HomeMy WebLinkAbout1993 - Non-Disturbance Attornment and Subordination Agreement - Sun Life Assurance Company / Precision Engraving - 9302191652After recording return to:
David N. Lombard
Schwabe, Williamson, Ferguson &_BurJdll
1420 Fifth Avenue, Suite 3400
Seattle. Washington 98101 -2339
(The above space is reserved for the recorder's office)
C� NON DISTURBANCE, ATTORNMENT AND SUBORDINATION AGREEMENT
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THIS AGREEMENT, dated for reference purposes the 15th day
of January, 1993, is between PRECISION ENGRAVING "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 1993, and recorded in
King County, Washington, on =Y /d 1993, under Recording
No. /�,L^; (Tenant authorizes Beneficiary or the escrow
agent to fill in the date and recording information).
PRELTMTNARY STATFMFNT
Tenant has executed a Lease (the "Lease dated February
21, 1990, and as subsequently amended June 14, 1990 and April 14,
1992 for a portion of the Premises. Beneficiary will hold the Deed
of Tr- described above on the Premises. Tenant and Beneficiary
desire hereby to establish certain rights, safeguards, obligations
and priorities with respect to their respective interests i6 the
Pre -_ses by means of the following non disturbance, attornment and
subordination agreement.
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NOW THEREFORE, the parties hereto covenant and agree as
follo «s:
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
prenises and Tenant's rights arising out of the Lease shall not be
affected or disturbed by the Beneficiary in the exercise of any of
its rights under the Deed of Trust or the Note secured thereby.
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b. In the event that the Beneficiary or any other
person acquires title 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 for ch 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 c3g 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 Beneficiary's pr3pr written
consent; or
(6) bound by any provision in the Lease which
n 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 made or to be made thereunder,
and to any renewals, extensions, modifications or replacements
thereof.
4. The foregoing provisions shall be self operative and
effective without the execution of any further instruments on the
4. The foregoing prov:.sinns shall be self operative and
effective without the execution of any further instruments on the
part of any party hereto. However, 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 signed 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 ret have caused thiE
Agreement to be fully executed effectiv the d y and year first
above written.
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BENEFICIARY:
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SUN
LIFE
ASSURANCE COMPANY OF CANADA
(U.S.), a
Delaware corporation
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STATE OF WASHINGTON
ss.
COUNTY OF KING
I certify that I have satisfactory evidence that the
person appearing before me and makinc this acknowledgment is the
person whose true signature appears un this document.
On this day personally appeared before me GRANT
PELTEKIAN, to me known to be the individual described in and who
executed the within and foregoing instrument, and acknowledged that
he signed the same as his free and voluntary act and deed, for the
uses and purposes therein mentioned.
GIVEN under my hand and official seal this day of
7.i• ),ii; tir:i 1993.
Notary Public in' and for the. State
Of Washington, residing at
My commission expires: A
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COMMONWEALTH OF MASSACHUSETTS
COUNTY OF NORFOLK SS.
State of Massachusetts
County of Norfolk
On this 17th day of February, 1993 before me appeared
Margarct Sears Mead, to me known to be the Senior Associate Counsel of th. Sun Life
Assurance Company of Canada, duly authorized to exec:'.e the annexed instrument,'on
behalf of Sun Life Assurance Company of Canada (U.S.), and acknowledg<d the said
instrument to be the free and voluntary act and deed of said corporation, for the uses
and purposes therein mentioned, and ld?r�ooth stated that they were authorized to
execute said instrument, and that ttl- -9'La�ffixed is the corporate seal of said
corporation.
IN WITNESS WHEREOF I h h'e.r 4 u n t o r jq hand and affixed my official seal the
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dg vear first wri;te above
Denise A. Arnold, Notary Public
My commission expires: August 6, 1993
..Notary Public in and for the
Commonwealth of Massachusetts,
residinq at
M y commission expires:
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PARCEL A -1:
ALL OF LOTS 2 AND 3 OF ANYDOVER INDUSTRIAL PARK N0. S. AS PER PLAT RECORDED
IN VOLUME 83 OF PLATS. PAGES 22 AND 23. RECORDS OF KING COUNTY:
S!TL'ATE 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. S. 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 TRUE POINT OF BEGINNING OF SAID LINE:
THENCE SOUTH 88 °12'32" EAST 339.74 FEET TO THE EAST BOUNDARY OF SAID LOT 7.
WHICH 15 THE END OF SAID LINE: V
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SITUATE IN THE CITY OF TUKWILA, COUNTY OF KING. STATE OF WASHINGTON.
PARCEL A -3:
PORT'C.' CF THE WEST 1/2 OF SECTION 25 AND THE EAST 1/2 OF SECTION 26. ALL IN
TO'VNSHIP 22 NORTH. RANGE 4 EAST W.M. DESCRIBED AS FOLLOWS:
BEGINNING AT THE EAST 1/4 CORNER OF SAID SECTION 26:
THENCE NOR ?H 88 °06'42" WEST ALONG THE EAST -WEST CENTERLINE OF SAID SECTION 26
A DISTANCE OF 105.84 FEET TO THE TRUE POINT OF BEGINNING:
T':E`:CF NORTH 01 °47'28" EAST 2.45 FEET TO A POINT OF CURVATURE:
THENCE ALONG A CURVE TO THE RIGHT HAVING A RADIUS OF 410.28 FEET. THROUGH A
CENTRAL ANGLE OF 4G'46 AN ARC DISTA.NC°. OF 334.90 FEET:
T1'ENCE NORTH 48'32'38" EAST 188.36 FEET:
TN.ESCE ALCNG A CURVE TO THE RIGHT HAVING A RADIUS OF 410.28 FEET. THROUGH A
CENTRAL ANGLE OF 72'16'35 Al ARC DISTANCE OF 517.55 FEE. TO AN INTERSECTION
WITH A LINE SOUTH 56'38'20" EAST:
THENCE SOUTH 56' 2P'20" EAST ALONG SAID LINE A DISTANCE OF 69.93 FEET:
THENCE SO TH 48'44'23"' EAST 71.30 FEET:
THEN', S .H 45'C9'27" EAST 9.91 FEET TO THE W6:STERLY MARGIN OF JAMES
CHP.!.....NS ROAD N. 1479:
37','-:*,] WEST 4GR.23 F::F.T.
THENCE SOUTH 32'39'25" WEST 132.67 FEET:
THE.': N-'CITH P,R'12'32" WEST 524..'.0 FEET:
TL'i:.':':!. 01'47'2R" EAST 90.5f, EF.!;T TO THE TRUE POINT OF BEGINNING:
-F ,Ti OF TUKWILA, f nt:`:7, OF FIND. STATE OF WASHINGTON.