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Last modified
9/19/2012 4:29:28 PM
Creation date
8/16/2011 3:27:15 PM
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Building
RecordID
10258
Title
Northblock- Miscellaneous
BLDG Date
1/1/1999
Building
Courthouse Square
BLDG Document Type
Project Coordination
Project ID
CS9801 Courthouse Square Construction
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shall be extended for such period as is reasonably necessary to complete such steps with reasonable <br />diligence and continuity. <br />( e) Lessor agrees that the name of the Permitted Leasehold Mortgagee may be <br />added to the "Loss Payable Endorsement" of any and all insurance policies required to be carried by <br />Lessee or Lessor. <br />(f) Lessor agrees that in the event of termination of this Lease by reason of any <br />default by Lessee, Lessor will enter into a new lease of the Premises with the Permitted Leasehold <br />Mortgagee or its nominee, for the remainder of the Term, effective on the date of such termination, at <br />the Rent and on the terms, provisions, covenants, and agreements contained in this Lease and subject <br />only to the same conditions of title as this Lease is subject to on the date this Lease is executed, and to <br />the rights, if any, of any parties then in possession of any part of the Premises, provided: <br />( i) The Permitted Leasehold Mortgagee or its nominee shall make written <br />request on Lessor for such new lease within 15 days after the date of termination indicated in the notice <br />of termination given to Permitted Leasehold Mortgagee and such written request shall be accompanied <br />by payment to Lessor of Rent then due to Lessor under this Lease. <br />(ii) The Permitted Leasehold Mortgagee or its nominee shall pay to <br />Lessor, at the time the new lease is executed and delivered, any and all Rent that would be due at the <br />time of the execution and delivery of the new lease pursuant to this Lease but for such termination, and <br />in addition any expenses, including reasonable attorney fees, to which Lessor shall have been subjected <br />by reason of such default. <br />(iii) The Permitted Leasehold Mortgagee or its nominee shall assume, <br />perform and observe all covenants contained in this Lease on Lessee's part to be performed and further <br />shall remedy any other conditions that Lessee under the ternunated Lease was obligated to perform; and <br />on execution and delivery of such new lease, any subleases that may have been assigned and transfened <br />previously by Lessee to Lessor, as security under this Lease, shall then be held by Lessor as security for <br />the performance of all the obligations of Permitted Leasehold Mortgagee as lessee under the new lease. <br />(iv) Lessor shall not warrant possession of the Premises or the <br />Improvements t under the new lease. <br />( v) Such new lease shall be expressly made subject to the rights, if any, of <br />Lessee under the terminated Lease. <br />(vi) Permitted Leasehold Mortgagee as lessee under such new lease shall <br />have the same right, title, and interest in and to the Improvements on the Premises as Lessee had under <br />the terminated Lease. <br />( g) Nothing contained in this Lease requires the Permitted Leasehold Mortgagee <br />or its nominee to cure any default that occurs as a result of the status of Lessee, such as Lessee's <br />bankruptcy or insolvency, or to discharge any lien, charge, or encumbrance against Lessee's interest in <br />this Lease junior in pnority to the lien of the Pernutted Leasehold Mortgage. <br />(h) The First Leasehold Mortgagee shall be given notice of any arbitration or <br />other proceeding or dispute by or between the parties and shall have the right to intervene and be made <br />a party to any such arbitration or other proceedmg. In any event, each Permitted Leasehold Mortgagee <br />shall receive notice of, and a copy of, any award or decision made in the arbitration or other <br />proceeding. <br />( i) Any Leasehold Award in respect of the Premises or Improvements shall be <br />paid to the First Leasehold Mortgagee for the benefit of the parties and applied in the manner specified <br />in this Lease. <br />Ground Lease Courthouse Square <br />Page - 18 <br />
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