HomeMy WebLinkAbout0956 TERMS OE TNE AGREEMENT
1. The Lease is in full force a~d effect in accordance
with the terms.
2. Neither the Landlor~ nor tE~e Tenant will, without
the prior written consent of the holder of the ~lortgage: (i)
modify the Lease or any extensions or re~ewals thereof in
such a way as to reduce the rent, accelerate rent payments, `
shorten the original term or change any renewal aption; (ii)
terminate the Lease except as provided by its terms: (iii)
tender or accept a surrender of the Lease or a prepayanent in ;
~
excess of one month of any rent required by the Lease; or
(iv) subordinate or per~nit subordination of the Lease to
any lien subordinate to the Mortgage. Any such purpvrted
action,without such consent shall be void as against the
holder of the Mortgage.
3. Any notice tequired to be given to the Landlord by
the Tenant shall be given also to the holder oE the Hortgage ~
provided such holder (other than the `1ort~ar~ee) shall have
notified the Tenant in writing of its name and address and ~
any right of the Tenant dependent upon notice shall take
effect only after notice so given. Performance or cocnmence-
mznt to cure a default for which notice has been given '
within thirty (30) days of date of notice by the holder
of the ~fortgage in accordance with the conditians of the
Lease shall satisfy such conditions of the Lease requiring
performance by the Landlord.
4. Al~~ays provided Tenant shall not be in default
under tbe Lease, tk~e right of possession of Tenant to the
Zeased premises and Tenant's rights arising out of the Lease
shall not be afEected or distvrbed by the Mortgagee,
or any other hoider of the Mortgage, in the exercise of any
of their rights under the `1ort;age, or the note s~cured
thereby; nor shal~ Tenant be named as a party defendant in
any foreclosure of the lien of the Mortgage not in any
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