A King Washington Subordination and Attornment Agreement is a legally binding contract that outlines the relationship between a landlord, tenant, and lender in the context of a commercial property lease. This agreement ensures that the lender's rights to the property take priority over the tenant's rights in case of default or foreclosure. Keywords: King Washington Subordination and Attornment Agreement, landlord, tenant, lender, commercial property lease, priority, default, foreclosure. There are different types of King Washington Subordination and Attornment Agreements based on the specific circumstances and parties involved. Some common types include: 1. Tenant Subordination and Attornment Agreement: This agreement typically involves a tenant acknowledging and agreeing to subordinate their leasehold interest to the lender's mortgage interest in the event of default. It provides security to the lender and ensures continuity for the tenant's occupancy. 2. Landlord Subordination and Attornment Agreement: In this type, the landlord agrees to subordinate their rights to the tenant's leasehold interest, acknowledging the lender's priority in case of foreclosure. This protects the tenant's rights and provides them with stability and assurance under the new ownership. 3. Lender Subordination and Attornment Agreement: This agreement is primarily focused on the lender, who acknowledges the existing lease agreement and attorns to the tenant upon foreclosure. Here, the lender ensures they respect the tenant's rights and continue the lease under the new ownership. 4. Landlord-Tenant-Lender Subordination and Attornment Agreement: This comprehensive agreement involves all three parties — the landlord, tenant, and lender. It establishes the priority of rights and obligations between each party, ensuring smooth coordination in case of any default or foreclosure situations. These various types of King Washington Subordination and Attornment Agreements serve to protect the interests of the landlord, tenant, and lender by clearly defining their rights, priorities, and obligations. They provide stability and clarity in complex commercial property leasing situations, minimizing the potential for disputes and ensuring a smooth transition of ownership if necessary.
King Washington Subordination and Attornment Agreement - Landlord - Tenant - Lender
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How to fill out King Washington Subordination And Attornment Agreement - Landlord - Tenant - Lender?
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