Common use of Subordination Attornment Nondisturbance Clause in Contracts

Subordination Attornment Nondisturbance. This lease shall be subject and subordinate to any mortgage, (a "Mortgage") now or hereafter placed by Landlord on the Property, to any and all advances made on the security thereof and to all renewals, modifications, consolidations, replacements and extensions thereof. Tenant agrees that any person holding any Mortgage shall have no duty, liability or obligation to perform any of the obligations of Landlord under this lease. In the event of Landlord's default with respect to any such obligation, Tenant will give any Lender whose name and address have previously in writing been furnished Tenant notice of a default by Landlord. Tenant may not exercise any remedies for default by Landlord unless and until Landlord and the Lender shall have received written notice of such default and a reasonable time (not less than 60 days) shall thereafter have elapsed without the default having been cured. If any Lender shall elect to have this lease superior to the lien of its Mortgage and shall give written notice thereof to Tenant, this lease shall be deemed prior to such Mortgage. The provisions of a Mortgage relating to the disposition of condemnation and insurance proceeds shall prevail over any contrary provisions contained in this lease. Subject to the nondisturbance provisions of Paragraph 16.18 of this lease, Xxxxxx agrees to attorn to a Lender or any other party who acquires ownership of the demised premises by reason of a foreclosure of a Mortgage. In the event of such foreclosure, such new owner shall not be: (i) liable for any act or omission of any prior Landlord or with respect to events occurring prior to acquisition of ownership; (ii) subject to any offsets or defenses which Tenant might have against any prior Landlord; or (iii) liable for security deposits or be bound by prepayment of more than one month's rent. With respect to any Mortgage entered into by Landlord after the execution of this lease, Xxxxxx's subordination of this lease shall be subject to receiving assurance (a "nondisturbance agreement") from the holder of the Mortgage that Xxxxxx's possession and this lease will not be disturbed as long as Tenant is not in Default and attorns to the record owner of the demised premises. The agreements contained in this Paragraph shall be effective without the execution of any further documents; provided, however, that upon written request from Landlord or a Lender in connection with a sale, financing or refinancing of demised premises, Tenant and Landlord shall execute such further writings as may be reasonably required to separately document any such subordination or nonsubordination, attornment and/or nondisturbance agreement as is provided for herein. Landlord is hereby irrevocably vested with full power to subordinate this lease to a Mortgage upon the terms herein set forth.

Subordination Attornment Nondisturbance. This lease shall be subject and subordinate to any mortgage, (a "Mortgage") now or hereafter placed by Landlord on the Property, to any and all advances made on the security thereof and to all renewals, modifications, consolidations, replacements and extensions thereof. Tenant agrees that any person holding any Mortgage shall have no duty, liability or obligation to perform any of the obligations of Landlord under this lease. In the event of Landlord's default with respect to any such obligation, Tenant will give any Lender whose name and address have previously in writing been furnished Tenant notice of a default by Landlord. Tenant may not exercise any remedies for default by Landlord unless and until Landlord and the Lender shall have received written notice of such default and a reasonable time (not less than 60 days) shall thereafter have elapsed without the default having been cured. If any Lender shall elect to have this lease superior to the lien of its Mortgage and shall give written notice thereof to Tenant, this lease shall be deemed prior to such Mortgage. The provisions of a Mortgage relating to the disposition of condemnation and insurance proceeds shall prevail over any contrary provisions contained in this lease. Subject to the nondisturbance provisions of Paragraph 16.18 of this lease, Xxxxxx Tenant agrees to attorn to a Lender or any other party who acquires ownership of the demised premises by reason of a foreclosure of a Mortgage. In the event of such foreclosure, such new owner shall not be: (i) liable for any act or omission of any prior Landlord or with respect to events occurring prior to acquisition of ownership; (ii) subject to any offsets or defenses which Tenant might have against any prior Landlord; or (iii) liable for security deposits or be bound by prepayment of more than one month's rent. With respect to any Mortgage entered into by Landlord after the execution of this lease, XxxxxxTenant's subordination of this lease shall be subject to receiving assurance (a "nondisturbance agreement") from the holder of the Mortgage that XxxxxxTenant's possession and this lease will not be disturbed as long as Tenant is not in Default and attorns to the record owner of the demised premises. The agreements contained in this Paragraph shall be effective without the execution of any further documents; provided, however, that upon written request from Landlord or a Lender in connection with a sale, financing or refinancing of demised premises, Tenant and Landlord shall execute such further writings as may be reasonably required to separately document any such subordination or nonsubordination, attornment and/or nondisturbance agreement as is provided for herein. Landlord is hereby irrevocably vested with full power to subordinate this lease to a Mortgage upon the terms herein set forth.

