Short-Term Commercial Rental Agreement - Template Form Pro · NG-law

SHORT-TERM COMMERCIAL LEASE AGREEMENT

THIS SHORT-TERM COMMERCIAL LEASE AGREEMENT (the "Agreement") is made this ________ BETWEEN ________, of the following address:

________

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

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

RECITALS

A. The Landlord is the beneficial owner of, and is entitled to grant a leasehold interest in, the Rental Property hereinafter described, free from encumbrances which would prevent the grant of this Lease.

B. Subject to the terms, covenants and conditions hereinafter contained, the Landlord has agreed to demise and grant possession of the Rental Property to the Tenant, and the Tenant has agreed to take the same.

NOW THEREFORE, in consideration of the rent reserved herein and of the mutual covenants and agreements hereinafter contained, the receipt and sufficiency of which are hereby acknowledged, the Parties hereby agree as follows:

1. THE LEASE

1.1. Subject to the terms and conditions of this Agreement, the Landlord hereby demises and grants unto the Tenant the following property (the "Rental Property"):

________

1.2. The Rental Property is furnished and is more particularly described as follows:

________

1.3. The Tenant agrees to observe, perform and comply with all the terms, covenants and conditions of this Lease.

1.4. This Lease creates a tenancy for a fixed term as set out in §3 and does not confer any tenure or statutory right of renewal beyond that expressly agreed by the Parties in writing.

2. USE OF THE RENTAL PROPERTY

2.1. The Rental Property shall be used for the lawful commercial purpose of ________ (the "Permitted Use") only, and no part of the Rental Property shall be used for any other purpose.

2.2. The Rental Property may be used for any additional purpose only with the prior express written consent of the Landlord, such consent not to be unreasonably withheld.

2.3. The Tenant shall operate its business under the name ________ and shall not alter this name without obtaining prior written consent of the Landlord, such consent not to be unreasonably withheld. Upon the Commencement Date, the Tenant shall promptly open the Rental Property for business, duly equipped, stocked and staffed.

2.4. Throughout the term, the Tenant shall maintain continuous occupancy and utilisation of the Rental Property for the active operation of its business in a reputable manner, in accordance with the lawful business hours applicable to the Rental Property.

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3. TERM OF LEASE

3.1. This Agreement shall commence on ________ (the "Commencement Date") and shall expire on ________ (the "Expiration Date"), unless sooner determined in accordance with the provisions of this Agreement.

3.2. On the Expiration Date, the Tenant shall peaceably vacate and deliver up the Rental Property unless the Parties shall have mutually agreed in writing to an extension or renewal of the term.

4. RENT

4.1. The Tenant shall pay to the Landlord the sum of \u20a6________ (________) per week (the "Rent"), payable in advance. The Rent shall fall due on ________ of each week and shall constitute advance payment for that week.

4.2. The Rent and all other sums payable under this Agreement shall be paid by bank transfer or such other method as the Parties may agree in writing into the account designated by the Landlord, namely: ________.

4.3. The Tenant shall be entitled to a written receipt for every payment of Rent and other sums made under this Agreement, in accordance with applicable law.

5. SECURITY DEPOSIT

5.1. Upon execution of this Agreement, the Tenant shall deposit with the Landlord the sum of \u20a6________ (________) as security for the due performance of the Tenant's obligations and against any damage which may be caused to the Rental Property during the term of this Lease (the "Security Deposit").

5.2. The Security Deposit shall be paid in the manner described in §4.2 above.

5.3. The Security Deposit, or such balance thereof as may remain after the deduction of any sums lawfully owing to the Landlord under this Agreement, shall be refunded to the Tenant without interest within ________ days of the Tenant delivering up vacant possession of the Rental Property at the expiration or sooner determination of this Lease.

6. SERVICE CHARGE

6.1. The Tenant hereby agrees to pay a service charge of \u20a6________ (________) weekly, payable in the manner described in §4.2 above.

