CANCELLATION OF LEASE
WHEREAS a certain lease was executed between ________________________________ (hereinafter referred to as “Landlord”) and ____________________________________ (hereinafter referred to as “Tenant”) and dated on _________________________ for the premises more particularly described as follows: ________________________________
WHEREAS, the parties now desire to cancel said Lease;
IN CONSIDERATION OF GOOD AND VALUABLE CONSIDERATION, receipt of which is hereby acknowledged; the above parties hereby agree that said lease will be terminated and canceled effective ____________________ (Date). As of which time, Tenant agrees to vacate said premises. With the exception of those rights and obligations accruing prior to said date and which have not been exercised, performed or discharged, all rights and obligations of the parties under said lease shall be canceled and discharged as of said date.
This Agreement shall be binding upon, and inure to the benefit of, the parties hereto, their heirs, successors and assigns.
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