Agreement to Cancel Lease

{{company_name}}

{{company_address}}

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

Agreement to Cancel Lease

Agreement to Cancel Lease

{{company_name}} {{company_address}} Phone: {{phone}} Email: {{email}} Website: {{website}}

AGREEMENT TO CANCEL LEASE

This Agreement to Cancel Lease ("Agreement") is made and entered into on this {{day}} day of {{month}}, {{year}}, 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").

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

WHEREAS, both parties mutually desire to terminate the Lease Agreement prior to its scheduled expiration date of {{original_lease_end_date}}.

1. Cancellation of Lease

The Landlord and Tenant hereby agree to cancel and terminate the Lease Agreement for the Leased Premises, effective as of {{cancellation_effective_date}} ("Effective Date of Cancellation").

From the Effective Date of Cancellation, neither party shall have any further obligations or liabilities to the other under the Lease Agreement, except as expressly provided in this Agreement.

2. Financial Settlement

The Tenant agrees to pay the Landlord the sum of {{settlement_amount}} ({{settlement_amount_words}}) by {{settlement_payment_due_date}} as full and final settlement for the early termination of the Lease Agreement. This amount includes/excludes (choose one) any outstanding rent, damages, or penalties as agreed upon by both parties.

Any security deposit held by the Landlord in the amount of {{security_deposit_amount}} shall be dealt with as follows: {{security_deposit_disposition}} (e.g., returned to Tenant within X days, forfeited, applied to outstanding amounts).

3. Property Handover

The Tenant agrees to vacate the Leased Premises and return possession to the Landlord on or before {{vacate_date}}. The property shall be returned in a clean and tidy condition, reasonable wear and tear excepted, and in compliance with the terms of the original Lease Agreement regarding the condition of the premises.

A joint inspection of the Leased Premises shall be conducted on {{inspection_date}} at {{inspection_time}} to assess the condition of the property. Both parties or their designated representatives shall attend this inspection.

4. Release and Discharge

Upon the fulfilment of the terms and conditions of this Agreement, the Landlord and Tenant hereby release and forever discharge each other from any and all claims, demands, actions, and causes of action, known or unknown, arising out of or in connection with the Lease Agreement, except as specifically reserved in this Agreement.

5. Entire Agreement

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

No modification or amendment of this Agreement shall be effective unless in writing and signed by both the Landlord and Tenant.

6. Governing Law

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

SIGNATURES

IN WITNESS WHEREOF, the parties have executed this Agreement on the date first above written.

LANDLORD:

_____________________________

{{landlord_name}}

TENANT:

_____________________________

{{tenant_name}}

WITNESSES:

1. _____________________________

Name: {{witness_1_name}}

ID Number: {{witness_1_id_number}}

2. _____________________________

Name: {{witness_2_name}}

ID Number: {{witness_2_id_number}}