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201300076
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Last modified
12/31/2013 10:46:35 AM
Creation date
1/4/2013 2:38:03 PM
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DEEDS
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201300076
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201300076 <br /> sums which would be due under the Lease as of the date of notice (but for the termination of the Lease) <br /> and a description of any and all events of default under the Lease. Within twenty (20) days from its <br /> receipt of the notice of termination, Administrative Agent shall have the option to obtain a new lease for <br /> the Premises (the "New Lease") by providing Lessor with written notice of its desire to exercise such <br /> option and curing all defaults Upon Lessor's receipt of such notice, Lessor shall enter into a New Lease <br /> for the Premises with Administrative Agent for the benefit of the Lenders, which shall commence as of the <br /> date of the termination of the Lease, and shall be effective for the remainder of the term of the Lease, and <br /> contain all of the terms and conditions that were set forth in the Lease including, but not limited to, those <br /> pertaining to rental payments and options to renew the term of the Lease. <br /> 7 The obligations set forth in the Security Instrument shall be secured by, among other <br /> things, all of Lessee's now owned or hereafter acquired machinery, equipment, furniture, trade fixtures <br /> and inventory (as such terms are defined in the Uniform Commercial Code) together with all accessions <br /> to, products of and proceeds thereof(collectively the "Collateral"). Any landlord's lien, right of distraint or <br /> levy, security interest or other interest which the Lessor may now or hereafter acquire in any of the <br /> Collateral for unpaid rent or otherwise, whether by virtue of a lease, landlord-tenant relationship, statute <br /> or otherwise shall be and is hereby subordinated in all respects to any security interests in the Collateral <br /> now or hereafter held by Administrative Agent for the benefit of the Lenders. <br /> 8. Lessor agrees that the "Other Lease" provisions of the Lease shall be inapplicable to <br /> Administrative Agent in terms of obligations to cure and cross defaults in the event that Administrative <br /> Agent shall seek to cure defaults or become the Tenant under such Lease. <br /> 9. In the event Lessee does not exercise any option to renew contained in the Lease on or <br /> before the required renewal date, then Lender shall have the right to exercise the option to renew the <br /> Lease in writing within fifteen (15) days of such failure to renew. <br /> 10. Lessor agrees that Administrative Agent in exercising any rights upon default by Lessee, <br /> may remove any of the Collateral from the Premises without any liability or obligation to Lessor; provided, <br /> however, that if Administrative Agent shall remove any of the Collateral, Administrative Agent shall <br /> reimburse Lessor for the reasonable and necessary cost of repair of any physical injury to the Premises <br /> directly caused by such removal, but not for any diminution in value caused by such removal. <br /> Accordingly, Administrative Agent in no event, shall be required to post any bond or other security with <br /> respect to such removal. Administrative Agent shall be required to give ten (10) days written notice to <br /> Lessor prior to entering the Premises, shall furnish evidence of reasonable liability insurance and shall not <br /> conduct any sale on the Premises. Lessor shall have no liability to Lenders or Administrative Agent for <br /> any damage to the Collateral for any reason, including the failure to maintain the Premises. <br /> 11. Lessor and Lessee shall give Administrative Agent prompt written notice of all arbitration <br /> or legal proceedings between Lessor and Lessee involving obligations under the Lease. <br /> 12 All notices, requests, demands, and other communications under this agreement shall be <br /> in writing and shall be deemed to have been duly given on the date of service if served personally on the <br /> party to whom notice is to be given, or on the third day after mailing if mailed to the party to whom notice <br /> is to be given, by first class mail, registered or certified, postage prepaid, and properly addressed as <br /> follows: <br /> LESSOR <br /> 8501 E. Princess Drive, Suite 190 <br /> Scottsdale, Arizona 85255 <br /> Attn: Michael T. Bennett, Executive Vice President—Operations <br /> LESSEE <br /> 4824-7107-7650.1 <br /> STORE/Concord <br /> SNDA <br /> 721 Diers Ave.,Grand Island,NE 68803 <br /> File No 7210/02-81 13 <br />
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