Lease Assumption Agreement Template

This Lease Assumption Agreement ("Agreement") is made and entered into on [Document.CreatedDate] by and between [Assignor.FirstName][Assignor.LastName], the current tenant under the Lease Agreement ("Assignor"), and [Assignee.FirstName][Assignee.LastName], the party assuming the Lease Agreement ("Assignee").

I. BACKGROUND

The Assignor is currently a tenant under a Lease Agreement for the property located at (Property.Address) ("Property"). The Assignor desires to transfer its rights and obligations under the Lease Agreement to the Assignee, and the Assignee desires to assume such rights and obligations.

II. ASSUMPTION OF LEASE

The Assignee hereby assumes all rights and obligations of the Assignor under the Lease Agreement, effective as of (date). The Assignee shall be responsible for all payments due under the Lease Agreement from the effective date forward.

III. RELEASE OF ASSIGNOR

The Assignee hereby releases the Assignor from any and all liability for breaches of the Lease Agreement occurring on or after the effective date of this Agreement.

IV. LANDLORD'S CONSENT

The Assignee represents and warrants that it has obtained the written consent of the landlord under the original lease agreement to the assignment of the Lease Agreement to the Assignee. A copy of such consent is attached as Exhibit A.

V. GOVERNING LAW

This Lease shall be governed by and construed in accordance with the laws of the State of [Assignor.State].

VI. ENTIRE AGREEMENT

This Agreement constitutes the entire agreement between the Parties and supersedes any prior understandings or agreements, whether written or oral.

IN WITNESS WHEREOF, the parties have indicated their agreement to be bound by the terms and conditions of this Agreement by affixing their signatures below on the dates shown.