Contra Costa California Sample Subordination, Nondisturbance and Attornment Agreement

• Category: Corporations - Public
• State: Multi-State
• County: Contra Costa
• 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. Contra Costa County, located in the state of California, offers a variety of legal agreements to ensure a smooth relationship between landlords and tenants. One such agreement is the Contra Costa California Sample Subordination, Nondisturbance, and Attornment Agreement. Also known as an SODA agreement, it outlines the rights and responsibilities of parties involved in a property lease, particularly during any potential changes in ownership or foreclosure. The Contra Costa California Sample Subordination, Nondisturbance, and Attornment Agreement safeguards the tenant's rights in case the landlord defaults on their loan payments or experiences foreclosure. This legal document aims to protect the tenant's leasing rights and occupancy even in the face of unforeseen circumstances. Key elements included in the Contra Costa California Sample Subordination, Nondisturbance, and Attornment Agreement are as follows: 1. Subordination: The agreement establishes that the tenant's leasehold interest is subordinate to the landlord's lender's mortgage, meaning that if the landlord defaults on their loan obligations, the lender can foreclose on the property, potentially terminating the lease. However, this provision ensures that the tenant recognizes this subordinate position but also secures certain rights to avoid immediate eviction. 2. Nondisturbance: This provision guarantees that if the lender does foreclose on the property, the tenant's lease will remain valid and undisturbed. The lender agrees not to interfere with the tenant's right to occupy and enjoy the leased premises, as long as the tenant complies with all lease obligations. 3. Attornment: The attornment provision obliges the tenant to recognize the lender as the new landlord in the event of foreclosure or a change in ownership. The tenant agrees to continue paying rent and fulfill other lease obligations to the new landlord without interruption despite the change in ownership. By signing the Contra Costa California Sample Subordination, Nondisturbance, and Attornment Agreement, both the tenant and the lender protect their interests. The tenant retains the right to occupy the leased premises and ensures that a change in ownership or foreclosure will not result in an immediate eviction or lease termination. The lender gains assurance that the tenant will continue paying rent and honoring the lease even after the transfer of ownership. While there might not be different types of Contra Costa California Sample Subordination, Nondisturbance, and Attornment Agreements, each specific agreement may vary depending on the parties involved and the specific terms and conditions set forth by law and the contract itself.

Contra Costa County, located in the state of California, offers a variety of legal agreements to ensure a smooth relationship between landlords and tenants. One such agreement is the Contra Costa California Sample Subordination, Nondisturbance, and Attornment Agreement. Also known as an SODA agreement, it outlines the rights and responsibilities of parties involved in a property lease, particularly during any potential changes in ownership or foreclosure. The Contra Costa California Sample Subordination, Nondisturbance, and Attornment Agreement safeguards the tenant's rights in case the landlord defaults on their loan payments or experiences foreclosure. This legal document aims to protect the tenant's leasing rights and occupancy even in the face of unforeseen circumstances. Key elements included in the Contra Costa California Sample Subordination, Nondisturbance, and Attornment Agreement are as follows: 1. Subordination: The agreement establishes that the tenant's leasehold interest is subordinate to the landlord's lender's mortgage, meaning that if the landlord defaults on their loan obligations, the lender can foreclose on the property, potentially terminating the lease. However, this provision ensures that the tenant recognizes this subordinate position but also secures certain rights to avoid immediate eviction. 2. Nondisturbance: This provision guarantees that if the lender does foreclose on the property, the tenant's lease will remain valid and undisturbed. The lender agrees not to interfere with the tenant's right to occupy and enjoy the leased premises, as long as the tenant complies with all lease obligations. 3. Attornment: The attornment provision obliges the tenant to recognize the lender as the new landlord in the event of foreclosure or a change in ownership. The tenant agrees to continue paying rent and fulfill other lease obligations to the new landlord without interruption despite the change in ownership. By signing the Contra Costa California Sample Subordination, Nondisturbance, and Attornment Agreement, both the tenant and the lender protect their interests. The tenant retains the right to occupy the leased premises and ensures that a change in ownership or foreclosure will not result in an immediate eviction or lease termination. The lender gains assurance that the tenant will continue paying rent and honoring the lease even after the transfer of ownership. While there might not be different types of Contra Costa California Sample Subordination, Nondisturbance, and Attornment Agreements, each specific agreement may vary depending on the parties involved and the specific terms and conditions set forth by law and the contract itself.