200511152 - Laserfiche WebLink

Browse

(- <, .. .. 200511152 Financing Entity shall not be obligated to continue such possession or continue such foreclosure proceedings after such Default sbaU bave been cured. 13. Conateral Assi!!l1ment. Lessor hereby (a) consents to the collateral assignment and granting, if any, of a security interest from time to time in favor of a Financing Eotity (i) in and to the Site Compound, (ii) 'in the personal property owned by Lessee aod located at the Premises and Property, and (iii) aD subleases by Lessee of all or any portion oftbe Premises and Property and the rents, issues and profits therefrom, if any; (b) agrees that aoy interest that Lessor may have in sucb personal property or subleases. as the case may be, whether graoted pursuant to this Ground Lease or by statute, shall be subordinate to the interest of any such Financing Entity, and (c) agrees to recognize the Financing Entity as Lessee uoder this Ground Lease (or to enter into a New Lease with sucb Financing Eonty as set forth in Section 21) upon the written election of Financing Entity so long as any existing default has been cured as provided bereunder. Lessor hereby further agrees to permit the Financing Entity to remove from the Property or inspect any of the collateral in which the Financing Entity bas been granted a security interest by Lessee in accordance with. any security documents granted in favor of the Financing Entity. provided, however, such removal is in accordance with subparagraph 2(a) oftbis Lease. 14. EstoP{jel Certificates. Lessor shall from time to time. within ten (10) days after receipt of request by Lessee, deliver a written statement addressed to Lessee or any Financing Entity certifying: (a) that this Ground Lease is unmodi:fied and in full force and effect (or if modified that this Ground Lease as so modified is in full force aud effect); (b) that the lease attached to the certificate is a true and correct copy oftbis Ground Lease, and all amendm,ents hereto; (c) that to the knowledge of Lessor, Lessee has not previously assigned or hypothecated its rights or interests under . this Ground Lease, except as descn'bed in such statement with as much specificity as Lessor is able to provide; (d) charges; the term of this Ground Lease and the Rent then in effect and any additional (e) the date through which Lessee has paid Rent; (f) that Lessee is not in default under noy provision of this Ground Lease (or if in default, the nature thereof in detail) and a statement as to any outstanding obligations on the part 'of Lessee and Lessor; and (g) such ather matters as are reasonably requested by Lessee. Without in any way limiting Lessee's remedies which may arise out of Lessor's failure to timely provide an estoppel certificate as required herein, Lessor's failure to deliver such certificate within such time shall be conclusive (i) that this Ground Lease is in full force and effect, without modification except as may be represented by Lessee; (ii) that there are no uncured defaults in Lessee's or Lessor's performance hereunder; and (iii) that DO Rent for the then current month, bas been paid in advance by Lessee. Pnge 6 SiUl Nnme and nUmb~r: JoIlnsnn Cnsl..Woy Lnmbt:rCnJRllll-47\