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200011178
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Last modified
10/13/2011 11:01:10 PM
Creation date
10/20/2005 10:48:13 PM
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DEEDS
Inst Number
200011178
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200011178 <br />K. Lessor is not in default of any of its obligations under the Lease, and, to the best <br />of Lessee's knowledge, no event has occurred which, with notice, the passage of <br />time or both, would constitute a default in any of Lessor's obligations under the <br />Lease. <br />L. Lessee has paid Lessor no security or similar type deposit. <br />II. Lessee shall promptly provide Lender at its address first shown above with a written <br />notice of any default on the part of the Lessor under the Lease. Lender shall have the <br />option to cure such default within the time allotted to Lessor under the Lease plus ten <br />(10) business days in the case of a monetary default and forty -five (45) business days in <br />the case of a non - monetary default. Lessee shall not invoke any of its remedies under <br />this Lease or any other remedies available to Lessee at law or in equity during any period <br />that Lender is proceeding to cure any such default with due diligence or (if possession of <br />the Leased Premises is necessary for such cure to be effectuated) during any period that <br />Lender is taking steps with due diligence to obtain the legal right to enter the Leased <br />Premises and cure any such default. <br />III. Without the prior written consent of Lender, Lessee shall not (a) modify, extend or in any <br />manner alter the terms of the Lease pertaining to the length of the Lease or the amount of <br />rent due under the Lease; (b) pay the rent or any other sums becoming due under the <br />terms of the Lease more than one month in advance; (c) accept Lessor's waiver of or <br />release from the performance of any obligation under the Lease; (d) assign the Lease or <br />sublet the Leased Premises; or (e) assign the Lease as collateral security or mortgage or <br />otherwise encumber its leasehold interest; (f) make any structural changes to the Leased <br />Premises; or (g) agree with Lessor to terminate the Lease. <br />IV. In the event Lender notifies Lessee in writing that Lessor is in default under the Deed of <br />Trust and demands that payment of all future rentals be made directly to Lender, Lessee <br />shall honor such demand and pay the full amount of its rent and all other sums due under <br />the Lease directly to Lender or as otherwise instructed by Lender pursuant to such notice, <br />beginning with the payment next due after such notice of default. Lessor hereby consents <br />to such payment and agrees that Lessee shall not be liable to Lessor for any rental <br />payments actually paid to Lender pursuant to this Section 4. <br />V. The Lease and all right, title and interest of Lessee in, to and under the Lease (including, <br />without limitation, all options or rights of first refusal to purchase the Leased Premises) <br />are now, and shall at all times continue to be, unconditionally subject and subordinate in <br />each and every respect, to the Deed of Trust and to any and all renewals, modifications, <br />extensions, substitutions, replacements and/or consolidations of the Deed of Trust. For <br />so long as the Deed of Trust is a lien on the Leased Premises, Lessee shall not mortgage <br />or otherwise encumber its leasehold interest or subordinate the estate of Lessee in the <br />Lease to any other mortgage or deed of trust or any other security instrument. <br />VI. No provision of this Agreement may be changed, waived, discharged, or terminated <br />except by an instrument in writing signed by the party against whom enforcement of the <br />change, waiver, discharge, or termination is sought. This Agreement shall inure to the <br />01- 289042.3A <br />Grand Island, NE 3 <br />
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