Subordination Attornment Notice to Landlords Mortgagee Clause Samples
The "Subordination; Attornment; Notice to Landlord’s Mortgagee" clause establishes the relationship between a tenant’s leasehold interest and the rights of the landlord’s mortgage lender. It typically requires the tenant to agree that their lease is subordinate to any current or future mortgages on the property, and to recognize (attorn to) the lender as their new landlord if the lender forecloses. The clause may also require the tenant to provide notice to the lender in the event of certain landlord defaults. This provision ensures that the lender’s interests are protected in the event of foreclosure, while also clarifying the tenant’s obligations and rights if ownership of the property changes due to the landlord’s financing arrangements.
Subordination Attornment Notice to Landlords Mortgagee. (a) This Lease shall be subordinate to any first lien deed of trust, mortgage, or other security instrument (a “Mortgage”), or any ground lease, master lease, or primary lease (a “Primary Lease”), that now or hereafter covers all or any part of the Premises (the mortgagee under any Mortgage or the lessor under any Primary Lease is referred to herein as “Landlord’s Mortgagee”), and Tenant shall within three (3) days after receiving a request from Landlord or Landlord’s Mortgagee, execute such agreements confirming such subordination as such party may reasonably request.
(b) Tenant shall attorn to any party succeeding to Landlord’s interest in the Premises, whether by purchase, foreclosure, deed in lieu of foreclosure, power of sale, termination of lease, or otherwise, upon such party’s request, and shall within three (3) days after receiving such party’s request shall execute such agreements confirming such attornment as such party may reasonably request.
(c) Tenant shall not seek to enforce any remedy it may have for any default on the part of the Landlord without first giving written notice by certified mail, return receipt requested, specifying the default in reasonable detail, to any Landlord’s Mortgagee whose address has been given to Tenant, and affording such Landlord’s Mortgagee a reasonable opportunity to perform Landlord’s obligations hereunder.
Subordination Attornment Notice to Landlords Mortgagee. Subordination . . . . . . . . . . . . . . . . . . . . . . . 8 b. Attornment . . . . . . . . . . . . . . . . . . . . . . . .
Subordination Attornment Notice to Landlords Mortgagee. 12 (a) Subordination........................................... 12 (b) Attornment.............................................. 13 (c) Notice to Landlord's Mortgagee.......................... 13 (d) Landlord's Mortgagee's Protection Provisions....
Subordination Attornment Notice to Landlords Mortgagee. (a) Subordination
Subordination Attornment Notice to Landlords Mortgagee. 16 (a) Subordination 16 (b) Attornment 17
(c) Notice to Landlord's Mortgagee 17 (d) Landlord's Mortgagee's Protection Provisions 17 (e) Subordination, Non-Disturbance and Attornment Agreement 17 13. Rules and Regulations 18
Subordination Attornment Notice to Landlords Mortgagee
