DEED OF SURRENDER OF LEASE

THAT DEED OF SURRENDER OF LEASE made and entered into at …..……….. day of ……….. Between ………………………… hereinafter called “Lessee” (which expression shall unless repugnant to the context or meaning thereof be deemed to include his/their heirs, executors, administrator, representative and assigns) of the One part and ………………………… hereinafter called “Lessor” (which expression shall unless repugnant to the context or meaning thereof be deemed to include his/their heirs, executors, administrator, representative and assigns) of the Other Part.

WHEREAS by an Indenture dated ………… made between the parties hereto and registered in ………… it was witnessed that the said ……………….. did in consideration of the rent thereby and thereunder reserved and of the convenants and conditions to be observed and performed on the part of the said …………………. as therein contained granted and demised by way of lease the property fully mentioned and described in the schedule hereto for a term of ……… years AND WHEREAS such lease is in full force and virtue and all rents and conditions reserved by and contained thereunder on the part of the lessee to be paid, observed and performed, have been duly paid, observed and performed by the said ………………. up to the date of these presents AND WHEREAS the lessee was at all material times and is presently in possession of the property since the execution of the lease. AND WHEREAS for personal reasons and consideration the said ……………… having desired to be relieved from any further payment of such rent and performance of the covenants and conditions approached the said ………………. For a surrender of the said lease and delivery of the possession of the property AND WHEREAS the said …………… has agreed to accept from the said ……………… a surrender of the aforesaid lease of the said premises : NOW THIS DEED WITNESSES that in pursuance of the said agreement and in consideration of a sum of Rs……….. being the toke consideration paid by the said ……………… to ……………… the said ……………… as beneficial user of the said property do hereby give up and relinquish all his leasehold estate and interest in and surrender and deliver possession to the said …………… of the premises (or etc.) comprised in and by the said deed of lease TO HOLD THE INTENT and object that the same shall stand determined to all intents and purposes and that the residue of the said term of ………. Years created by the said deed of lease, and all other rights and interests of the said ……………… in the said premises (or etc.) under or by virtue of the said deed shall stand extinguished and merged in the reversion freehold and inheritance of the premises with immediate effect as if the said lease was never granted for intended.

AND THIS INDENTURE further witnesses that in consideration of the surrender of the lease which is accepted by the lessor he the said ……………… do hereby release and discharge the Leasee ………………, his successor of future rent and/or arising out of performance or non-performance of the covenants, conditions provided under the hereinbefore recited Indenture of lease.

IN WITNESS WHEREOF the parties hereto have hereunto set their respective hands and seal the date and year first hereinabove written.

 

Signed and delivered by the withinnamed Lessor Mr.………. in the presence of .………

Signed and delivered by the withinnamed Lessee Mr.……… in the presence of .………