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vi•nli~rc, or proprtc•Cor~:hip in wl~ich th~• Lancl~urd lriti a dirc•ct ~r Indirect
firi~nci:~l in~~~rr~:~; sucl~ inst iti~tianr~l lenclcr is h~rc•in:~it~~r r~Ccrred to as
~ and "ln~:lilution.~l L~•ndcr". in thc cvcnt an lnstitutional L~•ndc:r acquires
le~al titlc Co thc~ premisc;s rl~rouf;h foreclosurc proceedin~;s, '!'e~nant agrees that
this S~•ction sl~all noC bc bindinf; ~~pon suct~ Institutional Lender as Co ariy
otlier rcal estatc owned hy such Institutional Lc~ndcr (anJ only so lonb as it is
owned by such Institutional L~nder) wititin Che on~ mile radius mentioned in
this Saction, if such other real estate is owned by such Institutional Lender
at the time it acquires legal title to the premises. It is further pr~vided
that this Section shall not apply to any rcal estate within said one mile
( radius acquired at any time by such Institutional Lender through £oreclosure
proceedings.
Landlord further covenants and agrees that if Landlord shall violate
~ or fail to comply with the tenns of this Section, after Tenant has given
i Landlord written notice of said violation or non-compliance and 10 days' time '
to cure said violation or non-compliance, Tenant may at its option cancel this ;
! lease; but notwithstanding the foregoing, Tenant may proceed in law or in
~ equity, or both, to secure any remedy and/or damages fram Landlord for any ,
violation or non-canpliance with the terms of this Section.
In the event Tenant ceases to operate its business at the premises,
with the intent to abandon same, and said premises remain closed for business
in excess of one (1) year, then in such an event the pravisions of this
Section shall cease to be operative.
6. It is understood and agreed that by a lease of even date herewith .
~ executed by the parties hereto (which lease is hereinabove and hereinafter
, referred to as the "Actual I.ease") the Land2ord let and leased to the Tenant
~ the above described premises for a term of twenty (20) years, conmmencing with
! the first day of the month when the first full calendar month's rent becames
~ due and payable in aceordance with the provisions of said Actual Lease and =
terminating twenty (20) years a£ter the coc~anencement date and conCaining the -
fonr (4) five year oprions above mentioned, and that the rental, covenants,
~ provisions and conditions of the within instrument shall be the rental,
covenants, provisions and conditions set forttt in said "ActuaZ I.ease", to which
~ renta2, covenants, provisions and conditions reference is hereby made and the ;
same are hereby incorporated as Chough fully rewritten herein. K
7. It is agreed that in the event said Actual Lease is in the future
amended or supplemented by written instrument executed by the parties in
f interest [hereto, or shall be assigned or termfnated in any manner permitted =
~ under the terms of said Actual Lease, then without any further act or instru-
ment whatsoever, the within instrument shall likewise and to the same effect
be amended, assigned or terminated, as the case may be.
8. It is understood and agreed that the within instrument is executed
j in simpli£ied forni for the convenience of the parties and for the purpose of
~ recording the same, and that this instr~ent shall not have the effect of in
~ any way modifying, amending, supplementing or abridging said Actual Lease or
any of its provisions as the same are now or may hereafter be in force and
effect.
Signed and acknowledged LORD; ST. C E PLAZA
in the p ence of; ~
. ~
B ~
~ lelvin Se
$Y
Bo h witness as to FS an ~4 ~e Fred A. eshar , IndT~dst 1~ and as
. BY
A bert L. Dangler
/ v
t~~(,G t~/~t~ ~Q',c,~ ~S'
~ e~s as ~ ~y,v~ ic}~olas rlanos
(Si~n res continued on pabc 4)
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~ooK219 PacE2~19
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