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[NOTE: This is a very pro-assignee form. It transfers renewal options to the assignee that might not transfer per the terms of the lease. It also contains representations and warranties from landlord and contemplates changes to the underlying lease.]

ASSIGNMENT AND ASSUMPTION OF LEASE

AND LANDLORD’S CONSENT

This ASSIGNMENT AND ASSUMPTION OF LEASE AND LANDLORD’S CONSENT (“Assignment”) is entered into this ____ day of _______, ________ by and among _________________________a ____________________ (“Assignee”), _________________________________, a _________________________ (“Assignor”) and ________________________(“Landlord”).

RECITALS

A.

On or about ________ Assignor entered into that certain lease with Landlord, a true, correct and complete copy of which is attached hereto as Exhibit A (the “Lease”), for approximately ________ square feet of space in the ________ located at ________ (the “Premises”).  

B.

As of the Effective Date (as hereinafter defined), Assignor desires to assign all of Assignor’s right, title and interest in and to the Lease to Assignee, wherein Assignee will become the tenant under the Lease and Assignee desires to accept such assignment.  

C.

Landlord is willing to consent to this Assignment, release Assignor from liability under the Lease arising on and after the Effective Date and to modify and amend the Lease as more fully set forth herein.

AGREEMENT

NOW, THEREFORE, in consideration of the foregoing and the mutual covenants hereinafter set forth, the parties agree as follows:

1.

Assignment and Assumption of Lease.  Effective as of _____, 200__ (the “Effective Date”), Assignor shall sell, transfer and assign to Assignee all of Assignor’s right, title and interest in and to the Lease, including, but not limited to the right to possession of the Premises and all security deposits held by Landlord.  As of the Effective Date, Assignee hereby accepts such assignment and assumes and agrees to perform the obligations under the Lease arising, on and after the Effective Date, subject to the terms and conditions set forth herein.

2.

Representations and Warranties of Assignor.  In consideration of Assignee’s acceptance and assumption of the Lease, as set forth herein, Assignor represents and warrants to Assignee as follows:

a.

A true, correct and complete copy of the Lease, as modified or amended, is attached hereto as Exhibit A and the Lease constitutes the entire agreement between Assignor and Landlord with respect to Premises.  

b.

The Lease is in full force and effect.

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