SHORT-TERM COMMERCIAL LEASE AGREEMENT
This Short-Term Commercial Lease Agreement is made on ________ between ________, of the following address:
________
hereinafter referred to as (the "Landlord" which expression shall where the context so admits include its successors-in-title and assigns) of the first part;
AND
________, of the following address:
________
hereinafter referred to as (the "Tenant" which expression shall where the context so admits include its successors-in-title and assigns) of the second part.
WHEREAS
A. The Landlord is the beneficial owner of the Rental Property.
B. Subject to the terms and conditions hereinafter contained, the Landlord hereby grants the possession of the Rental Property to the Tenant.
In consideration of the payment of the rent and the covenants contained herein, the receipt of which is hereby acknowledged, the Parties hereby agree as follows:
1. THE LEASE
1.1. Subject to the terms and conditions of this Agreement, the Landlord agrees to lease the following Rental Property to the Tenant (the "Rental Property"):
________
1.2. The Rental Property is furnished and is described as follows:
________
1.3. The Tenant agrees to comply with the terms and conditions of this Lease.
2. USE OF RENTAL PROPERTY
2.1. The Rental Property shall be used for commercial purposes only and no part of the Rental Property shall be used for any other purpose.
2.2. The Rental Property may be used for additional purposes only with the prior express consent of the Landlord.
2.3. The Tenant agrees to use the Rental Property solely for the Permitted Use, without variation. The Tenant will operate their business under the designated name of the Tenant business name and shall not alter this name without obtaining prior written consent from the Landlord, such consent not to be unreasonably withheld. It is understood that upon the Commencement Date, the Tenant shall promptly open the entire Rental Property for public business, fully equipped, stocked, and staffed.
2.4. Throughout the lease, the Tenant commits to maintaining continuous occupancy and utilization of the entire Rental Property for the active operation of its business in a reputable manner, adhering to the business hours as determined by the Landlord.
2.5. The Tenant undertakes to conduct its business on the Rental Property in compliance with all applicable federal, provincial, municipal, and other regulatory statutes, bylaws, rules, and regulations. The Tenant shall refrain from engaging in any actions on or within the Rental Property that contravene any of these regulations.
3. TERM OF LEASE
3.1. This Agreement shall commence on ________ (the "Commencement Date") and shall end on ________ (the "Expiration Date").
3.2. On the Expiration Date, the Tenant shall vacate the Rental Property unless the Landlord and Tenant mutually agree to a lease extension.
4. RENT
4.1. The Tenant shall pay the sum of ₦________ (________) every week. The rent shall be due on Mondays. The rent shall be considered advance payment for that week.
4.2. The Tenant shall pay the reserved rent in cash.
5. SECURITY DEPOSIT
5.1. Upon execution of this Agreement, the Tenant shall deposit with the Landlord the sum of ₦________ (________) as security for any damage which may be caused to the Rental Property during the said period of the Lease.
5.2. The Tenant shall pay the deposit in the method described in 4 above.
6. SERVICE CHARGE
6.1. The Tenant hereby agrees to pay a service charge of ₦________ (________) weekly.
6.2. The Service charge will cover the following:
________
7. CONDITION OF THE RENTAL PROPERTY
The Tenant agrees that the Rental Property is in good order, repair and condition and located in a clean and safe environment.
8. QUIET ENJOYMENT
The Landlord agrees that if the Tenant promptly pays the said rent and observes all the terms, conditions and covenants contained in this Agreement, the Tenant shall, during the term of the Lease, enjoy quiet and peaceful possession of the Rental Property.