6.2. The service charge shall cover the following:

________

7. CONDITION OF THE RENTAL PROPERTY

The Tenant acknowledges and agrees that the Rental Property is, at the Commencement Date, in good order, repair and condition, and located in a clean and safe environment, having inspected the same prior to the execution of this Agreement.

8. QUIET ENJOYMENT

The Landlord covenants that the Tenant, paying the Rent reserved and duly observing and performing the covenants, terms and conditions on its part herein contained, shall during the term peaceably and quietly hold and enjoy the Rental Property without any lawful interruption or disturbance from or by the Landlord or any person rightfully claiming through, under or in trust for the Landlord.

9. COVENANTS OF THE TENANT

The Tenant hereby covenants with the Landlord as follows:

(I) to pay the Rent reserved at the times and in the manner aforesaid;

(II) to keep the Rental Property, the fixtures and fittings in good and tenantable repair and condition at all times, fair wear and tear excepted;

(III) to observe, perform and comply with all the terms, covenants and conditions of this Agreement;

(IV) to comply with all laws and regulations relating to the safety, sanitation, maintenance and habitability of the Rental Property;

(V) to keep the Rental Property in a good and clean sanitary condition at all times;

(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 and proper 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 without the prior written consent of the Landlord;

(X) not to use or permit the use of the Rental Property for any illegal or immoral purpose; and

(XI) to permit the Landlord and its agents to enter and inspect the Rental Property in accordance with §19 below.

10. COVENANTS OF THE LANDLORD

The Landlord hereby covenants with the Tenant as follows:

(I) that upon the timely payment of the Rent reserved and observance of the covenants herein, the Tenant shall enjoy quiet and peaceful possession of the Rental Property;

(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 to pay all premiums promptly;

(IV) to pay and discharge all existing and future ground rent, tenement rates and other outgoings imposed by any law in respect of the Rental Property during the term of this Lease, save as otherwise provided herein;

(V) to permit the Tenant to deliver up possession of the Rental Property in a good and habitable state at the expiration of the term; and

(VI) to comply with all laws relating to the safety, sanitation, maintenance and habitability of the Rental Property.

11. TELEPHONE AND INTERNET

The Rental Property shall be equipped with telephone and wireless internet (Wi-Fi) facilities, which are included in the Rent. The Tenant acknowledges that, while such internet service is provided, the quality, speed and stability of the connection may vary and the Landlord gives no warranty in respect thereof.

12. UTILITIES

The responsibility for the payment of electricity bills, water rates, environmental sanitation charges and other utility charges shall be borne as follows: ________.

13. INSURANCE

13.1. The Tenant acknowledges that the Landlord shall not insure the Tenant's personal property against damage or loss, and the Landlord shall bear no liability for any such occurrence. Accordingly, the Tenant shall obtain the requisite insurance coverage in respect of its own property.

13.2. The Tenant shall obtain liability insurance to cover any damage, loss or injury suffered by the Tenant's clients, customers, licensees, invitees and other third parties arising from the Tenant's use or occupation of the Rental Property.

13.3. All insurance required under this clause shall be maintained with reputable insurers duly registered under the Insurance Act, and the Tenant shall, upon request, produce to the Landlord evidence of such cover and of the payment of premiums.

14. RENEWAL OF THE LEASE

The Landlord may, upon the written request of the Tenant given not less than ________ days before the Expiration Date, extend or renew this Lease for such further period and upon such revised rent and terms as may be agreed in writing by the Parties.

15. MAINTENANCE AND REPAIR

15.1. The Tenant shall at all times maintain the Rental Property and its appurtenances in good sanitary condition and repair, fair wear and tear excepted, during the term of this Agreement and any renewal thereof.

15.2. If, at the end of the term, any of the fixtures and fittings are missing or not kept in proper condition, the Tenant shall repair, replace or pay the reasonable cost of replacement thereof.

16. MAINTENANCE OF ORDER

The Tenant agrees:

(I) not to make or permit the making of any loud or improper noise or otherwise cause nuisance to other occupiers in the area; and

(II) not at any time during the term to do or permit to be done on the Rental Property any act which may constitute a nuisance or annoyance to neighbours and occupiers of adjoining premises.

