Common use of Rights in Property Clause in Contracts

Rights in Property. The lien of any lender(s) of loans secured by the University’s interest in the Apartment Community will be superior to Resident’s rights as a tenant under this Contract. Therefore, if the University violates the loan and a lender becomes the owner of University’s interest in the Apartment Community, such lender may terminate this Contract or it may elect to continue this Contract. Resident’s rights under this Contract are therefore subject to the rights of the lender(s) of loans secured by the University’s interest in the Apartment Community.

Rights in Property. The lien of any lender(s) of loans secured by the University’s interest in the Apartment Community will be superior to Resident’s rights as a tenant under this ContractLease. Therefore, if the University violates the loan and a lender becomes the owner of University’s interest in the Apartment Community, such lender may terminate this Contract Lease or it may elect to continue this ContractLease. Resident’s rights under this Contract Lease are therefore subject to the rights of the lender(s) of loans secured by the University’s interest in the Apartment Community.

Rights in Property. The lien of any lender(s) of loans secured by the University’s interest in the Apartment Community will be superior to ResidentLeaseholder’s rights as a tenant under this ContractLease. Therefore, if the University violates the loan and a lender becomes the owner of University’s interest in the Apartment Community, such lender may terminate this Contract Lease or it may elect to continue this ContractLease. ResidentLeaseholder’s rights under this Contract Lease are therefore subject to the rights of the lender(s) of loans secured by the University’s interest in the Apartment Community.