Free Assignment and Assumption Agreement

This Assignment and Assumption Agreement (the “Agreement”) is made and entered into as of the 6th day of September 2050, by and between Jane Smith, residing at 123 Maple Street, Springfield, IL 62701, and John Doe, residing at 456 Oak Avenue, Springfield, IL 62702.

I. Parties Involved

Original Tenant:

• Name: Jane Smith

• Address: 123 Maple Street, Springfield, IL 62701

New Tenant:

• Name: John Doe

• Address: 456 Oak Avenue, Springfield, IL 62702

Landlord:

• Name: [Your Name]

• Address: [Your Company Address]

II. Description of Lease

Original Lease Details:

III. Assignment Terms

Effective Date of Assignment:

The assignment of the lease shall become effective on the 1st day of October 2050.

Rights and Obligations:

Jane Smith hereby transfers and assigns all rights, title, and interest in the lease to John Doe, who agrees to assume all obligations under the lease agreement from the effective date.

Consent:

This assignment is subject to the landlord's written consent. The landlord has been notified and has provided consent as per the attached document.

Release of Original Tenant:

Jane Smith shall be released from all further obligations under the lease as of the effective date of this assignment.

IV. Representations and Warranties

Original Tenant's Representations:

• The lease is in full force and effect.

• No defaults or breaches exist under the lease.

New Tenant's Representations:

• The new tenant has reviewed the lease and agrees to assume all obligations.

• The new tenant has the financial capability to fulfill the lease obligations.

V. Governing Law

This Agreement shall be governed by and construed in accordance with the laws of the State of Illinois.

VI. Signatures

Original Tenant:

Name: Jane Smith
Date: October 1, 2050

New Tenant:

Name: John Doe
Date: October 1, 2050

Landlord:

Name: [Your Name]
Date: October 1, 2050

VII. Contact Information

Landlord Contact Information:

• Name: [Your Name]

• Email: [Your Email]

• Phone: [Your Company Number]

Original Tenant Contact Information:

• Name: Jane Smith

• Email: jane@email.com

• Phone: 222 555 7777

New Tenant Contact Information:

• Name: John Doe

• Email: john@email.com

• Phone: 222 555 7777

VIII. Miscellaneous

Entire Agreement:

This Agreement constitutes the entire understanding between the parties and supersedes all prior agreements and understandings.

Amendments:

No amendment or modification of this Agreement shall be valid unless made in writing and signed by all parties.

Severability:

If any provision of this Agreement is found to be invalid or unenforceable, the remaining provisions shall continue in full force and effect.

This document is executed in multiple copies, with each party receiving a copy for their records.

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