17. ALTERATIONS AND IMPROVEMENTS

17.1. The Tenant shall not, without the prior written consent of the Landlord:

(I) paint or significantly alter the appearance of the Rental Property;

(II) erect or permit the erection of any placard, notice, poster or sign for advertising or other purposes within or outside the Rental Property;

(III) install any plant, equipment, machinery or apparatus;

(IV) demolish, rebuild or restructure any part of the Rental Property; or

(V) construct, alter or make any improvement to the building.

17.2. Where the Landlord approves any alteration, addition or improvement to be carried out by contractors, such contractors must be approved by the Landlord, such approval not to be unreasonably withheld.

18. ASSIGNMENT AND SUBLETTING

The Tenant shall not assign, sublet, charge or otherwise part with possession of the Rental Property or any part thereof without the prior written consent of the Landlord, such consent not to be unreasonably withheld. Any purported assignment or subletting in breach of this clause shall be void and shall constitute a fundamental breach of this Agreement.

19. RIGHT OF ENTRY AND INSPECTION

19.1. The Landlord or its duly authorised agents shall have the right, upon giving reasonable prior notice to the Tenant, to enter and inspect the Rental Property at all reasonable times to ascertain its state and condition and to carry out any necessary repairs or maintenance.

19.2. In the case of an emergency, the Landlord may enter the Rental Property without prior notice in order to prevent or mitigate any damage, injury or loss to the Rental Property or to any person.

20. DANGEROUS MATERIALS

The Tenant shall not keep or permit the keeping of any dangerous, hazardous, inflammable or explosive materials on or about the Rental Property except such as are reasonably required for the Permitted Use and stored in compliance with applicable law.

21. DAMAGE TO THE RENTAL PROPERTY

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22. ILLEGAL USE

The Tenant and its visitors shall not use the Rental Property for any illegal purpose. Where the Tenant is found to be in breach of this clause, the Landlord may, upon notice and in accordance with applicable law, determine this Lease, and the Tenant shall deliver up possession of the Rental Property.

23. KEYS AND LOCKS

The Tenant shall not alter, replace or add any locks on the Rental Property without the prior written consent of the Landlord. Where the Tenant installs additional locks with such consent, the same shall remain on the Rental Property at the expiration of this Lease, and a duplicate key shall be delivered to the Landlord.

24. TERMINATION

24.1. If the Tenant vacates or abandons the Rental Property before the Expiration Date, the Tenant shall remain liable for any unpaid Rent and other charges accruing until the natural expiration of this Lease, subject to the Landlord's duty to take reasonable steps to mitigate its loss.

24.2. This Lease may be determined by either Party giving to the other Party prior written notice as follows: ________.

24.3. At the expiration or sooner determination of this Lease, the Tenant shall quit, surrender and deliver up the Rental Property, together with all appurtenances attached or appropriated thereto, in the same condition as at the commencement of this Lease, fair wear and tear excepted.

25. RECOVERY OF POSSESSION AND DEFAULT

25.1. In the event that the Tenant defaults in the payment of any Rent or other sum payable under this Agreement, or commits a breach of any covenant herein, the Landlord shall be entitled to recover possession of the Rental Property in accordance with the provisions of the applicable Recovery of Premises law or Tenancy law of the State in which the Rental Property is situate, including the service of the appropriate statutory notices.

25.2. Notwithstanding any provision herein, the Landlord shall not exercise any right of re-entry, distress or recovery of possession otherwise than by due process of law, and the Tenant shall not be evicted save in accordance with a valid order of a court of competent jurisdiction.

26. SURRENDER OF THE RENTAL PROPERTY

26.1. At the expiration or sooner determination of this Lease and any renewal thereof, the Tenant shall quit, surrender and deliver up possession of the Rental Property together with all appurtenances attached or appropriated thereto in the same condition as at the commencement of this Lease, fair wear and tear excepted.

