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200807160
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Last modified
8/19/2008 7:34:53 AM
Creation date
8/19/2008 7:34:52 AM
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DEEDS
Inst Number
200807160
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<br />200807160 <br /> <br />to accept (subject to this Article 25). In submitting the Bona Fide Offer to Tenant, <br />Landlord shall segregate the price and the terms of the offer for the Leased Premises, <br />or applicable portion thereof, from the price and other terms connected with any <br />additional property or properties that such person or entity is offering to purchase from <br />Landlord, such that Tenant may purchase the Leased Premises separate from any <br />such additional property or properties. In no event shall the Bona Fide Offer condition <br />the purchase of the Leased Premises on the purchase of any additional properties from <br />Landlord. Tenant may, at Tenant's option and within twenty-one (21) days after receipt <br />of Landlord's notice of said Bona Fide Offer and receipt of a copy thereof, offer to <br />purchase the Leased Premises, or the applicable portion thereof, at the price and upon <br />the terms and conditions as are contained in said Bona Fide Offer, in which event, <br />Landlord shall sell the Leased Premises, or said applicable portions, to Tenant upod <br />said terms and conditions and said price; furthermore, in such event, Landlord shall <br />convey the Leased Premises, or the applicable portion thereof, to Tenant by warranty <br />deed. Failure of Tenant to so notify Landlord within said twenty-one (21) days shall be <br />deemed a waiver thereof as to that particular Bona Fide Offer. Notwithstanding the <br />foregoing, the price that Tenant shall pay for the Leased Premises, or portion thereof, <br />shall be reduced by an amount equal to broker's fees or commissions that would have <br />been payable by Landlord if the Leased Premises, or applicable portion thereof, were <br />sold pursuant to a Bona Fide Offer. Landlord shall provide Tenant evidence of the <br />amount of broker's fees or commissions payable in connection with any such Bona Fide <br />Offer. Landlord covenants that it shall accept no such Bona Fide Offer or convey the <br />premises until it has complied with the terms of this Article 25. Any conveyance of th~ <br />Leased Premises, or portion thereof, made in the absence of full satisfaction of this <br />Article 25 shall be void. Tenant may enforce this Article 25, without limitation, by <br />injunction, specific performance or other equitable relief. Notwithstanding the <br />foregoing, this Article 25 shall have no application to, and Tenant shall have no right of <br />first refusal in connection with, any voluntary sale by deed in lieu of foreclosure or: <br />involuntary sale, conveyance or other involuntary transfer of the Leased Premises to <br />Landlord's first priority mortgagee, whether pursuant to sheriff's sale, trustee's sale-, <br />deed in lieu of foreclosure, or other judicial or non-judicial foreclosure proceedings <br />authorized by law; provided, however, that any subsequent sale, conveyance or transfer <br />of the Leased Premises by such mortgagee or any purchaser or transferee of such <br />mortgagee shall then be subject to this Article 25 and Tenant's right of first refusal <br />contained herein (during the continuance of the Term of this Lease). " <br /> <br />(b) Tenant's election not to exercise its Right of First Refusal shall not prejudic~ <br />Tenant's rights hereunder as to any further Bona Fide Offer. The terms and conditions <br />contained in this Article 25 shall be binding upon the heirs, successors and assigns of <br />Landlord. <br /> <br />- 4 - <br /> <br />'\; ,i <br />~,\-)~. <br />
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