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NEGOTIATING KEY LEASE PROVISIONS A Landlord's Point of View - page 54 / 60

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FORM 22

MORTGAGEE PROTECTION

In the event of any default on the part of Landlord, which default would entitle Tenant to terminate this Lease, Tenant shall not terminate this Lease unless Tenant has notified any Mortgagee (whose address shall have been furnished to Tenant), at least sixty (60) days in advance of the proposed effective date of such termination. During said sixty (60) day period the Mortgagee shall be entitled to cure the default. If the default is not susceptible of cure within said sixty (60) day period, the Lease shall not be terminated if the Mortgagee shall have commenced to cure the default within said sixty (60) day period and shall pursue the cure with due diligence thereafter. If the default is one which is not susceptible of cure by the Mortgagee within said sixty (60) day period because the Mortgagee is not in possession of the Building or property, such sixty (60) day period shall be extended to include time needed to obtain possession of the Premises by the Mortgagee by power of sale or a judicial foreclosure or other legal means, provided that such avenues are pursued with due diligence.

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