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AG 2009 03 16
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AG 2009 03 16
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Last modified
2/5/2010 11:35:16 AM
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11/27/2017 11:25:04 AM
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Meeting Minutes
Doc Type
Agenda
Meeting Minutes - Date
2/5/2010
Board
Board of Commissioners
Meeting Type
Regular
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1 <br /> <br />' ARTICLE 11 <br />MORTGAGE SUBORDINATION <br />' 11.1 Mortgage Subordination - - Attornment. Upon written request or notice by Landlord, <br />Tenant agrees to subordinate its rights under this Lease to any lien or mortgage and to any and all advances <br />to be made thereunder, and to the interest thereof, provided the mortgagee shall agree in writing not to <br />' disturb Tenant's interest in the Premises created by this Lease in the event of foreclosure if Tenant is not in <br />default. Tenant also agrees that any such mortgagee may elect to have this Lease remain prior to the lien of <br />its mortgage, and in the event of such election and upon notification by such mortgagee to Tenant to that <br />effect, this Lease shall be deemed prior in lien to said mortgage, whether this Lease is date prior to or <br />' subsequent to the date of said mortgage. Tenant agrees that, upon the request of Landlord or any mortgagee <br />named in a mortgage, Tenant shall execute and deliver an instrument for such purposes. Upon receipt of the <br />non-disturbance agreement referred to in the first sentence of this Section 11.1, Tenant shall, in the event of <br />' the sale or assignment of Landlord's interest in the Premises, or in the event of foreclosure under any <br />mortgage covering the Premises, attorn to and recognize such purchaser or mortgagee as landlord under this <br />Lease. <br />ARTICLE 12 <br />MISCELLANEOUS PROVISIONS <br />' 12.1 Accord and Satisfaction. No payment by Tenant or receipt by Landlord of a lesser amount <br />than the rental herein stipulated shall be deemed to be other than on account of the earliest stipulated rent <br />nor shall any endorsement or statement on any check or any letter accompanying any check or payment as <br />rent shall be deemed an accord and satisfaction, and Landlord may accept such check or payment without <br />prejudice to Landlord's right to recover the balance of such rent to pursue any other remedy provided for in <br />this Lease or available at law or in equity. <br />1 <br /> <br />J <br /> <br /> <br /> <br /> <br /> <br /> <br />12.2 Estoppel Certificates. At any time and from time to time, Tenant agrees, upon request in <br />writing from Landlord, to execute, acknowledge and deliver to Landlord, or its successors or assigns or to <br />Landlord's mortgagee or financial institution, a statement in writing in such form and substance satisfactory <br />to Landlord certifying to all or any part of the following information as Landlord shall reasonably request: <br />(i) that this Lease constitutes the entire agreement between Landlord and Tenant and is unmodified and in <br />full force and effect (or if there have been modifications, that the same is in full force and effect as modified <br />and stating the modifications); (ii) the dates to which the Base Rent, Additional Rent and other charges <br />hereunder have been paid; (iii) that Tenant has accepted possession, that the Tenn has commenced, that <br />Tenant is occupying the Premises and that Tenant knows of no default under the Lease by Landlord and that <br />there are no defaults by Tenant; and (iv) the actual commencement date of the Lease and the expiration date <br />of the Lease. In the event that the Tenant fails to provide such statement within fifteen (15) days after <br />Landlord's written request therefor, Tenant does hereby make, constitute and irrevocably appoint Landlord <br />as its attorney-in-fact and in its name, place and stead to do so. <br />12.3 Waiver - -Divisible Contract. No waiver of any condition or legal right or remedy shall <br />be implied by the failure of Landlord to declare a forfeiture, or for any other reason, and no waiver of any <br />condition or covenant shall be valid unless it shall be in writing signed by Landlord, nor shall the waiver of <br />a breach of any condition be claimed or pleaded to excuse a future breach of the same condition or <br />covenant. References in this Lease to any specific right or remedy shall not preclude Landlord from <br />exercising any other right or from having any other remedy or from maintaining any action to which it may <br />be otherwise entitled either at law or in equity; and for the purpose of any suit by Landlord brought pursuant <br />13 <br />F-6 <br />Attachment number 1 <br />Page 190 of 286 <br />
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