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201202782
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Last modified
6/5/2012 4:40:13 PM
Creation date
4/10/2012 8:51:02 AM
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DEEDS
Inst Number
201202782
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201�027�� <br />d. ff the interests of landlord under the Lease are transferred by foreclosure of the Deed of <br />Trust, deed in lieu of foreclosure, or otherwise, the Transferee shall have the right to coflect <br />any due, but unpaid, obligations owing under the Lease, including any accrued, but unpaid <br />rent. <br />6. Lender as landlord. If Lender shaii succeed to the interest of landlord under the Lease, Lender shall <br />be bound to Tenant under all the terms, covenants and conditions of the Lease, and Tenant shall, <br />from the date of Lender's succession to the landlord's interest under the Lease, have the same <br />remedies against Lender for breach of the Lease that Tenant would have had under the Lease <br />against landlord; provided, however, that despite anything to the contrary in this Agreement or the <br />Lease, Lender or any Transferee, as successor to the landlord's interest, shall not be: <br />a. liable for any act or omission of any previous landlord (including Owner), provided that the <br />foregoing shall not be construed to limit Tenant's right to possession of the Leased Premises <br />for the entire term of the Lease, as extended, on the terms and conditions of the Lease; <br />b. subject to any offsets or defenses that Tenant might have had against any previous landlord <br />(including Owner); <br />c. liable for any security deposit not received by Lender, or bound by any rent or additional rent <br />that Tenant may have paid for more than one month in advance to any previous landlord <br />(including Owner); <br />d. bound by an amendment or modification of the Lease made without Lender's wrritten consent, <br />which consent shall not be unreasonably withheld or delayed, so long as Tenant pays to <br />Lender a reasonable amount to defer the costs, including attomey's fees, incurred in <br />response to a request for such consent; <br />e. bound by any covenant to undertake or complete any construction of the Real Property or the <br />Leased Premises, or any portion of them. <br />Lender shall be liable under the Lease only during such time as it is the owner of the Real Property <br />and the landlord under the Lease. Upon Lender's transfer of the Real Property, or such portion of the <br />Real Property as encompasses the Leased Premises, Lender shall be released and exonerated from <br />any liability under the Lease for any acts or omissions occurring after such transfer and Tenant <br />agrees to look solely to the transferee of Lender for perFormance of the obligations of the landlord <br />under the Lease. Tenant further agrees that it wrill, within 60 days of no�ce of the transfer of Lender's <br />interest in the Real Property, provide Lender with a list of all claims that exist against Lender as a <br />result of its status as landlord. Failure to specify a claim in a timely manner shall forever bar tenant <br />from bringing such claim against Lender. <br />7. Notice of Default, Right To Cure. Tenant agrees concurrently to give Lender a copy of any written <br />notice of any default given by Tenant to landlord under the Lease. Tenant agrees that, before it <br />exercises any of its rights or remedies under the Lease, Lender shall have the right, but not the <br />obligafion, to cure the default within the same time given landlord in the lease to cure the default, plus <br />an additional thirty (30) days, or if no time period is given to landlord in the Lease to cure, then within <br />a reasonable time. If any such asserted default constitutes a legal basis for Tenant to cancel its <br />obligations under the Lease, Tenant agrees that the Lease shall not be canceled or terminated until <br />Lender shall have had a reasonable period of time within which to (a) obtain possession of the Real <br />a�� <br />���� � <br />� � <br />
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