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2008 S Purchasing & Hillsborough Commons and Orange County
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2008 S Purchasing & Hillsborough Commons and Orange County
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Last modified
4/19/2011 11:22:54 AM
Creation date
2/11/2019 3:19:16 PM
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BOCC
Date
6/3/2008
Meeting Type
Regular Meeting
Document Type
Agreement
Agenda Item
4t
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Landlord, for any such rents and other charges so paid by sub-lessee to <br />Landlord. <br />(Z) Attornment. In the event of a breach by County in the performance <br />of its obligations under this Lease, and a resulting termination of Lease <br />by Landlord, Landlord, at its option and without any obligation to do so, <br />may require any sub-lessee to attorn (i.e., agree to become tenant to a <br />new owner or landlord of the same property) to Landlord, in which event <br />Landlord shall undertake the obligations of the sub-lessor under such <br />sublease from the time of the exercise of said option to the expiration of <br />such sublease; provided, however, Landlord shall not be liable for any <br />prepaid rents or security deposit paid by such sub-lessee to such sub- <br />lessor or for any prior defaults or breaches of such sub-lessor under <br />such sublease. <br />(3) Consent of Landlord Required. DELETED. <br />(4) Conditions of Sublease. Each sublease shall provide that (i) it is <br />subject and subordinate to this Lease; (ii) Landlord may enforce the <br />provisions of the sublease, including collection of rent; (iii) if this Lease <br />is terminated for any reason, Landlord may, at its option, either (a) <br />terminate the sublease, or (b) takeover all of the rights and interest of <br />County, as sub-lessor, by the sub-lessee shall simultaneously be given <br />to Landlord. If Landlord elects to take over the rights and interest of <br />County, Landlord shall not (1) be liable for any previous act or omission <br />of County under the sublease (2) be subject to any defense or offset in <br />favor of the sub-lessee against County, or (3) be bound by any <br />modification to the sublease made without Landlord's written consent or <br />by any prepayment by sub-lessee of rent or other monies. <br />29. SUBORDINATION, ATTORNMIENT. AND FINANCING. (a) This Lease and <br />County's tenancy hereunder shall be subject and subordinate at all times to the <br />lien of any mortgage or deed of trust (including any renewals, modifications, <br />extensions, or future advances thereof), or other method of financing or <br />refinancing, now or hereafter placed upon the interest of Landlord and the <br />Demised Premises. Landlord shall have the continuing obligation to update <br />Exhibit G if additional mortgages, deeds of trust, or other financing documents <br />encumber the Shopping Center. County agrees to execute and deliver such <br />instruments as may be desired by Landlord or by any mortgagee. County shall <br />execute within thirty (30) days from receipt of Landlord's request such <br />instruments (including. but not limited to a Memorandum of Lease and/or a <br />Subordination, Non-Disturbance and Attornment Agreement in recordable form) <br />which may be required by Landlord's mortgagee or trustee to evidence such <br />subordination. <br />(b) County shall, without charge, attorn to such mortgagee or purchaser as its <br />Landlord under this Lease. <br />(c) In the event the construction lender, land lessor, or the permanent lender of <br />the Shopping center requires, as a condition to financing, modifications to this <br />Lease, provided such modifications are reasonable, do not adversely affect. <br />County, do not materially alter the approved working plans and do not increase <br />20 <br />County of Orange, in North Carolina -Hillsborough Commons 07/02/08 <br />ORD C~Z~U~' <br />L~~~~~~ Tl <br />
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