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This document outlines the agreement between DBS Investments (the Lessee) and the City of Moberly, Missouri (the Lessor) to mutually terminate a lease for premises known as Lots One (1) through Six (6) of the Omar Bradley Airport. It details the effective termination date, obligations of both parties, return of possession, authority, and the entire agreement.
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What is mutual lease termination agreement?
A mutual lease termination agreement is a legal document in which both the tenant and the landlord agree to terminate a lease before its scheduled end date, outlining the terms and conditions of the termination.
Who is required to file mutual lease termination agreement?
Both the landlord and the tenant are required to sign and file the mutual lease termination agreement to ensure that both parties agree to the termination of the lease.
How to fill out mutual lease termination agreement?
To fill out a mutual lease termination agreement, both parties need to provide their names, the property address, the date of termination, and any agreements regarding security deposits or final payments.
What is the purpose of mutual lease termination agreement?
The purpose of a mutual lease termination agreement is to provide legal protection for both the landlord and the tenant by formalizing their decision to terminate the lease and detailing the conditions of this termination.
What information must be reported on mutual lease termination agreement?
The mutual lease termination agreement must include the names of the parties involved, the property address, the effective date of termination, and any stipulations regarding deposits or damages.
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