HomeMy WebLinkAbout1993 - Non-Disturbance Attornment and Subordination Agreement - Sun Life Assurance Company / Minolta Business Systems Northwest - 9302191611After recording return to:
David N. Lombard
Schwabe, Williamson, Ferguson Burdell
1420 Fifth Avenue, Suite 3400
Seattle. Washington 98101 -2339
(The above space is reserved for the recorder's office)
f NON- DISTURBANCE, ATTORNMENT AND SUBORDINATION AGREEMENT
THIS AGREEMENT, dated for reference purposes the 14t), day
of January, 1993, is between MINOLTA BUSINESS SYSTEMS NORTHWEST,
INC. "Tenant and SUN LIFE ASSURANCE COMPANY OF CANADA (U.S.) a
t 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
r Investors Fund XVI, a California limited partnership), or its
�j 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 Ly this
reference incorporated herein (the "Premises and to be recorded
L. in King County, Washington to encumber the Premises, dated
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).
PRF.LIMTNARY STATEMENT
Tenant has executed a Lease (the "Lease dated August 9,
N 1990, an Amendment to Lease dated July 2, 1991 and an Amendment to
O Lease dated October 6, 1992 for a portion of the Premises.
C Beneficiary will hold the Deed of Trust described above on the
U` Premises. Tenant and Beneficiary desire hereby to establish
certain rights, safeguards, obligations and priorities with respect
to their respective interests in the Premises by means of the
following non disturbance, attornment and subordination agreement.
NOW TN_REFORE, the parties hereto covenant and agree as
:ollcws:
1. Provided that the Lease is in full force and effect
and there are no defaults thereunder, then: r
a. The riqht of possession of Tenant to the (cased
prer..ices and Tenant's rights aris> out of the Lease shall net be
1LED FOR RECORD AT RFgi'FST (It
RANSAAIERICA TrRY INSI'RAN*cF t
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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 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 terminated
or affected by said foreclosure or deed in lieu of foreclosure and r
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 '...ase
and the rights of the Tenant thereunder; and the Tenant covenants J`
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 foeth in
the Lease. However, in no event shall the Beneficiary or such
other oerson 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
(6) bound by any provision in the Lease which ti
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
volun`_aril/ subordinate the Lease to any other lien or encumbrance
..11�hout Beneficiary's prior written consent.
3. The Lcafe shall be subject and subordinate to the
lien of the Deed of Trust and to all terns, conditions and
provisions thereof, to all advances made or to be made thereunder,
and to any renewals, extensions, Modifications or replacements
_��reot. 1
4. The foregoing provisions 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.
t
5. This Agreement :nay 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
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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
MINOLTA EUSINESS SYSTEMS NORTHWEST, INC.
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By:
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By:
Its:
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BENEFICIARY:
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SUN LIFE ASSURANCE COMPANY OF CANADA
(U.S.), a Delaware corporation
By.
Its:
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CTS
By:
Its:
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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 /Lf� day of v 1993, before me
personally appeared KI ',j; fnL1 ht .J J. and to
me known to be the �l r,^ �ra�'cfa� 1 and G
respectively, of MINOLTA BUSINESS SYSTEMS NORTHWEST, 1;4C., 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.
No ary Public in and fo �i�' 3t
of Washington, residing at
My commission expires: S- s- '3 U
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COMMONWEALTH OF MASSACHUSETTS
COUNTY OF NORFOLK
I certif
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Y that I know
State of Massachusetts
County of Norfolk
On this 17th day of February, 1993 before me appeared
`jargaret 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, nn
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,•fo'r the uses
and purposes therein mentioned on oath stated that they were authorized to
execute said instrument, and' h eaI affixed is the corporate seal of said
corporation. ty,• py'r,J,.�;�•
i': WHEREOF, I; 4 .fit my head and affixed my official seal the
and +•ear first
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Uenise A. Arnold, .:o to ry Yub1i.0
c expires: August 6,' 1993
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Notary Public in and for the
C ommonwealth of Massachusetts,
residing at
My commission expires:
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E,X11II3IT A
PARCEL A -I:
ALL OF LOTS I, 2 AND 3 OF AND'JVER 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:
j:.
ALL THAT PORTION' OF LOT 7 OF ANDOVER INDUSTRIAL PARK NO. 5, AS PER PLAT
RECORDED IN VOLUME 83 OF PLATS. PAGES 22 A6'D 23, RECORDS OF KING COUNTY, LYING
I NORTH OF THE FOLLOWING DESCRIBED LINE:
BEGINNING AT THE SOUTHWEST CORNER OF SAID LOT 7:
THENCE NORTH 01'47'28" EAST. 149.78 FEET:
TiL::CE NORTHEASTERLY ALONG THE CURVE TO THE RI611T HAVING A RADIUS OF 216.31
FEET THROUGH A CENTRAL ANGLE OF 05 °21'43 AN ARC DISTANCE OF 20.25 FEET TO s
THE TRUE POINT OF BEGINNING OF SAID LINE:
THENCE SOUTH 88 °12'32" EAST 339.74 FEET TO THE EAST BOUNDAIY OF SAID LOT 7.
i WHICH IS THE END OF SAID LINE::
f
SITUATE IS THE CITY OF TUKWILA. COUNTY OF KING. STATE OF WASHINGTON.
PARCEL A
i A PORTION OF THE WEST 1/2 OF SECTION 25 A117 THE EAST 1/2 OF SECTION 2G. ALL IN
S TOW`.:SHIP 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 CENTERLINE OF SAID SECTION 26
A DISTANCE OF 105.84 FEET TO THE TRUE POINT OF BEGINNING;
THENCE ":OPTH 01 °47'28" EAST 2.4S 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: 1
i THENCE NOP.TF. 48 °33'38" EAST 188.36 FEET;
THE.': CE :.LC.':G A CURIE TO THE RIGHT HAVING A RADIUS OF 410.28 FEET. THROUGH A
CENTPAL A' :GLE OF 72 °16'35 AN ARC DISTANCE OF 517.55 FEET TO AN INTERSECTION
WITH A LINE REARING SOUTH 5G °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:
TF: SOUTH 4,°09'27" FAST 9.91 FEET TO THE WESTERLY MARGIN OF JAMES
'i CHE'IS7ENSEN POP—) NO. 1479:
',:i::Tf: 37'54'41*' WEST 46P,.23 FEET.
THEN CF SO:;T}i 32 °39'25" TEST 132.67 FEET:
HE. .:OF.T}'. Y,8° 2' 32' %T.S7 '524.50 FEET:
T If E': CE !:Oi!TH 01 °47'26:" Ff ST 90.66 FEET TO THE TRUE POINT OF BEGINNING.
..T..T. Tf:E CITY 01' COUNTY OF F:1!:G. STATE OF WASHINGTON