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Mutual Termination Of Lease
"I need a Mutual Termination of Lease agreement for our retail shop in Brisbane, with termination effective March 15, 2025, including provisions for the return of our $50,000 bank guarantee and detailed make-good obligations."
1. Parties: Identifies and defines all parties to the agreement, including the landlord/lessor and tenant/lessee
2. Background: Recitals explaining the existing lease arrangement and the parties' mutual desire to terminate
3. Definitions: Defines key terms used throughout the agreement
4. Agreement to Terminate: Clear statement of mutual agreement to terminate the lease and the effective termination date
5. Property Inspection and Condition: Requirements for final inspection and agreed condition of the property upon surrender
6. Return of Keys and Access Devices: Process and timing for returning all keys, security cards, and access devices
7. Financial Settlement: Details of final rent payment, security deposit return, and settlement of any outstanding charges
8. Mutual Release: Mutual release of claims and obligations related to the lease
9. Governing Law: Specifies that the agreement is governed by Australian law
10. Execution: Signature blocks and execution requirements
1. Utilities and Services: Instructions for disconnection or transfer of utilities - include for residential leases
2. Make Good Obligations: Specific requirements for restoring the premises - particularly relevant for commercial leases
3. Holding Over: Include if there's been any period of holding over beyond the original lease term
4. Assignment and Subletting: Include if there are any existing subleases or assignments that need to be addressed
5. Confidentiality: Include for commercial leases where parties wish to keep the termination terms confidential
6. GST Provisions: Include for commercial leases where GST considerations apply
7. Return of Bank Guarantee: Include if a bank guarantee was provided as security
8. Survival of Obligations: Include if certain obligations need to survive termination
1. Schedule 1 - Property Details: Detailed description of the leased premises and any included fixtures/fittings
2. Schedule 2 - Financial Settlement Details: Breakdown of all financial settlements including rent, outgoings, and security deposit calculations
3. Schedule 3 - Condition Report: Final condition report or reference to separate condition report to be completed
4. Appendix A - Original Lease: Copy or reference to the original lease agreement being terminated
5. Appendix B - Make Good Schedule: Detailed list of make good requirements and completion timeline (if applicable)
6. Appendix C - Handover Checklist: Checklist of items to be completed/returned at termination
Authors
Building
Business Day
Claim
Commencement Date
Common Areas
Effective Date
Existing Lease
Final Inspection
GST
Handover Date
Keys and Access Devices
Landlord
Lease
Make Good Obligations
Outgoings
Parties
Premises
Property
Release
Rent
Security Deposit
Settlement Amount
Surrender
Tenant
Termination Date
Termination Fee
Utilities
Agreement to Terminate
Termination Date
Handover Obligations
Financial Settlement
Security Deposit
Make Good Obligations
Release and Discharge
Confidentiality
Indemnity
Liability
Severability
Entire Agreement
Further Assurance
Costs
Notices
Governing Law
Property Access
Return of Keys
Utilities and Services
Outstanding Payments
GST
Assignment
Dispute Resolution
Compliance with Laws
Authority to Execute
Survival of Terms
Waiver
Real Estate
Retail
Commercial Property
Residential Property
Industrial
Healthcare
Hospitality
Education
Professional Services
Manufacturing
Logistics
Agriculture
Legal
Property Management
Operations
Facilities Management
Asset Management
Risk & Compliance
Real Estate
Contract Administration
Corporate Services
Leasing
Property Services
Property Manager
Facility Manager
Real Estate Agent
Legal Counsel
Contract Manager
Operations Manager
Asset Manager
Leasing Manager
Property Administrator
Commercial Manager
Building Manager
Tenant Representative
Corporate Real Estate Manager
Risk Manager
Compliance Officer
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