HomeMy WebLinkAbout1993 - Non-Disturbance Attornment and Subordination Agreement - Sun Life Assurance Company / Wintech Inc - 93021916519302191651
After recording return to:
David N. Lombard
Schwabe, Williamson, Ferguson Burdell
1420 Fifth Avenue, Suite 3400
Seattle. Washinaton 98101 -2339
(The above space is reserved for the recorder's office)
NON DISTURBANCE, ATTORNMENT AND SUBORDINATION AGREEMENT
THIS AGREEMENT, date for reference purposes the 15tilday
of January, 1993, is between a'3 °�4- T��iiitoa ^o ^T, INC. "Tenant") and
SUN LIFE ASSURANCE COMPANY OF CANADA (U.S.) a Delaware corporation
"Beneficiary the beneficiary under a Deed of Trust, Assignment
of Rents and Security Agreement "Deed of Trust ")'to be executed by
Hallwood Real Estate Investors Fund XVI, a Delaware general
partnership (formerly Equitec Real Estate Investors Fund XVI, a
California limited partnership) or its successor (the holder of
the Landlord's interest in the Lease described below is herein
called the "Landlord as owner of the real property described in
Exhibit A attached hereto and by this reference incorporated herein
(the "Premises and to be recorded in King County, Washington to
encumber the Premises, dated //F 1993, and recorded in
King Count Washi Aton, on /�.j 1993, under Recording
No, j ("_2leG (Tenant authotizes Beneficiary or the escrow
agent to fill in the date and recording information).
PRELIMINARY STATEME`.'T
Tenant has executed a Lease (the "Lease with Equitec
Real Estate Investors Fund XVI dated February 10, 1988 and
Amendment to Lease dated August 4, 1989 for a portion of the
Beneficiary will hold the Deed of Trust described above
on the Premises. Tenant and Beneficiary desire hereby to establish
0 rights, safeguards, obligations and priorities with respect
24 o their respective interests in the Premises by means of the
ollowing non disturbance, attornment and subordination agreement,
follows: NOW THEREFORE, the parties hereto covenant and agree as
1. Provided that the Lease is in full force and effect
and there are no defaults thereunder, then:
a. The right of possession of Tenant to the leased
premises and Tenant's rights arising out of the Lease shall not be
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affected or disturbed by the Beneficiary in the exercise of any of
its rights under the Deed of Trust or the Note secured thereby.
b. In the event that the Beneficiary or any other
person acquires titir to the Premises pursuant to the exercise of
any remedy provided for in the Deed of Trust or by means of a deed
in lieu of foreclosure thereof, the Lease shall not be terminated
or affected by said foreclosure or deed, in lieu of foreclosure and
the Beneficiary hereby covenants that any sale by it of the
Premises pursuant to the exercise of any rights or remedies under
the Deed of Trust, or otherwise, shall be made subject to the Lease
and the rights of the Tenant thereunder; and the Tenant covenants
and agrees to attorn to the Beneficiary, or such person who may
purchase the Premises at a foreclosure sale, as its new landlord,
and the Lease shall continue in full force and effect as a direct
lease between Tenant and Beneficiary, or such other person, upon
all the terms, covenants, conditions and agreements set forth in
the Lease. However, in no event shall the Beneficiary or such
other person be:
(1) liable for any, act or omission of the
present Landlord; or :t
(2) subject to any offsets or deficiencies
which the Tenant might be entitled, to assert against the present
Landlord; or
(3) bound by any payment of rent or additional
rent made by the Tenant to the Landlord for more than one month in
advance; or
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(4) bound by any security deposit which Tenant
may have paid to any prior landlord unless such deposit is in an
escrow fund available to Beneficiary; or
(5) bound by any amendment to the Lease if
such amendment has not received Beneficiary's prior written
consent; or
(6) bound by any provision in the Lease which
obligates Landlord to erect or complete any building or to perform
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any construction work or to make any improvements to the Premises.
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2. Tenant agrees with Beneficiary that Tenant will not
voluntarily subordinate the ,ease to any other lien or encumbrance
without Beneficiary's prior written consent.
3. The Lease shall be subject and subordinate to the
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lien of the Deed of Trust and to all terms, conditions and
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provisions thereof, to all advances made or to be made thereunder,
and to any renewals, extensions, modifications or replacements
thereof.
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4. The foregoing prov ?.sions shall be self operative and
effective without the executic.n of any further instruments on the
part of any party hereto. However, Tenant agrees to execute and
deliver to the Beneficiary or co any person to whom Tenant herein
agrees to attorn such other instruments as either shall request in
order to effectuate said previsions.
5. This Agreem� -nt may not be modified other than by an
agreement in writing sirjned by the parties hereto or by their
respective successors in interest.
6. This Agreement shall inure to the benefit of and be
binding upon the parties hereto and their successors and assigns.
IN WITNESS WHEREOF, the parties hereto have caused this
Agreement to be fully executed effective the day and year first
above written.
TENANT:
W 1Krr--cH wC p
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By: c-
By:
Its:
BENEFICIARY:
SUN LIFE ASSURANCE COMPA?:Y OF CANADA
a Delaware corporation
Its:
By:
Its:
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STATE OF WASHINGTON
ss.
COUNTY OF KING
N.
I certify that I know or have satisfactory evidence that
the persons appearing before me and making this acknowledgment are
the persons whose true signatures appear on this document.
