This Lease Subordination Agreement is a lienholder's lien that was created by a (Mortgage/Deed of Trust) and is subordinated to a mineral/oil/gas lease and lienholder releases, said Leasehold from all liens created by said (Mortgage/Deed of Trust), and all extensions and renewals of such liens. Lienholder retains all rights under the (Mortgage/Deed of Trust) against any royalty interest reserved by the lessor in and payable under the terms of the lease, or any of lessor's reversionary interests on the termination or expiration of the lease.
Subordination means an agreement to put a debt or claim which has priority in a lower position behind another debt, particularly a new loan. A property owner with a loan secured by the property who applies for a second mortgage to make additions or repairs usually must get a subordination of the original loan so the new loan has first priority. A declaration of homestead must always be subordinated to a loan.
A Green Bay Wisconsin Lease Subordination Agreement is a legal document that establishes a hierarchical order of leases for a property in Green Bay, Wisconsin. This agreement outlines the rights and priorities of tenants in relation to their leases and their position in the event of default or foreclosure. Keywords: Green Bay Wisconsin, lease subordination agreement, legal document, hierarchical order, property, rights, priorities, tenants, default, foreclosure. There are several types of Green Bay Wisconsin Lease Subordination Agreements, including: 1. Commercial Lease Subordination Agreement: This type of agreement is specifically tailored for commercial properties in Green Bay, Wisconsin. It outlines the subordination of leases for commercial tenants and ensures their legal protection and interests in the event of any defaults or foreclosure proceedings. 2. Residential Lease Subordination Agreement: This agreement is designed for residential properties in Green Bay, Wisconsin. It dictates the subordination of residential leases and protects the rights and interests of tenants in cases of default or foreclosure. 3. Land Lease Subordination Agreement: This type of Green Bay Wisconsin Lease Subordination Agreement is applicable when the property involved is a land lease. It establishes the hierarchy of leases for tenants utilizing the land and outlines their rights and priorities in cases of default or foreclosure. 4. Retail Lease Subordination Agreement: This agreement is specific to retail properties in Green Bay, Wisconsin. It determines the order of lease subordination for tenants operating retail businesses and governs their rights and interests should any defaults or foreclosure situations arise. Overall, a Green Bay Wisconsin Lease Subordination Agreement serves as a vital legal tool to establish the prioritization of leases and protect the rights and interests of tenants in Green Bay, Wisconsin, across various property types such as commercial, residential, land, and retail.A Green Bay Wisconsin Lease Subordination Agreement is a legal document that establishes a hierarchical order of leases for a property in Green Bay, Wisconsin. This agreement outlines the rights and priorities of tenants in relation to their leases and their position in the event of default or foreclosure. Keywords: Green Bay Wisconsin, lease subordination agreement, legal document, hierarchical order, property, rights, priorities, tenants, default, foreclosure. There are several types of Green Bay Wisconsin Lease Subordination Agreements, including: 1. Commercial Lease Subordination Agreement: This type of agreement is specifically tailored for commercial properties in Green Bay, Wisconsin. It outlines the subordination of leases for commercial tenants and ensures their legal protection and interests in the event of any defaults or foreclosure proceedings. 2. Residential Lease Subordination Agreement: This agreement is designed for residential properties in Green Bay, Wisconsin. It dictates the subordination of residential leases and protects the rights and interests of tenants in cases of default or foreclosure. 3. Land Lease Subordination Agreement: This type of Green Bay Wisconsin Lease Subordination Agreement is applicable when the property involved is a land lease. It establishes the hierarchy of leases for tenants utilizing the land and outlines their rights and priorities in cases of default or foreclosure. 4. Retail Lease Subordination Agreement: This agreement is specific to retail properties in Green Bay, Wisconsin. It determines the order of lease subordination for tenants operating retail businesses and governs their rights and interests should any defaults or foreclosure situations arise. Overall, a Green Bay Wisconsin Lease Subordination Agreement serves as a vital legal tool to establish the prioritization of leases and protect the rights and interests of tenants in Green Bay, Wisconsin, across various property types such as commercial, residential, land, and retail.
