AND CONSENTS
WHICH ARE REQUIRED FOR THE SALE AND SERVICE OF ALCOHOLIC BEVERAGES ON THE
PREMISES HAVE BEEN OBTAINED FROM THE APPLICABLE GOVERNMENTAL AUTHORITIES.
(W)
CREDIT CARD COMPANIES.
THE ONLY CREDIT CARD COMPANIES ARE CHASE
MERCHANT SERVICES AND AMERICAN EXPRESS.
(X)
GROUND LEASES.
(I)
BORROWER IS AUTHORIZED TO ASSIGN ITS INTEREST IN ANY CONDEMNATION
AWARD WHICH BORROWER IS ENTITLED TO RECEIVE PURSUANT TO THE GROUND LEASE.
48
(II)
BORROWER HAS THE RIGHT TO SUBLEASE OR OTHERWISE ENCUMBER, WITHOUT
RESTRICTION, ALL OR ANY PART OF THE LEASEHOLD PREMISES AND ENCUMBER THE GROUND
LEASE AND THE LEASEHOLD ESTATE CREATED THEREBY WITHOUT THE CONSENT OF GROUND
LESSOR.
(III)
IF ANY DEFAULT BY BORROWER SHALL OCCUR UNDER THE GROUND LEASE,
LENDER IS ENTITLED UNDER THE GROUND LEASE TO RECEIVE NOTICE OF SUCH DEFAULT
CONTEMPORANEOUSLY WITH ANY NOTICE OF DEFAULT WHICH IS GIVEN TO BORROWER FROM
GROUND LESSOR AND AN ADDITIONAL OPPORTUNITY TO CURE ANY SUCH DEFAULT WHICH IS
SUSCEPTIBLE OF CURE BY LENDER, WHICH IN THE CASE OF ANY NON-MONETARY DEFAULT
SUSCEPTIBLE OF CURE BY LENDER, INCLUDES THE RIGHT OF LENDER OR ITS DESIGNEE TO
ACQUIRE POSSESSION OF THE LEASEHOLD PREMISES BY MEANS OF FORECLOSURE OF THIS
SECURITY INSTRUMENT OR BY OTHER MEANS AND TO BECOME THE LESSEE UNDER THE GROUND
LEASE.
SO LONG AS LENDER HAS AGREED TO EFFECTUATE A CURE AND IS PROCEEDING TO
CURE ANY SUCH NON-MONETARY DEFAULT WITHIN APPLICABLE NOTICE AND GRACE PERIODS
AND NO MONETARY DEFAULT REMAINS UNCURED BEYOND ANY APPLICABLE NOTICE AND GRACE
PERIODS TO WHICH BORROWER AND LENDER ARE ENTITLED, GROUND LESSOR MAY NOT
TERMINATE THE GROUND LEASE.
(IV)
THE GROUND LEASE IS IN FULL FORCE AND EFFECT AND HAS NOT BEEN
MODIFIED OR SUPPLEMENTED.
OTHER THAN IN CONNECTION WITH AN EVENT OF DEFAULT
THEREUNDER, THE GROUND LEASE CANNOT BE CANCELLED SOLELY BY GROUND LESSOR AND
REQUIRES BORROWER'S CONSENT FOR ALL MODIFICATIONS.
(V)
ALL RENTS (INCLUDING ADDITIONAL RENTS AND OTHER CHARGES) RESERVED
FOR IN THE GROUND LEASE AND PAYABLE PRIOR TO THE DATE HEREOF HAVE BEEN PAID.
(VI)
NO PARTY TO THE GROUND LEASE IS IN DEFAULT OF ANY OBLIGATION SUCH
PARTY HAS THEREUNDER AND NO EVENT HAS OCCURRED WHICH, WITH THE GIVING OF NOTICE
OR THE LAPSE OF TIME, OR BOTH, WOULD CONSTITUTE SUCH A DEFAULT THEREUNDER.
(VII)
NO NOTICE OR OTHER WRITTEN OR ORAL COMMUNICATION HAS BEEN PROVIDED
TO ANY PARTY UNDER THE GROUND LEASE WHICH ALLEGES THAT, AS OF THE DATE HEREOF,
EITHER A DEFAULT EXISTS OR WITH THE PASSAGE OF TIME WILL EXIST UNDER THE
PROVISIONS OF SUCH GROUND LEASE.
(VIII)
IF THERE SHALL BE A TAKING OF THE FEE TITLE TO THE LEASEHOLD
PREMISES, SUBJECT TO AMOUNTS WHICH ARE APPLIED TO RESTORATION, BORROWER IS
ENTITLED UNDER THE GROUND LEASE TO RECEIVE SUCH PORTION OF THE AWARD FOR SUCH
TAKING AS EQUALS THE VALUE OF BORROWER'S ESTATE UNDER THE GROUND LEASE AND
IMPROVEMENTS MADE BY BORROWER.
IF THERE SHALL BE A CASUALTY UNDER A GROUND
LEASE, EITHER THERE IS AN OBLIGATION TO USE INSURANCE PROCEEDS FOR A FULL
RESTORATION OR BORROWER IS