TERMINATION OF LEASE AGREEMENT This Termination of Lease Agreement (the “Termination”) is entered into as of ______________, 20__, (the “Termination Date”) by and between ____________________ (the “Landlord”) and ____________________ (the “Tenant”) (collectively the “Parties). RECITALS WHEREAS, the Parties have entered into that certain lease agreement, dated as of ____________, 20___ (the “Lease”), pertaining to the premises _____________________________________ (the “Premises”). A copy of the Lease is attached as Exhibit A hereto and made a part hereof by reference; and WHEREAS, pursuant to Section __________ of the Lease relating to terminations thereof, the Parties hereby desire to terminate the Lease with effect and as of the Termination Date. NOW THEREFORE, in consideration of the above recitals and the mutual benefits contained herein, [and in further consideration of the payment by the Tenant to the Landlord of the sums as hereinafter provided,] the receipt and sufficiency of which consideration are hereby acknowledged, the Parties hereby agree as follows: 1. TERMINATION.
Subject to the terms and conditions of this Termination, the Parties herby terminate the Lease, effective as of the Termination Date, and the Lease shall be null, void, and of no further binding effect; provided, however, that with respect to any provision in the Lease that would otherwise survive in accordance with the terms and conditions of the Lease, each Party hereby agrees that such provision shall survive the termination of the Lease in accordance with its terms. 2. Option 1 COMPLIANCE WITH OBLIGATIONS. The Tenant shall be responsible for all of the Tenant’s obligations under the Lease through and including the Termination Date, including, without limitation, the Tenant’s obligation to pay monthly rent, additional rent, utility charges, and all other amounts and charges owing under the Lease. On or before the Termination Date, the Tenant shall pay to the Land