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1. Parties: Identification of the landlord and tenant, including full legal names and addresses
2. Background: Details of the original lease agreement, including date of execution, property details, and reason for cancellation
3. Definitions: Key terms used in the agreement including 'Lease', 'Property', 'Termination Date', and 'Security Deposit'
4. Mutual Agreement to Terminate: Clear statement of both parties' agreement to terminate the lease and the effective termination date
5. Release and Discharge: Mutual release from lease obligations and any claims related to the lease
6. Security Deposit: Terms for the return of the security deposit, including timing and any deductions
7. Handover of Property: Requirements for property condition upon return and handover procedure
8. Governing Law: Specification that Hong Kong law governs the agreement
9. Execution: Signature blocks for all parties
1. Outstanding Payments: Include when there are any rent arrears, utility bills, or other payments to be settled
2. Reinstatement Works: Include when specific restoration or repair works are required before handover
3. Keys and Access Devices: Include when there are multiple sets of keys or access cards to be returned
4. Confidentiality: Include when parties wish to keep the terms of cancellation private
5. Third Party Rights: Include when there are guarantors or other third parties involved in the original lease
6. Surviving Provisions: Include when certain provisions of the original lease should survive termination
1. Schedule 1 - Property Details: Detailed description of the property including address and identifying features
2. Schedule 2 - Original Lease: Copy or key details of the original lease agreement
3. Schedule 3 - Inventory List: List of fixtures and fittings to be checked during handover
4. Schedule 4 - Settlement Statement: Detailed breakdown of any financial settlements including security deposit deductions
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