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EX 10 17 4 Ex10 17 Htm MASTER LEASE MASTER  Form

EX 10 17 4 Ex10 17 Htm MASTER LEASE MASTER Form

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[Music] now remember the bank biggest investor in a mortgage document they have the right to foreclose whatever reason it is let's say that you're in there with a master lease and the bank just starts foreclosure proceedings because the this owner is not keeping up with the mortgage what does that do to your master lease it goes away uh it you know there's a document that is signed by the bank and the seller called an assignment and an assumption of leases if you look at our purchase and sale agreement you'll see that in the exhibit sections there's a there's a a draft assignment an assumption of lease document all right that is so in that document that's where the seller assigns and you assume all the obligations of the leases in the purchase and sale contract then you're going to sign another one as the owner when you take over that property to the bank and the bank gets an assignment an assumption of leases if they begi

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