Common use of Subordination to Mortgage Clause in Contracts

Subordination to Mortgage. This Lease shall be subject and subordinate to any mortgage or deed of trust which may hereafter encumber the Building, and to all renewals, modifications, consolidations, replacements, and extensions thereof, which contain (or which are included in a separate agreement) provisions to the effect that if there should be a foreclosure or sale under power under such mortgage or deed of trust, Lessee shall not be made a party defendant thereto, nor shall such foreclosure or sale under power disturb Lessee's possession under this Lease, provided always Lessee shall not be in default under this Lease. This clause shall be self-operative and no further instrument of subordination need be required by any mortgagee. In confirmation of such subordination, however, Lessee shall, at Lessor's request, execute promptly any certificate or instrument evidencing such subordination that Lessor may request. Lessee hereby constitutes and appoints Lessor the Lessee's attorney-in-fact to execute any such certificate or instrument for and on behalf of Lessee. In the event of the enforcement by the trustee or the beneficiary under any such mortgage or deed of trust of the remedies provided for by law or by such mortgage or deed of trust, Lessee will, upon request of any person or party succeeding to the interest of Lessor as a result of such enforcement, automatically become the Lessee of such successor in interest without change in the terms or other provisions of this Lease; provided, however, that such successor in interest shall not be bound by (a) any payment of rent or additional rent for more than one (1) month in advance, except prepayments in the nature of security for the performance by Lessee of its obligations under this Lease, or (b) any amendment or modification of this Lease made without the written consent of such trustee or such beneficiary or such successor in interest. Upon request by such successor in interest, Lessee shall execute and deliver an instrument or instruments confirming the attornment provided for herein.

Appears in 4 contracts

Samples: Lease Agreement (IElement CORP), Lease Agreement (IElement CORP), Lease Agreement (IElement CORP)

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Subordination to Mortgage. This Provided Landlord delivers to Tenant a non-disturbance agreement, which states in pertinent part that Tenant's tenancy shall not be disturbed and this Lease shall be remain in full force and effect, Tenant agrees that this Lease is subject and subordinate to any mortgage or deed of trust which may now or hereafter encumber the Building, Premises and to all renewals, modifications, consolidations, replacements, replacements and extensions thereof, which contain (or which are included in a separate agreement) provisions to the effect that if there should be a foreclosure or sale under power under such mortgage or deed of trust, Lessee shall not be made a party defendant thereto, nor shall such foreclosure or sale under power disturb Lessee's possession under this Lease, provided always Lessee shall not be in default under this Lease. This clause shall be self-operative and no further instrument of subordination need be required by any mortgagee. In confirmation of such subordination, however, Lessee Tenant shall, at LessorLandlord's request, execute promptly any appropriate certificate or instrument evidencing such subordination that Lessor Landlord may request. Lessee Tenant hereby makes, constitutes and appoints Lessor the LesseeLandlord as Tenant's agent and attorney-in-fact to execute any such certificate or instrument for and on behalf of LesseeTenant, which power is coupled with an interest in favor of Landlord; provided, however, such appointment by Tenant shall only be exercised by Landlord in the event Tenant fails to execute such certificate or instrument within seven (7) days after request therefor by Landlord. In the event of the enforcement by the trustee or the beneficiary under any such mortgage or deed of trust of the remedies provided for by law or by such mortgage or deed of trust, Lessee Tenant will, upon request of any person or party succeeding to the interest of Lessor Landlord as a result of such enforcement, automatically attorn to and become the Lessee Tenant of such successor in interest without change in the terms or other provisions of this Lease; provided, however, that such successor in interest shall not be bound by (a) any payment of rent or additional rent for more than one (1) month in advance, except prepayments in the nature of security for the performance by Lessee of its obligations under this Lease, or (b) any amendment or modification of this Lease made without the written consent of such trustee or such beneficiary or such successor in interest. Upon request by any such successor in interest, Lessee Tenant shall execute and deliver an instrument or instruments confirming the attornment provided for herein.

