Lease Termination Agreement
THIS LEASE TERMINATION AGREEMENT is made and entered into on this _____ day of ________, 20______ (the “Effective Date”), by and between ______________ (the “Landlord”) and ____________ (the “Tenant”) (collectively referred to as the “Parties”). 1. TERMINATION OF LEASE The Parties mutually agree to terminate the existing Lease Agreement, dated ________, 20______, and identified by Lease Agreement number ________, as of ________, 20______. Neither Party will have any further rights or obligations under the Lease Agreement after the Termination Date, except for those rights and obligations which by their nature should survive the termination of the Lease Agreement. 2. NOTICE PERIOD The Tenant shall provide ________ days/weeks/months notice to the Landlord prior to vacating the premises. 3. REASON FOR TERMINATION The reason for termination is ________. (Tenant/Landlord) is terminating the Lease Agreement due to ________. 4. SURRENDER OF PREMISES The Tenant agrees to vacate the premises on or before the Termination Date, remove all personal belongings, and return the premises and any property of the Landlord in a clean and undamaged condition. 5. SECURITY DEPOSIT Upon termination of the Lease Agreement, the Landlord agrees to return the Security Deposit to the Tenant, less any deductions for unpaid rent, damages beyond normal wear and tear, or any other amount owed under the Lease Agreement. 6. INDEMNIFICATION To the maximum extent permitted by law, the Tenant agrees to defend, indemnify, and hold harmless the Landlord from and against all claims, damages, losses, and expenses, including reasonable attorneys’ fees, arising out of or in any way connected with the Tenant’s use and occupancy of the premises. 7. ADDITIONAL STATE LAW The Parties agree to comply with all applicable state and local laws and regulations in connection with this Lease Termination Agreement. 8. ENTIRE AGREEMENT This Lease Termination Agreement contains the entire agreement of the Parties and there are no other promises, conditions, understandings or other agreements, whether oral or written, relating to the subject matter of this Lease Termination Agreement. Landlord: ________________________ Date: ________, 20______Tenant: ________________________ Date: ________, 20______
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