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Lease Amendment
"I need a Lease Amendment for our commercial property in Lagos, extending the lease term by 5 years from March 1, 2025, with a 15% increase in rent and updated maintenance responsibilities."
1. Parties: Identification of the landlord and tenant, including their full legal names, addresses, and any registration numbers for corporate entities
2. Background: Recitals referencing the original lease agreement, its date, and any previous amendments, establishing the context for this amendment
3. Definitions: Key terms used in the amendment, including reference to definitions in the original lease and any new terms introduced
4. Amendment Effective Date: Specific date when the amendments will take effect
5. Confirmation of Original Lease: Statement confirming that the original lease remains in effect except as specifically modified by this amendment
6. Amendments: Detailed description of each modification to the original lease, with clear reference to the relevant sections being amended
7. Binding Effect: Confirmation that the amendment is binding on both parties and their successors and assigns
8. Governing Law: Confirmation that Nigerian law governs the amendment
9. Counterparts: Provision allowing the amendment to be executed in multiple counterparts
10. Execution: Signature blocks for all parties and witnesses
1. Rent Modification: Used when the amendment includes changes to rent amounts or payment terms
2. Term Extension: Required when the lease term is being modified
3. Security Deposit Adjustment: Included when changes to the security deposit are being made
4. Use Clause Modification: When changes to permitted use of the property are being made
5. Maintenance and Repairs: When responsibilities for maintenance and repairs are being redistributed
6. Insurance Requirements: When modifications to insurance obligations are included
7. Subletting and Assignment: When changes to subletting or assignment rights are being made
8. Utilities and Services: When responsibility for utilities and services is being modified
1. Schedule A - Original Lease: Copy or summary of the original lease agreement being amended
2. Schedule B - Modified Rent Schedule: Detailed breakdown of new rent amounts and payment dates, if applicable
3. Schedule C - Property Description: Updated property description if any changes to the leased premises are being made
4. Schedule D - Floor Plans: Updated floor plans or drawings if the leased space is being modified
5. Appendix 1 - Condition Report: Updated condition report if relevant to the amendments
6. Appendix 2 - Special Conditions: Any new special conditions or modifications to existing special conditions
Authors
Real Estate
Commercial Property
Retail
Industrial
Office Space
Residential Property
Healthcare
Education
Hospitality
Manufacturing
Warehousing
Agriculture
Mining
Oil and Gas
Financial Services
Legal
Real Estate
Facilities Management
Operations
Finance
Compliance
Property Management
Asset Management
Administration
Risk Management
Property Manager
Real Estate Manager
Facilities Manager
Legal Counsel
Corporate Lawyer
Estate Agent
Operations Manager
Asset Manager
Leasing Manager
Chief Financial Officer
Real Estate Director
Property Administrator
Compliance Officer
Contract Manager
Business Development Manager
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