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Holder shall be deemed duly served when personally delivered to an officer of Holder or mailed in accordance with Section 8.1. 5.3 Performance. If Tenant fails to make any payment or perform any act required of Tenant under this Lease, then any Holder may(but shall not be obligated to) to the extent permitted under its Mortgage make such payment or perform such act with the same effect as if made or performed by Tenant. Entry by a Holder upon the Development for such purpose or partial performance of the Mortgage shall not waive or release Tenant from any obligation or default under this Lease except for an obligation or default fully performed or cured by Holder. 5.4 New Lease. (a) If(i) this Lease is rejected or disaffirmed pursuant to bankruptcy law or other law affecting creditor's rights, (ii) Holder gives written request to Landlord not later than 30 days after the effective date of such rejection or disaffirmance, (iii) Holder pays to Landlord all of Landlord's expenses (including reasonable attorneys' fees) incidental thereto, and (iv) Holder pays all Rent accrued as of the date of rejection or disaffirmance, then Landlord shall execute and deliver a new lease with Holder or its nominee, purchaser, assignee or transferee, as the case may be, for the remainder of the Term with the same terms as are contained herein except for charges and encumbrances caused or suffered by Tenant. (b) Any new lease entered into pursuant to this Section 5.4 shall be superior to all rights, liens and interest intervening between the date of this Lease and the date of such new lease. Upon the request of the new tenant, Landlord shall execute and deliver a memorandum of the new lease in recordable form so that notice of the new lease may be placed of record by the new tenant. (c) The rights hereunder of Holders shall be exercisable by such Holders in the order of the priority of lien or other security interest of their respective Mortgages. (d) At Tenant's expense, upon written request of Tenant, any Holder, or any prospective Holder, Landlord shall deliver to them or any of them a separate written instrument signed and acknowledged by Landlord setting forth and confirming the provisions of this Section 5.4, and acknowledging to them or any of them in writing the receipt by Landlord of any notice or instrument given, sent or delivered to Landlord pursuant to the provisions of this Section 5.4. -6-