Subordination of Mortgage. This Lease is subordinate to all underlying leases and to all mortgages of the Development and is subject to the effects of any modification in such underlying lease and mortgages. This means that if those underlying leases or mortgages on the Development are changed, or foreclosure or other proceedings based upon them are brought against the property or the Landlord, the rights of the parties holding such leases or mortgages are greater than Tenant’s rights. The Tenant agrees, upon request at any time, to sign any paper which the Landlord may consider necessary to accomplish that end. If the Tenant does not do so, the Landlord is irrevocably empowered to sign such paper in the name of the Tenant as the act and deed of the Tenant.
Appears in 6 contracts
Samples: Early Lease Termination Settlement Agreement, Housing Lease, Housing Lease Rider
