Laserfiche WebLink
�012027�� <br />Property or the Leased Premises, and (b) cure such default. Tenant also agrees to use its best efforts <br />fio give Lender notice of any material casuaity damage to the Leased Premises. <br />8. Assignment of Rents. If Owner defaults in its performance of the terms of the Deed of <br />Trust/Mortgage, Tenant agrees to recognize the Assignment of Rents made by Owner to Lender and <br />shall pay to Lender, as assignee, from the time Lender gives Tenant written notice that Owrner is in <br />default under the terms of the Deed of Trust/Mortgage Deed of Trust/Mortgage, the rents under the <br />Lease, but only those rents that are due or that become due under the terms of the Lease after <br />written notice by Lender. Payments of rents to Lender by Tenant under the assignment of rents upon <br />landlord's default shall continue until the first of the following occurs: <br />a. No further rent is due or payable under the Lease; <br />b. Lender gives Tenant notice that Owner's default under the Deed of Trust/Mortgage has been <br />cured and instructs Tenanfi that the re�ts shall thereafter be payable to landiord; or <br />c. The lien of the Deed of TrusUMortgage has been foreclosed and the purchaser at the <br />foreclosure sale (whether Lender or a Transferee) gives Tenant written notice of the <br />foreclosure sale. On giving wriiten notice, the purchaser shall succeed to landlord's interests <br />under the Lease, after which time the rents and other benefits due landlord under the Lease <br />shall be payable to the purchaser as the owner of the Mortgage Premises <br />9. Tenant's Reliance. Tenant shall be entitled to full credit under the Lease for any rents paid to Lender <br />in accordance with section 8 to the same extent as if such rents were paid directly to landlord: Any <br />dispute between Lender (or Lender's Transferee) and landlord as to the existence of a default by <br />landlord under the terms of the Deed of Trust, the extent or nature of such default, or Lender's right to <br />foreclosure of the Deed of Trust, shall be dealt with and adjusted solely between Lender (or <br />Transferee) and landlord, and Tenant shall not be made a party to any such dispute (unless required <br />by law). <br />10. Lender's Status. Nothing in this Agreement shall be construed to be an agreement by Lender to <br />perform any covenant of the landlord under the Lease unless and until it obtains title to the Real <br />Property or the Leased Premises by power of sale, judicial foreclosure, or deed in lieu.of foreclosure, <br />or obtains possession of the Real Property or the Leased Premises under the terms of the Loan <br />Documents. Lender shall not be deemed a"mortgagor in possession" by virtue of its exercise of its <br />rights to the rents or any other right under this Agreement. <br />11. Cancellation of Lease. Tenant agrees that it will not cancel, terminate, or suRender the Lease, <br />except at the normal expiration of the Lease term or as provided in the Lease, ar enter into any <br />agreemen� amendment, or modification of the Lease except any agreemen�, amendment, or <br />modificatian contemplated by or provided by the terms of the Lease unless Lender gives its prior <br />written consent. <br />12. Limited Waiver of Due on Sale. To the extent the Deed of Trust/Mortgage contains a°due on sale° <br />clause which would give Lender the right to declare Tenant's obligation to Lender due and payable, <br />Lender waives such °due on sale° clause for purposes of the Lease. This waiver is a one time waiver <br />and does not obligate Lender to any other waiver of the "due on sale° clause. <br />13. General Terms. � <br />��t7 <br />��� <br />� <br />