9. COVENANTS OF THE TENANT
The Tenant covenants with the Landlord as follows:
(I) to pay the reserved rent in the aforesaid;
(II) to keep the Rental Property, the fixtures and fittings in good repair and condition at all times with reasonable wear and tear;
(III) to comply with all terms and conditions of this Agreement;
(IV) to respect the laws on the safety, sanitation, maintenance, and habitability of the dwelling;
(V) to keep the Rental Property in good sanitary condition always;
(VI) not to destroy, damage or remove any part of the fixtures, fittings or any part of the Rental Property;
(VII) to use all fixtures and fittings in a reasonable manner;
(VIII) to keep all fixtures and fittings in good and proper condition;
(IX) not to alter or replace any locks on the Rental Property; and
(X) not to use or permit the use of the Rental Property for any illegal or immoral purpose.
10. COVENANTS OF THE LANDLORD
The Landlord hereby covenants with the Tenant as follows:
(I) that upon the timely payment of the reserved rent and observing the covenants, the Tenant shall enjoy quiet and peaceful possession;
(II) that the Rental Property is in good and habitable condition;
(III) to keep the Rental Property insured against loss or damage by fire and such other risks as the Landlord may deem desirable and expedient and to pay all premium payments necessary promptly;
(IV) to pay and discharge all existing and future ground rent imposed or charged by any law in respect of the Rental Property during the term of the Lease;
(V) to deliver possession of the Rental Property in a good state of repair, habitable and clean condition at the expiration of the term of the Lease; and
(VI) to respect the laws pertaining to the safety, sanitation, maintenance and habitability of the dwelling.
11. TELEPHONE USE AND INTERNET
The Rental Property shall be equipped with a telephone and wifi, which is included in the rent fees. The Tenant acknowledges that while the internet services will be provided, the quality and stability of the internet connection may vary.
12. UTILITIES
The Landlord shall be responsible for the payment of electricity bills, water bills, environmental sanitation bills, and other utilities as agreed by the Parties.
13. INSURANCE
13.1. The Tenant acknowledges that the Landlord shall not insure the Tenant's personal Rental Property against damage or loss, and consequently, the Landlord bears no liability for such occurrences. Hence, the Tenant shall obtain the requisite insurance coverage.
13.2. The Tenant shall insure the Rental Property and its furniture and appurtenance within the Rental Property against damage or loss, solely for the benefit of the Landlord.
13.3. The Tenant shall procure insurance coverage for the Rental Property, encompassing structural, mechanical, and improvement aspects of the building on the Rental Property, which shall cover various risks including but not limited to fire, theft, vandalism, flood, and other disasters, serving the interests of both the Tenant and the Landlord.
13.4. The Tenant is responsible for obtaining liability insurance to cover any damages, loss, or injuries resulting from fire, flood, or any act of God suffered by the Tenant's clients, customers, properties, licensees, and other third parties.
14. RENEWAL OF THE LEASE
The Landlord may upon the request of the Tenant, extend the Lease for a further period as agreed by the Parties subject to a revised rent. The notice must be given in writing.
15. MAINTENANCE AND REPAIR
15.1. The Tenant shall at all times maintain and keep the Rental Property and appurtenances in good sanitary condition and repair with reasonable wear and tear during the term of this Agreement and any renewal thereof.
15.2. If at the end of the term of this Lease, it is discovered that any of the fixtures and fittings are missing or not kept in proper condition, the Tenant agrees to repair, replace, or pay for its replacement.
16. MAINTENANCE OF ORDER
The Tenant agrees as follows:
(I) not to make or permit the making of any loud or improper noises or otherwise cause nuisance to other residents in the area; and
(II) not at any time during the said term, create or permit to be done in the said Rental Property, any act which may constitute nuisance or annoyance to neighbours and occupiers of adjoining Rental Property.
17. ALTERATIONS AND IMPROVEMENT OF THE RENTAL PROPERTY
17.1. The Tenant shall not without obtaining the prior consent of the Landlord, do as follows:
(I) paint, or significantly alter the appearance of the Rental Property;
(II) place or permit the placement of any placard, notice, poster or any sign for advertising or other purpose inside and outside the Rental Property;
(III) install any plant, equipment, machinery or apparatus;
(IV) demolishing, rebuilding or restructuring any part of the Rental Property;
(V) construct, alter, change or make any improvements in the building.
