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.
Subordination Provision
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Multi-State
Control #:
US-OL20022A
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Word;
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FAQ
Subordination is the tenant's agreement that its interest under the lease will be subordinate to that of the lender.Attornment is the tenant's agreement to become the tenant of someone other than the original landlord and who has now taken title to the property.
A subordinate clause (or dependent clause) is a clause that cannot stand alone as a complete sentence because it does not express a complete thought. Like all clauses, a subordinate clause has a subject and verb.
A subordinate clausealso called a dependent clausewill begin with a subordinate conjunction or a relative pronoun. Like all clauses, it will have both a subject and a verb. This combination of words will not form a complete sentence. It will instead make a reader want additional information to finish the thought.
There are three different kinds of subordinate clauses: adverb clauses, adjective clauses, and noun clauses. Each of these clauses are introduced by certain words.
A subordinate clause has a subject and a verb, but it cannot stand alone as a complete sentence. Let's look at some examples;When she was sick (she=subject; was=verb) Because mom said so (mom=subject; said=verb)
Subordination clauses in mortgages refer to the portion of your agreement with the mortgage company that says their lien takes precedence over any other liens you may have on your property.However, it's also possible to have other liens. You might have some placed by contractors until work is paid off.
Despite its technical-sounding name, the subordination agreement has one simple purpose. It assigns your new mortgage to first lien position, making it possible to refinance with a home equity loan or line of credit.
For example, in the sentence 'I played out until it went dark', the phrase 'until it went dark' is the subordinate clause because it requires additional information in order to make sense. Subordinate clauses contain a subject noun and a verb.
