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Termination Of Lease Agreement
"I need a Termination of Lease Agreement for my commercial warehouse in Riyadh, with early termination effective March 1, 2025, including specific provisions for removing industrial equipment and settling outstanding utility payments."
1. Parties: Identification of the Landlord and Tenant, including their full legal names, addresses, and national ID/CR numbers as required under Saudi law
2. Background: Reference to the original lease agreement, its date, property details, and the basis for termination
3. Definitions: Key terms used in the agreement including Property, Termination Date, Original Lease, etc.
4. Termination Date: Specific date when the lease will terminate and the tenant will vacate the property
5. Handover Requirements: Conditions for returning the property, including cleaning, repairs, and removal of personal belongings
6. Security Deposit: Terms for the return of the security deposit, including deductions if any
7. Outstanding Payments: Settlement of any remaining rent, utilities, or other charges
8. Release of Obligations: Mutual release of future obligations under the original lease
9. Governing Law: Confirmation that the agreement is governed by Saudi Arabian law
1. Early Termination Compensation: Required when termination occurs before the original lease end date, specifying any agreed compensation
2. Maintenance Issues: Used when there are specific maintenance or repair issues that need to be addressed before handover
3. Utilities Transfer: Required when utilities need to be transferred back to the landlord or cancelled
4. Key Return Protocol: Included when specific arrangements for key return and security access devices need to be detailed
5. Forwarding Address: Used when parties need to specify future contact details for post-termination communications
6. Dispute Resolution: Optional clause for specifying mediation or other dispute resolution procedures
1. Property Inspection Report: Detailed report on the current condition of the property, including photographs
2. Outstanding Payments Schedule: Itemized list of any remaining payments or credits between parties
3. Utility Readings: Final readings for electricity, water, and other utilities
4. Original Lease Agreement: Copy of the original lease agreement being terminated
5. Handover Checklist: Detailed list of items to be checked during the final property inspection
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