LEASE AGREEMENT
This Agreement of Lease
made at ...............on .......................... day of...............................
Between
Mr. ................................., Age: ....................., Occ: ...................., R/o ................................, (hereinafter
Called the “Leaser”) Which expression shall unless repugnant to the context or
Meaning thereof be deemed to include his successors, heirs, executors,
Administrators and assigns of the ONE PART.
And
............................. A Company registered under the Companies Act,
1956, having its registered office at ...............................................................
and Branch office at as
per above.(hereinafter collectively referred to as the “Lessee”) which
expression shall, unless repugnant to the context or meaning thereof, be deemed
to include its Successors in business and permitted assigns of the OTHER PART.
WHEREAS
1) The
Leaser absolutely owns and possesses premises admeasuring about ..................... Sq Ft. AT .......................... (hereinafter referred to as “the demised premises “
and more particularly described in the Schedule l written hereunder);
2) The
Lessee is engaged in the business manufacturing , marketing and retail/
wholesale trade of F.M.C.G , Grocery, Garments, Consumer Durables, Electronics,
footwear, stationary, game zone and other related products and rendering crop advisory services, soil and
water testing services, door-delivery of product etc.(hereinafter collectively
referred as “the said products and services”); The name and style of “ N- mart
retails “ for the supply of the said products
and services in and around(…..place…).
3) The
Leaser is desirous of giving the demised premises on lease and accordingly,
approached and requested the Lessee to take the same on Lessee.
4) The
Leaser has agreed to give and the lessee has agreed to take, the demised
premises on lease basis for a period of 5 (Five) years to set up commercial
premises in the name and style of “ retails “on the following terms and
conditions agreed upon.
NOW IT IS AGREED BY AND BETWEEN THE
PARTIES HEREAS FOLLOWING;
1.LEASER
i.
The Leaser being the sole owner has in
himself good right, full power and
Absolute authority to demise unto the
Lessee the demised premises (CONFIRM)
ii.
The lessee declares that the demised
premises comprising of the building structure has been constructed in
accordance with approved plan of the Local authorities and shall submit copy of
completion certificate to that effect to the lessee within a period of 30 days
from the date of occupation.
iii. The Leaser grants permission exclusively
to the lessee to use the demised premises for setting up their “N-mart retails
“ shop and for any other business and official purpose and do all other acts,
deeds and things as may be necessary for accomplishment of their objectives.
iv.
The Leaser shall carry out such
structural additions and / or alterations in the demised premises while handing
over the possession of the demised premises and / or put any additional
structures in the demised premises as may be required by the lessee from time
to time.
v.
The Leaser undertakes to repair and
maintain the interiors, furniture’s and fixtures (more particularly described
in the Schedule ll written hereunder) at his own cost during the period of
lease.
vi.
The Leaser agrees to arrange and provide
at his own cost electricity and water facilities, telecommunications, parking
space etc. necessary for setting up “N-mart retails” shop. The Leaser shall
provide a connected power load of 10 KVA(as per actual requirement) with a
separate 3-phase meter for the exclusive usage of the lessee.
vii.
The lessee undertakes to pay all future
taxes, fees, dues and duties in respect of the demised premises payable to any
Government or municipal authority and ensure the regular maintenance and
repairs of the demised premises during the tenure of this agreement at his own
cost and the Lessee shall have no responsibility whatsoever in this
regard.
viii.
The Leaser shall allow the peaceful
enjoyment of the demised premises during the period of lease without any
eviction, interruption, disturbance, claim and demand whatsoever by the Leaser
or any other person or persons lawfully or equitably claim
ix.
The Leaser agrees to build
and maintain at his own cost a road from the nearest public road to “
retails “ shop for easy accessibility.
x.
The Leaser agrees to fence
off the demised premises at his own cost from adjoining of land or buildings
and to keep the fence in good repairs and condition.
xi.
