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201302502
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Last modified
8/19/2014 2:22:40 PM
Creation date
3/29/2013 4:14:05 PM
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DEEDS
Inst Number
201302502
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201302502 <br />then owner of the Shopping Center, as "landlord ", upon all of the same terms, covenants and <br />provisions contained in the Lease, and in such event: <br />(a) Tenant shall be bound to such new owner under all of the terms, covenants <br />and provisions of the Lease for the remainder of the term thereof (including the Renewal Periods, <br />if Tenant elects or has elected to exercise its options to extend the term) and Tenant hereby <br />agrees to attorn to such new owner and to recognize such new owner as "landlord" under the <br />Lease; and <br />(b) Such new owner shall be bound to Tenant under all of the terms, <br />covenants and provisions of the Lease for the remainder of the term thereof (including the <br />Renewal Periods, if Tenant elects or has elected to exercise its options to extend the term) which <br />such new owner hereby agrees to assume and perform and Tenant shall, from and after the date <br />such new owner succeeds to the interest of "landlord" under the Lease, have the same remedies <br />against such new owner for the breach of any covenant contained in the Lease that Tenant might <br />have had under the Lease against Landlord if such new owner had not succeeded to the interest <br />of "landlord "; provided, however, that such new owner shall not be: <br />(i) liable for any act or omission of any prior landlord (including <br />Landlord) unless such act or omission continues from and after the date upon which the new <br />owner succeeds to the interest of such prior landlord; <br />(ii) subject to any defenses which Tenant may have against any prior <br />landlord (including Landlord) unless resulting from any default or breach by such prior landlord <br />which continues from and after the date upon which the new owner succeeds to the interest of <br />such prior landlord; <br />(iii) subject to any offsets which Tenant may have against any prior <br />landlord, except to the extent such offsets are expressly provided under the Lease and Mortgagee <br />has received notice thereof and the opportunity to cure within the applicable time periods set <br />forth in the Lease (it being further agreed that offsets under the Lease that were deducted by <br />Tenant prior to the date upon which the new owner succeeds to the interest of such prior landlord <br />shall not be subject to challenge); <br />(iv) bound by any fixed rent or additional rent which Tenant might <br />have paid for more than one (1) month in advance of its due date under the Lease to any prior <br />landlord (including Landlord), unless such additional rent is paid in accordance with the <br />applicable provisions of the Lease; or <br />(v) bound by any amendment or modification of the Lease made <br />without its consent (unless Mortgagee's consent is not required under the terms of the <br />Mortgage); notwithstanding the foregoing, Mortgagee acknowledges that the Lease specifically <br />provides for amendments thereof upon the occurrence of certain events described in the Lease <br />(such as, for example, an amendment to the Lease confirming the measurement of the Premises), <br />and, by its execution below, Mortgagee agrees to recognize such amendments as part of the <br />Lease, and Mortgagee further agrees that such new owner shall also be bound by such <br />amendment(s) to the Lease, without any consent on the part of Mortgagee or such new owner. <br />27641/0590- 9119349v1 <br />3 <br />
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