This office lease form is an agreement entered into in connection with a certain loan which the lender has made to the landlord and secured, in part, by a mortgage, assignment of the leases and rents and security agreement on the premises. This form describes the issues of mortgage subordination and a tenants agreement to hold the land as the tenant of a new landlord.
Maryland Subordination of Mortgage and Attornment Agreement is a legal document used in real estate transactions, specifically involving mortgages. This agreement establishes the priority of different mortgage lien holders in case of default or foreclosure. In Maryland, there are two common types of Subordination of Mortgage and Attornment Agreements: 1. First Lien Subordination Agreement: This type of agreement is utilized when a new mortgage is being added to the property with an existing first mortgage. The agreement ensures that the new mortgage is subordinate to the first lien mortgage, allowing the first lien mortgage holder to maintain priority in the event of default or foreclosure. 2. Second Lien Subordination Agreement: This agreement is applicable when there is an existing first mortgage on the property, and a second mortgage is being added. The second mortgage holder acknowledges the first mortgage's priority and agrees to subordinate their lien to the first mortgage. By signing this agreement, the second mortgage is placed in a subordinate position, meaning that the first mortgage has priority in the event of default or foreclosure. Keywords: Maryland, Subordination of Mortgage, Attornment Agreement, real estate transactions, mortgages, lien holders, priority, default, foreclosure, first lien subordination agreement, second lien subordination agreement.Maryland Subordination of Mortgage and Attornment Agreement is a legal document used in real estate transactions, specifically involving mortgages. This agreement establishes the priority of different mortgage lien holders in case of default or foreclosure. In Maryland, there are two common types of Subordination of Mortgage and Attornment Agreements: 1. First Lien Subordination Agreement: This type of agreement is utilized when a new mortgage is being added to the property with an existing first mortgage. The agreement ensures that the new mortgage is subordinate to the first lien mortgage, allowing the first lien mortgage holder to maintain priority in the event of default or foreclosure. 2. Second Lien Subordination Agreement: This agreement is applicable when there is an existing first mortgage on the property, and a second mortgage is being added. The second mortgage holder acknowledges the first mortgage's priority and agrees to subordinate their lien to the first mortgage. By signing this agreement, the second mortgage is placed in a subordinate position, meaning that the first mortgage has priority in the event of default or foreclosure. Keywords: Maryland, Subordination of Mortgage, Attornment Agreement, real estate transactions, mortgages, lien holders, priority, default, foreclosure, first lien subordination agreement, second lien subordination agreement.
