Commercial Sublease Agreement Template - Tennessee Association of Realtors - Tennessee

ADVERTISEMENT
COMMERCIAL SUBLEASE AGREEMENT
For and in consideration of the mutual covenants set forth herein and other good and valuable consideration, the receipt and
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sufficiency of which is hereby acknowledged,
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________________________________________________________________________ the undersigned tenant (hereinafter
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“Tenant”), and ___________________________________________________________________________ the undersigned
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subtenant (hereinafter “Subtenant”), enter into this Commercial Sublease Agreement (hereinafter “Sublease” or
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“Agreement”) this ______ day of __________________________, ___________ (“Binding Agreement Date”). Tenant
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leases to Subtenant, and Subtenant leases from Tenant, the Property described as follows: Suite(s) ________ in the Building
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or Complex, commonly known as _________________________________________________________________________
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(hereinafter “Building” or “Complex”), located on all that tract of land known as:
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____________________________________________________________________________________________(Address),
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_________________________________(City), Tennessee, ________(Zip), as recorded in ________________ County
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Register of Deeds Office, ___________________ deed book(s) ____________________page(s), or _________________
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instrument no. and further described as:
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____________________________________________________________________________________________________
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all being hereinafter collectively referred to as the “Subleased Premises”, and being more particularly described in the lease
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agreement dated ____________ between __________________________________________________________(hereinafter
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“Landlord”) and ____________________________________________________________ (hereinafter “Tenant”). A copy
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of the aforementioned lease between Landlord and Tenant (“Lease”) is attached as Exhibit “______” and incorporated herein.
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1.
Term. Tenant hereby subleases to Subtenant the Subleased Premises for a term ("Term") which commences on
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______________ (the “Commencement Date”) through and including ______________ (the “Expiration Date”).
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2.
Subordination. Tenant and Subtenant agree that this Sublease is subject and subordinate to all the terms, covenants and
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conditions of the Lease.
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3.
Incorporation of Terms. The terms, covenants and conditions in the Lease shall constitute the terms, covenants and
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conditions of this Sublease, except to the extent that they are inapplicable hereto or inconsistent herewith. Subtenant
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agrees to be bound by the provisions of the Lease and to assume all of the obligations of Tenant unless specifically
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provided otherwise in this Sublease. The remedies of the parties under this Sublease shall be the same as the respective
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remedies of Landlord and Tenant under the Lease. Subtenant shall not have any rights with respect to the Subleased
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Premises greater than the rights of Tenant under the Lease and Tenant shall have no liability to Subtenant for any matter
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or thing for which Tenant does not have coextensive rights as Tenant under the Lease.
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4.
Possession. If Tenant is unable to deliver possession of the Subleased Premises on the Commencement Date, rent shall
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be abated on a daily basis until possession is granted. If possession is not granted within fourteen (14) days from the
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Commencement Date, Subtenant may terminate this Sublease in which event Tenant shall promptly refund all payments
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and deposits to Subtenant. The aforementioned remedies are the sole remedies recoverable from the Tenant for delays in
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delivery of possession to Subtenant.
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5.
Rent. [Check one. The section not marked shall not be part of this Agreement.]
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Subtenant shall assume Tenant’s obligation to pay rent and all other payments directly to Landlord as provided in
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the Lease. (Collectively "Rent")
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Subtenant shall pay Tenant, without notice or demand, base rent in the sum of
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____________________________________________________ Dollars ($________________) per month ("Base
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st
Rent") on the first (1
) day of each month during the Sublease Term or any renewals or extensions thereof, at the
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address set forth on the Signature Page of this Sublease (or at such other address as may be designated from time to
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nd
time by Tenant in writing). If the Commencement Date begins on the second (2
) through the last day of any
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month, the Rent shall be prorated for that portion of the month and shall be paid at the time of leasing the Subleased
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Premises. Subtenant shall also pay for the following Additional Rent in the same manner as the Base Rent:
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_____________________________________________________________________________________________
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_____________________________________________________________________________________________
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_____________________________________________________________________________________________
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_____________________________________________________________________________________________
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_____________________________________________________________________________________________
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®
Copyright 2012 © Tennessee Association of Realtors
F72 – Commercial Sublease Agreement, Page 1 of 10
Version 1/01/2012
COMMERCIAL SUBLEASE AGREEMENT
For and in consideration of the mutual covenants set forth herein and other good and valuable consideration, the receipt and
1
sufficiency of which is hereby acknowledged,
2
________________________________________________________________________ the undersigned tenant (hereinafter
3
“Tenant”), and ___________________________________________________________________________ the undersigned
4
subtenant (hereinafter “Subtenant”), enter into this Commercial Sublease Agreement (hereinafter “Sublease” or
5
“Agreement”) this ______ day of __________________________, ___________ (“Binding Agreement Date”). Tenant
6
leases to Subtenant, and Subtenant leases from Tenant, the Property described as follows: Suite(s) ________ in the Building
7
or Complex, commonly known as _________________________________________________________________________
8
(hereinafter “Building” or “Complex”), located on all that tract of land known as:
9
____________________________________________________________________________________________(Address),
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_________________________________(City), Tennessee, ________(Zip), as recorded in ________________ County
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Register of Deeds Office, ___________________ deed book(s) ____________________page(s), or _________________
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instrument no. and further described as:
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____________________________________________________________________________________________________
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all being hereinafter collectively referred to as the “Subleased Premises”, and being more particularly described in the lease
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agreement dated ____________ between __________________________________________________________(hereinafter
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“Landlord”) and ____________________________________________________________ (hereinafter “Tenant”). A copy
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of the aforementioned lease between Landlord and Tenant (“Lease”) is attached as Exhibit “______” and incorporated herein.
