Wayne Michigan Sample Subordination, Nondisturbance and Attornment Agreement

• Category: Corporations - Public
• State: Multi-State
• County: Wayne
• 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. Wayne, Michigan is a city located in Wayne County, Michigan. It serves as a key residential and commercial hub within the state. To protect the rights and interests of various parties involved in real estate transactions, a Wayne Michigan Sample Subordination, Nondisturbance, and Attornment Agreement is commonly utilized. This agreement aims to establish a clear understanding between a tenant, a landlord, and a lender regarding the priority of their respective interests in a property. The Wayne Michigan Sample Subordination, Nondisturbance, and Attornment Agreement typically consists of several key clauses and provisions. Keywords relevant to this type of agreement include: 1. Subordination: This clause addresses the priority of the interests of the parties involved in the transaction. It usually establishes that the rights of the lender (typically the bank or financial institution providing the loan for the property) take precedence over the rights of the tenant. 2. Nondisturbance: This clause guarantees the tenant that their lease agreement will not be disturbed or terminated in the event of default or foreclosure by the landlord. It provides the tenant with a level of security and assurance regarding their continuing occupancy of the property, even if the ownership changes hands. 3. Attornment: This clause deals with the tenant's agreement to recognize and acknowledge a new landlord if the property is sold or transferred. It ensures that the tenant remains bound to the terms and conditions of the lease agreement even after a change in ownership. Although there may not be multiple types of Wayne Michigan Sample Subordination, Nondisturbance, and Attornment Agreements specific to Wayne, Michigan, variations of this type of agreement may exist based on the specific circumstances and requirements of each transaction. It's important to consult legal professionals to ensure the agreement aligns with local regulations and adequately protects the interests of all parties involved.

Wayne, Michigan is a city located in Wayne County, Michigan. It serves as a key residential and commercial hub within the state. To protect the rights and interests of various parties involved in real estate transactions, a Wayne Michigan Sample Subordination, Nondisturbance, and Attornment Agreement is commonly utilized. This agreement aims to establish a clear understanding between a tenant, a landlord, and a lender regarding the priority of their respective interests in a property. The Wayne Michigan Sample Subordination, Nondisturbance, and Attornment Agreement typically consists of several key clauses and provisions. Keywords relevant to this type of agreement include: 1. Subordination: This clause addresses the priority of the interests of the parties involved in the transaction. It usually establishes that the rights of the lender (typically the bank or financial institution providing the loan for the property) take precedence over the rights of the tenant. 2. Nondisturbance: This clause guarantees the tenant that their lease agreement will not be disturbed or terminated in the event of default or foreclosure by the landlord. It provides the tenant with a level of security and assurance regarding their continuing occupancy of the property, even if the ownership changes hands. 3. Attornment: This clause deals with the tenant's agreement to recognize and acknowledge a new landlord if the property is sold or transferred. It ensures that the tenant remains bound to the terms and conditions of the lease agreement even after a change in ownership. Although there may not be multiple types of Wayne Michigan Sample Subordination, Nondisturbance, and Attornment Agreements specific to Wayne, Michigan, variations of this type of agreement may exist based on the specific circumstances and requirements of each transaction. It's important to consult legal professionals to ensure the agreement aligns with local regulations and adequately protects the interests of all parties involved.