Form 402 - Residential Lease - Short Version Page 4
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11. SUBORDINATION: Tenant's rights are subject to any bona fide mortgage
which now covers said premises and which may hereafter be placed on said premises by
Landlord. Tenant shall upon request by Landlord execute a subordination of its rights under
this Rental Agreement to any mortgage given by Landlord hereunder, whether to secure
construction or permanent or other financing. Resident shall upon request by Landlord
promptly execute a certification of good standing certifying the terms of this Rental
Agreement, its due execution, the rental provisions hereof, or the terms of amendments
hereto, if any, and any other information reasonably requested.
12. ADDITIONAL TERMS:
WHEREFORE, the parties have executed this Rental Agreement or caused the
same to be executed by their authorized representative, the day and year first above
written.
THIS IS A LEGALLY BINDING CONTRACT. IF NOT UNDERSTOOD SEEK
COMPETENT LEGAL ADVICE BEFORE SIGNING.
IN WITNESS WHEREOF, the parties hereto have subscribed their names and
affixed their seals in duplicate the day and year above written.
___________________________________ _________________________________
Witness Tenant
___________________________________ _________________________________
Witness Tenant
___________________________________ _________________________________
Witness Landlord
___________________________________ _________________________________
Witness Landlord’s Agent
This Form is made available as a service to the members of the Alabama Association
®
of REALTORS
, Inc. Members should make an independent determination for the need for
such a form. AAR does not recommend or endorse its use or non-use.
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FORM 402 – Residential Lease – Short Version
Last Updated: 12-11-2006
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