Commercial Lease Amendment Agreement - Template Form Pro · NG-law

DEED OF AMENDMENT TO COMMERCIAL LEASE AGREEMENT

THIS DEED OF AMENDMENT TO COMMERCIAL LEASE AGREEMENT (the "Deed" or this "Amendment") is made this ________

BETWEEN

________, of the following address:

________

(hereinafter referred to as the "Landlord", which expression shall, where the context so admits, include its heirs, personal representatives, 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 heirs, personal representatives, successors-in-title and assigns) of the second part.

The Landlord and the Tenant are hereinafter individually referred to as a "Party" and collectively as the "Parties".

RECITALS

A. The Landlord and the Tenant entered into a Commercial Lease Agreement (the "Lease") on ________, registered (where applicable) at the relevant Lands Registry under instrument number ________.

B. By virtue of the Lease, the Tenant was granted exclusive possession of the following property (the "Demised Premises"), together with all appurtenances attached thereto:

________

C. The Demised Premises is held by the Landlord under a certificate of occupancy / title document numbered ________.

D. The Parties have mutually agreed to amend and vary certain terms of the Lease in the manner set out in this Deed, in accordance with the terms of the Lease and applicable law.

NOW THIS DEED WITNESSES that in consideration of the mutual covenants and obligations herein contained, the receipt and sufficiency of which is hereby acknowledged, the Parties hereby covenant and agree as follows:

§ 1. DEFINITIONS AND INTERPRETATION

(1) Words and expressions defined in the Lease shall, unless the context otherwise requires, bear the same meanings when used in this Deed.

(2) The recitals above form an integral part of this Deed.

(3) References to any statute or statutory provision include references to such statute or provision as amended, re-enacted or replaced from time to time.

(4) Headings are for convenience only and shall not affect the interpretation of this Deed.

§ 2. DEMISED PREMISES

The Demised Premises to which the Lease and this Amendment relate is the following property, together with all appurtenances attached thereto:

________

§ 3. AMENDMENTS TO THE LEASE

With effect from ________ (the "Effective Date"), the Parties hereby agree to amend and vary the Lease as follows:

(1) Addition: The Lease is hereby amended to include the following provision, which shall read as follows:

________

(2) Deletion: The Lease is hereby amended by deleting the following provision in its entirety:

________

(3) Substitution: The following provision shall be removed:

________

and shall be replaced with the following provision:

________

(4) Revised Rent: The reserved rent payable under the Lease shall, with effect from the Effective Date, be the sum of ________, payable in the manner and at the intervals set out in the Lease as amended hereby.

(5) Revised Term: The term of the Lease shall (where applicable) be amended to ________.

§ 4. COVENANTS OF THE TENANT

The Tenant covenants with the Landlord as follows:

(I) to pay the reserved rent (as amended herein) at the times and in the manner aforesaid;

(II) to pay all taxes, rates, assessments, tenement rates and outgoings now or hereinafter lawfully imposed in respect of the Tenant's use and occupation of the Demised Premises;

(III) to keep the Demised Premises in good and tenantable repair and condition at all times, fair wear and tear excepted;

(IV) to comply with all the terms, conditions and covenants of the Lease and this Amendment;

(V) to observe all applicable laws relating to the safety, sanitation, maintenance and lawful use of the Demised Premises;

(VI) to keep the Demised Premises in a clean and sanitary condition at all times;

(VII) not to destroy, damage or remove any part of the fixtures, fittings or any part of the Demised Premises;

(VIII) not to use or permit the Demised Premises to be used for any illegal, immoral or unlawful purpose; and

(IX) not to assign, sublet or part with possession of the Demised Premises or any part thereof without the prior written consent of the Landlord.

§ 5. COVENANTS OF THE LANDLORD

The Landlord hereby covenants with the Tenant as follows:

(I) that upon the timely payment of the reserved rent and the observance of the covenants herein, the Tenant shall peaceably and quietly hold and enjoy the Demised Premises without interruption by the Landlord or any person lawfully claiming through or under it;

(II) that the Demised Premises is in good and habitable condition fit for the permitted use;

(III) to pay and discharge all existing and future ground rent and other charges lawfully imposed in respect of the Landlord's reversionary interest in the Demised Premises during the term;

(IV) to accept possession of the Demised Premises in a good state of repair, habitable and clean condition at the expiration or sooner determination of the term; and

(V) to observe all applicable laws pertaining to the safety, sanitation, maintenance and habitability of the Demised Premises.

§ 6. QUIET ENJOYMENT

The Landlord agrees that, provided the Tenant duly pays the reserved rent and observes and performs all the terms, conditions and covenants contained in the Lease and this Amendment, the Tenant shall, during the term of the tenancy, peaceably hold and enjoy quiet and peaceful possession of the Demised Premises.

§ 7. GOVERNING LAW AND JURISDICTION

This Deed shall be governed by and construed in accordance with the laws of the Federal Republic of Nigeria, including the applicable tenancy and property laws of ________, and the Parties hereby submit to the jurisdiction of the courts of competent jurisdiction in Nigeria.

§ 8. MISCELLANEOUS

(I) DISPUTE RESOLUTION: In the event of any dispute, difference or disagreement arising between the Parties in connection with or arising out of this Deed, the Parties shall first endeavour to resolve the same amicably through mutual negotiation. Where such dispute cannot be resolved amicably within ________ days, the dispute shall be referred to and finally resolved by arbitration in accordance with the provisions of the Arbitration and Mediation Act, 2023. The arbitration shall be conducted by a sole arbitrator appointed by mutual agreement of the Parties, and failing such agreement, appointed in accordance with the said Act. The seat of arbitration shall be ________ and the proceedings shall be conducted in the English language. The award of the arbitrator shall be final and binding on the Parties.

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(III) RATIFICATION: Save as expressly modified under this Deed, all other obligations, rights, terms, conditions and covenants contained in the Lease shall remain in full force and effect, and the Lease as so amended shall be read and construed as one document with this Deed.

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(V) NOTICES: All notices under this Deed shall be in writing and shall be delivered personally, sent by registered or certified post, or by electronic mail, to the Party at the address set out above or to such other address as a Party may notify to the other in writing.

(VI) VARIATION: No variation, amendment or termination of this Deed shall be effective unless made in writing and signed by or on behalf of each of the Parties.

(VII) SEVERABILITY: If any provision of this Deed is held to be invalid, illegal or unenforceable for any reason, such provision shall be severed and the remaining provisions shall continue in full force and effect.

(VIII) STAMP DUTY AND REGISTRATION: This Deed shall be stamped in accordance with the Stamp Duties Act and, where required, registered at the appropriate Lands Registry. The cost of stamping and registration shall be borne by ________.

(IX) COUNTERPARTS: This Deed may be executed in any number of counterparts, each of which when executed shall constitute an original, and all of which together shall constitute one and the same instrument.

IN WITNESS WHEREOF the Parties hereto have executed this Deed in the manner hereinafter appearing the day and year first above written.

SIGNED, SEALED AND DELIVERED by the within-named Landlord

________

___________________________
Signature of Landlord

in the presence of:

Name: ________

Address: ________

Occupation: ________

Signature: ___________________________

SIGNED, SEALED AND DELIVERED by the within-named Tenant

________

___________________________
Signature of Tenant

in the presence of:

Name: ________

Address: ________

Occupation: ________

Signature: ___________________________

FRANKING: Prepared by:

________
________
________