Surrender of Commercial Lease


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									This is an agreement between a tenant and a landlord whereby the tenant surrenders a
commercial lease. Under this agreement, the landlord agrees to the early termination of
the lease and will not hold the tenant accountable for the remaining term. This
document contains numerous standard provisions that are commonly included in these
types of agreements, and may be customized to fit the specific needs of the contracting
parties. This agreement can be used by small businesses or other entities that want to
surrender their commercial lease, or by property owners that want to allow their tenant
to surrender the lease early.
                                    Surrender of Commercial Lease

For good and valuable consideration, the receipt and sufficiency of which is hereby
acknowledged, ____ [Instruction: Insert Tenant’s name.], a ___ [Instruction: Insert
jurisdiction and type of business entity.] as Tenant and ___ [Instruction: Insert Landlord’s
name.] a ___ [Instruction: Insert jurisdiction and type of business entity.], as Landlord do
hereby agree to the following terms and conditions to mutually terminate that certain lease dated
___ [Instruction and Comment: Insert original lease date. If the Lease has been extended,
modified or amended or if the Tenant is an assignee of an original tenant, also include those
recitals here.] entered into by and between Tenant and Landlord for the premises located at
____ [Instruction: Insert property municipal address, including suite number if any.] and
known as _______ [Instruction: Insert legal description.] and which lease is presently in force.
The parties hereto agree the new Lease termination date shall be _____ [Instruction: Insert new
termination date.] (the “New Termination Date”). The parties hereto further agree that upon
the satisfaction of the conditions and obligations set forth herein, the Lease shall thereafter be
deemed terminated and no further rights and obligations shall remain as between the parties,
other than those which by its terms survive the lease, and those set forth herein.

1. The parties acknowledge, confirm and agree that the foregoing recitals are true in substance
   and in fact.

2. The parties hereto agree to the disposition of the security deposit as set forth in the Lease.
   The Tenant surrenders and releases to the Landlord all his/her interest in the Premises
   [Comment: If the Lease defines the leased property as something other than the
   Premises, revise the name throughout this document to conform to the defined term in
   the Lease.] with vacant possession and the Landlord accepts this surrender.

3. Tenant surrenders to Landlord, as of the New Termination Date the Premises and Lease and
   all rights hereunder to the intent that the unexpired residue of the Lease term and any
   renewals shall be merged and extinguished in the reversion, and Tenant hereby releases in
   favor of Landlord, as of the New Termination Date, all of its right, title and interest in and to
   the Premises and the Lease.

4. From and after the New Termination Date (but, for greater certainty, not before such date),
   each party releases, remises and forever discharges the other from the performance of all
   covenants contained in the Lease and the obligation for all claims hereunder thereafter
   arising and the parties agree that as and from such date (but, for greater certainty, not before
   such date), the Lease shall be of no further force and effect and the parties shall be relieved
   of all further liability and obligation under Lease, except as otherwise set forth herein.

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5. Each party represents and warrants with the other that it has the good right, full power and
   authority to cancel the Lease in the manner aforesaid, and that, as of the New Termination
   Date, none of the parties shall have executed any other instruments, deeds, or other
   documents pursuant to which the Lease and the unexpired residue of the term thereof, shall in
   any way be charged, encumbered, assigned, or otherwise transferred. Notwithstanding the
   foregoing, Landlord shall be permitted to enter into a new lease or other right of occupancy
   with any other party for the Premises prior to the New Termination Date, subject to any such
   new lease or other right of occupancy not commencing prior to the New Termination Date.

6. Each party agrees with the other that it will, at all times hereafter, upon the reasonable
   request of any of the other parties, execute all such further documents in respect of the
   surrender of the Premises and the Lease as may be required to give effect to this agreement.

7. Each of the parties shall be responsible for all obligations, including but not limited to the
   payment of any utilities, fines, fees or any other such payments set forth in the Lease and the
   maintenance of any applicable insurance, until and through the New Termination Date.

8. The parties hereto agree that this agreement shall be deemed notice pursuant to the required
   termination notice provided in the Lease, and no further notice shall be required. Neither
   party shall incur any liability for any failure to provide such notice as set forth in the Lease.

9. Any and all improvements, renovations and/or fixtures (trade or otherwise) installed by the
   Tenant shall be retained by the party set forth in any and all applicable Lease provisions.
   [Instruction: In the event the Lease did not speak to the installation of any
   improvements, renovations or fixtures (trade or otherwise), parties should set forth the
   applicable agreement regarding same here, and delete the current language.] Tenant
   shall be liable for any damage, beyond normal wear and tear, caused as a result of the
   removal of any and all such improvements, renovations and/or fixtures.

10. Tenant and Landlord represent and warrant to each other and agree as follows: the Lease has
    not been modified or amended except as set forth herein; there are no other agreements,
    understandings, contracts, or commitments of any kind by, between or among such party to
    this agreement and any third party with respect to the Lease or the Premises except as
    expressly provided in the Lease or this agreement; such party has not assigned, transferred,
    sublet or hypothecated its rights, obligations or interests (or any portion thereof) under the
    Lease; and to the best of such party’s knowledge, neither party is in default under the Lease
    nor is there any condition or event which has occurred, which, with the passage of time or the
    giving of notice or both, would constitute a default or breach under the Lease.

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11. The provisions of this agreement (other than those contained in this clause) shall not
    have any effect until this agreement has been dated.

12. This agreement shall be binding upon both parties, their successors, assigns and personal

13. Any term used herein which is not defined herein shall have the meaning set forth in the

14. This agreement shall be governed, construed and interpreted by, through and under the Laws
    of the State of _____ [Instruction: Insert applicable state.]

15. The pronouns used herein shall include, where appropriate, either gender or both, singular
    and plural.

16. If any provision of this agreement or the application thereof shall, for any reason and to any
    extent, be invalid or unenforceable, neither the remainder of this agreement nor the
    application of the provision to other persons, entities or circumstances shall be affected
    thereby, but instead shall be enforced to the maximum extent permitted by law.

17. Should it become necessary for Landlord to employ an attorney to enforce any of the
    conditions or covenants hereof, including the collection of rentals or gaining possession of
    the Premises, Tenant agrees to pay all expenses so incurred, including a reasonable attorneys'
    fee. Tenant hereby understands and agrees specifically that such attorney may be Landlord,
    and in such instance, Tenant would remain responsible for all expenses so incurred, including
    such reasonable attorneys’ fee as Landlord would normally charge in such matters.

The Landlord and The Tenant mutually consent to the termination of the tenancy on this date:
__________. [Instruction: Delete this sentence if inapplicable.]

Landlord Name: ______________________________

Landlord Signature: ______________________________                         Date: _______________

Tenant Name: ______________________________

Tenant Signature: ______________________________                          Date: ______________

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