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Mr………………………………………………………………………………
………………………………………
(hereinafter referred to as “Lessor” (which expression shall, unless repugnant
to the context thereof, mean and include his successors, legal heirs, executors,
administrators and permitted assigns) represented by its authorized signatory
Mr………………………..of the First Part;
AND
A. WHEREAS the Lessor has represented that it is the lawful owner of the
premises bearing No. ………………having area of around ………Sq Ft
carpet area in the …………… floor and ………….sq.ft area carpet in
the …………… floor (more fully described in the Schedule written
hereunder) and which is hereinafter referred to as the Schedule
Premises.
B. WHEREAS the Lessee is engaged in the business of
……………………………….
C. WHEREAS the Lessor has assured and guaranteed that the schedule
premises could be used by the Lessee for conducting its Commercial
activities and for retail purposes and that such use of the Schedule
premises by Lessee is fully permissible. The Lessee believes the said
representation as correct and in good faith has accepted the same.
2. Period of Lease:
This Lease shall be for a period of ….. years commencing from
……………… i.e. the date when the Lessee starts payment of lease rent
after the rent free fit out period granted by the Lessor to the Lessee.
(hereinafter referred to as the “effective date). It is further agreed by the
parties that upon the expiry of the said period of …………… years this
Lease may be further renewed upon the mutual representations.
3. Lease Rent:
b. It is agreed that the above Lease Rent shall be payable by the Lessee to
the Lessor on or before 10th day of every succeeding month for the
Lease Rent that has become payable for the previous month subject to
tax deduction at source as applicable.
b. The Lessor shall refund such Security Deposit to Lessee upon expiry or
termination of the Lease as per terms of this Lease Deed. In case if the
Lessor fail to refund the security deposit to the Lessee, the Lessee shall
continue to occupy the schedule premises without payment of any Lease
Rent till such time the Lessor refunds the security deposit. The refund of
the security Deposit by the Lessor and handing over the possession by
the Lessee shall be simultaneous and reciprocal.
c. The said Security Deposit shall also be refunded forthwith by the Lessor
to the Lessee in case of any such unforeseen action that may proposed to
be initiated by any Statutory authority including but not limited to the
Municipal corporation of ………….. with regard to the schedule
premises. The said action by any authority may be including but not
limited due to any defect in the Title to the Schedule premises or with
respect to the unauthorized construction and/or with regard to the misuse
of either the entire and/or portion of the Schedule premises by the
Lessor.
6. Usage:
Lessee shall not sublet, underlet or part with possession of the Schedule
Premises and shall use the premises for conducting business of
…………………..
9. Taxes:
The Lessor shall pay the property taxes or any other taxes / Levies
imposed by any authority with respect to the Schedule Premises to the
respective authorities. The Lessee shall pay the taxes with respect to its
business.
11. Insurance:
It is specifically understood that the Lessor shall insure the said
Schedule Premises against the risk of fire, lightening and any
earthquakes. Similarly the Lessee shall insure all the materials and
whatever merchandises that may be inside the schedule premises in a
similar way.
14. Inspection:
The Lessee shall permit the Lessor during working hours in the daytime
and upon making prior appointment with the Lessee, to inspect the
Schedule Premises at regular intervals and satisfy himself that the
Lessee is using the Schedule premises according to the terms of this
agreement.
15. Representation:
The provisions of this agreement shall bind the heirs, executors, legal
representatives, successors of the Lessor and/or such assignees of the
Lessor as are expressly permitted in writing by the Lessee. During the
continuance of this Agreement, the Lessor shall not except with the prior
written permission of the Lessee, be entitled to transfer or dispose of or
alienate the premises/building or any part thereof in any manner or enter
into any such arrangement as a result of which the use or possession or
facility of the Schedule premises or the carrying on of the business
envisaged herein is in any manner jeopardized or effected. In the
unlikely event of the Lessor selling, disposing of or alienating the said
premises in any manner, the Lessor shall ensure that all the rights of
Lessee under this Lease Deed are protected and that all the terms of this
Lease are binding on such transferee of the Schedule Premises as if this
Lease was originally entered into with such transferee and such sale,
transfer or disposal as aforesaid had not happened at all.
17. Indemnity:
The Lessor shall indemnify and keep the Lessee indemnified against any
and all claims, demands, losses, costs damages, suits, judgments,
penalties, expenses, and liabilities of any kind or nature whatsoever
imposed by or payable to any statutory authority or by any third party to
the extent that they are attributable to any express or implied act, default
or omission of Lessor or to any breach or non compliance by Lessor of
any of the terms of this Lease. The Lessor shall further indemnify and
keep the Lessee indemnified against any adverse consequences arising
out of non compliance with the conditions under this Agreement and has
undertaken that they shall alone bear any costs, damages, penalties or
any other loss by whatsoever name, to the exclusion of the Lessee. Any
loss or penalty imposed on account of the failure to adhere to any of the
conditions stipulated in this Agreement shall be borne by the Lessor and
the Lessee shall not be liable for any damages or payments in this
regard. The Lessor undertakes that they shall make good any loss or
damage that the Lessee might suffer on account of the failure of the
Lessor to adhere to any of the conditions stipulated under this
Agreement.
The Lessor further undertakes that they shall indemnify and make good
any loss or damage that the Lessee might suffer on account of any action
by any statutory authority including but not limited to the Municipal
Corporation of ……………. with regard to the Schedule premises. And
such action may be including but not limited due to any defect in the
Title to the Schedule premises or with respect to the unauthorized
construction and/or with regard to the misuse of either the entire and/or
portion of the Schedule premises by the Lessor.
19. Notice:
All approvals, consents and notices required to be given or served
hereunder shall be delivered, sent, by registered post or by telex or
telefax or couriered to the following addresses:
21. Termination:
The Lessee can terminate this Lease for whatsoever reason by giving 90
days written notice to the Lessor at the address mentioned at Clause 19
supra. The Lessor can terminate this Agreement, if the Lessee fails to
pay the Lease rent consecutively for three months and if the Lessee fails
to rectify the same with in thirty days from the date of receipt of the due
notice from the Lessor.
23. Arbitration:
In the event of any dispute, differences or claims arising between the
parties in connection with this agreement or the construction or
interpretation of any of the clauses hereof or any thing done or omitted
to be done pursuant hereto, the parties shall first endeavor to amicably
settle such disputes, differences or claim failing which the same shall be
settled in accordance with the Arbitration and Conciliation Act 1996 and
the venue of such arbitration shall be only at ……………….
SCHEDULE
All that piece and parcel of the commercial premises situated at No.
…………………………… having total area of ………..Sq Ft carpet
area on the ……….. floor and……………… sq.ft area carpet bounded
as follows:
East By :
West By :
North By :
South By :
Authorized Signatory
WITNESSED BY:
1.
2.