FORM OF TERMINATION OF RIGHT OF FIRST REFUSAL LEASE EXHIBIT
EXHIBIT [INSERT APPLICABLE LETTER]
FORM OF TERMINATION OF RIGHT OF FIRST REFUSAL
RECORDING REQUESTED BY
AND WHEN RECORDED MAIL TO:
REAL ESTATE LENDER
Attn: Loan Servicing
1234 Main Street
Anytown, CA 93344
TERMINATION OF RIGHT OF FIRST REFUSAL
This Termination of Right of First refusal ("Termination") is dated as of this ___ day of ______ by and between Successful Landlord, LLC a _____________ limited liability company ("Landlord") and Promising Tenant, Inc., a _____________ corporation ("Tenant").
A. Landlord and Tenant are the landlord and tenant, respectively, under that certain Lease dated as of _________ (the "Lease"), relating to certain real property located in the City of _______________________, County of _______________________, State of _____________, more particularly described in Exhibit "A" attached hereto (the "Property").; and
B. Pursuant to Article __ of the Lease, Landlord has granted to Tenant the right of first refusal to purchase (the "Right of First Refusal") the Property and the improvements and certain other property located thereon.
C. Landlord and Tenant caused to be recorded at Book __, Page __ [or as Instrument No. _________] in the Official Records of ______________ County, _____________, that certain Memorandum of Lease, in order to put interested parties on notice of the Right of First Refusal.
D. The Right of First Refusal has been terminated and is no longer of any force or effect.
E. Landlord and Tenant now desire to cause this Termination to be recorded in the Official Records of _______________________ County, _____________, in order to put interested parties on notice that the Right of First Refusal has been terminated.
Now, therefore, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Landlord and Tenant hereby (a) terminate the Right of First Refusal, (b) agree that the Right of First Refusal has terminated, and (c) agree that the Right of First Refusal is void and of no force or effect.
In Witness Whereof, Landlord and Tenant have executed this Termination as of the date first written above.
Successful Landlord, LLC,
a _____________ limited liability company
Promising Tenant, Inc., a _____________ corporation
[ALL SIGNATURES MUST BE NOTARIZED]