1. TERM. This Agreement shall start on July 1st, 2025 and will continue through December 31st, 2025. If the Tenant terminates this lease before its expiration date, they shall remain liable for all rent payments due under the lease until the lease term ends, or until a new tenant is found and begins occupying the premises, whichever occurs first.
2. SERVICES. The Subtenant shall be provided with the following as part of this Agreement:
- Key FOB (building access) + Studio Key
- Shared fridge
- Reserved parking space (with additional fee)
- WiFi (with additional fee)
- Safe storage of photography and business equipment
The following items are owned by the Subtenant to be shared with the Tenant and must be kept in good condition by all those who occupy the studio.
- Shared DOSS Bluetooth Speaker
- Shared fridge
- Couch, coffee table, bench, desk, chair, coat stand, plants, various decor, and rugs.
- Two IKEA storage cabinets (one to be used by Tenant & one to be used by Subtenant)
Any damage to or loss of studio property must be reported immediately to both the Tenant and Subtenant.
3. SECURITY DEPOSIT.
The Subtenant, as part of this Agreement and separate from the first payment to the Tenant is required to pay a refundable $200 Security Deposit in order to activate this lease agreement.
4. RATE.
The Tenant agrees to allow the Subtenant to occupy the Premises in exchange for a monthly rate. The Subtenant shall be charged $200/month for the use of the Premises one day a week (Sunday), with the remaining rental rate balance paid by Tenant. All payments will be made on or before the 2nd each month. There is no limitation on the number of hours the Subtenant may occupy the Premises as long as the Subtenant occupies the space on their scheduled studio dates. Utilities (HVAC, water, electric) on average are ~$50/month. If the costs of utilities exceeds $50/month, Tenant will request that Subtenant contribute towards the bill.
The reserved parking space is an additional $100/month, and the cost can be split between the Tenant & Subtenant (if needed). Please note that there is a 30 day notice requirement by management in order to cancel the parking space agreement. WiFi is not included in the rent but can be set up and managed between Tenant and Subtenant (if needed).
5. LATE PAYMENT FEES.
If any payment or charges due by the Subtenant to the Tenant are not made by the 2nd of each month the Tenant shall be charged a $20 late fee and will limit accessibility to the Premises for the Subtenant until paid in full.
6. NOISE LEVEL.
The Subtenant agrees to keep their noise level so as not to interfere with or annoy the other tenants on the Premises. It is required that the common areas be meant to initialize a phone call with any conversations lasting for more than thirty (30) seconds to be handled away from the other tenants.
7. SECURITY.
Access into the building during non-posted public hours will be through a key fob. The building is to be locked at all times. The entrance door in the Premises will be left locked and all windows will be left closed & locked by the Tenant and Subtenant when the Premises is not in use. Before closing and leaving, the Tenant and Subtenant will turn out all lights and lower the shades. Subtenant assumes all risks from theft or vandalism and agrees to keep its Premises locked.
8. OPERATING STANDARDS.
By this Agreement, and all other co-working space agreements on the Premises, the Subtenant and the guests of the Premises agree to the following:
No individual or business may conduct any activity within the Premises that, in the judgment of the Tenant and Landlords, create excessive traffic or be inappropriate to the other subtenant co-working experience;
No individual or business may advertise or have identifying signs or notices that are inscribed, painted, or affixed on any part of the Premises without the express written consent of the Tenant and Landlords;
Subtenant and guests of the Premises shall keep clean any common areas after use.
Subtenant and guests are prohibited from smoking in any area of the Premises.
Subtenant and guests are to operate in a way that is courteous with all other individuals.
The Tenant reserves the right to make other reasonable rules and regulations from time to time to promote a good co-working environment alongside the Subtenant.
9. WAIVER.
The Tenant shall not be liable for any interruption or error in the performance of the services offered under this Agreement. The Subtenant waives all liability against the Tenant for any claims arising from such disruption of services, specifically, any telecommunication utilities on the Premises. Furthermore, any loss, damage, expense, or injuries to persons or the Subtenant’s property arising out of mistakes, omissions, interruptions, delays, errors, or defects in any transmission occurring in the course of furnishing telecommunications services provided are not caused by the willful acts of the Tenant, as well as any claim for business interruption and consequential damage.
Both Parties hereby agree to defend, indemnify and hold harmless from and against any claims, damages, injury, loss and expenses to or of any portion or property resulting from the acts or negligence of their agents, employees, invitees, and/or licensees while on the Premises.
10. DEFAULT.
The Subtenant shall be considered in default if they should violate any portion of this Agreement. If the Subtenant is found to be in violation of this Agreement, the Tenant shall give notice that the violation must be corrected within forty-eight (48) hours or else this Agreement shall be terminated immediately.
11. INSURANCE AND INDEMNIFICATION.
Subtenant shall, at their sole cost and expense, procure and continue in force a Commercial General Liability Insurance policy providing limits of not less than Two Million Dollars ($2,000,000.00) combined single limit of liability applicable to both bodily injury and property damage per occurrence in aggregate. Please list the studio address in your document and Beam Development as a Certificate Holder.
The Tenant and Landlords shall not be liable for any damage or injury to the Subtenant, or any other person/guest, or to any property, occurring on the Premises, or any part thereof, or in common areas thereof, and the Subtenant agrees to hold the Tenant and Landlords harmless from any claims or damages unless caused solely by their negligence.