Real Estate Lease Termination Agreement (Tenant) An agreement allowing a tenant to terminate a lease agreement for real estate, specifying termination terms, notice requirements, and any associated costs or obligations.
1.1. Termination Date
The parties hereby agree that the Lease shall terminate on __________ (the "Termination Date"). The Tenant shall vacate the Property and remove all personal property by the Termination Date in accordance with the terms and conditions of this Agreement.
1.2. Notice Period
The Tenant shall provide the Landlord with written notice of its intent to terminate the Lease at least thirty (30) calendar days prior to the Termination Date (the "Notice Period").
1.3. Early Termination Fee
If the Tenant terminates the Lease prior to its natural expiration date, the Tenant shall pay the Landlord an early termination fee in the amount of __________ (the "Early Termination Fee"). The Early Termination Fee shall be payable to the Landlord on or before the Termination Date.
2.1. Inspection of Property
Upon receipt of the Tenant's written notice of its intent to terminate the Lease, the Landlord shall inspect the Property for damages beyond normal wear and tear, and provide notice to the Tenant detailing any such damages. The Tenant shall have the opportunity to review and comment upon the damages and related costs, if any.
2.2. Refund of Security Deposit
Subject to the provisions of Section 2.1 above, the Landlord shall refund to the Tenant the security deposit paid by the Tenant in connection with the Lease, less any deductions permitted under the Lease and/or applicable law, within thirty (30) calendar days following the Termination Date.
3.1. Surrender of Property
Upon the Termination Date, the Tenant shall surrender the Property to the Landlord in a clean and orderly condition, free of the Tenant's personal property, unused fixtures, and any alterations or improvements that were not approved by the Landlord in writing. The Tenant shall comply with any additional requirements or obligations set forth in the Lease regarding the condition of the Property upon termination.
3.2. Tenant's Responsibility for Damages
Notwithstanding the termination of the Lease, the Tenant shall remain responsible for any damages to the Property caused by the Tenant, its agents, employees, or invitees, during the Term of the Lease, including any damages discovered after the Tenant's surrender of the Property.
3.3. Return of Keys and Access Devices
Upon the Termination Date, the Tenant shall return to the Landlord all keys, access cards, and other access devices issued to the Tenant in connection with the Property.
This Agreement, together with the Lease, constitutes the entire understanding and agreement of the parties with respect to the termination of the Lease, and supersedes any and all prior and contemporaneous agreements, negotiations and communications, whether written or oral, between the parties with respect to the subject matter hereof. No modification, waiver, amendment, discharge or change of this Agreement shall be valid unless the same is in writing and signed by the party against which the enforcement of such modification, waiver, amendment, discharge or change is sought.
This Agreement shall be governed by and construed in accordance with the laws of the United States of America and the state in which the Property is located, without regard to any conflict of laws principles.
By signing below, the parties acknowledge that they have read and understood the terms of this Agreement, and agree to be legally bound by its terms and conditions.
IN WITNESS WHEREOF, the parties have executed and signed this Agreement as of the date first above written.
_______________________________
Tenant: Sylvan Homes, Inc.
By: ___________________________
Name: _________________________
Title: ________________________
_______________________________
Landlord: Riverbend Properties, LLC
By: ___________________________
Name: _________________________
Title: ________________________
In this Real Estate Lease Termination Agreement (Tenant), you will see the following sections:
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