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Alberta Sublease Agreement Sample


Alberta Sublease Agreement Sample
THIS SUBLEASE AGREEMENT MADE THIS ____ DAY OF _______________, 20 .
BETWEEN:
BANFF HOUSING CORPORATION
A Municipal Corporation
Pursuant to the Laws of
the Province of Alberta, having
an address at P.O. Box 1260,
110 Bear Street,
Banff, Alberta T1L 1A1
(hereinafter called the "Corporation")
OF THE FIRST PART
- and -
of
Banff, AB T1L
AS JOINT TENANTS
(hereinafter called the "Sub-Lessee")
OF THE SECOND PART
WHEREAS the Corporation is a Municipal Housing Corporation pursuant to the
MUNICIPAL GOVERNMENT ACT and the BUSINESS CORPORATIONS ACT of the
Province of Alberta; and
WHEREAS the Corporation is the Lessee or is entitled to become the Lessee of all those
certain Lands and premises lying and being in the Townsite of Banff (hereinafter called the
"Townsite"), in the Province of Alberta, composed of all those lands and premises described in
Schedule "A" hereto (hereinafter called the "Lands"); and
WHEREAS the Lands are located within a development known as Peyto Place
(hereinafter called the "Development"); and
WHEREAS the Corporation wishes to facilitate the availability of housing in the Town
of Banff for individuals and families who are Bona Fide Residents;
WHEREAS the Corporation has identified that there is a local need for affordable
housing which cannot reasonably be accommodated except by the Sublease contemplated herein;
and
WHEREAS the current fair market value of the Lands as of the date of this Sublease is
the sum set out in Schedule "B" to this agreement; and
WHEREAS this Sublease is granted for consideration below fair market value in order to
assist in making residential Lands available at an affordable level; and
WHEREAS the Corporation is prepared to Sublease the Lands to the Sub-Lessee;
Alberta Sublease Agreement Sample
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