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200905832
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Last modified
7/16/2009 4:42:30 PM
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7/16/2009 4:40:40 PM
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DEEDS
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200905832
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200905832 <br />acquiring the interest of the lessor under the Lease as a result of any such action or proceeding, and <br />the successors and assigns thereof (hereinafter called the "Purchaser") shall not be (a) liable for <br />any act or omission of any prior lessor under the Lease (including Landlord) except to the extent <br />same constitutes a continuing default under the Lease fallowing Purchaser's acquisition of title; <br />(b) subject to any offsets or defenses which the lessee under the Lease might have against any <br />prior lessor under the Lease (including Landlord) except for offsets arising under the Lease after <br />Lender has received notice and opportunity to cure pursuant to Paragraph 5 below' and except that <br />Tenant shall in any case retain and have the offset rights specified in Paragraph 5 of the Third <br />Amendment To Lease; (c) bound by any base rent, percentage rent or any other payments which <br />the lessee under the Lease might have paid for more than sixty (60) days in advance of the due date <br />to any prior lessor (including Landlord) under the Lease unless paid to Lender or otherwise <br />actually received by Lender (and all such payments shall remain due and awing notwithstanding <br />any such advance payment beyond the current month); or (d) liable for any security deposit or <br />other sum held by any prior lessor under the Lease (including Landlord) unless paid to Lender or <br />otherwise actually received by Lender. It is understood that non-disturbance of Tenant and its <br />rights under the Lease as aforesaid is expressly conditioned upon there being no default by Tenant <br />beyond applicable notice and cure periods under the Lease at the time of foreclosure; however, <br />Tenant acknowledges and agrees that such condition is for the sole benefit of the Purchaser and <br />that the Purchaser shall have the right, at its sale and exclusive option, to waive such condition in <br />connection with its acquisition of the Property by the foreclosure without any notice to Tenant, in <br />which case the non-disturbance of Tenant shall be and remain effective so that Tenant and its <br />rights under the Lease shall not be affected by the foreclosure, notwithstanding the default. <br />Any such election by the Purchaser shall not, however, waive the default or any rights or <br />remedies of the Purchaser as lessor under the Lease as a consequence thereof. <br />2. Attornment. If the interests of the lessor under the Lease shall be transferred by <br />reason of any foreclosure, exercise of private power of sale or other proceeding far enforcement <br />of the Mortgage, the Purchaser shall be deemed to have assumed the obligations of the lessor under <br />the Lease thereafter arising, accruing or to be performed, and the lessee thereunder, after <br />notice of such succession, shall be bound to the Purchaser under all of the terms, covenants and <br />conditions of the Lease for the balance of the term thereof and any extensions or renewals thereof <br />which may be effected in accordance with any option therefor in the Lease with the same force and <br />effect as if the Purchaser were the original lessor under the Lease. Tenant, as lessee under the <br />Lease, does hereby attorn to and agree to attorn to the Purchaser, including the Lender if it be <br />the Purchaser, as its lessor under the Lease in such case. Said attornment and the provisions of <br />this Agreement shall be effective and self-operative without the execution of any further <br />instruments. The parties will, however, on request of either, execute and deliver documents in <br />confirmation of such attornment. The respective rights and obligations of Purchaser and of the <br />lessee under the Lease upon such attornment, to the extent of the then remaining balance of the <br />term of the Lease and any such extensions and renewals, shall be and are the same as now set forth <br />in the Lease, except as otherwise expressly provided herein. <br />z ~ i zzos_3.doo <br />
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