Agreement for Early Termination of Lease

Document Sample
Agreement for Early Termination of Lease Powered By Docstoc
					This agreement is made between a landlord and a tenant when the parties mutually
agree to terminate a lease prior to its original expiration date and agree upon a new
termination date. In this agreement, the parties are still bound by the other provisions in
the original lease, such as the requirements that the tenant must surrender the premises
to the landlord in the same state of repair as when the lease commenced and that the
landlord must return the security deposit to the tenant after a satisfactory inspection of
the premises. This form contains both standard clauses and opportunities for the use of
optional terms and conditions making it fully customizable to fit the needs of the parties.
                 AGREEMENT FOR EARLY TERMINATION OF LEASE

      THIS AGREEMENT FOR THE EARLY TERMINATION OF A LEASE (the
“Agreement”), is made this _____ day of ______________, 2_____ [Instruction: Insert
termination agreement date.] (the “Effective Date”), by and between
__________________ [Instruction: Insert Landlord’s name.] (the “Landlord”) and
____________________ [Instruction: Insert Tenant’s name.] (the “Tenant”).

       WHEREAS the Landlord and the Tenant are parties to a Lease Agreement (the
“Lease”) dated the ____ day of ___________, 2_____ [Instruction: Insert date of
original lease.] for the premises known municipally as _________________
[Instruction: Insert address of property, including any apartment number.] (the
“Leased Premises”);

       AND WHEREAS the Landlord and the Tenant mutually agree to terminate the
Lease prior to the expiration date pursuant to the terms and conditions contained herein.

       NOW THEREFORE in consideration of the mutual promises and covenants
contained herein, the Landlord and the Tenant hereby acknowledge and agree as follows:

1. The Landlord and the Tenant have agreed that the original termination date contained
   in the Lease of __________________ [Instruction: Insert original Lease
   termination date.] shall be void and that the termination date of the Lease will now
   be the ____ day of ___________, 2____ [Instruction: Insert new Lease termination
   date.] (the “New Termination Date”).

2. On the New Termination Date, the Tenant will surrender and return the Leased
   Premises to the Landlord in the same state of repair as the Leased Premises were in
   upon commencement of the Lease, normal wear and tear excepted.

3. Upon surrender of the Leased Premises to the Landlord, the Tenant will ensure that
   all of the Tenant’s personal property and effects are removed from the Leased
   Premises. The Tenant acknowledges that any personal property or effects of the
   Tenant which are not removed on the New Termination Date will be removed by the
   Landlord and disposed of in a manner that the Landlord deems fit.

4. On the New Termination Date, the Tenant will surrender and return to the Landlord
   any and all keys, pass cards, garage entry devices and other security devices to the
   Leased Premises.

5. Within a reasonable period of time following the New Termination Date, and upon
   the Landlord viewing the Leased Premises to ensure the Leased Premises are in the
   same state of repair as the Leased Premises were in upon commencement of the
   Lease, normal wear and tear excepted, the Landlord shall return to the Tenant the
   Tenant’s security deposit for the Leased Premises. Landlord shall deliver such

© Copyright 2013 Docstoc Inc. registered document proprietary, copy not              2
    security deposit to Tenant at an address to be provided in writing by Tenant.
    Landlord expressly reserves the right to retain any or all of the security deposit in the
    event the Leased Premises are not returned in the same state of repair as the Leased
    Premises were in upon commencement of the Lease, normal wear and tear excepted,
    or as otherwise permitted pursuant to the Lease.

6. The Landlord and the Tenant agree that each shall be bound to the original terms and
   conditions of the Lease until the New Termination Date, and further, shall be bound
   to the original terms and conditions of the Lease except with respect to the initial
   termination date.

7. Upon the Tenant and the Landlord satisfying all terms and conditions contained in
   this Agreement, the Tenant and the Landlord shall each execute a Release (the
   “Release”) in the form annexed hereto as Schedule “A”, [Instruction: Insert form of
   release at Schedule “A”.] releasing each other of any claims that the other may have
   or will have arising out the Tenant’s possession and lease of the Leased Premises.

8. This Agreement is subject in all respects to the applicable provisions of the state
   landlord-tenant law and such other legislation of the governing jurisdiction, as
   amended.

9. This Agreement shall be construed and governed by the laws of the State of
   __________. [Instruction: Insert applicable state.] Should any provision or
   provisions of the Agreement and/or its conditions be illegal or not enforceable, it or
   they shall be considered separate and severable from the Agreement and its remaining
   provisions and conditions shall remain in force and be binding upon the parties hereto
   as though the said provision or provisions or conditions had never been included.

10. Any mention herein of or references to the Landlord or the Tenant, such mention or
    reference shall be deemed to extend to and include the heirs, executors,
    administrators, successors and assigns of the Landlord and of the Tenant an sub-
    tenants of the Tenant as the case may be, and if the Landlord or Tenant shall be a
    female or if there be more than one Landlord or Tenant, the pronouns used
    throughout shall be taken to be altered accordingly.

       IN WITNESS WHEREOF the Landlord and the Tenant have hereunto set their
hands and seals as of the date first hereabove written.


SIGNED, SEALED AND DELIVERED                                        )
 in the presence of                                                 )
                                                                    )
                                                                    )
                                                                    )
                                                                    )     Landlord
                                                                    )
© Copyright 2013 Docstoc Inc. registered document proprietary, copy not                  3
                                                                    )
                                                                    )
                                                                    )     Tenant




© Copyright 2013 Docstoc Inc. registered document proprietary, copy not            4
                                                      Schedule “A”




© Copyright 2013 Docstoc Inc. registered document proprietary, copy not   5

				
DOCUMENT INFO
Description: This agreement is made between a landlord and a tenant when the parties mutually agree to terminate a lease prior to its original expiration date and agree upon a new termination date. In this agreement, the parties are still bound by the other provisions in the original lease, such as the requirements that the tenant must surrender the premises to the landlord in the same state of repair as when the lease commenced and that the landlord must return the security deposit to the tenant after a satisfactory inspection of the premises. This form contains both standard clauses and opportunities for the use of optional terms and conditions making it fully customizable to fit the needs of the parties.
Customize This Document Instantly download your personalized document Guided Fill-in-the-Blank Process
This document is also part of a package Real Estate Business Templates 153 Documents Included