Lease+subordinated+to+mortgage by trepid


									                                     Lease subordinated to mortgage.

   This agreement, made this _________ day of _________[year], between _________, a national
banking association, not personally but as trustee under the provisions of a deed or deeds in trust duly
recorded and delivered to said bank in pursuance of a trust agreement dated _________ and known as trust
number _________, of _________, designated as bank, _________ Corporation, with offices at
_________, designated as lessee, and _________ Corporation, with offices at _________, designated as

   Bank is the owner in fee of real estate in _________, and known as: _________(describe).

    Lessee is now the owner and holder of a certain lease of a portion of the premises, as by reference to the
lease will appear, made by the predecessor in interest of bank bearing the date _________.

    Creditor is about to loan to bank the sum of $_____, to be secured by a mortgage covering the premises
mentioned, bearing the date of _________, to be executed and delivered by bank to creditor, on condition
that the lease be subordinated to the mortgage.

   In consideration of the premises and to induce creditor to make the loan, bank and lessee covenant,
consent and agree, to and with creditor, that the lease shall be and it is made subject and subordinate in
each and every respect to the lien of the mortgage and any renewals.

    Bank and creditor, further agree that if at any time during the existence of the first mortgage the
working capital of the tenant (lessee) declines below the amount of $_____, it shall constitute a default by
bank in the trust deed securing the first mortgage, giving creditor the right to declare the entire loan due and
payable. Lessee consents to make this agreement provided that in no event shall it be deemed to create any
rights in creditor which would permit lessee's term created in the lease to be cancelled or lessee to be
dispossessed so long as it continues to maintain the rental payments provided by the lease nor shall creditor
have any rights against lessee as a result of any failure to maintain the minimum working capital.

   This agreement shall be binding upon and enure to the benefit of the successors and assigns, of the

In witness, etc.

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