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8.1. SR 03-21-2016
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8.1. SR 03-21-2016
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22.6 Memorandum of Lease. Upon the execution and delivery of this Lease, but <br />subject to the conditions below, the parties hereto agree to execute and deliver to each other a <br />memorandum of lease, in recordable form, setting forth the following: <br />(a) The date of this Lease. <br />(b) The parties to this Lease. <br />(c) The Term. <br />(d) The legal description of the Premises. <br />(e) Such other matters reasonably requested by Landlord or Tenant to be stated <br />therein, as required by law. <br />Notwithstanding the foregoing, Landlord will not be obligated to execute or record a <br />Memorandum of Lease unless and until Tenant: (i) duly executes and acknowledges a <br />Termination of the Memorandum of Lease, in recordable form, duly terminating and releasing <br />the Memorandum of Lease; and (ii) deposits the Termination with a title insurance company <br />designated by Landlord pursuant to the terms of a separate Escrow Instruction Letter in a form <br />reasonably acceptable to Landlord, which requires the title company to automatically release and <br />record the Termination within two (2) business days after being advised by Landlord that the <br />Lease has been terminated or the Term has expired. <br />In addition, upon the expiration, termination or cancellation of this Lease, by any means <br />whatsoever, Landlord may unilaterally execute and record a Termination of the Memorandum of <br />the Lease, which Termination will be effective immediately upon recording. Tenant hereby <br />grants Landlord authority to unilaterally execute such Termination if the Lease has been <br />terminated or expired. <br />22.7 Survival of Provisions. If any covenant, condition, provision, term or agreement <br />of this Lease shall, to any extent, be held invalid or unenforceable, the remaining covenants, <br />conditions, provisions, terms and agreements of this Lease shall not be affected thereby, but each <br />covenant, condition, provision, term or agreement of this Lease shall be valid and in force to the <br />fullest extent permitted by law. <br />22.8 Successors and Assigns. The covenants and agreements herein contained shall <br />bind and inure to the benefit of Landlord and its successors and assigns, and Tenant and its <br />permitted successors and assigns. <br />22.9 Captions. The caption of each article of this Lease is for convenience and <br />reference only and in no way defines, limits or describes the scope or intent of such article or of <br />this Lease. <br />22.10 Relationship of Parties. This Lease does not create the relationship of principal <br />and agent, or of lender and borrower, or of debtor and creditor, or of mortgagor and mortgagee, <br />or of partnership, joint venture, or of any association or relationship between Landlord and <br />Tenant, the sole relationship between Landlord and Tenant being that of landlord and tenant. <br />36 <br />
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