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.
A North Dakota Nondisturbance and Attornment Agreement with the Landlord, also known as an NDA, is a legal agreement entered into between a tenant and a landlord. This agreement protects the tenant's rights in the event of a foreclosure or transfer of the property. In North Dakota, there are two main types of Nondisturbance and Attornment Agreements: 1. Standard Nondisturbance and Attornment Agreement: This is the most commonly used type of agreement. It ensures that the tenant's lease will not be disturbed or terminated in the event of a foreclosure or transfer of the property. It also requires the new owner or the foreclosing party to recognize the tenant's rights and obligations under the lease. 2. Subordinated Nondisturbance and Attornment Agreement: This agreement is typically used when there are multiple liens or mortgages on the property. It provides a specific order of priority for each creditor, ensuring that the tenant's rights are subordinated to other parties' interests. Key elements of a North Dakota Nondisturbance and Attornment Agreement include: 1. Identification of Parties: The agreement should clearly identify the tenant, landlord, and any other relevant parties, such as the lender or new owner. 2. Property Description: A detailed description of the property should be included to accurately identify the premises covered by the lease. 3. Lease Terms: The agreement should reference the lease and specify that the tenant's rights and obligations under the lease will continue in full force and effect, regardless of any foreclosure or transfer of the property. 4. Recognition of New Owner/Lender: The agreement should state that the tenant acknowledges and agrees to recognize the new owner or lender as the successor landlord, becoming bound by the terms of the lease. 5. Non-Disturbance Clause: A non-disturbance clause ensures that the tenant will not be evicted or disturbed by the new owner or lender in the event of foreclosure or a sale. The clause also prevents any termination of the lease due to such circumstances. 6. Subordination Clause: If it is a subordinated Nondisturbance and Attornment Agreement, it should include a clause acknowledging and setting forth the subordination of the tenant's rights to other outstanding liens, mortgages, or creditor interests. In summary, a North Dakota Nondisturbance and Attornment Agreement with the Landlord is a crucial legal document that ensures the tenant's lease remains intact and binding, even in the event of foreclosure or property transfer. It is essential for both tenants and landlords to understand the terms and implications of this agreement to protect their rights and interests.