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1.
Term. Tenant hereby subleases to Subtenant the Subleased Premises for a term ("Term") which commences on
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______________ (the “Commencement Date”) through and including ______________ (the “Expiration Date”).
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2.
Subordination. Tenant and Subtenant agree that this Sublease is subject and subordinate to all the terms, covenants and
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conditions of the Lease.
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3.
Incorporation of Terms. The terms, covenants and conditions in the Lease shall constitute the terms, covenants and
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conditions of this Sublease, except to the extent that they are inapplicable hereto or inconsistent herewith. Subtenant
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agrees to be bound by the provisions of the Lease and to assume all of the obligations of Tenant unless specifically
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provided otherwise in this Sublease. The remedies of the parties under this Sublease shall be the same as the respective
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remedies of Landlord and Tenant under the Lease. Subtenant shall not have any rights with respect to the Subleased
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Premises greater than the rights of Tenant under the Lease and Tenant shall have no liability to Subtenant for any matter
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or thing for which Tenant does not have coextensive rights as Tenant under the Lease.
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4.
Possession. If Tenant is unable to deliver possession of the Subleased Premises on the Commencement Date, rent shall
30
be abated on a daily basis until possession is granted. If possession is not granted within fourteen (14) days from the
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Commencement Date, Subtenant may terminate this Sublease in which event Tenant shall promptly refund all payments
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and deposits to Subtenant. The aforementioned remedies are the sole remedies recoverable from the Tenant for delays in
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delivery of possession to Subtenant.
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5.
Rent. [Check one. The section not marked shall not be part of this Agreement.]
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Subtenant shall assume Tenant’s obligation to pay rent and all other payments directly to Landlord as provided in
36
the Lease. (Collectively "Rent")
37
Subtenant shall pay Tenant, without notice or demand, base rent in the sum of
38
____________________________________________________ Dollars ($________________) per month ("Base
39
st
Rent") on the first (1
) day of each month during the Sublease Term or any renewals or extensions thereof, at the
40
address set forth on the Signature Page of this Sublease (or at such other address as may be designated from time to
41
nd
time by Tenant in writing). If the Commencement Date begins on the second (2
) through the last day of any
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month, the Rent shall be prorated for that portion of the month and shall be paid at the time of leasing the Subleased
43
Premises. Subtenant shall also pay for the following Additional Rent in the same manner as the Base Rent:
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_____________________________________________________________________________________________
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_____________________________________________________________________________________________
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_____________________________________________________________________________________________
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_____________________________________________________________________________________________
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_____________________________________________________________________________________________
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®
Copyright 2012 © Tennessee Association of Realtors
F72 – Commercial Sublease Agreement, Page 1 of 10
Version 1/01/2012
Base Rent and Additional Rent shall be collectively referred to as "Rent".
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Subtenant waives notice and demand as to all payments of Rent due hereunder.
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6.
Termination of Underlying Lease. If the Lease shall be terminated prior to the Expiration Date of this Sublease, this
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Sublease shall thereupon be terminated.
Tenant shall not be liable to Subtenant by reason thereof, unless said
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termination shall have been effected because of a default by the Tenant under the Lease that was not the result of a
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default by Subtenant. Rent and all other obligations hereunder shall be adjusted between the parties as of date of such
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termination.
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7.
