Phoenix Arizona Sample Subordination, Nondisturbance and Attornment Agreement

• Category: Corporations - Public
• State: Multi-State
• City: Phoenix
• 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 subordination, nondisturbance, and attornment agreement, commonly referred to as SODA, is a legal document that outlines the rights and obligations of various parties involved in a real estate transaction. This agreement typically occurs in situations where a tenant leases a property from a landlord who has mortgaged the property to a lender. The SODA agreement ensures that the tenant's lease will not be disrupted by the lender's actions, and it establishes the priority of rights between the lender and the tenant in the event of foreclosure. In Phoenix, Arizona, there are various types of SODA agreements that can be utilized depending on the specific circumstances. These agreements are often tailored to meet the needs of the parties involved and may include additional provisions to address different scenarios. Some different types of SODA agreements in Phoenix, Arizona, may include: 1. Commercial SODA Agreement: This type of agreement is commonly used in commercial real estate transactions, such as retail spaces, office buildings, or industrial properties. 2. Residential SODA Agreement: This agreement is used in residential real estate, typically for multi-family properties or apartment complexes, where tenants are involved. 3. Mortgagee SODA Agreement: Also known as a lender SODA, this agreement focuses on the rights and obligations of the lender, ensuring that they are protected in the event of foreclosure while acknowledging the tenant's rights. 4. Ground Lease SODA Agreement: This agreement applies specifically to ground lease transactions, where the tenant leases the land and builds structures upon it. 5. Subordination Agreement: Although not always combined with an SODA agreement, a subordination agreement is often included to establish the priority of mortgages or liens on the property. In Phoenix, Arizona, SODA agreements play a vital role in real estate transactions, ensuring the smooth functioning of lease agreements and protecting the interests of all parties involved. These agreements provide clarity and legal protection, safeguarding tenants' rights and ensuring lenders' rights are upheld in case of foreclosure. It is recommended to consult with a legal professional experienced in real estate law to ensure that the SODA agreement reflects the specific needs and requirements of the parties involved and complies with local regulations.

A subordination, nondisturbance, and attornment agreement, commonly referred to as SODA, is a legal document that outlines the rights and obligations of various parties involved in a real estate transaction. This agreement typically occurs in situations where a tenant leases a property from a landlord who has mortgaged the property to a lender. The SODA agreement ensures that the tenant's lease will not be disrupted by the lender's actions, and it establishes the priority of rights between the lender and the tenant in the event of foreclosure. In Phoenix, Arizona, there are various types of SODA agreements that can be utilized depending on the specific circumstances. These agreements are often tailored to meet the needs of the parties involved and may include additional provisions to address different scenarios. Some different types of SODA agreements in Phoenix, Arizona, may include: 1. Commercial SODA Agreement: This type of agreement is commonly used in commercial real estate transactions, such as retail spaces, office buildings, or industrial properties. 2. Residential SODA Agreement: This agreement is used in residential real estate, typically for multi-family properties or apartment complexes, where tenants are involved. 3. Mortgagee SODA Agreement: Also known as a lender SODA, this agreement focuses on the rights and obligations of the lender, ensuring that they are protected in the event of foreclosure while acknowledging the tenant's rights. 4. Ground Lease SODA Agreement: This agreement applies specifically to ground lease transactions, where the tenant leases the land and builds structures upon it. 5. Subordination Agreement: Although not always combined with an SODA agreement, a subordination agreement is often included to establish the priority of mortgages or liens on the property. In Phoenix, Arizona, SODA agreements play a vital role in real estate transactions, ensuring the smooth functioning of lease agreements and protecting the interests of all parties involved. These agreements provide clarity and legal protection, safeguarding tenants' rights and ensuring lenders' rights are upheld in case of foreclosure. It is recommended to consult with a legal professional experienced in real estate law to ensure that the SODA agreement reflects the specific needs and requirements of the parties involved and complies with local regulations.