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Reso 1998-026 to 030
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Reso 1998-026 to 030
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CM City Clerk-City Council
CM City Clerk-City Council - Document Type
Resolution
Document Date (6)
12/31/1998
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perform all obligations performable by the Leasehold Mortgagee, and upon foreclosure of <br />such Leasehold Mortgage by power of sale, judicial foreclosure or otherwise, or upon <br />acquisition of the leasehold estate by a deed, assignment or other conveyance in lieu of <br />foreclosure, the Leasehold Mortgagee may elect to sell and assign the leasehold estate hereby <br />created, subject to the terms of Article XXIII of this Lease. Except for payment of any <br />delinquent rent or other payments due hereunder and obligations reasonably susceptible of <br />cure by the Leasehold Mortgagee or any such assignee, the Leasehold Mortgagee or any such <br />assignee of the leasehold estate shall not be liable to perform the obligations imposed upon <br />Tenant by this Lease prior to the period such person or entity has ownership of said <br />leasehold estate or possession of the Premises and Improvements, or any portion thereof, <br />subject to the Leasehold Mortgage. <br />Section 24.2 Notice to and Rights of Leasehold Mortgagees <br />(a) When giving notice to Tenant with respect to any default hereunder, Landlord <br />shall, contemporaneously, serve a copy of each such notice upon any Leasehold Mortgagee <br />who shall have given Landlord a written notice specifying its name and address. When <br />giving any other notice to Tenant hereunder of a type which a Leasehold Mortgagee has <br />requested to receive in writing, Landlord shall, contemporaneously, serve a copy thereof <br />upon such requesting Leasehold Mortgagee provided it shall have also given Landlord written <br />notice specifying its name and address. In the event Tenant shall default in the performance <br />of any of the terms, covenants, agreements and conditions of this Lease on Tenant's part to <br />be performed, any Leasehold Mortgagee shall have the right, but not the obligation, to cure <br />LEASE BETWEEN CITY OF SAN LEANDRO <br />AND SAN FRANCISCO BAY CONFERENCE RESORT PAGE 82 <br />2574001\313983.8 <br />
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