This office lease form states that the landlord has entered into a certain agreement of lease with the tenant as sublessor. The tenant, as sublessor, has entered into a certain sublease agreement with the sublessee. In the event of termination of the lease, the sublessee agrees to attorn to and accept the landlord as its direct landlord under the lease for the balance then remaining of the term of the Lease, and the sublessee shall assume all of the terms and conditions of the Lease, except that sublessee shall have no liability for any defaults of Tenant prior to the date of attornment.
Illinois Nondisturbance and Attornment Agreement With Landlord is a legal agreement that protects the rights and interests of a tenant in the event of a foreclosure or sale of the property they are leasing. This agreement ensures that the tenant's lease will remain in effect, and their rights as a tenant will be respected, even if a new landlord takes over the property. In Illinois, there are typically two types of Nondisturbance and Attornment Agreements: 1. Tenant-Focused Nondisturbance Agreement: This agreement primarily focuses on protecting the tenant's rights. It ensures that, in the event of a foreclosure or sale, the tenant's lease will be recognized by the new landlord, and the tenant will not be evicted or disturbed during the remaining term of their lease, as long as they comply with the lease terms. 2. Lender-Focused Nondisturbance Agreement: This agreement primarily focuses on protecting the lender's interests. It states that, in the event of default by the landlord on their mortgage, the tenant will attorn to the lender or the purchaser in a foreclosure sale. This means that the tenant recognizes the new owner or lender as their landlord, and agrees to continue paying rent and complying with the terms of the lease. The Illinois Nondisturbance and Attornment Agreement with Landlord typically includes the following key provisions: 1. Recognition of the Tenant: The agreement states that the new landlord or lender recognizes the tenant as the lawful occupant of the property and acknowledges their right to possess the leased premises. 2. Lease Continuation: It ensures that the lease will remain in full force and effect, even after the change of ownership or foreclosure. The tenant's rights and obligations under the lease will be respected by the new landlord. 3. Payment of Rent: The agreement specifies that the tenant will continue to pay rent directly to the new landlord or lender, as instructed by them after a foreclosure or change of ownership. 4. Compliance with Lease Terms: The tenant agrees to continue complying with all the terms and conditions of their lease, including maintenance responsibilities, insurance requirements, and usage restrictions. 5. Non-Disturbance Clause: This clause guarantees that the tenant will not be evicted, disturbed, or subjected to any interruption of services due to the change in ownership or foreclosure. 6. Termination by Tenant: The agreement may include provisions that allow the tenant to terminate the lease if certain conditions are met, such as the new owner's failure to remedy substantial defaults made by the previous landlord. It's important for both tenants and landlords in Illinois to carefully review and understand the Nondisturbance and Attornment Agreement, seek legal counsel if necessary, and ensure their rights and interests are protected in the event of a foreclosure or sale.Illinois Nondisturbance and Attornment Agreement With Landlord is a legal agreement that protects the rights and interests of a tenant in the event of a foreclosure or sale of the property they are leasing. This agreement ensures that the tenant's lease will remain in effect, and their rights as a tenant will be respected, even if a new landlord takes over the property. In Illinois, there are typically two types of Nondisturbance and Attornment Agreements: 1. Tenant-Focused Nondisturbance Agreement: This agreement primarily focuses on protecting the tenant's rights. It ensures that, in the event of a foreclosure or sale, the tenant's lease will be recognized by the new landlord, and the tenant will not be evicted or disturbed during the remaining term of their lease, as long as they comply with the lease terms. 2. Lender-Focused Nondisturbance Agreement: This agreement primarily focuses on protecting the lender's interests. It states that, in the event of default by the landlord on their mortgage, the tenant will attorn to the lender or the purchaser in a foreclosure sale. This means that the tenant recognizes the new owner or lender as their landlord, and agrees to continue paying rent and complying with the terms of the lease. The Illinois Nondisturbance and Attornment Agreement with Landlord typically includes the following key provisions: 1. Recognition of the Tenant: The agreement states that the new landlord or lender recognizes the tenant as the lawful occupant of the property and acknowledges their right to possess the leased premises. 2. Lease Continuation: It ensures that the lease will remain in full force and effect, even after the change of ownership or foreclosure. The tenant's rights and obligations under the lease will be respected by the new landlord. 3. Payment of Rent: The agreement specifies that the tenant will continue to pay rent directly to the new landlord or lender, as instructed by them after a foreclosure or change of ownership. 4. Compliance with Lease Terms: The tenant agrees to continue complying with all the terms and conditions of their lease, including maintenance responsibilities, insurance requirements, and usage restrictions. 5. Non-Disturbance Clause: This clause guarantees that the tenant will not be evicted, disturbed, or subjected to any interruption of services due to the change in ownership or foreclosure. 6. Termination by Tenant: The agreement may include provisions that allow the tenant to terminate the lease if certain conditions are met, such as the new owner's failure to remedy substantial defaults made by the previous landlord. It's important for both tenants and landlords in Illinois to carefully review and understand the Nondisturbance and Attornment Agreement, seek legal counsel if necessary, and ensure their rights and interests are protected in the event of a foreclosure or sale.
