This office lease form is a more detailed, more complicated subordination provision stating that subordination is conditioned on the landlord providing the tenant with a satisfactory non-disturbance agreement.
The Phoenix Arizona Detailed Subordination Provision is a legal agreement that outlines the specific terms and conditions regarding the subordination of a mortgage or lien on a property located in Phoenix, Arizona. This provision is commonly used in real estate transactions to clarify the priority of various liens or mortgages on a property. In Phoenix, Arizona, there are different types of Detailed Subordination Provisions, each serving a specific purpose. Some of these include: 1. First Lien Subordination Provision: This type of provision is used when a property owner wants to obtain a new mortgage while keeping their existing one as the first lien. By agreeing to a subordination provision, the existing lender allows their lien to be subordinated to the new mortgage. 2. Second Lien Subordination Provision: In cases where a property owner wants to obtain a second mortgage or line of credit, a second lien subordination provision is used. This provision ensures that the second lien holder's interest is subordinate to the first lien holder's. 3. Intercreditor Subordination Provision: This provision is often used when there are multiple lenders involved in a real estate transaction. It establishes the priority between the different lenders by specifying their respective rights and responsibilities. For example, it may determine how the proceeds from a foreclosure sale will be distributed among the lenders. The Phoenix Arizona Detailed Subordination Provision includes important details, such as the names of the parties involved, a description of the property, the amount of the mortgage or lien, and the terms of the subordination agreement. It also sets forth the conditions under which the subordination may be terminated or modified. It is crucial for all parties involved in a real estate transaction in Phoenix, Arizona, to carefully consider and understand the provisions of the Detailed Subordination Provision. This ensures that the priority of liens or mortgages is clearly established and protects the rights and interests of all involved parties. In conclusion, the Phoenix Arizona Detailed Subordination Provision is a legal agreement that plays a vital role in determining the priority of liens and mortgages in real estate transactions. Its various types, such as First Lien Subordination Provision, Second Lien Subordination Provision, and Intercreditor Subordination Provision, address different scenarios and help establish a clear hierarchy of interests. Understanding and complying with these provisions is essential to protect the rights and interests of all parties involved in a real estate transaction in Phoenix, Arizona.The Phoenix Arizona Detailed Subordination Provision is a legal agreement that outlines the specific terms and conditions regarding the subordination of a mortgage or lien on a property located in Phoenix, Arizona. This provision is commonly used in real estate transactions to clarify the priority of various liens or mortgages on a property. In Phoenix, Arizona, there are different types of Detailed Subordination Provisions, each serving a specific purpose. Some of these include: 1. First Lien Subordination Provision: This type of provision is used when a property owner wants to obtain a new mortgage while keeping their existing one as the first lien. By agreeing to a subordination provision, the existing lender allows their lien to be subordinated to the new mortgage. 2. Second Lien Subordination Provision: In cases where a property owner wants to obtain a second mortgage or line of credit, a second lien subordination provision is used. This provision ensures that the second lien holder's interest is subordinate to the first lien holder's. 3. Intercreditor Subordination Provision: This provision is often used when there are multiple lenders involved in a real estate transaction. It establishes the priority between the different lenders by specifying their respective rights and responsibilities. For example, it may determine how the proceeds from a foreclosure sale will be distributed among the lenders. The Phoenix Arizona Detailed Subordination Provision includes important details, such as the names of the parties involved, a description of the property, the amount of the mortgage or lien, and the terms of the subordination agreement. It also sets forth the conditions under which the subordination may be terminated or modified. It is crucial for all parties involved in a real estate transaction in Phoenix, Arizona, to carefully consider and understand the provisions of the Detailed Subordination Provision. This ensures that the priority of liens or mortgages is clearly established and protects the rights and interests of all involved parties. In conclusion, the Phoenix Arizona Detailed Subordination Provision is a legal agreement that plays a vital role in determining the priority of liens and mortgages in real estate transactions. Its various types, such as First Lien Subordination Provision, Second Lien Subordination Provision, and Intercreditor Subordination Provision, address different scenarios and help establish a clear hierarchy of interests. Understanding and complying with these provisions is essential to protect the rights and interests of all parties involved in a real estate transaction in Phoenix, Arizona.
