This office lease form shall be subject and subordinate to all present and future ground leases, overriding leases or underlying leases and/or grants of term of the Land and/or the building or the portion thereof in which the Demised Premises are located. This Section shall be self-operative and no further instrument of subordination shall be required. This form also states that the landlord and the tenant agree to share equally all costs incurred in connection with obtaining any Non-disturbance Agreement from the existing superior lessors or superior mortgagees.
The Iowa Nondisturbance Provision — Tenant Friendly is a legal protection provision that ensures tenant rights and safeguards in the event of a property foreclosure or change in ownership. It is designed to provide security and stability to tenants by preventing their leases from being terminated or substantially modified by new property owners. In Iowa, there are different types of Nondisturbance Provisions that prioritize tenant rights and offer various levels of protection. These provisions are aimed at safeguarding tenants' interests even when the property undergoes significant changes, such as foreclosure or acquisition by a new landlord. Here are some key types of Iowa Nondisturbance Provisions — Tenant Friendly: 1. Automatic Nondisturbance Provision: Also known as a "self-executing" provision, this type ensures that tenants continue to have the right to peacefully enjoy the property and retain their lease agreements following a change in ownership. It automatically goes into effect, offering immediate protection to tenants. 2. Negotiated Nondisturbance Provision: In some cases, tenants may negotiate added protections in their lease agreements. This provision is custom-tailored to meet the specific needs of the tenant and typically sets out detailed clauses regarding the tenant's rights in case of a foreclosure or change in ownership. 3. Incremental Nondisturbance Provision: This type of provision offers increasing levels of protection for tenants based on the length of their lease agreements. For example, a tenant with a longer lease term may have greater rights and protections compared to a tenant with a shorter lease term. 4. Rent Escrow Nondisturbance Provision: This provision ensures that the rental payments made by tenants are not disturbed or put at risk due to the change in ownership or foreclosure. It requires new owners or foreclosing entities to honor and acknowledge tenants' rights to continue their tenancy without facing disruptions in rent collection. 5. Tenant Notification Provision: This provision mandates new property owners or foreclosing entities to notify tenants of any change in ownership or impending foreclosure. It aims to provide transparency to tenants, allowing them to be aware of potential disruptions and seek legal advice to uphold their rights. In summary, the various types of Iowa Nondisturbance Provisions — Tenant Friendly are designed to safeguard tenant rights and create a tenant-friendly environment, ensuring that tenants can confidently and securely continue occupying the property even during ownership changes or foreclosure situations.