Subordination Attornment Nondisturbance. This lease Owner and the City agree that this Lease shall be and hereby is made subject and subordinate at all times to all mortgages in any mortgageamounts, (a "Mortgage") and all advances thereon which may now or hereafter placed by Landlord on affect such leases or the Property, to any and all advances made on the security thereof Property and to all renewals, modifications, consolidations, replacements participation, replacements, and extensions thereof. Tenant agrees The term "mortgage" as used herein shall be deemed to include a bond, trust indenture, mortgage or deed of trust. The aforesaid provisions shall be self- operative, and no further instrument of subordination shall be required to evidence such subordination. If Owner or such lessor or mortgagee desires confirmation of such subordination, the City shall execute promptly, and without charge therefor, any certificate that any person holding any Mortgage may be reasonably requested. Such certificate shall have no dutyalso contain, liability or obligation to perform any at the election of the obligations of Landlord under this lease. In mortgagee or lessor, an agreement whereby the City will attorn to said mortgagee or lessor as landlord in the event of Landlord's default with respect a foreclosure or termination of such ground or underlying lease, or to any party taking title through such obligationmortgage in such event. Notwithstanding the provisions hereof, Tenant will give should any Lender whose name mortgagee require that this Lease be prior rather than subordinate to its mortgage, the City shall, promptly upon request therefor by Owner or such mortgagee and address have previously in writing been furnished Tenant notice of without charge therefor, execute a default by Landlord. Tenant may not exercise any remedies for default by Landlord unless and until Landlord and document effecting or acknowledging such priority, which document shall contain, at the Lender shall have received written notice option of such default and a reasonable time (not less than 60 days) shall thereafter have elapsed without the default having been cured. If any Lender shall elect to have this lease superior requesting party, an attornment obligation to the lien of its Mortgage and shall give written notice thereof to Tenant, this lease shall be deemed prior to such Mortgage. The provisions of a Mortgage relating to the disposition of condemnation and insurance proceeds shall prevail over any contrary provisions contained in this lease. Subject to the nondisturbance provisions of Paragraph 16.18 of this lease, Xxxxxx agrees to attorn to a Lender mortgagee (or any other party who acquires ownership of the demised premises by reason of a foreclosure of a Mortgage. In acquiring title through such mortgagee) as landlord in the event of foreclosure or deed in lieu thereof. Should Owner sell, convey or transfer its interest in the Property or should any mortgagee DocuSign Envelope ID: 12858BD9-7E80-44B6-853E-10F4E4129013 of Owner succeed to Owner’s interest through foreclosure or deed in lieu thereof, then the City shall attorn to such foreclosure, succeeding party as its landlord under this Lease promptly upon any such new owner succession. Such succeeding party shall not be: (i) be liable for any act or omission of any prior Landlord or with respect to events occurring Owner’s obligations and duties hereunder prior to acquisition its assumption of ownership; (ii) subject to any offsets or defenses which Tenant might have against any prior Landlord; or (iii) liable for security deposits or be bound by prepayment of more than one month's rent. With respect to any Mortgage entered into by Landlord after the execution of this lease, Xxxxxx's subordination of this lease shall be subject to receiving assurance (a "nondisturbance agreement") from the holder of the Mortgage that Xxxxxx's possession Owner’s duties and this lease will not be disturbed as long as Tenant is not in Default and attorns to the record owner of the demised premises. The agreements contained in this Paragraph shall be effective without the execution of any further documents; provided, however, that upon written request from Landlord or a Lender in connection with a sale, financing or refinancing of demised premises, Tenant and Landlord shall execute such further writings as may be reasonably required to separately document any such subordination or nonsubordination, attornment and/or nondisturbance agreement as is provided for herein. Landlord is hereby irrevocably vested with full power to subordinate this lease to a Mortgage upon the terms herein set forthobligations hereunder.