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HomeMy WebLinkAbout1155 ' WNEREAS, the parties hereto have agreed to enter into an Agreement ~i ;!providing for the unconditional subordination of the Lease, non-disturbance ,~of the Tenant, and attornment of the Tenant to the Fund, all upon the terms :and conditions herein set forth. NOW, THEREFORE, for good, lawful and valuaDle consideration, :~including the mutual undertakings of the parties hereto, the receipt and ;sufficiency of which is hereby acknowledged by both of the parties hereto, '~it is covenanted, warranted and agreed as follows: , 1. The Lease and the rights of Tenant thereunder are hereby ~~subordinated to the Mortgage Deed in the principal amount of $1,3Q0,000.00, ~ +~plus interest thereon, covering the subject premises, and to any extensions, modifications, renewals, replacements, consolidations and substitutions thereof. , 2. In the event the Fund shall claim a default under the Mortgage :;Deed, or in the event the Fund succeeds to the ownership of the subject ~;premises, Tenant will attorn to and accept the Fund, or any assignee or .successor in interest of the Fund, for the balance of the term then remaining ; . ~ ~under the Lease, without offset, setoff or deduction whatsoever. i f ' 3. The Fund will not disturb the possession of Tenant under the. ~ ~ ~ ~Lease upon a default under the Mortgage Deed and the Fund will accept the "attornment of Tenant thereafter, provided that Tenant is not in defauZt ~ under the Lease, after written notice has been given to Tenant if required ~ ,;by said Lease and Tenant has had time to cure said default as provided for in said Lease. ~ ~ ~ 4. ~enant will not terminate, cancel, surrender, reduce the rent ~ : ~ ;or modify in any way, either orally or in writing, the Lease, and any of the r ;aforesaid acts, if done without the written consent of the Fund, shall be •r. s: ~ `~null and void and of no force and effect. Notwithstanding the foregoing, 5. x~ , ~ ~ ~.the Tenant shall have the right to cancel and terminate the Lease (i) by ~ ~ reason of any right provided for in the Lease or (ii) by reason of any right ~ t arising under law. ~ ~ OR ~p BOOK ~JO PAGE - 2 - ~ " , ~ ~s? 3 . _