Docstoc Legal Agreements
This Termination of Residential Lease agreement may be used to terminate a lease upon
mutual agreement by both the landlord and the tenant. This agreement effectively ends the
lease on the condition that the tenant returns the premises in good condition and the
landlord returns the tenant's security deposit. It contains the standard provisions that are
commonly included in these types of agreements as well as opportunities for customization
to fit the specific needs of the parties. This document should be used by landlords and
tenants located in Illinois when mutually agreeing to terminate a lease.
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TERMINATION OF RESIDENTIAL LEASE
THIS TERMINATION OF LEASE AGREEMENT (“Agreement”) is between
_____________ __________________ [Instruction: Insert the name of landlord or manager
(if applicable)] (“Landlord”) and ____________________________________ [Instruction:
Insert the name of tenant] (“Tenant”).
WHEREAS Landlord has entered into a certain Residential Lease with Tenant dated ______
[Month] ____ [Date], 20____ [Instruction: Insert the date of Residential Lease Agreement]
(the “Lease”) for the premises located at ____________________________________________
[Instruction: Insert the address of the Premises] (the “Premises”);
WHEREAS, Tenant and Landlord wish to end their relationship and mutually agree to terminate
the Lease forthwith;
NOW THEREFORE, in consideration of the mutual covenants and recitals, Landlord and
Tenant hereby acknowledge that the Lease in favor of Tenant is terminated effective on ____
[Month] ____ [Date], 20____ conditional upon the following:
1. Premises: The Premises being returned to Landlord is in good and clean condition,
undamaged and restored to the original condition of the Premises that existed at the
commencement of the Lease, normal and ordinary wear and tear excepted.
2. Security deposit: Landlord holds Tenant’s security deposit of ____________ ($____)
[twenty thousand dollars ($20,000)] [Instruction: Insert the security deposit amount]. If
the Tenant fulfills the obligation under clause 1 and obligations under the Lease, then
Landlord shall return the security deposit within Twenty (20) days of the expiration or
termination of the rental agreement under Illinois [STATUTE]. Landlord reserves the right to
use the security deposit for the purposes set forth in the Lease.
3. Representation and Warranty: Tenant represents and warrants to Landlord as follows:
a. Tenant has the right and authority to enter into this agreement;
b. Tenant has complied with all obligations under the Lease, and will
continue to comply with all of such obligations until the effective date of termination.
4. Other terms:
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[Comment: Kindly write any special terms discussed and agreed between Landlord and
Tenant in the above space, otherwise delete section 4.]
5. Counterparts: The parties acknowledge and agree that this Agreement may be executed and
effectuated through transmission of signed facsimiles or imaged documents (e.g., .pdf, .jpeg,
or .tiff) attached to emails, and in counterparts, and shall be binding upon the parties as if
they were original documents.
[Comment: This section 5 is not required, but the parties may use it if they so wish]
IN WITNESS WHEREOF, the parties hereto have set and subscribed their respective hands
unto this Agreement on the day and date first set out hereinabove.
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