Common use of LANDLORD'S MORTGAGE Clause in Contracts

LANDLORD'S MORTGAGE. From time to time before or after the execution of this Lease, and before the termination of the Term thereof, the Landlord may execute a mortgage or trust deed in the nature of a mortgage of Landlord's interest in the Building. In such event: A. This Lease and all rights of Tenant are subject and subordinate to any mortgage or mortgages, blanket or otherwise, which do now or may hereafter affect the Building, and to any and all renewals, modifications, consolidations, replacements, and extensions thereto. It is the intention of the parties that this provision be self-operative and that no further instrument shall be required to effect such subordination of this Lease. Tenant shall, however, upon demand at any time or times, execute, acknowledge, and deliver to Landlord, within ten (10) days after written request by Landlord, without expense to Landlord, any and all instruments that may be necessary or proper to subordinate this Lease, and all rights of Tenant hereunder to any such mortgage or to confirm or evidence such subordination; provided, however, the mortgagee shall agree to enter into a non-disturbance agreement with the Tenant, which agreement shall state that provided the Tenant is in full compliance with the terms and provisions of this Lease and has not committed an Event of Default (as defined hereinafter), the Lease shall remain in full force and effect and the possession of the Leased Premises by the Tenant shall not be disturbed. B. Landlord agrees promptly to notify Tenant of the placing of any mortgage or trust deed against the Site or the Building, and Tenant agrees in the event of any act or omission by Landlord which would give Tenant the right to terminate this Lease, or to claim a partial or total eviction, Tenant shall not exercise any such right until it has notified in writing the holder of any mortgage which at the time shall be a lien on the Building, of such act or omission, and such holder is provided with a reasonable time not exceeding thirty (30) days to cure any such default. C. Tenant covenants and agrees, in the event any proceedings are brought for the foreclosure of any such mortgage, to attorn to the purchaser upon any such foreclosure sale, if so requested to do so by such purchaser, and to recognize such purchaser as the Landlord under this Lease, provided Tenant is furnished with a non disturbance agreement, within thirty (30) days of the said purchase. Tenant agrees to execute and deliver, at any time and from time to time, upon the request of Landlord or any holder of such mortgage or such purchaser, any instrument which, in the reasonable judgment of such requesting party, may be necessary or appropriate in any such foreclosure proceeding or otherwise to evidence such attornment. In the event of such foreclosure, the Tenant's right to possession and quiet enjoyment shall not be disturbed provided it is in full compliance with all the material terms and conditions of this Lease. D. Any reference herein to the words "foreclosure, foreclosure sale, and/or foreclosure proceeding" shall be interpreted to include a conveyance by deed in lieu of foreclosure.

LANDLORD'S MORTGAGE. From time If the Building and/or Leased Premises are at anytime subject to time before or after the execution of this Leasea mortgage, and before the termination Tenant has received written notice from Mortgagee of the Term thereofsame, the then in any instance in which Tenant gives notice to Landlord may execute alleging default by Landlord hereunder, Tenant will also simultaneously give a mortgage or trust deed in the nature copy of a mortgage of such notice to Landlord's interest in Mortgagee and Landlord's Mortgagee shall have the Buildingright (but not the obligation) to cure or remedy such default during the period that is permitted to Landlord hereunder, plus an additional period of thirty (30) days, or such greater period as may reasonably be required for the Mortgagee to effect the cure (including if title or possession by the Mortgagee is required to effect the cure any period required by Mortgagee to foreclose or otherwise obtain title and possession). In Tenant will accept such event: A. curative or remedial action (if any) taken by Landlord's Mortgagee with the same effect as if such action had been taken by Landlord. This Lease and all rights of Tenant are shall be subject and subordinate to any mortgage or mortgages, blanket or otherwise, which do now or hereafter covering the Building or Leased Premises. The foregoing provision shall be self• operative but, Tenant shall upon Landlord's request promptly execute any instrument or instruments which Landlord may hereafter affect deem necessary or desirable to further evidence the Building, and subordination of the Lease to any and all renewals, modifications, consolidations, replacements, and extensions thereto. It is the intention such mortgages and/or deeds of the parties that this provision be self-operative and that no further instrument shall be required to effect such subordination of this Leasetrust. Tenant shall, however, upon demand at any time hereby appoints Landlord and or times, execute, acknowledge, and deliver Landlord's successor(s) in interest as Tenant's attorney-in-fact to Landlord, within ten (10) days after written request by Landlord, without expense to Landlord, execute any and all instruments that may be documents necessary or proper to subordinate this Lease, and effectuate all rights of Tenant hereunder to any such mortgage or to confirm or evidence such subordination; provided, however, the mortgagee shall agree to enter into a non-disturbance agreement with the Tenant, which agreement shall state that provided the Tenant is in full compliance with the terms and provisions of this Lease and has not committed an Event of Default (as defined hereinafter), the Lease shall remain in full force and effect and the possession of the Leased Premises by the Tenant shall not be disturbedSection. B. Landlord agrees promptly to notify Tenant of the placing of any