Laserfiche WebLink
(9) <br /> <br /> ATTACHMENT A <br />In the event a Lender, its designee or another purchaser in <br />foreclosure proceedings becomes the legal owner of the leasehold <br />estate, and upon written request by the Lender given within sixty <br />(60) days after becoming the legal owner of the leasehold estate, <br />the I~essor shall enter into a new lease of the Land with or the <br />Lender, or its nominee, purchaser, assignee or transferee, for the <br />remainder of the Lease Term with the same agreements, covenants, <br />reversionary interests and conditions (except for any requirements <br />which have been fulfilled by the Lessee prior to termination) as are <br />contained in this Lease and with priority equal to this Lease: <br />provided, however, that or the Lender shall promptly cure any <br />defaults by the Lessee susceptible to cure by the Lender. <br /> <br />(10) <br /> <br />The Lessor shall cooperate in including in this Lease by suitable <br />amendment from time to time any provision which may reasonably <br />be requested by any proposed Lender for the purpose of <br />implementing the mortgagee-protection provisions contained in <br />this Lease and allowing such proposed Lender reasonable means to <br />protect or preserve the lien of the leasehold mortgage and the value <br />of its security. The Lessor agrees to execute and deliver (and to <br />acknowledge, if necessary, for recording purposes) any agreement <br />necessary to effect any such amendment; provided, however, that <br />any such amendment shall not in any way affect the Lease Term or <br />rent under this Lease: <br /> <br />4.3 Cn~t nf I nnn~ tn he Pnid hv I e~oe <br /> <br /> The Lessee shall bear all of the costs and expenses in com~ection with (i)the preparation <br />and securing of the Loans, (ii) the delivery of any instruments and documents and their filing and <br />recording, if required, and (iii) all taxes and charges payable in connection with the Loans. <br /> <br />4.4 Proceed~ ofloan~ <br /> <br /> It is expressly understood and agreed that all Loan proceeds shall be paid to and become the <br />property of the Lessee, and that the Lessor shall have no right to receive any such Loan proceeds. <br /> <br />4.5 Nntice and Right to ('nre Defanlt~ 1 lncler 1 oan~ <br /> <br /> Upon the recording of a Memorandum of Lease or this Lease, the Lessor may record in the <br />office of the Recorder of the County in which the land is situated a request for notice of any default <br />under each Loan. In the event of default by the Lessee under a Loan, the Lessor shall have the <br />right, but not the obligation, to cure the default. Any payments made by the Lessor to cure a default <br />shall be treated as rent due from the Lessee which shall be paid, with interest which shall equal the <br /> <br /> 16 <br />144\105\153233.13 <br /> <br /> <br />