This Commercial Property Sublease Agreement is between a tenant currently leasing commercial property and another who will take over the existing lease. This sublease agreement sets forth the address of the commercial premises, the sublease term and amount of monthly rental payments. The terms of this Commercial Property Sublease Agreement will control over those of the original lease.
COMMERCIAL SUBLEASE AGREEMENT
THIS COMMERCIAL SUBLEASE AGREEMENT (the “Commercial sublease Agreement”), made on this___ day of ___________________, 20 _____ by and between ___________________ having an address at ____________________________ _____________________________ (“Sublessor”) and ___________________________________________ having an address at ______________________________________________________________ (“Sublessee”).
WHEREAS, on the _____ day of __________________________, ________ Sublessor has entered into a commercial lease agreement with the Lessor for a period starting from ______________________ and ending on ___________________ (the “Lease”). A copy of this Lease Agreement is attached hereto; and
WHEREAS, Sublessee and Sublessor wish to enter into this Commercial sublease Agreement, where under the Sublessor will sublease the Premises to Sublessee.
Subject to the terms and conditions of this Agreement, Sublessor hereby subleases to Sublessee, and Sublessee hereby subleases from Sublessor, the following Premises:
_________________________________________________________________________________________________________________________________________________________________________________________________________________________________ (the "Premises").
The term of this Commercial sublease shall commence on the ____ day of ______________, _______ and shall continue for an initial term of _____________________ years. Lessee may renew the Lease for an extended term of ______________________ years. Lessee shall exercise such renewal option by giving written notice to Lessor not less than thirty (30) days prior to the expiration of the Initial Term.
Except for the terms and conditions contained in the Lease which are directly contradicted by this Commercial Sublease Agreement, this Commercial Sublease Agreement will be subject to the remaining terms and conditions contained in the Lease. In such an event, the terms of this Commercial sublease Agreement shall control over the Lease. The Sublessee hereby fully agrees acknowledges and agrees to perform all of the Sublessor’s duties and obligations under the Lease.
For the term of this Agreement, the Sublessee shall pay to Sublessor rental of _____________________ per year, payable in installments of $___________________ per month. The monthly payment shall be due in advance on the __________________ day of each calendar month at the following address _____________________________________ _____________________________________________________________ or at such other place designated by written notice from Sublessor.
Any rent payment not made by the ____________________ day of the month shall be considered overdue and in addition to Sublessor's other remedies, Sublessor may levy a late payment charge equal to _____________________ per month on any overdue amount.
Prior to taking possession of the Premises, Sublessee shall pay a security deposit in the amount of $ ___________________________ for the full and faithful performance by the Sublessee of all the terms of this Commercial Sub Lease. This security deposit will be refunded to Sublessee after the expiration of this sublease, provided the Sublessee has fully and faithfully carried out all of its obligations under this Agreement.
Sublessee shall pay directly for all utilities, services and charges provided to the premises, including any and all deposits required.
Sublessee is assigned parking as follows: __________________________________________
Sublessee shall use the premises for _________________________________ purposes only and for no other purpose without Sublessor’s prior written consent. Notwithstanding the forgoing, Sublessee shall not use the Premises for the purposes of storing, manufacturing or selling any explosives, flammables or other inherently dangerous substance, chemical, thing or device.
Sublessor covenants and warrants that upon performance by Sublessee of its obligations hereunder, Sublessor will keep and maintain Lessee in exclusive, quiet, peaceable and undisturbed and uninterrupted possession of the Premises during the term of this sublease.
Sublessee shall at its own expenses make all necessary repairs to the Premises. Such repairs shall include routine repairs of floors, walls, ceilings, and other parts of the Premises damaged or worn through normal occupancy, except for major mechanical systems or the roof, subject to the obligations of the parties otherwise set forth in this Lease.
Either party may terminate this Agreement without cause by giving thirty (30) days written notice to the other party. Upon the expiration or earlier termination of this Agreement, Sublessee shall return the Premises to Sublessor in good repair, condition and working order, ordinary wear and tear resulting from proper use thereof alone excepted.
Sublessee shall indemnify Sublessor against, and hold Sublessor harmless from, any and all claims, actions, suits, proceedings, costs, expenses, damages and liabilities, including reasonable attorney's fees and costs, arising out of, connected with, or resulting from Sublessee's use of the Premises, including without limitation the manufacture, selection, delivery, possession, use, operation, or return of the Premises.
Assignment and Subletting
Sublessee shall not sublet the premises or assign this Agreement without the prior written consent of the Sublessor. Any such attempt to sublet or assignment by Sublessee shall be a breach of this Agreement and cause for immediate termination.
If any part or parts of this Agreement shall be held unenforceable for any reason, the remainder of this Agreement shall continue in full force and effect. If any provision of this Agreement is deemed invalid or unenforceable by any court of competent jurisdiction, and if limiting such provision would make the provision valid, then such provision shall be deemed to be construed as so limited.
This Agreement constitutes the entire agreement between the parties and supersedes any prior understanding or representation of any kind preceding the date of this Agreement. There are no other promises, conditions, understandings or other agreements, whether oral or written, relating to the subject matter of this Agreement. This Agreement may be modified in writing and must be signed by both parties.
This Agreement shall be governed by and construed in accordance with the laws of the state of ______________________.
Any Notice and other communications which either party desires to give the other, may be given either personally or by post through certified mail, to the following address:
The failure of either party to enforce any provisions of this Agreement shall not be deemed a waiver or limitation of that party's right to subsequently enforce and compel strict compliance with every provision of this Agreement. The acceptance of rent by Sublessor does not waive Sublessor’s right to enforce any provisions of this Agreement.
AGREED TO this _____ day of _________, in _________________________, by:
[INSERT NAME AND TITLE] [INSERT NAME AND TITLE]