LANDLORD HAS RECEIVED PRIOR WRITTEN
NOTICE OF THE EXISTENCE OF THE RECOGNIZED MORTGAGE AND SUCH RECOGNIZED MORTGAGE
REMAINS A RECORDED LIEN ON THE DEMISED PREMISES (OR OTHER SATISFACTORY EVIDENCE
OF THE LIEN OF THE RECOGNIZED MORTGAGE), TOGETHER WITH COPIES OF THE RECOGNIZED
MORTGAGE AND THE NAME AND ADDRESS OF THE RECOGNIZED MORTGAGEE TO WHICH NOTICES
SHALL BE SENT AND, IF SUCH ADDRESS CHANGES FROM TIME TO TIME, THE NEW ADDRESS OF
SUCH RECOGNIZED MORTGAGEE TO WHICH NOTICES MAY BE SENT.
SECTION 31.4
ACCEPTANCE OF PERFORMANCE.
LANDLORD SHALL ACCEPT
PERFORMANCE BY A RECOGNIZED MORTGAGEE OF ANY COVENANT, CONDITION OR AGREEMENT ON
TENANT'S PART TO BE PERFORMED HEREUNDER WITH THE SAME FORCE AND EFFECT AS THOUGH
PERFORMED BY TENANT.
SECTION 31.5
OTHER DEFAULTS.
WHILE A RECOGNIZED MORTGAGEE IS EXERCISING
ANY RIGHT TO CURE TENANT'S DEFAULTS PURSUANT TO SECTIONS 31.2 AND 31.4 HEREOF,
LANDLORD SHALL NOT BE PRECLUDED FROM EXERCISING ANY RIGHTS OR REMEDIES IT MAY
HAVE WITH RESPECT TO OTHER DEFAULTS OF TENANT'S OBLIGATIONS THAT MAY ARISE FROM
TIME TO TIME HEREUNDER, SUBJECT IN EACH CASE TO THE RECOGNIZED MORTGAGEE'S
RIGHTS TO CURE SUCH OTHER DEFAULTS PURSUANT TO SAID SECTIONS 31.2 AND 31.4
HEREOF.
SECTION 31.6
EXECUTION OF NEW LEASE.
(A)
NOTICE OF TERMINATION.
IF THIS LEASE IS TERMINATED BY REASON OF AN EVENT
OF DEFAULT, LANDLORD SHALL, AS SOON AS PRACTICABLE THEREAFTER, GIVE NOTICE OF
SUCH TERMINATION TO EACH RECOGNIZED MORTGAGEE.
SUCH NOTICE SHALL SET FORTH IN
REASONABLE DETAIL A DESCRIPTION OF ALL DEFAULTS, TO THE ACTUAL KNOWLEDGE OF
LANDLORD, IN EXISTENCE AT THE TIME THIS LEASE WAS TERMINATED.
(B)
REQUEST FOR NEW LEASE.
IF, WITHIN TWENTY-THREE (23) BUSINESS DAYS AFTER
THE GIVING OF THE NOTICE REFERRED TO IN SECTION 31.6(A) HEREOF, A RECOGNIZED
MORTGAGEE REQUESTS A NEW LEASE, THEN, SUBJECT TO THE PROVISIONS OF SECTIONS
31.6(C) AND 31.7 HEREOF, WITHIN TWENTY-THREE (23) BUSINESS DAYS AFTER LANDLORD
HAS RECEIVED SUCH REQUEST, LANDLORD SHALL EXECUTE AND DELIVER A NEW LEASE OF THE
DEMISED PREMISES AND TENANT'S UNDIVIDED INTEREST IN THE COMMON ELEMENTS FOR THE
REMAINDER OF THIS LEASE TO THE RECOGNIZED MORTGAGEE, OR TO ANY DESIGNEE OR
NOMINEE OF THE RECOGNIZED MORTGAGEE WHICH (I) IS NOT A PROHIBITED PERSON OR
RELATED ENTITY OF TENANT AND (II) AGREES TO ASSUME THE OBLIGATIONS OF TENANT
HEREUNDER.
THE NEW LEASE SHALL HAVE THE SAME PRIORITY OF LIEN AS THIS LEASE
AND, WITH THE EXCEPTION OF THE NAME OF THE TENANT, SHALL CONTAIN THE SAME
COVENANTS, CONDITIONS, LIMITATIONS AND AGREEMENTS CONTAINED IN THIS LEASE, BUT
LANDLORD SHALL NOT BE DEEMED TO HAVE REPRESENTED OR COVENANTED THAT SUCH NEW
LEASE SHALL BE SUPERIOR TO THE CLAIMS OF ANY PRIOR TENANT, ITS CREDITORS, A
JUDICIALLY APPOINTED RECEIVER OR TRUSTEE FOR SUCH TENANT, OR ANY OTHER PERSON OR
ENTITY CLAIMING PRIORITY, BY OPERATION OF LAW OR OTHERWISE, THROUGH, UNDER, OR
BY VIRTUE OF THE ACTS OF, ANY PRIOR TENANT.
(C)
CONDITIONS PRECEDENT TO NEW LEASE.
THE PROVISIONS OF
SECTION 31.6(B) HEREOF NOTWITHSTANDING, LANDLORD IS NOT OBLIGATED TO ENTER INTO
A NEW LEASE WITH A RECOGNIZED MORTGAGEE: (I) UNLESS THE