Lease agreement termination agreement

This lease termination agreement is between , an individual a(n) (the "Landlord") and , an individual a(n) (the "Tenant").

The parties have entered into a lease agreement, dated as of (the "Lease"), relating to the premises located at , , , (the "Premises"). A copy of the Lease is attached as Exhibit A.

Under section of the Lease, the parties may terminate the Lease , .

The term of the Lease is scheduled to expire on (the "Expiration Date") and the parties wish to terminate the Lease before the Expiration Date.

The parties therefore agree as follows:

1. TERMINATION.

Effective as of (the "Termination Date"), the parties terminate the Lease. The Lease will be void and of no further binding effect. However, any provision in the Lease that would otherwise survive in accordance with the terms of the Lease will survive the termination of the Lease in accordance with its terms.

2. COMPLIANCE WITH OBLIGATIONS. TERMINATION FEE.

The Tenant is responsible for all of its obligations under the Lease through and including the Termination Date, including the Tenant's obligation to pay monthly rent, additional rent, utility charges, and all other amounts and charges owing under the Lease. On or before the Termination Date, the Tenant shall pay to the Landlord any remaining rent, utility charges, and other charges relating to the Premises that accrued on or before the Termination Date. The Tenant shall indemnify the Landlord against any utility charges or other charges relating to the Premises that are the Tenant's obligation under the Lease and that accrue on or before the Termination Date. On or before the Termination Date, the Tenant shall pay to the Landlord the sum of $ , as full payment for and satisfaction of all amounts and other obligations due under the Lease, including all rent payments, utility and service costs, repair and maintenance obligations, liability for damages, insurance premiums, capital investments, structural repairs, and improvements in the Premises and related costs and expenses, expenses incurred in the removal, destruction, storage, sale, or other disposition of any property left on the Premises after the Termination Date, and all other charges, costs, and expenses incurred by the Landlord as a result of the Tenant's use of the Premises. The Tenant will then have no further obligation to pay money under the Lease. However, if the Tenant remains on the Premises past the Termination Date, the Tenant will be responsible for the full rent after that date.

3. YIELD UP.

On the Termination Date, the Tenant will surrender to the Landlord all of its interest in the Premises. The Tenant shall vacate the Premises on or before 11:59 p.m. on the Termination Date, and leave the Premises in the yield-up condition required under the Lease, which includes leaving the Premises broom clean, free of the Tenant's personal effects and in good condition.

4. SECURITY DEPOSIT.

Under section of the Lease and applicable law, the Landlord is required to remit the security deposit to the Tenant, less deductions for damage. The balance of this security deposit amount has been applied to reduce the amount of the payment otherwise required by section 2 above will be provided to the Tenant in accordance with the terms of the Lease and applicable law .

5. MUTUAL RELEASE OF LIABILITY.

• (a) Effective as of the Termination Date, each party hereby releases any claim it may have against the other party that arises out of the Lease or the Tenant's occupancy and use of the Premises through the Termination Date. Any obligations of the Tenant that are expressly stated to survive expiration or termination of the Lease are not released by this agreement. Neither party's obligations under this agreement are released by this section.
• (b) The Landlord does not waive any claims for indemnification, contribution, or apportionment of claims or liability that are
  • (i) brought against the Landlord by a third party and
  • (ii) result from the Tenant's possession or use of the Premises.
  • A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS WHICH THE CREDITOR DOES NOT KNOW OR SUSPECT TO EXIST IN HIS OR HER FAVOR AT THE TIME OF EXECUTING THE RELEASE, WHICH IF KNOWN BY HIM OR HER MUST HAVE MATERIALLY AFFECTED HIS OR HER SETTLEMENT WITH THE DEBTOR.

  ____________________________________________

  ____________________________________________

  6. RETURN OF PROPERTY.

  Within days after the Termination Date, the Tenant will return all property provided in connection with the Lease (the "Property"), including all keys, access devices, gate cards, garage door openers, and other property owned by the Landlord to the Landlord at the Tenant's expense. The Tenant shall return the Property in good and proper repair, condition, and working order, ordinary wear and tear excepted, advise the Landlord immediately of any loss of or damage to the Property, and, within days after the Termination Date, reimburse the Landlord for all costs and expenses incurred to put the Property into good repair, condition, and working order, if the cause of loss or damage is attributable to the negligence or willful conduct of the Tenant.

  7. LANDLORD'S REPRESENTATIONS.

  The Landlord hereby represents that it is the authorized representative owner of the Premises and of the Landlord's interest in the Lease, with full authority to terminate the Lease.

