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An apartment cooperative will typically be a corporation renting apartments to people who are also owners of stock in the corporation. The apartment complex is owned by the corporation.
Cooperative Apartment Sublease Agreement Sublease Agreement made on the (date), between (Name of Sublessor) of (street address, city, state, zip code), referred to herein as Sublessor, and (Name of Sublessee), of (street address, city, state, zip code), referred to herein as Sublessee. Whereas, Sublessor is a member of (Name of Cooperative Apartment Association), located at (street address, city, state, zip code), hereinafter called the Cooperative; and Whereas, Sublessor leases from the Cooperative a dwelling unit in the Cooperative which Sublessor desires to sublease to Sublessee; and Whereas, Sublessee desires to sublease the dwelling unit, hereinafter called the Premises, from Sublessor. Now, therefore, for and in consideration of the mutual covenants contained in this Agreement, and other good and valuable consideration, the parties agree as follows: I. Unit Leased; Term; Rental Sublessor subleases to Sublessee for use as a dwelling, the Premises known as dwelling unit number (number) in the structure of the Cooperative located at (street address, city, state, zip code), from (date) to (date). As consideration for granting said sublease, Sublessee agrees to pay to Sublessor, as rental, the sum of $____________ per month on the first day of each month (to be paid in advance) beginning (date). Said payments shall be made to Sublessor at (street address, city, state, zip code), or to such other address as Sublessee shall inform Sublessor in writing. If default is made in the payment of any installment of the rent, the whole amount will and shall become immediately due and payable. II. Covenants of Sublessee; Rights of Sublessor and Cooperative A. Sublessee agrees as follows: 1. To pay the rent when and as it shall become due, without demand and without any deduction; 2. To hold the Premises for use as a dwelling for the above stated period; 3. To pay the gas and electric bills for the Premises when and as they become due, making all required deposits with public utility companies; 4. Not to keep or allow to be kept any gasoline or other flammable substance on the Premises; 5. Not to keep or allow to be kept any explosive substance on the Premises; 6. To repair and maintain the plumbing in the Premises; 7. Not to assign this Sublease or sublet the Premises or any part or to use them for any purpose other than as a dwelling; 8. Not to make any structural change of or in the Premises without the prior written consent of Sublessor and the Cooperative; 9. Not to remodel the Premises without the prior written consent of Sublessor and the Cooperative; 10. Not to use the Premises or permit them to be used for any disorderly or unlawful purpose; 11. Not to use the Premises or permit them to be used in any manner reasonably offensive to any other resident of the Premises; 12. Not to keep or allow to be kept any gasoline or other explosive substance on the Premises; and 13. At the expiration of the term, to surrender the Premises in as good order and condition as and when received, with the exception of ordinary wear and tear, fire and other casualties not occurring through the negligence of Sublessee or the agents or guests of Sublessee. B. Sublessor and/or agents of the Cooperative may at all reasonable hours, on prior notice to Sublessee, enter into and on the Premises to make necessary repairs, to protect the Premises from damage, and for all proper purposes. C. Sublessor shall not be liable or responsible for loss or damage of or to any articles or furniture in and on the Premises. D. Sublessor shall not be liable or responsible to repair articles or furniture in and on the Premises. E. Sublessee shall comply with the Bylaws and Rules and Regulations of the Cooperative now existing, or enacted by the Cooperative during the tenancy of Sublessee, and subject to all the terms of the occupancy Agreement made between the Cooperative and Sublessor. F. If Sublessee is adjudicated bankrupt, or makes an assignment for the benefit of creditors, this Sublease Agreement, at the option of Sublessor, shall terminate, and the Premises shall be surrendered to Sublessor, who reserves the right in either of those events to re-enter and repossess the Premises. III. Personal Property Subject to Attachment for Nonpayment It is further agreed between the parties that Sublessee shall not remove, or attempt to remove, any personal property moved into the Premises during the term of this Sublease and until the rent has been fully paid; and further, that any attempt to remove the property shall entitle Sublessor to attach the property for all of the installments of rent, whether due or to become due. IV. Lessor’s Lien It is further agreed by Sublessee that Sublessor shall have a lien on all the personal property of Sublessee moved in and located on the Premises, as and for security for the rent to be paid, as though Sublessee had executed a security agreement to secure Sublessor for the rent to be paid under the terms of this Sublease. V. Effect of Premises Becoming Uninhabitable It is further agreed that if the Premises become uninhabitab
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