TENANCY AGREEMENT

BETWEEN
FEMAG LUXURY LIMITED
(LANDLORD)

AND

MR. ODEBIYI ISAAC AYOMIDE

(TENANT)

IN RESPECT OF
THE FOUR (4) BEDROOM DUPLEX (ONE ROOM BOYS’ QUARTERS ATTACHED) AT
27B, FAWOLE ARIBIYI STREET, DIVINE HOMES ESTATE, AJAH, LAGOS STATE.

Prepared by: Ade Obatayo Esq

ADE OBATAYO & CO
(Legal Practitioners)
13/15, Independence Street
Anifowoshe Village
Ikeja
Lagos State.
07035559139
THIS TENANCY AGREEMENT is made the …..…day of ……...………...
2023

BETWEEN

FEMAG LUXURY LIMITED

of Shop G12, Royal Plaza Complex, off Agungi, Ajiran, Lekki, Lagos State
(hereinafter referred to as “The Landlord” which expression shall where the
context so admits include its heirs, assigns and successors-in-title) of the one part.

AND

MR. ODEBIYI ISAAC AYOMIDE

of 13B, Jaiye Ola Ajatta Street, Ajao Estate, Lagos State (hereinafter referred to
as “The Tenant” which expression shall where the context so admits include his
heirs, assigns and personal representatives) of the other part.

1. WHEREAS:
The Landlord has agreed to lease four (4) Bedroom Duplex (One Room Bq
attached) with appurtenances attached thereto being part of its building
located at 27B, Fawole Aribiyi Street, Divine Homes Estate, Ajah, Lagos
State to the Tenant and the Tenant has agreed to take the lease subject to
the terms and conditions hereinafter stated.

2. NOW IT IS HEREBY AGREED as follows:

In pursuance of the said agreement and in consideration of the rent
hereinafter contained, the Landlord HEREBY DEMISES UNTO THE Tenant
ALL THAT FOUR (4) BEDROOM DUPLEX (ONE ROOM BQ ATTACHED) with
appurtenances attached thereto situate at 27B, Fawole Aribiyi Street,
Divine Homes Estate, Ajah, Lagos State hereinafter referred to as ‘the
demised premises’ to hold the same from the 15th day of December, 2023
for a term of one (1) year certain terminating on the 14th day of December,
2024, the rent being the sum of N4,000,000.00 (Four Million naira) only
paid in advance (the receipt whereof the Landlord hereby acknowledges).
3. THE TENANT HEREBY COVENANTS WITH THE LANDLORD as follows:

i. To pay the rent yearly at the time and in the manner aforesaid without any
deduction whatsoever.

ii. To pay and discharge all electricity and water bills which are or may
hereafter be assessed, charged or imposed or payable in respect of the
demised premises during the term hereby granted.

iii. To pay, bear and discharge proportionate part of all rates, taxes and
assessment, imposition, duties, charges and outgoings whatsoever whether
imposed by Federal, State or Local Authority which are now or may
hereafter become imposed or charged upon the occupiers of the demised
premises during the term hereby granted.

iv. To use all fixture and fittings in the demised premises in a reasonable and
tenantable manner and to replace or repair missing items or all damaged
and defects caused by him or by his servants and or agents.

v. Except with the consent of the Landlord or its agent in writing, the Tenant
shall not make any structural alteration or additions to the demised
premises or any part thereof.

vi. Not to assign, sub-let or otherwise part with or share possession of the
demised premises or any part thereof without the written consent of the
Landlord or its agent.

vii. To use the demised premises for Residential Purpose only and not to use
suffer or permit anyone to use the same for any other purpose.

viii. At the expiration or termination of the lease hereby granted, to yield up

possession of the demised premises with all the Landlord’s fittings, to the
Landlord, in such a state of repair, condition, order and preservation as
they were at the commencement of this lease.

ix. To permit the Landlord and its duly authorized estate surveyors or agents
with or without workmen at all reasonable times to enter into the premises
and examine the condition thereof and thereupon, the Landlord may serve
 on the Tenant notice in writing specifying any repairs necessary to be done
and require the Tenant to effect same.

x. Not to do or permit or suffer to be done any act, deed, matter or thing

whatsoever, whereby the risk of the house being destroyed or damaged by
fire shall be increased, so as to require an additional premium for insuring
the same.

xi. Not to do anything or suffer or permit any person residing with him or any
guest or visitor to do something likely to cause inconvenience or annoyance
or be a nuisance or in any way interfere with the quiet or comfort of
adjoining or neighbouring occupiers.

xii. Not to do or permit to be done any illegal or unlawful acts on the premises.

xiii. In the event of power failure, to use generator within reasonable hours
according to stipulations in the community for security reasons.

xiv. To participate in the general cleaning of the compound during the monthly
environmental sanitation exercise and to pay his share of cleaner’s salary (if
any) regularly.

4. THE LANDLORD COVENANTS WITH THE TENANT as follows:

i. To keep the demised premises structurally sound (and in good and

tenantable repair and condition) including the exterior of the building and
all additions thereto.

ii. That the Tenant paying the rent hereby reserved and observing the several
covenants and stipulations on his part herein contained shall peaceably
hold and enjoy the demised premises and any fixture therein during the
continuance of the tenancy without any interruption by the Landlord or any
person rightfully claiming under or in trust for the Landlord.

iii. That the Tenant may install air-conditioning unit(s) and other Tenant
fittings upon the demised premises provided that same shall be removed at
the termination of the term hereby created and upon such removal to
 restore the premises to its former state prior to such installation or fitting.
On no condition whatsoever must window unit be installed.

5. PROVIDED ALWAYS and it is hereby expressly agreed as follows:

i. That if any covenants on the part of the Tenant herein contained shall not
be performed and remain unperformed for a period not exceeding one (1)
month after a prior written notice to the Tenant to remedy such default
then and in any of the said case, it shall be lawful for the Landlord at any
time thereafter to re-enter upon the property or any part thereof and
thereupon this lease shall absolutely determine but without prejudice to
any rights or obligation which may have accrued to either party during the
term of this tenancy/lease.

ii. That the rent hereby reserved shall be subject to upward review at any
time it becomes necessary to do so.

iii. That this tenancy is for a fixed term and becomes determined upon the
expiration of the rent paid by the Tenant. Upon determination of tenancy, a
7 days’ Notice is sufficient to terminate this tenancy and the tenant is
expected to handover possession. However, the terms of this agreement
shall serve as the model for subsequent tenancies of the tenant and
subsequent tenancies created shall be fixed in nature.

iv. That failure of either party to insist upon the strict performance of any of
the terms, conditions and covenants herein contained shall not be deemed
a waiver of any subsequent breach or default of any of the terms,
conditions or covenants on their part herein contained.

v. That all notices required to be given to the Tenant under the terms of this
lease shall be sufficiently served on the Tenant if left on the demised
premises or sent to him by registered post AND if addressed to the
Landlord it shall be sufficiently served if sent by registered post to the
Landlord’s address provided that where notice(s) are sent by registered
post, it shall be deemed to have been duly served on the date of such
registration.
IN WITNESS WHEREOF the parties have hereunto set their hands and seals the
day and year first above written.

The Common Seal of the Landlord (FEMAG LUXURY LIMITED) is hereby affixed in
the presence of:

…………………………………… …………………………………
DIRECTOR SECRETARY

SIGNED, SEALED AND DELIVERED

By the within-named TENANT
MR. ODEBIYI ISAAC AYOMIDE ___________________
TENANT
In the presence of:

Name:
Address:
Occupation:
Signature: