This Lease Subordination Agreement is a lienholder's lien that was created by a (Mortgage/Deed of Trust) and is subordinated to a mineral/oil/gas lease and lienholder releases, said Leasehold from all liens created by said (Mortgage/Deed of Trust), and all extensions and renewals of such liens. Lienholder retains all rights under the (Mortgage/Deed of Trust) against any royalty interest reserved by the lessor in and payable under the terms of the lease, or any of lessor's reversionary interests on the termination or expiration of the lease.
Subordination means an agreement to put a debt or claim which has priority in a lower position behind another debt, particularly a new loan. A property owner with a loan secured by the property who applies for a second mortgage to make additions or repairs usually must get a subordination of the original loan so the new loan has first priority. A declaration of homestead must always be subordinated to a loan.
A Fargo North Dakota Lease Subordination Agreement is a legal document that governs the relationship between a primary lease and a subsequent lease, whereby the subsequent lease is placed in a lower priority position than the primary lease in case of default or foreclosure. This agreement is commonly used in commercial real estate transactions in Fargo, North Dakota. In such an agreement, the lessee (the one who holds the primary lease) agrees to subordinate their lease to a new lease, which means that the new lease will have a higher priority in the event of a default. This provides security for lenders or other parties who may require the property as collateral. Keywords: Fargo North Dakota, Lease Subordination Agreement, commercial real estate transactions, primary lease, subsequent lease, lower priority position, default, foreclosure, lessee, higher priority, lenders, collateral. Different types of Fargo North Dakota Lease Subordination Agreements may include: 1. Commercial Lease Subordination Agreement: This type of agreement is used when leasing commercial properties, such as retail spaces, offices, or industrial units in Fargo, North Dakota. It ensures that the subsequent lease takes priority over the primary lease in case of default. 2. Residential Lease Subordination Agreement: When subleasing residential properties in Fargo, North Dakota, this agreement is used to establish the priority of leases and protect the interests of lenders or parties involved in the sublease. 3. Ground Lease Subordination Agreement: This type of agreement applies when leasing land or real estate in Fargo, North Dakota for long-term use, such as construction projects or renewable energy developments. It determines the priority of leases and protects the interests of lenders or parties involved in the sublease. 4. Retail Lease Subordination Agreement: When leasing retail spaces, such as outlets or shopping centers, in Fargo, North Dakota, this agreement determines the priority of leases and protects the interests of lenders or parties involved. 5. Office Lease Subordination Agreement: This agreement is used specifically for leasing office spaces in Fargo, North Dakota. It establishes the priority of leases and protects the rights of lenders or other parties in the event of default. In summary, a Fargo North Dakota Lease Subordination Agreement is a legal document used in commercial and residential real estate transactions to establish the priority of leases and protect the interests of lenders or parties involved. Different types of agreements exist, including commercial, residential, ground lease, retail lease, and office lease subordination agreements.A Fargo North Dakota Lease Subordination Agreement is a legal document that governs the relationship between a primary lease and a subsequent lease, whereby the subsequent lease is placed in a lower priority position than the primary lease in case of default or foreclosure. This agreement is commonly used in commercial real estate transactions in Fargo, North Dakota. In such an agreement, the lessee (the one who holds the primary lease) agrees to subordinate their lease to a new lease, which means that the new lease will have a higher priority in the event of a default. This provides security for lenders or other parties who may require the property as collateral. Keywords: Fargo North Dakota, Lease Subordination Agreement, commercial real estate transactions, primary lease, subsequent lease, lower priority position, default, foreclosure, lessee, higher priority, lenders, collateral. Different types of Fargo North Dakota Lease Subordination Agreements may include: 1. Commercial Lease Subordination Agreement: This type of agreement is used when leasing commercial properties, such as retail spaces, offices, or industrial units in Fargo, North Dakota. It ensures that the subsequent lease takes priority over the primary lease in case of default. 2. Residential Lease Subordination Agreement: When subleasing residential properties in Fargo, North Dakota, this agreement is used to establish the priority of leases and protect the interests of lenders or parties involved in the sublease. 3. Ground Lease Subordination Agreement: This type of agreement applies when leasing land or real estate in Fargo, North Dakota for long-term use, such as construction projects or renewable energy developments. It determines the priority of leases and protects the interests of lenders or parties involved in the sublease. 4. Retail Lease Subordination Agreement: When leasing retail spaces, such as outlets or shopping centers, in Fargo, North Dakota, this agreement determines the priority of leases and protects the interests of lenders or parties involved. 5. Office Lease Subordination Agreement: This agreement is used specifically for leasing office spaces in Fargo, North Dakota. It establishes the priority of leases and protects the rights of lenders or other parties in the event of default. In summary, a Fargo North Dakota Lease Subordination Agreement is a legal document used in commercial and residential real estate transactions to establish the priority of leases and protect the interests of lenders or parties involved. Different types of agreements exist, including commercial, residential, ground lease, retail lease, and office lease subordination agreements.
Para su conveniencia, debajo del texto en español le brindamos la versión completa de este formulario en inglés. For your convenience, the complete English version of this form is attached below the Spanish version.
