Letter of intent to make sublease

Letter of intent to make sublease. _________[year] (Name) (Company) (Address) (City), (State) Dear _________: The purpose of this letter is to cover your intent to lease the 1st and 2nd Floors and Mezzanine of the premises commonly known as (address), coinciding with a certain Indenture of Lease dated _________[year] by and between _________ Realty Co., (state) corporation and _________, for the period expiring _________[year]. The basic terms of this sublease shall be as follows. Item No. 1. —Rental: $_____ per annum payable in advance monthly. Item No. 2. —As additional rental the Sublessee shall pay one-fourth (¼th) of any additional tax increase levied annually, during the term of this sublease over and above that pro rata share of the taxes levied for the years [year] and [year] as they relate to the building as a whole. Item No. 3. —The sublessee shall make all improvements at its expense involved in the rehabilitation of the premises for their use, including the installation of a separate entrance, lobby, show windows and elevator providing access in the (address) building. Item No. 4. —The rentals paid shall be on a gross basis under which the Lessor will pay all general real estate taxes, assessments, insurance and over-all maintenance and operation of the building structurally and otherwise. The Lessor shall provide heat and maintain the two (2) passenger elevators servicing the demised premises. The Lessor shall turn over to the Lessee the existing air conditioning equipment in its present working condition and repair, which equipment shall be maintained by the Sublessee and operated at its expense, providing the electricity and water as required in its operation for its premises and the Third (3rd) Floor. Item No. 5. —Lessor will grant to the Sublessee ninety (90) days rent free from the date of lease execution which shall be no later than _________[year], to cover a portion of the time required in installation, with an anticipated date of occupancy on or before _________[year]. Item No. 6. —Sublessee will maintain the sidewalks and insure its own plate glass. Lessor will likewise maintain its plate glass insurance on the Ground Floor. It is the joint intention of both parties to enter into formal lease contracts embodying the above terms and conditions within reasonable limitations and to proceed with the closing as promptly as possible. Yours very truly, [Company] (s) _________ President Accepted: (s) _________(Seal) (Addressee company) Date: _________[year]