17.2. If the Landlord approves any alteration, additions or improvements and the Tenant intends to use contractors to undertake such work, such contractors or persons must be approved by the Landlord.
18. 88 8555282585 88 558255
552 522522 252 222 85882582, 588822, 25 25528225 522 2552 22 252 822258 25222522 22 5225228 25 25855 2552828 8825252 252 2525288 8582222 8228222 22 252 85258255.
19. 5285582
________. 5222822 88 82588282 2525888225 828852 252 822258 25222522, 828855822 588 22882825 55258. 5588 5228828 22 588 22228 22 8222822 252258588, 828855822 852 222 8828225 22 8825522228, 882558, 28228, 525 2828252288 8825522228.
________. 8288225225 8222822 55258 252 82 25288525 2528852 252 822258 25222522. 552 522522, 25285 858222258, 8882228, 25 88882258 852 8885 22 82222 2582 582 25282 5288225225 55258 525 25222582 5882282 22 25285 8222822 252258588 82 5288225225 52822258828.
20. DANGEROUS MATERIALS
The Tenant agrees not to keep or permit the keeping of dangerous materials on or around the Rental Property.
21. DAMAGE TO RENTAL PROPERTY
If any part of the Rental Property is damaged or destroyed by fire, earthquake or any other natural cause, the Lease shall terminate at the date of the destruction.
22. ILLEGAL USE
The Tenant or their visitors shall not use the Rental Property for any illegal purpose, including but not limited to drug use, prostitution, or any other activities prohibited by the laws of the country. If found to be in breach of this clause, the Tenant may be forced to vacate the Rental Property and the Lease shall terminate immediately.
23. KEYS AND LOCKS
The Tenant shall not alter or replace any locks on the Rental Property without the written consent of the Landlord. The Tenant shall not add any locks on the Rental Property without the consent of the Lessor. If the Tenant installs additional locks (with the Landlord's consent), the locks shall stay on the Rental Property at the Expiration Date of this Lease.
24. TERMINATION
24.1. The Tenant may not terminate this Agreement prior to the date of the termination. If the Tenant vacates or abandons the Rental Property before the Expiration Date, the Tenant shall be liable for any unpaid rent or fees until the natural termination of this Lease.
24.2. The Lease may be terminated at any time by either the Landlord upon the issuance of the following notice to the other Party: ________.
24.3. At the expiration or termination of the Lease, the Tenant shall quit, surrender and deliver the Rental Property together with all appurtenances attached and or appropriated thereto in the same condition it was at the commencement of this Lease with reasonable wear and tear.
25. FORFEITURE FOR NON-PAYMENT
25.1. In the event that the Tenant defaults on any payment obligation, whether expressly reserved herein or deemed as rent, the Landlord reserves the right, without prior notice or legal proceedings, to enter the Rental Property.
25.2. The Landlord may seize, remove, and sell the Tenant's goods, chattels, and equipment from the Rental Property or from any other location to which they may have been moved. This action shall be executed in a manner consistent with the process of distress, regardless of any legal or equitable principles to the contrary. The Tenant expressly waives any current or future statute or law limiting or eliminating the Landlord's right.
26. SURRENDER OF THE RENTAL PROPERTY
26.1. At the expiration of this Lease and any other renewed term, the Tenant shall quit, surrender, and deliver possession of the Rental Property together with all appurtenances attached and or appropriated thereto in the same condition it was at the commencement of this Lease with reasonable wear and tear.
26.2. Any items left behind by the Tenant will be held for a short period after which the item will be disposed of. However, the Landlord shall not be responsible for these items. If the items are not claimed within six months, the Tenant shall be deemed to have forfeited the items.
27. HOLDOVER
27.1. If the Tenant fails to vacate the Rental Property at the end of the Lease term or continues to occupy the Rental Property in any way, a new month-to-month lease will automatically be established. This new lease will be governed by all the terms and conditions outlined in the original Lease. This month-to-month arrangement will remain in effect until both the Landlord and Tenant mutually agree in writing to extend or renew the Lease for a specific term.
