Residential Sublease Agreement

RESIDENTIAL SUBLEASE AGREEMENT

This Residential Sublease Agreement is made this ________ (the "Effective Date") between ________, of the following address:

________

hereinafter referred to as (the "Tenant" which expression shall where the context so admits include its successors-in-title and assigns);

AND

________, of the following address:

________

hereinafter referred to as (the "Subtenant" which expression shall where the context so admits include its successors-in-title and assigns) of the other part.

WHEREAS

A. The Tenant originally entered a Residential Lease Agreement with ________ (the "Landlord") dated ________ (the "Original Lease") for the lease of the Subleased Premises particularly described in this Agreement.

B. The Tenant wishes to sublet the Subleased Premises to the Subtenant with the consent of the Landlord, and the Subtenant agrees to comply with the terms of the Original Lease.

Now, therefore, in consideration of the promises and covenants hereinafter contained in this Agreement, as well as other valuable consideration, the receipt of which is hereby acknowledged, the Parties hereby agree as follows:

1. AGREEMENT TO SUBLET PREMISES

Subject to the terms and conditions contained herein, the Tenant hereby leases the following property which is the entirety of the Subleased Premises together with all appurtenances to the Subtenant:

________

The Sublease shall commence on ________ and shall terminate on ________.

The Subleased Premises shall be used for residential purposes only and no part of the premises shall be used for the purposes of carrying on any business, profession or trade of any kind, PROVIDED ALWAYS that:

(I) the Subtenant shall not receive any paying guests, clients or customers;

(II) the practice of any profession or trade shall not constitute nuisance to the occupiers of the adjoining properties;

(III) the practice of any profession or trade shall not significantly increase the wear and tear of the Subleased Premises;

(IV) the Subleased Premises or any part thereof shall not be used for any illegal, unlawful or immoral purposes.

2. HEAD LEASE

The Subtenant agrees to be bound by all the covenants, terms, and conditions of the Original Lease. No part of the Original Lease or this Agreement shall be modified except such modification is agreed by the Parties.

3. CONTINUING LIABILITY

The Tenant agrees and undertakes to continue to be bound and remain liable to the Lease, and that a breach of the provisions of the Lease shall entitle the Landlord to recover possession of the Subleased Premises, thereby automatically terminating this Agreement.

4. RENT

The Subtenant shall pay the sum of ₦________ (________) every week. The rent shall be due on Mondays. The rent shall be considered advance payment for that week.

The Subtenant shall pay the reserved rent in cash.

If the reserved rent payable under this Agreement is not paid within the period the rent is due for payment, the Subtenant will be charged ________% (________ percent) of the unpaid rent for every period the Subtenant is in default.

5. SECURITY DEPOSIT

The Subtenant shall pay a deposit of ₦________ (________) Subleased Premises. The deposit shall be used as security to cover any damage which may be caused to the Subleased Premises during the period of the sublease. The Subtenant may at the end of the lease be required to make additional payment for the repair of any part of the Subleased Premises that has been damaged by the Subtenant or any of its authorized agents.

The Subtenant shall pay all security deposit in the same manner the rent is paid.

6. MAINTENANCE OF ORDER

The Subtenant agrees not to make or permit the making of any loud or improper noises or otherwise cause nuisance to other residents; and not to at any time during the said term, create or permit to be done on Subleased Premises, any act which may constitute nuisance or annoyance to neighbours and occupiers of adjoining premises.

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8. MAINTENANCE AND REPAIR

The Subtenant and other persons authorized by the Subtenant shall at all times maintain and keep the Subleased Premises and appurtenances in good and sanitary condition and repair with reasonable wear and tear during the term of this Agreement and any renewal thereof.

9. ASSIGNMENT AND SUB-LETTING OF THE PREMISES

The Subtenant undertakes not to let, sublet, short let, or license the use of the Subleased Premises or any part thereof without obtaining prior consent from the Landlord.

10. TERMINATION

If the Lease between the Landlord and Tenant terminates before its natural expiration, this Agreement shall terminate automatically except the Landlord and Subtenant agree to renew the Lease. If the Subtenant violates any fundamental provision of this Agreement, the Agreement shall be determined, and it shall be lawful for the Landlord to enter the Subleased Premises upon the issuance of reasonable notice to take full possession and to eject the Subtenant and all other persons found in the premises.

