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80A - PH AGMT WITH COUNTY OF ORANGE 65 YR GROUND LEASE
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80A - PH AGMT WITH COUNTY OF ORANGE 65 YR GROUND LEASE
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Last modified
2/13/2020 5:09:20 PM
Creation date
2/13/2020 4:59:39 PM
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City Clerk
Doc Type
Agenda Packet
Agency
Community Development
Item #
80A
Date
2/18/2020
Destruction Year
2025
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i0a:11-111 a <br />17.2.4. Nothing in this Lease shall be construed so as to require or result in a <br />subordination in whole or in part in any way of the Lessor's Fee Interest to any Leasehold Mortgage, <br />and; <br />17.2.5. Except as otherwise expressly provided herein, in the event of any conflict <br />between the provisions of this Lease and the provisions of any such Leasehold Mortgage, the <br />provisions of this Lease shall control. <br />Tenant's encumbrance of its Leasehold Estate with a Leasehold Mortgage, as provided in this <br />Section 17.2, shall not constitute an assignment or other Transfer under Article X or otherwise, nor <br />shall any Leasehold Mortgagee, as such, be deemed to be an assignee or transferee of this Lease or of <br />the Leasehold Estate so as to require such Leasehold Mortgagee, as such, to assume the Tenant's <br />obligations and liabilities under this Lease. <br />Notwithstanding the foregoing, if any Leasehold Mortgagee (or its nominee) acquires title to <br />the Premises by foreclosure or deed in lieu thereof, any required consent of the Lessor under this <br />Section 17.2 shall not be unreasonably withheld. <br />17.3 Notification to Lessor of Leasehold Mortgage. Tenant or any Leasehold Mortgagee <br />shall, prior to making any Leasehold Mortgage, provide Lessor with written notice of such Leasehold <br />Mortgage and the name and address of the Leasehold Mortgagee. At the time of notice, Tenant or <br />such Leasehold Mortgagee shall furnish to Lessor a complete copy of any trust deed and note to be <br />secured thereby, together with the name and address of the holder thereof. Thereafter, Tenant or any <br />Leasehold Mortgagee shall notify Lessor of any change in the identity or address of such Leasehold <br />Mortgagee. Lessor shall be entitled to rely upon the addresses provided pursuant to this Section for <br />purposes of giving any notices required by this Article XVII. <br />17.4 Notice and Cure Rights of Leasehold Mortgagees With Respect to Tenant Defaults. <br />Lessor, upon delivery to Tenant of any notice of a default or demand for payment by Tenant under <br />this Lease or a matter as to which Lessor may predicate or claim a default, will promptly deliver a <br />copy of such notice to each Leasehold Mortgagee. Each notice or demand required to be given by <br />Lessor to a Leasehold Mortgagee under this Lease shall be in writing and shall be given by certified <br />or registered mail, postage prepaid, return receipt requested, to such Leasehold Mortgagee at the <br />address(es) provided by such Leasehold Mortgagee, as applicable, to Lessor from time to time in <br />writing and shall be effective upon receipt (or refusal to accept receipt). No notice or demand given <br />by Lessor to Tenant shall be effective until the duplicate copy of such notice or demand to the Tenant <br />shall have been effectively given to each Leasehold Mortgagee in accordance with this Lease. From <br />and after the date such notice has been given to any Leasehold Mortgagee, such Leasehold <br />Mortgagee shall have the same cure period for such default (or act or omission which is the subject <br />matter of such notice) that is provided to Tenant under this Lease or as otherwise agreed upon by <br />County, Agency and the Tenant, to commence and/or complete a cure of such default (or act or <br />omission which is the subject matter of such notice). Lessor shall accept any and all performance by <br />or on behalf of any Leasehold Mortgagee(s), including by any receiver obtained by any Leasehold <br />Mortgagee(s), as if the same had been done by Tenant. Tenant authorizes each Leasehold Mortgagee <br />to take any such action at such Leasehold Mortgagee's option, and hereby authorizes any Leasehold <br />Mortgagee (or any receiver or agent) to enter upon the Premises for such purpose. <br />17.5 Limitation on Lessor's Termination Right. If following the delivery of notice <br />pursuant to Section 17.4, above, the default by Tenant continues and is not cured by Tenant (or any <br />Page147 <br />M . . <br />
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