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200213082
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Last modified
10/15/2011 10:45:19 AM
Creation date
10/22/2005 10:51:05 PM
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DEEDS
Inst Number
200213082
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10/15/02 TUE 12:11 FAX 308 384 6556 CUNNINGHAM LAW OFFICE GI 16003 <br />200213082. <br />pursuant to the Lease, or the severable property defined in the <br />Lease. <br />4. LESSEE will deliver to LENDER a true, complete and correct <br />copy of the executed Lease as between LESSOR and LESSEE upon its <br />completion, with all modifications and amendments thereto; that the <br />Lease is in full force and effect and no Event of Default or event <br />which, with notice or lapse of time or both, would constitute an <br />Event of Default has occurred; and sets forth that the amount of <br />the initial annual base rent for the Lease is $28,160.65 per annum, <br />which is payable in equal monthly installments of $2,346.72; and <br />that the Lease is the legal, valid, and binding obligation of the <br />undersigned LESSEE and is enforceable against the undersigned <br />LESSEE in accordance with its terms. <br />5. If LENDER commences an action to foreclose the Deed of <br />Trust or to obtain a receiver for all or any part of the parcel, or <br />shall foreclose the Deed of Trust by advertisement, entry and sale <br />according to any procedure available under the laws of the State <br />where the parcel is located, LESSEE shall not be disturbed in its <br />rights under the Lease, provided LESSEE is not then in default <br />under such Lease. <br />6. If LENDER acquires the parcel upon foreclosure, or by Deed <br />in Lieu of Foreclosure, or by any other means: <br />a. LESSEE shall make a full, and complete attornment to <br />LENDER so as to establish direct privity between the <br />LENDER and LESSEE with respect to the Lease; and <br />b. All rights and obligations of LESSEE under the Lease <br />shall continue in full force and effect and be <br />enforceable against LESSEE by LENDER, with the same force <br />and effect as if said Lease had been originally made and <br />entered into directly by and between LENDER as LESSOR <br />thereunder, and LESSEE. <br />7. Nothing herein contained shall impose any obligations upon <br />LENDER to perform any of the obligations of LESSOR under the Lease <br />unless and until LENDER shall become owner in possession of the <br />parcel that is the subject of such Lease, and, further, LENDER <br />shall have no personal liability to LESSEE beyond LENDER's interest <br />in the property of which the leased premises form a party_ In no <br />event shall the LENDER be liable for any act or omission of any <br />prior LESSOR, or be bound by any payment which LESSEE might have <br />paid to a prior LESSOR for more than the current month or by any <br />modification of any Lease made without LENDER's prior written <br />consent. Likewise, LENDER shall not modify, alter, or amend its <br />Deed of Trust Note or Deed of Trust without the prior written <br />consent of LESSEE, if such modifications would materially and <br />adversely affect LESSEE. <br />-2- <br />
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