Common use of Declaration of Subordination Clause in Contracts

Declaration of Subordination. At the option of Lender, 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 Award) to any and all Leases of all or any part of the Premises upon the execution by Lender and recording thereof, at any time hereafter and in the appropriate official records of the county wherein the Real Estate is situated, of a unilateral declaration to that effect.

Declaration of Subordination. At the option of Lender, 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 Awardcondemnation or eminent domain award) to any and all Leases leases of all or any part of the Premises Mortgaged Property upon the execution by Lender and recording thereof, at any time hereafter and hereafter, in the appropriate official records of the county wherein the Real Estate is Premises are situated, of a unilateral declaration to that effect.

Declaration of Subordination. At the option of Lender, 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 Awardcondemnation or eminent domain award) to any and all Leases leases of all or any part of the Premises Mortgaged Property upon the execution by Lender and recording thereof, at any time hereafter and hereafter, in the appropriate official records of the county wherein the Real Estate is Premises are situated, of a unilateral declaration to that effect.