Tenancy Breach Agreement

TENANCY BREACH AGREEMENT

This Tenancy Breach Agreement (the Agreement) is made and entered into as of between Landlord Name: (Landlord), whose address for notice is , and Tenant Name: (Tenant), concerning the lease of the Premises described below.

RECITALS

WHEREAS, Landlord and Tenant entered into a lease agreement dated (the Lease), covering the premises located at (the Premises);

WHEREAS, Tenant has committed the following breach or breaches of the Lease: ; and

WHEREAS, the parties desire to resolve the breach without immediate termination or litigation by entering into this Agreement setting forth the cure, payments, and remedies available in the event of further default.

NOW, THEREFORE, in consideration of the mutual covenants contained herein and other good and valuable consideration, the parties agree as follows:

1. ACKNOWLEDGMENT OF BREACH

Tenant acknowledges that Tenant is in breach of the Lease for the reasons set forth above and further described in Section 2. Tenant does not admit to any other breaches beyond those specifically identified in this Agreement.

2. DESCRIPTION OF BREACH AND AMOUNTS DUE

3. CURE, PAYMENT PLAN AND DEADLINE

Tenant shall cure the breach and pay the amounts specified in this Agreement according to the following schedule. Failure to strictly comply with the schedule constitutes a material default under this Agreement and the Lease.

Initial cure payment due on in the amount of .

4. FORBEARANCE; NO WAIVER

If Landlord accepts any payment or permits a cure in accordance with this Agreement, such acceptance constitutes a limited forbearance to allow Tenant to cure as set forth herein and shall not be deemed a waiver of any rights or remedies under the Lease except as expressly set forth in a written release executed by Landlord. Acceptance of partial payment does not prevent Landlord from declaring a default if Tenant fails to meet any other obligation of this Agreement.

5. DEFAULT AND REMEDIES

If Tenant fails to cure the breach by the cure deadline or otherwise defaults under this Agreement, Landlord shall have all rights and remedies available under the Lease and at law or in equity, including termination of the Lease, immediate acceleration of sums owed, costs of re-entry, repair and reletting, and recovery of attorneys' fees and costs.

6. RELEASE

Upon full performance by Tenant of the obligations set forth in this Agreement, Landlord shall provide a written release of the specific breach(es) identified herein. Except as expressly released, this Agreement shall not operate as a release of any other claims or causes of action Landlord may have against Tenant arising from other defaults or arising after the date of this Agreement.

7. INDEMNIFICATION

Tenant shall indemnify, defend and hold Landlord harmless from and against any liabilities, claims, losses, costs, and expenses (including reasonable attorneys' fees) arising from Tenant's breach or failure to perform under the Lease or this Agreement, except to the extent resulting from Landlord's gross negligence or willful misconduct.

8. NOTICES

All notices required or permitted under this Agreement shall be in writing and delivered to the addresses set forth below by personal delivery, overnight courier, or certified mail, return receipt requested. Notices are effective upon receipt.

9. ATTORNEYS' FEES AND COSTS

In the event of any action or proceeding to enforce this Agreement or the Lease arising from Tenant's breach, the prevailing party shall be entitled to recover its reasonable attorneys' fees, costs and expenses, whether incurred in arbitration, litigation or appeal, in addition to any other relief to which it is entitled.

10. GOVERNING LAW

This Agreement shall be governed by and construed in accordance with the laws of the state in which the Premises are located without regard to its conflicts of law principles.

11. ENTIRE AGREEMENT; SEVERABILITY

This Agreement, together with the Lease, contains the entire agreement between the parties with respect to the subject matter hereof and supersedes all prior and contemporaneous agreements and understandings, whether written or oral. If any provision of this Agreement is held invalid or unenforceable, such invalidity shall not affect the remaining provisions which shall remain in full force and effect.

12. AMENDMENTS; WAIVER; COUNTERPARTS

No modification, amendment or waiver of any provision of this Agreement shall be effective unless in a writing signed by both parties. No waiver of any breach shall constitute a waiver of any other or subsequent breach. This Agreement may be executed in counterparts, each of which shall be deemed an original and all of which shall constitute one and the same instrument.

13. MISCELLANEOUS PROVISIONS

The parties acknowledge that they have read this Agreement, understand its terms, and have had the opportunity to seek independent legal advice. The signatories represent that they are authorized to execute this Agreement on behalf of the respective parties.

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