- LEASE DEED
THIS INDENTURE OF
LEASE made at ___this___day of ___, 2001, BETWEEN
Mr.___son of ___ residing at ___hereinafter
referred to as the " LESSOR" (which
expression shall unless it be repugnant to the
context or meaning thereof, be deemed to mean and
include his heirs, legal representatives,
successors and assigns) of the ONE PART; AND
___, a company incorporated under the Company's
Act 1956, having its registered office at___
hereinafter referred to as LESSEE (which
expression shall unless it be repugnant to the
context or meaning thereof, be deemed to mean and
include its successors and permitted assigns) of
the OTHER PART.
WHEREAS THE LESSOR
is absolutely seized and possessed of or
otherwise well and sufficiently entitled to all
that piece and parcel of land or property
situated at___ (hereinafter referred to as the
"Demised Premises").
AND WHEREAS THE
LESSOR has agreed to demise a portion of the
premises known as___(give full detail of the
property) admeasuring approximately___Sq.ft to
the LESSEE with the fixtures for their office
purposes at the rate and terms and conditions
herein set out.
NOW THIS INDENTURE
WITNESSETH AS FOLLOWS:
1. The LESSOR doth
hereby demise unto the LESSEE all that piece and
parcel of property as mentioned above for a term
of ___ years yielding and paying therefore to the
LESSOR a monthly rent in the manner as provided
herein below, payable on or before the___ day of
each and every English Calendar month in advance
commencing from the date hereto. Taxes, as
applicable, shall be deducted at source, by the
LESSEE.
- a.
Rent of a sum of Rs.___ per month
at the rate of Rs___ per sq.ft
for a period of___years including
all outgoings to the LESSOR
account.
- b.
The above rental sum shall be
inclusive of all maintenance
charges of the demised premises.
- c.
The lease deed is commences
from___
- d.
After the expiry of lease period
of ___ years, the lease stands
renewed for another period of
three years with a increase in
the rent at the rate of ___% on
the rent last paid.
2. In addition to
the above rentals payable by the LESSEE, a
refundable interest free security deposit of
Rs.___ equivalent to one year rent shall also be
deposited by the LESSEE with the LESSOR on
signing of the lease agreement upon which,
immediate possession of the Demised Premises
shall be given by the LESSOR to the LESSEE.
3. The LESSEE for
themselves and their successors and assigns and
to the intent that the covenants herein contained
shall continue throughout the term hereby created
with the LESSOR as follows:
- a. To
pay the LESSOR the monthly rent
hereby reserved at the time and
in the manner hereinbefore
provided.
-
- b. To
use the said Demised Premises
and/or structures that may be
standing and/or that may be put
up in the said Demised Premises
for the purpose whatsoever and
howsoever, permissible by law
with permission from LESSOR.
-
- c. To
pay _______, the electricity
bills on the basis of reading
recorded in the separate meter
No.____________ for the demised
premises @ charged by the
____________________. The water
charges shall be paid by the
LESSEE to the LESSOR on the basis
of the reading recorded in the
sub-meter installed by the LESSOR
under the overhead water tank,
against the bill raised by the
LESSOR at the rates fixed by the
(concerned board).
-
- d. To
permit the LESSOR and his agents
at all reasonable times on giving
24 hrs. written notice in that
behalf, to enter upon the said
Demised Premises for all
reasonable purposes.
-
- e. To
comply with all the applicable
statutory, governmental,
municipal and other rules
pertaining to the running of the
business and shall indemnify and
keep indemnified the LESSOR
against any claim made or loss
suffered by the LESSOR by reason
of any breach of any rule,
regulation and law by the LESSEE,
in respect of the said use of the
demised premises.
-
- f.
That the said premises shall be
used exclusively for official use
by the LESSEE and for no other
purpose.
4. THE LESSOR DOES
HEREBY COVENANT WITH THE LESSEE THAT :
a. The
LESSEE, paying the rent hereby reserved
and other charges and observing and
performing the covenants and conditions
contained herein, and on the part of the
LESSEE to be observed and performed,
shall and will peaceably and quietly
enjoy the said Demised Premises during
the said term without interruption or
disturbances by the LESSOR or any person
or persons lawfully or equitably claiming
from, under or in trust for them or any
of them.
b. The
LESSOR shall permit the LESSEE, its
employees, workers, visitors and other
persons authorized by the LESSEE,
peaceful and uninterrupted use and
enjoyment of the Demised Premises and the
business during the entire term of the
Lease hereby granted
c. To pay
all taxes, charges, duties or fees and
outgoings including land assessments and
municipal taxes, etc. payable in respect
of the said Demised Premises.
d. To
indemnify and keep indemnified the LESSEE
for all actions, claims, litigation,
damages etc.. from third parties for all
reasons attributable to any
non-performance on the part of the LESSOR
with respect to her obligations as the
owners of the Demised Premises.
e. To
maintain the lift and pay service &
maintenance charges.
f. That
the LESSOR will before giving possession
get in full working condition all
sanitary, electrical and water supply
connection and other fittings, fixtures
pertaining to the said premises. Any
structural or major repairs after
occupation, shall be carried out at the
earliest by the LESSOR on failure of
which the LESSEE shall have the option of
carrying out the same if causing
inconvenience (eg leakages etc) and be
entitled to deduct the proportionate
amount from the rent . The LESSOR shall
provide two duplicate keys (one for the
LESSOR and the other for its employee) of
the said premises to the LESSEE on the
execution of this agreement.
g. That
the LESSEE shall not in any event be
responsible or liable for any loss or
damage to any goods or property of the
LESSOR whatsoever be the cause of such
loss or damage unless due to the default
of the LESSEE and that reasonable wear
and tear and loss or damage by fire,
flood, rain, accident, theft,
irresistible force or act of god or any
other accident due to force majeure
beyond the control of LESSEE shall not be
the responsibility of the LESSEE.