Appears in 3 contracts

Samples: Real Estate Lease (Wastequip Inc), Real Estate Lease (Wastequip Inc), Real Estate Lease (Wastequip Inc)

Subordination to Mortgage. This Lease shall be subject and subordinate to any mortgage or deed of trust which may hereafter encumber the Building, and to all renewals, modifications, consolidations, replacements, and extensions thereof, which contain (or which are included in a separate agreement) provisions to the effect that if there should be a foreclosure or sale under power under such mortgage or deed of trust, Lessee shall not be made a party defendant thereto. Lessor shall be liable to Lessee only for Lessees actual, nor shall such foreclosure direct, but not consequential damages for any breach by Lessor or sale under power disturb Lessee's possession under this Lease, provided always Lessee shall not be in default under this Leaseits obligations hereunder. This clause shall be self-operative and no further instrument of subordination need be required by any mortgagee. In confirmation of such subordination, however, Lessee shall, at Lessor's request, execute promptly any certificate or instrument evidencing such subordination that Lessor may request. Lessee hereby constitutes and appoints Lessor the Lessee's attorney-in-fact to execute any such certificate or instrument for and on behalf of Lessee. In the event of the enforcement by the trustee or the beneficiary under any such mortgage or deed of trust of the remedies provided for by law or by such mortgage or deed of trust, Lessee will, upon request of any person or party succeeding to the interest of Lessor as a result of such enforcement, automatically become the Lessee of such successor in interest without change in the terms or other provisions of this Lease; provided, however, that such successor in interest shall not be bound by (a) any payment of rent or additional rent for more than one (1) month in advance, except prepayments prepayment in the nature of security for the performance by Lessee of its obligations under this Lease, or (b) any amendment or modification of this Lease made without the written consent of such trustee or such beneficiary or such successor in interest. Upon request by such successor in interest, Lessee shall execute and deliver an instrument or instruments confirming the attornment provided for herein.

Appears in 1 contract

Samples: Lease Agreement (Gold Bond Resources Inc)

Subordination to Mortgage. This Lease shall be is subject and subordinate to any first lien mortgage or deed of trust which may now or hereafter encumber the Building, Building of which the Leased Premises form a part and to all renewals, modifications, consolidations, replacements, replacements and extensions thereof, which contain (or which are included in a separate agreement) provisions to the effect that if there should be a foreclosure or sale under power under such mortgage or deed of trust, Lessee shall not be made a party defendant thereto, nor shall such foreclosure or sale under power disturb Lessee's possession under this Lease, provided always Lessee shall not be in default under this Lease. This clause shall be self-operative and no further instrument of subordination need be required by any mortgagee. In confirmation conformation of such subordination, however, Lessee shall, Tenant shall at LessorLandlord's request, request execute promptly any appropriate certificate or instrument evidencing such subordination that Lessor Landlord may request. Lessee Tenant hereby constitutes and appoints Lessor Landlord as the LesseeTenant's attorney-in-fact to execute any such certificate or instrument for and on behalf of LesseeTenant. In the event of the enforcement by the trustee or the beneficiary under any such mortgage or deed of trust of the remedies provided for by law or by such mortgage or deed of trust, Lessee Tenant will, upon request of any person or party succeeding to the interest of Lessor Landlord as a result of such enforcement, automatically become the Lessee Tenant of such successor in interest without change in the terms or other provisions of this Lease; provided, however, that such successor in interest shall not be bound by (ai) any payment of rent or additional rent for more than one (1) month in advance, advance except prepayments in the nature of security for the performance by Lessee Tenant of its obligations under this Lease, Lease or (bii) any amendment or modification of this Lease made without the written consent of such trustee or such beneficiary or such successor in interest. Upon request by such successor in interest, Lessee Tenant shall execute and deliver an instrument or instruments confirming the attornment herein provided for herein.for. Radler Office Form 1/97 12

Appears in 1 contract

Samples: Office Building Lease Agreement (Santa Fe Energy Trust)

