California Ground Lease Sample Clauses

California Ground Lease. 4.26.1 The California Lease or a memorandum thereof has been duly recorded, the California Lease permits the interest of the ground lessee thereunder to be encumbered by the Deed of Trust, and there has not been a material change in the terms of the California Lease since its recordation. 4.26.2 Except for the Permitted Exceptions, Wild Bills California, Inc.'s interest in the California Lease is not subject to any liens or encumbrances superior to, or of equal priority with, the Deed of Trust.