New Hampshire Non-Disturbance, Attornment, Estoppel & Subordination Agreement

• Category: Oil Gas and Minerals - Agreements
• State: Multi-State
• Control #: US-OG-1053
• Format: Word; Rich Text

Description

This form is a nondisturbance, attornment, estoppel and subordination agreement. A New Hampshire Non-Disturbance, Attornment, Estoppel & Subordination Agreement is a legally binding contract that establishes the rights of various parties involved in a real estate transaction, particularly in the context of secured financing arrangements. This agreement is designed to protect the interests of lenders, tenants, and landlords by addressing potential disputes arising from future events such as lease terminations, property foreclosures, or changes in the property ownership structure. The key elements of a typical New Hampshire Non-Disturbance, Attornment, Estoppel & Subordination Agreement include: 1. Non-Disturbance: This clause ensures that the tenant's rights to possess and occupy the leased premises will not be disturbed by any foreclosure, transfer, or change in property ownership. It guarantees that the tenant can continue operating their business or utilizing the premises undisturbed, even if the landlord defaults on their obligations or the property is foreclosed upon by the lender. 2. Attornment: The attornment provision obligates the tenant to acknowledge any new owner or successor as their landlord, and to continue paying rent and performing lease obligations to the new entity upon foreclosure or change in ownership. This clause protects the lender's interest by ensuring the continuity of rental income. 3. Estoppel: Estoppel certificates are typically required from the tenant as part of this agreement. These certificates confirm specific lease terms, rental obligations, and other relevant details. It prevents tenants from later claiming different lease terms or asserting additional rights against the lender or new owner. 4. Subordination: This clause establishes the priority of the lender's lien or security interest over the rights of the tenant. It ensures that in the event of foreclosure, the lender's rights take precedence over any claims by the tenant. Subordination protects the lender's position and helps maintain the property's value as collateral. While there may not be different types of New Hampshire Non-Disturbance, Attornment, Estoppel & Subordination Agreements per se, variations may exist based on specific property types (commercial, residential), lease structures, or parties involved. However, the overall purpose and core elements of such agreements remain consistent in protecting the interests of lenders, tenants, and landlords in New Hampshire's real estate market.

A New Hampshire Non-Disturbance, Attornment, Estoppel & Subordination Agreement is a legally binding contract that establishes the rights of various parties involved in a real estate transaction, particularly in the context of secured financing arrangements. This agreement is designed to protect the interests of lenders, tenants, and landlords by addressing potential disputes arising from future events such as lease terminations, property foreclosures, or changes in the property ownership structure. The key elements of a typical New Hampshire Non-Disturbance, Attornment, Estoppel & Subordination Agreement include: 1. Non-Disturbance: This clause ensures that the tenant's rights to possess and occupy the leased premises will not be disturbed by any foreclosure, transfer, or change in property ownership. It guarantees that the tenant can continue operating their business or utilizing the premises undisturbed, even if the landlord defaults on their obligations or the property is foreclosed upon by the lender. 2. Attornment: The attornment provision obligates the tenant to acknowledge any new owner or successor as their landlord, and to continue paying rent and performing lease obligations to the new entity upon foreclosure or change in ownership. This clause protects the lender's interest by ensuring the continuity of rental income. 3. Estoppel: Estoppel certificates are typically required from the tenant as part of this agreement. These certificates confirm specific lease terms, rental obligations, and other relevant details. It prevents tenants from later claiming different lease terms or asserting additional rights against the lender or new owner. 4. Subordination: This clause establishes the priority of the lender's lien or security interest over the rights of the tenant. It ensures that in the event of foreclosure, the lender's rights take precedence over any claims by the tenant. Subordination protects the lender's position and helps maintain the property's value as collateral. While there may not be different types of New Hampshire Non-Disturbance, Attornment, Estoppel & Subordination Agreements per se, variations may exist based on specific property types (commercial, residential), lease structures, or parties involved. However, the overall purpose and core elements of such agreements remain consistent in protecting the interests of lenders, tenants, and landlords in New Hampshire's real estate market.