My WebLink
|
Help
|
About
|
Sign Out
Home
Browse
Search
5A4 Sublease Agreement 103 W. Colfax (Haunt of Hounds) - Signed
sbend
>
Public
>
Redevelopment Commission
>
Agendas & Packets
>
2025
>
05.22.2025
>
Signed Items
>
5A4 Sublease Agreement 103 W. Colfax (Haunt of Hounds) - Signed
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
5/22/2025 11:30:17 AM
Creation date
5/22/2025 11:30:10 AM
Metadata
Fields
Template:
Dept of Community Investment
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
/
29
PDF
Print
Pages to print
Enter page numbers and/or page ranges separated by commas. For example, 1,3,5-12.
After downloading, print the document using a PDF reader (e.g. Adobe Reader).
Show annotations
View images
View plain text
4 <br />3.2. Renewal Option. Provided that no Event of Default, as hereinafter defined, or any <br />facts which with the giving of notice or passage of time, or both, would constitute an Event of <br />Default, exists at the time of the exercise of any option to renew the Term (the “Renewal Option”) <br />or exists at the end of the Term, Tenant may renew this Sublease for an additional period of two <br />(2) years (the “Extended Term”), on the same terms and provisions as provided in this Sublease, <br />except that the Rent due in the Extended Term shall be negotiated with delivery of written notice <br />of the exercise of such option not later than ninety (90) days before the expiration of the Term. If <br />Tenant fails to exercise its option to extend the Term in the time periods set forth in this Section <br />3.2, Tenant's option to renew shall immediately terminate and have no further force or effect, <br />without further notice from Commission. <br />3.3. Holding Over. If Tenant fails to surrender the Premises upon the expiration of the <br />Term or earlier termination of the Sublease (it being agreed that Tenant shall not be permitted to so <br />hold over without Commission's written consent), Tenant shall pay Commission for each day of <br />such holding over a sum equal to one hundred and fifty percent (150%) of the Rent payable during <br />the preceding Lease Year prorated for the number of days for such holding over, plus all other <br />amounts which Tenant would have been required to pay had this Sublease been in effect (the <br />“Holdover Rent”). If Tenant holds over without Commission's written consent for a period in excess <br />of thirty (30) days without any action from Commission to dispossess Tenant, Tenant shall be <br />deemed to occupy the Premises on a tenancy from month-to-month at the Holdover Rent, and all <br />other terms and provisions of this Sublease shall be applicable to such period. At any time, either <br />Party may terminate such tenancy from month-to-month upon written notice delivered to the other <br />Party at least thirty (30) days in advance. Tenant hereby waives any and all notice to which Tenant <br />may otherwise be entitled under the laws of the State of lndiana (the “State”) as a prerequisite to a <br />suit against Tenant for unlawful detention or possession of the Premises. Tenant shall Indemnify, <br />as hereinafter defined, Commission from any Loss, as hereinafter defined, resulting from such hold <br />over, including without limitation any liability incurred by Commission to any succeeding tenant <br />of the Premises. <br />ARTICLE IV <br />RENT AND COMMON EXPENSES <br />4.1. Rent. <br />(a)The First Rental Amount, Second Rental Amount, and Third Rental Amount, <br />as those terms are defined below, shall collectively be referred to herein as <br />“Rent.” Rent shall be paid to Commission as set forth below, in lawful United <br />States currency without notice, demand, deduction, set-off, counterclaim or <br />recoupment, and without relief from valuation or appraisement laws, in <br />monthly installments commencing on the Effective Date and during the entire <br />Term on or before the first (1st) day of each calendar month, in advance. <br />i.The First Rental Amount is payable and shall commence on the <br />Effective Date (July 1, 2025) and continue until the last day of the <br />twelfth month of the lease term (June 30, 2026) during which Tenant <br />shall pay Base Rent in the sum of Three Thousand and Sixty Dollars
The URL can be used to link to this page
Your browser does not support the video tag.