HomeMy Public PortalAbout2022.12.01 Landlord Consent to Assignment Idaho First Bank LANDLORD CONSENT
1. No Interest in Collateral. Landlord hereby acknowledges that Landlord does not have a
lien on or in the Collateral, as that term is defined in the Leasehold Deed of Trust, Assignment of
Rents, Security Agreement and Fixture Filing, dated November 21, 2022, entered into between
Mile High Marina, LLC and Idaho First Bank, a copy of which the Landlord has received and
reviewed.
2. No Interests in Premises. Landlord hereby represents that it has not placed any
encumbrances or liens upon the Premises, and that to it's the best of its knowledge, there are no
interests, encumbrances, liens, or leases upon the Premises or Lease, other than those of Mile
High Marina, LLC.
3. Consent.
(a) Security Interest in Collateral. The Landlord hereby consents to the granting by
Lessee of a security interest in all of the Collateral in favor of Lender. Notwithstanding any
provision in the Lease, Landlord agrees that the Collateral, whether or not affixed to or located or
installed on the Premises, constitutes and shall remain personal property notwithstanding the
manner of its annexation to the Premises, its adaptability to the uses and purposes for which the
Premises are used, or the intentions of the party making the annexation.
(b) Collateral Assignment of Lease. Notwithstanding any provision in the Lease,
Landlord consents to and approves the assignment of the Lease by Lessee to Lender as set forth
in this Assignment, as collateral security for the due performance and observance of each and
every agreement, covenant and obligation of the Lessee under the Credit Documents. Landlord
further agrees and confirms that (i) such assignment is fully effective against Landlord under the
terms of the Lease, (ii) no such assignment shall constitute a breach of or default under the
Lease, and (iii)notwithstanding such assignment, each provision of the Lease shall remain in full
force and effect.
(c) Notice of Default. Landlord agrees to send Lender in writing a copy of any notice
of default or termination of the Lease and to allow Lender no less than sixty (60) days from the
date of delivery of such notice in order to cure any such default.
(d) Non-Disturbance of Lender or its Successors and Assigns as Lessee.
Notwithstanding anything to the contrary contained in the Lease, in the event Lender has
exercised its rights to gain possession of the Premises pursuant to the terms of this Assignment
and has assumed Lessee's obligation under the Lease, the Landlord shall not terminate the Lease
or disturb Lender or its successor in interest as Lessee in the possession and use of the Premises
unless (a) Lessee and Lender have been provided the applicable notice and cure periods due
under any provision of the Lease or this Assignment, as applicable, and (b) Lessee, or Lender or
its successor in interest, is in default under the Lease or this Assignment, as applicable, at the
expiration of such notice and cure periods. The non-disturbance obligation set forth herein shall
apply to any periods during which the Lease remains in effect as a result of any extension or
renewal option set forth in the Lease and effected by the parties thereto in accordance with the
COLLATERAL ASSIGNMENT OF LEASE AND LANDLORD CONSENT - 7
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provisions thereof. The non-disturbance obligation set forth herein shall be effective and self-
operative without the execution of any further instruments upon Lender or its successors and
assigns succeeding to the interest of Lessee under the Lease.
(e) Non-Release of Original Tenant. This consent shall not release or relieve Mile
High from liability or responsibility to the City under the Lease.
LANDLORD: CITY OF MCCALL
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By: obert S. Giles, Mayor,City of McCall
ATTEST:
By: BessieJo agner, Mc all City Clerk
COLLATERAL ASSIGNMENT OF LEASE AND LANDLORD CONSENT - 8
09961.0142.1 5215120.2