The Parking Sublease Agreement is essential in situations where a primary lessee wishes to sublease their parking rights to another party in the Philippines. This document is commonly used in commercial buildings, residential complexes, and mixed-use developments where parking space allocation is a significant consideration. The agreement must comply with Philippine civil law, local government regulations, and building management policies. It typically includes detailed provisions about payment terms, security deposits, access protocols, maintenance responsibilities, and liability coverage. This type of agreement is particularly relevant in urban areas where parking space is premium and requires careful legal structuring to protect all parties' interests.
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1. Parties: Identification of the primary lessor, sub-lessor, and sub-lessee with complete details
2. Background: Context of the agreement, including original lease details and authority to sublease
3. Definitions: Key terms used throughout the agreement
4. Grant of Sublease: Specific details of the parking space(s) being subleased and permitted uses
5. Term and Renewal: Duration of the sublease and any renewal options
6. Rent and Payment Terms: Amount, payment schedule, and payment methods
7. Security Deposit: Amount, terms of hold and return conditions
8. Access and Hours of Operation: Details about accessing the parking space and any time restrictions
9. Maintenance and Repairs: Responsibilities for maintaining the parking space
10. Rules and Regulations: Building rules, conduct requirements, and prohibited activities
11. Insurance and Liability: Required insurance coverage and liability limitations
12. Default and Remedies: Events of default and available remedies
13. Termination: Conditions and process for ending the agreement
14. Governing Law and Jurisdiction: Applicable laws and jurisdiction for dispute resolution
1. Additional Services: Details of any additional services provided (e.g., valet, car washing, charging stations)
2. Security Systems: Specific provisions about access cards, remote controls, or security protocols
3. Multiple Space Provisions: Special terms for multiple parking space arrangements
4. Commercial Operations: Additional terms for commercial vehicle parking or business operations
5. Environmental Compliance: Special provisions for electric vehicles or environmental requirements
6. Sublessee Improvements: Terms regarding any permitted modifications to the parking space
7. Assignment and Subletting: Rights and restrictions regarding further subletting or assignment
1. Schedule A - Parking Space Plan: Detailed plan showing the exact location and dimensions of the parking space(s)
2. Schedule B - Building Rules and Regulations: Complete set of building rules affecting parking space use
3. Schedule C - Fee Schedule: Detailed breakdown of all fees, including any additional charges
4. Schedule D - Access Protocol: Detailed procedures for accessing the parking facility
5. Schedule E - Condition Report: Documentation of the parking space condition at commencement
6. Appendix 1 - Original Lease Extract: Relevant portions of the original lease permitting sublease
7. Appendix 2 - Insurance Requirements: Detailed insurance requirements and coverage specifications
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