Fill and Sign the Subordination Agreement Form 481378491

SUBORDINATION, NON-DISTURBANCE AND ATTORNMENT AGREEMENT THIS AGREEMENT is made and entered into as of the day of ______________, _____, by and among _________________________ (
Tenant") and _________________________ _________________, a ______________________________ (
Lender"), whose principal address is _______________________________________________________, and ___________________________________________________ (
Borrower). RECITALS: A. Lender has agreed to amend and restate a loan (the
Loan") made to Borrower in the amount of $_______________ to be secured by a Deed of Trust (the "Deed of Trust") on the real property legally described in Exhibits _____________________ attached hereto (the "Premises"); B.Tenant is the present lessee under a lease dated ____________ ___, _____, made by _____________________________, ("Landlord"), demising a portion of the Premises and other property (said lease and all amendments thereto being referred to as the "Lease"); C.The Loan terms require that Tenant subordinate the Lease and its interest in the Premises in all respects to the lien of the Deed of Trust and that Tenant attorn to Lender; andD.In return, Lender is agreeable to not disturbing Tenant's possession of the portion of the Premises covered by the Lease (the "Demised Premises"), so long as Tenant is not in default under the Lease.NOW, THEREFORE, in consideration for the mutual covenants contained herein and other consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereby agree as follows: AGREEMENTS: 1.Subordination. The Lease, and the rights of Tenant in, to and under the Lease and the Demised Premises, are hereby subjected and subordinated to the lien of the Deed of Trust and to any modification, reinstatement, extension, supplement, consolidation or replacement thereof as well as any advances or re-advances with interest thereon and to any mortgages or deeds of trust on the Premises which may hereafter be held by Lender. 2.Tenant Not to Be Disturbed. In the event it should become necessary to foreclose the Deed of Trust or Lender should otherwise come into possession of title to the Premises, Lender will not join Tenant in summary or foreclosure proceedings unless required by law in order to obtain jurisdiction, but in such event no judgment foreclosing the Lease will be sought, and Lender will not disturb the use and occupancy of Tenant under the Lease so long as Tenant is not in default under any of the terms, covenants or conditions of the Lease and has not prepaid the rent except monthly in advance as provided by the terms of the Lease.3.Tenant to Attorn to Lender. Tenant agrees that in the event any proceedings are brought for foreclosure of the Deed of Trust, it will attorn to the purchaser as the landlord under the Lease. The purchaser by virtue of such foreclosure shall be deemed to have assumed and agreed to be bound, as substitute landlord, by the terms and conditions of the Lease until the resale or other disposition of its interest by such purchaser, except that such assumption shall not be deemed of itself an acknowledgment by such purchaser of the validity of any then existing claims of Tenant against any prior landlord (including Landlord). All rights and obligations under the Lease shall continue as though such foreclosure proceedings had not been brought, except as aforesaid. Tenant agrees to execute and deliver to any such purchaser such further assurance and other documents, including a new lease upon the same terms and conditions of the Lease, confirming the foregoing as such purchaser may reasonably request. Tenant waives the provisions (i) contained in the Lease or any other agreement relating thereto and (ii) of any statute or rule of law now or hereafter in effect which may give or purport to give it any right or election to terminate or otherwise adversely affect the Lease and the obligations of Tenant thereunder by reason of any foreclosure proceeding. 4. Limitations. Notwithstanding the foregoing, neither Lender nor such other purchaser shall in any event be: (a) liable for any act or omission of any prior landlord (including Landlord); (b)obligated to cure any defaults of any prior landlord (including Landlord) which occurred prior to the time that Lender or such other purchaser succeeded to the interest of such prior landlord under the Lease; (c)subject to any offsets or defenses which Tenant may be entitled to assert against any prior landlord (including Landlord); (d)bound by any payment of rent or additional rent by Tenant to any prior landlord (including Landlord) for more than one month in advance; (e)bound by any amendment or modification of the Lease made without the written consent of Lender or such other purchaser; or (f) liable or responsible for, or with respect to, the retention, application and/or return to Tenant of any security deposit paid to any prior landlord (including Landlord), whether or not still held by such prior landlord, unless and until Lender or such other purchaser has actually received for its own account as landlord the full amount of such security deposit.5. Acknowledgment of Assignment of Lease and Rent. Tenant acknowledges that it 3 has notice that the Lease and the rent and all other sums due thereunder have been assigned or are to be assigned to Lender as security for the Loan secured by the Deed of Trust. In the event that Lender notifies Tenant of a default under the Deed of Trust and demands that Tenant pay its rent and all other sums due under the Lease to Lender, Tenant agrees that it will honor such demand and pay its rent and all other sums due under the Lease directly to Lender or as otherwise required pursuant to such notice.6.Limited Liability. Tenant acknowledges that in all events, the liability of Lender and any purchaser shall be limited and restricted to their interest in the Premises and shall in no event exceed such interest. 