Res 2006-016 - Laserfiche WebLink

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et; ~~oz Fs lnii7g~73 OFD: ?2f,~ ;;;.>a Tenant's leasehold interest in the Demised Premises under the Mortgage. Furthermore, Mortgagee acknowledges and agrees that the Mortgage does nut com~ey or assign any- interest in quid to the Demised Premises and,'or any improvements constructed thereon, or other property of [_andlord other than Tenant's leasehold interest in same pursuant to the Lease, nor does it create alien on any interest in such Demised Premises, improvements, or property other than Tenant's leasehold interest in s~rne. Landlord's consent to the 1~iortgage shall not be deemed or construed as Landlord's consent to any other assignment or transfer of the MllA, the Hotel, the Hotel Site, the Lease or t'enant's rights therein nor shall such consent be deemed or constnued as constituting a waiver of Landlord's right to consent under the Lease and MDA to (i) any 1'urlher assignment or subletting of Tenant's interest in and to the [.ease, or (ii) any further assigrunent of Tenant's rights in and to the ~IDA, the Hotel ur the Hotel Site, it being acknowledged by both Tenant and Mortgagee that such right of consent is hereby reserved by Landlord and not waived as a result of this Agreement. T~urthermore, Landlord's consent to the Mortgage shall not be deemed or construed as constituting the consent of landlord to any transfer of the Tenant's interest in and to the Hotel, the hotel Site, the Lease or MDA pursuant to a foreclosure or other conveyance under the Mortgage, or pursuant to any transfer of same in lieu of foreclosure of the lien of the IVlortgage, or pursuant to any other form of conveyance, and ~uZy such foreclosure or other conveyance shall be deemed to be a transfer for which Landlord's subsequent written consent is required under the Lease acrd MDA, other than a tratister to 1~lortgagee as allowed by Section 5 hereof: 2. Nam-T)isturbance. As lung as Tenant is 'not in default under the i.ease, or if Tenant has defaulted, as long as Mortgagee has timely cured such default as provided herein, Landlord agrees: (a) not to evict Tenant or Mortgagee from the Demised Premises or any part(s) thereof; (b) not to terminate or disturb Tenant's or Mortgagee's leasehold estate, possession, or occupancy of the Demised Premises; and (c) not to diminish, interfere or affect any of Tenant's or Mortgagee's rights and privileges under the Lease. 3. Notice of Default and Cure. Landlord agrees to give Mortgagee notice of any default by Tenant under the Lease or the :~iDA at the same time as Landlord gives notice to the "tenant, and no such notice shall be effective unless a copy is so served upon Mortgagee. Mortgagee shall be entitled, but shall not he obligated, upon notice of a default by Landlord under the Lease or the MDA to remedy the default; provided, however, that Mortgagee shall have the same period of time fur remedying any default or acts or omissions which rue the subject matter of such notice or causing the same to be remedied as is given Tenant under the Lease or the MI)A, as the rase may he, plus (i) except if subsection (ii) below is applicable, thirty (30) days to remedy, or cause to he remedied the defaults or acts or omissions ~~hich arc the subject matter of such notice as spccifred in any such notice, provided that such defaults are capable of being cured by the Mortgagee ur un behalf of the iV~Iortgague, or (ii) ten (l0) business clays to remedy any defaults in the payment of rent ur other amounts owed by 'Tenant under the Lease or :~1DA ~~hich arc the subject matter of such notice as specit7ed in any such notice. In the event the Mortgagee cures any default of l'enant under the Lr:ase or the h(D.a within any period of time pruvidud herein for Tenant and/or 1~Iortgagce to cure same, Landlord will recognize such cure as being that of 'Tenant. I'~nant authorizes Mortgagee to take atry such action at the Mortgagee's option and does hereby authorise entry upon the Demised Properties by the t ~t5(hh, i