mortgage or trust deed against the Site or the Building, and Tenant agrees in the event of any act or omission by Landlord which would give Tenant the right to terminate this Lease, or to claim a partial or total eviction, Tenant shall not exercise any such right until it has notified in writing the holder of any mortgage which at the time shall be a lien on the Building, of such act or omission, and such holder is provided with a reasonable time not exceeding thirty (30) days to cure any such default. C. Tenant covenants and agrees, in the event any proceedings are brought for the foreclosure of any such mortgage, to attorn to the purchaser upon any such foreclosure sale, if so requested to do so by such purchaser, and to recognize such purchaser as the Landlord under this Lease, provided Tenant is furnished with a non disturbance agreement, within thirty (30) days of the said purchase. Tenant agrees to execute and deliver, at any time and from time to time, upon the request of Landlord or any holder of such mortgage or such purchaser, any instrument which, in the reasonable judgment of such requesting party, may be necessary or appropriate in any such foreclosure proceeding or otherwise to evidence such attornment. In the event of such foreclosure, the Tenant's right to possession and quiet enjoyment shall not be disturbed provided it is in full compliance with all the material terms and conditions of this Lease. D. Any reference herein to the words "foreclosure, foreclosure sale, and/or foreclosure proceeding" shall be interpreted to include a conveyance by deed in lieu of foreclosure.

LANDLORD'S MORTGAGE. From If the Building and/or Leased Premises are at any time subject to time before or after the execution of this Leasea mortgage, and before Tenant has received written notice from Mortgagee of same, then in any instance in which Tenant gives notice to Landlord alleging default by landlord hereunder, Tenant will also simultaneously give a copy of such notice to Landlord’s Mortgagee and Landlord’s Mortgagee shall have the termination right (but not the obligation) to cure or remedy such default during the period that is permitted to landlord hereunder, plus an additional period of thirty (30) days or such greater period as may reasonably be required for the Term thereof, Mortgagee to effect the Landlord may execute a mortgage cure (including if title or trust deed in possession by the nature of a mortgage of Mortgagee is required to effect the cure any period required by Mortgagee to foreclose or otherwise obtain title and possession). Tenant will accept such curative or remedial action (if any) taken by Landlord's interest in ’s Mortgagee with the Buildingsame effect as if such action had been taken by Landlord. In such event: A. This Lease and all rights of Tenant are shall be subject and subordinate to any mortgage or mortgages, blanket or otherwise, which do now or hereafter covering the Building or Leased Premises. The foregoing provision shall be self-operative but, Tenant shall upon Landlord’s request promptly execute any instrument or instruments which Landlord may hereafter affect deem necessary or desirable to further evidence the Building, and subordination of the Lease to any and all renewals, modifications, consolidations, replacements, and extensions thereto. It is the intention such mortgages and/or deeds of the parties that this provision be self-operative and that no further instrument shall be required to effect such subordination of this Leasetrust. Tenant shall, however, upon demand at any time hereby appoints Landlord and or times, execute, acknowledge, and deliver Landlord’s successor(s) In interest as Tenant’s attorney-in-fact to Landlord, within ten (10) days after written request by Landlord, without expense to Landlord, execute any and all instruments that may be documents necessary or proper to subordinate this Lease, and effectuate all rights of Tenant hereunder to any such mortgage or to confirm or evidence such subordination; provided, however, the mortgagee shall agree to enter into a non-disturbance agreement with the Tenant, which agreement shall state that provided the Tenant is in full compliance with the terms and provisions of this Lease and has not committed an Event of Default (as defined hereinafter), the Lease shall remain in full force and effect and the possession of the Leased Premises by the Tenant shall not be disturbedSection. B. Landlord agrees promptly to notify Tenant of the placing of any mortgage or trust deed against the Site or the Building, and Tenant agrees in the event of any act or omission by Landlord which would give Tenant the right to terminate this Lease, or to claim a partial or total eviction, Tenant shall not exercise any such right until it has notified in writing the holder of any mortgage which at the time shall be a lien on the Building, of such act or omission, and such holder is provided with a reasonable time not exceeding thirty (30) days to cure any such default. C. Tenant covenants and agrees, in the event any proceedings are brought for the foreclosure of any such mortgage, to attorn to the purchaser upon any such foreclosure sale, if so requested to do so by such purchaser, and to recognize such purchaser as the Landlord under this Lease, provided Tenant is furnished with a non disturbance agreement, within thirty (30) days of the said purchase. Tenant agrees to execute and deliver, at any time and from time to time, upon the request of Landlord or any holder of such mortgage or such purchaser, any instrument which, in the reasonable judgment of such requesting party, may be necessary or appropriate in any such foreclosure proceeding or otherwise to evidence such attornment. In the event of such foreclosure, the Tenant's right to possession and quiet enjoyment shall not be disturbed provided it is in full compliance with all the material terms and conditions of this Lease. D. Any reference herein to the words "foreclosure, foreclosure sale, and/or foreclosure proceeding" shall be interpreted to include a conveyance by deed in lieu of foreclosure.

