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This document outlines the Sublease Agreement dated September 1, 2015, between the Nassau County Industrial Development Agency as sublessor and Valley Stream Foreign Cars Inc. as sublessee. It includes detailed provisions regarding the lease of project facilities located at 148 and 164 Sunrise Highway in Valley Stream, New York, encompassing their acquisition, renovation, improvement, installation, and equipping, along with applicable legal and financial stipulations.
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What is sublease agreement?
A sublease agreement is a legal document that allows a tenant (the sublessor) to rent out their leased property to another party (the sublessee) for a specific period while maintaining their original lease with the landlord.
Who is required to file sublease agreement?
Typically, the original tenant (sublessor) is required to file the sublease agreement with the landlord, especially if the original lease agreement has stipulations regarding subletting.
How to fill out sublease agreement?
To fill out a sublease agreement, the sublessor must provide details such as the names of all parties, a description of the leased property, rental terms, duration of the sublease, and any special conditions agreed upon by both parties.
What is the purpose of sublease agreement?
The purpose of a sublease agreement is to legally document the terms under which a tenant can rent their leased property to another person, ensuring that both parties are legally protected and aware of their rights and responsibilities.
What information must be reported on sublease agreement?
The sublease agreement must include the names of the sublessor and sublessee, property address, rental amount, lease duration, obligations of both parties, and any restrictions or special conditions.
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