Termination of Lease Obligation
This release agreement made on the _____ day of ____________, 20__, by and between ___________________________________, (Lessor), whose address is _______________________________________________________________________ and ___________________________________, (Lessee), whose address is ________________________________________________________________________ .
WHEREAS a certain Lease agreement dated the _____ day of ____________, 20__, was executed between Lessor and Lessee for the premises located at ________________________________________________________________________ _, a copy of which is attached hereto and made a part hereof.
WHERAS the parties desire to settle all claims of Lessor with respect to said Lease and to terminate all obligations of either party thereunder.
THEREFORE, in consideration of the sum of __________ Dollars ($ ), from Lessee, the receipt of which is hereby acknowledged, Lessor does hereby release Lessee from all obligations and duties of Lessee set forth in the above referenced Lease.
In consideration of the release set forth above, Lessee hereby surrenders all rights in and to the subject leased premises. That possession of said premises shall be delivered up to Lessor immediately upon the execution of this instrument, and that Lessor is relieved of any responsibilities or obligations under the aforementioned lease. This agreement is binding upon and inures to the benefit of the heirs, successors and assigns of both parties hereto.
_______________________________ ________________________________ Lessor Lesee
STATE OF ) COUNTY OF ) Subscribed and sworn before me this the _____ day of ____________, 20__. Witness my hand and official seal.
________________________________ My commission expires: Notary Public