|
11
<br /> SUBORDINATION;ATTORNMENT;ESTOPPEL
<br /> 26. (a)This Lease and all of Tenant's rights hereunder are and shall be subject and subordinate to all currently existing and future
<br /> mortgages affecting the Premises. Within ten (10) days after the receipt of a written request from Landlord or any Landlord
<br /> mortgagee, Tenant shall confirm such subordination by executing and delivering Landlord and Landlord's mortgagee a recordable
<br /> subordination agreement and such other documents as may be reasonably requested, in form and content satisfactory to Landlord and
<br /> Landlord's mortgagee. Provided, however, as a condition to Tenant's obligation to execute and deliver any such subordination
<br /> agreement, the applicable mortgagee must agree that mortgagee shall not unilaterally, materially alter this Lease and this Lease shall
<br /> not be divested by foreclosure or other default proceedings thereunder so long as Tenant shall not be in default under the terms of this
<br /> Lease beyond any applicable cure period set forth herein. Tenant acknowledges that any Landlord mortgagee has the right to
<br /> subordinate at any time its interest in this Lease and the leasehold estate to that of Tenant,without Tenant's consent.
<br /> (b) If Landlord sells,transfers, or conveys its interest in the Premises or this Lease, or if the same is foreclosed judicially or
<br /> nonjudicially, or otherwise acquired, by a Landlord mortgagee, upon the request of Landlord or Landlord's successor, Tenant shall
<br /> attorn to said successor,provided said successor accepts the Premises subject to this Lease. Tenant shall,upon the request of Landlord
<br /> or Landlord's successor, execute an attornment agreement confirming the same, in form and substance acceptable to Landlord or
<br /> Landlord's successor and Landlord shall thereupon be released and discharged from all its covenants and obligations under this Lease,
<br /> except those obligations that have accrued prior to such sale,transfer or conveyance;and Tenant agrees to look solely to the successor
<br /> in interest of Landlord for the performance of those covenants accruing after such sale,transfer or conveyance. Such agreement shall
<br /> provide, among other things,that said successor shall not be bound by(a)any prepayment of more than one(1)month's rental(except
<br /> the Security Deposit) or(b) any material amendment of this Lease made after the later of the Lease Commencement Date or the date
<br /> that such successor's lien or interest first arose,unless said successor shall have consented to such amendment.
<br /> (c)Within ten(10) days after request from Landlord, Tenant shall execute and deliver to Landlord an estoppel certificate (to
<br /> be prepared by Landlord and delivered to Tenant) with appropriate facts then in existence concerning the status of this Lease and
<br /> Tenant's occupancy, and with any exceptions thereto noted in writing by Tenant. Tenant's failure to execute and deliver the Estoppel
<br /> Certificate within said ten(10)day period shall be deemed to make conclusive and binding upon Tenant in favor of Landlord and any
<br /> potential mortgagee or transferee the statements contained in such estoppel certificate without exception.
<br /> ABANDONMENT
<br /> 27. Tenant shall not abandon the Premises at any time during the Lease term.If Tenant shall abandon the Premises or be dispossessed
<br /> by process of law, any personal property belonging to Tenant and left on the Premises, at the option of Landlord, shall be deemed
<br /> abandoned, and available to Landlord to use or sell to offset any rent due or any expenses incurred by removing same and restoring
<br /> the Premises.
<br /> NOTICES
<br /> 28. All notices required or permitted under this Lease shall be in writing and shall be personally delivered or sent by U.S. certified
<br /> mail, return receipt requested, postage prepaid. Notices to Tenant shall be delivered or sent to the address shown at the beginning of
<br /> this Lease, except that upon Tenant taking possession of the Premises,then the Premises shall be Tenant's address for such purposes.
<br /> Notices to Landlord shall be delivered or sent to the address shown at the beginning of this Lease and notices to Agent,if any, shall be
<br /> delivered or sent to the address set forth in Section 3 hereof. All notices shall be effective upon delivery. Any party may change its
<br /> notice address upon written notice to the other parties,given as provided herein.
<br /> BROKERS
<br /> 29. Except as expressly provided herein, Tenant and Landlord agree to indemnify and hold each other harmless from any and all
<br /> claims of brokers,consultants or real estate agents by,through or under the indemnifying party for fees or commissions arising out of
<br /> the lease of the Property to Tenant.
<br /> Tenant and Landlord represent and warrant to each other that: (i)except as to the brokers designated below("Brokers"),they have not
<br /> employed nor engaged any brokers,consultants or real estate agents to be involved in this transaction and(ii)that the compensation of
<br /> the Brokers is established by and shall be governed by separate agreements entered into as amongst the Brokers,the Tenant and/or the
<br /> Landlord.
<br /> ("Listing Agency"),
<br /> ("Listing Agent"-License# )
<br /> Acting as: ❑Landlord's Agent; ❑Dual Agent
<br /> and (Leasing Agency"),
<br /> ("Leasing Agent"-License# )
<br /> Acting as: ❑Tenant's Agent; ❑Landlord's(Sub)Agent; ❑Dual Agent
<br /> Page 10 of 12
<br /> STANDARD FORM 592-T
<br /> Revised 7/2024
<br /> Tenant Initials Landlord Initials ©7/2024
<br /> Produced with Lone Wolf Transactions(zipForm Edition)717 N Harwood St,Suite 2200,Dallas,TX 75201 www.lwolf.com HREG
<br />
|