HomeMy WebLinkAbout1993 - Non-Disturbance Attornment and Subordination Agreement - Sun Life Assurance Company / Loyd Glover - 9302191609After recording return to:
David N. Lombard
Schwabe, Williamson, Ferguson Burdell
1420 Fifth Avenue, Suite 3400
Seattle. Washington 9RI01 -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 the 13th day
of January, 1993, is between LOYD GLOVER "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 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 i/ L. 1993, and recorded in
King Count Washington, on 41X;- 1993, under Recording
No. 2 /1y' (Tenant authorizes Beneficiary or the escrow
agent to fill in the date and recording information).
PRELIMINARY STATEMENT
C'` Tenant has executed a Lease (the "Lease with Hallwood
Real Estate Investors Fund X1r: dated October 24, 1991 for a portion
of the Premises. Beneficiary will hold the Deed of Trust described
above on the Premises. Tenant and Beneficiary desire hereby to
establish certain rights, safeguards, obligations and priorities
O with respect to their respective interests in the Premises by means
C; of the following non disturbance, attornment 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:
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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 thereby.
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b. In the evert that the Beneficiary or any other
person acqu.i�7es 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 axercise 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 a; 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 Beneficiary's prior written
consent; or
j -z (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 Premises.
ti 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.
J. The Lease shall be subject and subordinate to the
lien of the Deed of Trust and to at1 terms, conditions and
1 provisions thereof, to all advances made or to be made thereunder,
and to any renowals, extensions, modifications or replacements
thereof.
I 4, The foregoing provisions ;hall be self operative and
d l effective without the _recution of any further instruments on the
part of any party hereto. However, Tenant agrees to execute and
deliver to the Beneficiary or co any person to whom Tenant herein
agrees to attorn such other instruments as either shall request in
order to effectuate said provisions.
S. 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
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Agreement to be fully executed effective the day and year first
above written.
TENANT:
LOYDIJrLOVER`
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BENEFICIARY:
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SUN LIFE ASSURANCE COMPANY OF CANADA
(U.S.), a Delaware corporation
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Its:
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STATE OF WASHINGTON
ss.
COUNTY OF KING
I certify that I have satisfactory evidence that the a
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 LOYD GLOVER, 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
1993.
Notary Public Yn and�/for the State j
01 Of Washington, residing at,(Av,� 3
h rsapIAM My commission expirei C)
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COMMONWEALTH OF KASSACHUSET7S
COUNTY OF NORFOLK
State of Messachusetts
County of Norfolk
On this 17th day of 199,' before me appeared
Nargarct Sears Yead, to me known to be the Senior Associate Counsel of the Sun I.ife j
Assurance Companv of Canada, duly authorized to execute the annexed instrument, on
behalf of Sun Life Assurance Company of Canada and acknowledged the sAid
instrument to be the free and,•oluntary act and deed of said corporation, for the uses
and purposes therein mention,e'6 o arh stated that they were authorized to
execute said instrument, an'd t! sliml affixed is the corporate seal of said
corporation.
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v '�i'e*t my hand and v
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1N �-"ITNESS WHE v a ffixed my official seal the
Div and Yea first (writ
Denise A. Arnold, Notary eut7lic
My commission expires: August 6, 1993
Notary Public in and for the
Commonwealth of Massachusetts,
residing at
MY commission expires:
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EXHIBIT A
PARCEL A -1:
ALL OF LOTS 1. 2 AND 3 OF ANDOVER INDUSTRIAL PARK NO. S. AS PER PLAT RECORDED
IN VOLUME 83 OF PLATS. PAGES 22 T,.'D 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 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•I2'32" EAST 339.74 FEET TO THE EAST BOUNDARY OF SAID LOT 7.
WHICH IS THE END OF SAID LIKE: P
SITUATE IN THE CITY OF TUKWILA. COUNTY OF KING. STATE OF WASHINGTON.
PARCEL A -3:
A PORTION OF THE WEST 1/2 OF SECTION 2S AND THE EAST 1/2 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;
cr'• THENCE NORTH 88 °06'42" WEST ALONG THE EAST -WEST CENTERLINE OF SAID SECTION 26
J 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 -6 °46'10 AN ARC DISTANCE OF 334.90 FEET;
THENCE NORTH, 46 °33'38" EAST 188.36 FEET:
THENCE ALONG A CURVE TO THE RIGHT HAVING A RADIUS OF 410.28 FEET. THROUGH A
CEN, PJ.L A`:GLE OF 72 °16,'35 AN ARC DISTANCE OF 517.55 FEET TO AK INTERSECTION
WIT A LINE REARING SOUTH 56 °38'20" EAST:
SOUTH 56 °38'20" FAST ALONG SAID LINE A DISTANCE OF 69.93 FEET:
THENCE SOUTH 48 44'23" EAST 71.30 FEET:
T}?Lf:CE SOUTH 4; 09'27" EAST 9.91 FEET TO THE WESTERLY MARGIN OF JAMES
f CHP ISTENSr'N ROAD NO. 1479;
THENCE SOUTH 37','4'41" WEST 468.23 FELT,
TI ?EI :CE SOUTH 32 WEST 132.6,7 FEET:
THENCE NOP.TH 88 °12'32" WEST 524.50 FEET:
THENCE NORTH hl•47'28" EAST 90.6"1 FEET TO THE TF'CE POINT OF BEGINNING.
5,'7.:A THE C:71' OF' TL' }a•' :LG. CC1C.'al' OF KING. STATE OF WASHINGTON.