LANDLORD'S MORTGAGE. From time to time either before or after the execution of this Lease, and before the termination of the Term thereof, the Landlord may execute a mortgage or trust deed in the nature of a mortgage of Landlord's ’s interest in the BuildingBuilding and/or underlying land. In such event: A. This Lease If and all rights of Tenant are subject and subordinate to any mortgage or mortgages, blanket or otherwise, which do now or may hereafter affect the Building, and to any and all renewals, modifications, consolidations, replacements, and extensions thereto. It is the intention of the parties that this provision be self-operative and that no further instrument shall be required to effect such subordination of this Lease. Tenant shall, however, upon demand at any time or times, execute, acknowledge, and deliver to Landlord, within ten (10) days after written request as requested by Landlord, without expense to Landlord, any and all instruments that may be necessary or proper to subordinate this Lease, and all rights of Tenant hereunder to any such mortgage or to confirm or evidence such subordination; provided, however, the mortgagee shall or trustee, Tenant will subordinate or agree to enter into a non-disturbance agreement with the Tenant, which agreement shall state that provided the Tenant is superiority of its interest in full compliance with the terms and provisions of this Lease and has not committed an Event of Default (as defined hereinafter), the Lease shall remain in full force and effect and the possession of the Leased Premises by the Tenant shall not be disturbed. B. Landlord agrees promptly to notify Tenant of the placing of any said mortgage or trust deed against and will execute such subordination or superiority agreement or agreements as reasonably may be required by said mortgagee or trustee. Tenant’s obligation to subordinate to Landlord’s mortgagee is conditioned upon execution by such mortgagee of an agreement, in form reasonably satisfactory to Tenant, providing that Tenant’s right of quiet possession and occupancy of the Site Premises should not be disturbed in the even to foreclosure by such mortgagee or default under the mortgage. B. Should such mortgage or trust deed be foreclosed, the liability of the mortgagee, trustee or purchaser at such foreclosure sale or the Buildingliability of a subsequent owner designated as Landlord under this Lease shall exist only so long as such trustee, mortgagee, purchaser or owner is the owner of the subject real estate, and such liability shall not continue or survive after further transfer of ownership. C. Tenant agrees that, in the event of any act or omission by Landlord which would give Tenant the right to terminate this Lease, Lease or to claim a partial or total eviction, Tenant shall not exercise any such right until right: 1. Until it has notified in writing the holder of any mortgage or trust deed which at the time shall be a lien on the Building, Building or underlying land of such act or omission, omission (if the name and address of such holder is provided with shall previously have been furnished by written notice to Tenant); and 2. Until a reasonable time period, not exceeding thirty (30) days days, for commencing the remedying of such act or omission shall have lapsed following the giving of such notice; and 3. Unless such holder, with reasonable diligence, shall not have commenced and continued to cure any remedy such defaultact or omission or to cause the same to be remedied. C. D. If such mortgage or trust deed be foreclosed, upon request of the mortgagee or trustee, Tenant covenants and agrees, in the event any proceedings are brought for the foreclosure of any such mortgage, to will attorn to the purchaser upon any such foreclosure sale, if so requested to do so by such purchaser, and to recognize such purchaser as the Landlord under this Lease, provided Tenant is furnished with a non disturbance agreement, within thirty (30) days of the said purchase. Tenant agrees to execute and deliver, at any time foreclosure sale and from time to time, upon the request of Landlord or any holder of will execute such mortgage or such purchaser, any instrument which, in the reasonable judgment of such requesting party, instruments as may be necessary or appropriate in any such foreclosure proceeding or otherwise to evidence such attornment. In Likewise, Tenant will attorn to the leasehold mortgagee (if any) in the event said leasehold mortgagee should ever become the owner of the leasehold estate covered by its mortgage or should become the owner of any new lease in replacement or substitution of such foreclosure, the Tenant's right to possession and quiet enjoyment shall not be disturbed provided it is in full compliance with all the material terms and conditions of this Leaseleasehold estate. D. Any reference herein to the words "foreclosure, foreclosure sale, and/or foreclosure proceeding" shall be interpreted to include a conveyance by deed in lieu of foreclosure.