27.2. If the Tenant transitions to a month-to-month Lease, they are required to provide the Landlord with a written notice of their intent to surrender the Rental Property at least 30 days in advance. The Landlord has the right to terminate this month-to-month lease at any time by providing the Tenant with written notice of termination or by utilizing other methods allowed by applicable law. The Tenant is obligated to vacate the Rental Property upon the Landlord's request.
28. INDEMNITY
The Landlord shall not be liable for any damage or any injury to the Tenant or any other persons in the Rental Property. The Tenant agrees to indemnify the Landlord against losses, claims, liabilities, and damages, including reasonable attorney's fees, if any for which the Landlord may suffer or incur in connection with the Tenant's possession, use or misuse of the Rental Property, except for the Landlord's negligence.
29. BREACH OF CONTRACT
29.1. It is hereby agreed that if the Tenant breaches any fundamental provision in this Agreement, this Agreement shall be determined and it shall be lawful for the Landlord to enter the Rental Property upon the issuance of reasonable notice to the Tenant to take full possession and to eject the Tenant and all other persons found in the Rental Property.
29.2. The Tenant shall also pay damages for loss and damage or costs incurred by the Landlord as a consequence of such breach by the Tenant and indemnify the Landlord from and against all actions, claims, liability, costs and expenses arising therefrom.
30. ABANDONMENT
If at any time during the term of the lease, the Tenant abandons the Rental Property or any part of the Rental Property before the date of termination, the Landlord shall have the right to possess and let the Rental Property. The Tenant will be liable to pay any outstanding rent and other payments which have become due and payable.
31. GOVERNING LAW
This Agreement shall be interpreted and construed in accordance with the laws of the Federal Republic of Nigeria.
32. MISCELLANEOUS
32.1. Variation: No variation of this Lease shall be binding upon the Landlord unless such variation and modification is made in writing and signed by the Landlord. No delay or omission to exercise any right under this Agreement shall be construed as a waiver.
32.2. Assignment: No Party shall assign any of its obligations or duties under this Agreement, without the prior written consent of the other Party.
32.3. Headings: Headings in this Agreement are used for convenience only and shall not be construed to limit or affect the terms of this Agreement.
32.4. Counterparts: This Agreement may be executed in counterparts, all of which constitute one Agreement.
32.5. Entire Agreement: This Agreement and any other agreement described as an addendum to this Agreement constitutes the entire agreement between the Parties and supersedes any prior contrary written or oral agreement.
32.6. Assignment: No Party shall assign any of its obligations or duties under this Agreement, without the prior written consent of the other Party.
32.7. Enurement: This Agreement will ensure the benefit of and be binding on the Parties and their respective heirs, executors, administrators and permitted successors and assigns.
32.8. Cumulative Rights: The rights of the Parties in this Agreement are cumulative and shall not be construed as exclusive except as otherwise stated by the law.
32.9. Waivers: Any term or provision of this Agreement may be waived in writing at any time by the Party entitled to such benefit. No delay, or omission to exercise any right shall not be construed as waiver.
32.10. Severability: If any part of this Agreement is held unenforceable, the remainder of this Agreement shall continue to be in force and have effect.
32.11. Further Assurance: The Parties shall execute and deliver all such documents and take all such actions and all steps to procure the performance of all such acts as may be necessary or incidental to give effect to the provisions of this Agreement
IN WITNESS WHEREOF the Parties hereto have executed this Agreement this day and year first written above
SIGNED by the within-named Landlord
_________________________
in the presence of:
Name................................................................................................................
Address.............................................................................................................
Occupation........................................................................................................
Signature..........................................................................................................
SIGNED by the within-named Tenant
__________________________
in the presence of:
Name................................................................................................................
Address.............................................................................................................
Occupation........................................................................................................
Signature..........................................................................................................
