This office lease form is an agreement entered into in connection with a certain loan which the lender has made to the landlord and secured, in part, by a mortgage, assignment of the leases and rents and security agreement on the premises. This form describes the issues of mortgage subordination and a tenants agreement to hold the land as the tenant of a new landlord.
Orange, California Subordination of Mortgage and Attornment Agreement is a legal document that establishes the priority of liens on a property, specifically relating to mortgage loans, in Orange, California. This agreement generally involves three parties: the property owner, the mortgage lender, and a third-party lender or creditor who holds a lien on the property. The purpose of the Subordination of Mortgage and Attornment Agreement is to determine the order in which the mortgage and other liens will be paid off in the event of a foreclosure or sale of the property. This agreement is crucial when the property owner wishes to secure additional financing from a new lender or creditor while the existing mortgage is still in place. There are various types of subordination and attornment agreements that can be applicable in Orange, California, depending on the specific circumstances: 1. Subordination Agreement: A subordination agreement is a legal document that allows a new creditor to establish a lien with a higher priority than an existing mortgage on the property. This agreement ensures that the new creditor's claim will be paid off before the mortgage lender's claim in case of a foreclosure or sale. 2. Non-Disturbance Agreement: A non-disturbance agreement is a type of subordination agreement that primarily protects tenants or lessees in a commercial property. It ensures that the tenant's lease agreement will remain valid and enforceable even if the property is foreclosed upon or sold. 3. Estoppel Certificate: An estoppel certificate is often required by lenders or creditors when a property owner seeks additional financing. It is a document signed by the tenant confirming the terms of the lease agreement, rent payments, and any outstanding defaults. The purpose is to prevent the tenant from claiming different terms or obligations, which might affect the priority of the mortgage or liens. These agreements are essential for lenders, creditors, and property owners in Orange, California, to ensure a clear understanding of lien priorities and protection of their interests. It is advisable for all parties involved to consult with a qualified real estate attorney when drafting or reviewing such agreements to ensure compliance with local laws and regulations.Orange, California Subordination of Mortgage and Attornment Agreement is a legal document that establishes the priority of liens on a property, specifically relating to mortgage loans, in Orange, California. This agreement generally involves three parties: the property owner, the mortgage lender, and a third-party lender or creditor who holds a lien on the property. The purpose of the Subordination of Mortgage and Attornment Agreement is to determine the order in which the mortgage and other liens will be paid off in the event of a foreclosure or sale of the property. This agreement is crucial when the property owner wishes to secure additional financing from a new lender or creditor while the existing mortgage is still in place. There are various types of subordination and attornment agreements that can be applicable in Orange, California, depending on the specific circumstances: 1. Subordination Agreement: A subordination agreement is a legal document that allows a new creditor to establish a lien with a higher priority than an existing mortgage on the property. This agreement ensures that the new creditor's claim will be paid off before the mortgage lender's claim in case of a foreclosure or sale. 2. Non-Disturbance Agreement: A non-disturbance agreement is a type of subordination agreement that primarily protects tenants or lessees in a commercial property. It ensures that the tenant's lease agreement will remain valid and enforceable even if the property is foreclosed upon or sold. 3. Estoppel Certificate: An estoppel certificate is often required by lenders or creditors when a property owner seeks additional financing. It is a document signed by the tenant confirming the terms of the lease agreement, rent payments, and any outstanding defaults. The purpose is to prevent the tenant from claiming different terms or obligations, which might affect the priority of the mortgage or liens. These agreements are essential for lenders, creditors, and property owners in Orange, California, to ensure a clear understanding of lien priorities and protection of their interests. It is advisable for all parties involved to consult with a qualified real estate attorney when drafting or reviewing such agreements to ensure compliance with local laws and regulations.