Subordination to Mortgage. This (a) Tenant accepts this Lease shall be subject and subordinate to any mortgage or mortgage, deed of trust which may or other lien presently existing or hereafter encumber arising upon the BuildingPremises, upon the Building or upon the Property as a whole, and to all any renewals, modifications, consolidations, replacements, refinancing and extensions thereof, which contain but Tenant agrees that any such mortgagee shall have the right at any time to subordinate such mortgage, deed of trust or other lien to this Lease on such term and subject to such conditions as such mortgagee may deem appropriate in its discretion. Landlord is hereby irrevocably vested with full power and authority to subordinate this Lease to any mortgage, deed of trust or other lien now existing or hereafter placed upon the Premises, the Building or the Property as a whole, and Tenant agrees upon demand to execute such further instruments subordinating this Lease (or which are included in a separate agreementsuch mortgage to this Lease) provisions or attorning to the effect that if there should be a foreclosure or sale under power under holder of any such mortgage or deed of trust, Lessee shall not be made a party defendant thereto, nor shall such foreclosure or sale under power disturb Lessee's possession under this Lease, provided always Lessee shall not be in default under this Lease. This clause shall be self-operative and no further instrument of subordination need be required by any mortgagee. In confirmation of such subordination, however, Lessee shall, at Lessor's request, execute promptly any certificate or instrument evidencing such subordination that Lessor liens as Landlord may request. Lessee In the event that Tenant should fail to execute any such instrument promptly as requested, Tenant hereby irrevocably constitutes and appoints Lessor the Lessee's Landlord as its attorney-in-fact to execute any such certificate or instrument for in Tenant's name, place and on behalf of Lesseestead, it being agreed that such power is one coupled with an interest. In the event of the enforcement by the trustee or the beneficiary under any such mortgage or deed of trust of the remedies provided for by law or by such mortgage or deed of trust, Lessee will, Tenant agrees that it will from time to time upon request of any person by Landlord execute and deliver to such persons as Landlord shall request a statement in recordable form certifying that this Lease is unmodified and in full force and effect (or party succeeding to the interest of Lessor as a result of such enforcement, automatically become the Lessee of such successor in interest without change in the terms or other provisions of this Lease; provided, howeverif there have been modifications, that such successor the same is in interest shall full force and effect as so modified), stating the dates to which rent and other charges payable under this Lease have been paid, stating that Landlord is not be bound by in default hereunder (a) any payment of rent or additional rent for more than one (1) month in advance, except prepayments in if Tenant alleges a default stating the nature of security for the performance by Lessee of its obligations under this Lease, or (bsuch alleged default) any amendment or modification of this Lease made without the written consent of and further stating such trustee or such beneficiary or such successor in interest. Upon request by such successor in interest, Lessee other matters as Landlord shall execute and deliver an instrument or instruments confirming the attornment provided for hereinreasonably require.

Appears in 1 contract

Samples: Office Lease Agreement (Ascendant Solutions Inc)

Subordination to Mortgage. This Lease shall be subject and subordinate to any mortgage or deed of trust which may hereafter encumber the Building, and to all renewals, modifications, consolidations, replacements, and extensions thereof, which contain (or which are included in a separate agreement) provisions to the effect that if there should be a foreclosure or sale under power under such mortgage or deed of trust, Lessee shall not be made a party defendant thereto, nor shall such foreclosure or sale under power disturb Lessee's possession under this Lease, provided always Lessee shall not be in default under this Lease. This clause shall be self-operative selfoperative and no further instrument of subordination need be required by any mortgagee. In confirmation of such subordination, however, Lessee shall, at Lessor's request, execute promptly any certificate or instrument evidencing such subordination that Lessor may request. Lessee hereby constitutes and appoints Lessor the Lessee's attorney-in-fact to execute any such certificate or instrument for and on behalf of Lessee. In the event of the enforcement by the trustee or the beneficiary under any such mortgage or deed of trust of the remedies provided for by law or by such mortgage or deed of trust, Lessee will, upon request of any person or party succeeding to the interest of Lessor as a result of such enforcement, automatically become the Lessee of such successor in interest without change in the terms or other provisions of this Lease; provided, however, that such successor in interest shall not be bound by (a) any payment of rent or additional rent for more than one (1l) month in advance, except prepayments in the nature of security for the performance by Lessee of its obligations under this Lease, or (b) any amendment or modification of this Lease made without the written consent of such trustee or such beneficiary or such successor in interest. Upon request by such successor in interest, Lessee shall execute and deliver an instrument or instruments confirming the attornment provided for herein.

