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200905834
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Last modified
7/16/2009 4:49:26 PM
Creation date
7/16/2009 4:46:33 PM
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DEEDS
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200905834
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204945834 <br />Best Buy #1034 <br />SUBORDINATION, NON-DISTURBANCE AND ATTORNMENT AGREEMENT <br />THIS SUBORDINATION, NON-DISTURBANCE AND ATTORNMENT <br />AGREEMENT (the "Agreement") is made as of the /~'' day of~TU~ , 2009, <br />by and between U.S. BANK NATIONAL ASSOCIATION, a national banking <br />association ("Lender"), BEST BUY STORES, L.P., a Virginia limited partnership <br />("Tenant"), and CONTESTOGA MALL 2002, LLC, a Colorado limited liability <br />company ("Landlord"). <br />RECITALS: <br />A. Lender is the present owner and holder of a certain mortgage, deed of <br />trust, deed to secure debt or similar security agreement dated VJ~.t.C.v /-3 , 2009, <br />given by Landlord to Lender (the "Security Instrument") which encumbers the fee estate <br />of Landlord in certain premises described in Exhibit A attached hereto (the "Property") <br />and which secures the payment of certain indebtedness owed by Landlord to Lender <br />evidenced by a certain promissory note, dated ~~ eU /~3 , 2009, given by <br />Landlord to Lender (the "Note"); and <br />B. Tenant is the holder of a leasehold estate in a portion of the Property <br />pursuant to the provisions of a certain lease, described as follows (collectively, the <br />"Lease"): (i) a Lease dated March 31, 2005, and (ii) a Memorandum of Lease dated <br />May 22, 2006; and <br />C. Tenant has agreed to subordinate the Lease to the Security Instrument and <br />to the lien thereof and Lender has agreed to grant non-disturbance to Tenant under the <br />Lease an the terms and conditions hereinafter set forth. <br />AGREEMENT: <br />NOW, THEREFORE, the parties hereto mutually agree as follows: <br />1. Subordination. Provided that the proceeds of any insurance recovery or <br />condemnation award shall be used for the purposes stated in the Lease, Tenant agrees that <br />the Lease, as the same may hereafter be modified, amended or extended, and all of the <br />terms, covenants and provisions thereof and all rights, remedies and options of Tenant <br />thereunder are and shall at all times continue to be subject and subordinate in all respects <br />to the Security Instrument and the lien thereof, including. without limitation all renewals, <br />increases, modifications, consolidations and extensions thereof. <br />2. Non-Disturbance. So long as Tenant is not in default under the Lease <br />beyond any applicable notice and cure periods, Lender agrees for itself and its successors <br />in interest and for any purchaser of the Property upon a foreclosure of the Security <br />Instrument for the foreclosure of the Security Instrument or the sale of the Property, <br />2113441~1.doc <br />
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