Common use of Recorded Memorandum Clause in Contracts

Recorded Memorandum. This Lease shall not be recorded. However, the Parties hereto, on the request of either of them, shall enter into a memorandum of this Lease, in recordable form, setting forth the information specified in Section 3-101(e) of the Real Property Article of the Annotated Code of Maryland, or any successor or amendatory statute thereof. The Party submitting the memorandum for recording shall be obligated to pay any and all transfer and recordation taxes that may be due or required to be paid in connection with the recording of the memorandum or the underlying Lease referred to therein. Upon any extensions hereof, an amendment to such memorandum may be executed and recorded reflecting such renewal and the expiration date thereof. Notwithstanding anything herein to the contrary, Landlord and Tenant agree not to record any memorandum of this Lease until after the Lease Commencement Date.