LEASE DEED
This LEASE DEED made on this ___ September 2012 at ______
between Mr.____ aged __ years, S/o.____ residing at ______ hereinafter referred
to as the Lessor which expression shall wherever occurs shall mean and include
their legal heirs and nominees of the ONE PART
And Mr._____, aged about__ years S/o.___ residing
at _____ hereinafter called the Lessee which expression wherever occurs shall
mean and include his nominees and assigns of the OTHER PART
Whereas
The Lessor represents that he is the absolute owner of the property bearing Ground
Floor including parking facilities (1182 sqft), ____address______
and the
Lessee has agreed to take on lease the
said property belonging to the Lessor on
the condition contained hereinafter.
1.
THE LESSEE HEREBY COVENANTS AND
AGREES AS FOLLOWS :
A.
That in consideration of the rent, the
Lessor hereby grants to the Lessee the
right to occupy and use the said premises including all existing fittings,
fixtures, electrical, sanitary, gates etc., (list attached) carefully described
in the schedule forming part of this deed at a monthly rent of
Rs.___/- (Rupees --- thousand only).
B.
That the Lessee shall pay a monthly rent` of Rs.____/- (Rupees ---- thousand only). for the leased premises of the
Lessor. The house tax and other taxes
will be borne by the Lessor .
C.
That the Lessee shall pay the agreed
monthly rent to the Lessor on or before 5th of every month. Tax, if any paid by the lessee will be
deducted from the monthly rental as applicable.
D.
That the lease shall be for a period
of ___ months commencing from __ October 2012.
E.
That the Lessee shall pay a sum of Rs._____/-(Rupees
--- thousand only) as security deposit to the Lessor. This amount carries no interest and is
returnable to the Lessee on the termination of the lease.
F.
That the electricity charges related
to the building occupied by the Lessee, and water charges will be borne by the
Lessee.
G.
For the purpose of giving any notice
or sending any communication the address of each party as mentioned above shall
be deemed to be the proper address on which such notice or communication is
made.
H.
The Lessee shall not carry out any
offensive trade or prohibited business in the premises let out to him.
I.
The Lessee shall be entitled to vacate
the premises during the subsistence of the lease by giving three months advance
notice to the Lessor. The Lessor
shall on receiving the notice for termination of the lease, refund the amount
paid as a security deposit on or before the date of termination of the lease
after deducting amounts if need be, for any damages caused to the property,
excluding that due to the normal wear and tear, which shall not in any event
exceed half the monthly rental.
J.
That the Lessee shall on the expiry of
this lease or on sooner determination thereof, quietly and peacefully deliver
the possession of the property subject to the refund of the security deposit by
the Lessor.
2. THE
LESSOR HEREBY COVENANTS WITH THE LESSEE AS FOLLOWS:
a)
That the Lessee on paying the rent
hereby reserved and on observing and performing the several covenants and
conditions on this part contained herein shall peacefully enjoy the demised
premises together with all fixtures and fittings during the term of the lease
without any interruption by the Lessor .
b)
That the Lessor shall be responsible for the payment of all
the existing and future property tax or any other tax payable in respect of the
property.
c) That the Lessor shall be responsible for
payment of electricity bills and arrears if any, incurred in respect of the
demised property prior to the occupation of the premises by the Lessee.
d) That the Lessor may for any just and
sufficient reasons be entitled to terminate the lease during the tenure of the
lease by serving three months
advance notice and returning the
security deposit to` the Lessee.
e) The Lessor shall be liable to pay an interest of 18%p.a for any delay in
repayment of the security deposit. The period for calculation of interest shall
be from the date of termination of the lease till the actual date of payment of
the amount.
3. PROVIDED
ALWAYS AND IT IS EXPRESSLY AGREED AS FOLLOWS:
(i) That if the rent hereby reserved or any
part thereof shall remain unpaid for a period of three consecutive months after
becoming payable, the Lessor has the right to determine the lease irrespective
of the terms by which granted.
(ii) That if the security deposit liable to be
paid on the determination of the lease by the Lessor remains unpaid, the Lessee
shall have the right to keep possession of the leased premises without
prejudice to the recovery of interest till the entire amount along with
interest is paid and shall also be entitled to take recourse to legal remedies
to recover the same.........................................
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