Any Private Lenders Signed the Detroit Land Bank's Subordination Agreement?

[Mitch Messer]

We're working to originate a private loan on a SFH in Detroit, MI. The investor buyer is purchasing the property from the Detroit Land Bank Authority (DLBA).

As part of the closing, DLBA is requiring that the lender execute the attached Subordination Agreement.

I don't love everything I'm reading, but I'm curious to see if others have gone through this.

How did you assess the risk to the lender in this situation?

Grateful in advance for any help this fine community can offer!