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Lease Surrender Agreement Template
"I need a Lease Surrender Agreement Template for a single retail shop in Melbourne, with the surrender to take effect from March 1, 2025, including standard make-good provisions and settlement of outstanding rent."
1. Parties: Identification of the landlord and tenant, including full legal names and relevant contact details
2. Background: Recitals explaining the existing lease arrangement and the parties' intention to surrender it
3. Definitions: Definitions of key terms used throughout the agreement
4. Surrender: Core provision documenting the surrender of the lease and its effective date
5. Consideration: Details of any payment or consideration for the surrender
6. Release: Mutual release of parties from lease obligations and any claims
7. Handover Requirements: Specifications for returning the premises, including condition requirements
8. Settlement of Accounts: Provisions for settling outstanding rent, outgoings, and other financial matters
9. Confidentiality: Obligations regarding confidentiality of the surrender terms
10. Costs: Allocation of legal and other costs related to the surrender
11. GST: Treatment of GST in relation to the surrender
12. Execution: Formal execution provisions including signing requirements
1. Make Good Obligations: Detailed requirements for premises restoration, used when specific renovation or restoration work is required
2. Third Party Consents: Requirements for obtaining consents from mortgagees or other interested parties, included when third-party approvals are needed
3. Bank Guarantee/Security Deposit: Provisions for handling existing security, included when security was provided under the original lease
4. Outstanding Incentives: Treatment of any unexpired lease incentives, included when original lease contained incentives
5. Assignment of Rights: Transfer of any continuing rights or obligations, included when certain rights need to be preserved
6. Dispute Resolution: Specific dispute resolution procedures, included for complex surrenders or when required by jurisdiction
7. Registration: Requirements for registration of the surrender, included when dealing with registered leases
1. Schedule 1 - Lease Details: Details of the original lease including date, parties, and premises description
2. Schedule 2 - Settlement Figures: Detailed breakdown of all financial settlements including rent, outgoings, and adjustments
3. Schedule 3 - Handover Inventory: List of items to be left/removed from premises and their condition
4. Schedule 4 - Make Good Specification: Detailed requirements for premises restoration if applicable
5. Appendix A - Condition Report: Current condition of premises documented with photographs if required
6. Appendix B - Required Consents: Copies of third-party consents where required
Authors
Real Estate
Retail
Commercial Property
Industrial
Hospitality
Healthcare
Education
Professional Services
Manufacturing
Logistics
Banking and Finance
Technology
Legal
Property Management
Operations
Finance
Compliance
Risk Management
Real Estate
Asset Management
Facilities Management
Commercial Leasing
Corporate Services
Administration
Property Manager
Facility Manager
Legal Counsel
Real Estate Manager
Commercial Leasing Manager
Asset Manager
Operations Manager
Chief Financial Officer
Lease Administrator
Property Portfolio Manager
Compliance Officer
Risk Manager
Company Secretary
General Counsel
Commercial Director
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