Clark Nevada Sample Subordination, Nondisturbance and Attornment Agreement

• Category: Corporations - Public
• State: Multi-State
• County: Clark
• Control #: US-EG-9472
• Format: Word; Rich Text

Description

Subordination, Non-Disturbance and Attornment Agreement between 233 Broadway Owners LLC, Organic and Lehman Brothers Holding, Inc. regarding assurances of possession of premises dated 00/99. 5 pages. A Clark Nevada Sample Subordination, Nondisturbance and Attornment Agreement is a legal document that outlines the relationship between a tenant, landlord, and lender in a property lease agreement. This agreement is commonly used in commercial leasing scenarios. It protects the rights and interests of all parties involved and ensures smooth operations during any potential changes or transfers of ownership. Keywords: Clark Nevada, Sample Subordination, Nondisturbance, Attornment Agreement, tenant, landlord, lender, property lease agreement, commercial leasing, rights, interests, transfers of ownership. There are generally two types of Clark Nevada Sample Subordination, Nondisturbance and Attornment Agreement: 1. Subordination Agreement: This type of agreement acknowledges that the tenant's leasehold interest is subordinate to the lender's mortgage or deed of trust on the property. In case of any default or foreclosure, the lender's rights take precedence over the tenant's rights. The agreement usually includes provisions regarding the tenant's acknowledgement of the lender's interest and their agreement to attorn to the new owner or lender upon foreclosure. 2. Nondisturbance Agreement: This agreement aims to protect the tenant's rights in case of a foreclosure or transfer of ownership of the property. It ensures that the tenant's lease remains valid and enforceable, even if the property changes hands due to foreclosure or any other reason. The lender agrees not to disturb the tenant's rights and promises not to terminate the lease or interfere with the tenant's possession. 3. Attornment Agreement: An attornment agreement establishes the tenant's obligation to recognize and accept a new landlord or lender in the event of a transfer of ownership. It ensures that the tenant continues to make rental payments to the new owner or lender and acknowledges their authority over the property. The agreement often includes provisions specifying the tenant's agreement to abide by the terms of the lease with the new owner or lender. Overall, a Clark Nevada Sample Subordination, Nondisturbance and Attornment Agreement is crucial for protecting the interests of all parties involved in a commercial leasing arrangement. It ensures that the rights and obligations of the tenant, landlord, and lender are clearly defined and respected even during changes in ownership or foreclosure situations. Disclaimer: The information provided here is for general informational purposes only and does not constitute legal advice. Consult with a qualified attorney for advice on your specific situation.

A Clark Nevada Sample Subordination, Nondisturbance and Attornment Agreement is a legal document that outlines the relationship between a tenant, landlord, and lender in a property lease agreement. This agreement is commonly used in commercial leasing scenarios. It protects the rights and interests of all parties involved and ensures smooth operations during any potential changes or transfers of ownership. Keywords: Clark Nevada, Sample Subordination, Nondisturbance, Attornment Agreement, tenant, landlord, lender, property lease agreement, commercial leasing, rights, interests, transfers of ownership. There are generally two types of Clark Nevada Sample Subordination, Nondisturbance and Attornment Agreement: 1. Subordination Agreement: This type of agreement acknowledges that the tenant's leasehold interest is subordinate to the lender's mortgage or deed of trust on the property. In case of any default or foreclosure, the lender's rights take precedence over the tenant's rights. The agreement usually includes provisions regarding the tenant's acknowledgement of the lender's interest and their agreement to attorn to the new owner or lender upon foreclosure. 2. Nondisturbance Agreement: This agreement aims to protect the tenant's rights in case of a foreclosure or transfer of ownership of the property. It ensures that the tenant's lease remains valid and enforceable, even if the property changes hands due to foreclosure or any other reason. The lender agrees not to disturb the tenant's rights and promises not to terminate the lease or interfere with the tenant's possession. 3. Attornment Agreement: An attornment agreement establishes the tenant's obligation to recognize and accept a new landlord or lender in the event of a transfer of ownership. It ensures that the tenant continues to make rental payments to the new owner or lender and acknowledges their authority over the property. The agreement often includes provisions specifying the tenant's agreement to abide by the terms of the lease with the new owner or lender. Overall, a Clark Nevada Sample Subordination, Nondisturbance and Attornment Agreement is crucial for protecting the interests of all parties involved in a commercial leasing arrangement. It ensures that the rights and obligations of the tenant, landlord, and lender are clearly defined and respected even during changes in ownership or foreclosure situations. Disclaimer: The information provided here is for general informational purposes only and does not constitute legal advice. Consult with a qualified attorney for advice on your specific situation.