Harris Texas Contrato de Subordinación y Apertura - Arrendador - Arrendatario - Prestamista - Subordination and Attornment Agreement - Landlord - Tenant - Lender

• Category: Arrendador Inquilino - Subordinación - Acuerdos - Alaska
• State: Multi-State
• County: Harris
• Control #: US-XS-0014
• Format: Word

Description

Acuerdo de subordinación detallado y attorment en relación con el préstamo al Propietario por parte del Prestamista In Harris County, Texas, the Subordination and Attornment Agreement is a legal document that establishes the relationship between the landlord, tenant, and lender in a commercial property lease. This agreement outlines the rights and obligations of each party and ensures a smooth transition in the event of a change in ownership or financing. The Harris Texas Subordination and Attornment Agreement typically includes the following key provisions: 1. Subordination Clause: This clause states that the tenant's leasehold interest will be subordinate to the lender's security interest in the property. In case of default by the landlord, the lender will have priority to the property. 2. Attornment Clause: This clause requires the tenant to recognize and accept a new owner or lender as the rightful party in the event of a foreclosure or sale. The tenant agrees to continue paying rent to the new owner or lender. 3. Non-Disturbance Clause: This clause provides protection to the tenant by ensuring that if the lender enforces its security interest and forecloses on the property, the tenant's lease will not be disturbed, and the new owner will honor the terms of the lease. 4. Notice Requirement: The agreement may include a provision that requires the tenant to receive written notice from the landlord in case of any defaults under the loan documents. This ensures transparency between the parties involved. Different types of Harris Texas Subordination and Attornment Agreements could include variations based on specific lease terms or property types. For instance, there may be separate agreements for retail properties, office spaces, or industrial facilities. These agreements may also differ based on the duration of the lease or the financial arrangements between the landlord and lender. Overall, the Harris Texas Subordination and Attornment Agreement is crucial for protecting the rights and interests of both landlords and tenants in commercial property leases. It ensures a smooth relationship between all parties involved, even in the event of changes in ownership or financing arrangements.

In Harris County, Texas, the Subordination and Attornment Agreement is a legal document that establishes the relationship between the landlord, tenant, and lender in a commercial property lease. This agreement outlines the rights and obligations of each party and ensures a smooth transition in the event of a change in ownership or financing. The Harris Texas Subordination and Attornment Agreement typically includes the following key provisions: 1. Subordination Clause: This clause states that the tenant's leasehold interest will be subordinate to the lender's security interest in the property. In case of default by the landlord, the lender will have priority to the property. 2. Attornment Clause: This clause requires the tenant to recognize and accept a new owner or lender as the rightful party in the event of a foreclosure or sale. The tenant agrees to continue paying rent to the new owner or lender. 3. Non-Disturbance Clause: This clause provides protection to the tenant by ensuring that if the lender enforces its security interest and forecloses on the property, the tenant's lease will not be disturbed, and the new owner will honor the terms of the lease. 4. Notice Requirement: The agreement may include a provision that requires the tenant to receive written notice from the landlord in case of any defaults under the loan documents. This ensures transparency between the parties involved. Different types of Harris Texas Subordination and Attornment Agreements could include variations based on specific lease terms or property types. For instance, there may be separate agreements for retail properties, office spaces, or industrial facilities. These agreements may also differ based on the duration of the lease or the financial arrangements between the landlord and lender. Overall, the Harris Texas Subordination and Attornment Agreement is crucial for protecting the rights and interests of both landlords and tenants in commercial property leases. It ensures a smooth relationship between all parties involved, even in the event of changes in ownership or financing arrangements.

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.