This office lease form states that the lessor represents to the lessee that the existing fee mortgage is the only mortgage encumbering the land and the demised premises. The lessor agrees to cause the holder of the existing fee mortgage to agree to certain provisions.
Nebraska Fee Mortgage Provisions refer to the specific clauses and terms outlined in a ground lease agreement pertaining to mortgages and financing options. These provisions play a crucial role in outlining the rights and restrictions of individuals or entities seeking to secure a mortgage for a property that is subject to a ground lease in the state of Nebraska. Ground leases, also known as land leases, typically involve an agreement where the landowner leases the land to a tenant who then constructs or uses buildings or improvements on the property. However, unlike traditional lease agreements, ground leases often extend over an extended period, ranging from 30 to 99 years. Given the long-term nature of ground leases, the inclusion of fee mortgage provisions is essential to protect the interests of both the landowner and the tenant seeking financing. Here are some types of Nebraska Fee Mortgage Provisions commonly found in Ground Lease agreements: 1. Mortgagee Rights: This provision outlines the rights and protections granted to the mortgagee (the lender), allowing them to secure their interest in the property with a mortgage and enforcing their rights in the event of default by the tenant or any other unforeseen circumstances. 2. Subordination and Non-Disturbance: This provision establishes the priority of the mortgagee's interest in the property compared to the ground lease. It ensures that the mortgagee's rights are superior to the tenant's rights in case of default or foreclosure. 3. Leasehold Mortgage: This provision outlines the circumstances under which a leasehold interest can be mortgaged and the rights and obligations of the tenant and mortgagee in relation to the ground lease. 4. Attornment: Attornment is a provision that requires the tenant, in the event of a foreclosure or change in ownership, to recognize the new owner as the landlord and continue to pay rent and perform other obligations outlined in the ground lease. 5. Estoppel Certificates: This provision obligates the tenant to provide an estoppel certificate to the mortgagee upon request, which confirms the current status of the ground lease, including rental payment details, lease term, and any defaults or breaches. 6. Notice Requirements: These provisions outline specific notice requirements related to any potential changes or defaults under the ground lease, ensuring that all parties involved are timely informed of any material changes that could affect their interests. Nebraska Fee Mortgage Provisions from a Ground Lease are critical tools used to safeguard the interests of both the tenant and the mortgagee involved in a ground lease agreement. These provisions ensure clarity, establish priorities, and protect the rights and obligations of all parties involved. Understanding these provisions is vital for individuals or entities seeking financing for properties subject to ground leases in the state of Nebraska.Nebraska Fee Mortgage Provisions refer to the specific clauses and terms outlined in a ground lease agreement pertaining to mortgages and financing options. These provisions play a crucial role in outlining the rights and restrictions of individuals or entities seeking to secure a mortgage for a property that is subject to a ground lease in the state of Nebraska. Ground leases, also known as land leases, typically involve an agreement where the landowner leases the land to a tenant who then constructs or uses buildings or improvements on the property. However, unlike traditional lease agreements, ground leases often extend over an extended period, ranging from 30 to 99 years. Given the long-term nature of ground leases, the inclusion of fee mortgage provisions is essential to protect the interests of both the landowner and the tenant seeking financing. Here are some types of Nebraska Fee Mortgage Provisions commonly found in Ground Lease agreements: 1. Mortgagee Rights: This provision outlines the rights and protections granted to the mortgagee (the lender), allowing them to secure their interest in the property with a mortgage and enforcing their rights in the event of default by the tenant or any other unforeseen circumstances. 2. Subordination and Non-Disturbance: This provision establishes the priority of the mortgagee's interest in the property compared to the ground lease. It ensures that the mortgagee's rights are superior to the tenant's rights in case of default or foreclosure. 3. Leasehold Mortgage: This provision outlines the circumstances under which a leasehold interest can be mortgaged and the rights and obligations of the tenant and mortgagee in relation to the ground lease. 4. Attornment: Attornment is a provision that requires the tenant, in the event of a foreclosure or change in ownership, to recognize the new owner as the landlord and continue to pay rent and perform other obligations outlined in the ground lease. 5. Estoppel Certificates: This provision obligates the tenant to provide an estoppel certificate to the mortgagee upon request, which confirms the current status of the ground lease, including rental payment details, lease term, and any defaults or breaches. 6. Notice Requirements: These provisions outline specific notice requirements related to any potential changes or defaults under the ground lease, ensuring that all parties involved are timely informed of any material changes that could affect their interests. Nebraska Fee Mortgage Provisions from a Ground Lease are critical tools used to safeguard the interests of both the tenant and the mortgagee involved in a ground lease agreement. These provisions ensure clarity, establish priorities, and protect the rights and obligations of all parties involved. Understanding these provisions is vital for individuals or entities seeking financing for properties subject to ground leases in the state of Nebraska.
