North Carolina 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 North Carolina Subordination, Nondisturbance, and Attornment Agreement (SODA) is a legal contract commonly used in real estate transactions. This agreement is primarily executed between a tenant, landlord, and a lender. It addresses the respective rights and obligations of each party involved and establishes the priority of their interests in a property. In North Carolina, there are various types of Sample Subordination, Nondisturbance, and Attornment Agreements tailored to specific situations. Some common types include: 1. Commercial Lease SODA: This type of agreement is typically utilized when a commercial property is subject to a mortgage held by a lender. It ensures that the tenant's leasehold rights will not be disturbed in case of foreclosure, and the lender acknowledges and attorns to the tenant's rights. 2. Subordination Agreement: In North Carolina, a subordination agreement may be executed when a tenant desires to subordinate their leasehold interest to a mortgage or other lien held by a lender. By signing this type of agreement, the tenant acknowledges that the mortgage or lien has priority over their leasehold interest. 3. Non-Disturbance Agreement: A non-disturbance agreement is necessary when a tenant wants assurance that their lease will be recognized and honored by the new owner or lender in the event of foreclosure or change in ownership. This agreement protects the tenant's rights and ensures they won't be unnecessarily disturbed during such circumstances. 4. Attornment Agreement: An attornment agreement establishes the tenant's agreement to recognize and attorn to a new landlord if the property's ownership changes hands. It provides assurance to the new owner or lender that the tenant will continue to pay rent and abide by the terms of the lease even after a change in ownership. North Carolina Sample Subordination, Nondisturbance, and Attornment Agreements are generally comprehensive documents that cover important aspects such as notice provisions, rights and remedies of the parties, waiver of certain rights, and obligations in case of default. These agreements play a crucial role in protecting the rights and interests of both tenants and lenders in real estate transactions within North Carolina.

A North Carolina Subordination, Nondisturbance, and Attornment Agreement (SODA) is a legal contract commonly used in real estate transactions. This agreement is primarily executed between a tenant, landlord, and a lender. It addresses the respective rights and obligations of each party involved and establishes the priority of their interests in a property. In North Carolina, there are various types of Sample Subordination, Nondisturbance, and Attornment Agreements tailored to specific situations. Some common types include: 1. Commercial Lease SODA: This type of agreement is typically utilized when a commercial property is subject to a mortgage held by a lender. It ensures that the tenant's leasehold rights will not be disturbed in case of foreclosure, and the lender acknowledges and attorns to the tenant's rights. 2. Subordination Agreement: In North Carolina, a subordination agreement may be executed when a tenant desires to subordinate their leasehold interest to a mortgage or other lien held by a lender. By signing this type of agreement, the tenant acknowledges that the mortgage or lien has priority over their leasehold interest. 3. Non-Disturbance Agreement: A non-disturbance agreement is necessary when a tenant wants assurance that their lease will be recognized and honored by the new owner or lender in the event of foreclosure or change in ownership. This agreement protects the tenant's rights and ensures they won't be unnecessarily disturbed during such circumstances. 4. Attornment Agreement: An attornment agreement establishes the tenant's agreement to recognize and attorn to a new landlord if the property's ownership changes hands. It provides assurance to the new owner or lender that the tenant will continue to pay rent and abide by the terms of the lease even after a change in ownership. North Carolina Sample Subordination, Nondisturbance, and Attornment Agreements are generally comprehensive documents that cover important aspects such as notice provisions, rights and remedies of the parties, waiver of certain rights, and obligations in case of default. These agreements play a crucial role in protecting the rights and interests of both tenants and lenders in real estate transactions within North Carolina.