Common use of SUBORDINATION, ATTORNMENT AND NON-DISTURBANCE Clause in Contracts

SUBORDINATION, ATTORNMENT AND NON-DISTURBANCE. a. Tenant agrees that (i) this Lease is, and all of Tenant's rights hereunder are and shall always be, subject and subordinate to any Mortgage now existing or hereafter given by Landlord and to all advances made or to be made thereunder and to the interest thereon, and all renewals, replacements, modifications, consolidations, or extensions thereof; and (ii) that if any of Landlord's Mortgagees or if the purchaser at any foreclosure sale or at any sale under a power of sale or assent to decree contained in any such Mortgage shall at its sole option so request, Tenant will attorn to, and recognize such Mortgagee or purchaser, as the case may be, as landlord under this Lease for the balance then remaining of the Term of this Lease, subject to all terms of this Lease; and (iii) that the aforesaid provisions shall be self-operative, and no further instrument or document shall be necessary unless required by any such Mortgagee or purchaser.

Appears in 6 contracts

Samples: Standard Lease Agreement (Carrollton Bancorp), Standard Lease Agreement (Carrollton Bancorp), Standard Lease Agreement (Carrollton Bancorp)

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