This office lease is subject and subordinate to all ground or underlying leases and to all mortgages which may affect the lease or the real property of which demised premises are a part and to all renewals, modifications, consolidations, replacements and extensions of any such underlying leases and mortgages. This clause shall be self-operative.
Nebraska Subordination Provision is a legal concept that plays a significant role in the field of real estate transactions. It refers to a clause within a mortgage or deed of trust agreement, whereby the interest of a lender in a property is made subject to the claim of another party. This provision ensures that certain parties, such as subsequent mortgage lenders or other lien holders, have priority over the original lender in the event of foreclosure or repayment. The purpose of the Nebraska Subordination Provision is to establish the order in which various creditors can recoup their debts from the proceeds of a property sale or foreclosure. It helps protect the interests of lenders by stipulating the priority of their claims and can affect the financial risks involved in lending transactions. In the state of Nebraska, there may be different types of subordination provisions, including: 1. Mortgage Subordination: This type of provision refers to situations where a borrower wishes to obtain additional financing secured by the same property. The original lender may agree to subordinate their lien to the new lender, granting the latter a higher position of priority. 2. Junior Lien Subordination: In cases where a property has multiple liens, the subordination provision may dictate the priority of these secondary claims. The junior lien holders agree to subordinate their interests to the senior lien holder, acknowledging that they will be paid after the senior lien is satisfied. 3. Other Creditors Subordination: Aside from mortgage lenders, there could be other creditors or parties with claims against a property. The subordination provision can specify the order in which these other creditors will be paid, ensuring fairness and transparency in the distribution of proceeds. Keywords: Nebraska Subordination Provision, mortgage, deed of trust, real estate transactions, claim, foreclosure, repayment, priority, lenders, lien holders, interests, property sale, financial risks, types, mortgage subordination, junior lien subordination, other creditors' subordination.Nebraska Subordination Provision is a legal concept that plays a significant role in the field of real estate transactions. It refers to a clause within a mortgage or deed of trust agreement, whereby the interest of a lender in a property is made subject to the claim of another party. This provision ensures that certain parties, such as subsequent mortgage lenders or other lien holders, have priority over the original lender in the event of foreclosure or repayment. The purpose of the Nebraska Subordination Provision is to establish the order in which various creditors can recoup their debts from the proceeds of a property sale or foreclosure. It helps protect the interests of lenders by stipulating the priority of their claims and can affect the financial risks involved in lending transactions. In the state of Nebraska, there may be different types of subordination provisions, including: 1. Mortgage Subordination: This type of provision refers to situations where a borrower wishes to obtain additional financing secured by the same property. The original lender may agree to subordinate their lien to the new lender, granting the latter a higher position of priority. 2. Junior Lien Subordination: In cases where a property has multiple liens, the subordination provision may dictate the priority of these secondary claims. The junior lien holders agree to subordinate their interests to the senior lien holder, acknowledging that they will be paid after the senior lien is satisfied. 3. Other Creditors Subordination: Aside from mortgage lenders, there could be other creditors or parties with claims against a property. The subordination provision can specify the order in which these other creditors will be paid, ensuring fairness and transparency in the distribution of proceeds. Keywords: Nebraska Subordination Provision, mortgage, deed of trust, real estate transactions, claim, foreclosure, repayment, priority, lenders, lien holders, interests, property sale, financial risks, types, mortgage subordination, junior lien subordination, other creditors' subordination.
