This Lease Termination Agreement involves
Title: MUTUAL LEASE TERMINATION AGREEMENT
Industry: Aerospace and Defense Sector: Capital Goods
MUTUAL LEASE TERMINATION AGREEMENT
THIS MUTUAL LEASE TERMINATION AGREEMENT is made this 20 th day of January 2009, by and between WELCOME HOLDINGS, L.L.C., a Florida limited liability company (hereinafter “Landlord”) and SIGNATURE SPECIAL EVENT SERVICES, INC., a Maryland corporation (hereinafter “Tenant”).
WHEREAS, by a lease agreement dated February 22, 2007 (the “Lease”), Landlord leased to Tenant and Tenant leased from Landlord, certain premises commonly known as 750 Central Florida Parkway, Orlando, Florida comprised of two buildings, one office trailer and lot space (“Premises”) for a term commencing April 1, 2007 and expiring on March 31, 2012; and
WHEREAS, Landlord and Tenant mutually desire to terminate the Lease and all rights and obligations of the respective parties under the Lease.
NOW, THEREFORE, in consideration of the mutual promises and provisions herein contained, and in consideration of and conditioned upon, Tenant paying Landlord, within five (5) days of Tenant receiving a signed Mutual Lease Termination Agreement from Landlord, the sum of $150,000.00, representing a $180,000.00 lease termination fee less the security deposit in the sum of $30,000.00 (said security deposit having been previously deposited with Landlord) which Landlord shall retain, Landlord and Tenant agree as follows:
1. Landlord and Tenant do hereby terminate fully and surrender the Lease effective as of January 31, 2009.
2. Except as provided in Sections 3, 4, 5, 6 and 7 hereof, and conditioned upon said payment of $150,000.00 by Tenant to Landlord as described above, Landlord and Tenant shall be fully and unconditionally released and discharged from their respective obligations arising from or connected with the provisions of the Lease. Except as provided in Sections 3, 4, 5, 6 and 7 hereof, this Mutual Lease Termination Agreement shall fully and finally settle all demands, charges, claims, accounts, and/or causes of action of any nature, including, without limitation, both known and unknown claims and causes of action that arose out of or in connection with the Lease, and this Mutual Lease Termination Agreement constitutes a full and complete mutual release with respect to the Lease and the r