TENANCY AGREEMENT

BETWEEN

Mr. DOTUN OLUSOLA

AND
Mr. BANKOLE DOTUN OLUFEMI

THIS TENANCY AGREEMENT is made this 1st Day of March 2013 and entered
into by and
BETWEEN,
Mr. Dotun Olusola of No. 25 Olaniyi Street, New Oko Oba, Lagos,
hereinafter called the Landlord which expression shall where the context so
admits shall include his assigns and successors-in-title) of the one part.
AND
Mr. Bankole Dotun Olufemi, of Lagos, No. 25 Olaniyi Street, New Oko
Oba, Lagos,

hereinafter called the Tenant which expression where the

context so admits shall include its assigns and successors-in-title) of the other
part.
The Landlord and the Tenant hereinafter individually referred to as the Party
and collectively as the Parties.
WHEREAS:
1

The Landlord is the owner of all that 2 (Two) bedrooms flat

lying and situate at No. 25 Olaniyi Street, New Oko
Oba, Lagos hereinafter referred to as the Demised
premises)

The Tenant is desirous of being put into possession of 2

(Two) bedrooms flat in the Demised premises and has
accordingly approached the Landlord for the grant of it.

The Landlord has agreed to put the Tenant in possession

of the Demised premises in accordance with the terms,
conditions and stipulations hereinafter set forth.

NOW THIS DEED WITNESSETH as follows: IN CONSIDERATION of the rent herein reserved and the performance of other
covenants and obligations herein contained the Landlord hereby demises unto
the Tenant All that 2 (Two) bedrooms flat with the fittings therein and all the
appurtenances pertaining to the said property situate and lying at No. 25
Olaniyi Street, New Oko Oba, Lagos

(hereinafter called the Demised

premises) to HOLD same unto the Tenant for a term of One and half years
certain commencing from 1st day of March, 2013 to 31st August, 2014 with
an option to renew for further terms upon mutually acceptable terms..
1

RENTAL AMOUNT, SERVICE CHARGES, TERMS OF PAYMENT

The

Tenant

shall

pay

the

Landlord

the

rental

amount

of

N250,000.00 (Three Hundred and Fifty Thousand Naira) net

per annum (exclusive of other deductions), with the rent for the
whole term payable now in advance.The rental amount shall be
paid. The Landlord hereby acknowledges the receipt of the rent for
Two years.
2

LANDLORDS RESPONSIBILITIES AND OBLIGATIONS

2.1

The

Landlord

undertakes

to

deliver

to

the

Tenant

on

commencement date of this tenancy agreement, the demised

premises in a clean, neat, tidy and good condition.
2.2

The Landlord warrants that the Tenant shall have quiet possession,
enjoyment and habitation of the Demised premises.

2.3

The Landlord undertakes to maintain the demised premises during

the

subsistence

of

this

Tenancy

Agreement

free

of

any

encumbrance and in compliance with all local or municipal or

residential

by-laws,

ordinances,

permits

and

regulations

as

necessary and applicable and the Landlord indemnifies the Tenant

from any obligation or actions whatsoever that may be instituted or
brought against the Tenant

in relation thereto, by third parties

including but not limited to the appropriate authorities who may

claim preferential rights or joint rights and/or accommodation rights
and/or any proprietary rights whatsoever on the said ground and
demised premises, and therefore the Landlord hereby releases and
discharges the Tenant from such claims and/or encumbrances.
2.4

The Landlord hereby accepts full and sole responsibility for the
payment of all local rates and taxes for charges of the demised
premises, or items incidental thereto in relation to its ownership of
the demised premises, whether now existing of hereafter to be
assessed, including but not limited to the Property Tax which may
be assessed on the Demised premises during the Tenancy Period.

2.5

With the exception of damage that is caused by the Tenants

negligence or by the Tenants employees, invitees or guests, the
Landlord shall maintain, repair, renew, repaint, and keep the
demised premises in good and tenantable condition and is
responsible for and shall bear any expenses incurred upon the
demised premises for structural and extra ordinary repairs.

2.6

The Landlord hereby covenants with the Tenant to keep the

demised premises wind and water tight to maintain and keep in
good repair and working order all facilities made available including
sanitary, plumbing, drainage, sewers, channels, water courses,
gutter, rainwater and soil pipes in, under or upon any buildings
within the demised premises.

TENANTS RESPONSIBILITIES AND OBLIGATIONS

1

The Tenant hereby accepts full and sole responsibility for the
payment of all local rates, taxes, and charges whether now existing
of hereafter to be assessed on the occupier of the demised
premises during the Tenancy Period.

The Tenant shall be responsible for contracting directly with the

Caretaker for relevant utility services providers such as water,
Security,

cleaning of premises and electricity and shall be

responsible for the accounts of such utility services consumed in or

about the demised

premises until termination of this Tenancy

Agreement. All consequences caused by delaying or negligence of

payments of aforementioned expenses shall be the responsibility of
the Tenant.
3

The Tenant undertakes to maintain the demised premises in a good

condition and to return the demised premises in the same condition
upon Termination Date in the same condition as the Tenant received
from

the

Agreement,

Landlord

at commencement date

of

the

Tenancy

The Tenancy shall notify the Landlord upon discovery of any

damages, defects or dangerous conditions in and about the
demised premises.

