This office lease form shall be subject and subordinate to all present and future ground leases, overriding leases or underlying leases and/or grants of term of the Land and/or the building or the portion thereof in which the Demised Premises are located. This Section shall be self-operative and no further instrument of subordination shall be required. This form also states that the landlord and the tenant agree to share equally all costs incurred in connection with obtaining any Non-disturbance Agreement from the existing superior lessors or superior mortgagees.
South Dakota Nondisturbance Provision — Tenant Friendly: A Detailed Description The South Dakota Nondisturbance Provision is a legal measure aimed at protecting tenants' rights and providing them with a sense of security and stability in their leases. This provision ensures that tenants can continue their operations undisturbed, even if the landlord's property is foreclosed upon or transferred to a new owner. The Nondisturbance Provision in South Dakota is considered tenant-friendly as it prioritizes the tenant's rights and interests in the event of a change in property ownership or foreclosure. This provision protects the tenant from being evicted or having their lease terminated abruptly due to factors beyond their control. Key Features and Benefits of South Dakota Nondisturbance Provision: 1. Tenant Protection: The provision guarantees that the tenant's right to occupy the premises and fulfill their lease agreement will not be affected by any foreclosure proceedings or changes in property ownership. 2. Lease Continuity: Even if the property is sold or foreclosed, the tenant's lease remains in effect and binding on the new owner. The new owner assumes all obligations and responsibilities previously held by the landlord, ensuring seamless continuation of the lease. 3. Noninterference: The provision prevents the new property owner or the foreclosing party from interfering with the tenant's rights, use, or possession of the premises during the lease term. This protects the tenant from any forced removal or eviction. 4. Obligations and Security Deposit: The new owner is obligated to honor the terms and conditions of the existing lease, including returning the tenant's security deposit at the end of the lease term or in accordance with established regulations. Types of South Dakota Nondisturbance Provision — Tenant Friendly: 1. Foreclosure Nondisturbance Provision: This provision specifies the tenant's rights in the case of foreclosure. It ensures that even if the landlord defaults on their mortgage or faces foreclosure, the tenant can continue their lease until its expiration without any disruption. 2. Sale Nondisturbance Provision: This provision protects the tenant's rights when the property is sold. It guarantees that the new owner cannot evict or terminate the lease unilaterally, providing the tenant with stability and continuity. 3. Transfer of Ownership Nondisturbance Provision: This provision ensures that when the property changes hands, either through sale, inheritance, or transfer, the tenant's lease remains valid, and the new owner assumes all the rights and responsibilities of the previous owner. By including these Nondisturbance Provisions in commercial leases, South Dakota aims to safeguard tenants' interests and provide them with the peace of mind that their business operations will not be disrupted due to external factors such as foreclosure or change in property ownership.South Dakota Nondisturbance Provision — Tenant Friendly: A Detailed Description The South Dakota Nondisturbance Provision is a legal measure aimed at protecting tenants' rights and providing them with a sense of security and stability in their leases. This provision ensures that tenants can continue their operations undisturbed, even if the landlord's property is foreclosed upon or transferred to a new owner. The Nondisturbance Provision in South Dakota is considered tenant-friendly as it prioritizes the tenant's rights and interests in the event of a change in property ownership or foreclosure. This provision protects the tenant from being evicted or having their lease terminated abruptly due to factors beyond their control. Key Features and Benefits of South Dakota Nondisturbance Provision: 1. Tenant Protection: The provision guarantees that the tenant's right to occupy the premises and fulfill their lease agreement will not be affected by any foreclosure proceedings or changes in property ownership. 2. Lease Continuity: Even if the property is sold or foreclosed, the tenant's lease remains in effect and binding on the new owner. The new owner assumes all obligations and responsibilities previously held by the landlord, ensuring seamless continuation of the lease. 3. Noninterference: The provision prevents the new property owner or the foreclosing party from interfering with the tenant's rights, use, or possession of the premises during the lease term. This protects the tenant from any forced removal or eviction. 4. Obligations and Security Deposit: The new owner is obligated to honor the terms and conditions of the existing lease, including returning the tenant's security deposit at the end of the lease term or in accordance with established regulations. Types of South Dakota Nondisturbance Provision — Tenant Friendly: 1. Foreclosure Nondisturbance Provision: This provision specifies the tenant's rights in the case of foreclosure. It ensures that even if the landlord defaults on their mortgage or faces foreclosure, the tenant can continue their lease until its expiration without any disruption. 2. Sale Nondisturbance Provision: This provision protects the tenant's rights when the property is sold. It guarantees that the new owner cannot evict or terminate the lease unilaterally, providing the tenant with stability and continuity. 3. Transfer of Ownership Nondisturbance Provision: This provision ensures that when the property changes hands, either through sale, inheritance, or transfer, the tenant's lease remains valid, and the new owner assumes all the rights and responsibilities of the previous owner. By including these Nondisturbance Provisions in commercial leases, South Dakota aims to safeguard tenants' interests and provide them with the peace of mind that their business operations will not be disrupted due to external factors such as foreclosure or change in property ownership.
