Orange County NC Website
Browse       Search
l~ <br />TRANSFER OF LANDLORD'S INTEREST <br />37. ]n the event of the sale, assignment or transfer by Landlord of its interest in the Premises or in this Lease (other than a collateral <br />assignment to secure a debt of Landlord) to a successor in interest who expressly assumes [he obligations of Landlord under this <br />Lease, Landlord shall thereupon be released and discharged trom all its covenants and obligations under this Lease, except those <br />obligations that have accrued prior to such sale, assignment or transfer, and Tenant agrees to took solely to the successor in interest of <br />Landlord for the performance of those covenants accruing alter such sale, assignment or transfer. Landlord's assignment of this Lease, <br />or of any oral] of its rights in this Lease, shall not affect Tenant's obligations hereunder, and Tenant shall attorn and look to the <br />assignee as Landlord, provided Tenant has First received written notice of the assignment of Landlord's interest. <br />SPECLALSTIPULATIONS <br />38.. Any special stipulations are set forth in the attached Exhibit A insofar as said Special Stipulations <br />conflict with any of the foregoing provisions, said Special Stipulations shall control. <br />MEMORANDUM OF LEASE <br />39. Upon request by either Landlord or Tenant, the parties hereto shall execute a short form lease (Memorandum of Lease) in <br />recordable form, setting forth such provisions hereof (other titan the amount of Base Monthly Ren[ and other sums due) as either party <br />may wish to incorporate, The cost of recording such memorandum of lease shall be borne by the party requesting execution of same. <br />THIS DOCUMENT IS A LEGAL DOCUMENT. EXECUTION OF THIS DOCUMENT HAS LEGAL CONSEQLJENCES THAT <br />COULD BE ENFORCEABLE IN A COURT OF L.AW. THE NORTH CAROLINA ASSOCIATION OF REALTORS® MAKES NO <br />REPRESENTATIONS CONCERNING THE LEGAL SUFFICIENCY, LEGAL EFFECT OR TAX CONSBQUENCES OF THIS <br />DOCUMENT OR THE TRANSACTION TO WHICH 17 RELATES AND RECOMMENDS THAT YOU CONSULT YOUR <br />ATTORNEY. <br />IN WITNESS WHEREOF, the parties hereto have 6creunto set their hands and seals, the date and year first nbove written. <br />LANDLORD: <br />Individual <br />(SEAL) <br />(SEAL.) Ry: <br />Business Entity <br />_ __JCBH P(opertie~C_, <br />(Name of Firrn) <br />Jlm R, Gafes <br />(SEAL) <br />fide: _ -Member-Manager _ ._ <br />TENANT: <br />Individual Business Entity <br />(SEAL.) _ _ -Goan _ of Oran _ ._. _ <br />(Name of Firm) <br />(SEAL.) By: (SEAL) <br />Barry Jacobs <br />Iitle: _ Chair arson <br />Page 8 of 8 <br />STANDARD FORM 590-T <br />© 7/2002 <br />msto<n,p<oa~coaWFormulaCai"ro~ssmn~~n 800.33&1017 <br />