Mutual Termination Of Commercial Lease Agreement Template for South Africa

1. Retention of Rights: Used when certain rights or obligations from the original lease should survive termination

2. Reinstatement Obligations: Include when the property must be restored to its original condition

3. Outstanding Improvements: Required when dealing with tenant improvements or fixtures that need to be addressed

4. Third Party Notifications: Include when there are requirements to notify third parties (e.g., banks, insurers) of the termination

5. Dispute Resolution: Optional detailed dispute resolution process if not covered in general terms

6. Tax Implications: Include when there are specific tax considerations that need to be addressed

7. Assignment of Contracts: Used when there are service contracts or other agreements that need to be assigned or terminated

1. Schedule A - Property Description: Detailed description of the leased premises including physical address and legal description

2. Schedule B - Financial Settlement: Detailed breakdown of all financial settlements, including final accounts and deposit calculations

3. Schedule C - Handover Checklist: Comprehensive list of items to be checked during property handover

4. Schedule D - Original Lease Agreement: Copy or reference to the original lease agreement being terminated

5. Schedule E - Condition Report: Current condition of the property and any agreed damages or wear and tear

6. Appendix 1 - Keys and Access Devices: Inventory of all keys, access cards, and security devices to be returned

7. Appendix 2 - Utility Readings: Final utility meter readings and associated documentation