Lease Termination Agreement between Mountain Trace Nursing ADK, LLC and Vero Health X, LLC (November 14, 2024)
This agreement, dated November 14, 2024, is between Mountain Trace Nursing ADK, LLC (Landlord) and Vero Health X, LLC (Tenant). It terminates the existing lease for a nursing facility in Sylva, North Carolina, effective upon the transfer of operations to a new operator. Both parties mutually release each other from further obligations under the lease, except for obligations under a separate operations transfer agreement. The Tenant confirms surrender of the premises, and the Landlord retains any deposits previously posted by the Tenant.
Exhibit 10.87
Execution
LEASE TERMINATION AGREEMENT
THIS LEASE TERMINATION AGREEMENT (this “Termination Agreement”) is made and entered into as of the 14th day of November 2024, by and between Mountain Trace Nursing ADK, LLC (“Landlord”) and Vero Health X, LLC (“Tenant”).
RECITALS
NOW, THEREFORE, in consideration of the sum of Ten & No/100 DOLLARS ($10.00) and other good and valuable consideration, the receipt, sufficiency, and adequacy of which are hereby acknowledged, Landlord and Tenant hereby agree as follows:
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Lease Termination Agreement - OTA
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Lease Termination Agreement - OTA
SIGNATURE PAGE TO LEASE TERMINATION AGREEMENT
IN WITNESS WHEREOF, the parties have duly executed this Termination Agreement on the day and year set forth above.
LANDLORD:
Mountain Trace Nursing ADK, LLC
an Ohio limited liability company
By: /s/ Brent Morrison
Name: Brent Morrison
Its: Authorized Signatory
TENANT:
Vero Health X, LLC
a Delaware limited liability company
By: /s/ Connor Reilly
Name: Connor Reilly
Its: Manager
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Lease Termination Agreement - OTA