Appears in 1 contract

Samples: Lease Agreement (Exe Technologies Inc)

Subordination to Mortgage. This Lease shall be subject and subordinate to any mortgage or deed of trust which may hereafter encumber the Building, and to all renewals, modifications, consolidations, replacements, and extensions thereof, which contain (or which are included in a separate agreement) provisions to the effect that if there should be a foreclosure or sale under power under such mortgage or deed of trust, Lessee Tenant shall not be made a party defendant thereto, nor shall such foreclosure or sale under power disturb LesseeTenant's possession under this Lease, provided always Lessee Tenant shall not be in default under this Lease. This clause shall be self-operative and no further instrument of subordination need be required by any mortgagee. In confirmation of such subordination, however, Lessee shall, Tenant shall at LessorLandlord's request, execute promptly any certificate or instrument evidencing such subordination that Lessor Landlord may reasonably request. Lessee Tenant hereby constitutes and appoints Lessor Landlord the LesseeTenant's attorney-in-fact to execute any such certificate or instrument for and on behalf of LesseeTenant. In the event of the enforcement by the trustee or the beneficiary under any such mortgage or deed of trust of the remedies provided for by law or by such mortgage or deed of trust, Lessee Tenant will, upon request of any person or party succeeding to the interest of Lessor Landlord as a result of such enforcement, automatically become the Lessee Tenant of such successor in successor-in-interest without change in the terms or of other provisions of this Lease; provided, however, that such successor in interest shall not be bound by (a) any payment of rent or additional rent for more than one (1) month in advance, except prepayments in the nature of security for the performance by Lessee of its obligations under this Lease, or (b) any amendment or modification of this Lease made without the written consent of such trustee or such beneficiary or such successor in interest. Upon request by such successor in successor-in-interest, Lessee Tenant shall execute and deliver an instrument or instruments confirming the attornment provided for herein.

Appears in 1 contract

Samples: Lease Agreement (Natural Gas Services Group Inc)

Subordination to Mortgage. This Lease shall be subject and subordinate Lessee hereby subordinates this lease to any mortgage or deed of trust which may now or hereafter encumber the Building, Building and/or the Land and to all renewals, modifications, consolidations, replacements, replacements and extensions thereof, which contain (or which are included in a separate agreement) provisions to the effect that if there should be a foreclosure or sale under power under such mortgage or deed of trust, Lessee shall not be made a party defendant thereto, nor shall such foreclosure or sale under power disturb Lessee's possession under this Lease, provided always Lessee shall not be in default under this Lease. This clause shall be self-operative and no further instrument of subordination need be required by any mortgagee. In confirmation of such subordination, however, Lessee shall, at Lessor's request, execute promptly any certificate or instrument evidencing such subordination that Lessor may request. Lessee hereby constitutes and appoints Lessor the Lessee's attorney-in-fact to execute any such certificate or instrument for and on behalf of Lessee. In the event of the enforcement by the mortgagee, trustee or the beneficiary under any such mortgage or deed of trust of the remedies provided for by law or by such mortgage or deed of trust, Lessee will, upon request of any person or party succeeding to the interest of Lessor as a result of such enforcement, automatically become the Lessee of such successor in interest without change in the terms or other provisions of this the Lease; provided, however, that such successor in interest shall not be (i) liable for any act or omission of any prior lessor, (ii) subject to any offsets or defenses which Lessee may have against any prior lessor, (iii) bound by (a) any payment of rent or additional rent for more than one (1) month in advance, advance except prepayments in the nature of security for the performance by Lessee of its obligations under this Lease, or (biv) bound by any amendment or modification of this Lease made without after such successor in interest acquires its interest in this Lease, unless such amendment or modification is made with the written consent of such mortgagee, trustee or such beneficiary or such successor in interest. Upon request by such beneficiary or such successor in interest, Lessee shall execute and deliver an instrument or instruments confirming the attornment herein provided for herein.for. Notwithstanding anything contained in this Lease to the contrary, in the event of any default by Lessor in performing its covenants or obligations hereunder which would give Lessee the right to terminate this Lease, Lessee shall not exercise such right unless and until (i) Lessee gives written notice of such default (which notice shall specify the exact nature of said default and how the same may be cured) to the holder(s) of any mortgage or deed of trust encumbering the Building and/or the Land who had theretofore notified Lessee in writing of its interest and the address to which notices are to be sent, and (ii) said holder(s) fails to cure or cause to be cured said default within thirty (30) days from the giving of such notice by Lessee. The provisions of Paragraph 17 of

