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(i) liable for any act or omission of any prior
landlord (including Landlord)t or ~
(ii) subject to any offsets or defenses which Tenant
might have against any prior landlord (including Landlord)
except ttiose whici~ arose out of such lanc3loxd's default under
the Lease and accrued_after Tenant has complied with the
provisions of paragraph 7 herec~ff or
(iii) bound by any rent or aclditional rent which
Tenant might have paid for more than the then current month to
any prior landlord (including Landlord)~ or
(iv) bound by any agreement or modification of the
Lease made without Lender's consent~ or
(v) bound under ~he Lease after the effective date
of a conveyance of title by Lender to a third.perso~ who agrees
to be bound thereunderj except that Lender shall not be
released from any liability which has accrued on or before said
date.
3. The Lease is hereby made subject and subordinate to
the lien of the~Mortgage and to all the terms, conditions and
provisions thereof, to all advances made or to be made
thereunder, and to any renewals, extensions, modifications or
replacements thereof, as though the Mortgage haa been executed
and recorded prior to the execution of the Lease.
4. The foregoing provisions shall be sel~f-operative and
effective without the execution of any further instrument on
~ the part of either party hereto.
5. Tenant acknowledges that Landlord has or will execute
and deliver to Lender an Assignment of Rentals conveyinq the
~ rentals under the Lease as additional security for the
~ Mortgage. Tenant hereby consents to such Assignment. Lender
agrees to provide Tenant with a copy of said Assignment.
6. Tenant agrees that it wfll not, without the prior
consent of Lender^(a) modify the Lease in such a way as to
reduce the rent, accelerate rent payments, shorten the original
, term, or change any renewal option; (b) terminate the Lease~
except as provided by its terms= (c) tender or accept a
~ surrender of the Lease or make a prepayment in excess of one .
` month of any rent thereunder; or (d) subordinate or permit
~ subordination of the Lease to any lien subordinate to the
Mortgage. Any such purported action without such consent shall ~
~ be void ag aqainst Lender
; *which shall no2 6e unreasonab~y withheld or delayed
~ 7. Tenant agrees that it'will give notice to Lender of
` •any defaults of Landlord under the Lease which would entitle
~ th~ Tenant to terminate the Lease or abate the rental payable
thereunder, specifying in reasonable detail the nature of the
~ default by Landlord, and thereupon the Lender shall have the
~ right, but not the obligation, to cure such default. Tenant
agrees that it will ~not terminate the Lease or abate, withhold
or offset the rental payable thereunder by reason of auch
default until thirty (30) days after ~uch notice is given to
~ Lender, within which Lender may cure such default: If
circumstances are such that sa~d default cannot reasonably be
, cured within said 30-day period, Tenant wili extend the period
- - of notice for -a--r~asonable fime so long as the Lender is
diligently prosecuting the wotk necessary to cure the sam~;
providea, however, Tenant shall not be required to give notice
to Lender of Landlard's defaults in effecting emergency repairs
or to extend to it an opportunity to perform emergency repairs
which the Tenant is permitted to make under the provisions of
the Lease. .
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BooK 570 PA~E 959
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