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Wayzata Boulevard West
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2040 Wayzata Boulevard West - 34-118-23-21-0036 - (Orono HRA)
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2040 Wayzata Blvd Land Use - Dunbar
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Senior Housing Issues Easement - File Cabinet 1
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Last modified
8/22/2023 4:55:42 PM
Creation date
10/12/2021 1:14:39 PM
Metadata
Fields
Template:
x Address Old
House Number
2040
Street Name
Wayzata
Street Type
Boulevard
Street Direction
West
Address
2040 Wayzata Boulevard West
Document Type
Land Use
PIN
3411823210036
Supplemental fields
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Updated
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(c) The rights hereunder of Holders shall be exercisable by such Holders in <br /> the order of the priority of lien or other security interest of their <br /> respective Mortgages. <br /> (d) At Tenant's expense, upon written request of Tenant, any Holder, or <br /> any prospective Holder, Landlord shall deliver to them or any of them a <br /> separate written instrument signed and acknowledged by Landlord <br /> setting forth and confirming the provisions of this Section 5.4, and <br /> acknowledging to them or any of them in writing the receipt by <br /> Landlord of any notice or instrument given, sent or delivered to <br /> Landlord pursuant to the provisions of this Section 5.4. <br /> (e) When a new lease is entered into such Holder or(if reasonably• <br /> approved by Landlord pursuant to the Development Agreement) its <br /> designee (such holder or designee the "Acquiring Holder," and the <br /> Mortgage of such Acquiring Holder the "Acquiring Holder's Leasehold <br /> Mortgage"), the liens on and estates and other interests in the <br /> Development Property or this Lease of all persons holding directly or <br /> indirectly under or through Tenant(including the Acquiring Holder's <br /> Leasehold Mortgage), other than liens, estates and interests which are <br /> subordinate to the Acquiring Holder's Leasehold Mortgage, shall <br /> immediately and without documentation continue in effect, attach to <br /> the new lease and be reinstated as to each other to the same extent, and <br /> in the same manner, order and priority, as if(i)the new lease were this <br /> Lease, (ii) this Lease had not been terminated, and (iii) the Acquiring <br /> Holder had acquired the leasehold estate under this Lease by <br /> assignment on the date the term of the new lease commences. Each <br /> lien, estate or interest which could have been extinguished by the <br /> foreclosure of the Acquiring Holder's Leasehold Mortgage shall be <br /> deemed to be subordinate to the Acquiring Holder's Leasehold <br /> Mortgage. <br /> (f) Notwithstanding any provision of this Section 5.4 apparently to the <br /> contrary, Landlord shall not be required to provide any notice to any <br /> Holder under this Section 5.4 unless such Holder has provided <br /> Landlord written notice of its existence in accordance with Section 5.2 <br /> hereof. <br /> (g) Upon request of a Holder, Landlord will enter into an agreement with <br /> such Holder confirming the provisions of this Section 5.4 for the <br /> benefit of such Holder and acknowledging the Holder's Mortgage and <br /> the assignments made therein. <br /> 5.5 Further Assurances. Landlord agrees to execute such amendments to this <br /> Lease and farther agreements as may reasonably be requested by any Holder, provided such <br /> mya <br />
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