SHORT-TERM COMMERCIAL LEASE AGREEMENT
This Short-Term Commercial Lease Agreement is made on ________ between ________, of the following address:
________
hereinafter referred to as (the "Landlord" which expression shall where the context so admits include its successors-in-title and assigns) of the first part;
AND
________, of the following address:
________
hereinafter referred to as (the "Tenant" which expression shall where the context so admits include its successors-in-title and assigns) of the second part.
WHEREAS
A. The Landlord is the beneficial owner of the Rental Property.
B. Subject to the terms and conditions hereinafter contained, the Landlord hereby grants the possession of the Rental Property to the Tenant.
In consideration of the payment of the rent and the covenants contained herein, the receipt of which is hereby acknowledged, the Parties hereby agree as follows:
1. THE LEASE
1.1. Subject to the terms and conditions of this Agreement, the Landlord agrees to lease the following Rental Property to the Tenant (the "Rental Property"):
________
1.2. The Rental Property is furnished and is described as follows:
________
1.3. The Tenant agrees to comply with the terms and conditions of this Lease.
2. USE OF RENTAL PROPERTY
2.1. The Rental Property shall be used for commercial purposes only and no part of the Rental Property shall be used for any other purpose.
2.2. The Rental Property may be used for additional purposes only with the prior express consent of the Landlord.
2.3. The Tenant agrees to use the Rental Property solely for the Permitted Use, without variation. The Tenant will operate their business under the designated name of the Tenant business name and shall not alter this name without obtaining prior written consent from the Landlord, such consent not to be unreasonably withheld. It is understood that upon the Commencement Date, the Tenant shall promptly open the entire Rental Property for public business, fully equipped, stocked, and staffed.
2.4. Throughout the lease, the Tenant commits to maintaining continuous occupancy and utilization of the entire Rental Property for the active operation of its business in a reputable manner, adhering to the business hours as determined by the Landlord.
2.5. The Tenant undertakes to conduct its business on the Rental Property in compliance with all applicable federal, provincial, municipal, and other regulatory statutes, bylaws, rules, and regulations. The Tenant shall refrain from engaging in any actions on or within the Rental Property that contravene any of these regulations.
3. TERM OF LEASE
3.1. This Agreement shall commence on ________ (the "Commencement Date") and shall end on ________ (the "Expiration Date").
3.2. On the Expiration Date, the Tenant shall vacate the Rental Property unless the Landlord and Tenant mutually agree to a lease extension.
4. RENT
4.1. The Tenant shall pay the sum of ₦________ (________) every week. The rent shall be due on Mondays. The rent shall be considered advance payment for that week.
4.2. The Tenant shall pay the reserved rent in cash.
5. SECURITY DEPOSIT
5.1. Upon execution of this Agreement, the Tenant shall deposit with the Landlord the sum of ₦________ (________) as security for any damage which may be caused to the Rental Property during the said period of the Lease.
5.2. The Tenant shall pay the deposit in the method described in 4 above.
6. SERVICE CHARGE
6.1. The Tenant hereby agrees to pay a service charge of ₦________ (________) weekly.
6.2. The Service charge will cover the following:
________
7. CONDITION OF THE RENTAL PROPERTY
The Tenant agrees that the Rental Property is in good order, repair and condition and located in a clean and safe environment.
8. QUIET ENJOYMENT
The Landlord agrees that if the Tenant promptly pays the said rent and observes all the terms, conditions and covenants contained in this Agreement, the Tenant shall, during the term of the Lease, enjoy quiet and peaceful possession of the Rental Property.
