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<br /> [:ROUND L•�ASE SUBURDINATION A'j�RNMENT.AND �� `,
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<br /> F NANDISTLJRBANC�AGREEMENT
<br /> s,�" [Fazoli's Restaurant#1782]
<br /> r 9'fw �11.0�93�
<br /> This Ground Lease Subordinadon, Attornment, And NondisturbancE Agreement is =
<br /> � made as of the date of later execution by STANDARD INSURANCE COMPANY, an
<br /> � Oregon corporation with principal officas at 1100 sw six Avenue. P7E . Portland,
<br /> Oregon 97207 ("Lender"), and SEAZONA PROPERTIES, I.TD., a Califomia limited -
<br /> ., partnership; BRIAN C. MALK TRUST dated February 3, 1981; PETER A. ZARCADES _
<br />- 5EPARATE PROPERTY TI:UST dated October 29, 198Q; J. GERALD LIPSCHITZ
<br />= AND ANN F. LIPSCHITZ, hushand and wife; and SMITH FAMILY TRUST, all with
<br /> � principal offices at 5080 Shoreham Plaae, Suite 100, �an Diego, CA 92122 ("Lessor"), and
<br /> � FAZOLI'S RESTAURANTS, INC., a Kentucky corporation with principal offices at 2470 -
<br /> Palumbo Drive,Lexington,Kentucky 40509("Lessee"). =
<br /> Re�ltals
<br /> � ' First, that Lessor and Lessee are parties to a Ground Lease dated September 26, 1991 (the -
<br /> - "Lease"), which Lease covers part or aU of the real property, excluding improvements (the
<br /> � , . "Froperty"),more particularly described in Exhibit A,attaGhed hereto and incorporated herein by
<br />_ ' this referenced.
<br /> � � Second, that STAI�IDARD INSURANCE COMPANY, an Ore�on corporation ("Lendc:r"), has
<br /> �� agreed to make or purchase a loan to Lessor in the original principal sum of$300�000.00,
<br /> . . evidenced by a Mortgage Note, dated November 25, 1997, and secured by a Mongage,
<br /> Assignmcnt of Rcnts,Securiry A�eement and Fixn�re Filin�,all of even date(the"Mortga�e").on __
<br /> :�,..;:} , the Propert�y and by such other security instruments as Lender may require (the "Secunty
<br /> - .:�;,:.,.r.,���
<br /> Insmiments ).
<br />"� � � Third, that as a condition precedent tn Lender's disbursement of loan proceeds, Lender has
<br />_��'i`;;�;,�:'�":� requested that Lessee subordinate tlte Lease and Lessee's interest in the Property in all r�spects to
<br />�;�,.:�. the lien of the Mortgage,which will be recorded in the county in which the Property is located, and
<br />=�w..,��,-;;�4�� � to the lien of the Secunty Instruments,if any,securing Lender's other interests m the Property.
<br />_�.,.�;....�>.
<br /> ':'��`��'-':- Fourth, in return for the subordination, Lender is agreeable to not disturbing Lessee's possession
<br />=�•.� of the Property under the Lease.
<br />; �
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<br />— Agreement �
<br />;a�::•=-��. -._, In consideration of the covenants and agreements made herein, and the mutual benefits to be
<br /> ,. " derived therefrom, the receipt and sufficiency of which are hereby acknowledged by Lessor, _.
<br />- _� Lessee and Lender,the parties hereto hereby ageed as follows: �
<br /> � , Subordination. The I,ease and Lessee's leasehold estate created thereby and any ';:_:
<br /> renewals, extensions, amendments or modifications thereof, shall be and are completely and '.=
<br /> unconditionally subject and subordinate to the lien of the Mortgage and to the liens of the Security
<br /> Instruments,if any,and to all the terms,conditions and provisions thereof,to all aavances made or
<br /> to be made thereunder,and to any renewuls,extensions,modifications or replacements thereof.
<br /> 2, ane . Lessor and Lessee are executing this instrument in order to induce Lender to
<br /> 1 disburse the loan praceeds secured by the Mortgage, and the undersigned agree that the
<br /> Idisbursement by Lender of all or any part of the loan proceeds shall constitute conclusive reliance
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