This form is used when Lienholder subordinates all liens created by the (Mortgage/Deed of Trust) to the Lease and releases the leasehold estate created by the Lease from all liens created by the (Mortgage/Deed of Trust) and all extensions and renewals of the liens. Lienholder does not waive or release any of its rights under the (Mortgage/Deed of Trust) on or against any royalty interest reserved by the Lessor.
A subordination agreement with release of lien as to leasehold estate in Oklahoma is a legal document used to establish the priority of two or more interests in a leasehold property. This agreement allows for the release of a lien on the leasehold estate while also specifying the subordination of any other interests in the property. This can be particularly useful when refinancing or obtaining additional financing on a leasehold property. In Oklahoma, there are different types of subordination agreements with release of lien as to leasehold estate, including: 1. Mortgage Subordination Agreement with Release of Lien as to Leasehold Estate: This type of agreement is commonly used when a mortgage lender agrees to subordinate its interest in the leasehold estate to allow for another mortgage or lien to take priority. The agreement will outline the conditions and terms under which the subordination will occur, protecting the rights of all parties involved. 2. Lease Subordination Agreement with Release of Lien as to Leasehold Estate: This agreement is often used when the leasehold tenant wants to obtain financing secured by the leasehold estate. By entering into this agreement, the tenant subordinates their leasehold interest to the new loan or lien, giving the lender priority in the event of default or foreclosure. 3. Construction Lien Subordination Agreement with Release of Lien as to Leasehold Estate: When a property is being constructed or improved and construction liens are filed against it, this agreement allows for the subordination of those liens to a new loan or lien on the leasehold estate. This protects the lender's interest and ensures that the construction project can proceed without the liens impeding its progress. In summary, an Oklahoma subordination agreement with release of lien as to leasehold estate is a legal document that establishes the priority of interests in a leasehold property. It can be used in various scenarios, such as refinancing, obtaining additional financing, or dealing with construction liens. These agreements protect the rights and interests of all involved parties and ensure a smooth transaction.
