Surrender of lease and acceptance agreement.
Agreement dated the _________ day of _________[year], by and between _________, residing at _________ Drive, _________, _________(referred to as "Landlord"), and _________ GENERAL CORPORATION, a Delaware corporation, authorized to do business in the State of _________, having an office at _________ Road, _________, _________, as successor in interest to _________, Inc. ("Tenant").
STATEMENT OF FACTS
By agreement of lease dated _________[year], ("Lease Agreement"), Landlord leased to _________, Inc. a parcel of land, together with the improvements located thereon, in the City of _________, County of _________, State of _________, commonly known as _________ Avenue, _________, _________("Premises").
Tenant is now desirous of cancelling 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 _________[year], 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, to have and to hold unto Landlord, its successors and assigns, effective after _________[year].
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 except for the month-to-month tenancy of the _________ pursuant to that certain lease dated _________[year] by and between _________, Inc., as Landlord, and _________, as Tenant. Tenant warrants and represents that the rent payable pursuant to the Lease is $_____ per month plus $_____ for utilities.
4. Tenant hereby pays to Landlord as part of the consideration for the execution of this Agreement and in accordance with the Cancellation Agreement executed by and between the parties on the _________[year] ("Cancellation Agreement"), the sum of $_____ receipt of which is hereby acknowledged.
5. Tenant hereby delivers to Landlord, in accordance with the terms of the Cancellation Agreement, the following documents:
A Assignment of Lease and Assumption Agreement with respect to that certain Lease by and between _________, Inc., as Landlord, and _________, as Tenant, dated _________,
B Assignment of Lease and Assumption Agreement with respect to that certain Lease between _________ and _________, as Lessor, and _________, as Lessee;
C Deed from Retailer to Landlord for property located at _________ Street, _________, _________, receipt of which is hereby acknowledged.
6. 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.
7. 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.
8. 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.
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