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Subordination Agreement Lease

1. Parties. Agreement among [name], a [state] corporation having an office at [address] (Owner), [name], a [state] corporation having an office at [address] (Tenant), and [name], a [state] corporation having an office at [address] (Lender).

2. The Lease. Tenant has executed a lease of a portion of the building located at [address] (which property is more particularly described in Exhibit A [omitted]) (Property). Such lease was executed with Owner and is dated [date] (Lease).

3. The Mortgage. Owner is about to execute a mortgage of the Property in favor of Lender. Such mortgage is dated [date], secures a sum of ---------- dollars ($----------) and is to be recorded in the records, County Clerk of [county, state] (Mortgage).

4. Subordination. In consideration of the loan to be made by Lender to Owner and for other good and valuable consideration to the parties, as contained in this Agreement, Tenant and Owner agree that the Lease, and all rights under the Lease, are subject and subordinate to the lien of the Mortgage (including all extensions and modifications of the Mortgage). This provision is self-operative, but Tenant will deliver any additional instruments required of Tenant to effect such subordination.

5. Attornment. If Lender, or a purchaser on foreclosure, succeeds to Owner's interest in the Property and, at such time, the Lease is in full force, then Tenant will promptly, on request, attorn to Lender or to such purchaser.

6. Nondisturbance. If Tenant is not in default under the lease or the terms of this Agreement, then Lender will not (a) name or join Tenant as a party defendant in any action to foreclose the Mortgage or otherwise act to extinguish the Lease or Tenant's interest under the Lease or (b) disturb Tenant's possession under the Lease. Tenant's rights under the Lease shall not be disturbed in any such foreclosure, and any sale in foreclosure shall be made subject to such Lease. Thereafter, the Lease shall continue as a direct lease between Tenant and Lender (or the purchaser at foreclosure). However, in that event, Lender (or purchaser) is not...

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