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LEASE ASSIGNMENT AGREEMENT

 

AGREEMENT entered into this ______________________, ________ by and between ____________________________, "Assignor" and __________________________, "Assignee" and ______________________________, "Landlord".

The Assignor is the tenant of leased premises located at _____________________________________________________.

The Assignor desires to assign said lease rights to _________________________________ and the Assignee desires to acquire said lease.

For good and valuable consideration, which is hereby acknowledged, the parties agree as follows:

1. The Assignor shall assign it rights in the above mentioned lease to the Assignee. The lease representing said leasehold interest is attached and made a part hereof as Exhibit "A."

2. The purchase price for the sale of the lease rights as described in paragraph 1 above shall be _______________________________ ($_______). The Assignee shall tender to the Landlord a check in the amount of ____________________________ ($_______).

3. The Assignor shall vacate the leased premises by ______________________, ________. The Assignor may vacate the leased premises prior to ____________________, ________, provided that the Assignor notifies the Landlord and the Assignee of such occurrence at least _______ weeks prior to the date of vacating. The leased premises shall be left in broom-clean condition, and the Assignor shall, prior to the date of vacating, remove from the leased premises all items personally belonging to the Assignor.

4. The Assignee hereby agrees to reimburse the Assignor for all rents paid by the Assignor to the Landlord that represent rental payments for the period of time after the date of vacating by the Assignor.

5. The waiver by any party to this agreement of a breach of any provision of this agreement by any party shall not operate or be construed as a waiver of any subsequent breach by any party. No waiver shall be valid unless in writing and signed by the parties to this agreement.

6. This agreement shall be interpreted in accordance with the laws of the state of _________________.

7. In the event that any part of this agreement is held to be void, invalid or unenforceable in any respect, then the same shall not affect the remaining parts, which shall continue in full force and effect.

8. This agreement shall bind the parties, their legal representatives, successors and assigns. The Assignee assumes and undertakes all of the terms and conditions of the lease as his own obligation.

9. This agreement contains the entire understanding of the parties. It may not be changed orally. This agreement may be amended or modified only with such writing being executed by the parties.

IN WITNESS WHEREOF, the parties have caused this agreement to be executed on the date first above written.

_____________________________

Landlord

_____________________________

Assignor

_____________________________

Assignee

 

 

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