9. COVENANTS OF THE TENANT
The Tenant covenants with the Landlord as follows:
(I) to pay the reserved rent in the aforesaid;
(II) to keep the Rental Property, the fixtures and fittings in good repair and condition at all times with reasonable wear and tear;
(III) to comply with all terms and conditions of this Agreement;
(IV) to respect the laws on the safety, sanitation, maintenance, and habitability of the dwelling;
(V) to keep the Rental Property in good sanitary condition always;
(VI) not to destroy, damage or remove any part of the fixtures, fittings or any part of the Rental Property;
(VII) to use all fixtures and fittings in a reasonable manner;
(VIII) to keep all fixtures and fittings in good and proper condition;
(IX) not to alter or replace any locks on the Rental Property; and
(X) not to use or permit the use of the Rental Property for any illegal or immoral purpose.
10. COVENANTS OF THE LANDLORD
The Landlord hereby covenants with the Tenant as follows:
(I) that upon the timely payment of the reserved rent and observing the covenants, the Tenant shall enjoy quiet and peaceful possession;
(II) that the Rental Property is in good and habitable condition;
(III) to keep the Rental Property insured against loss or damage by fire and such other risks as the Landlord may deem desirable and expedient and to pay all premium payments necessary promptly;
(IV) to pay and discharge all existing and future ground rent imposed or charged by any law in respect of the Rental Property during the term of the Lease;
(V) to deliver possession of the Rental Property in a good state of repair, habitable and clean condition at the expiration of the term of the Lease; and
(VI) to respect the laws pertaining to the safety, sanitation, maintenance and habitability of the dwelling.
11. TELEPHONE USE AND INTERNET
The Rental Property shall be equipped with a telephone and wifi, which is included in the rent fees. The Tenant acknowledges that while the internet services will be provided, the quality and stability of the internet connection may vary.
12. UTILITIES
The Landlord shall be responsible for the payment of electricity bills, water bills, environmental sanitation bills, and other utilities as agreed by the Parties.
13. INSURANCE
13.1. The Tenant acknowledges that the Landlord shall not insure the Tenant's personal Rental Property against damage or loss, and consequently, the Landlord bears no liability for such occurrences. Hence, the Tenant shall obtain the requisite insurance coverage.
13.2. The Tenant shall insure the Rental Property and its furniture and appurtenance within the Rental Property against damage or loss, solely for the benefit of the Landlord.
13.3. The Tenant shall procure insurance coverage for the Rental Property, encompassing structural, mechanical, and improvement aspects of the building on the Rental Property, which shall cover various risks including but not limited to fire, theft, vandalism, flood, and other disasters, serving the interests of both the Tenant and the Landlord.
13.4. The Tenant is responsible for obtaining liability insurance to cover any damages, loss, or injuries resulting from fire, flood, or any act of God suffered by the Tenant's clients, customers, properties, licensees, and other third parties.
14. RENEWAL OF THE LEASE
The Landlord may upon the request of the Tenant, extend the Lease for a further period as agreed by the Parties subject to a revised rent. The notice must be given in writing.
15. MAINTENANCE AND REPAIR
15.1. The Tenant shall at all times maintain and keep the Rental Property and appurtenances in good sanitary condition and repair with reasonable wear and tear during the term of this Agreement and any renewal thereof.
15.2. If at the end of the term of this Lease, it is discovered that any of the fixtures and fittings are missing or not kept in proper condition, the Tenant agrees to repair, replace, or pay for its replacement.
16. MAINTENANCE OF ORDER
The Tenant agrees as follows:
(I) not to make or permit the making of any loud or improper noises or otherwise cause nuisance to other residents in the area; and
(II) not at any time during the said term, create or permit to be done in the said Rental Property, any act which may constitute nuisance or annoyance to neighbours and occupiers of adjoining Rental Property.
17. ALTERATIONS AND IMPROVEMENT OF THE RENTAL PROPERTY
17.1. The Tenant shall not without obtaining the prior consent of the Landlord, do as follows:
(I) paint, or significantly alter the appearance of the Rental Property;
(II) place or permit the placement of any placard, notice, poster or any sign for advertising or other purpose inside and outside the Rental Property;
(III) install any plant, equipment, machinery or apparatus;
(IV) demolishing, rebuilding or restructuring any part of the Rental Property;
(V) construct, alter, change or make any improvements in the building.