On this :CI0 day of 1993, before me
personally appeared ��i V an to me
known to be the ,y and
respectively, of NC., the corporation that
executed the within n 5ng and acknowledged the
said instrument to be the free and voluntary act and deed of said
corporation, for the uses and purposes therein mentioned, and on
oath stated that they were authorized to execute said instrument
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and that the seal affixed, if any, is the corporate seal of said
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corporation.
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WITNESS my hand hereto the day
and official seal affixed
and year first above written.
E' s`
Notary Public atid for the State
of Washington, residing at
My commission expires:
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COMMONWEALTH OF MASSACHUSETTS
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COU14TY OF NORFOLK
r Certifv that
State of Massachusetts
County of Norfolk
On this 17th day of February, 1993 before me appeared
`!argaret Seacs Mead, to me known to be, the Senior Associate Counsel of the Sun Life
Assurance Company of Canada, duly authorized to execute the annexed instrument, or,
behalf of Sun Life Assurance Company of Canada (U.S.), and acknowledged the said
instrument to be the free and voluntary act and deed of said corporation, for the uses
and purposes therein mentioned, and stated that they were authorized to
execute said instrument, and char,the affixed is the corporate seal of said
corporation.
IN WITNESS WHEREOF', I hereunto eC'(my hand and affixed my official seal the
dfv'and year iirrst writ en abov
Denise A. Arnold, Notary Public
My coma,ission expires: August 6, 1993
Notary Public in and for the
Commonwealth of Massachusetts,
residing at
My commission expires:
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PARCEL A -1:
ALL OF LOTS 1. 2 AND 3 OF ANDOVER INDUSTRIAL PARK NO. 5, AS PER PLAT RECORDED
IS VOLUME 83 OF PLATS. PAGES 22 ANO 23, RECORDS OF KING COUNTY:
SITUATE IN THE CITY OF TUKWILA. COUNTY OF KING, STATE OF WASHINGTON.
PARCEL A -2:
ALL THAT PORTION OF LOT 7 OF ANDOVER INDUSTRIAL PARK NO. 5, AS PER PLAT
RECORDED IN VOLUME 83 OF PLATS, PAGES 22 AND 23. RECORDS OF KING COUNTY, LYING
NORTH OF THE FOLLOWING DESCRIBED LINE:
BEGINNING AT THE SOUTHWEST CORNER OF SAID LOT 7:
THENCE NORTH 01 °47'28" EAST. 149.78 FEET:
THENCE NORTHEASTERLY ALONG THE CURVE TO THE RIGHT HAVING A RADIUS OF 216.37
FEET THROUGH A CENTRAL ANGLE OF 05 21'43 AN ARC DISTANCE OF 20.25 FEET TO
THE TREE POINT OF BEGINNING OF SAID LINE:
THENCE SOUTH 88 °12'32" EAST 339.74 FEET TO THE EAST BOUNDARY OF SAID LOT 7,
WHICH. IS THE END OF SAID LINE:
SITUATE IN THE CITY OF TUKWILA. COUNTY OF KING. STATE OF WASHINGTON.
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PARCEL A -3:
A PORTION OF
THE WEST 1/2 OF SECTION 25 AND THE EAST 1/2 OF SECTION 26. ALL IN
TOW' 23 NORTH. RANGE 4 EAST W.M. DESCRIBED AS FOLLOWS:
BEGINNING AT
THE EAST 1/4 CORNER OF SAID SECTION 26;
THENCE NORTH
88 06'42" WEST ALONG TAE EAST -WEST CENTERLINE OF SAID SECTION 26
A DISTANCE OF 105.84 FEET TO THE TRUE POINT OF BEGINNING:
THENCE NORTH
01 47'28" EAST 2.45 FEET TO A•POINT OF CURVATURE:
THENCE ALONG
A CURE TO THE RIGHT RAVING A RADIUS OF 410.28 FEET, THROUGH A
..J
CENTRAL ANGLE
OF 4G 46'10 AN ARC DISTANCE OF 334.90 FEET:
THENCE NORTH
48 °33'38" EAST 188.36 FEET:
TY.ENCE ALO`:G
A CURVE TO THE RIGHT HAVING A RADIUS OF 410.28 FEET. THROUGH A
V
CENTRAL ANGLE
OF 72'IG'3S AS ARC DISTANCE OF 517.55 FEET TO AN INTERSECTION
J
WITH A LINE BEARING SOUTH 56 °38'20" EAST;
THENCE SOUTH.
56'38'20" EAST ALONG SAID LINE A DISTANCE OF 69.93 FEET:
THENCE SOUTH
48 °44'23" EAST 71.30 FEET:
THENCE SOUTH
45'09'27" EAST 9.91 FEET TO THE WT.STEP,LY MARGIN OF JAMES
CFR!S,T-rNSEN PROM]
NO, 1479;
TH.EN::E 50,:TH
37'54'41" WEST 468.23 FEET.
THE`-�F. SOUTH
32'39'25" WEST 132.67 FEET:
THE•; NORTH
P8'12'32" WEST 524.50 FEET:
T}!E•:fI NORTH.
0i '47'2R" EAST 90.66 FEET TO THE TRUE POINT OF BEGINNING;
1': T!I
C:TY OF TUKWILA. COUM OF K1SG. STATE OF WASHINGTON.