Appears in 1 contract

Samples: Office Lease Agreement (U S Long Distance Corp)

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Subordination to Mortgage. This Lease Agreement shall be subject and subordinate at all times to the lien of any existing mortgages and trust deeds and mortgages and trust deeds which hereafter may be made a lien on the leased premises. Although no instrument or act on the part of Tenant 1 shall be necessary to effectuate such subordination Tenant 1 will, nevertheless, execute and deliver such further instruments subordinating this Agreement to the lien of any such mortgages or trust deeds as may be desired by the mortgagee or holder of such trust deeds. Tenant 1 hereby appoints the Landlord as his attorney in fact, irrevocably, to execute and deliver any such instrument for Tenant 1. Tenant 1 further agrees at any time and from time to time upon not less than ten days prior written request by Landlord, to execute, acknowledge, and deliver to Landlord a statement in writing certifying that this Agreement is unmodified and is in full force and effect (or if there have been modifications, that the lease is in force and effect as modified, and stating the modifications); that there have been no defaults thereunder by Landlord or Tenant 1 (or if there have been defaults, setting forth the nature thereof), and the date to which the rent and other charges have been paid in advance, if any, it being intended that any such statement delivered pursuant to this requirement may be relied upon by any prospective lender or by any prospective purchaser of all or any portion of Landlord's interest therein, or by the holder of any existing mortgage or deed of trust which may hereafter encumber encumbering the Building, and leased premises. Tenant 1 failure to all renewals, modifications, consolidations, replacements, and extensions thereof, which contain (or which are included in a separate agreement) provisions to the effect that if there should be a foreclosure or sale under power under deliver such mortgage or deed of trust, Lessee shall not be made a party defendant thereto, nor shall statement within such foreclosure or sale under power disturb Lessee's possession under this Lease, provided always Lessee shall not be in default under this Lease. This clause time shall be self-operative conclusive upon Tenant 1 (1) that this Agreement is in full force and effect, without modification except as may be represented by Landlord; (2) that there are no further instrument of subordination need be required by any mortgageeuncured defaults in Landlord's performance; and (3) that not more than one month's rent has been paid in advance. In confirmation of such subordinationFurther, however, Lessee shall, at Lessor's upon request, execute promptly any certificate or instrument evidencing such subordination Tenant 1 shall supply to Landlord a corporate resolution certifying that Lessor may request. Lessee hereby constitutes and appoints Lessor the Lessee's attorney-in-fact to execute any such certificate or instrument for and party signing this statement on behalf of Lessee. In the event of the enforcement by the trustee or the beneficiary under any such mortgage or deed of trust of the remedies provided for by law or by such mortgage or deed of trustTenant 1 is properly authorized to do so, Lessee will, upon request of any person or party succeeding to the interest of Lessor as if Tenant 1 is a result of such enforcement, automatically become the Lessee of such successor in interest without change in the terms or other provisions of this Lease; provided, however, that such successor in interest shall not be bound by (a) any payment of rent or additional rent for more than one (1) month in advance, except prepayments in the nature of security for the performance by Lessee of its obligations under this Lease, or (b) any amendment or modification of this Lease made without the written consent of such trustee or such beneficiary or such successor in interest. Upon request by such successor in interest, Lessee shall execute and deliver an instrument or instruments confirming the attornment provided for hereincorporation.

