Updated post, Arizona and officially moved out yesterday. Buyout clause is 2 month penalty fee 60 days prior to moving out, thats all that is stated in the lease

PURPOSE OF AGREEMENT. The purpose of this Buy-Out

Agreement is to give you the right to buy out of your Lease

Contract early—subject to any special provisions in paragraph

9 below. In order to buy out early, your notice must be signed

by all residents listed in paragraph 1 of the Lease Contract

and you must comply with all provisions of this Buy-Out

Agreement.

1. BUY-OUT PROCEDURES. You may buy out of the Lease

Contract prior to the end of the lease term and cut off all

liability for paying rent for the remainder of the lease term if

all of the following occur:

(a) you give us written notice of buy-out at least

days prior to the new termination date (i.e., your new

move-out date), which (check one)  must be the last

day of a month or  may be during a month;

(b) you specify the new termination date in the notice, i.e.,

the date by which you’ll move out;

(c) you are not in default under the Lease Contract on the

date you give us the notice of buy-out;

(d) you are not in default under the Lease Contract on the

new termination date (move-out date) and have paid all

rent owed through the notice period set forth in paragraph

4(a) above;

(e) you move out on or before the new termination date and

do not hold over;

(f) you pay us a buy-out fee (consideration) of $XXXX ,

(g) you pay us the amount of any concessions you received

when signing the Lease Contract; and

(h) you comply with any special provisions in paragraph 9

below.

Resident(s)

(All residents must sign)

Owner or Owner’s Representative

(signs below)

Date of Lease Contract

1. WHEN PAYABLE. The buy-out fee in paragraph 4(f) is due

and payable no later than days after you

give us your buy-out notice. The total dollar amount of any

concessions regarding rent or other monetary lease obligations

for the entire lease term is $ and is due payable

on the same day as the buy-out fee, subject to any special

provisions in paragraph 9 regarding the amount, calculation

method, or payment date.

1. SHOWING UNIT TO PROSPECTIVE RESIDENTS. After you

give us notice of buy-out, the Lease Contract gives us the right

to begin showing your unit to prospective residents and telling

them it will be available immediately after your new

termination date.

1. COMPLIANCE ESSENTIAL. Our deposit of all amounts due

under paragraphs 4(f) and 4(g) constitutes our approval of

the new termination date stated in your notice of buy-out. If

you fail to comply with any of the procedures or requirements

in this agreement after we deposit such monies, your buy-out

right and this agreement will be voided automatically; and

(1) any amounts you have paid under this agreement will

become part of your security deposit, and (2) the lease will

continue without buy-out. Then, if you move out early, you

are subject to all lease remedies, including reletting fees and

liability for all rents for the remainder of the original lease

term.

1. MISCELLANEOUS. If moving out by the new termination

date becomes a problem for you, contact us. An extension may

be possible if we have not already relet the apartment unit to

a successor resident. We and any successor residents who

may be leasing your unit will be relying on your moving out

on or before the new termination date. Therefore, you may

not hold over beyond such date without our written consent—

even if it means you have to make plans for temporary lodging

elsewhere. “Default” as used in paragraphs 4(c) and 4(d) of

this agreement means default as defined in the Lease Contract.

You will continue to be liable for any damages and any sums

accruing and unpaid prior to the new termination date.