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6.3. SR 05-07-2007
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6.3. SR 05-07-2007
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<br />deemed to be effective, operative, made, entered into or taken in the manner and to the full extent from <br />time to time permitted by law. <br /> <br />Section 12.06. Applicable Law. This Lease shall be governed by and construed in accordance <br />with the laws of the State of Minnesota. <br /> <br />Section 12.07. Recording. Lessor, promptly upon request by Lessee, will execute and deliver, in <br />recordable form, a Memorandum of this Lease, which Lessee may cause to be duly recorded, at Lessee's <br />expense, in the real estate records of the County, in order to provide notice to the public of Lessee's <br />interest in the Project pursuant to this Lease. Lessor shall cause the Ground Lease, or a Memorandum <br />thereof, to be so recorded not later than the date of recording ofthe Memorandum of this Lease. <br /> <br />Section 12.08. SubordmatlOn. Non-Dlsturbance and Attornment Agreement. The City and <br />Lessee shall execute and deliver, in recordable form, a Subordination, Non-Disturbance and Attornment <br />Agreement, in form and substance acceptable to Lessee in its reasonable discretion, pursuant to which the <br />City shall agree, inter alia, that: this Lease shall not and does not constitute a default under the Ground <br />Lease; Lessee shall not be bound by any amendment to the Ground Lease made without Lessee's written <br />consent; Lessee shall be entitled to notice of and an opportunity to cure any breach or default by Lessor <br />under the Ground Lease; and Lessee's use and possession of the Project throughout the Lease Term shall <br />not be disturbed, notwithstanding any breach or default by Lessor under the Ground Lease, provided <br />Lessee faithfully performs its obligations under this Lease. <br /> <br />Section 12.09. Platting of Land. The parties agree and understand that, as of the date of this <br />Lease, the Land is part of a larger parcel owned by the City, and that the City, at its expense, is in the <br />process of platting such larger parcel to create (among other parcels) a parcel consisting of the Land <br />described in Exhibit A hereto. Lessee agrees to execute the plat if requested by Authority or City and to <br />cooperate in all respects with the platting process, all at no expense to Lessee. Upon recording of the plat <br />in the real estate records of the County, the parties shall execute an addendum to the Memorandum ofthis <br />Lease, substituting the platted definition ofthe Land for the definition attached as Exhibit A. Lessee shall <br />record such addendum at its expense. <br /> <br />(The remainder of this page is intentionally left blank.) <br /> <br />30 <br />
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