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NEGOTIATING KEY LEASE PROVISIONS A Landlord's Point of View - page 52 / 60





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Automatic Subordination. Without the necessity of any additional document being executed by Tenant for the purpose of effective subordination, and at the election of Landlord or any mortgagee, or beneficiary of a deed of trust with a lien on the Building, Common Areas, or land upon which they are located or any ground lessor (collectively referred to in this Lease as "Mortgagee"), this Lease shall be subject and subordinate at all times to:


All ground leases or underlying leases which may now exist or hereafter be executed

affecting the Building, Common Areas or the land upon which they are situated or both; and


The lien of any mortgage or deed of trust which may now exist or hereafter be executed in

any amount for which the Building, Common Areas land, ground leases or underlying leases, or Landlord's interest or estate in any of said items is specified as security (collectively referred to as


Landlord's Option. Notwithstanding the foregoing, Landlord shall have the right to subordinate or cause to be subordinated any such ground leases or underlying leases or Mortgages to this Lease.

Attornment. In the event that any ground lease or underlying lease terminates for any reason or any Mortgage is foreclosed or a conveyance in lieu of foreclosure is made for any reason, Tenant shall, notwithstanding any subordination, attorn to and become the Tenant of the successor-in-interest to Landlord, at the option of such successor-in-interest. Tenant covenants and agrees to execute and deliver, upon demand by Landlord and in the form requested by Landlord, any additional documents evidencing the priority of subordination of this Lease with respect to any such ground leases or underlying leases or the lien of any such Mortgage. Should Tenant fail to sign and return any such documents within twenty (20) business days of such request, Tenant shall be in default under this Lease.

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