Mutual Lease Termination Agreement

Property: {{property_address}}

Landlord: {{landlord_name}}

Tenant(s): {{all_tenant_names}}

Original Lease: Executed on {{original_lease_date}}

Lease Term: {{lease_start_date}} through {{lease_end_date}}

Reason for Termination:

WHEREAS, the Landlord and Tenant(s) entered into a Residential Lease Agreement ("Original Lease") for the above-referenced property; and

WHEREAS, both parties mutually desire to terminate the Original Lease prior to its natural expiration date; and

WHEREAS, both parties acknowledge that this termination is voluntary and mutually agreed upon;

NOW, THEREFORE, in consideration of the mutual promises and agreements contained herein, the parties agree as follows:

Terms of Termination

Termination Date: The Original Lease shall be terminated effective as of {{termination_date}} ("Termination Date").
Release of Obligations: As of the Termination Date, both Landlord and Tenant(s) shall be fully and unconditionally released from any and all obligations, duties, and liabilities arising from or connected with the Original Lease, except as otherwise provided herein.
Security Deposit: The disposition of any security deposit held by Landlord shall be handled in accordance with applicable state law and any separate deposit settlement agreement between the parties.
Surrender of Premises: Tenant(s) shall vacate and surrender the premises in broom-clean condition on or before the Termination Date, returning all keys and access devices to Landlord.
No Further Claims: Each party releases and forever discharges the other from any and all claims, demands, damages, actions, or causes of action arising out of or related to the Original Lease, except for any obligations expressly surviving this Agreement.
Governing Law: This Agreement shall be governed by the laws of the Commonwealth of Pennsylvania.