such default, MBIA duly makes a payment pursuant to its policy of bond insurance (the "Policy ") for the bonds (the "Bonds ") issued to finance the loan to the Borrower, (ii) MBIA shall have made full payment under the Policy in such amounts so that sufficient funds have been paid to the co- trustee for the Bonds (the "Co- Trustee ") or the holders of the Bonds such that the Bonds are defeased as set forth in the indenture (the "Indenture ") securing the Bonds, (iii) the Co- Trustee shall have made a charge upon the bond reserve account (the "Bond Reserve Account ") pursuant to the Indenture and the amount so charged shall not have been credited to the Bond Reserve Account within six (6) months of the date of such charge, or (iv) the funds on deposit in the Bond Reserve Account are insufficient to meet the next payment of principal and interest due on the Bonds. At such time as MBIA so becomes the Active Lender, MBIA shall be entitled to enforce this Deed of Trust and the Note unilaterally without notice to or the consent of the Agency and the rights of the Agency hereunder shall be null and void ah initio (except with respect to the rights described in the remainder of this subparagraph, which rights shall survive); provided, however, that nothing herein shall affect the ability of the Agency to enforce all its rights and remedies pursuant to the Regulatory Agreement; and provided, however, that upon the consent of MBIA the Agency may become the Active Lender again and as such shall have all of its rights hereunder. (c) Notice of any change in identify or power of the Active Lender shall be given promptly to Borrower and Trustee by the Active Lender, provided, however, that failure to give such notice shall not affect the Borrower's and /or City's obligation to pay or perform as provided in the Secured Obligations. (d) The Active Lender shall, upon request, provide the other Lender with copies of any documents, financial statements or other information with respect to the Borrower and /or the City which the Lenders are entitled to receive from the CHFA 52P.RIDGE.VIEW.IST 01/06/90.Q02374 -17-