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6.B.(1) Waiver and Consent to Mortage for KeyBank Plaza
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6.B.(1) Waiver and Consent to Mortage for KeyBank Plaza
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10/1/2010 12:30:24 PM
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Section 3. Defaults and Termination of Lease. Notwithstanding any <br />provisions of the Lease, SBRC will not terminate the Lease or cause or permit the <br />Lease to be terminated (other than upon expiration of the scheduled term thereof) by <br />reason of any breach by Borrower of any of the terms or provisions of the Lease and/or <br />any obligations with respect thereto unless: <br />(a) SBRC gives notice of such breach or other cause for <br />termination to Centier, which notice states that Centier will have the right <br />to cure such breach or other cause for termination; and <br />(b) Centier (or Borrower) fails to cure such breach or other <br />cause for termination within thirty (30) days after such notice is given, or, if <br />such breach or other cause for termination is not of a nature that can <br />reasonable be cured within thirty (30) days, Centier (or Borrower) does not <br />commence to cure such matter within thirty (30) days and thereafter <br />diligently pursue such cure. <br />It is expressly understood and agreed that Centier will not be obligated to cure any <br />breach or otherwise take any action with respect to the Lease or the Leased Premises <br />at any time. <br />Section 4. Amendment and Termination of Lease. SBRC and Borrower <br />expressly agree that the Lease will not be amended, modified or terminated without the <br />prior written consent of Centier, which consent may be withheld by Centier in its <br />discretion. <br />Section 5. Successor Tenant. SBRC expressly agrees that, upon any <br />foreclosure with respect to the Mortgage, and/or upon any transfer in lien of foreclosure <br />with respect to the Mortgage, Centier or any other applicable grantee will succeed to all <br />rights of Borrower under and with respect to the Lease, including but not limited to the <br />option to purchase the Leased Premises provided in paragraph 8 of the Lease and the <br />reversion right provided in paragraph 11 of the Lease. Notwithstanding the foregoing, <br />upon any such succession to the rights of the tenant under the Lease, the successor <br />tenant will succeed to all obligations of the tenant under the Lease. <br />Section 6. Rights of Centier. All rights of Centier under and with respect to <br />this Consent will pass to the successors and assigns of Centier. All references herein <br />to "Centier" will be deemed to include the successors and assigns of Centier. <br />Upon full and final payment of all debts and obligations secured by the <br />Mortgage, all rights of Centier under this Consent will terminate. <br />Section 7. Status of Lease. SBRC and Borrower acknowledge and agree <br />that, to the extent that the terms of this Consent conflict with the terms of the Lease, the <br />3 <br />
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