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5 Year Lease Agreement
"I need a 5 Year Lease Agreement for a commercial warehouse property in Lagos Industrial Estate, with specific provisions for heavy machinery usage and 24/7 operation, starting from March 1, 2025."
1. Parties: Identification of landlord and tenant with full legal names and addresses
2. Background: Context of the lease agreement and brief description of the property
3. Definitions: Definitions of key terms used throughout the lease agreement
4. Demise: Formal grant of the lease and specification of the term (5 years)
5. Rent and Payment Terms: Rent amount, payment schedule, and payment methods
6. Security Deposit: Amount, terms and conditions for security deposit
7. Tenant's Covenants: Tenant's obligations including maintenance, use restrictions, and compliance with laws
8. Landlord's Covenants: Landlord's obligations including repairs, insurance, and quiet enjoyment
9. Insurance: Insurance requirements for both parties
10. Utilities and Services: Responsibility for utilities, services, and associated costs
11. Assignment and Subletting: Terms regarding transfer of lease rights
12. Termination: Conditions and procedures for early termination
13. Default and Remedies: Consequences of breach and available remedies
14. Governing Law: Specification of Nigerian law as governing law
15. Dispute Resolution: Procedures for resolving disputes
16. Notices: Method and addresses for formal communications
17. Entire Agreement: Integration clause and relationship to prior agreements
1. Environmental Compliance: Required if property is in an environmentally sensitive area or subject to specific environmental regulations
2. Planning Permissions: Required if property requires specific zoning or use permissions
3. Alterations and Improvements: Include if tenant is permitted to make modifications to the property
4. Option to Renew: Include if offering tenant right to extend lease term
5. Break Clause: Include if either party can terminate early under specific conditions
6. Service Charge: Required for properties in multi-tenant buildings or complexes
7. Ground Rent: Required if property is leasehold rather than freehold
8. Force Majeure: Include if parties want specific provisions for unforeseen circumstances
1. Schedule 1 - Property Description: Detailed description of the leased premises including boundaries and floor plans
2. Schedule 2 - Inventory: List of fixtures, fittings, and furniture included in the lease
3. Schedule 3 - Rent Review Provisions: Details of rent review mechanism and timing
4. Schedule 4 - Service Charges: Breakdown of service charges and calculation method
5. Schedule 5 - Permitted Use: Detailed description of allowed uses of the property
6. Schedule 6 - Repair and Maintenance Obligations: Detailed breakdown of repair responsibilities
7. Appendix A - Property Photos: Photographic evidence of property condition at lease start
8. Appendix B - Required Certificates: Copies of relevant safety and compliance certificates
Authors
Tenant
Premises
Common Areas
Commencement Date
Term
Expiry Date
Rent
Security Deposit
Service Charge
Permitted Use
Working Day
Force Majeure
Interest Rate
Planning Laws
Land Use Act
Utilities
Maintenance
Structural Repairs
Non-structural Repairs
Insurance Risks
Assignment
Subletting
Environmental Laws
Planning Permission
Property Manager
Guarantor
Initial Rent
Rent Review Date
Schedule of Condition
Default Notice
Building Rules
Local Authority
Lease Period
Payment Date
Registration Requirements
State Authority
Quiet Enjoyment
Alterations
Ground Rent
Rent Payment
Security Deposit
Use of Premises
Assignment and Subletting
Maintenance and Repairs
Alterations
Insurance
Utilities and Services
Quiet Enjoyment
Environmental Compliance
Health and Safety
Property Access
Force Majeure
Default and Remedies
Early Termination
Dispute Resolution
Notices
Registration
Planning Permission
Rent Review
Service Charges
Yielding Up
Indemnification
Statutory Compliance
Property Management
Common Areas
Signs and Advertising
Security Arrangements
Land Use Compliance
Real Estate
Retail
Office Space
Industrial
Manufacturing
Healthcare
Education
Hospitality
Technology
Financial Services
Professional Services
Logistics
Warehouse
Agriculture
Legal
Real Estate
Facilities Management
Operations
Finance
Procurement
Risk & Compliance
Corporate Services
Administration
Property Manager
Facilities Manager
Real Estate Director
Legal Counsel
Operations Manager
Chief Financial Officer
Business Development Manager
Office Manager
Compliance Officer
Risk Manager
Corporate Services Manager
Asset Manager
Procurement Manager
General Counsel
Company Secretary
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