Form 25-18

Subordination of Landlord’s Lien

Date:

Landlord:

Landlord’s Address:

Secured Party:

Secured Party’s Address:

Tenant:

Tenant’s Address:

Secured Property: All items described in attached Schedule 1.

Secured Indebtedness:

Lease

Date:

Landlord:

Tenant:

Property Address:

Square Footage:

Premises:

Landlord, Secured Party, and Tenant agree to the following:

1.Landlord subordinates Landlord’s lien on the Secured Property to the lien of the Secured Party, but only to the extent of the Secured Indebtedness.

2.Landlord will grant Secured Party access to the Premises to remove the Secured Property upon receipt of written notice from Secured Party of Tenant’s default as borrower under the Secured Indebtedness. Secured Party may not enter the Premises for any other pur­pose. In the event of Tenant’s default as borrower under the Secured Indebtedness, Tenant authorizes Landlord to grant Secured Party access to the Premises to remove the Secured Property.

3.Secured Party must remove the Secured Property within thirty days after Landlord delivers notice to Secured Party demanding removal. Secured Party will be liable for all repairs resulting from the removal of the Secured Property. Failure to remove the Secured Property within the thirty-day period terminates Landlord’s agreements and obligations and gives Landlord the right to remove the Secured Property and dispose of it as Landlord wishes without being obligated in any way to account to Secured Party or to Tenant.

4.Wherever any notice is required under this agreement, the notice must be in writ­ing. Any notice is delivered when actually received by the addressee or, if earlier and regard­less of whether actually received or not, when deposited with the United States Postal Service, postage prepaid, certified mail, return receipt requested, or when sent by messenger or courier (but not facsimile or e-mail), addressed to the applicable party at the party’s address set forth above.

   
[Name of landlord]

   
[Name of secured party]

   
[Name of tenant]