2018-367 Housing - Community Home Trust Grant Agreement

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DocuSign Envelope ID: 5C622784- 3DD9- 4F2B- 8D53- D3D3E1 D35BD4 2U 1 bWb26000 1 b�3bUU RB6613 141 51158 4. APPROVAL OF AMENDMENTS: Any amendments to this Lease will be subject to the written approval of Permitted Mortgagee, which approval will not be unreasonably withheld or delayed. The passage of thirty (30) days after submittal to Permitted Mortgagee of a proposed amendment without approval or disapproval by Permitted Mortgagee will be deemed approval thereof. 5. NEW LEASE TO PERMITTED MORTGAGEE: Upon written request of the Permitted Mortgagee made within sixty (60) days of the termination of this Lease or upon its rejection or disaffirmance under bankruptcy law or other law affecting creditors' rights, Lessor will enter into a new lease of the Leased Premises with the Permitted Mortgagee (or with any party designated by the Permitted Mortgagee, subject to Lessor's approval, which approval will not be unreasonably withheld). The lease term will be for the remainder of the term of the Lease, effective as of the date of the termination, rejection, or disaffirmance, and upon all the terms and provisions contained in the Lease. The written request will be accompanied by a copy of the new lease, duly executed and acknowledged by the Permitted Mortgagee or the party designated by the Permitted Mortgagee to be the Lessee and the Permitted Mortgagee will have cured all defaults under the Lease which can be cured by the payment of money. Any new lease made pursuant to this Section will have the same priority with respect to other interests in the Leased Premises as this Lease. The provisions of this Section will survive the termination, rejection, or disaffirmance of the Lease and will continue in full effect thereafter to the same extent as if this Section were an independent contract made by Lessor, Lessee and the Permitted Mortgagee. 6. NO TERMINATION DURING FORECLOSURE: The Lessor will have no right to terminate this Lease once Permitted Mortgagee commences foreclosure in accordance with the provisions hereof and is diligently pursuing the same. 7. PROVISIONS SUBJECT TO FORECLOSURE: In the event of foreclosure sale by a Permitted Mortgagee or the delivery of a deed to a Permitted Mortgagee in lieu of foreclosure in accordance with the provisions hereof, at the election of the Permitted Mortgagee, the provisions of Sections 10.1 through 10.13 will be deleted and thereupon will be of no further force or effect as to only so much of the Security so foreclosed upon or transferred. 8. NOTICE: Whenever in this Article notice is to be given to Permitted Mortgagee, the notice will be given in the manner set forth in Section 14.2 at the address which has been given by the Permitted Mortgagee to Lessor. 9. COSTS OF PERMITTED MORTGAGE: Lessee will pay to Lessor at Lessor's option, as additional rent hereunder, all fees, costs and expenses, including, without limitation, reasonable attorneys' fees, incurred by Lessor in connection with any Permitted Mortgage.