Common use of Declaration of Subordination Clause in Contracts

Declaration of Subordination. At the option of Mortgagee, this Mortgage shall become subject and subordinate, in whole or in part (but not with respect to priority of entitlement to insurance proceeds or any Condemnation Proceeds), to any and all Leases of all or any part of the Premises upon the execution by Mortgagee and recording thereof, at any time hereafter in the appropriate official records of the County wherein the Premises are situated, of a unilateral declaration to that effect.

Declaration of Subordination. At the option of Mortgagee, which may be exercised at any time or from time to time, by written notice to Mortgagor and to any applicable tenant, this Mortgage shall become subject and subordinate, in whole or in part (but not with respect to priority of entitlement to insurance proceeds or any Condemnation Proceedscondemnation awards), to any and all Leases leases of all or any part of the Premises Real Estate upon the execution by Mortgagee and recording thereof, and filing thereof at any time hereafter in the appropriate official land records of the County wherein the Premises are situated, of a unilateral declaration to that effect.

Declaration of Subordination. At the option of Mortgagee, this Mortgage shall become subject and subordinate, in whole or in part (but not with respect to priority of entitlement to insurance proceeds or any Condemnation Proceedscondemnation proceeds), to any and all Leases leases of all or any part of the Premises Property upon the execution by Mortgagee and recording thereof, at any time hereafter in the appropriate official records of the County wherein the Premises Property are situated, of a unilateral declaration to that effect.

Declaration of Subordination. At the option of the Mortgagee, this Mortgage shall become subject and subordinate, in whole or in part (but not with respect to priority of entitlement to insurance proceeds or any Condemnation Proceedscondemnation proceeds or awards), to any and all Leases Lease of all or any part of the Premises Mortgaged Property upon the execution by the Mortgagee and recording thereof, at any time hereafter in the appropriate official records of the County wherein the Premises are situated, of a unilateral declaration to that effect.

Declaration of Subordination. At the option of Mortgagee, this Mortgage shall become subject and subordinate, in whole or in part (but not with respect to priority of entitlement to insurance proceeds or any Condemnation Proceedscondemnation proceeds), to any and all Leases leases of all or any part of the Premises Property upon the execution by Mortgagee and recording thereof, at any time hereafter in the appropriate official records of the County wherein the Premises Property are situated, of a unilateral declaration to that effect. 53.