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<br />hereto and agrees that Mortgagee or such successful bidder will be substituted as Lessee <br />automatically upon notice to Owner without the execution of any further instrument on the <br />part of either party to this instrument other than a written notice by Mortgagee to Owner <br />of the name of the person or entity succeeding to the lessee's leasehold interest. <br />In the event Mortgagee, its assignee or a third person shall become the substituted <br />Lessee under said lease, the consideration for the premises shall be 5% of its total gross <br />receipts from the use of the portion of the leased premises used by such party expended <br />as improvement to such leased premises. At the option of the new lessee, the <br />consideration can be paid in cash to the Owner on an annual basis within 30 days of the <br />end of each lease year. <br />4) In the event the Mortgagee is the entity succeeding to the Lessee's leasehold <br />interest, Owner agrees to not unreasonably withhold its consent to the conveyance or <br />assignment of such interest by Mortgagee to a third party providing that said third party <br />shall execute in writing an agreement to be bound by all the terms of said lease <br />agreement. <br />5) Mortgagee agrees that if it succeeds to the interest of the Lessee in said lease, <br />it shall be bound to the Owner under all the terms of said lease agreement. Mortgagee <br />agrees that any foreclosure of its deed of trust shall specify that the successful bidder shall <br />be bound by all the terms of said lease agreement. <br /> <br />-3- <br />