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Tenant |
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A stipulation that the lessee may encumber its leasehold estate (use it for collateral when obtaining financing) without having to obtain the landlord's consent. During this 15-day period, JHP completed its due diligence and processed loan documentation that created a fee and leasehold estate. InterGen eventually defaulted on the loan, and a Chase affiliate took title to the collateral - the 811 building's leasehold estate - in a "non-judicial" foreclosure action. |
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