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AGREED TERMINATION OF WRITTEN LEASE AGREEMENT BY LANDLORD AND TENANT 1. OPERATIVE LEASE: A Lease Agreement was executed and entered into by Lessor, ___________________________, (hereinafter referred to as “Landlord”) and Lessee(s), and, ______________________________, __________________________________ and _______________________________________, (hereinafter referred to collectively as “Tenant”) on the _______ day of __________________, 20___. A copy of the Lease Agreement is incorporated herein by reference or by attachment hereto. 2. AGREED TERMINATION: In the agreed interest of both parties, and for valuable consideration, the sufficiency of which is hereby acknowledged, Landlord and Tenant hereby agree to terminate the above- referenced Lease Agreement, the agreement to terminate on the _______ day of ______________, 20____, upon which date Tenant shall vacate and surrender the leased premises unto Landlord. 3. SPECIAL CONDITIONS: This Agreed Termination and Surrender is contingent on the following special conditions, which must be specifically performed prior to the date of termination. Failure in performing these conditions will void this Agreed Termination and Surrender and the original Lease Agreement will govern the relationship between the parties. Special Conditions (if any) include: 4. RELEASE OF PARTIES: Upon specific performance of the above conditions prior to the agreed date of termination and surrender described above, the Lease Agreement shall terminate on the date stated above at ___________ o’clock (a.m/p.m.), before which time Tenant must vacate and surrender the premises. The Lease Agreement shall thenceforth be null and void and the parties free from the obligations, terms and conditions thereof. * * * WITNESS THE SIGNATURES OF THE PARTIES: Landlord, or authorized agent: Dated: Tenant: Print name: Dated: Tenant: Print name: Dated: Tenant: Print name: Dated:
5. Notice: in the event that tenant is not in violation of the conditions of the lease agreement or that tenant has been previously notified or given the opportunity for possession, notice that the premises are the subject of a written lease agreement (hereinafter referred to as a “notice"), shall be served upon the landlord as promptly as possible following receipt of a copy of such a lease agreement by the landlord. Failure of tenant to do either of the following as soon as possible following the receipt of such notice shall cancel the provisions and obligations set forth above and such landlord, acting without notice thereof, shall have no further obligation to the tenant: fail to give possession of the premises to rent to the tenant. Fail to deliver the keys and appropriate evidence of title to the premises to the tenant. Fail to return the premises to the tenant upon the termination and surrender of the lease agreement. Failure by landlord to accept delivery of such notice as contemplated in this section at any time within thirty (30) days is a breach of this contract and constitutes grounds for termination pursuant to the provisions of section 24-34-102 (6). (b) (deleted by amendment, l. 2004, p. 1874, § 4, effective july 1, 2004.) history: amendments. L. 2004, p. 1874, § 4, effective july 1, 2004. 10-1-106. Lease agreement terminable on written notice. (1) a lease agreement is terminated automatically and without cause when a written notice of termination must be delivered in accordance with paragraph (3) by tenant, after failure of the tenant to comply fully with the lease agreement or on execution of a deed of conveyance, by the tenant. A tenancy is terminated by the tenant upon any of the foregoing conditions, unless: (a) after such failure, the tenant has made adequate provision for the tenant's reasonable future needs, shall promptly return possession of the premises to the landlord, and has a good faith belief that the landlord will continue to make the reasonable lease payments or repairs when ordered by the court; (b) the landlord has given written notice of termination of the lease agreement to the tenant after reasonable notice and at least seven (7) working days before the termination date; or (c) both the landlord and tenant have agreed upon termination prior to the landlord's giving written notice of termination to the other. (2) for the purposes of this section, “reasonable notice" means notice that is in compliance with the