Subordination of mortgage clause in lease

[OceanCityGirl]

I am renting a condo that I love. However there is a subjugation of mortgage clause in the lease. I don't remember ever seeing this before. My concern is loss of my lease in the event of sale of property or foreclosure. Here in NJ you have protection against this.
I am afraid they are trying to remove this right. Why? Is this typical or might they be heading for foreclosure? Is this normally in residential leases and should I be concerned? I am planning on signing this tomorrow. We would really like to rent this property.