At the expiration or termination of this Agreement or the lease between the Landlord and Tenant, the Subtenant shall quit, surrender, and deliver the Subleased Premises together with all appurtenances in the same condition it was at the commencement of the Sublease.

11. ABANDONMENT

If at any time during the term of the Sublease, the Subtenant abandons the Subleased Premises or any part thereof before the date of termination, the Landlord shall have the right to repossess the Subleased Premises. The Subtenant will be liable to pay any outstanding rent and other payments which have become due and payable.

12. DISPUTE RESOLUTION

The Parties agree to use their best endeavours to negotiate and settle any dispute or difference of opinion between them, arising from or connected with this Agreement amicably through negotiation. If the Parties cannot resolve their disputes amicably within 30 days, the matter shall be referred to mediation.

The Parties may be represented by legal practitioners in the mediation proceeding. The legal representatives shall provide legal counsel or advice to the Party they are representative, negotiate or execute a binding settlement agreement on behalf of the Party being represented, and encourage amicable and mutual settlement between the Parties.

Experts, professionals, and witnesses may be required and accepted in the mediation process. All parties involved in the mediation process, including experts, professionals, witnesses shall be bound by the rules of confidentiality under this Agreement. The mediation process shall take place at the following venue: ________.

The Mediator shall determine the procedure of the mediation proceedings.

The mediation proceeding shall be conducted in English language. If either of the Parties agrees otherwise, that Party shall, with the consent of the other Party, participate in the mediation proceeding in any other language provided that the Party provides an interpreter at their own expense.

In the event that the Parties are unable to resolve their dispute or reach a mutual settlement through mediation, the matter shall be referred to arbitration.

13. JURISDICTION

The Parties agree that the Nigerian courts shall have the exclusive jurisdiction to settle any dispute or claim in connection with this Agreement.

14. GOVERNING LAW

This Sublease Agreement shall be governed and construed in accordance with the laws of the Federal Republic of Nigeria.

15. GENERAL PROVISIONS

(I) Variation: This Agreement may be amended or varied by either of the Parties, and such variation must be agreed to and signed by the Parties to this Agreement. No delay or omission to exercise any right under this Agreement shall be construed as a waiver.

(II) Notices: All notices under this Agreement may be given orally or in writing. The notices shall either be delivered personally or mailed by a certified mail to the other Party's address or that other Party's attorney.

(III) Headings: Headings in this Agreement are used for convenience ony and shall not be construed to limit or affect the terms of this Agreement.

(IV) Counterparts: This Agreement many be executed in counterparts, all of which constitutes one Agreement.

(V) Entire Agreement: This Agreement and any other agreement described as an addendum to this Agreement constitutes the entire agreement between the Parties and supersedes any prior contrary written or oral agreement made between them.

(VI) Assignment: No Party shall assign any of its obligation or duties under this Agreement, without the prior written consent of the other Party.

(VII) Enurement: This Agreement will enure the benefit of and be binding on the Parties and their respective heirs, executors, administrators and permitted successors and assigns.

(VIII) Cumulative Rights: The rights of the Parties in this Agreement are cumulative and shall not be construed as exclusive except as otherwise stated by the law.

(IX) Waivers: Any term or provision of this Agreement may be waived in writing at any time by the Party entitled to such benefit. No delay, omission to exercise any right shall not be construed as waiver.

(X) Severability: If any part of this Agreement is held unenforceable, the remainder of this Agreement shall continue to be in force and have effect.

(XI) Further Assurance: The Parties shall execute and deliver all such documents and take all such actions and all steps to procure the performance of all such acts as may be necessary or incidental to give effect to the provisions of this Agreement.

IN WITNESS WHEREOF the Parties hereto have executed this Agreement this day and year first written above.

SIGNED by the within named Tenant

____________________
________

in the presence of:

Name................................................................................................................

Address.............................................................................................................

Occupation........................................................................................................

Signature..........................................................................................................

SIGNED by the within named Subtenant

_____________________
________

in the presence of:

Name................................................................................................................

Address.............................................................................................................

Occupation........................................................................................................

Signature..........................................................................................................