TERMINATION OF COMMERCIAL LEASE
This document terminates a lease, upon mutual agreement by both parties, for premises rented out for a commercial purpose. Fill in appropriate areas to suit your needs.
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TERMINATION OF COMMERCIAL LEASE
B E T W E E N:
(hereinafter called the “Landlord”) OF THE FIRST PART, - and –
(hereinafter called the “Tenant”) OF THE SECOND PART.
WHEREAS the Landlord had entered into an Agreement to Lease with ________________ dated the _____ day of _______________, ______ (the “Lease”) for the structure located at __________________________________; AND WHEREAS the Tenant has been in possession of the premises since on or about that date; AND WHEREAS the Tenant and the Landlord wish to end their relationship and mutually agree to terminate the Lease forthwith; NOW THEREFORE, in consideration of the mutual covenants and recitals, the Landlord and Tenant hereby acknowledge that the Lease in favour of the Tenant is terminated effective the ______ day of ________________, 20_____ conditional upon the following: 1. The leased premises being returned to the Landlord in a good state of repair and condition in accordance with paragraph _________ of the Lease; The Tenant agrees to indemnify and save harmless the Landlord after the termination of the Lease in accordance with paragraph ________ of the Lease