Security Deposit.
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A. Security Deposit to be Held by Tenant or Broker. [Check one. The section not marked shall not be a part of this
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Agreement.]
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Tenant Holding Security Deposit.
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(1) Subtenant has paid to Tenant as security for Subtenant’s fulfillment of the conditions of this Sublease a
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security deposit of ________________________________________________________________ Dollars
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($_________________) in
□ cash,
□ money order and/or
check (“Security Deposit”).
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(2) Tenant shall deposit the Security Deposit in Tenant’s general account with Tenant retaining the interest if
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the account is interest bearing. Subtenant acknowledges and agrees that Tenant shall have the right to use
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such funds for whatever purpose Tenant sees fit, and such funds will not be segregated or set apart in any
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manner.
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(3) Subtenant recognizes and accepts the risk of depositing the Security Deposit with Tenant. Subtenant
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acknowledges that Subtenant has not relied upon the advice of any Broker in deciding to pay such Security
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Deposit to Tenant. Tenant and Subtenant acknowledge and agree that:
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(a) Broker has no responsibility for, or control over, any Security Deposit deposited with Tenant;
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(b) Broker has no ability or obligation to insure that the Security Deposit is properly applied or deposited;
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(c) The disposition of the Security Deposit is the sole responsibility of Tenant and Subtenant as herein
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provided; and
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(d) Tenant and Subtenant agree to indemnify and hold harmless Broker and Broker’s affiliated licensees
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against all claims, damages, losses, expenses or liability arising from the handling of the Security
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Deposit by Tenant.
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(4) Tenant shall return Security Deposit to Subtenant, after deducting any sum which Subtenant owes Tenant
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hereunder, or any sum which Tenant may expend to repair arising out of or related to Subtenant’s
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occupancy hereunder, abandonment of the Subleased Premises or default in this Sublease (provided Tenant
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attempts to mitigate such actual damages), including but not limited to any repair, replacement, cleaning or
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painting of the Subleased Premises reasonably necessary due to the negligence, carelessness, accident, or
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abuse of Subtenant or Subtenant’s employees, agents, invitees, guests, or licensees. In the event Tenant
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elects to retain any part of the Security Deposit, Tenant shall promptly provide Subtenant with a written
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statement setting forth the reasons for the retention of any portion of the Security Deposit, including the
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damages for which any portion of the Security Deposit is retained. The use and application of the Security
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Deposit by Tenant shall be at the discretion of the Tenant. Appropriation by Tenant of all or part of the
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Security Deposit shall not be an exclusive remedy for Tenant, but shall be cumulative, and in addition to all
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remedies of Tenant at law or under this Sublease. The Subtenant may not apply the Security Deposit to any
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Rent payment.
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Broker Holding Security Deposit.
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(1) Subtenant has paid to Broker ________________________________________________________(acting
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as “Broker/Holder”) located at _____________________________________________________________
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(Broker/Holder Address) as security for Subtenant’s fulfillment of the conditions of this Sublease
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(“Security Deposit”) ____________________________________________________________ Dollars
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($________________) in □ cash, □ money order and/or
□ check.
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(2) The Broker/Holder shall deposit the Security Deposit in Broker/Holder’s escrow/trust account (with
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__________________________________________ retaining the interest if the account is interest bearing)
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within five (5) banking days from the Binding Agreement Date.
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®
Copyright 2012 © Tennessee Association of Realtors
F72 – Commercial Sublease Agreement, Page 2 of 10
Version 1/01/2012
(3) The Broker/Holder shall disburse the Security Deposit only as follows: (a) upon the failure of the parties to
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enter into a binding Sublease; (b) upon a subsequent written agreement signed by all parties having an
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interest in the funds; (c) upon order of a court or arbitrator having jurisdiction over any dispute involving
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the Security Deposit; (d) upon a reasonable interpretation of this Agreement by Broker/Holder; (e) as
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provided in the General Provisions section below of this Paragraph; or (f) upon the termination of the
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agency relationship between Tenant and Broker, in which event Broker/Holder shall only disburse the
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Security Deposit to another licensed Tennessee Real Estate Broker selected by Tenant, unless otherwise
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agreed to in writing by Tenant and Subtenant, after notice from Tenant to Broker/Holder and Subtenant.
