EXHIBIT E
NON-DISTURBANCE AGREEMENT
THIS AGREEMENT is made this day of among having
a notice address at ___________________________
the ("Tenant"), and _____________________________ (the "Owner")
and ________________________________ having a notice address at
(the "Mortgages").
WITNESSETH:
WHEREAS, the Owner and the Tenant have entered into a Lease Agreement
dated , whereby the Tenant leases from the Owner, a certain
portion of the building and premises located on the real property
described in Schedule A attached hereto and made a part hereof
by reference;
WHEREAS, the Owner has executed, acknowledged and delivered to
Mortgagee a Mortgage on the premises in the sum of $______________ ,
which Mortgage is to be recorded in the Office of the ______________ of ______________________
County;
WHEREAS, the Lease requires that the Owner deliver to Tenant,
a non-disturbance agreement from the current Mortgagee(s.) Owner
will agree to "use its best efforts to" deliver a non-disturbance
agreement to Tenant from any present or future mortgagee.
NOW, THEREFORE, in consideration of the covenants and agreements
hereinafter contained, the parties do covenant and agree as follows:
- The Mortgagee covenants and agrees that, so long as the Lease
is in full force and effect and Tenant is not in default thereunder
beyond any applicable cure, the Tenant shall not be joined as
a party defendant in any foreclosure action or proceeding which
may be instituted or taken by the Mortgagee, nor shall the Tenant
be evicted from the demised premises, or any of the Tenant's rights
under the Lease be affected in any way, by reason of any default
under the Mortgage except as hereinafter provided.
- In the event any action is instituted by the Mortgagee to foreclose
the Mortgage or otherwise enforce it, the Tenant shall promptly
upon notice by the Mortgagee pay to the Mortgagee all rent due
and to become due under the Lease.
- It is a condition of this Agreement that the Tenant shall not
at any time make any payment of advance rent or prepay rent to
the Owner prior to the time when rent payments are due under the
Lease. It being understood that the rent is payable on the first
day of each and every month in advance.
- Mortgagee may at its sole option, cure any uncured default
of Landlord under the Lease which would trigger an option of Tenant
to terminate the Lease. If the Mortgagee shall succeed to the
position of the Owner, the Tenant shall attorn to the Mortgagee
and recognize it as the Landlord under the Lease.
- The covenants and agreements herein contained shall be deemed
to be covenants running with the land and shall inure to the benefit
of and be binding upon the successors in interest of the parties
hereto.
IN WITNESS WHEREOF, the parties hereto have executed this Agreement
as of the date first above written.
______________________________________ Tenant
______________________________________ Mortgagee
Previous Section
Next Section
|
National Office Lease |
Lease Home |
SiteNet ToolKit |
SiteNet Home |
Search |
Copyright 1996 Conway Data, Inc. All rights reserved
Legal Notice: Because data comes from many sources, Conway Data
can assume no responsibility for accuracy or currency.