  8. TENANT'S REPRESENTATIONS.

  The Tenant hereby represents:

  • (a) the Tenant owns and holds the entire interest of the Tenant under the Lease;
  • (b) there are no subleases affecting the Premises or any part of the Premises;
  • (c) the Tenant has not assigned or encumbered its interest under the Lease or any part of the Lease; and
  • (d) there are no contracts for the provision of labor or materials for improvements or alterations on the Premises that are outstanding or that have not been performed and satisfied as of the Termination Date.

  
  9. ADDITIONAL CONDITIONS.

  This agreement is contingent on the following conditions, each of which must be satisfied before the Termination Date. Failure to satisfy any of these conditions will void this agreement, and the Lease will remain valid and enforceable according to its terms: .

  10. GOVERNING LAW.

  • (a) Choice of Law. The laws of the state of govern this agreement (without giving effect to its conflicts of law principles).
  • (b) Choice of Forum. Both parties consent to the personal jurisdiction of the state and federal courts in County, .

  11. AMENDMENTS.

  No amendment to this agreement will be effective unless it is in writing and signed by a party or its authorized representative.

  12. COUNTERPARTS; ELECTRONIC SIGNATURES.

  • (a) Counterparts. The parties may execute this agreement in any number of counterparts, each of which is an original but all of which constitute one and the same instrument.
  • (b) Electronic Signatures. This agreement, agreements ancillary to this agreement, and related documents entered into in connection with this agreement are signed when a party's signature is delivered by facsimile, email, or other electronic medium. These signatures must be treated in all respects as having the same force and effect as original signatures.

  13. SEVERABILITY.

  If any provision contained in this agreement is, for any reason, held to be invalid, illegal, or unenforceable in any respect, that invalidity, illegality, or unenforceability will not affect any other provisions of this agreement, but this agreement will be construed as if the invalid, illegal, or unenforceable provisions had never been contained in it, unless the deletion of those provisions would result in such a material change so as to cause completion of the transactions contemplated under this agreement to be unreasonable.

  14. NOTICES.

  • (a) Writing; Permitted Delivery Methods. Each party giving or making any notice, request, demand, or other communication required or permitted by this agreement shall give that notice in writing and use one of the following types of delivery, each of which is a writing for purposes of this agreement: personal delivery, mail (registered or certified mail, postage prepaid, return-receipt requested), nationally recognized overnight courier (fees prepaid), facsimile, or email.
  • (b) Addresses. A party shall address notices under this section to a party at the following addresses:
  • If to the Landlord:
  • If to the Tenant:
  • (c) Effectiveness. A notice is effective only if the party giving notice complies with subsections (a) and (b) and if the recipient receives the notice.

  15. WAIVER.

  No waiver of a breach, failure of any condition, or any right or remedy contained in or granted by the provisions of this agreement will be effective unless it is in writing and signed by the party waiving the breach, failure, right, or remedy. No waiver of any breach, failure, right, or remedy will be deemed a waiver of any other breach, failure, right, or remedy, whether or not similar, and no waiver will constitute a continuing waiver, unless the writing so specifies.

  16. ENTIRE AGREEMENT.

  This agreement, together with the Lease, constitutes the final agreement of the parties. It is the complete and exclusive expression of the parties' agreement with respect to the subject matter of this agreement. All prior and contemporaneous communications, negotiations, and agreements between the parties relating to the subject matter of this agreement are expressly merged into and superseded by this agreement. The provisions of this agreement may not be explained, supplemented, or qualified by evidence of trade usage or a prior course of dealings. Neither party was induced to enter this agreement by, and neither party is relying on, any statement, representation, warranty, or agreement of the other party except those set forth expressly in this agreement. Except as set forth expressly in this agreement, there are no conditions precedent to this agreement's effectiveness.

  17. HEADINGS.

  The descriptive headings of the sections and subsections of this agreement are for convenience only, and do not affect this agreement's construction or interpretation.

  18. EFFECTIVENESS.

  This agreement will become effective when all parties have signed it. The date this agreement is signed by the last party to sign it (as indicated by the date associated with that party's signature) will be deemed the date of this agreement.

  19. NECESSARY ACTS; FURTHER ASSURANCES.

  Each party shall use all reasonable efforts to take, or cause to be taken, all actions necessary or desirable to consummate and make effective the transactions this agreement contemplates or to evidence or carry out the intent and purposes of this agreement.

  [SIGNATURE PAGE FOLLOWS]

  Each party is signing this agreement on the date stated opposite that party's signature.