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Prior to disbursing the Security Deposit pursuant to a reasonable interpretation of this Agreement,
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Broker/Holder shall give all parties seven (7) days notice stating to whom and in what amounts the
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disbursement will be made. Any party may object in writing to the disbursement, provided the objection is
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received by the Broker/Holder prior to the end of the seven (7) day notice period. All objections not raised
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in a timely manner shall be waived. In the event a timely objection is made, Broker/Holder shall consider
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the objection and shall do any or a combination of the following: (a) hold the Security Deposit for a
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reasonable period of time to give the parties an opportunity to resolve the dispute; (b) disburse the Security
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Deposit and so notify all parties; and/or (c) interplead the Security Deposit into a court of competent
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jurisdiction. Broker/Holder shall be reimbursed for and may deduct from any funds interpleaded its costs
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and expenses, including reasonable attorney’s fees. The prevailing party in the interpleader action shall be
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entitled to collect from the other party the costs and expenses reimbursed to Broker/Holder. No party shall
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seek damages from Broker/Holder (nor shall Broker/Holder be liable for the same) for any matter arising
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out of or related to the performance of Broker/Holder’s duties under this Security Deposit paragraph.
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B. General Provisions Regarding Security Deposit.
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(1) In the event any Security Deposit check is not honored, for any reason, by the bank upon which it is drawn, the
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holder or Broker/Holder thereof shall promptly notify the Subtenant and Tenant. Subtenant shall have three (3)
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business days after notice to deliver good funds to the holder or Broker/Holder.
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(2) In the event Subtenant does not timely deliver good funds, the Tenant shall have the right to terminate this
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Agreement upon written notice to the Subtenant.
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(3) The entire Security Deposit, if held by Tenant, will be returned to Subtenant within thirty (30) days after the
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Subleased Premises is vacated if:
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(a) The term of the Lease or Sublease has expired or the Sublease has been terminated in writing by the mutual
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consent of both parties;
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(b) All monies due under this Sublease by Subtenant have been paid;
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(c) The Subleased Premises is not damaged and is left in its original condition, normal wear and tear excepted;
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(d) All keys have been returned; and
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(e) Subtenant is not in default under any of the terms of this Sublease.
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8.
Inspection. Subtenant acknowledges that Subtenant has inspected the Subleased Premises and that it is fit for its stated
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use. Subtenant agrees that no representations respecting the Subleased Premises or the condition thereof and no
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promises to alter, decorate, improve, or repair have been made by Tenant, Broker, or their agents unless specified in this
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Sublease.
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9.
Termination/Holding Over. Either party may terminate this Sublease at the end of the Term by giving the other party
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___________ days written notice prior to the end of the Term. If neither party gives notice of termination, a Holding
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Over period shall result. Any Holding Over by the Subtenant of the Subleased Property after the expiration of this
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Sublease shall operate and be construed as a tenancy from month to month only with Base Rent in an amount equal to
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_______% of the Base Rent payable in Paragraph 5 herein unless otherwise stated in this Sublease. All other terms of
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this Sublease will remain in force, subject to the terms of this paragraph. Notwithstanding anything herein, this Sublease
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shall terminate automatically upon the expiration of the Lease.
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10. Sublet and Assignment. Subtenant may not sublet the Subleased Premises in whole or in part or assign this Sublease
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without the prior written consent of Tenant and Landlord. This Sublease shall create the relationship of Tenant and
147
Subtenant between the parties hereto; no estate shall pass out of Tenant and this Sublease shall create a usufruct only.
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11. Default.
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A. Failure to pay Rent or Failure to Reimburse for damages or costs. If Subtenant fails to pay Rent or fails to
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reimburse Tenant or Landlord for any damages, repairs or costs when due, Subtenant shall be deemed to be in
151
default and Tenant shall have the right to terminate this Sublease by giving _______ day written notice to Subtenant
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®
Copyright 2012 © Tennessee Association of Realtors
F72 – Commercial Sublease Agreement, Page 3 of 10
Version 1/01/2012
and to accelerate all remaining payments that Subtenant is required to pay under this Sublease. These payments
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shall be due and payable __________ days after Subtenant receives the aforementioned notice. Tenant and
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Subtenant acknowledge that Tenant shall be damaged by Subtenant’s default, that Tenant’s actual damages are hard
155
to estimate, and that the above amount represents a reasonable pre-estimate of Tenant’s damages rather than a
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penalty. If Tenant accelerates as provided in this subparagraph, it shall seek another Subtenant for the Subleased
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Premises and credit any amounts received to the Subtenant, less the following:
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(1) reimbursement for all expenses incurred as a result of Subtenant’s failure to perform its obligations under the
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Sublease;
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(2) the costs of securing another Subtenant, including, but not limited to, advertising and brokerage commissions;
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and
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(3) the costs of altering, dividing, painting, repairing, and replacing the Subleased Premises to accommodate a new
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Subtenant.