26.2. Any items left behind by the Tenant shall be held for a reasonable period, after which the Landlord may dispose of the same. The Landlord shall not be responsible for such items. If the items are not claimed within ________ months, the Tenant shall be deemed to have abandoned and forfeited the items.

27. HOLDOVER

27.1. If the Tenant remains in occupation of the Rental Property after the Expiration Date with the consent of the Landlord, a tenancy from month to month shall arise, governed (so far as applicable) by the terms and conditions of this Lease, until the Parties agree in writing to extend or renew the Lease for a fixed term.

27.2. Either Party may determine such monthly tenancy by giving to the other not less than thirty (30) days' written notice, or such other period of notice as may be prescribed by the applicable Tenancy law of the relevant State, whichever is longer.

28. INDEMNITY

Save where caused by the negligence or wilful default of the Landlord, its servants or agents, the Tenant agrees to indemnify and keep indemnified the Landlord against all losses, claims, liabilities, damages, costs and reasonable legal fees which the Landlord may suffer or incur in connection with the Tenant's possession, use or misuse of the Rental Property.

29. BREACH OF CONTRACT

29.1. Where the Tenant breaches any fundamental provision of this Agreement, the Landlord may, upon service of the requisite statutory notice and through due process of law, recover possession of the Rental Property and eject the Tenant and all persons claiming through the Tenant.

29.2. The Tenant shall pay to the Landlord all loss, damage and reasonable costs incurred by the Landlord as a consequence of such breach and shall indemnify the Landlord against all actions, claims, liabilities, costs and expenses arising therefrom.

30. ABANDONMENT

If at any time during the term the Tenant abandons the Rental Property or any part thereof, the Landlord shall, in accordance with applicable law, have the right to re-enter, take possession of and re-let the Rental Property, and the Tenant shall remain liable for any Rent and other sums then due and payable.

31. DISPUTE RESOLUTION

31.1. The Parties shall use their best endeavours to resolve any dispute arising out of or in connection with this Agreement amicably by negotiation.

31.2. Where any dispute is not resolved by negotiation within thirty (30) days, the Parties agree to refer the dispute to mediation, and failing settlement, to the courts of competent jurisdiction in ________, which shall have jurisdiction to determine the same.

32. GOVERNING LAW

This Agreement shall be governed by, and construed and interpreted in accordance with, the laws of the Federal Republic of Nigeria and the applicable laws of ________.

33. NOTICES

Any notice required to be given under this Agreement shall be in writing and shall be deemed duly served if delivered personally, sent by registered post, or sent by electronic mail to the address of the Party set out in this Agreement or to such other address as that Party may from time to time notify in writing.

34. MISCELLANEOUS

34.1. Variation: No variation of this Lease shall be binding unless made in writing and signed by both Parties.

34.2. Headings: Headings in this Agreement are for convenience only and shall not affect its construction.

34.3. Counterparts: This Agreement may be executed in counterparts, each of which shall be deemed an original and all of which together shall constitute one and the same instrument.

34.4. Entire Agreement: This Agreement, together with any addendum hereto, constitutes the entire agreement between the Parties and supersedes any prior written or oral agreement.

34.5. Enurement: This Agreement shall enure to the benefit of and be binding upon the Parties and their respective heirs, executors, administrators, successors and permitted assigns.

34.6. Cumulative Rights: The rights of the Parties under this Agreement are cumulative and shall not be construed as exclusive save as otherwise provided by law.

34.7. Waiver: Any provision of this Agreement may be waived in writing by the Party entitled to the benefit thereof. No delay or omission to exercise any right shall be construed as a waiver.

34.8. Severability: If any provision of this Agreement is held to be unenforceable, the remaining provisions shall continue in full force and effect.

34.9. Stamp Duty: The Tenant shall be responsible for the stamping of this Agreement in accordance with the Stamp Duties Act and for its registration where applicable.

34.10. Further Assurance: The Parties shall execute and deliver all such documents and do all such acts as may be necessary or incidental to give full effect to this Agreement.

IN WITNESS WHEREOF the Parties hereto have executed this Agreement the day and year first above written.

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: _________________________