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Home My WebLink About1993 - Non-Disturbance Attornment and Subordination Agreement - Sun Life Assurance Company / Albi Imports Limited - 9302191621After recording return to: David N. Lombard Schwabe, Williamson, Fcrguson Burdell 1420 Fifth Avenue, Sui'ce 3400 Seattle. Washington 9 -2339 (The above space is reserved for the recorder's office) NON DISTURBANCE, ATTORNM£NT AND SUBORDINATION AGREEMENT 1 THIS AGREEMENT, dated for reference purposes the tom, day of January, 1993, is between ALBI IMPORTS LIMITED, A WASHINGTON CORPORATION "Tenant and SUN LIFE ASSURANCE COMPANY OF CANADA J (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 Reai'Estate Investors Fund XVI, a Delaware general partnership, or its successor (the holder of the Landlord's interest in the Lease described below is herein called the "Lan.dlord as owner of the real property described in Exhibit A attached hereto and by this reference •I L incorporated herein (the "Premises and to be recorded in King County, Washington to encumber the Premises, dated 1993, and recorded in King Cou ty, Washington, on 1993, under Recording No. /%C (Tenant 'authorizes Beneficiary or the escrow agent to fill in the date and recording information). PRELIMINARY STATEMENT Tenant has executed a Lease (the "Lease with Hallwood '1 Real Estate Investors Fund XVI dated May 13, 1992 for a portion of the Premises. Beneficiary will hold the Deed of Trust described G, above on the Premises. Tenant and Beneficiary desire hereby to establish certain rights, safeguards, obligations and priorities J with respect to their respective interests in the Premises by means of the following non disturbance, attornment and subordination J� 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 affected or disturbed by the Beneficiary in the exercise of any of its rights under the Deed of Trust or the Note secured ther =by. nvv +rav:uu:vxH t +i� FRED FOR KF.CcnKh n tit•C;$T OF 7RANSA.iiF.Rw.% TIT1 i ��I It CO. zzn ItP1}I AN i vx C 10A law Rr,11Xt1 1_ WA 4s(v)a 4 b. In the event that the Beneficiary or any other J 7 J person acquires title to the Premises pursuant to the exercise of any remedy provided for in the Deed of T.*ust or by means of a deed in lieu of foreclosure thereof, the Lease shall not be terminated a 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 T the Deed of Trust, or otherwise, shalt 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 =a purchase the Premises at a foreclosure sale, as its new landlord, and the Lease shall continue in full force and effect as a direst 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 o_ deficiencies which the Tenant might be entitled to assert against the present Landlord; or •0. (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 (6) bound by any provision in the Lease which obligates Landlord to erect or complete any building or to perform J 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 ('�s91s)9Y✓bNl /SM 33 it 2 I f r part of any party herr.to. 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 proviCions. 5. part of any party herr.to. 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 proviCions. 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 hereto have caused this Agreement to be fully executed effective the day and year first above written. TENANT: ALBI IMPORTS LIMITED, A WASHINGTON CORPORATION j/ By: Its: I ZL- c<... d By: Its: BENEFICIARY: 1 SUN LIFE ASSURANCE COMPANY OF CANADA (U.S.), a Delaware corporation N B y Its V� 1- By: Its: I (79591:1159/lI/ryNI 150175.11 STATE OF WASHINGTON ss. COUNTY OF KING 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 Vt day of January 1993, before me personally appeared Leo HI bo and i,, a-Rd is me known to be the and scuenr respectively, of ALBI IMPORTS LIMITED, A WAZIIINGTON CORPORATION, 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. (/474lrR395Grt/.vIJ70f77 II 4 Notary Pubb.", for the 6tz�ccPr, -at �4fw.tbi[c, ASPHAK J. DADA p�`�.•• Barnster and Solicitor 4 40 4 800 Kingsway Burnaby, B.C. V51-1 4J2 Y E m Ph 433 3300 :'t o J e q. C` CV C`7 U` (/474lrR395Grt/.vIJ70f77 II 4 COMMONWEALTH OF MASSACHU;ETTS COUNTY OF NORFOLK I Certify that I know State of uassachusetts County of Norfolk On this 17th day of February, 1993 before me appeared Margaret Sears :lead, 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 >oltihtsry act and deed of said corporation, for the uses and purposes therein mentlo t3 ;ah,�.oh:oarh stated that they were authorized to execute said instrument;; �ac the''gea�l affixed is the corporate seal of said :.F corporation. '.;�f it/' IN W1;NESS rHE3E0 r 27ir et my hand and affixed my official seai the d \a�y and Lear f st w 'tre�'� Denise A. Arnold, Notary Pub2Tc `:L commission expires: August 6, 1993 r CV n� v� Notary Public in and for the Commonwealth of Massachusetts, residing at My commission expires: V y i �S k t J r rrss�+r�a�NnntiT:sa» rr 5 I I:XII i I:7'P i PARCEL A -I: ALL OF LOTS 1. 2 AND 3 OF ANDOVER INDUSTRIAL PARK NO. S. AS PER PLAT RECORDED IN VOLUME 83 OF PLATS, PAGES 22 AND 23. RECORDS OF KING COUNTY; SITUATE IN THE CITY OF TUKWILA. COUNTY OF KING. STATE OF WASHINGTON. PARCEL A -2: 1 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 K)iG 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 NORTHEAS7ERLY ALONG THE CLn:c 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 LIKE; 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 WEST 1/2 OF SECTION 25 AND THE EAST 112 OF SECTION 26, ALL IN TOWNSHIP 23 NORTH. RANGE 4 EAST W.H. DESCRIBED AS FOLLOWS: BEGINNING AT THE EAST 1/4 CORNER OF SAID SECTION 26: THENCE NORTH 88 °06'42" WEST ALONG THE EAST -WEST CENTERLINE OF SAID SECTION 26 C^1 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 RAVING A RADIUS OF 410.28 FEET. THROUGH A 7 J CE`.7R.AL ANGLE OF 4G °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 RAVING A RADIUS OF 410.28 FEET. THROUGH A LT, CEN7R,'.L e.'GLE OF 72'16'35 AN ARC DISTANCE OF 517.55 FEET TO AN INTERSECTION WITH A LINE HEARING 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 SO! 'TH 45 °09'27" EAST 9.91 FEET TO THE WESTERLY MARGIN OF JAMES CP.PISTENSEN ROAD NO. 1479: THENCI: SO:::1: 37 °54'41" WEST 468.23 FEET THENCE SOI'TH 32 °39'25" WEST 132.67 FEET: THr'<CF. NORTII P8 °12'32" WEST 524.50 FEET: TH7 :!:CT: NORTH 01'47'2P." EAST 90.66 FEET TO THE TRUE POINT OF BEGINNING: l' ;7:!.T! IN THE CIT'i OF 'rVY.WIL:,. COUNTY OF KING. STATE OF WASHINGTON.