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Tenant’s rights expressed herein are cumulative of any and all other rights expressed in this Sublease. Subtenant
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shall remain liable for Rents from and after any action by Tenant under a proceeding against Subtenant for Holding
166
Over or detainer warrant, whether or not Subtenant retains the right to possession of the Subleased Premises.
167
B. Cure Period. If Subtenant defaults under any term, rule, condition or provision of this Sublease, excluding failure
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to pay Rent or failure to reimburse Tenant for any damages, repairs or costs when due, Tenant shall provide
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Subtenant with written notice of the breach. Subtenant shall have _____ business days ("Cure Period") within
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which Subtenant may cure said breach. In the event that Subtenant has not cured the breach within the Cure Period,
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Tenant may, at his option, terminate this Sublease by delivering written notice thereof to Subtenant and pursue any
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remedies available herein or available to Subtenant at law. In the event that Subtenant cures the breach during the
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aforementioned Cure Period, a second violation of this Sublease within _____ months shall be grounds for the
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Tenant to terminate this Sublease by providing written notice without an additional Cure Period.
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C. All rights and remedies available to Tenant by law or in this Sublease shall be cumulative and concurrent.
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D. In the event that either Subtenant or Tenant hereto shall file suit for breach or enforcement of this Sublease, the
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prevailing party shall be entitled to recover all costs of such enforcement, including reasonable attorney's fees in
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addition to any other remedies available herein or permitted by law.
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12. Estoppel Certificate. Subtenant shall, from time to time, upon Tenant’s request execute, acknowledge, and deliver to
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Tenant, within ten (10) days of such request, a certificate certifying: (a) that this Sublease is unmodified and in full force
181
and effect (or if there has been modification thereof, that the same is in full force and effect as modified and stating the
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nature thereof); (b) that to the best of its knowledge there are no uncured defects on the part of the Tenant (or if any such
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defects exist, a specific description thereof); (c) the date to which any Rents or other charges have been paid in advance;
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and (d) any other reasonable matters requested by Tenant. Tenant and any prospective purchaser or transferee of
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Tenant’s interest hereunder or any then existing or prospective mortgagee or grantee of any deed to secure debt may rely
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on such certificates.
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13. Destruction of Subleased Premises.
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A. If earthquake, fire, storm, or other casualty shall totally destroy (or so substantially damage as to be untenantable)
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the Subleased Premises, Rent shall abate under the same conditions as Rent shall abate under the Lease. If Landlord
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determines restoration will not be completed pursuant to the terms of the Lease and terminates the Lease, this
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Sublease shall terminate, whereupon Rent and all other obligations hereunder shall be adjusted between the parties
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as of date of such destruction. In the event the Landlord elects to complete such restoration, but fails to do so within
193
the period provided for in the Lease, this Sublease may be terminated as of the date provided for in the termination
194
of the Lease.
195
B. If the Subleased Premises are damaged but not rendered wholly untenantable by earthquake, fire, storm, or other
196
casualty, Rent shall abate in such proportion as the Rent shall abate under the terms of the Lease.
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C. Rent shall not abate nor shall Subtenant be entitled to terminate this Sublease if the damage or destruction of the
198
Subleased Premises, whether total or partial, is the result of the negligence of Subtenants, its contractors, employees,
199
agents, invitees, guests, or licensees.
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14. Insurance. Subtenant agrees that during the Sublease Term and any extensions or Hold Overs thereof, Subtenant will
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carry and maintain, at its sole cost, the following types of insurance, in the amounts specified and in the form hereinafter
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provided. All insurance policies procured and maintained herein (other than workers' compensation insurance) shall
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name Landlord, Landlord's property manager(s), Landlord's Broker(s), Landlord's lender, Tenant, and Tenant's property
204
manager(s) as additionally insured, shall be carried with insurance companies licensed to do business in the State of
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®
Copyright 2012 © Tennessee Association of Realtors
F72 – Commercial Sublease Agreement, Page 4 of 10
Version 1/01/2012
Tennessee and having a current financial strength rating in Best's Rating of not less than B+. Such insurance policies or,
206
at Landlord's and/or Tenant's election, duly executed certificates of such policies, accompanied by proof of the payment
207
of the premium for such insurance, shall be delivered to Landlord and Tenant before the earlier of (a) the initial entry by
208
contractor/subcontractor upon the Subleased Premises for the installation of its equipment or improvements, or (b) the
209
Commencement Date of the Sublease. Certificates of renewal of such insurance or copies of any replacement insurance
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policies, accompanied by proof of payment of the premiums for such insurance, shall be delivered to Landlord and
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Tenant at least ten (10) days before the expiration of each respective policy term. Subtenant shall include a provision in
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any and all insurance policies wherein the insurance provider agrees to provide notice to all entities designated as
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additional insureds in the event of nonpayment of premiums or cancellation of policy.