17.2. If the Landlord approves any alteration, additions or improvements and the Tenant intends to use contractors to undertake such work, such contractors or persons must be approved by the Landlord.
18. 88 8555282585 88 558255
552 522522 252 222 85882582, 588822, 25 25528225 522 2552 22 252 822258 25222522 22 5225228 25 25855 2552828 8825252 252 2525288 8582222 8228222 22 252 85258255.
19. 5285582
________. 5222822 88 82588282 2525888225 828852 252 822258 25222522, 828855822 588 22882825 55258. 5588 5228828 22 588 22228 22 8222822 252258588, 828855822 852 222 8828225 22 8825522228, 882558, 28228, 525 2828252288 8825522228.
________. 8288225225 8222822 55258 252 82 25288525 2528852 252 822258 25222522. 552 522522, 25285 858222258, 8882228, 25 88882258 852 8885 22 82222 2582 582 25282 5288225225 55258 525 25222582 5882282 22 25285 8222822 252258588 82 5288225225 52822258828.
20. DANGEROUS MATERIALS
The Tenant agrees not to keep or permit the keeping of dangerous materials on or around the Rental Property.
21. DAMAGE TO RENTAL PROPERTY
If any part of the Rental Property is damaged or destroyed by fire, earthquake or any other natural cause, the Lease shall terminate at the date of the destruction.
22. ILLEGAL USE
The Tenant or their visitors shall not use the Rental Property for any illegal purpose, including but not limited to drug use, prostitution, or any other activities prohibited by the laws of the country. If found to be in breach of this clause, the Tenant may be forced to vacate the Rental Property and the Lease shall terminate immediately.
23. KEYS AND LOCKS
The Tenant shall not alter or replace any locks on the Rental Property without the written consent of the Landlord. The Tenant shall not add any locks on the Rental Property without the consent of the Lessor. If the Tenant installs additional locks (with the Landlord's consent), the locks shall stay on the Rental Property at the Expiration Date of this Lease.
24. TERMINATION
24.1. The Tenant may not terminate this Agreement prior to the date of the termination. If the Tenant vacates or abandons the Rental Property before the Expiration Date, the Tenant shall be liable for any unpaid rent or fees until the natural termination of this Lease.
24.2. The Lease may be terminated at any time by either the Landlord upon the issuance of the following notice to the other Party: ________.
24.3. At the expiration or termination of the Lease, the Tenant shall quit, surrender and deliver the Rental Property together with all appurtenances attached and or appropriated thereto in the same condition it was at the commencement of this Lease with reasonable wear and tear.
25. FORFEITURE FOR NON-PAYMENT
25.1. In the event that the Tenant defaults on any payment obligation, whether expressly reserved herein or deemed as rent, the Landlord reserves the right, without prior notice or legal proceedings, to enter the Rental Property.
25.2. The Landlord may seize, remove, and sell the Tenant's goods, chattels, and equipment from the Rental Property or from any other location to which they may have been moved. This action shall be executed in a manner consistent with the process of distress, regardless of any legal or equitable principles to the contrary. The Tenant expressly waives any current or future statute or law limiting or eliminating the Landlord's right.
26. SURRENDER OF THE RENTAL PROPERTY
26.1. At the expiration of this Lease and any other renewed term, the Tenant shall quit, surrender, and deliver possession of the Rental Property together with all appurtenances attached and or appropriated thereto in the same condition it was at the commencement of this Lease with reasonable wear and tear.
26.2. Any items left behind by the Tenant will be held for a short period after which the item will be disposed of. However, the Landlord shall not be responsible for these items. If the items are not claimed within six months, the Tenant shall be deemed to have forfeited the items.
27. HOLDOVER
27.1. If the Tenant fails to vacate the Rental Property at the end of the Lease term or continues to occupy the Rental Property in any way, a new month-to-month lease will automatically be established. This new lease will be governed by all the terms and conditions outlined in the original Lease. This month-to-month arrangement will remain in effect until both the Landlord and Tenant mutually agree in writing to extend or renew the Lease for a specific term.