LANDLORD'S MORTGAGE. From If the Building and/or Leased Premises are at any time subject to time before or after the execution of this Leasea mortgage, and before the termination Tenant has received written notice from Mortgagee of the Term thereofsame, the then in any instance in which Tenant gives notice to Landlord may execute alleging default by Landlord hereunder, Tenant will also simultaneously give a mortgage or trust deed in the nature copy of a mortgage of such notice to Landlord's interest in Mortgagee and Landlord's Mortgagee shall have the Buildingright (but not the obligation) to cure or remedy such default during the period that is permitted to Landlord hereunder, plus an additional period of thirty (30) days, or such greater period as may reasonably be required for the Mortgagee to effect the cure (including if title or possession by the Mortgagee is required to effect the cure any period required by Mortgagee to foreclose or otherwise obtain title and possession). In Tenant will accept such event: A. curative or remedial action (if any) taken by Landlord's Mortgagee with the same effect as if such action had been taken by Landlord. This Lease and all rights of Tenant are shall be subject and subordinate to any mortgage or mortgages, blanket or otherwise, which do now or hereafter covering the Building or Leased Premises. The foregoing provision shall be self­ operative but, Tenant shall upon Landlord's request promptly execute any instrument or instruments which Landlord may hereafter affect deem necessary or desirable to further evidence the Building, and subordination of the Lease to any and all renewals, modifications, consolidations, replacements, and extensions thereto. It is the intention such mortgages and/or deeds of the parties that this provision be self-operative and that no further instrument shall be required to effect such subordination of this Leasetrust. Tenant shall, however, upon demand at any time hereby appoints Landlord and or times, execute, acknowledge, and deliver Landlord's successor(s) in interest as Tenant's attorney-in-fact to Landlord, within ten (10) days after written request by Landlord, without expense to Landlord, execute any and all instruments that may be documents necessary or proper to subordinate this Lease, and effectuate all rights of Tenant hereunder to any such mortgage or to confirm or evidence such subordination; provided, however, the mortgagee shall agree to enter into a non-disturbance agreement with the Tenant, which agreement shall state that provided the Tenant is in full compliance with the terms and provisions of this Lease and has not committed an Event of Default (as defined hereinafter), the Lease shall remain in full force and effect and the possession of the Leased Premises by the Tenant shall not be disturbedSection. B. Landlord agrees promptly to notify Tenant of the placing of any mortgage or trust deed against the Site or the Building, and Tenant agrees in the event of any act or omission by Landlord which would give Tenant the right to terminate this Lease, or to claim a partial or total eviction, Tenant shall not exercise any such right until it has notified in writing the holder of any mortgage which at the time shall be a lien on the Building, of such act or omission, and such holder is provided with a reasonable time not exceeding thirty (30) days to cure any such default. C. Tenant covenants and agrees, in the event any proceedings are brought for the foreclosure of any such mortgage, to attorn to the purchaser upon any such foreclosure sale, if so requested to do so by such purchaser, and to recognize such purchaser as the Landlord under this Lease, provided Tenant is furnished with a non disturbance agreement, within thirty (30) days of the said purchase. Tenant agrees to execute and deliver, at any time and from time to time, upon the request of Landlord or any holder of such mortgage or such purchaser, any instrument which, in the reasonable judgment of such requesting party, may be necessary or appropriate in any such foreclosure proceeding or otherwise to evidence such attornment. In the event of such foreclosure, the Tenant's right to possession and quiet enjoyment shall not be disturbed provided it is in full compliance with all the material terms and conditions of this Lease. D. Any reference herein to the words "foreclosure, foreclosure sale, and/or foreclosure proceeding" shall be interpreted to include a conveyance by deed in lieu of foreclosure.

