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Agenda - 10-04-1993 - VIII-C
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Agenda - 10-04-1993 - VIII-C
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2/6/2017 4:34:13 PM
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BOCC
Date
10/4/1993
Meeting Type
Regular Meeting
Document Type
Agenda
Agenda Item
VIII-C
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12 <br /> indebtedness due it by Tenant, including the worth � f <br /> payment of the excess, if any, of the amount of all rent af�Joier <br /> payments reserved in this Lease for the remainder of the state <br /> term over the then reasonable rental value of the Premises for the <br /> remainder of the states term, all of which amounts shall be <br /> immediately due and payable from Tenant to Landlord. In <br /> determining the reasonable rental value of the Premises for the <br /> remainder of the stated term, the value of the actual rental <br /> obligations of the Tenant, if any, to whom the Landlord has relet <br /> the Premises shall be considered the then reasonable rental value . <br /> 22 . LANDLORD'S RIGHT TO MORTGAGE AND SELL. Within ten (10) <br /> days after request therefor by Landlord, or in the event that upon <br /> any sale, assignment, or hypothecation of the Premises and/or the <br /> land thereunder by Landlord, an estoppel certificate or similar <br /> statement shall be required from Tenant, Tenant agrees to deliver, <br /> in recordable form, a certificate to any proposed mortgagee or <br /> purchaser, or to Landlord certifying (if such be the case) that <br /> this Lease is in full force and effect and that there are no <br /> defenses or offsets thereto, or stating those claimed by Tenant . <br /> This Lease is and shall be subject and subordinate at all <br /> times to the lien of any mortgages in any amount or amounts on all <br /> or any part of the land or buildings as shown on Exhibit "B" and to <br /> all ground or underlying leases which exist or may hereafter be <br /> executed affecting such land and buildings, or either thereof, of <br /> which the Premises are a part, or on or against Landlord' s interest <br /> or estate therein, or any part of or interest in any of the <br /> foregoing, or on or against any ground or underlying lease (and in <br /> all cases including all extensions, renewals, amendments and <br /> supplements to any ground or underlying lease or mortgage) , without <br /> the necessity of the execution and delivery of any further <br /> instruments on the part of Tenant to effectuate such subordination. <br /> Tenant covenants and agrees to execute and deliver upon demand such <br /> further instruments evidencing such subordination of this Lease to <br /> any such ground or underlying lease and to the lien of any such <br /> mortgage as may be required by the Landlord. Notwithstanding <br /> anything hereinabove contained, in the event the holder of any such <br /> mortgage or the Landlord under any such ground or underlying lease <br /> shall at any time elect to have this Lease constitute a prior or <br /> superior claim to its mortgage or lease, then and in such event <br /> upon any such mortgage holder or Landlord notifying Tenant to that <br /> effect, this Lease shall be deemed prior and superior in lien to <br /> such mortgage or lease, as the case may be, irrespective of whether <br /> this Lease is dated prior to or subsequent to the date of such <br /> mortgage or lease . <br /> If Landlord enters into one or more concurrent or successive <br /> mortgages or ground or underlying leases and Tenant is advised in <br /> writing of the name and address of the mortgagee or Landlord under <br /> such mortgage or ground or underlying lease, as the case may be, <br /> then this Lease shall not be terminated or canceled on account of <br />
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