27.2. If the Tenant transitions to a month-to-month Lease, they are required to provide the Landlord with a written notice of their intent to surrender the Rental Property at least 30 days in advance. The Landlord has the right to terminate this month-to-month lease at any time by providing the Tenant with written notice of termination or by utilizing other methods allowed by applicable law. The Tenant is obligated to vacate the Rental Property upon the Landlord's request.
28. INDEMNITY
The Landlord shall not be liable for any damage or any injury to the Tenant or any other persons in the Rental Property. The Tenant agrees to indemnify the Landlord against losses, claims, liabilities, and damages, including reasonable attorney's fees, if any for which the Landlord may suffer or incur in connection with the Tenant's possession, use or misuse of the Rental Property, except for the Landlord's negligence.
29. BREACH OF CONTRACT
29.1. It is hereby agreed that if the Tenant breaches any fundamental provision in this Agreement, this Agreement shall be determined and it shall be lawful for the Landlord to enter the Rental Property upon the issuance of reasonable notice to the Tenant to take full possession and to eject the Tenant and all other persons found in the Rental Property.
29.2. The Tenant shall also pay damages for loss and damage or costs incurred by the Landlord as a consequence of such breach by the Tenant and indemnify the Landlord from and against all actions, claims, liability, costs and expenses arising therefrom.
30. ABANDONMENT
If at any time during the term of the lease, the Tenant abandons the Rental Property or any part of the Rental Property before the date of termination, the Landlord shall have the right to possess and let the Rental Property. The Tenant will be liable to pay any outstanding rent and other payments which have become due and payable.
31. GOVERNING LAW
This Agreement shall be interpreted and construed in accordance with the laws of the Federal Republic of Nigeria.
32. MISCELLANEOUS
32.1. Variation: No variation of this Lease shall be binding upon the Landlord unless such variation and modification is made in writing and signed by the Landlord. No delay or omission to exercise any right under this Agreement shall be construed as a waiver.
32.2. Assignment: No Party shall assign any of its obligations or duties under this Agreement, without the prior written consent of the other Party.
32.3. Headings: Headings in this Agreement are used for convenience only and shall not be construed to limit or affect the terms of this Agreement.
32.4. Counterparts: This Agreement may be executed in counterparts, all of which constitute one Agreement.
32.5. Entire Agreement: This Agreement and any other agreement described as an addendum to this Agreement constitutes the entire agreement between the Parties and supersedes any prior contrary written or oral agreement.
32.6. Assignment: No Party shall assign any of its obligations or duties under this Agreement, without the prior written consent of the other Party.
32.7. Enurement: This Agreement will ensure the benefit of and be binding on the Parties and their respective heirs, executors, administrators and permitted successors and assigns.
32.8. Cumulative Rights: The rights of the Parties in this Agreement are cumulative and shall not be construed as exclusive except as otherwise stated by the law.
32.9. Waivers: Any term or provision of this Agreement may be waived in writing at any time by the Party entitled to such benefit. No delay, or omission to exercise any right shall not be construed as waiver.
32.10. Severability: If any part of this Agreement is held unenforceable, the remainder of this Agreement shall continue to be in force and have effect.
32.11. Further Assurance: The Parties shall execute and deliver all such documents and take all such actions and all steps to procure the performance of all such acts as may be necessary or incidental to give effect to the provisions of this Agreement
IN WITNESS WHEREOF the Parties hereto have executed this Agreement this day and year first written above
SIGNED by the within-named Landlord
_________________________
in the presence of:
Name................................................................................................................
Address.............................................................................................................
Occupation........................................................................................................
Signature..........................................................................................................
SIGNED by the within-named Tenant
__________________________
in the presence of:
Name................................................................................................................
Address.............................................................................................................
Occupation........................................................................................................
Signature..........................................................................................................
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