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Removing one co-tenant

I would like to remove one of the co-tenants from the current lease.  He is responsible for NOT paying on time or his check comes back NSF.  Then the second co-tenant pays the rent + plus late fee each month.  This has been going on for months 2-5 of 12 month lease.  I would like to create new lease with number 2 tenant for the remainder of the lease.  Can I do this in Colorado?

As long as 32 tenant is ok with it, of course.
Sounds like it is the number number two tenant's problem if they are make up the rent and paying the late fees.  Who is paying the bounced check fee?  I might suggest to tenant two that they collect number one's share of the rent and pay you with the whole amount that would cut out the late fee.  Also did you have them sign the roommate addendum or one like it that is available on this site?
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