Subordination to Mortgage. In a foreclosure sale all mortgages which now or in the future affect the Building have priority over this Lease. This means that the holder of a mortgage may end this Lease on a foreclosure sale. The Tenant shall sign all papers needed to give any mortgage priority over this Lease. If the Tenant refuses, the Landlord may sign the papers on behalf of the Tenant.
Appears in 4 contracts
Samples: Business Lease, Lease Agreement (Community Partners Bancorp), Business Lease (Intellesale Com Inc)
Subordination to Mortgage. In a foreclosure sale all mortgages or ground leases which now or in the future affect the Building have priority over this Lease. This means that the holder of a mortgage or ground lease may end this Lease on a foreclosure sale. The Tenant shall sign all papers needed to give any mortgage or ground lease priority over this Lease. If the Tenant refuses, the Landlord may sign the papers on behalf of the Tenant.
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