Effect of Mortgages. The provisions and requirements of this Article shall be in addition to the provisions and requirements of any mortgage covering the property described on Exhibit "A", and not in substitution therefore. So long as any such mortgage shall remain in force and effect, the requirements of those mortgages shall govern the obligations of the parties with respect to the Project to the extent the same are inconsistent with the provisions of this Article. All rights conferred upon the Board pursuant to this Lease shall be secondary and subordinate to the rights granted to any mortgagee of Lessee, provided, however, no mortgage or security agreement will impose any liability or responsibility of any kind or nature upon the Board, the Town, or any of its various officers, members, directors, employees or agents.
Effect of Mortgages. 50 SECTION 11.4 NOTICE AND RIGHT TO CURE TENANT DEFAULTS. ............................................................................. 51 SECTION 11.5 RECOGNIZED MORTGAGEE OR ITS DESIGNEE AS TENANT UNDER THIS LEASE. ................................... 53 SECTION 11.6 EXECUTION OF NEW TENANT'S DOCUMENTS. .................................................................................... 54 SECTION 11.7 ApPLICATION OF PROCEEDS FROM INSURANCE OR CONDEMNATION AWARDs.................................... 57 SECTION 11.8 ApPEARANCE AT CONDEMNATION PROCEEDINGS...............................................................................57 SECTION 11.9 RIGHTS LIMITED TO RECOGNIZED MORTGAGEES................................................................................ 57 SECTION 11.10 No SURRENDER OR MODIFICATION. ................................................................................................... 57 SECTION 11.11 RECOGNITION BY OWNER OF RECOGNIZED MORTGAGEE MOST SENIOR IN LIEN. ............................... 58 SECTION 11.12 RECOGNIZED MORTGAGEE'S ASSIGNMENT RIGHTS. ........................................................................... 58 SECTION 11.13 NOTICES UNDER A MORTGAGE. ......................................................................................................... 59 ARTICLE 12
Effect of Mortgages
