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BK 6621 PG 2235-2245(11) DOC#30005136
<br /> This Document eRecorded: 08/02/2019 01:39:22 PM
<br /> o� 04k4OASOP��Y, �-Diys.turp ilariee qqS L��l-�t7- �7�]`iT�I(�'�
<br /> M`i "4 A-"t�A"tn V st 4mer Col rn �l a n�wmne@ CamPunl 1 I V L
<br /> National O mm=lial Servic'n
<br /> 1201 Walnut,So%]DD
<br /> Konsas Ciry,MO 64106q W 1_., _.Loan No.940961407
<br /> File Na:NCS �1�
<br /> THIS SUBORDINATION,NON-MIST ANCE AND ATTORNMENT AGREEMENT
<br /> (this"Agreement")dated as oFthis I J�day of 20ZJ by and among PNC BANK,
<br /> NATIONAL ASSOCIATION(together with its succe ors and assigns,the"Mortgagee"),with an
<br /> address at 10851 Mastin,6th Floor,Overland Park,KS 66210, Hillsborough NC I SGF,LLC
<br /> who is,or will become,the landlord(the"Landlord")under the Lease(defined below),with an address
<br /> at One North Wacker,Suite_4025,Chicago,IL 60606 ,and_Orange County.North Carolina dlbla
<br /> Government of Orange County_(the"Tenant"),with an address at P.O.Box 9181,Hillsborough,NC
<br /> 27278 .
<br /> W TTNE ETH THAT:
<br /> WHEREAS,under the terms of a certain lease agreement dated_July 25.2008,and as amended
<br /> by Lease Modification dated January 12, 2015, delivery of Possession dated January 13,2015, Lease
<br /> Modification dated November 12, 2015, Lease Modification dated September 20, 2018, Lease
<br /> Modification dated March 17,2019 (the"Lease")entered into by Tenant(or Tenant's predecessor-in-
<br /> interest), the demised real property described in the Lease (the "Demised Preaaiise ') was leased to
<br /> Tenant pursuant to the terns and conditions more particularly described therein, constituting all or a
<br /> portion of that certain real property located in Hillsborou h ommons 113 Mao Street Hillsborough
<br /> NC) Orange County, North Carolina , and more particularly described in Exhibit "A" attached
<br /> hereto(the"Property");and
<br /> WHEREAS,pursuant to a loan agreement(the"Loan Agreement")and a promissory note(the
<br /> "Note"), the Mortgagee made or will make a loan to the Landlord. The obligations under the Loan
<br /> Agreement and Nate are or will be secured by a mortgage instrument covering the Property (the
<br /> "Mortgage") from the Landtord to the Mortgagee, and retarded or to be recorded in the real estate
<br /> records of the aforesaid County and State, and are or will be also secured by an assignment of the
<br /> Landlord's interest in all leases of the Property(the"Assignment"),recorded or to be recorded in the real
<br /> estate records of the aforesaid County and State(the Loan Agreement,Note,Mortgage,Assignment and
<br /> any and all other documents executed in connection with the Loan, as the same may be amended,
<br /> renewed,replaced or supplemented from time to time,collectively the"Loan Documents");and
<br /> WHEREAS,the Mortgage provides or shall provide that the Lease shall be subordinate to the
<br /> Mortgage and the Loan Documents and the parties hereto desire to confirm such subordination and to
<br /> establish rights of quiet and peaceful possession for the benefit of the Tenant under the Lease and to
<br /> define the terms,covenants and conditions precedent for such rights.
<br /> NOW,THEREFORE,in consideration of the mutual promises and covenants herein contained
<br /> and intending to be legally bound,the parties hereto agree as follows:
<br /> 1. Subordination of Lease. The Lease and the entire right, title and interest of the Tenant
<br /> thereunder(including without limitation, any purchase options, rights of first refusal or similar rights
<br /> possessed by the Tenant with respect to the Property)are and shall be subject and subordinate in all
<br /> respects to the lien,right,title and terms of the Loan Documents and,in particular,the Mortgage and all
<br /> advances made or to be made thereunder. The Tenant acknowledges and agrees that this Agreement
<br /> submitted electronicall by "First American Title NCS Kansas City"
<br /> in Compliance with worts Carolina statutes governing recordable documents
<br /> and the terms of the submitter agreement with the orange County Register of Deeds.
<br /> submitted electronically by "First American Title NCS Kansas city"
<br /> in compliance with North Carolina statutes governing recordable documents
<br /> and the terms of the submitter agreement with the orange county Register of Deeds.
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