FORMAT OF LEASE DEED
This Agreement (“Lease Deed”) is made on this _____ day of ______2016 at Mahodadhi Bhawan, L6/29, Panchasakha Nagar, Dumuduma, Bhubaneswar- 751019.
BETWEEN
______, aged about years, S/o. ______, resident of ______, P.S.- ______, Dist – ______, State ______(which expression shall unless the context otherwise require, shall and mean and include) of the ONE PART. CALLED LESSOR.
AND
M/s. MAHODADHI RESORTS LTD. having its CIN. No. U55101OR2010PLC012825 represented by its Managing Director Mr. Himansu Sekhar Mishra, aged 55 yrs. S/o. Late Damodar Mishra. Registered office At- Mahodadhi Bhawan, L6/29, Panchasakha Nagar, Dumuduma, P.S-Khandagiri, Bhubaneswar - 751019, Dist-Khurda, Odisha herein after to as “the LESSEE (which expression shall unless the context otherwise require, shall and mean and include) of the SECOND PART. CALLED LESSEE.
WHERE AS:
A. The Lessor is the owner and entitled to and proposed Flat No._____, ____ Floor, Block-____, Tulasi Vihar, Samang, P.S. - Puri Sadar, Dist – Puri, Odisha details of which mentioned in the schedule of property meant for lease.
B. The lessee is desirous of taking on lease basis and the Lessor has agreed to give the said Premises on Lease basis to the Lessee for the period and on such terms and conditions as hereinafter appearing.
NOW IT IS HEREBY AGREED BY AND BETWEEN THE PARTIES HERETO AS FOLLOWS:
1. In consideration of the Lease Rentals (hereinafter defined) herein reserved and observance of the terms and conditions on the part of the Lessee hereinafter contained, the Lesser both hereby grant permission to the Lease for use and enjoyment of the premises on above mentioned description of the schedule hereto annexed and marked as “Schedule of property” (hereinafter referred to as “the said Premises”) located at Tulasi Vihar (Hereinafter referred to as the premises) for a period of 7 (seven) years commencing from ______and expiring on ______(“Expiry Date”) and the party will continue for 7 (seven) years.( each Calendar year 365 days)
Further, the parties agree that the Lessee has the option to renew the Lease of the said Premises, for a further period as agreed by both the Parties with mutual agreed Terms and Conditions.
2. Rent & Deposit:
a. The Lessee hereby agree to pay to the Lessor lease rentals (“Lease Rentals”) at the rate of Rs.5,000/-(Rupees Five Thousand Only) per month for the use and enjoyment of the said premises and after every two years 10% rent enhanced. Lessee shall pay such Lease Rental to the Lessor regularly by the 7th day of the month following the month for which it is due or in advance at a time for period of six months, direct transfer the account of the Leseeor through cheque /bank draft or RTGS. .
b. It is agreed that the advance rent cheque shall be made in the name of Mr. ______payable at Bhubaneswar and will be deemed to be sufficiently paid upon the tender of such cheque at Bhubaneswar Vijaya Bank, Aiginia Branch for a period three months before execution of this Agreement.
c. The Lessee has deposited a sum of Rs.15,000/- (Rupees Fifteen Thousand only) vide Cheque No.______, Dt.___ / ____ 2016 of Vijaya Bank, Aiginia Branch, Bhubaneswar, in advance as Security Deposit with the Lessor as interest free deposit for the due performance of this Lease Deed, receipt of which the Lessor hereby acknowledges. The Lessor without any deductions whatsoever shall forthwith refund the said Security Deposit to lessee on dissolution of this agreement.
d. That the Lessee shall maintain the said premises in good condition and undertake the construction at their own risk to operate their lawful commercial activities say as “PART OF MAHODADHI RESORTS LTD.” in the said Flat without creating any their liability to Lessor and enjoy the said construction premises for own business.
e. That the Lessee shall be entitled to peaceful and uninterrupted use of the said premises during the term of Lease period, free of any interference, interruption or objection whatsoever by any person claiming through and on behalf of the Lessor. He hereby assures the Lessee for its peaceful and uninterrupted stay in the said premises.
f. That the Lessee shall be entitled to install and use telephones and other equipments in the said premises as may be convenient to the Lessee. But the Lessee alone shall be responsible for all charges thereof.
3. Modification of interior: It is agreed and acknowledged by the parties that the lessee shall have the right to change or modify the interior of the said Flat at his own risk with out creating any liability to the Lessor and Lessee shall do lawful business for his benefit where Lessor shall have no interference.
4. Maintenance Charges: The Lessee shall be responsible to pay the monthly maintenance charges to the “Tulasi Vihar Customers Services Pvt. Ltd” and levied by the Govt. Of Odisha or any local or central authorities during the terms this leases Deed. Further, Lessee shall pay the electricity, water charges as per the meter to be installed by the Lessee.
5. Usages by Lessee:
a. The Lessee shall use the said premises for Commercial purpose only. The Lessee is entitled to use the said Premises for 24 hours, 365 days in a year subject to applicable laws and the Lessor shall not object to it. The Lessee shall not carry out any offensive or prohibitive business in the said premises.
b. That except as provides herein the lessee can sublet, to his own sister organization of the said premise. It is agreed and acknowledged by Lessor that use of the said premises by this Lease Deed. It is further agreed and acknowledged by parties that this lease shall not stand terminated in the event the Lessee changes its name or is merged with or acquired by any company owned by him.
