Orange County NC Website
EXHIBIT F <br /> LANDLORD'S RIGHT TO MORTGAGE AND SELL <br /> Estoppel Gcrtificate. Within ten (10) days after request therefor <br /> 5�• Lanc!Jo-c1, or in tlIr: event [ at upon any sale, assignment or hypothecation <br /> ? end/or the land thereunder by Landlord, an offset statement <br /> shall i��' i yr.�.::'n►J from 'Tenant; Tenant agrees to deliver, in recordable farm, a <br /> certi.`icatc to -iny proposed mortgagee or purchaser, or to Landlord certifying <br /> (if suc'n be t-e case) that this Lease is in full force and effect and that there <br /> +�a no defenses or offsets thereto, or stating those cl•eimed by Tenant. <br /> Subordination and Attornment. This Lease is and shall be <br /> subject and s.:'.�nr❑inate zit a Mmes to tie lien of any mortgages in any amount <br /> or, a:r:au^is c�~J/or all or any part of the land or buildings comprising Carr [•till <br /> •.;t�,�;�� and o •ill ground or underlying leases which exist or 1T.3y hereafter be <br /> exccU112 �::`ec:ing such land and buildings, or either thereof, of Which the <br /> nrer-:ses CTe part, or on or against Landlord's interest or estate therein, or <br /> any r.c�:~t of cr interest in any of the foregoing-, or on or against any ground or <br /> undcr`yina Ir Esc (and in all cases including all extensions, renewals, amendments <br /> �nd s::apir~-e-.ts to any ground or underlying lease or mortgage), without the <br /> necessit.1 o` tnc execution and delivery of any further instruments on the part <br /> c: Tena ffectuate such subordination. Tenant covenants and agrees to <br /> c;,:pC�:,s and dcliver upon demand such further instruments evidencing such <br /> su5c- i.n•�Li�1n of this Lease to any such ground or underlying lease and to the <br /> lien of ;!n•f mortgage as may be required by the Landlord. Notwithstanding <br /> anvuhing t -rJ nabove contained, in the event the holder of any such mortgage <br /> or the Landlord under any such ground or underlying lease shall at any time <br /> elect to this Lease constitute d prior or superior lien to its mortgage or <br /> lease, then ::n d in such event upon any such mortgag eholder or Landlord notify- <br /> ing Tenant to that effect, this Lease shall be deemed prior and superior in lien <br /> to such manage or lease, as the case may be. irrespective of whether this <br /> Lease is da-trid prior to or subsequent to the date of such mortgage or lease. <br /> If Landlord enters into one or more concurrent or successive mort- <br /> gages or ground or underlying leases and Tenant is advised in writing of the <br /> nam,! a,nd ar.'r'.:ess of the mortgagee or Landlord under such mortgage or gound <br /> or un o'a rl yi r g lease, as the case may be, then this' Lease shall not be terminated <br /> or c•inceiled on account of any default by the Landlord in the performance of <br /> ;;,lop of the tr:rms, covenants or conditions hereof vn its part contained, until <br /> Tenant sha).l have given written notice of such default to such mortgagee or <br /> Landlord, spccifying the default, and such mortgagee or Landlord shall have <br /> the right fc; Thirty (30) days from the date of its receipt of such notice (and <br /> such reasonable additional time as is required to effect the cure with due dili- <br /> gence) to correct such default. , <br /> Ten•int shall, in the event any proceedings are brought for the <br /> foreclosure of or in the event of exercise of the power of sale under any mort- <br /> made L <br /> gace •.• the Landlord covering the premises, attorn to the purchaser upon <br /> Ln;. such foi eclosure or sale and recognize such purchaser as the Landlord <br /> U.V1Ce&" this I case <br /> Attorney-In-Fact. The Tenant` upon request of any party in <br /> interest, s`��,3ll execute promptJy such instruments or. certificates to carry out <br /> the intent of this section as shall be requested by the Landlord. The Tenant <br /> hereb;r irrc•.•c-ably appoints the Landlord as Attorney-in-Fact for the Tenant <br /> ith full po.-;er and authority to execute and deliver in the name of the Tenant <br /> any sucl•- instruments or certificates. If fifteen (15) days after the date of a . <br /> 0r.•ri Lien recL e•s t by Landlord to t xecute such instruments, the Tenant sha:i not <br /> have executed the same, the Landlord may, at its option, cancel this Lease <br /> ;Without incurring any liability on account thereof, and the term hereby granted <br /> is ex,pressl}p limited accordingly, <br /> Transfer of Landlord's Interest. Landlord shall have the right <br /> to cvn e;:, trans r.r or assign, by sac or otherwise, all or any part of its <br /> i n tcYelt in o;.is Leese or Carr mill village, including the Premises, at any time <br /> ti=+,r to time and to any person, subject to the terms and conditions of <br /> s L`=•�Se• All covenants and 'obligations of Landlord under this LOAse shall <br /> c"-ase upon t~n execution of such conveyance, transfer or assignment, but such <br /> co`•'e;-�:�~ts �� oblioaLions shall run with the land and shalt be binding upon the <br /> suhs�?vent r•.•:ner(.,) thereof or of this Leese during the periods of their owner- <br /> .J. i>J L•I��r�JI . <br />