Occassionally one of our residents is transferred or is forced by extenuating circumstances to terminate their lease early. When that happens, Crown will rely on the language in the early termination stipulation of the lease that states:
Early Termination:
Provided resident is not in default hereunder at the time of giving notice, has strictly complied with all of the provisions of this agreement, is current with all fees due Management, and termination is as of the last day of a calendar month, Resident may terminate this Lease before the expiration date by:
Giving Management sixty (60) days written notice on the last day of the month; plus
Paying all monies due through date of termination; plus
Paying an amount equal to two month’s rent; plus
Return the Premises in clean and ready to rent condition; plus
Paying a $1,000 administration fee as liquidated damages as the parties agree, the precise amount of advertising costs, length of vacancy and other factors are impossible to ascertain at the outset and that the sum set forth in this paragraph is reasonable compensation for breach by the Resident under this paragraph. The foregoing shall not relieve Resident of his/her responsibilities and obligations regarding any damages to Premises. No proration will be given for percentage of lease term completed by Resident
Contact Crown as soon as possible in writing if you need to exercise your rights under this stipulation.