The Leaser during the term of this
agreement shall not compel the Lessee to vacate the demised premises before the
tenure of this agreement. In case of sale of the demised premises by the Leaser
during the tenure of this agreement and/or any renewal thereof, the terms and
conditions of this agreement shall be equally binding on the purchaser of the
demised premises and Lessee shall not be compelled to vacate the demised
premises.
xii.
The Leaser shall not prohibit the lessee
from subletting or assigning the demised premises to any of its business
associates or group and / or subsidiary companies as may be required.
xiii.
The Leaser shall authorize lessee to
install and / or affix all necessary signage and advertisement boards at the
demised premises for setting up the “ retails” shop and shall extend all
necessary co-operation and help for the same. It is expressly agreed between
the parties that the Leaser shall not put any signage and/or the agreement
including any renewal thereof.
xiv.
The Leaser shall indemnify and keep
indemnified lessee against all actions that may be initiated and losses and
damages that may be suffered due to any reasons attributable on the part of
Leaser.
xv.
The Leaser shall grant pre-emptive right
(right to purchase in priority over others) to the lessee in the event of sale
of the demised premised premises during the duration of lease or renewed term
or on its determination, whichever is earlier.
2.
LESSEE:
i.
The lessee shall use the demised
premises for the purpose of setting up Complete Solution Provider Shop under
the name and style “N-mart retails” or for any other official purpose and to do
all other act, deeds and things as may be necessary for the said purpose.
ii.
The Lessee shall allow the Leaser to
enter the demised premises during office hours for inspection by previous
intimation oral or in writing to the lessee or their officials/representatives.
iii.
The Lessee shall keep and use the
demised premises without causing any damage thereto and in the event of any
damage shall make good the same forthwith (normal wear and tear excepted).
iv.
The Lessee shall pay monthly rent in
respect of the demised premises on or before 15th day of each month
to the Leaser.
v.
The lessee will carry out any additions
or alterations in the interior designs in the demised premises as may be
required from time to time.
vi.
The Lessee alone shall be responsible
for obtaining all applicable licenses and permissions, as may be required from
Government Authorities for setting up “N-mart retails” shop at the demised
premises. At no point of time Leaser shall be responsible for the same.
vii.
The Lessee shall take utmost care for
storage of the said products at the demised premises and shall ensure that the
demised premises shall not be damaged on account of the same.
viii.
To hand over vacant possession of the
demised premises to the Leaser on expiry of this Agreement or earlier
termination, after clearing all dues, if any, in the same condition as they
were at the commencement of the Lease (normal wear and tear excepted).
ix.
All permissions, approvals, authorities
and notification required to be given by the company under this agreement shall
be issued and signed.
3.
DURATION:
The permission to let the demised
premises on lease shall be only for a period of 5(five) years from the date
hereof. The lease Agreement shall be renewed for further period as may be
agreed on the terms and conditions to be mutually agreed between both the
parties
4.
LEASE
RENT:
i)
During the period of the lease, the
Lessee shall pay to the Leaser a monthly rent of Rs(4000/-) (Rupees Four
Thousand Only) on chargeable area of .................. sq ft of ground floor, (CONFIRM) of
the demised premises subject to deduction of taxes as compensation for the use
of the demised premises, to be paid on or before 15th of every month.
The payment of monthly lease shall start from the date of completion of
rent-free period as mentioned herein below or from the date of start of
commercial operations at the demised premises, whichever is earlier. Rent free
period will start after hand over of premises completed as per MOU. Further
lessor agreed that Rs 50000/-(fifty thousand rupees only ) has received towards
as deposit amount.
ii)
It is agreed between both the parties
that Lessee shall pay telecommunication costs, electricity bills on actual
basis for the entire lease period.
iii)
Further it is expressly agreed between
the parties that the aforesaid lease rent shall be subject to 12% escalation at
the end of every 3 (three) years.
iv)
Further it is agreed between both the
parties that Leaser shall grant the Lessee a fit-out (rent free period) of 90days
commencing from the date of occupation of the demised premises.
