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Exclusive Lease
"I need an Exclusive Lease agreement for a commercial warehouse in Lagos, Nigeria, commencing March 1, 2025, with specific provisions for heavy machinery installation and 24/7 operational access."
1. Parties: Identification and details of the Landlord and Tenant, including registered addresses and registration numbers if corporate entities
2. Background: Context of the lease arrangement and brief description of the property
3. Definitions: Definitions of key terms used throughout the lease agreement
4. Demise: Formal grant of the lease, specifying the property being leased and the exclusive nature of possession
5. Term and Commencement: Duration of the lease and its start date
6. Rent and Payment Terms: Amount of rent, payment schedule, and method of payment
7. Security Deposit: Details of security deposit amount, terms of holding, and conditions for return
8. Tenant's Covenants: Obligations of the tenant including maintenance, permitted use, and compliance with laws
9. Landlord's Covenants: Obligations of the landlord including quiet enjoyment and structural repairs
10. Insurance: Requirements for property insurance and contents insurance
11. Utilities and Services: Responsibility for utilities, services, and associated charges
12. Termination: Circumstances and procedures for lease termination
13. Yielding Up: Conditions for returning the property at lease end
14. Notices: Process for serving formal notices between parties
15. Governing Law: Specification of Nigerian law as governing law and relevant jurisdiction
1. Break Clause: Optional provision allowing early termination under specific conditions - include for longer term leases
2. Rent Review: Mechanism for periodic rent adjustments - include for leases longer than 3 years
3. Subletting and Assignment: Terms for transferring or sharing the lease - include for commercial properties
4. Alterations and Improvements: Rules for making changes to the property - include for commercial leases or where significant modifications are anticipated
5. Environmental Matters: Environmental obligations and restrictions - include for industrial or commercial properties
6. Force Majeure: Provisions for unforeseen circumstances - include for longer term or high-value leases
7. Service Charge: Details of service charges for common areas - include for multi-unit properties
8. Planning Requirements: Compliance with planning laws - include for commercial properties or properties in regulated zones
1. Property Description: Detailed description of the property including boundaries, floor plans, and photographs
2. Inventory: List of fixtures, fittings, and furniture included in the lease
3. Condition Report: Detailed report of the property's condition at the start of the lease
4. Permitted Use: Detailed specifications of allowed activities and use of the property
5. Rent Payment Schedule: Detailed breakdown of rent payments and due dates
6. Service Charge Schedule: Breakdown of service charges and calculation method
7. Maintenance Schedule: Detailed allocation of maintenance responsibilities between parties
8. Building Rules: Specific rules and regulations for the use of the property or building
Authors
Real Estate
Commercial Property
Retail
Industrial
Healthcare
Education
Hospitality
Office Space
Warehousing
Manufacturing
Agriculture
Technology
Professional Services
Legal
Real Estate
Operations
Finance
Facilities Management
Compliance
Risk Management
Corporate Affairs
Property Management
Asset Management
Real Estate Manager
Property Manager
Facilities Manager
Legal Counsel
Corporate Lawyer
Operations Director
Chief Financial Officer
Business Development Manager
Asset Manager
Compliance Officer
Real Estate Agent
Property Developer
Estate Surveyor
Company Secretary
Commercial Director
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