SUBLETTING:  Subletting is allowed by shareholders under the following conditions:The shareholder must have lived in the building for at least one year. All sublets must be for a minimum of one year. The sublet applicant must be approved by the Board of Directors; the board may request an interview at their discretion. A shareholders apartment can be sublet for up to three consecutive years; any new sublet within that time must be submitted for approval separately. To be eligible to sublet again, the shareholder must have returned to the building and lived here for one full year. A maximum of seven (10%) apartments can be sublet at one time.The maintenance payment for the apartment will be increased by 12% per month for the duration of the sublet. Sublessees must abide by the same rules as shareholders, and the shareholder must ensure that this occurs. No smoking is permitted in a sublet apartment. Sublessees must maintain renters insurance and the shareholder must continue their homeowners insurance.An apartment may not be sublet to a corporation. An apartment may not be sublet through AirBnB, VRBO or any other apartment sharing service.In the case of an unauthorized sublet, the shareholder may be found in default of the ProprietaryLease, which could result in termination of the Lease (see Section 31 of the Proprietary Lease). In addition, the shareholder will be liable for a fine up to $1,000 and for Coop legal fees.The subletting shareholder should contact the Managing Agent for sublet application forms and procedures and for information about the sublet application fee.Informal, short-term arrangements between shareholders during a renovation or other apartment repairs are permitted.