Landlord Lien Waiver and Collateral Access Agreement
A Standard Document delivered at loan closing by the landlord of a borrower to the borrower's mortgage lender, waiving the landlord's lien rights to personal property, trade fixtures, inventory and equipment belonging to the borrower. This Standard Document discusses due diligence considerations for mortgage lenders, analyzes the creation, perfection and priority of liens and discusses the terms contained in a standard lien waiver and collateral access agreement, including, the lender's right to access and use of the property and removal and sale of the mortgaged collateral. This Standard Document may be used by lenders providing borrowers with financing secured by the borrower's property that is located at the borrower's leased premises. This Standard Document has integrated drafting notes with important explanations and drafting tips for both borrowers and lenders.