San Bernardino, California, Non-Disturbance, Attornment, Estoppel & Subordination Agreement is a legal document that protects the rights and interests of tenants, lenders, and landlords in commercial real estate transactions within San Bernardino County, California. This agreement ensures that tenants' rights will not be disturbed in the event of default by the landlord or the foreclosure of the property. Non-Disturbance: This clause in the agreement guarantees that if the landlord defaults on their obligations or the property undergoes foreclosure, the tenant's lease agreement will remain in effect, and the tenant will not be disturbed or evicted by the new property owner. Attornment: This clause requires the tenant to recognize and accept a new landlord that may come into possession of the property through foreclosure or transfer. The tenant agrees to continue paying rent and complying with the terms of the lease agreement. Estoppel: Estoppel prevents any party from claiming that certain facts are different from what has been represented or established in the agreement. It ensures that both landlords and tenants cannot later dispute the terms and conditions mentioned in the agreement. Subordination: This clause determines the priority of obligations between different parties involved in the transaction. Usually, lenders include this clause to ensure that their mortgage or lien takes priority over any future leases or claims by tenants. In case of foreclosure, the lender's interest will be secured before the tenants' rights. San Bernardino, California, Non-Disturbance, Attornment, Estoppel & Subordination Agreements are crucial for businesses, tenants, and lenders to protect their interests and ensure stability in commercial real estate transactions. These agreements are recognized by the local legal system and provide a secure framework for all parties involved.
San Bernardino California Non-Disturbance, Attornment, Estoppel & Subordination Agreement
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