200607120 - Laserfiche WebLink

Browse

200607120 and re-recorded July 12, 2004, as Instrument No. 200406823~ each recorded in the Register of Deeds Office in Hall County, Nebraska (collectively, the "Trust Deeds"). C. In the Lease, Grantee has agreed to attorn to the beneficiary of any deed of trust given by Grantor that may encumber the Grantor's Property as Grantee's landlord under the Lease in the event of a foreclosure of Grantor's interest, provided that Grantee receives from every such deed of trust beneficiary a nondisturbance agreement that recognizes the validity of the Lease in the event of a foreclosure of Grantor's interest and also Grantee's right to remain in occupancy of the portion of the Grantor's Property leased by the Grantee ("Leased Premises"), pursuant to the terms of the Lease, as long as the Grantee is not in default of the Lease. NOW, THEREFORE, in consideration of the mutual covenants in this Agreement, the parties hereby agree as follows: 1. Subordination. Notwithstanding anything to the contrary set forth in the Lease, the Lease, and the leasehold estate created thereby, and all of Grantee's rights thereunder, shall be and shall at all times remain subject, subordinate, and inferior to the Trust Deeds, and the lien thereof, and all rights of Lender thereunder. 2. Consent. Lender consents to the Lease and to the Grantee's use and occupancy of the Leased Premises under the Lease. 3. Non-Disturbance. So long as the Grantee is not in default (after the expiration of any applicable cure period) in the payment of rent or in the performance of any of the other covenants of the Lease that Grantee is to perform, the Grantee's possession of the Leased Premises and the Grantee's other rights under the Lease, or any extensions or renewals thereof, shall not be diminished or interfered with by Lender. In addition, Lender shall not join Grantee as a party defendant in any action or proceeding for the purpose of terminating the Grantee's interest under the Lease or otherwise. 4. Nondisturbance, Foreclosure and Attornment. a. If Lender, or any other purchaser at a foreclosure sale or sale under private power contained in the Trust Deeds, becomes the owner of Grantor's Property, by reason of any foreclosure of the Trust Deeds, the acceptance by Lender of a deed in lieu of foreclosure, or by any other manner, Lender or such other purchaser shall not terminate the Lease, and the Lease shall continue in full force and effect as a direct lease between Grantee and Lender, or such other purchaser, under all of the terms, covenant and conditions of the Lease for the remainder of the term thereof and any extensions or renewals thereof, with the same force and effect as if Lender or such other purchaser were the landlord under the Lease. b. Immediately upon the succession of Lender or such other purchaser to the interest of the Grantor under the Lease, Grantee does hereby agree to attorn to Lender or such other purchaser as Grantee's landlord. The parties agree that such attornment shall be effective SNDA - GRIP Jabba 2