we created master funding solutionssm in order to enhance the benefits of a traditional real estate lease solutions. below are responses to the most frequent questions we receive concerning master lease structures. in the case of individual leases when a landlord is being asked to own a single location, property value can be harmed by altering location dynamics or property performance. landlords that utilize master leases have the ability to provide asset for values that correspond more closely with tenant valuation expectations and actual corporate outlays due to the investment diversity provided by the master lease structure. providing capital for new projects tends to be more difficult than funding existing, proven locations for landlords and conventional lenders. master leases at s|t|o|r|e are able to fully fund land and building costs with the new project rolled into an existing master lease.

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lessor shall not be obligated under any circumstances to advance any progress payments or other funds for any equipment or to enter into any lease if there shall have occurred a material adverse change in the operations, business, properties or condition, financial or otherwise, of lessee or any guarantor. except as provided in (x) section 13 with respect to a permitted assignment or sublease, or (y) section 10 with respect to a permitted license, lessee shall not change the location of any equipment specified in its schedule without lessor’s prior written consent. lessor shall be treated for federal and state income tax purposes as the owner of the equipment and shall be entitled to take into account certain tax benefits in computing its income tax liabilities in connection with any lease. if lessee does not surrender or return any item of equipment to lessor on the date or in the condition required under a lease, in addition to all other available rights and remedies, at lessor’s election, such equipment shall continue to be subject to all the terms and conditions of the lease, with rent and other charges continuing to accrue and be payable under the lease with respect to such equipment until it is so surrendered or returned to lessor, except that rent shall accrue at 125% of the last rent allocable to such item of equipment (as reasonably calculated by lessor) during the lease term, payable on demand. lessee shall obtain and record such instruments and take such steps as may be necessary to (i) prevent any creditor, landlord, mortgagee or other entity (other than lessor) from having any lien, charge, security interest or encumbrance on any equipment, and (ii) ensure lessor’s right of access to and removal of equipment in accordance with the lease.