A San Diego California Subordination and Attornment Agreement is a legally binding document that establishes the rights and obligations between the landlord, tenant, and lender in a specific property transaction. This agreement typically applies to commercial real estate leases and aims to protect the interests of all involved parties. Keywords: San Diego California, Subordination and Attornment Agreement, Landlord, Tenant, Lender, commercial real estate, rights and obligations, property transaction, interests. Types of San Diego California Subordination and Attornment Agreements: 1. Commercial Lease Subordination and Attornment Agreement: This type of agreement is utilized when a commercial tenant wishes to secure financing against the leased property. It establishes the priority of the tenant's lease in relation to any future lenders or mortgage holders. 2. Landlord Subordination and Attornment Agreement: In this scenario, the landlord of a commercial property agrees to subordinate their position to that of a lender who will provide financing to the tenant. This agreement ensures that the lender has the first claim on the property in case of default. 3. Tenant Subordination and Attornment Agreement: When a tenant desires to secure financing for their business operations, this agreement is used to establish the priority of the lender's claim in case of default, in relation to the tenant's lease. 4. Triple Net Lease Subordination and Attornment Agreement: This type of agreement is specific to triple net leases, wherein the tenant agrees to pay all operating expenses in addition to rent. The subordination and attornment agreement clarifies the relationship between the tenant, landlord, and lender regarding lease terms and property claims. 5. Subordinated Ground Lease Subordination and Attornment Agreement: This agreement applies to situations where the tenant holds a long-term ground lease for the property and later seeks financing. It establishes the rights and obligations of the tenant, landlord, and lender, while ensuring the lender's priority in case of default. In conclusion, a San Diego California Subordination and Attornment Agreement is a crucial document in commercial real estate transactions. It serves to protect the interests of the landlord, tenant, and lender by clearly defining their rights and obligations, particularly concerning the priority of claims on the property.
San Diego California Subordination and Attornment Agreement - Landlord - Tenant - Lender
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