ATTACHED AS EXHIBIT D TO THIS LEASE MODIFIED TO REFLECT
THE NEW DESCRIPTION OF THE PROPERTY (WHICH MORTGAGEE SHALL EXECUTE IN
COUNTERPART AND DELIVER TO LESSEE), AND (II) LESSEE SHALL DELIVER A BARGAIN AND
SALE DEED FROM LIPA THE THEN-OWNER OF THE FORMER LIPA AREA WITH A COVENANT
AGAINST GRANTOR'S ACT, SUBJECT ONLY TO THE PERMITTED LIENS AND SUCH OTHER
MATTERS AS DO NOT ADVERSELY AFFECT THE VALUE OR USE OF THE BALANCE OF THE
PROPERTY.
(B)
LESSEE SHALL DELIVER TO LESSOR FOR ITS REVIEW THE PROPOSED
PURCHASE AND SALE AGREEMENT BETWEEN LESSOR AND LIPA NOT LESS THAN TEN (10) DAYS
BEFORE LESSOR IS REQUESTED TO SIGN SUCH AGREEMENT, AND SUBSEQUENT DRAFTS AS THE
SAME ARE PREPARED, WHICH AGREEMENT (SUBJECT TO THE OTHER PROVISIONS HEREOF)
SHALL BE REASONABLY ACCEPTABLE TO LESSOR;
(C)
LESSEE SHALL OBTAIN FOR LESSOR AN OWNER'S TITLE INSURANCE POLICY
ON THE THEN-CURRENT ALTA FORM FROM CHICAGO TITLE INSURANCE COMPANY INSURING
LESSOR THAT TITLE TO THE FORMER LIPA AREA IS VESTED IN LESSOR FREE OF ANY LIENS
(OTHER THAN AS DESCRIBED IN (A) ABOVE, AND INSURING THAT NO GORES OR STRIPS
SEPARATE THE FORMER LIPA AREA FROM THE BALANCE OF PROPERTY, PROVIDED THAT THE
SAME CAN BE PURCHASED AT REASONABLE COST (IT BEING AGREED THAT A PREMIUM FOR
SUCH POLICY AND ENDORSEMENT OF UP TO $2,000 BASED ON A PURCHASE PRICE FOR THE
FORMER LIPA AREA OF $350,000 IS REASONABLE).
(III)
WITH RESPECT TO ANY CONVEYANCE DESCRIBED IN SECTION
25.11(B)(III),
(A)
LESSEE SHALL DELIVER TO LESSOR AND MORTGAGEE REASONABLE EVIDENCE
THAT THE BALANCE OF THE PROPERTY REMAINING AFTER SUCH CONVEYANCE (THE "REMAINING
PARCEL") SHALL REMAIN AS ONE OR MORE SEPARATE, LEGALLY SUBDIVIDED PARCELS,
COMPLY WITH APPLICABLE ZONING ORDINANCES, PARKING REQUIREMENTS AND OTHER
APPLICABLE LAWS AND RESTRICTIONS AND HAVE AVAILABLE TO IT ALL UTILITY SERVICES
REASONABLY NECESSARY OR CONVENIENT TO THE USE AND OPERATION THEREOF (TAKING INTO
ACCOUNT SERVICES AVAILABLE TO IT FROM THE PUMP STATION AREA) (IT BEING
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AGREED, WITHOUT LIMITATION, THAT A PZR REPORT SHALL BE SUFFICIENT FOR THESE
PURPOSES); AND THAT NO PORTION OF THE REMAINING PARCEL SHALL FOR ANY PURPOSE
WHATSOEVER BE PART OF A TAX LOT WITH ALL OR AS PART OF ANY OF THE PUMP STATION
AREA BEING RELEASED; AND
(B)
LESSEE SHALL DELIVER TO MORTGAGEE AN ALTA FORM OF PARTIAL RELEASE
OF MORTGAGED PREMISES ENDORSEMENT, PROVIDED THAT THE SAME CAN BE PURCHASED AT
REASONABLE COST (IT BEING AGREED THAT A PREMIUM FOR SUCH ENDORSEMENT OF UP TO
$300 IS REASONABLE).
(IV)
WITH RESPECT TO A CONVEYANCE DESCRIBED IN SECTION 25.11(B)(II) OR
25.11(B)(III), FOLLOWING EACH SUCH CONVEYANCE LESSEE SHALL DELIVER TO MORTGAGEE
A METES AND BOUNDS LEGAL DESCRIPTION AND AN UPDATED SURVEY OF THE REMAINING
PARCEL MEETING THEN CURRENT ALTA/ASCM STANDARDS SHOWING THE SAME DETAIL AS THE
SURVEY DELIVERED IN CONNECTION WITH THE CLOSING OF THE SALE OF THE PROPERTY TO
THE LESSOR NAMED HEREIN; AND
(V)
LESSEE SHALL PAY AS SUPPLEMENTAL RENT TO LESSOR ON DEMAND ALL
REASONABLE OUT-OF-POCKET COSTS AND EXPENSES OF LESSOR AND MORTGAGEE (INCLUDING
REASONABLE ATTORNEYS' FEES