Surrender of Lease and Acceptance Agreement (Tenant signs if investor chooses to all tenant to exit from lease)
Surrender of Lease and Acceptance Agreement.
Agreement dated the _________ day of _________, 20_____, by and between________ ____________________________Landlord, and ________________________ Tenant.
STATEMENT OF FACTS
By agreement of lease dated _________, 20____, Landlord leased to Tenant the Premises located in the City of _______________, County of _________, State of _________, commonly known as _________________________________ ("Address").
Tenant is now desirous of canceling the Lease and surrendering possession of the Premises, and Landlord is willing to accept a surrender of the Premises on the terms and conditions here provided.
Therefore, in consideration of the mutual covenants herein contained, it is mutually agreed as follows:
1. The Lease is hereby duly cancelled as of _________, 20______, with the same force and effect as if such date were initially set forth in the Lease as the termination date thereof.
2. Tenant covenants and agrees that it will surrender possession of the Premises to Landlord, and Tenant hereby gives, grants and surrenders unto Landlord, its successors and assigns, the Premises and all of its rights, title and interest therein.
3. Tenant hereby covenants that it has not done or suffered anything to be done whereby Premises have been encumbered in any way whatever, nor shall the Premises be in any way encumbered on the day Tenant surrenders possession of the Premises to Landlord.
4. Landlord for itself, its successors and assigns, does hereby release Tenant, its successors and assigns, from any and all claims and obligations under the Lease.
5. Tenant, for itself, its successors and assigns, does hereby release Landlord, its successors and assigns, from any and all claims and obligations under the Lease.
6. Landlord hereby accepts a surrender of the Premises in its as is condition.
In witness whereof, the Landlord and Tenant have caused this Surrender of Lease to be executed as of the date first written above.
_______________________________Tenant Date__________________
_______________________________Tenant Date__________________
_______________________________Landlord Date__________________ This document and accompanying materials are designed to provide authoritative information in regard to the subject matter covered in it. It is for illustration purposes only and presented with the understanding that the author and publisher are not engaged in rendering legal, accounting or other professional opinions. If legal advice or other expert assistance is required, the services of a competent professional should be sought. |
