Arkansas Sample Subordination, Nondisturbance and Attornment Agreement

• Category: Corporations - Public
• State: Multi-State
• Control #: US-EG-9472
• Format: Word; Rich Text

Description

Subordination, Non-Disturbance and Attornment Agreement between 233 Broadway Owners LLC, Organic and Lehman Brothers Holding, Inc. regarding assurances of possession of premises dated 00/99. 5 pages. A Subordination, Nondisturbance, and Attornment Agreement (SODA) is a legal contract commonly used in real estate transactions, particularly in the context of commercial property leasing. This agreement outlines the rights and responsibilities of three parties involved: the lender, the tenant, and the landlord. Specifically, it addresses the relationship between the tenant's lease and the lender's mortgage in case of default or foreclosure. In Arkansas, like in many other jurisdictions, there may be different types of Sample Subordination, Nondisturbance, and Attornment Agreements based on various factors such as the type of property, the nature of the lease, or the specific needs of the parties involved. Some common types of Arkansas Sample Subordination, Nondisturbance, and Attornment Agreements include: 1. Commercial Property SODA: This type of agreement is frequently used in the commercial real estate sector. It establishes the rights of a commercial tenant and ensures that their lease will be respected by a lender, even if the property goes into foreclosure. It protects the tenant's occupancy rights and ensures they won't be disturbed by the lender's actions. 2. Residential Property SODA: While less common, an SODA can also be applicable to residential leases in Arkansas. In this case, the agreement would specify the rights of a residential tenant and how their lease would be treated in the event of foreclosure. It provides the tenant with security and ensures that their tenancy will be honored despite any change in property ownership. 3. Sodas in Construction Financing: Sometimes, an SODA may be used in the context of construction financing. This type of agreement protects the rights of both a lender and a tenant during a construction project, ensuring that the lender's lien takes priority over the tenant's lease but also providing the tenant with certain protections. It's important for parties involved in a lease agreement in Arkansas to carefully consider the terms and implications of an SODA. These agreements can greatly impact the rights and obligations of the tenant, landlord, and lender. Seeking legal advice and utilizing a well-drafted Arkansas Sample Subordination, Nondisturbance, and Attornment Agreement tailored to the specific circumstances is crucial to protect the interests of all parties involved in a real estate transaction.

A Subordination, Nondisturbance, and Attornment Agreement (SODA) is a legal contract commonly used in real estate transactions, particularly in the context of commercial property leasing. This agreement outlines the rights and responsibilities of three parties involved: the lender, the tenant, and the landlord. Specifically, it addresses the relationship between the tenant's lease and the lender's mortgage in case of default or foreclosure. In Arkansas, like in many other jurisdictions, there may be different types of Sample Subordination, Nondisturbance, and Attornment Agreements based on various factors such as the type of property, the nature of the lease, or the specific needs of the parties involved. Some common types of Arkansas Sample Subordination, Nondisturbance, and Attornment Agreements include: 1. Commercial Property SODA: This type of agreement is frequently used in the commercial real estate sector. It establishes the rights of a commercial tenant and ensures that their lease will be respected by a lender, even if the property goes into foreclosure. It protects the tenant's occupancy rights and ensures they won't be disturbed by the lender's actions. 2. Residential Property SODA: While less common, an SODA can also be applicable to residential leases in Arkansas. In this case, the agreement would specify the rights of a residential tenant and how their lease would be treated in the event of foreclosure. It provides the tenant with security and ensures that their tenancy will be honored despite any change in property ownership. 3. Sodas in Construction Financing: Sometimes, an SODA may be used in the context of construction financing. This type of agreement protects the rights of both a lender and a tenant during a construction project, ensuring that the lender's lien takes priority over the tenant's lease but also providing the tenant with certain protections. It's important for parties involved in a lease agreement in Arkansas to carefully consider the terms and implications of an SODA. These agreements can greatly impact the rights and obligations of the tenant, landlord, and lender. Seeking legal advice and utilizing a well-drafted Arkansas Sample Subordination, Nondisturbance, and Attornment Agreement tailored to the specific circumstances is crucial to protect the interests of all parties involved in a real estate transaction.