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Termination Of Land Lease Agreement
"I need a Termination of Land Lease Agreement for a commercial property in Tsim Sha Tsui, Hong Kong, where both parties have mutually agreed to end the lease early due to the tenant's business relocation, with the termination to take effect on March 1, 2025."
1. Parties: Identification of all parties to the termination agreement, including the lessor and lessee
2. Background: Recitals describing the original lease agreement, its key terms, and the parties' intention to terminate
3. Definitions: Definitions of key terms used in the agreement, including references to the original lease and property
4. Termination Date: Specific date when the lease will terminate and the premises will be surrendered
5. Mutual Agreement to Terminate: Express agreement by both parties to terminate the lease and surrender all rights thereunder
6. Surrender of Premises: Terms and conditions for the surrender of the premises, including condition requirements
7. Settlement of Accounts: Provisions for settling any outstanding rent, utilities, or other payments
8. Release and Discharge: Mutual release from future obligations under the lease, subject to any surviving provisions
9. Return of Security Deposit: Terms for the return of any security deposit, including timing and conditions
10. Governing Law: Confirmation that Hong Kong law governs the agreement
11. Execution: Signature blocks and execution requirements
1. Representations and Warranties: Additional confirmations by parties regarding their authority and capacity to terminate, used in more complex transactions
2. Surviving Obligations: List of any obligations that will survive termination, included when certain provisions need to continue
3. Confidentiality: Provisions regarding confidentiality of the termination terms, used in sensitive commercial situations
4. Dispute Resolution: Specific dispute resolution procedures, included for high-value or complex terminations
5. Third Party Rights: Provisions addressing rights of third parties under the Contracts (Rights of Third Parties) Ordinance, used when relevant
6. Government Notification: Requirements for notifying relevant government departments, included for certain types of land leases
7. Tax Provisions: Specific provisions regarding stamp duty or other tax implications, included when tax matters need addressing
1. Schedule 1 - Property Details: Detailed description of the property including lot number, address, and registered particulars
2. Schedule 2 - Original Lease Details: Key details of the original lease including date, registration particulars, and key terms
3. Schedule 3 - Condition Report: Current condition of the premises and any agreed repairs or modifications required before surrender
4. Schedule 4 - Settlement Statement: Detailed breakdown of all financial settlements including rent, deposits, and other payments
5. Appendix A - Property Photos: Photographs documenting the condition of the property at termination
6. Appendix B - Required Forms: Copies of any required government or Land Registry forms for termination registration
Authors
Real Estate
Commercial Property
Residential Property
Property Development
Property Investment
Property Management
Construction
Retail
Hospitality
Industrial
Agriculture
Education
Legal
Real Estate
Property Management
Facilities Management
Operations
Compliance
Finance
Asset Management
Administrative
Risk Management
Contract Management
Property Manager
Real Estate Director
Legal Counsel
Facilities Manager
Asset Manager
Property Development Manager
Leasing Manager
Commercial Director
Operations Manager
Contract Administrator
Real Estate Attorney
Property Administrator
Land Registration Officer
Compliance Officer
Real Estate Investment Manager
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