Appears in 1 contract

Samples: Lease Agreement

Subordination to Mortgage. This Tenant accepts this Lease shall be subject and ------------------------- subordinate to any mortgage or mortgage, deed of trust which may or other lien presently existing or hereafter encumber arising upon the BuildingPremises, upon the Building or upon the Project as a whole, and to all any renewals, modifications, consolidations, replacements, refinancing and extensions thereof, which contain (but Tenant agrees that any such mortgagee shall have the right at any time to subordinate such mortgage, deed of trust or which are included in a separate agreement) provisions other lien to this Lease on such terms and subject to such conditions as such mortgagee may reasonably deem appropriate. Tenant agrees to execute such further instruments subordinating this Lease or attorning to the effect that if there should be holder of any such liens as Landlord may reasonably request. The terms of this Lease are subject to approval by the Building's permanent lender(s), and such approval is a foreclosure condition precedent to Landlord's obligations hereunder. Notwithstanding Tenant's obligation to subordinate and attorn under this paragraph, upon any default by Landlord under any interest, right, or sale under power under such mortgage or deed encumbrance superior to this Lease, this Lease shall continue in conformance with its terms and Tenant's quiet possession of trust, Lessee the Premises shall not be made a party defendant thereto, nor shall such foreclosure or sale under power disturb Lessee's possession under this Lease, disturbed provided always Lessee shall Tenant is not be in default under Paragraph 27(a) of this Lease. This clause shall be self-operative and no further instrument of subordination need be required by any mortgagee. In confirmation of such subordination, however, Lessee shall, at Lessor's request, execute promptly any certificate or instrument evidencing such subordination Tenant agrees that Lessor may request. Lessee hereby constitutes and appoints Lessor the Lessee's attorney-in-fact it will from time to execute any such certificate or instrument for and on behalf of Lessee. In the event of the enforcement by the trustee or the beneficiary under any such mortgage or deed of trust of the remedies provided for by law or by such mortgage or deed of trust, Lessee will, time upon request of any person by Landlord execute and deliver to such persons as Landlord shall request a statement in recordable form certifying that this Lease is unmodified and in full force and effect (or party succeeding to the interest of Lessor as a result of such enforcement, automatically become the Lessee of such successor in interest without change in the terms or other provisions of this Lease; provided, howeverif there have been modifications, that such successor the same is in interest shall full force and effect as so modified), stating the dates to which rent and other charges payable under this lease have been paid, stating that, to Tenant's knowledge, Landlord is not be bound by in default hereunder (a) any payment of rent or additional rent for more than one (1) month in advance, except prepayments in if Tenant alleges a default stating the nature of security for the performance by Lessee of its obligations under this Lease, or (bsuch alleged default) any amendment or modification of this Lease made without the written consent of and further stating such trustee or such beneficiary or such successor in interest. Upon request by such successor in interest, Lessee other matters as Landlord shall execute and deliver an instrument or instruments confirming the attornment provided for hereinreasonably require.

Appears in 1 contract

Samples: Cityplex Towers Lease Agreement (Digimarc Corp)

