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201600516
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Last modified
5/17/2016 12:56:30 PM
Creation date
1/27/2016 11:16:19 AM
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DEEDS
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201600516
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51810710.1 <br />20160051$ <br />connection with the Mortgage or in case Lender takes possession of the Property pursuant to any <br />provisions of the Mortgage or the Assignment of Leases, unless the lessor under the Lease would <br />have had such right if the Mortgage or the Assignment of Leases had not been made, except that <br />neither the person nor entity acquiring the interest of the lessor under the Lease as a result of any <br />such action or proceeding or deed in lieu of any such action or proceeding (hereinafter called the <br />"Purchaser ") nor Lender if Lender takes possession of the Property, shall be (a) liable for any act <br />or omission of any prior lessor under the Lease; or (b) liable for the return of any security deposit <br />which lessee under the Lease has paid to any prior lessor under the Lease; or (c) subject to any <br />offsets or defenses which the lessee under the Lease might have against any prior lessor under <br />the Lease; or (d) bound by any base rent, percentage rent or any other payments which the lessee <br />under the Lease might have paid for more than the current month to any prior lessor under the <br />Lease; or (e) bound by any amendment or modification of the Lease or by any waiver or <br />forbearance on the part of any prior lessor made or given without the written consent of Lender <br />or such other person to whom Tenant shall attorn; or (I) bound by any consent by any lessor <br />under the Lease to any assignment or sublease of the lessee's interest in the Lease made without <br />also obtaining Lender's prior written consent; or (g) personally liable for any default under the <br />Lease or any covenant or obligation on its part to be performed thereunder as lessor, it being <br />acknowledged that Tenant's sole remedy in the event of such default shall be to proceed against <br />Landlord or Purchaser's or Lender's interest in the Property. Notwithstanding anything <br />contained herein to be contrary, Lender shall have absolutely no obligation to perform any of <br />Landlord's construction covenants under the Lease, provided that if Lender shall not perform <br />such construction covenants in the event of foreclosure or deed in lieu thereof and within a <br />reasonable time following taking of possession by Lender, then Tenant shall have the right to <br />terminate its obligations under the Lease and to pursue any and all legal remedies it may have <br />against Landlord and any third parties other than Lender. <br />2. Attornment. Unless the Lease is terminated in accordance with Paragraph 2, if the <br />interests of the lessor under the Lease shall be transferred by reason of the exercise of the power <br />of sale contained in the Mortgage (if applicable), or by any foreclosure or other proceeding for <br />enforcement of the Mortgage, or by deed in lieu of foreclosure or such other proceeding, or if <br />Lender takes possession of the Property pursuant to any provisions of the Mortgage or the <br />Assignment of Leases, the lessee thereunder shall be bound to the Purchaser or Lender, as the <br />case may be, under all of the terms, covenants and conditions of the Lease for the balance of the <br />term thereof and any extensions or renewals thereof which may be effected in accordance with <br />any option therefor in the Lease, with the same force and effect as if the Purchaser or Lender <br />were the lessor under the Lease, and Tenant, as lessee under the Lease, does hereby attorn to the <br />Purchaser and Lender if it takes possession of the Property, as its lessor under the Lease so as to <br />establish direct privity of estate and contract between Tenant and such other person, with the <br />same force and effect as though the Lease was made directly between Tenant and the person to <br />whom Tenant shall attorn as aforesaid whether or not Tenant is in possession of the Premises <br />under the Lease. Such attornment shall be effective and self - operative without the execution of <br />any further instruments upon the succession by Purchaser to the interest of the lessor under the <br />Lease or the taking of possession of the Property by Lender. Nevertheless, Tenant shall, from <br />time to time, execute and deliver such instruments evidencing such attornment as Purchaser or <br />Lender may require. The respective rights and obligations of Purchaser, Lender and of the lessee <br />under the Lease upon such attornment, to the extent of the then remaining balance of the term of <br />the Lease and any such extensions and renewals, shall be and are the same as now set forth in the <br />
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