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The Warehouse Lease Agreement is essential for businesses requiring storage or distribution facilities in Nigeria. This document is used when a property owner (landlord) agrees to lease warehouse space to a tenant for commercial purposes. The agreement must comply with Nigerian federal and state property laws, particularly the Land Use Act 1978 and local commercial property regulations. It typically includes detailed provisions for rent, maintenance, utilities, insurance, and specific operational requirements for warehouse use. The document is crucial for protecting both parties' interests and ensuring clear understanding of responsibilities, especially considering Nigeria's unique property law framework and commercial practices. This agreement type is particularly important given the growing logistics and e-commerce sectors in Nigeria's major commercial centers.

1. Parties: Identification of the Landlord and Tenant, including full legal names, registration details for companies, and addresses

2. Background: Brief context of the agreement, property ownership status, and purpose of the lease

3. Definitions: Definitions of key terms used throughout the agreement including 'Premises', 'Common Areas', 'Term', 'Permitted Use', etc.

4. Demise: Formal granting of the lease, specifying the warehouse premises and any included facilities

5. Term and Renewal: Duration of the lease, commencement date, and any renewal options

6. Rent and Payment Terms: Rent amount, payment schedule, method of payment, and rent review provisions

7. Security Deposit: Amount, terms of holding, and conditions for return of the security deposit

8. Permitted Use: Specified allowed uses of the warehouse premises and any restrictions

9. Maintenance and Repairs: Responsibilities of both parties regarding maintenance, repairs, and improvements

10. Utilities and Services: Responsibility for utilities, services, and associated costs

11. Insurance: Required insurance coverage for both parties

12. Compliance with Laws: Obligations to comply with relevant laws, regulations, and permits

13. Access and Security: Rules regarding access to the premises, security arrangements, and operating hours

14. Assignment and Subletting: Conditions under which the tenant may assign or sublet the premises

15. Landlord's Covenants: Obligations and warranties of the landlord

16. Tenant's Covenants: Obligations and warranties of the tenant

17. Termination: Grounds for termination, notice requirements, and consequences of termination

18. Dispute Resolution: Process for resolving disputes between parties

19. Governing Law: Specification of Nigerian law as governing law and relevant jurisdiction