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Subtenant shall comply with all rules and regulations applicable to the Subleased Premises issued by the Tennessee
215
Board of Fire Prevention or by any body hereinafter constituted exercising similar functions. Subtenant shall not
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intentionally do anything, or permit anything to be done, on or about the Subleased Premises that might adversely affect,
217
contravene, or impair any policies of insurance that are in force for the Subleased Premises or any part thereof.
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Subtenant shall pay all costs, damages, expenses, claims, fines or Penalties incurred by Landlord, Tenant or Subtenant
219
because of Subtenant's failure to comply with this Paragraph. Subtenant indemnifies Landlord and Tenant from all
220
liability with reference thereto.
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The following types of insurance are required [Check all that apply. The sections not marked shall not be part of this
222
Agreement.]:
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A. General Commercial Liability Insurance (or reasonable equivalent thereto). Such insurance shall cover
224
Subleased Premises and Subtenant’s use thereof against claims for personal injury, bodily injury or death,
225
property damage and products liability occurring upon, in, or about the Subleased Premises. The limits of such
226
policy shall be in such amounts as Tenant or Landlord may from time to time reasonably require, but in any
227
event
not
less
than
_______________________________________________________
Dollars
228
($______________) for each occurrence. Such insurance shall be endorsed to cover independent contractors
229
and contractual liability. Such insurance shall extend to any liability of Subtenant arising out of the indemnities
230
provided for in this Sublease.
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B. Fire and Extended Coverage Insurance (or reasonable equivalent thereto). Such insurance shall cover
232
Subtenant’s interest in its improvements to the Subleased Premises, and all furniture, equipment, supplies,
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inventory and other property owned, leased, held or possessed by it and contained therein. Such insurance
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coverage shall be in an amount equal to not less than _______________________________________ percent
235
(_____%) of full replacement cost as updated from time to time during the Sublease term. Subtenant shall
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promptly provide Tenant written notice in the event of any damages to persons or property occurring on the
237
Subleased Premises from fire, accident, or any other casualty.
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C. Worker’s Compensation Insurance (or reasonable equivalent thereto). Such insurance shall include
239
coverage as required by applicable law.
240
D. Contractors Insurance (or reasonable equivalent thereto). If Subtenant engages any contractor or
241
subcontractor to construct improvements or perform any other work on the Subleased Premises, Subtenant shall
242
require that such contractor or subcontractor have in force commercial general liability insurance, including
243
personal injury coverage, contractual liability coverage, completed operations coverage, property damage
244
endorsement, and, for any work which is subcontracted, contractors’ protective liability coverage, insuring
245
against any and all liability for injury to or death of a person or persons and for damage to property occasioned
246
by or arising out of such work. The limits of such policy for both damage to property and bodily injury to be in
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such amounts as Tenant and/or Landlord may from time to time reasonably require, but in any event not less
248
than ____________________________________________________________ Dollars ($________________)
249
for each occurrence.
Any such contractor or subcontractor shall also be required to maintain workers’
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compensation insurance as required by applicable law.
251
E. Plate Glass Insurance (or reasonable equivalent thereto). Such insurance shall over all plate glass and any
252
glass signage located on the Subleased Premises.
253
15. Disclaimer. Subtenant and Tenant acknowledge that they have not relied upon any advice, representations or statements
254
of Brokers (including their firms and affiliated licensees) and waive and shall not assert any claims against Brokers
255
(including their firms and affiliated licensees) involving same. Subtenant and Tenant agree that Brokers, their firms and
256
affiliated licensees shall not be responsible for any matter which could have been revealed through a survey, title search
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or inspection of the Subleased Premises; the condition of the Subleased Premises, any portion thereof, or any item
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therein; building products and construction techniques; the necessity or cost of any repairs to the Subleased Premises;
259
hazardous or toxic materials; termites and other wood destroying organisms; the tax or legal consequences of this
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®
Copyright 2012 © Tennessee Association of Realtors
F72 – Commercial Sublease Agreement, Page 5 of 10
Version 1/01/2012

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