Mutual Cancellation of Lease

Letterhead

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{{company_address}}

Tel: {{phone}}

Email: {{email}}

Website: {{website}}

Date

{{date}}

Parties

This Mutual Cancellation of Lease Agreement (hereinafter referred to as "Agreement") is made and entered into effective as of {{effective_date}}, by and between:

Landlord: {{landlord_name}}, with a physical address at {{landlord_address}} (hereinafter referred to as "the Landlord").

And

Tenant: {{tenant_name}}, with a physical address at {{tenant_address}} (hereinafter referred to as "the Tenant").

(Collectively referred to as “the Parties”)

Recitals

WHEREAS, the Parties entered into a Lease Agreement dated {{original_lease_start_date}} for the property located at {{property_address}} (hereinafter referred to as “the Premises”); and

WHEREAS, the original Lease Agreement was set to expire on {{original_lease_end_date}}; and

WHEREAS, the Parties now mutually desire to terminate the Lease Agreement prior to its original expiry date, subject to the terms and conditions set forth herein.

Mutual Cancellation

The Landlord and the Tenant hereby agree to mutually cancel the Lease Agreement dated {{original_lease_start_date}} with respect to the Premises, effective as of {{cancellation_effective_date}}.

Return of Premises

The Tenant shall vacate the Premises and return possession thereof to the Landlord on or before {{vacate_date}}. The Premises shall be returned in good condition, reasonable wear and tear excepted, and in accordance with the terms and conditions outlined in the original Lease Agreement regarding the condition of the property upon vacating.

Outstanding Obligations and Payments

The Tenant agrees to pay all outstanding rent, utilities, and other charges due up to the effective date of cancellation, {{cancellation_effective_date}}. Any amounts due shall be paid by {{final_payment_date}}.

The Landlord agrees to refund the security deposit of {{security_deposit_amount}} to the Tenant, less any lawful deductions for damages beyond reasonable wear and tear, and any unpaid rent or other charges, within {{days_to_refund_deposit}} days after the Tenant vacates the Premises and the keys are returned, as per the terms of the original Lease Agreement and applicable laws. An itemised statement of deductions, if any, will be provided to the Tenant.

Release of Liability

Upon the effective date of this Agreement and the full satisfaction of all obligations herein, the Landlord and the Tenant hereby release each other from any and all further obligations, duties, and liabilities arising from or related to the Lease Agreement, except for those obligations that expressly survive the termination of the Lease Agreement or as stated in this Agreement.

Governing Law

This Agreement shall be governed by and construed in accordance with the laws of {{country_jurisdiction}}.

Entire Agreement

This Agreement constitutes the entire agreement between the Parties with respect to the subject matter hereof and supersedes all prior discussions, negotiations, and agreements, whether oral or written, between the Parties.

Signatures

IN WITNESS WHEREOF, the Parties have executed this Mutual Cancellation of Lease Agreement on the dates indicated below.

LANDLORD:

___________________________

Name: {{landlord_name}}

Date: {{landlord_signature_date}}

Witness:

___________________________

Name: {{landlord_witness_name}}

Date: {{landlord_witness_date}}

TENANT:

___________________________

Name: {{tenant_name}}

Date: {{tenant_signature_date}}

Witness:

___________________________

Name: {{tenant_witness_name}}

Date: {{tenant_witness_date}}