The Parking Sublease Agreement is a specialized legal instrument used when a primary tenant wishes to sublease their parking rights to another party. This document is particularly relevant in Indian urban centers where parking spaces are valuable assets and often subject to complex commercial arrangements. The agreement must comply with Indian contract law, property law, and local municipal regulations while addressing specific requirements of parking facility management. It typically includes detailed provisions for space identification, access rights, maintenance responsibilities, insurance requirements, and payment terms. The document becomes especially important in commercial complexes, office buildings, and mixed-use developments where parking space allocation and management are crucial operational considerations.
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1. Parties: Identifies and provides full details of the sublessor and sublessee, including names, addresses, and contact information
2. Background: Explains the context of the agreement, including details of the master lease and authority to sublease
3. Definitions: Defines key terms used throughout the agreement
4. Premises Description: Detailed description of the parking space(s) being subleased, including location, dimensions, and identification numbers
5. Term and Renewal: Specifies the duration of the sublease and any renewal options
6. Rent and Payment Terms: Details the rent amount, payment schedule, security deposit, and payment methods
7. Use and Access: Specifies permitted use of the parking space and access arrangements
8. Maintenance and Repairs: Outlines responsibilities for maintaining the parking space
9. Insurance and Liability: Details insurance requirements and allocation of risks
10. Default and Termination: Specifies events of default and termination procedures
11. Governing Law: Specifies that Indian law governs the agreement
12. Dispute Resolution: Outlines the process for resolving disputes
13. Notices: Specifies how formal notices should be given between parties
1. Security Systems: Include when the parking facility has specific security systems or access control mechanisms
2. Vehicle Restrictions: Include when there are specific restrictions on vehicle types or sizes
3. Charging Facilities: Include when electric vehicle charging facilities are part of the sublease
4. Valet Services: Include when valet parking services are provided
5. Shared Space Provisions: Include when the parking space is shared with others during specific times
6. Environmental Compliance: Include when there are specific environmental requirements or concerns
7. Operating Hours: Include when access to the parking space is restricted to specific hours
8. Subletting Prohibition: Include when further subletting needs to be explicitly prohibited
1. Schedule 1 - Plan of Parking Space: Detailed plan or drawing showing the exact location and dimensions of the parking space
2. Schedule 2 - Master Lease Excerpt: Relevant excerpts from the master lease affecting the sublease
3. Schedule 3 - Maintenance Schedule: Details of maintenance responsibilities and schedules
4. Schedule 4 - Building Rules: Applicable building rules and regulations regarding parking
5. Schedule 5 - Fee Schedule: Detailed breakdown of all fees, including any additional charges
6. Appendix A - Access Card Procedures: Procedures for obtaining and using access cards or keys
7. Appendix B - Emergency Procedures: Emergency protocols and contact information
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