Lease Termination Agreement

LEASE TERMINATION AGREEMENT

THIS AGREEMENT is made on [Date],
BETWEEN:
[Landlord Name], of [Landlord Address] ("Landlord")
AND
[Tenant Name], of [Tenant Address] ("Tenant").

WHEREAS

• The Landlord and Tenant entered into a lease agreement dated [Original Lease Date] (the "Lease") for the premises located at [Leased Property Address] (the "Premises").
• The parties now wish to terminate the Lease on the terms and conditions set forth in this Agreement.

NOW, THEREFORE, in consideration of the mutual covenants contained herein, the parties agree as follows:

1. Termination Date

1. The Lease shall terminate effective as of [Termination Date] ("Termination Date").
2. On or before the Termination Date, Tenant shall vacate the Premises and return possession to Landlord in accordance with the terms of the Lease and this Agreement.

2. Surrender of Premises

1. Tenant agrees to remove all personal property and leave the Premises in clean and good condition, subject to normal wear and tear.
2. Tenant shall return all keys, access cards, and any other items provided by Landlord.

3. Release of Obligations

1. As of the Termination Date, both parties release each other from all further obligations under the Lease, except for:
   • Any unpaid rent or amounts due up to the Termination Date;
   • Any obligations that expressly survive termination under the Lease;
   • Any damages caused by Tenant beyond normal wear and tear.

4. Security Deposit

1. Landlord shall return the security deposit of [Security Deposit Amount] to Tenant within [Number of Days] days after the Termination Date, less any deductions for unpaid rent, damages beyond normal wear and tear, or other lawful deductions as permitted under the Lease or applicable law.
2. An itemized list of any deductions will be provided to Tenant.

5. Consideration (if applicable)

1. [If any consideration is being paid by either party for early termination, specify here, e.g., "Tenant shall pay Landlord a termination fee of [Amount] on or before the Termination Date." If not applicable, delete this clause.]

6. Mutual Release

1. Except as otherwise provided in this Agreement, each party releases and discharges the other from all claims, demands, and liabilities arising out of or in connection with the Lease after the Termination Date.

7. Representations

1. Each party represents and warrants that it has the full authority to enter into this Agreement and that no other party has any rights to the Premises under the Lease after the Termination Date.

8. Notices

1. Any notice required under this Agreement shall be made in writing and delivered to the respective addresses of the parties set forth above (or such other address as a party may designate in writing).

9. Governing Law

1. This Agreement shall be governed by and construed in accordance with the laws of [Governing Law State/Country].

10. Entire Agreement

1. This Agreement constitutes the entire agreement between the parties regarding termination of the Lease and supersedes all prior agreements or understandings, whether written or oral, relating to the subject matter herein.
2. Any amendments must be in writing and signed by both parties.

11. Counterparts & Electronic Signatures

1. This Agreement may be executed in counterparts, each of which shall be deemed an original.
2. Electronic signatures shall have the same force and effect as original signatures.

12. Disclaimer

This document is a template and may not be suitable for all situations. The parties should consult with legal counsel before signing this agreement.

IN WITNESS WHEREOF, the parties have executed this Lease Termination Agreement as of the date first above written.

Landlord:
Signature: ___________________________
Name: [Landlord Name]
Date: _______________________________

Tenant:
Signature: ___________________________
Name: [Tenant Name]
Date: _______________________________