LANDLORD'S MORTGAGE. From time to time either before or after the execution of this Lease, and before the termination of the Term thereof, the Landlord may execute a mortgage or trust deed in the nature of a mortgage of Landlord's interest in the BuildingBuilding and/or underlying land. In such event: A. This Lease If and all rights of Tenant are subject and subordinate to any mortgage or mortgages, blanket or otherwise, which do now or may hereafter affect the Building, and to any and all renewals, modifications, consolidations, replacements, and extensions thereto. It is the intention of the parties that this provision be self-operative and that no further instrument shall be required to effect such subordination of this Lease. Tenant shall, however, upon demand at any time or times, execute, acknowledge, and deliver to Landlord, within ten (10) days after written request as requested by Landlord, without expense to Landlord, any and all instruments that may be necessary or proper to subordinate this Lease, and all rights of Tenant hereunder to any such mortgage or to confirm or evidence such subordination; provided, however, the mortgagee shall or trustee, Tenant will subordinate or agree to enter into a non-disturbance agreement with the Tenant, which agreement shall state that provided the Tenant is tot he superiority of its interest in full compliance with the terms and provisions of this Lease and has not committed an Event of Default (as defined hereinafter), the Lease shall remain in full force and effect and the possession of the Leased Premises by the Tenant shall not be disturbed. B. Landlord agrees promptly to notify Tenant of the placing of any said mortgage or trust deed against and will execute such subordination or superiority agreement or agreements as reasonably may be required by said mortgagee or trustee. Tenant's obligation to subordinate to Landlord's mortgagee is conditioned upon execution by such mortgagee of an agreement, in form reasonably satisfactory to Tenant, providing that Tenant's right of quiet possession and occupancy of the Site Premises should not be disturbed in the even to foreclosure by such mortgagee or default under the mortgage. B. Should such mortgage or trust deed be foreclosed, the liability of the mortgagee, trustee or purchaser at such foreclosure sale or the Buildingliability of a subsequent owner designated as Landlord under this Lease shall exist only so long as such trustee, mortgagee, purchaser or owner is the owner of the subject real estate, and such liability shall not continue or survive after further transfer of ownership. C. Tenant agrees that, in the event of any act or omission by Landlord which would give Tenant the right to terminate this Lease, Lease or to claim a partial or total eviction, Tenant shall not exercise any such right until right: 1. Until it has notified in writing the holder of any mortgage or trust deed which at the time shall be a lien on the Building, Building or underlying land of such act or omission, omission (if the name and address of such holder is provided with shall previously have been furnished by written notice to Tenant); and 2. Until a reasonable time period, not exceeding thirty (30) days days, for commencing the remedying of such act or omission shall have lapsed following the giving of such notice; and 3. Unless such holder, with reasonable diligence, shall not have commenced and continued to cure any remedy such defaultact or omission or to cause the same to be remedied. C. D. If such mortgage or trust deed be foreclosed, upon request of the mortgagee or trustee, Tenant covenants and agrees, in the event any proceedings are brought for the foreclosure of any such mortgage, to will attorn to the purchaser upon any such foreclosure sale, if so requested to do so by such purchaser, and to recognize such purchaser as the Landlord under this Lease, provided Tenant is furnished with a non disturbance agreement, within thirty (30) days of the said purchase. Tenant agrees to execute and deliver, at any time foreclosure sale and from time to time, upon the request of Landlord or any holder of will execute such mortgage or such purchaser, any instrument which, in the reasonable judgment of such requesting party, instruments as may be necessary or appropriate in any such foreclosure proceeding or otherwise to evidence such attornment. In Likewise, Tenant will attorn to the leasehold mortgagee (if any) in the event said leasehold mortgagee should ever become the owner of the leasehold estate covered by its mortgage or should become the owner of any new lease in replacement or substitution of such foreclosure, the Tenant's right to possession and quiet enjoyment shall not be disturbed provided it is in full compliance with all the material terms and conditions of this Leaseleasehold estate. D. Any reference herein to the words "foreclosure, foreclosure sale, and/or foreclosure proceeding" shall be interpreted to include a conveyance by deed in lieu of foreclosure.