Common use of Mortgage Priority Clause in Contracts

Mortgage Priority. This lease shall not be a lien against the said premises in respect to any mortgages that may hereafter be placed upon said premises. The recording of such mortgage shall have preference and precedence and be superior and prior in lien to this lease, irrespective of the date of recording. The Tenant agrees to execute any instruments, without cost, which may be deemed necessary or desirable, to effect the subordination of this lease to any such mortgage provided said mortgagee executes a subordination, nondisturbance and attornment agreement in a form satisfactory to Tenant. A refusal by the Tenant to execute such instruments shall entitle the Landlord to cancel this lease. The term hereof is expressly limited accordingly.

Mortgage Priority. This lease shall not be a lien against the said premises in respect to any mortgages that may hereafter be placed upon said premises. The recording of such mortgage shall have preference and precedence and be superior and prior in lien to this lease, irrespective of the date of recording. The Tenant agrees to execute any instruments, without cost, which may be deemed necessary or desirable, to effect the subordination of this lease to any such mortgage provided said mortgagee executes a subordination, nondisturbance and attornment agreement in a form satisfactory to Tenant. A refusal by the Tenant to execute such instruments shall entitle the Landlord to cancel this lease. The term hereof is expressly limited accordingly.

Mortgage Priority. This lease Lease shall not be a lien against the said premises Property in respect to any mortgages that are now or may hereafter be placed upon said premisesProperty. The recording of such mortgage or mortgages shall have preference and precedence and be superior and prior in lien to this leaseLease, irrespective of the date of recording. The , and the Tenant agrees to execute any instruments, without costcosts, which may be deemed necessary or desirable, to further effect the subordination of this lease Lease to any such mortgage provided said mortgagee executes a subordination, nondisturbance and attornment agreement in a form satisfactory to Tenantor mortgages. A refusal by the Tenant to execute such instruments shall entitle the Landlord to cancel the option of canceling this lease. The Lease, and the term hereof is hereby expressly limited accordingly.