Common use of EARLY TERMINATIONS Clause in Contracts

EARLY TERMINATIONS. If at any time Resident desires to terminate this Lease prior to the lease end date of the current term, Resident may do so upon not less than 60 days prior written notice to Owner (which notice shall state Resident’s date of vacating the Apartment). For such privilege, Resident shall pay to Owner (in addition to rent and other sums due Owner hereunder to the date of termination) a termination fee, accompanying Resident’s notice of termination and in an amount equal to twice the monthly rental. If Resident fails to vacate the Apartment on or before the date of vacating specified in Resident’s notice, or in the event Resident fails to strictly adhere to the provisions hereof, Owner may retain any termination fee paid as liquidated damages for Owner’s additional trouble and administrative expenses and, in addition to such other damages as Owner may be able to recover from Resident, Owner may elect not to accept termination of this Lease.