Deed of surrender for the early surrender of domestic property under a lease / tenancy. This is drafted in favour of the Tenant.
By an original agreement made between the Landlord of the one part and the Tenant of the other part, whereby All That the property at the Premises was let to the Tenant for a term of period, commencing on date subject to the terms and conditions therein contained.
Upon signing of the Agreement the Tenant paid to the Landlord security deposit (the "Security Deposit"). The Tenant is desirous of surrendering the unexpired residue of the Term created by the Agreement to the Landlord on the the Surrender Date and the Landlord has agreed to accept the surrender upon the terms and conditions hereinafter appearing.
The Tenant hereby agrees to deliver up vacant possession of the Premises by way of surrender and release unto the Landlord the Premises on the Surrender Date TO HOLD the Premises unto the Landlord for the residue now to come and unexpired of the Term TO THE INTENT that the same shall merge and be extinguished in the reversion immediately expectant upon the determination of the Agreement.
The Tenant hereby undertakes to discharge water charges, electricity charges, telephones charges and all other outgoings consumed in the Premises up to and inclusive of the Surrender Date and to observe all the other terms and conditions to be performed and observed by the Tenant under the Agreement up to and inclusive of the Surrender Date.