Orange County NC Website
11 . Subordination ; Attornment ; Landlord Financing . Tenant agrees that this Lease will either be <br /> subordinate or superior to any mortgage or deed of trust heretofore or hereafter executed by Landlord <br /> covering the Demised Premises, depending on the requirements of such mortgagee or beneficiary of such <br /> deed of trust (collectively, "Mortgagee") . Upon request, Tenant will execute such agreement(s) making <br /> this Lease superior or subordinate as the Mortgagee may request, and will agree to attom to such <br /> Mortgagee provided the Mortgagee agrees not to disturb Tenant ' s possession hereunder so long as Tenant <br /> is in compliance with this Lease and provided that such non- disturbance agreement shall recite that it <br /> shall extend to any successor4n4nterest to Mortgagee including, but not limited to, any purchaser at a <br /> judicial foreclosure or a foreclosure sale under power of sale contained in the deed of trust or mortgage . <br /> Landlord consents to Tenant ' s execution of Landlord ' s Mortgagee ' s subordination, attornment and non- <br /> disturbance agreement, and to be bound by the provisions thereof. Further, Tenant agrees to execute <br /> within 10 days of request therefor, and as often as requested, estoppel certificates setting forth the facts <br /> with respect to date of occupancy, expiration date of this Lease, the amount of rent due and date to which <br /> rent is paid, whether or not it has any defense or offsets to the enforcement of this Lease or knowledge of <br /> any default or breach by Landlord, that this Lease is in full force and effect except as to any modifications <br /> or amendments , copies of which Tenant shall attach to such estoppel certificate , and any other facts <br /> reasonably requested . <br /> If in connection with financing by Landlord of the Property, Mortgagee shall request Tenant to <br /> execute reasonable modifications of this Lease as a condition to such financing, Tenant will not <br /> unreasonably withhold , delay or defer its consent thereto , provided that such modifications do not <br /> increase the monetary obligations of Tenant hereunder, extend or reduce the term of this Lease, or <br /> adversely affect to any substantial extent the leasehold interest hereby created . Subject to the foregoing, <br /> Tenant agrees, not later than 20 days after demand, and without cost, to execute such instruments that <br /> may be required by Landlord ' s Mortgagee or lender . <br /> Tenant agrees to give any Mortgagee which has provided Tenant with an address pursuant to <br /> article 20 hereof notice of and a reasonable opportunity (which in no event shall be less than 30 days after <br /> written notice thereof as delivered to such Mortgagee as provided herein) to cure any Landlord default <br /> hereunder; and Tenant agrees to accept such cure effected by such Mortgagee . No termination of this <br /> Lease by Tenant shall be effective until such notice has been given and the cure period has expired <br /> without the default by Landlord having been cured . Further, Tenant agrees to permit such Mortgagee, <br /> lender or other purchaser at any foreclosure sale, and their respective successors and assigns , on acquiring <br /> Landlord ' s interest in the Demised Premises and the Lease, to become substitute landlord hereunder, with <br /> liability only for such landlord obligations as accrue after Landlord' s interest is so acquired . Tenant <br /> agrees to attorn to any successor landlord in accordance with the provisions hereof. <br /> 12 . Signs . Tenant may not erect, install or display any sign or advertising material upon the Property, <br /> Building exterior, Demised Premises , or the walls thereof, or in any window therein, without the prior <br /> written consent of the Landlord . Landlord shall furnish, install and maintain a building directory at a <br /> convenient location in the lobby listing the name of Tenant and the room number of Tenant ' s entrance <br /> office . At such entrance area Tenant may install a directory of the occupants/sublessees . Landlord must <br /> approve of any sign before it is installed and will not unreasonably delay approval . <br /> 13 . Access to Premises . Landlord shall have the right, either itself or through its authorized agents , <br /> to enter the Demised Premises during regular business hours or, upon reasonable advance notice, at all <br /> reasonable times ( 1) to examine the same , ( 11) to show it to prospective tenants for other spaces in the <br /> Building, (lit to show it to prospective tenants for the Demised Premises if within 180 days of the <br /> Expiration Date (no option to extend having been exercised or available) , (iv) to allow inspection by <br /> Mortgagees , (v) to show it to prospective purchasers of the Building ; and (vi) to make such repairs , <br /> alterations or changes as Landlord deems necessary . Tenant, its agents , employees, invitees , and guests, <br /> OCAC Lease Page 10 <br />