Subordination to Mortgage. 11. This Lease shall be is subject and subordinate to any first lien mortgage or deed of trust which may now or hereafter encumber the Building, Building of which the Leased Premises form a part and to all renewals, modifications, consolidations, replacements, replacements and extensions thereof, which contain (or which are included in a separate agreement) provisions to the effect that if there should be a foreclosure or sale under power under such mortgage or deed of trust, Lessee shall not be made a party defendant thereto, nor shall such foreclosure or sale under power disturb Lessee's possession under this Lease, provided always Lessee shall not be in default under this Lease. This clause shall be self-operative and no further instrument of subordination need be required by any mortgagee. In confirmation of such subordination, however, Lessee shall, shall at Lessor's request, request execute promptly any appropriate certificate or instrument evidencing such subordination that Lessor may request. Lessee hereby constitutes and appoints Lessor the Lessee's attorney-in-fact to execute any such certificate or instrument for and on behalf of Lessee. In the event of the enforcement by the trustee or the beneficiary under any such mortgage or deed of trust of the remedies provided for by law or by such mortgage or deed of trust, Lessee will, upon request of any person or party succeeding to the interest of Lessor as a result of such enforcement, automatically become the Lessee of such successor in interest without change in the terms or other provisions of this Leasesuch lease; provided, however, that such successor in interest shall not be bound by (ai) any payment of rent or additional rent for more than one (1) month in advance, advance except prepayments pre-payments in the nature of security for the performance by Lessee of its obligations under this Lease, or (bii) any amendment or modification of this Lease made without the written consent of such trustee or such beneficiary or such successor in interest. Upon request by such successor in interest, Lessee shall execute and deliver an instrument or instruments confirming the attornment herein provided for herein.for. ESTOPPEL CERTIFICATE or THIRD PARTY AGREEMENT 12. At Lessor's request Lessee will execute either an Estoppel Certificate addressed to Lessor's mortgagee or a three-party agreement among Lessor, Lessee and said mortgagee certifying as to such facts (if true) and agreeing to such notice provisions and other matters as such mortgagee may reasonably require in connection with Lessor's financing. NAME CHANGES

Appears in 1 contract

Samples: Lease Agreement (National Bancshares Corp of Texas)

Subordination to Mortgage. This Lease shall be is subject and ------------------------- subordinate to any mortgage or deed of trust which that may now or hereafter encumber the BuildingComplex, and to all renewals, modifications, consolidations, replacements, and extensions thereof, which contain (or which are included in a separate agreement) provisions to the effect that if there should be a foreclosure or sale under power under such mortgage or deed of trust, Lessee shall not be made a party defendant thereto, nor shall such foreclosure or sale under power disturb Lessee's possession under this Lease, provided always Lessee shall not be in default under this Lease. This clause shall be self-operative and no further instrument of subordination need be required by any mortgageemortgagee or beneficiary; provided that any such mortgagee or beneficiary may elect to make this Lease superior to such mortgage or deed of trust by written instrument delivered to Tenant. In confirmation of such subordination, however, Lessee Tenant shall, at Lessorwithin five (5) days after Landlord's request, execute promptly any certificate or instrument evidencing such subordination that Lessor Landlord or its lender may request. Lessee Tenant hereby constitutes and appoints Lessor the LesseeLandlord as Tenant's attorney-in-fact to execute any such certificate or instrument for and on behalf of LesseeTenant. In the event of the enforcement by the trustee mortgagee or the beneficiary under any such mortgage or deed of trust of the remedies provided for by law or by such mortgage or deed of trust, Lessee Tenant will, upon request at the option of any person or party succeeding to the interest of Lessor Landlord as a result of such enforcement, attorn to and automatically become the Lessee Tenant of such successor in interest without change in the terms or other provisions of this Lease; provided, however, that such successor in interest shall not be bound by (a) any payment of rent or additional rent for more than one (1) month in advance, except prepayments advance rental payments expressly provided for in the nature of security for the performance by Lessee of its obligations under this Lease, or ; (b) any amendment or modification of this Lease made without the written consent of such trustee mortgagee or such beneficiary or such successor in interest; (c) liable for any act or omission of Landlord; or (d) subject to any offset or defense arising prior to the date such successor in interest acquired title to the Building. Upon request by such successor in interestany mortgagee or beneficiary, Lessee Tenant shall execute and deliver an instrument or instruments confirming the attornment provided for herein.

Appears in 1 contract

Samples: Office Lease Agreement (Unified Financial Services Inc)

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