Agenda - 11-19-1985 - Laserfiche WebLink

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• 03C• ExhiniT F . • • LANDLORD'S RIGHT TO MORTGAGE AND SELL, rstoppel Certificate. Within ten (10) days after request therefor :Py I ancilord, :r in the event that upon any sale, assignment or hypothecation of the Pre'-'1'3 and/or the land thereunder by Landlord, an offset statement hail be re '.: -'d from Tenant; Tenant agrees to deliver, in recordable form, a certificate to any proposed mortgagee or pgrchaser, or to Landlord certifying (if sz:ch be the case) that this Lease is in full force and effect and that there arc no defeneee or offsets thereto, or stating those claimed by Tenant. • Subordination and Attornment. This Lease is and shall be subject and subordinate at all times to the lien of any mortgages in any amount or amounts a- /or all or any part of the land or buildings comprising Carr Mill _ And :n ell ground or underlying leases which exist or may hereafter be executed affecting such land and buildings, or either thereof, of which the Prnm:ses are a part, or on or against Landlord's interest or estate therein, or any part of or interest in any of the foregoing, or on or against any ground or • underling loose (and in all cases including all extensions, renewals, amendments and seppinments to any ground or underlying lease or mortgage), without the necessity of the execution and delivery of any further instruments on the part of Tenant tS effectuate such subordination. Tenant covenants and agrees to exec-..::e end deliver upon demand such further instruments evidencing such subordinatisn of this Lease to any such ground or underlying lease and to the in ef any ouch mortgage as may be required by the Landlord. Notwithstanding he-einabove contained,•in the event the holder of any such mortgage or the -Landlerd under any such ground or underlying lease shall at any time elect to have this Lease constitute a' prior or superior lien to its mortgage or lease, then and in such event upon any such mortgageholder or Landlord notify- ing Tenant to that effect, this Lease shall be deemed prior and superior in lien to such morznage or lease, as the case may be, irrespective of whether this Lease is dated prior to or subsequent to the date of such mortgage or lease. If Landlord enters into one or more concurrent or successive mort- gages or ground or underlying leases and Tenant is advised in writing of the name and address of the mortgagee or Landlord under such mortgage or gound - or underleing lease, as the case may be, then this Lease shall not be terminated or cancelled on account of any default by the Landlord in the performance of en of the terme, covenants or conditions hereof on its part contained, until Tenant shall have given written notice of such default to such mortgagee or Landlord, specifying the default, and such mortgagee or Landlord shall have the right for thirty (30) days from the date of its receipt of such notice (and such reasonable additional time as is required to effect the cure with due dili- gence) to correct such default. Tenant shall, in the event any proceedings are brought for the foreclosure ef or in the event of exercise of the power of sale under any mart- . gage made by the Landlord covering the premises, anoint to the purchaser upon any such fereclosure or sale and recognize such purchaser as the Landlord under this Leese. • Attorney-In-Fact. The Tenant, upon request of any party in nterest, shell execute promptly such instruments or certificates to carry out the intent of this section as shall be requested by tile Landlord. The Tenant hereby irrevccebly appoints the Landlord as Attorney-in-Fact for the Tenant ull ps*,-er and authority to execute and deliver in the name of the Tenant ainy SuC• instruments or certificates. If fifteen (15) days after the date of a, .htrittee. rag-Jest by Landlord to execute such instruments, the Tenant shaii not ae.e executed the same, the Landlord may, at its option, cancel this Lease netneut incurring any liability on account thereof, and the term Hereby granted is expressly :imited accordingly. . 7,73rtster 7rtterest. Landlord shall have Ihe vlight . ass5-5177-7.77,77-77-ZTherwise. ail sr snv including the Premises, at =riv time lo and -_a any person, subfec: to :he :erns and •.:onciit!;:ns af 4,e.e.se. •All covenants and obligations of Landlord under this Lease shall .•._ or of SJC.. ._-n-ezvance. tra.nsfer cr assignment. but such shah run wiz:: ;.he :and ano shall Ze zincing upon the • z`rz*.:'•:r.'. or te!is Lease -dur!no :he 2eripds of :.heir owner- :n::