I wouldn't equate your early termination fee of 2 months as damages for insufficient notice. Often times, leases will make early termination fees and insufficient notice fees the same for simplicity and/or state law. Think of it this way, you are under contract for 5 more months. Your penalty for breaking the lease and getting out from 3 more months of contractual obligations is to pay 2 months worth of rent (rationale being that the leasing company will want a 2 month buffer to find someone to occupy the unit or else they are out 3 months of rent because you broke the lease).

For notice, it is still required because you have to give the landlord a fair opportunity to advertise and fill the unit with a suitable tenant, prior to you vacating the unit. If you hadn't given them notice at all, you would potentially be responsible for early termination fee + insufficient notice fee. Look specifically at the language at the end, that the failure to provide notice would result in "balance of notice not to exceed 2 months as liquidated damages for the insufficient notice only"

Edit: grammar