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1. Parties: Identification and details of the landlord and tenant, including full legal names, addresses, and any relevant registration numbers
2. Background: Description of the existing lease agreement, property details, and the parties' desire to mutually terminate the relationship
3. Definitions: Definitions of key terms used in the agreement, including 'Lease Agreement', 'Property', 'Effective Date', and 'Claims'
4. Acknowledgment of Lease Termination: Formal acknowledgment of the termination of the lease agreement and the effective date
5. Mutual Release: Core provisions where both parties release each other from all claims, demands, and liabilities related to the lease
6. Security Deposit: Details of the security deposit settlement, including amount, deductions if any, and return timeline
7. Property Handover: Terms and conditions for the handover of the property, including inspection requirements and key return
8. Representations and Warranties: Statements by both parties confirming their authority to enter into the agreement and that no assignment of rights has occurred
9. Governing Law: Specification that the agreement is governed by Indian law and the relevant state jurisdiction
10. Entire Agreement: Clause stating that this document represents the complete agreement between the parties
11. Execution: Signature blocks and execution details for both parties
1. Dispute Resolution: Include when there are existing disputes or potential areas of conflict that need specific resolution procedures
2. Outstanding Payments: Include when there are pending rent payments, utility bills, or other financial obligations to be settled
3. Repairs and Maintenance: Include when there are ongoing repairs or maintenance issues that need to be addressed before release
4. Confidentiality: Include when either party requires confidentiality about the terms of the release or the circumstances leading to it
5. Survival Clause: Include when certain obligations need to survive the termination of the lease agreement
6. Third Party Rights: Include when there are guarantors or other third parties involved in the lease agreement
1. Schedule A - Property Details: Detailed description of the property including address and any included fixtures or fittings
2. Schedule B - Security Deposit Calculation: Detailed breakdown of security deposit, including any deductions and final settlement amount
3. Schedule C - Property Inspection Report: Final inspection report detailing the condition of the property at handover
4. Schedule D - Outstanding Obligations: List of any pending obligations, payments, or tasks to be completed by either party
5. Appendix 1 - Original Lease Agreement: Copy of the original lease agreement being terminated
6. Appendix 2 - Handover Checklist: Checklist for property handover including utilities, keys, and maintenance items
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