Fill and Sign the Termination of Lease Agreement by Mutual Consentupon Termination of Lessees Businessin Consideration of Lessee Transferring Form

Agreement to Terminate Lease Agreement by Mutual Consent upon Termination of Lessee's Business Termination Agreement made on the _______________ (date), between _____________________ (Name of Lessor) a corporation organized and existing under the laws of the state of ______________, with its principal office located at ___________________ __________________________________________________________ (street address, city, county, state, zip code), referred to herein as Lessor, and ____________________ (Name of Lessee), a corporation organized and existing under the laws of the state of ______________, with its principal office located at street address, city, county, state, zip code, referred to herein as Lessee.Whereas, _____________________ (Name of Lessor) is the Lessor, and ______________________ (Name of Lessee) is the Lessee, under a Lease Agreement dated ________________ (date), a copy of which is attached as Exhibit A and herein incorporated by reference; andWhereas, Lessee has ceased operating a (description of business) _______________ ____________________________________________________________________________ on the Leased Premises and is desirous of obtaining the termination of the Lease Agreement and a release from all of its obligations and undertakings under the Lease Agreement ; andWhereas, Lessor is willing to terminate the Lease Agreement and release Lessee from all of its obligations and undertakings under the Lease Agreement on the terms and conditions set below.Now, therefore, for and in consideration of the mutual covenants contained in this agreement, and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties agree as follows: 1. Lessor agrees to execute, acknowledge, and deliver at closing to Lessee: (a) a surrender of Lease Agreement in the form attached as Exhibit B and incorporated by reference; and (b) an Assignment of Lease Agreement in the form attached as Exhibits C.2. Lessee agrees at closing to: A.Deliver to Lessor its check of $______________ as consideration for this termination; B. Execute, acknowledge, and deliver to Lessor an Assignment of all of Lessee's right, title, and interest as Lessee in and to the attached Lease Agreement ; and C. Execute, acknowledge, and deliver to Lessor an Assignment of all of Lessee's right, title, and interest as Lessor in and to that certain Lease Agreement dated __________________ (date) between Lessor, and Lessee, regarding the Subleases of the Leased Premises.3. Adjustments for each of the properties shall be made as of the date of closing, and adjustments shall be made, where applicable, for real estate taxes, utilities, and rents.4. The closing shall be held at ________ (time) on _______________ (date), at the office of ____________________________ (name of closing agent), at ______________________ ____________________________________________________ (address of closing agent).5. If Lessor shall, on the tender by Lessee of all of the items required to be delivered by it pursuant to Paragraph 2, fail to execute, acknowledge, and deliver the surrender of Lease as provided in Paragraph 1, then Lessee shall be released of all of its obligations under the Lease Agreement as of the closing date provided for in this Agreement.6. If Lessee shall fail to tender all of the items required of it pursuant to Paragraph 2, then Lessor shall have the right to (a) sue for specific performance, or (b) cancel this agreement, in which latter event the parties shall have no further rights or obligations to each other with respect to this agreement.7. The invalidity of any portion of this Agreement will not and shall not be deemed to affect the validity of any other provision. If any provision of this Agreement is held to be invalid, the parties agree that the remaining provisions shall be deemed to be in full force and effect as if they had been executed by both parties subsequent to the expungement of the invalid provision. 8. The failure of either party to this Agreement to insist upon the performance of any of the terms and conditions of this Agreement, or the waiver of any breach of any of the terms and conditions of this Agreement, shall not be construed as subsequently waiving any such terms and conditions, but the same shall continue and remain in full force and effect as if no such forbearance or waiver had occurred.9. This Agreement shall be governed by, construed, and enforced in accordance with the laws of the State of ________________.10. Any notice provided for or concerning this Agreement shall be in writing and shall be deemed sufficiently given when sent by certified or registered mail if sent to the respective address of each party as set forth at the beginning of this Agreement. 11. In the event that any lawsuit is filed in relation to this Agreement, the unsuccessful party in the action shall pay to the successful party, in addition to all the sums that either party may be called on to pay, a reasonable sum for the successful party's attorney fees. 12.Any dispute under this Agreement shall be required to be resolved by binding arbitration of the parties hereto. If the parties cannot agree on an arbitrator, each party shall select one arbitrator and both arbitrators shall then select a third. The third arbitrator so selected shall arbitrate said dispute. The arbitration shall be governed by the rules of the American Arbitration Association then in force and effect. 13. This Agreement shall constitute the entire agreement between the parties and any prior understanding or representation of any kind preceding the date of this Agreement shall not be binding upon either party except to the extent incorporated in this Agreement. 14. Any modification of this Agreement or additional obligation assumed by either party in connection with this Agreement shall be binding only if placed in writing and signed by each party or an authorized representative of each party.15. The rights of each party under this Agreement are personal to that party and may not be assigned or transferred to any other person, firm, corporation, or other entity without the prior, express, and written consent of the other party. 16.In this Agreement, any reference to a party includes that party's heirs, executors, administrators, successors and assigns, singular includes plural and masculine includes feminine.WITNESS our signatures as of the day and date first above stated.___________________________ __________________________(Name of Lessor) (Name of Lessee) By: ______________________________ By: _____________________________ _________________________ ___________________________(Printed name & Office in Corporation) (Printed name & Office in Corporation_________________________ ___________________________(Signature of Officer) (Signature of Officer) (Attach Exhibits)