Common Contracts
2 similar Subordination Agreement contracts
FAILURE TO COMPLY MAY RESULT IN CLOSING DELAYS OR RENDER A LIEN INVALID*Subordination Agreement • June 9th, 2015 • New York
Battery Park City Authority d/b/a Hugh L. Carey Battery Park City Authority (“BPCA”) entered into a lease agreement, dated as of September 30, 1999, (as amended, the “Lease”) with 22 River Terrace L.L.C. The Lease requires that all financing purchasers or refinancing owners (collectively, the “Borrower”), the Board of River & Warren Condominium Residences (the “Board”), BPCA, and ALL banks/lenders (“Mortgagee”) execute a unit mortgage subordination and recognition agreement (the “Subordination Agreement”) (see form attached) which provides that the interest of a Mortgagee with respect to a unit mortgage are subject and subordinate to BPCA’s interest in monies owed with respect to such unit.
Standard Contracts
FAILURE TO COMPLY MAY RESULT IN CLOSING DELAYS OR RENDER A LIEN INVALID*Subordination Agreement • September 25th, 2012 • New York
Battery Park City Authority d/b/a Hugh L. Carey Battery Park City Authority (“BPCA”) entered into a lease agreement, dated as of February 22, 2005, (as amended, the “Lease”) with Millennium BPC II Development, LLC. The Lease requires that all financing purchasers or refinancing owners (collectively, the “Borrower”), the Board of Millennium Tower Residences (the “Board”), BPCA, and ALL banks/lenders (“Mortgagee”) execute a unit mortgage subordination and recognition agreement (the “Subordination Agreement”) (see form attached) which provides that the interest of a Mortgagee with respect to a unit mortgage are subject and subordinate to BPCA’s interest in monies owed with respect to such unit.
