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. r . ?? .? . <br />WHEREAS, Special Children First of Ohio, Inc. has recently terminated its operations on <br />the Property and Horizon has no desire to renew its operations on the Property; and <br />WHEREAS, Horizon, duly acting through its Board of Trustees, has notified the City of <br />its desire to terminate the lease upon the Property and has delivered to the City written notice of <br />its intent to terminate the lease on the Property effective December 28, 2004, or sooner if so <br />authorized by the City; and <br />WHEREAS, the Council of the City of North Olmsted, acting pursuant to Resolution No. <br />2004- /?, has authorized the Mayor of the City of North Olmsted to execute an agreernent <br />immediately terminating the lease of the Property between the City and Horizon; <br />NOW, THEREFORr. in consideratioil of these presents and the mutua] promises and <br />undertakings herein contained, and for other good, sufficient and valuable consideration, the <br />receipt and sufficiency of which are hereby acknowledged, the parties of this Cancellation and <br />Termination of Lease Agreement do hereby covenant and agree as follows: <br />l. Vacation Surrender and Abandonment of the Propert y. Horizon hereby confirm.s its <br />vacation, surrender and abandonment of the Property, including all land, tenements, <br />hereditaments, fixtures and personal property located thereon, to the City, <br />immediately upon execution of this Agreement. <br />2. Immediate Termination of Lease Agreement. The City hereby waives the <br />requirement in the Lease for a 60-day advance notice of termination of the Lease, and <br />consents to and authorizes the immediate termination of the Lease with Horizon for <br />the Property located at 26272 Butternut Ridge Road, effective immediately upon the <br />execution of this Agreement. <br />IN WITNESS WHEREOF, the City has caused this Cancellation and Termination of <br />Lease Agreement to be executed by its Mayor, and Horizon has caused this Cancellation and <br />Termination of Lease Agreement to be executed by its Executive Director, as of the date first <br />above written. <br />4