Lease Agreement

LEASE AGREEMENT

        This Lease Agreement is made and executed on this the ___ day of __________ at ___________ by and between: -

____________ S/o W/o D/o ___________ Aged about ___ years, Occupation _________ R/o H.No. ___________________________ 

(Hereinafter referred to as LESSEE which term shall mean and include his/her legal hires, successors, administrators, executors of the ONE PART)

                                        IN FAVOUR OF

_____________ S/o W/o D/o ___________ Aged about ___ years, Occupation ________ R/o H.No. ____________________________

(Hereinafter referred to as LESSOR which term shall mean and include his/her legal hires, successors, administrators executors of the OTHER PART)

       WHEREAS, the Lessor being an absolute owner of the Property _______________________________________________________ agreed to let out the Schedule Property to the Lessor on certain mutually agreed terms and conditions.

       AND WHEREAS, the Lessee duly accepted the terms of lease agreed to executed the lease agreement accordingly.

       THUS, both the parties have mutually decided to reduce the terms of lease agreement into writing with an intention to avoid future possible dispute among Lessor and Lessee.

NOW THEREFORE THIS LEASE AGREEMENT WITNESSES AS FOLLOWS

1.    That this Lease shall be commenced from the date of its execution and it will be for a period of ______ commencing from _________.

2.    That the Lessee has paid Rs. _______/- (Rupees ______________ Only) as Security Deposit which shall be returnable to Lessee at the time of vacating the premises after deducting of balance rent, damage if any and pending bills of electricity and the said deposit does not carry any interest.

3.    That the Lessee shall pay the rent of Rs. _______/- (Rupees _______________ Only) to the Lessor upto _______ and thereafter a hike of @ 10% per annum.

4.    That the Lessee shall be liable to pay Electricity Charges, Municipal Taxes, Water Charges and Maintenance Charges. Hence Lessor accept no liability for such payment in any manner whatsoever.

5.    That the Lessee shall use the schedule property for the purpose of ___________ and he/she shall not be authorized to sub-let the schedule property either wholly or part thereof to any other party on any terms and conditions whatsoever.

6.    That the Lessee shall keep the property neat and clean and it would be opened the Lessor for inspection at all reasonable time.

7.    That the notice period for termination of tenancy (03) months is sufficient from either side.

8.    That the Lessee shall not be authorized to alter, modify and change the structure for the purpose of business activities, any how temporary alteration, modification and renovation can be effected at the cost of the Lessee with prior permission of the Lessor, hence Lessor accept no liability of such expenditure.

9.    That the renewal of tenancy shall be made with the written consent of the Lessor duly executed fresh agreement in then fact and circumstances.

10.  That the Lessee shall hand over the peaceful possession of the schedule property on termination of Lease duly settled the accounts to the Lessor.

Scheduled of property

All that the _______________________________ bounded by:-

north         :          ____________.

south         :          ____________.

east            :          ____________.

west           :          ____________.

IN WITNESSES WHEREOF the Lessor and the Lessee executed this Lease Agreement on the day and place mentioned above in the presence of the following witnesses.

WITNESSES:

1.                                                             LESSOR

  

2.                                                             LESSEE