HomeMy WebLinkAbout1993 - Non-Disturbance Attornment and Subordination Agreement - Sun Life Assurance Company / Foarwards Inc - 9302191654After recording return to:
David N. Lombard
Schwabe, Williamson, Ferguson 'durdell
1420 Fifth Avenue, Suite 3400
Seattle. Washinaton 98101 -2339
(The above space is reserved for the recorder's office)
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NON DISTURBANCE, ATTORNMENT AND SUBORDINATION, AGREEMENT
THIS AGREEMENT, dated for reference purposes thel3tli day'
of January, 1993, is between FOarwards, 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 incorpgrated herein
(the "Premises and to be recorded in King County, WasTfington to
encumber the Premises, dated 1993, and recorded in
King County, Washin t n, on 1993, under Recording
No. 9, f� /s (Tenant authorizes Beneficiary or the escrow
agent to fill in the date and recording information)
PRELIMINARY STATEMENT
Tenant's predecessor has executed a Lease (the "Lease
Ln with Equitec Real Estate Investors Fund XVI dated August 31, 1990
v0 for a portion of the Premises, which Lease has assigned to Tenant
by Assignment of Lease dated July 1, 1991. Beneficiary will hold
the Deed of Trust described above on the Premises. Tenant and
Beneficiary desire hereby to establish certain rights, safeguards,
7 obligations and priorities with respect to their respective
interests in the Premises by means of the following non
disturbance, attar ment and subordination agreement.
NOW THEREFORE, the parties hereto covenant and agree as
follows:
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 cha 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 title to the Premises pursuant to the exercise of
any remedy provided fo% in the Deed of Trust or by means of a deed
in lieu of foreclosures 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 ;c:rson 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
(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
(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 Benefi.'iary's prior written
consent; or
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(6) bound by any provision in the Lease which
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obligates Landlord to erect or complete any building or to perform
any construction work or to make any improvements to the Premises..
2. Tenant agrees with Beneficiary that Tenant will not
voluntarily subordinate the Lease to any other lien or encumbrance
without Beneficiary's prior written consent.
3. The Lease shall be subject and subordinate to the
lien of the Deed of Trust and to .all terms, conditions and
provisions thereof, to all advances mac! or to be made thereunder,
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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 execution of any further instruments on the
part of any party hereto. Hown_ver, Tenant agrees to execute and
deliver to the Beneficiary or to any person to whom Tenant herein
agrees to attorn such other instruments as either shall request in
order to effectuate said provisions.
5. This Agreement may not be modified other than by an
agreement in writing sic;ned 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 -:;signs.
IN WITNESS WHEREOF, the parties hereto have caused this
Agreement to be fully executed effective the day and year first
3 above written.
TENANT:
FOarwards, Inc.
Its: V /Tl' w tt
By:
Its:
BENEFIC A
SUN LIFE ASSURANCE COMPANY OF CANADA
Lrj (U.S.), a.,Delaware corporation
1z
Its:
By:
I Its:
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STATE OF WASHINGTON j
ss.
COUNTY OF KING
I certify that T 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 day of ._�1 1993, before me
personally appeared -and
to me known to be the
/P and
respectively, of Foarwards, Inc., the corporation that executed the
within and foregoing .instrument, 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
and that the seal affixed, if any, is the corporate seal of said
corporation.
WITNESS my hand and official seal hereto affixed the day
and year first above written.
R t Notai u ic in and for the State
QS 11� of Washingt residing at
FX My cammis ion expires:
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COMMONWEALTH OF MASSACHUSETTS
COUNTY OF NORFOLK ss•
State of Massachusetts
County of Norfolk
On this 17t day of Fe,bruarv, 1993 before me appeared
Margaret Sears 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, on
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 on oath stated that they were authorized to
execute said instrument, and that tye seal affixed is the corporate seal of said
corporation.
IN WITNESS W I tom. f, reunto set my hand and affixed my official seal the
da a d year first written above.
Denise Arroid, NotSry :�eb
My commission expires: August 6, 1993-
Notary Public in and for the
Co monwealth of Massachusetts,
My commission expires:
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PARCEL A -I:
ALL OF LOTS 1. 2 AND 3 OF ANDOVER INDUSTRIAL PARR-NO.' `3. AS PER PLAT RECORDED
IN VOLUME. 83 OF PLATS. PAGES 22 AIND 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 NJRTREF,;TERLY 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 TRUE POINT OF BEGINNING OF SAID LINE:
THENCE SOUTH 88 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
PARCEL A -3:
A PORTIO:. OF Tilt MIST 1/2 OF SECTIO`i 25 AND THE EAST 1/2 OF SECTION 26. ALL IN
TOW::SIIIP 23 NORTH. RANGE 4 EAST W.H. DESCRIBED AS FOLLOWS:
BEGINNING A- THE EAST 1/4 CORNER OF SAID SECTION 26:
TIFENCE NORTA RA'06'42" WEST ALONG THE EAST -WEST CENTERLINE OF SAID SECTION 26
A DISTANCE G: I05.84 FEET TO THE TRUE POINT OF BEGINNING:
THENCE NORTH 01'47'28" EAST 2.45 FEET TO A POINT OF CURVATURE:
J THENCE ALONG A CURVE TO THE RIGHT HAVING A RADIUS OF 410.28 FEET. THROUGH A
CF.NTLAF. ANC-E OF 46'46'.10 AN ARC DISTANCE OF 334.90 FEET:
THENCE NCF 4P "3'3u" EAST 188.36 FEET;
l,LO} :G A CURVE TO THE RIGHT HAVING A RADIUS OF 410.28 FEET. THROUGH A
CFNTRAL ANS:.F. OF 72'16'35 AN ARC DISTANCE OF 517.55 FEET TO AN INTERSECTION
WITH A LI1:E BEARING SOUTH 5G °38'20" EAST:
THENCE SOUTH 56'38'20" EAST ALONG SAID LINE A DISTANCE OF 69.93 FEET:
THENCE SOU711 48'44'23" EAST 71.30 FEET:
THENCE SOUTH 45'02'27" EAST 9.97 FEET TO THE WESTERLY MARGIN* OF JAMES
CHRISTENSEN ROAD NO 1479:
THENCE SOU711 37'54'41" WEST 468.23 FFI :T.
THENCE S01:TH 32'39'25 WEST 132.67 FCI:T:
TIiFSXF. ;OAT I1 RR' 12' 32" WISST 524.50 FFF,T:
111F1;CE N RTH 01'47'2A" FAST 90.6r, FEET TO THE TRUE POINT OF REGINNING:
SITUATE ;N THF. CIT'i OF TUKWILA. Cnt:1;T} OF KING. STATE. OI' WAS111I:GTON.