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~ ~ <br />1 <br />2 <br />3 <br />4 <br />5 <br />6 <br />7 <br />8 <br />~9 <br />YO <br />11 <br />12 <br />13 <br />14 <br />15 <br />16 <br />17 <br />18 <br />19 <br />20 <br />21 <br />22 <br />23 ~ <br />24 <br />25 <br />26 <br />27 <br />2$ <br />29 <br />30 <br />31 <br />32 <br />~, ~~ <br />shall be deemed earned by LESSOR when paid and <br />shall not be refundab le . <br />9T44 r~c~gT~. <br />Upon LESSEE'S request, LESSOR agrees to execute its written consent <br />to conveyance of the Leasehold to a Tz°ustee under deed of trust <br />(herein called "Trustee") for the benefit of a lender (herein <br />called "Beneficiary"), subject to the following covenants and <br />conditions: <br />F. Such deed of trust and all rights acquired thereunder <br />shall be subject to each and every term, covenant, and <br />condition set forth in this Lease and to all the rights <br />and interests of the LESSOR hereunder, except as herein <br />otherwise provided. <br />G. In the event of conflict between the provisions of <br />this Lease and the provisions of any such deed of trust, <br />the provisions of this Lease shall control. <br />H. Prior to execution of said consent, LESSEE shall <br />furnish to LESSOR a complete copy of the deed of trust <br />and note to be secured thereby, together with the name <br />and address of the Beneficiary thereunder. No such <br />deed of trust shall be valid or effective unless and until <br />LESSOR shall execute its written consent thereto as hereinabove <br />provided. <br />I. Immediately after recording such deed of trust, LESSEE, <br />at LESSEE'S expense, shall cause to be recorded in the office <br />of the Recorder of Orange County, California, a written request, <br />executed and acknowledged by LESSOR, for a copy of any Notice <br />of Default and any Notice of Sale under the deed of trust, <br />as provided by statutes of the State of California relating <br />thereto. <br />The prior written consent~of LESSOR shall not be required for: <br />J.~ Transfer of the Leasehold by reason of foreclosure sale <br />pursuant to terms of a deed of trust to which LESSOR has <br />consented, ,judicial foreclosure of such a deed of trust, or <br />assignment in lieu of foreclosure of such a deed of trust; or <br />K. Any subsequent transfer by the Beneficiary in such <br />deed of trust, if .the Beneficiary is an established bank, <br />savings and loan association, or insurance company, and <br />is the purchaser at such foreclosure sale; <br />Provided that in the event of a transfer of the type described <br />in sub-headings "J" and "K" next above, the Beneficiary gives <br />immediate written notice to LESSOR of such transfer. Such notice <br />shall set forth the name and address of the transferee, the <br />effective date of the transfer, and incorporate the express <br />agreement of the transferee to assume and perform all of LESSEE'S <br />obligations under this Lease. A copy of the document by which <br />such transfer is made shall also be provided to LESSOR, <br />The transferee in a transfer not requiring LESSOR'S prior written <br />consent shall be liable to perform the obligations of the LESSEE <br />under this Lease only so long as such transferee holds title to <br />the Leasehold. However, a subsequent transfer of the Leasehold. <br />shall not be made c~rithout the prior written consent of LESSOR and <br />shall be subject to all the conditions provided herein. <br />reso-~s !~ -19- <br />