A Hawaii Subordination of Mortgage / Deed of Trust to Oil and Gas Lease with Bonus and Royalty Payments to Go to Lessor Until Notice from Lien holder is a legal document that outlines the priority of payments in the event of an oil and gas lease, where a mortgage or deed of trust is already in place on the property. This subordination agreement ensures that the lessor receives the bonus and royalty payments until the lien holder is officially notified. In Hawaii, there are various types of subordination agreements related to oil and gas leases that serve specific purposes. These include: 1. First Lien Subordination: This type of agreement subordinates the lien holder's interest to the oil and gas lease, ensuring that the lessor receives the bonus and royalty payments before the lien holder. 2. Second Lien Subordination: In this scenario, there might already be an existing subordination agreement in place, and a second subordination agreement is executed to further secure the interest of the lessor in receiving the bonus and royalty payments. 3. Partial Subordination: This type of subordination agreement specifies that only a portion of the mortgage or deed of trust is being subordinated to the oil and gas lease. It allows the lessor to receive a percentage of the bonus and royalty payments while the remaining portion is prioritized for the lien holder. 4. Complete Lien Subordination: This agreement completely subordinates the lien holder's interest to the oil and gas lease, ensuring that the lessor receives the full amount of bonus and royalty payments until the lien holder is notified. When executing a Hawaii Subordination of Mortgage / Deed of Trust to Oil and Gas Lease with Bonus and Royalty Payments to Go to Lessor Until Notice from Lien holder, it is crucial to comply with the state's specific laws and requirements. Consulting with an experienced attorney or legal professional is highly recommended ensuring the agreement accurately reflects the parties' intentions and to safeguard their respective rights and interests.
Hawaii Subordination of Mortgage / Deed of Trust to Oil and Gas Lease with Bonus and Royalty Payments to Go to Lessor Until Notice from Lienholder
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