Fillable Commercial Lease Contract - Triple Net (Page 8 of 9) in pdf

29.

REAL ESTATE COMMISSION. Upon execution of this lease by both Landlord and

Tenant, Landlord shall pay a real estate commission to

(“Landlord's Broker"),

in the amount of

(

%) percent, and Landlord shall pay a real estate commission

to ____________________ (“Tenant’s Broker) of __________ (______%) percent of the total rent

payments in accordance with schedule outlined in Section 4. The parties hereto acknowledge that

this provision is intended for the benefit of said named real estate Brokers, and may be enforced by

them as third party beneficiaries hereto. This provision shall bind successors and assigns of the

parties hereto and may not be amended without written consent of said Broker.

30.

NOTICES. Any notice hereunder shall be sufficient if sent by certified mail, addressed to

Tenant at the Premises, and to Landlord where rent is payable.

31.

SUBORDINATION OF LEASE TO MORTGAGES. This Lease shall be subject and

subordinate at all times to the lien of existing mortgages and of mortgages which hereafter may be

made a lien on the Premises; provided, however, that with regard to any pledge or mortgage

executed by Landlord, Landlord shall use its best efforts to provide to Tenant a nondisturbance

agreement from any mortgagee or other lien holder of Landlord's interest in the premises. Such

nondisturbance agreement shall be in form and content reasonably acceptable to Tenant and

Landlord's mortgagee or other lien holder, together with a representation that the Landlord is not in

default of any of the terms of any such mortgage or security agreement as of the date thereof.

Although no instrument or act on the part of the Tenant shall be necessary to effectuate such

subordination, the Tenant will nevertheless execute and deliver such further instruments

subordinating this Lease to the lien of any such mortgages as may be desired by the mortgagee.

The Tenant hereby irrevocably appoints the Landlord as Tenant's attorney-in-fact to execute and

deliver any such instrument for the Tenant. Provided, however, and notwithstanding the foregoing

provisions hereof, upon foreclosure of the mortgage with the mortgagee succeeding to the rights of

the Landlord, the Tenant shall, at the option of said mortgagee, be bound to the mortgagee under all

of the terms of the Lease for the balance of the term hereof remaining with the same force and

effect as if the mortgagee were the Landlord under the Lease, and the Tenant hereby attorns to the

mortgagee as its Landlord, such attornment to be effective and self-operative if the mortgagee so

elects. In no event, however, shall the mortgagee be liable for any act or omission of any prior

Landlord, be subject to any offsets or defenses which Tenant might have against any prior

Landlord, or be bound by any rent or additional rent which the Tenant might have paid to any prior

Landlord for more than the current month.

32.

SUCCESSORS. The provisions, covenants and conditions of this Lease shall bind and

inure to the benefit of the legal representatives, heirs, successors and assigns of each of the parties

hereto, except that no assignment or subletting by Tenant without the written consent of Landlord

shall vest any rights in the assignee or subtenant of Tenant.

33.

QUIET POSSESSION. Landlord agrees, so long as Tenant fully complies with all of the

terms, covenants and conditions herein contained on Tenant's part to be kept and performed, Tenant

shall and may peaceably and quietly have, hold and enjoy the Premises for the Term aforesaid, it

being expressly understood and agreed that the aforesaid covenant of quiet enjoyment shall be

binding upon Landlord, its heirs, successors or assigns, but only during such party's ownership of

the Premises. Landlord and Tenant further covenant and represent that each has full right, title,

power and authority to make, execute and deliver this Lease.

Commercial Triple Net Lease 2010

Page 8 of 9

Commercial Lease Contract - Triple Net Page 8

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