Mutual Cancellation of Lease

{{company_name}}

{{company_address}}

Phone: {{phone}} | Email: {{email}} | Web: {{website}}

Mutual Cancellation of Lease

Mutual Cancellation of Lease

{{company_name}}

{{company_address}}

Phone: {{phone}}

Email: {{email}}

Website: {{website}}

MUTUAL CANCELLATION OF LEASE

This Mutual Cancellation of Lease Agreement ('Agreement') is made and entered into on this {{day}} day of {{month}}, {{year}}, by and between:

{{landlord_name}} (hereinafter referred to as "Landlord"), with a mailing address of {{landlord_address}}.

AND

{{tenant_name}} (hereinafter referred to as "Tenant"), with a mailing address of {{tenant_address}}.

WHEREAS, Landlord and Tenant entered into a Lease Agreement dated {{lease_start_date}} for the property located at {{property_address}} (hereinafter referred to as the "Premises"); and

WHEREAS, both Landlord and Tenant mutually desire to terminate the aforementioned Lease Agreement prior to its scheduled expiration date of {{original_lease_end_date}};

MUTUAL AGREEMENT TO TERMINATE

Landlord and Tenant hereby mutually agree to terminate the Lease Agreement dated {{lease_start_date}} for the Premises, effective as of {{cancellation_effective_date}} (hereinafter referred to as the "Effective Termination Date").

SURRENDER OF PREMISES

Tenant agrees to vacate and surrender possession of the Premises to Landlord on or before the Effective Termination Date. Tenant shall leave the Premises in broom-clean condition, free of all personal belongings and debris, and in substantially the same condition as when possession was taken, reasonable wear and tear excepted.

FINANCIAL SETTLEMENT

In consideration of the mutual termination, the parties agree to the following financial arrangements:

a. **Rent Payment:** Tenant shall be responsible for all rent due up to and including the Effective Termination Date. The amount of rent due for this period is {{rent_amount_due}} ({{rent_amount_due_words}}) to be paid by {{payment_due_date}}.

b. **Security Deposit:** The security deposit of {{security_deposit_amount}} ({{security_deposit_amount_words}}) held by Landlord shall be returned to Tenant within {{days_for_security_deposit_return}} days after the Effective Termination Date, subject to any deductions for damages beyond reasonable wear and tear, and unpaid rent or other charges as permitted by the original Lease Agreement and applicable law. Landlord shall provide an itemized statement of any deductions.

c. **Other Charges/Payments:** {{other_financial_terms_and_conditions}}.

RELEASE AND DISCHARGE

Upon the Effective Termination Date and the fulfillment of all terms and conditions of this Agreement, Landlord and Tenant hereby release and discharge each other from any and all obligations, liabilities, claims, and demands arising under or in connection with the Lease Agreement, except for those obligations specifically stated to survive termination in this Agreement.

RETURN OF KEYS

Tenant agrees to return all keys, access cards, and any other entry devices to the Premises to the Landlord or Landlord's designated agent on or before the Effective Termination Date.

GOVERNING LAW

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

ENTIRE AGREEMENT

This Agreement constitutes the entire agreement between the Landlord and Tenant regarding the mutual cancellation of the Lease Agreement and supersedes all prior discussions, negotiations, and agreements, whether written or oral.

SIGNATURES

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

LANDLORD

____________________________

{{landlord_name}}

Date: {{landlord_signature_date}}

TENANT

____________________________

{{tenant_name}}

Date: {{tenant_signature_date}}