5.
Termination / sooner Determination:
i)
The period of 3 (three) years from the
date of execution of this Lease agreement shall be the “lock-in period”. During
this lock-in period Leaser shall not terminate or cancel this agreement.
ii)
The Lessee may terminate this agreement even
before completion of lock in period by giving three months notice to the Leaser
of its intention to terminate the agreement.
6.
It is expressly agreed between the
parties that the expression Leaser shall be deemed to include his administrators
and successors and this agreement shall be binding on them.
7.
AMENDMENTS:
The
amendments in any of the clauses to the Agreement shall be agreed to by both
the parties in writing and the amended clauses/s shall have the effect from the
date of such Agreement between the parties for such amendments.
8.
TWO
SETS:
This
Agreement shall be prepared in 2 (two sets). The Leaser shall retain one set
and the Lessee shall retain the other.
9.
NOTICE
The
address of the parties for the purpose of sending notice and communication are
as under:
Leaser: Mr. ...................................., R/o ..........................
Lessee: .................................................
Notices and communications shall be
sent by way of Registered Post Acknowledgement Due. Each party shall intimate
the others in writing of any change in the aforesaid address and other
information.
10. ARBITRATION:
Any
dispute or difference arising out of this Agreement shall be referred to a sole
Arbitrator appointed by the Lessee in accordance with the provisions of
Arbitration and Conciliation Act, 1996 and the decision of such Arbitrator
shall be final and binding on both the parties. The venue of such proceedings
shall be at .....................................
11. This
agreement shall supersede any previous understandings or agreements reached
between the Leaser and Lessee in this regard.
SCHEDULE
1
(Referred
hereinabove)
DESCRIPTION
OF DEMISED PREMISES
All
that piece of land situated at bearing ..........................sq.ft
constructed and (Confirmed) surrounded by
East: .
West: .
North: Road
South: .
SCHEDULE II
(Referred hereinabove)
List
of furniture, fixtures agreed to be provided by the Leaser as per the
requirements of the Lessee as per Clause 1(iv)
Please
confirm the content of this schedule
1) Electricity power as per Lessee's requirement
to be provided by the leaser. Lessee
will not pay any deposit or expense for electricity.
2) Glass work to be done by Leaser, toughened
glass for doors and rest 12 mm plain glass
3) Colour work to be done by Leaser (Asian
paints beauty emulsion, green colour code x 153)
4) Complete flooring with cream coloured
vitrified tiles
5) Electrical points to be provided by Leaser
6) Leaser
will provide building completion certificate and corporation approved layout
plan.
7) If there were any previous tenant than
documents showing cancellation of shop establishment and food, fire, labour
dept, will be provided by leaser.
8) Rent will be paid only after completion of
month and not in advance
9) Water, electricity charges, or any govt taxes
before handover of premise has to be borne by the leaser and copy of receipt of
due payments paid has to be given to lessee on possession
10) all fire equipments like water pipeline,
sprinklers, smoke detector etc to be installed by leaser
11) permission to use frontal area for any
activity like sub rental to food joints, sale for scheme products, special
displays, canopies, kiddie rides etc to be given by Leaser
12) All legal documentation i.e. Rent agreement
notarization or registry expense will be borne by both the parties in ratio of
50:50.
IN WITNESS
WHEREOF the parties have put their hands the day and the year first herein
above written.
SIGNED AND DELIVERED BY THE
(a)
WITHIN NAME M/S ................................
Through their constituted
attorneys
........................R/o...................
Witness:
Signature: ________________
1.
Name:________________________
Signature: ________________
2.
Name:________________________
SIGNED AND DELIVERED BY THE
WITHIN NAMED Mr. ..................................., R/o ...........................
.
Witness:
Signature: ________________
1.
Name:________________________
Signature: ________________
2.
Name:________________________
