Common use of Subordination to Mortgages and Deeds of Trust Clause in Contracts

Subordination to Mortgages and Deeds of Trust. This Lease shall be subject and subordinate at all times to the lien of any mortgages now or hereafter placed on the land and buildings of which the Leased Premises form a part and also to all renewals, modifications, consolidations and replacements thereof. Although no instrument or act on the part of the Tenant shall be necessary to effectuate such subordination, the Tenant, nevertheless, covenants and agrees to execute and deliver upon demand such further instrument or instruments subordinating this Lease to the lien of any such mortgage or mortgages as shall be desired by any mortgagee or proposed mortgagee. Tenant further acknowledges that the Landlord may be required by any mortgagee or proposed mortgagee to assign this Lease as additional security for any mortgage or proposed mortgages, and Tenant agrees that it will upon demand join with Landlord in the execution of any such assignment or agreement, which may be in form for recording, as any such mortgagee or proposed mortgagee may reasonably require. Tenant's failure to comply on demand with the provisions hereof shall constitute a default under this Lease. Tenant hereby appoints Landlord attorney-in-fact, irrevocably, to execute any such instruments for Tenant.