The Tenant shall reimburse the Landlord for the cost of repairs to
the demised premises of damages caused by misuse or negligence
of the Tenant including its employees, its guests or invitees, its
tenants (if any), and its agents (if any) against the Demised
premises including the facilities. Thus any such damages occur shall
be either fixed or repaired by the Tenant at the Tenants account
prior to returning the demised

premises to the Landlord on the

Termination Date.
6

The Tenant will not undertake any repairs that will alter the internal
structure

of the demised premises

in anyway,

without the

Landlords written permission.

7

The Tenant shall use the demised premises for residential purposes
only

The Tenant shall not use the demised premises for any unlawful
purpose.

The Tenant shall not make any alterations or additions or

improvements to the demised premises without the Landlords prior
written consent which consent shall not be unreasonably withheld.
If any alterations, additions or improvements are made by the
Tenant, the Tenant shall, (before the expiry or termination of this
Tenancy Agreement, unless the Landlord otherwise agrees in writing
in which case any alterations, additions and/or improvements shall
become the Landlords property) remove them and re-instate the
demised

premises to the condition in which they were before the

improvements, additions and/or alterations were effected.

10

Unless

otherwise

agreed,

the

Tenant

shall

not

under

any

circumstances have any claim of whatsoever nature against the

Landlord for any alterations, additions or improvements to the
Demised premises.
11

The Tenant shall make no alteration or addition to the demised

premises without the expressed consent of the Landlord in writing.
Any fixtures installed by the Tenant shall be at its own expense, and
if not removed at the end of this Agreement term/period, shall
become the property of the Landlord.

12

Upon the termination of this Agreement by whatever reason, the

Tenant shall restore the demised premises, furniture, fixtures and
other personal property to the original condition. If the Tenant's
properties are not removed by the Tenant within 15 days after the
termination of this Agreement, then the Landlord shall be entitled to
dispose in whatever manner he thinks fit.

13

The Tenant shall be liable for all damage and loss caused to the
Landlord as a consequence of the direct failure and negligence of
the Tenant to comply with the terms of this Tenancy Agreement.

14

The Tenant shall forward to the Landlord, immediately upon receipt

thereof, copies of any notices received by the Tenant from any
governmental authority relating to the Tenants occupancy or use of
the Leased demised premises provided that it is hereby agreed that
the Landlord shall only respond to such letters/notices if the party to
respond to the contents of the Notice is the Landlord.

15

The Tenant shall comply with all applicable environmental laws and
requirements and shall not cause, permit or allow the presence of
any hazardous substances in or about the Demised premises in
violation of such laws and requirements, or in a manner which may
give rise to liability for environmental cleanup, damage to property,
or personal injury to the Landlord, other tenants in the Demised
premises or any other person.

16

Not to do or permit to be done any act or thing which may be or

grow to be a nuisance or disturbance to the Landlord or occupiers of
adjoining demised premises.

17

To maintain peace at all times, during the term herein granted with
other tenants in the Demised premises and ensure that its
employees and servants also adhere to this covenant

4 MAINTENANCE AND INSPECTION

4.1

The Landlord shall be entitled to enter the Demised premises at all

reasonable times upon giving at least 48 hours of its intention to do
so either through its representatives or servants or through
contractors for the purpose of inspecting the demised premises and
for carrying out any repairs or other work in respect of the demised
premises if it should desire or need to do so.

The Landlords

representatives, agents or servants will be guided when doing work

in the demised premises.

4.2

Ninety (90) days prior to the expiration of this Tenancy Agreement,

the Landlord shall be entitled to enter the demised premises, at the
reasonable times as agreed with the Tenant for the purpose of
permitting viewing of the Demised

premises to other prospective

Lessees and to place notices on the demised premises for the

purpose of sale or letting.
5.

TRANSFER OF LEASE, SUB-LETTING

The Tenant shall not assign or sublet this Tenancy Agreement or any part
of it to any third party without the Landlords written permission, which
permission shall not be unreasonably withheld.

6.

LIABILITY AND LIMITATION OF LIABILITY

Either Party shall have a liability towards the other as a consequence of
the direct gross negligent act or omission of the other Party.

7.

RENEWAL OF TENANCY
The Tenant shall give notice of its intention to renew the tenancy if it so
desires at least 6 (Six) months before the expiration of the term hereby
granted by the Landlord and provided there is no subsisting breach of
any of the Tenants covenants and/or obligations herein contained, the
Landlord may grant a FURTHER TERM to the Tenant subject to such rent
and upon such conditions as may be agreed upon by the parties. If
however at the expiration of this present Tenancy Agreement, no
agreement is reached between the Landlord and tenant, then the option
to renew cannot be exercised and becomes void ab initio.

8.

TERMINATION

Both parties shall have a right to terminate this Agreement with 6 months
notice in writing.
SIGNED AND DELIVERED BY THE within named
LANDLORD, MR. DOTUN OLUSOLA
-------------------------------in the presence of:
Name ..
Signature .
Title .
Date
SIGNED AND DELIVERED BY THE within named
TENANT,

MR.

BANKOLE

--------------------------------in the presence of:

Name ..
Signature .
Title .
Date

DOTUN

OLUFEMI