This office lease form states that the landlord has entered into a certain agreement of lease with the tenant as sublessor. The tenant, as sublessor, has entered into a certain sublease agreement with the sublessee. In the event of termination of the lease, the sublessee agrees to attorn to and accept the landlord as its direct landlord under the lease for the balance then remaining of the term of the Lease, and the sublessee shall assume all of the terms and conditions of the Lease, except that sublessee shall have no liability for any defaults of Tenant prior to the date of attornment.
A Nebraska Nondisturbance and Attornment Agreement with a Landlord is a legal contract that outlines the relationship between a tenant and a landlord, specifically in the context of a property that is subject to a mortgage or other forms of financing. This agreement provides protection to the tenant in case the landlord defaults on their loan obligations or the property is foreclosed upon. In Nebraska, there are generally two types of Nondisturbance and Attornment Agreements with a Landlord: 1. Tenant Nondisturbance Agreement: This agreement is usually requested by the tenant when they enter into a lease agreement with the landlord. It ensures that if the property is foreclosed upon, or the landlord defaults on their mortgage, the tenant's rights to occupancy and their lease terms will be honored by the new owner or the lender who acquires the property. 2. Lender Nondisturbance Agreement: This type of agreement is primarily demanded by the lender providing financing to the landlord. It guarantees that if the property is foreclosed upon, the tenant's rights to occupancy as outlined in their lease agreement will not be disturbed by the lender or new owner. This agreement assures the tenant that their lease will remain intact, even if there is a change in ownership due to foreclosure. The Nebraska Nondisturbance and Attornment Agreement typically include key elements such as: 1. Identification: Clear identification of the tenant, landlord, and lender involved in the agreement. 2. Lease Terms: Reference to the existing lease agreement between the tenant and landlord, including details about the lease term, rent, and any extensions or options available to the tenant. 3. Recognition of Lease: The lender or new owner's acknowledgment of the lease and agreement to honor its terms, protecting the tenant's occupancy rights. 4. Subordination: The tenant agrees that their lease will become subordinate to the lender's mortgage or other financing. This means that if foreclosure occurs, the lender's interest takes precedence over the tenant's rights. 5. Nondisturbance: Confirmation that in the event of foreclosure or change in ownership, the tenant's rights to occupy the property will not be disturbed or terminated. 6. Attornment: The tenant's agreement to recognize any new owner or lender who acquires the property through foreclosure, essentially "attorning" to them as their new landlord. Nebraska Nondisturbance and Attornment Agreements provide a level of security to both tenants and lenders, ensuring that the tenant's rights to occupy the leased property are preserved, even if a foreclosure situation arises. It is essential for both parties to carefully review and understand the terms of the agreement before signing, as it can significantly impact their rights and obligations in case of unforeseen circumstances.
