|
. , ' h
<br /> ' � � 201109171
<br /> This form prepared by: _
<br /> Briari M.Fox,Esq. �
<br /> DARDEN • •
<br /> l 000 Darden Center Drive
<br /> Or]ando,FL 32837 �
<br /> NON-DISTURBANCE AGRE�MENT
<br /> This Non-Disturbance Agreement("Agreement")is by and between GMRI, Inc.,a Florida corpora#ion,as"Tenant";
<br /> and Kaw Valley Bank, Custodian of John F. McGi�em, II IRA #507Q9, as "Mortgagee", and Batis Development
<br /> Company,a Kansas corgoration as"Landlord". �
<br /> RECITALS:
<br /> A. On August 5, 2U11 E.andlord and Tenant entered into a written Lease("Lease") for certain Premises iz�tize
<br /> City of Grand Island, County of Hall, and State of Nebraska,which are more particularly descr�bed in E�chibit "A". •
<br /> ("Premises"),attached to this Agreement and incor�orated inta this Agree�ent by reference with the same force and
<br /> etf'ect as if set fort�at length; and .
<br /> B. -Martgagee is the holder of a lien and encumbrance on the Premises as security for the obligation of
<br /> I.andlord pursuant to a docuznent entitled Real Estate Deed of Trust, dated August 26, 2011,recorded on August 3U,
<br /> 2011as Instrument No.p201106479 in the puhlic records of Hail County,Nebraska("Mortgage"); and
<br /> C. The parties desire to acknowledge Tenant's interest in the �'remises and its rights under the Premises so
<br /> long as Tenant is not in default under the Lease.
<br /> THEREFORE, in consideration of the mutual covenants contained in this Agreement, Tenant, Mortgagee ar�d
<br /> LandIord agree as follows: _
<br />, � l. Non-disturbance. Mortgagee recognizes and agrees to honor all of Tenant's �aghts under t�e
<br /> Lease and all of Landlord's obligations under the Lease, inciuding wi�out limitation, the use and distribution af
<br /> insurance and condemnation proceeds. So long as Teaant is not in defauit, past the applicable cure period, in the
<br /> performance of any of the Terms of the Lease, Tenant's possession of the Premises and Tenant's rights and
<br /> privileges under the �,ease, including any renewal options, wiIl not be distur6ed, diminished or inter€ered with by
<br />� Mortgagee,Mortgagee will continue to hanar LandIord's obligations under the Lease and Tenant wiii not be made a
<br /> party defenriant to any foreclosure proceeding.
<br /> � 2. Attornment. In the event Mortgagee succeeds to the interest of the landlard under the Lease,
<br /> through foreclosure of the Mortgage,deed in lieu of foreclosure,or other means,Tenant wili be baund to Mortgagee
<br /> under all of the Terms of the Lease for the balance of the Term with the same force and effect as if Martgagee were
<br /> the landlord named in the Lease, and Tenant will at#orn to Mortgagee as its landiord, the attornment to be effective
<br /> and self-operative,without the executian of any furt�er instruments, immediately upon Mortgagee succeeding to the
<br /> interest of the landlord under the Lease. "1Vlartgagee agrees #hat Tenant will be under no obligation to pay rent to
<br /> Mortgagee until Mortgagee has succeeded to the interest of the landlord under the Lease and has so notified Tenant
<br /> in writing. "I'�e respecti�e rights and obligations of Tenarjt and Mortgagee upan such attornment will, for the
<br /> balance of the Term of the Lease,be the same as now set forth in the Lease, it being the intention of the parties for
<br /> Ehis purpose to incor�sorate the Lease in#o this Agreement by reference with the same force and effect as if set fvrth
<br /> at 3ength. �
<br /> 3. . Landlord's ObliQations. In the e�ent that the Mortgage is foreclosed for any reason and
<br /> Mortgagee succeeds to the interest of the landlord under the Lease,Mortgagee will be bound to Tenant under all of
<br /> the Tenns of the Lease, and Tenant will, from and after such event, have the same remedies against Mortgagee far
<br /> C:IUserslTom.WigleylAppdatalLocallMicrosoftlWiu�dowslTemporary Intemet
<br /> FiieslContentAutlooklWlI�.OBSNINDA(00059756).DOCX
<br />
|