Exculpation. Subject to the qualifications below, Lender shall not enforce the liability and obligation of Borrower to perform and observe the obligations contained in the Loan Documents by any action or proceeding wherein a money judgment shall be sought against Borrower or its Affiliates, principals or shareholders, except that Lender may bring a foreclosure action, an action for specific performance or any other appropriate action or proceeding to enable Lender to enforce and realize upon its interest and rights under the Loan Documents, or in the Property, the Rents, the Insurance Proceeds, the Condemnation Proceeds or any other collateral given to Lender pursuant to the Loan Documents; provided, however, that, except as specifically provided herein, any judgment in any such action or proceeding shall be enforceable against Borrower only to the extent of Borrower’s interest in the Property, the Rents, the Insurance Proceeds, the Condemnation Proceeds and any other collateral given to Lender, and Lender agrees that it shall not sue for, seek or demand any deficiency judgment against Borrower in any such action or proceeding under or by reason of or under or in connection with any Loan Document. The provisions of this Section 17 shall not, however, # constitute a waiver, release or impairment of any obligation evidenced or secured by any Loan Document; # impair the right of Lender to name Borrower as a party defendant in any action or suit for foreclosure and sale under the Mortgage; # affect the validity or enforceability of any of the Loan Documents or any guaranty or indemnity made in connection with the Loan or any of the rights and remedies of the Lender thereunder; # impair the right of Lender to obtain the appointment of a receiver; # impair the enforcement of the Mortgage; # prohibit Lender from seeking a deficiency judgment against Borrower in order to fully realize the security granted by the Mortgage or to commence any other appropriate action or proceeding in order for Lender to exercise its remedies against all of the Property; or # constitute a waiver of the right of Lender to enforce the liability and obligation of Borrower by money judgment or otherwise, to the extent of any Losses incurred by Lender arising out of or in connection with the following (each, a “Recourse Liability” and collectively, the “Recourse Liabilities”):

Subject to the qualifications below, Lender​ shall not enforce the liability and obligation of Borrower​ to perform and observe the obligations contained in the Note, this Agreement, the Mortgage or the other Loan Documents by any action or proceeding wherein a money judgment or any deficiency judgment or other judgment establishing personal liability shall be sought against Borrower​ or its Affiliates, principalsany direct or shareholders,indirect principal, director, officer, employee, beneficiary, shareholder, partner, member, trustee, agent, manager or Affiliate of ​ or any legal representatives, successors or assigns of any of the foregoing (collectively, the “Exculpated Parties”), except that Lender​ may bring a foreclosure action, an action for specific performance or any other appropriate action or proceeding to enable Lender​ to enforce and realize upon its interest and rights under the Note, this Agreement, the Mortgage and the other Loan Documents, or in the Property, the Rents, the Insurance Proceeds, the Condemnation Proceeds or any other collateral given to Lender​ pursuant to the Loan Documents; provided, however, that, except as specifically provided herein, any judgment in any such action or proceeding shall be enforceable against Borrower​ only to the extent of Borrower’​’s interest in the Property, in the Rents, the Insurance Proceeds, the Condemnation ProceedsRents and in any other collateral given to Lender,​, and Lender​, by accepting the Note, this Agreement, the Mortgage and the other Loan Documents, agrees that it shall not sue for, seek or demand any deficiency or other monetary judgment against Borrower​ or any of the Exculpated Parties in any such action or proceeding underunder, or by reason of or underof, or in connection with anywith, the Note, this Agreement, the Mortgage or the other Loan Document.Documents. The provisions of this [Section 17]Section shall not, however, # constitute a waiver, release or impairment of any obligation evidenced or secured by any of the Loan Document;Documents; # impair the right of Lender​ to name Borrower​ as a party defendant in any action or suit for foreclosure and sale under the Mortgage; # affect the validity or enforceability of any of the Loan Documents or anyindemnity, guaranty or indemnitysimilar instrument (including, without limitation, indemnities set forth herein, in the Guaranty and the Environmental Indemnity) made in connection with the Loan or any of the rights and remedies of ​ thereunder (including, without limitation, ​’s right to enforce said rights and remedies against ​ and/or Guarantor (as applicable) personally and without the Lender thereunder;effect of the exculpatory provisions of this [Section 10.7]); # impair the right of Lender​ to obtain the appointment of a receiver; # impair the enforcement of the Mortgage; # prohibit Lender from seeking a deficiency judgment against Borrower in order to fully realize the security granted by the Mortgage or to commence any other appropriate action or proceeding in order for Lender to exercise its remedies against all of the Property; or # constitute a waiver of the right of Lender to enforce the liability and obligation of Borrower by money judgment or otherwise, to the extent of any Losses incurred by Lender arising out of or in connection with the following (each, a “Recourse Liability” and collectively, the “Recourse Liabilities”):