5. PROVIDED ALWAYS
AND IT IS HEREBY AGREED AND DECLARED AS FOLLOWS:
Upon expiry of the
lease period granted herein, the LESSEE shall
have the Right of First Refusal for any extension
thereof, which shall be on mutually agreed terms
between the parties.
a. The
LESSOR shall not have any right of
termination of this lease before the
expiry of the lease period, save and
except in the event of any breach by the
LESSEE, which breach remains unrectified
for a period of more than one month from
the date of receipt of notice by the
LESSEE from the LESSOR for rectification
of the said breach. However, the LESEE
shall be entitled to terminate this
Lease, by giving written notice of three
months, to the LESSOR.
b. That on
the expiry of the agreement or its
earlier revocation / termination , the
LESSEE shall hand over peaceful and
vacant possession of the said premises
alongwith its fixtures and fittings as
existent at the time of the agreement on
refund of the security deposit by the
LESSOR.
c. The
LESSEE shall be entitled to add, install
or affix items of necessity and make
modifications and/or changes in the
Demised Premises without demising the
existing structure/structural strength
for the development of their business and
such modifications and/or changes by the
LESSEE in the said Demised Premises shall
exclusively belong to the LESSEE and
LESSEE shall have the right to take away
all such items of modifications and/or
changes as also items added, installed or
affixed in the Demised Premises, upon
expiry of the lease period.
d. The
LESSEE shall be entitled to add, alter
and/or demolish interiors from time to
time of the Demised Premises to suit its
purpose, convenience and business
requirements.
e. There
shall be no increase whatsoever in the
rental and/or the security deposit money,
during the term of this Lease Deed.
6. It is agreed
between the parties hereto that the said premises
shall be used by the LESSEE and / or its
associate, affiliates or group company(s) only
and shall not permit any other person, party,
entity, firm or Company to use the said premises
either with the LESSEE otherwise howsoever. The
Lease hereby granted by the LESSOR to the LESSEE
is personal to the LESSEE is personal to the
LESSEE who shall not any time assign the same and
/ or transfer the benefit of this agreement to
any of the person or party or company provided
the above shall not apply change in name of the
LESSEE or to the use of the premises by companies
/ entities in which the LESSEE or its associate /
affiliate / group company(s) has atleast 51%
share holding or voting power.
7. In case the
LESSOR is not in a position to return the deposit
in full, on time as aforesaid, then the LESSEE
shall have every right to continue to occupy the
said premises, without any let or hindrance from
the LESSOR and paying a rent of Re.1 only to the
LESSOR so long as the LESSOR withholds and fails
to return the deposit alongwith 18% interest
thereon in the manner given in the above
clause.
8. The LESSOR
shall assist the LESSEE in obtaining all
clearances, NOC's, permissions and or consents,
as the case may be, from all statutory or any
other authorities, as applicable, for the
installation, operation and or/running of the
business of the LESSEE.
9. Each party
hereby unconditionally undertake to indemnify and
keep indemnified the other party against all
loss, claims, demands, actions, penalties,
prosecutions, proceedings, damages, costs,
liabilities, expenses or payments of any nature
whatsoever arising in any way as a consequence of
any breach by either party of any term,
conditions or covenants of the Lease granted
herein.
10. The LESSEE
shall not sublet the demised premises or any
portion thereof to any third party.
11. Any notice
intended to be given by any party hereto to the
other shall be deemed to be properly and validly
given only if it is sent by any means registered
A/D post to the LESSOR and the LESSEE at the
below mentioned address and directed to the
person named hereinbelow :
- LESSOR
- ________
- ________
- LESSEE
- ________
- ________
Both the LESSOR
and the LESSEE have the right to change any of
the above stated particulars and such change
shall become effective on the intimation of the
same to the other party.
In the event of
any dispute or difference arising between the
parties concerning the meaning of interpretation
of these presents or the rights and obligations
of the parties, the same shall be referred to
arbitration in accordance with the Arbitration
and Conciliation Act, 1996 or the prevailing
statute.The arbitration shall be conducted in
English. The arbitration shall be held at Mumbai.
Courts in Mumbai alone will have jurisdiction in
the matter.
IN WITNESS WHEREOF
the parties hereto have hereunder set and
subscribed their respective hands to the original
and duplicate hereof the day and year first
hereinabove written.
- Signed Sealed
and Delivered by the
- withinnamed
"LESSOR" Mr.______
- in the
presence of ______________
- Signed Sealed
and Delivered by the
- withinnamed
":LESSEE" ________
- through its
authorised signatory
- Mr.__________________________
- In the
presence of Mr.___________
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