HomeMy WebLinkAbout1993 - Non-Disturbance Attornment and Subordination Agreement - Sun Life Assurance Company / Perrigo dba PH Factor - 9302191647K=u.
After recording return to:
David N. Lombard
Schwabe, Williamson, Ferguson Burdell
1420 Fifth Avenue, Suite 3400
Seattle. Washingtor 98101 -2339
(The above space is reserved for the recorder's office)
NON DISTURBANCE, ATTORNMENT AND SUBORDINATION AGREEMENT
THIS AGREEMENT, dated for reference purposes the 17th day
of February, 1993, is between RICHARD R. and GLORIA A. PERRIGO dba
P.H. FACTOR "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, or its successor (the
y 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 "11
1993, and recorded in King County Washington, on
1993, under Recording No. (Tenant authorizes
Beneficiary or the escrow agent to fill in the date and recording
information).
PRELIMINARY STATEMENT
Tenant has executed a Lease (the "Lease dated December
27, 1988 and an Amendment to Lease dated January 9, 1992 for a
portion of the Premises. Beneficiary will hold the Deed of Trust
described above on the Premises. Tenant and Beneficiary desire
v hereby to establish certain rights, safeguards„ obligations and
j priorities with respect to their respective interests in the
L; Premises by means of the following non disturbance, attornment and
subordination agreement.
NOW THEREFORE, the parties hereto covenant and agree as
follows:
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x 1. Provided that the Lease is in full force and effect
and there are no defaults thereunder, then:
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a. The right of possession of Tenant to the leased
i premises 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 securpH 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
i 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
i
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 Beneficiary's prior written
consent; or
r� (6) bound by any provision in the Lease which
obligates Landlord to erect or complete any building or to perform
any construction work or to make any improvements to the Pre A ses.
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.
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3. The Lease shall be subject and subordinate to the
f lien of the Deed of Trust and to all terms, conditions and
J provisions thereof, to all @dvances made or to be made thereunder,
0 and to any renewals, extensions, modifications or replacements
t thereof.
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4. The foregoing provisions shall be self operative and
effective without the execution of any further instruments on the
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part of any party hereto. However, ".'enant 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 intertst.
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 causer; this
Agreement to be fully executed effective the day and year first
above written.
TENANT:
RICHARD R! PERRIGO; dba FACTOR
/GLORIA A. PERRIGO, -idba P:H:.',FACTOR
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BENEFICIARY:
SUN LIFE ASSURANCE
COMPANY OF CANADA
(U.S.), a Delaware
corporation
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By:
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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 m this acknowledgment is the
person whose true signature appears on this document.
On this day personally appeared before me GLORIA A.
PERRIGO, dba P.H. FACTOR, to me known to be the individual
described in and who executed the within and foregoing instrument, t
and acknowledged that she signed the same as her free and voluntary
act and deed, for the uses and purposes therein mentioned.
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GIVcN under my hand and official seal this <i�t day of
1993. z.
Notary Public itn and for the State
Of Washington, residing at /�LAZ� t,)
My commission expires:
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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 making this acknowledgment is the
person whose true signature appears on this document.
On this day personally appeared before me RICHARD R.
PERRIGO, dba P.H. FACTOR, 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 volunt:
act and deed, for the uses and purposes therein mentioned.
GIVEN under my hand and official seal this t day of
1993.
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Notary Public in and for the State
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Of
Washington, residing at�i� ///ILL
Of Washin
My commission expires:
77501 /8M(A/0W V 49181.1)
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COMMONWEALTH OF XXSSACHUSETTS
COUNTY OF NORFOLK
State of Massachusetts
County of Norfolk
On this 17th day of February, 1993 before me appeared
Margaret Sears Mead, to me known to be the Senior Associate Counsel of the Sur. i.ife
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; apd on 'oath stated that they were authorized to
execute said instrument, and'tliut the seat• ?affixed is the corporate seal of said
corporation. !.f
1% WITNESS WHEREOF, Hereunto set my hand and affixed my official seal the
di year first wri ten abov t
Denise A. Ainoiir, Notary Public
My commission expires: August 5, 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
IN VOLUME 83 OF PLATS. PAC%S 22 RIND 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 ANDDVER INDUSTRIAL PARK NO. S. AS PER PLAT
RECORDED IN VOLUME 83 OF PLATS. PAGES 22 A.N`D 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 CURE 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; I
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.
PARCEL A -3:
A PORTION OF THE NEST 1/2 OF SECTION 25 AND THE EAST 1/2 OF SECTION 26. ALL IN
TOWNSHIP 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 THE EAST -WEST CENTEP.LIXE 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 CURVE TO THE RIGHT HAVING A RADIUS OF 410.28 FEET. THROUGH A
CENTRAL ANGLE OF 46 °46'10 AN ARC DISTANCE OF 334.90 FEET;
THENCE NORTH 48 °33'38" EAST 188.36 FEET;
THENCE ALONG A CURVE TO THE RIGHT HAVING A RADIUS OF 410.28 FEET. THROUGH A
CENTRAL ANGLE OF 72 °16'35 AN ARC DISTANCE OF 517.55 FEET TO AN INTERSECTION
WITH A LINE BEARING SOUTH 56 °38'20" EAST:
THENCE SOUT1: 56 ;:8'20" EAST ALONG SAID LINE A DISTANCE OF 69.93 FEET:
THENCE SOUTIi 4P, 44' 23" EAST 71.30 FEET;
THENCE SOUTH 45*09'27" EAST 9.91 FEET TO THE W'ESTF.RLY MARGIN OF JAMES
CHRISTENSEN ROAD NO, 1479; W
THENCE SOCTit 37 54'41" WEST 468.23 FEET.
THENCE SOUTH 32'38'25" WEST 132.67 FEET:
THENCE 1:ORT)! 88 °12'32" WEST 524.50 FEET:
NORTH 01'47'28" EAST 90.66 FEET TO THE TRUE POINT OF BEGINNING:
TJIL CITY OF TUKWILA, COU'C;Y or t:ING. STATE OF WASHINGTON