6. Taxes & Municipal Dues: The Lessee shall observe and perform all the terms and conditions, covenants, agreements and provisions in relation to the said premises and shall pay the discharge all taxes. Cases and other out goings of nature levied by any governmental, municipal or other local or non-observance, non-performance or non-payment thereof Rs. 1000/- p.a. by the Lessee.
7. Termination: This Lease Deed cannot be terminated by lessor at Lessee during the validity period of this Lease Deed. For avoidance of any doubt, it is clarified herein that the Lessor shall not be entitled to terminated this Lease Deed prior to the expiry Date, save and expect on account of any default by the Lessee in payment of the Lease rentals, and such payment default is outstanding for more than 6 months from any due date.
9) Effect of Termination: On the expiration of the Lease, the lessee shall forthwith without any demur remove itself/all occupants and all its/their belongings, articles and things from the said Premises and shall handover vacant and peaceful possession to the Lessor, against receipt of the Security Deposit from the Lessor in terms of Clause [2©] herein above.
10) Indemnification By Lessor: That the LESSOR agrees and acknowledges to indemnify and keep the Lessee fully indemnified and harmless from and against all damages, costs and expenses caused to or incurred by the Lessee as a result of (a) any defect in title of the Lessor which disturbs or interferes with the possession and enjoyment of the said premises; and/or (b) breach of any representation, warranty or covenant on part of the Lessor as detailed in this Lease Deed.
11) Representation and Warranties
The Lessor represents and warrants to the Lessee and declares as under:
(a) That the Lessor is the legal and the beneficial owner of the said Premises, and is accordingly authorized to grant the said Premises on lease to the Lessee, in accordance with the terms and conditions of this Lease Deed;
(b) That the said Premises are free from all encumbrances whatsoever and that the Lessor has not entered into any agreements in any way deposing of or dealing with the said premises or any part thereof/ or the Lessor right, title and interest in the said Premises, in any manner whatsoever.
(c) That the Lessee is authorized to use the said Premises for Guest house/Commercial/Office use, and all necessary permissions and approval of all competent authorities in this regard, have to be obtained by lessee.
(d) That the Lessor has the full right, absolute power and authority to deal with the said Premises upon such terms as he deems fit including by way of Lease upon the terms herein contained.
(e) That the Lessor shall not, until possession of the said Premises is handed over by the lessee according to the terms hereof transfer, alienate or encumber or otherwise howsoever dispose of or deals with the said premises or any part thereof or its rights, title and interests therein without the previous written consent of the Lessee.
(f) The Lessor has full legal capacity and legal right to incur its obligations provided for in this Lease Deed and to execute and deliver this Lease Deed and to perform and observe the terms and conditions set out herein;
(g) The execution, delivery and performance of this Lease Deed have been duly authorized by all necessary action on part of the Lessor.
12. Force Majeure: The Lessor shall not hold the Lessee responsible or liable for any damage to the said premised resulting from riot, earthquake, storm, war, civil disturbances, acts of god and other conditions over which the Lessee shall have no control. Further, in case the said premises or any part thereof at any time during the existence of the Lease, be destroyed or damaged by fire, act of God, riot, war and such like causes not within the control of the parties hereto, the Lessee shall be entitled to terminate the Lease giving notice period seven days to the Lessor in this regard.
13. Transfer of Lessor’s Rights: In case, the Lessor during the Period of this Lease desires to sell mortgage and/or transfer or dispose of its rights in the said premises in favour of any person(s), then it shall do so only after obtaining a prior written consent form the Lessee.
14. Notice: Any notice to be given shall be by registered post acknowledgement due at the address mentioned above or such other address as may be intimated by the parties from time to time.
15. Amendments: No amendments or change here of or addition shall be effective or binding upon any of the parties hereto unless reduced in writing and signed by the parties hereto.
16. Arbitration: Any disputes, difference controversy or claim arising out of or in relation to or in connection with this Lease Deed between the Parties shall be settled by way of arbitration. The said matter shall be referred to a sole arbitrator mutually agreed to by the parties. In the event that the parties fail to agree on the sole arbitrator, each party shall have a right to appoint an arbitrator and the two appointed arbitrators should appoint third arbitrator. The arbitration shall be held in accordance with the terms of the (Indian) Arbitrator and Conciliation Act, 1996. The place of arbitration would be Bhubaneswar and the language of the Arbitration and the final award shall be English. This lease deed and its performance shall be governed and constructed in all respect in accordance with the law of India.
SCHEDULE OF PROPERTY
Dist – Puri, P.S. – Puri Sadar, Mouza - Samang, Tulasi Vihar, Flat No. _____ , ____ Floor, SBA ___ Sqft.
IN WITNESS WHEREOF the parties hereto have hereunto set respective hands the day and year first hereinabove written.
SIGNED AND DELIVERED by Mr. ______
The within named Lessor: Mr. ______
In the presence of following WITNESSES:
1.
2.
SIGNED AND DELIVERED
By Mr. Himansu Sekhar Mishra
Within named Lessee by M/s. MAHODADHI RESORTS LTD.
In Presence of following witnesses:
1.
2.