7. Lender's Right to Notice of Default and Option to Cure. Tenant will give written notice to Lender of any default by Landlord under the Lease by mailing a copy of the same by certified mail, postage prepaid, addressed as follows (or to such other address as may be specified from time to time by Lender to Tenant): To Lender:Upon such notice, Lender shall be permitted and shall have the option, in its sole and absolute discretion, to cure any such default during the period of time during which the Landlord would be permitted to cure such default, but in any event Lender shall have a period of _________ ( ) days after the receipt of such notification to cure such default; provided, however, that in the event Lender is unable to cure the default by exercise of reasonable diligence within such ( )-day period, Lender shall have such additional period of time as may be reasonably required to remedy such default with reasonable dispatch. Tenant waives the provisions of any statute or rule of law now or hereafter in effect which may give or purport to give it any right or election to terminate or otherwise adversely affect the Lease and the obligations of Tenant thereunder in connection with any foreclosure proceedings.8. Successors and Assigns. The provisions of this Agreement are binding upon and shall inure to the benefit of the heirs, successors and assigns of the parties hereof. 4 IN WITNESS WHEREOF, the parties hereto have executed these presents the day and year first above written.WITNESSED: TENANT:______________________By:___________________________Name: ______________________________________________Title: _________________________LENDER: ______________________By: ___________________________Name: _______________________________________________Title: __________________________The terms of the above Agreement are hereby consented, agreed to and acknowledged.BORROWER: _______________________ By: __________________________Name: _______________________________________________Title: ________________________________________________By:___________________________Name: _______________________________________________Title: ________________________________________________By:___________________________Name: _______________________________________________Title: _________________________ 5 STATE OF ____________COUNTY OF ______________Personally appeared before me, the undersigned authority in and for the said county and state, on this ______ day of ___________________, 20____, within my jurisdiction, the within named __________________, who acknowledged that (he) (she) is ______________ of ________________, a ____________________________, and that for and on behalf of the said corporation, and as its act and deed (he) (she) executed the above and foregoing instrument, after first having been duly authorized by said corporation so to do.____________________________NOTARY PUBLICMy commission expires:_____________________(Affix notarial seal) 6 STATE OF ____________COUNTY OF ________________Personally appeared before me, the undersigned authority in and for the said county and state, on this ______ day of ____________, 20___, within my jurisdiction, the within named _______________________________, who acknowledged that he is a member of ________________________________________, a ______________________________________________, and that for and on behalf of the said ________________________, and as its act and deed he executed the above and foregoing instrument, after first having been duly authorized by said ___________________ so to do.____________________________NOTARY PUBLICMy commission expires:_____________________(Affix notarial seal)STATE OF ____________ 7 COUNTY OF ______________Personally appeared before me, the undersigned authority in and for the said county and state, on this ______ day of ___________, 20___, within my jurisdiction, the within named ___________________________, who acknowledged that he is a member of _______________________________, a __________________________________, and that for and on behalf of the said ___________________________, and as its act and deed he executed the above and foregoing instrument, after first having been duly authorized by said _____________________________ so to do.____________________________NOTARY PUBLICMy commission expires:_____________________(Affix notarial seal) 8 STATE OF ____________COUNTY OF _______________Personally appeared before me, the undersigned authority in and for the said county and state, on this ______ day of _____________, 20___, within my jurisdiction, the within named _____________________________, who acknowledged that he is a member of ___________________________, a _________________________________, and that for and on behalf of the said ____________________________, and as its act and deed he executed the above and foregoing instrument, after first having been duly authorized by said ___________________________ so to do.____________________________NOTARY PUBLICMy commission expires:_____________________(Affix notarial seal) STATE OF __________________ ) COUNTY OF ________________ )On this day of , 20___, before me personally appeared , to me known to be the of _________________________________________, the corporation that executed the within and foregoing instrument, and acknowledged the said instrument to be the free and voluntary act and deed of said __________________, for the uses and purposes therein mentioned, and on oath stated that he/she was authorized to execute said instrument. IN WITNESS WHEREOF I have hereunto set my hand the day and year first above written.________________________________Notary Public