Common use of Landlord’s Right To Mortgage Clause in Contracts

Landlord’s Right To Mortgage. Tenant agrees to accept the premises subject to and subordinate to any existing or future mortgage or other lien, and Landlord reserves the right to subject premises to same. Tenant agrees to and hereby irrevocably grants Landlord power of attorney for Tenant for the sole purpose of executing and delivering in the name of the Tenant any document(s) related to the Landlord’s right to subject the premises to a mortgage or other lien. Possession Of Premises Tenant shall not be entitled to possession of the premises designated for lease until the security deposit and first month’s rent (or prorated portion thereof), less any applicable promotional discount, is paid in full and the premises designated for lease is vacated by the prior tenant. Materiality Of Application To Rent All representations made by Tenant(s) on the Application to Rent (or like-titled document) are material to the grant of this Lease, and the Lease is granted only on condition of the truthfulness and accuracy of said representations. If a failure to disclose or lack of truthfulness is discovered on said Application, Landlord may deem Tenant to be in breach of this Lease. Modification Of This Lease Any modification of this lease shall not be binding upon Landlord unless in writing and signed by Landlord or Landlord’s authorized agent. No oral representation shall be effective to modify this Lease. If, as per the terms of this paragraph, any provision of this lease is newly added, modified, or stricken out, the remainder of this Lease shall remain in full force and effect.

Landlord’s Right To Mortgage. Tenant agrees to accept the premises subject to and subordinate to any existing or future mortgage or other lien, and Landlord reserves the right to subject premises to same. Tenant agrees to and hereby irrevocably grants Landlord power of attorney for Tenant for the sole purpose of executing and delivering in the name of the Tenant any document(s) related to the Landlord’s right to subject the premises to a mortgage or other lien. Possession Of Premises Tenant shall not be entitled to possession of the premises designated for lease until the security deposit and first month’s rent (or prorated portion thereof), less any applicable promotional discount, is paid in full and the premises designated for lease is vacated by the prior tenant. Materiality Of Application To Rent All representations made by Tenant(s) on the Application to Rent (or like-titled document) are material to the grant of this Lease, and the Lease is granted only on condition of the truthfulness and accuracy of said representations. If a failure to disclose or lack of truthfulness is discovered on said Application, Landlord may deem Tenant to be in breach of this Lease. Modification Of This Lease Any modification of this lease shall not be binding upon Landlord unless in writing and signed by Landlord or Landlord’s authorized agent. No oral representation shall be effective to modify this Lease. If, as per the terms of this paragraph, any provision of this lease is newly added, modified, or stricken out, the remainder of this Lease shall remain in full force and effect. Remedies Not Exclusive The remedies and rights contained in and conveyed by this Lease are cumulative, and are not exclusive of other rights, remedies and benefits allowed by applicable Florida law. No Waiver The failure of Landlord to insist upon the strict performance of the terms, covenants, and agreements herein shall not be construed as a waiver or relinquishment of Landlord's right thereafter to enforce any such term, covenant, or condition, but the same shall continue in full force and effect. No act or omission of Landlord shall be considered a waiver of any of the terms or conditions of this Lease, nor excuse any conduct contrary to the terms and conditions of this Lease, nor be considered to create a pattern of conduct between the Landlord and Tenant upon which Tenant may rely upon if contrary to the terms and conditions of this Lease. Real Estate Investing. Easy. Smart. For Everyone 0 X 00 Xx, Xxx Xxxx, XX, 00000 xxxxx.xxx Heirs And Assigns It is agreed and understood that all covenants of this lease shall succeed to and be binding upon the respective heirs, executors, administrators, successors and, except as provided herein, assigns of the parties hereto, but nothing contained herein shall be construed so as to allow the Tenant to transfer or assign this lease in violation of any term here of. Destruction/Condemnation Of Premises In the event the leased premises shall be destroyed or rendered totally untenable by fire, windstorm, or any other cause beyond the control of Landlord, or shall be taken by eminent domain, then this Lease shall cease and terminate as of the date of such destruction or taking, and the rent shall then be accounted for between Landlord and Tenant up to the time of such damage or destruction or taking of said premises as if being prorated as of that date. Landlord Entry In addition to the rights provided by applicable Florida law, Landlord shall have the right to enter the leased premises at all reasonable times for the purpose of inspecting the same and/or showing the same to prospective tenants or purchasers, and to make such reasonable repairs and alterations as may be deemed necessary by Landlord for the preservation of the leased premises or the building and to remove any alterations, additions, fixtures, and any other objects which may be affixed or erected in violation of the terms of this Lease. Landlord shall give reasonable notice of intent to enter premises except in the case of an emergency.

Landlord’s Right To Mortgage. Tenant agrees Landlord shall have the right to accept encumber by mortgage, deed of trust, deed to secure debt, ground lease or otherwise (collectively, a "Mortgage") its right, title and interest in and to the premises Demised Premises or any part thereof, and/or its interest in this Lease. This Lease is subject to and subordinate to the lien of any existing Mortgage which may, at any time or future mortgage from time to time, now or other lienhereafter affect or encumber the Building and/or the Parcel of which the Demised Premises form a part, and Landlord reserves to all renewals, modifications, consolidations, replacements or extensions thereof, only so long as the right to subject premises to same. Tenant agrees to and hereby irrevocably grants Landlord power of attorney for Tenant for the sole purpose of executing and delivering in the name holder of the Tenant any document(s) related to the Landlord’s right to subject the premises to a mortgage or other lien. Possession Of Premises Mortgage agrees in writing that Tenant shall not be entitled to disturbed in its possession of the premises designated for lease until the security deposit and first month’s rent (or prorated portion thereof), less any applicable promotional discount, is paid in full and the premises designated for lease is vacated by the prior tenant. Materiality Of Application To Rent All representations made by Tenant(s) on the Application to Rent (or like-titled document) are material to the grant of this LeaseDemised Premises, and that the Lease is rights granted only on condition of under the truthfulness Mortgage shall be restricted by, and accuracy of said representations. If a failure to disclose or lack of truthfulness is discovered on said Applicationsubject to, Landlord may deem Tenant to be in breach the terms of this Lease. Modification Of This Lease Any modification of this lease shall not be binding upon Landlord unless in writing Tenant covenants and signed by agrees to attorn to Landlord or to any successor to Landlord’s authorized agent's interest in the Demised Premises, whether by sale, foreclosure, deed in lieu of foreclosure or otherwise, only so long as Tenant shall have received a written non-disturbance agreement as described above. No oral representation Notwithstanding the foregoing, in the event any holder of any such Mortgage shall be effective elect to modify make this Lease. IfLease superior to the lien or security title of its Mortgage, as per the terms of this paragraphthen, any provision of this lease is newly addedupon such party giving Tenant written notice to such effect, modified, or stricken out, the remainder of this Lease shall remain be deemed to be prior in full force and effecttime to the lien or security title of such mortgage, whether dated prior or subsequent thereto.