HomeMy WebLinkAbout1368 Pa~e 15
AFT?CLE XXIV,
TI7LE EXAN!Ir?kTI~?~:
Lessor sh~J.l furnish, at its exrerAse, tc r_Pssee for exa,nin~ti~n
a cemple te Abs tract of '~itle certif ie~ frcrm title ir the ~overr~n~ent,
prepared ar.d issued by a financially respor.sible title a~.str~.ct cc~mrany,
showing suc}i title in said prenises in Lessor as wi11 authorize it to
tr,$ke artd en~er into this lease, and tc collect ana retain all rents gnd
paymer.ts herun~er, free and clear of all c~aims and demands ~rade by any
person or parties, whatsoever. Ir. the ever~t i,esscr• shall ne~lect, r~-
fuse or be unable t~ furrish such Ahstract of Tit.le within s ixty (60)
days after the date her~:of, Lessee sr,all have the option and privile~e
of car.cellin~ and te~min~tin~ this lease, unor: natice to Les~~r, at ar~y
time after said s ixty-c~ay period; or Lessee may at its ortion e~rnloy
an attorney of its ow~ cr~ice tc make and com~ile an abstract ~f titl~
to the c~emise~ pr•emises, or cencuct a title search of the put~lic recrrds
of tre courity in which the c~emised nremises are situate for the p3arrose
of o~~te~inin~ a rPC~rd of ar.y cGnveyances and m~tters nerts.inin~ ta or
af f ecting the ti tle of Less or to s aid gremis es ; and Less ur a~rees in
s~~ch sver. t to re i~r~burs e L.es ~ ee f or any expens es inc+~ rrEd bv i t i n the
com~~ilatior. of such abstract of title or search of sucr, nublic reccrds o
If at the tir~e of such nc~ice Lessee sha11 hav~: entered inta nossessicn,
Lessee sr~al.l be liable only f
~r rents and otr.er char~es, if an~, arr.r}~~c?
~ ancl earnec3 to the d~te of suc~h tern in~.tion and surr•en~er of rnsse~.s i ~no
If, upnn the recorc~ i.r.~ of this Iease, Lessee des ires t~ ce' 1 unon
L~essor sc to c~o, T,esser shall have s~ir3 Abstract of Title extende~ and
recerti.fied to Lesse~, at Le,scr's exnense, showinp said lease as havin~
been recc~rded, and deI_iver• the same to Lessee. for examin~.tion,
If, ~efore tI~,P recr~rd~.n~? ~f this lease in the m~nner- ~nc? as
~rc~vide.d by Iaw, the detr~ised nremises sha11 be st~bjecter3 tG ar.y lier.,
whet~:er by way of ~"ortga.ge, Deed of Trust, Securitv Deed, ar other~ri~e,
Lessor a~rees, as a candition of this lease, to secure a subordin~tion
of such lien or 1ie.ns a.nd to cause such subordinatior. A~reement to be
made a provis ion cr nar#: of ~y g~~r. ~ort~a~e, Deed of Tr•~.s t, Security
DePd, or other~ ins trument.
This lease sr,all not be bindir~ urar Lessee unt.il. si~*ned on
its behalf by its Preszaent or a Vice Presidento All praposals, ne~o-
tiatians, ana re~res~ntation~ w~th reference to the matters c~ver~~
this le~.~ e f.c°~ ~.i~ar~e,~ in thi;, ins tr~urent, ar.d no amenc~ment or madi f i~
cat~ on hereof sha~l be va1 ir~ ~anless e~ridena~d by a writin~ si~red hy
s~icl~ off icPr.
cRkr ~Z1t,~ .