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GROUND LEASE
City of Pleasanton
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CITY CLERK
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GROUND LEASE
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1/31/2011 2:27:29 PM
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LONG TERM AGREEMENTS
LONG TERM AGREEMENTS - DOCUMENT DATE
6/1/1988
LONG TERM AGREEMENTS - NAME
GROUND LEASE
LONG TERM AGREEMENTS - TYPE
MISC AGMT
LONG TERM AGREEMENTS - RECORD SERIES
704-06 (Long Term Agreements)
LONG TERM AGREEMENTS - DESTRUCTION DATE
PERMANENT
LONG TERM AGREEMENTS - NOTES
RIDGE VIEW COMMONS
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or a default by Lessee under this Lease. Upon such foreclosure, <br />sale or conveyance Lessor shall recognize the Mortgagee, or any <br />other foreclosure sale purchaser, as Lessee hereunder. In the <br />event a Mortgagee becomes Lessee under this Lease, such Mortgagee <br />shall be liable for the obligations of Lessee under this Lease <br />only for the period of time that such Mortgagee remains Lessee. <br />Such Mortgagee shall have the right to assign this Lease at any <br />time after becoming Lessee without any restriction otherwise <br />imposed on Lessee hereunder and shall be fully released from <br />liability under the Lease from and after the date of such <br />assignment. <br />(i) Should Lessor terminate this Lease by reason of <br />any default by Lessee hereunder, Lessor shall, upon written <br />- request by a Mortgagee given within 30 days after such <br />termination, immediately execute and deliver a new lease of the <br />Land to such Lender, or its nominee, purchaser, assignee or <br />transferee, for the reminder of the term of this Lease with the <br />same agreements, covenants and conditions ( except for any <br />requirements which have been fulfilled by Lessee prior to <br />termination) as are contained herein and with priority equal to <br />that hereof. The Mortgagee shall have first promptly cured any <br />defaults of Lessee under the terms and conditions for such <br />cure(s) by Mortgagee provided in this Section 21. The <br />Mortgagee's right to possession of the Land under the new lease <br />shall commence only upon Lessee's vacating of the Land. Upon <br />execution and delivery of such new lease, Lessor shall take such <br />action as shall be necessary to cancel and discharge this Lease <br />and to remove Lessee named herein from the Land. All Lessor's <br />expenses incurred under this subparagraph (i) shall be paid by <br />the new Lessee as such expenses are incurred. <br />(j) Lessor and Lessee will cooperate in including in <br />this Lease by suitable amendment from time to time any provision <br />which may reasonably be necessary to implement the provisions of <br />this Section 21. Such amendment, however, shall not in any way <br />C:GDLEASE.EHI -33- <br />
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