Sublease Agreement
This sublease agreement ("Agreement") is made and entered into this August 21, 2050 (the "Effective Date"), by and between [Your Name] (collectively, the "Sublessor"), and Trace Durgan (the "Sublessee").
1. PREMISES
The Sublessor, being lawfully in possession of certain premises situated at Atlanta, GA 30301, herein leases to Sublessee the Premises, for the term, at the rental, and upon all the conditions set forth herein.
2. TERM
The sublease term will begin on October 1, 2050, and will end on September 30, 2051. After the expiration of the term of this sublease, this agreement will automatically renew under the same terms and conditions as outlined in this agreement, unless and until either the Sublessor or the Sublessee cancels this agreement with written notice.
3. RENT
The individual or entity referred to as the Sublessee is obligated to remit payment to the entity or individual known as the Sublessor. This payment is to be equivalent to the agreed-upon Rent Price, specified in United States dollars and is to be made every month. The timing for each of these monthly payments is specified to be the first day of each corresponding month throughout the entirety of the lease's agreed-upon duration.
4. SECURITY DEPOSIT
Upon the execution of this Agreement, Sublessee will deposit with Sublessor the sum of $2,000, receipt of which is hereby acknowledged by Sublessor, as security for any damage caused to the Premises during the term hereof.
5. UTILITIES
In the absence of any provision within this Agreement that stipulates otherwise, the responsibility of ensuring payment for all utilities and services related to the Premises will be borne by the Sublessee.
6. INSURANCE
The individual or party who is identified as the Sublessee must ensure that adequate insurance coverage is maintained. This insurance should be of a sufficient amount to cover the entirety of the personal property that is situated on the premises being leased by the Sublessee. In the event of any damage sustained by such personal property, it is important to note that the Sublessor will not be held accountable or deemed responsible in any manner.
7. GOVERNING LAW
This Agreement shall be governed by and construed by the laws of the state of Georgia.
IN WITNESS WHEREOF, the parties have executed this Agreement as of August 21, 2050.
[Your Name]
[Your Company Name]
Trace Durgan
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