LEASE AGREEMENT

THIS Lease Deed is made at New Delhi on this ____ day of February, 2013
  
BETWEEN
  


 herein after referred to as the ‘Lessor’, which expression shall unless repugnant to the context or meaning thereof  be deemed to mean and include its successors, assigns of the ONE PART. 
  
AND
  




, hereinafter referred to as the “Lessee” which expression shall unless repugnant to the context or meaning thereof be deemed to mean and include its successors and assigns of the OTHER PART. 
  
Lessor and Lessee hereinafter collectively referred to as “the Parties” and individually referred to as “Party”.

WHEREAS: 
  
A. The Lessor has represented that both are the absolute owner of the commercial property of Shop No.________, on Ground Floor of ___________ Plaza-II, Plot No.____, Sector-_____, Dwarka, New Delhi 110078hereinafter referred to as “Demised Premises”, and they are entitled to and have authority to enter into this lease agreement as contemplated herein and to grant to the Lessee the rights as herein stated.
 
B.    The Lessor have acquired the Shop No.____, on Ground Floor of _____________, Plot No ___, Sector-___, Dwarka, New Delhi 110078 (hereinafter referred to as Developer) 

C.    The Lessee has examined all relevant records relating to ownership of property including Latest Property Tax Receipts, Electricity Bill and maintenance bill.
  
D.         The Lessee is interested in opening an exclusive retail outlet at the Demised Premises for trading and selling of Mobile Phones, Cameras, LCD, Computers etc & related accessories and other electronics items and servicing thereof under the Brand Name of M/S PHONE ZONE or any franchise agreement, arrangement with or agreement / association with companies for selling of branded mobiles and other electronics products and services.

 NOW THIS AGREEMENT WITNESSETH AS FOLLOWS:
 
1. That the Lessor has agreed to grant and the Lessee has agreed to take on lease commercial space bearing ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______ ______  (hereinafter referred to as the “DEMISED PREMISES”).
 
2. The lease shall be ‘Initially’ granted for one term of 6 (Six) years only.

3. That the Lessee shall pay to the Lessor the a monthly  rent of…. - (Rupee … Only) calculated  at Lump Sum of the covered/Super area of the Demised premises in advance by the 10th day of each month. Service tax and other taxes, levies, charges, Cess, etc. as applicable shall be paid over and above by the Lessee to Lessor. The monthly lease rent shall be payable by the Lessee each English Calendar month through cheque/draft payable at New Delhi in favour of  the Lessor. The said rent shall be paid subject to deduction of tax at source.

4. The Lessee shall not sublet, assign or part with the demised premises in whole or a part thereof to any person except his group / associated companies /firms and above mentioned clause D, in any circumstances, whatsoever and the same shall be used for the bona-fide business purposes of the Lessee.
 
5. In case of delay in making payment as aforesaid, the Lessee shall be liable to pay to the Lessor, interest at the rate of 2% per month on the outstanding amount from the first day of that Calendar month till the time of such non-payment. The said rent shall be paid subject to deduction of tax at source. Over and above the rent, Service Tax and any other taxes as applicable from time to time, on such payments and as levied by any government authorities, shall be paid by the Lessee to the Lessor.

6. In case Lessee defaults on timely payments of rent for three consecutive months, the Lessor will be within its right to send a notice of termination of lease agreement and seek vacant possession within 30days from such notice. The Lessee shall be bound to vacate the premises within 90 days period from the date of notice. The Lessor will also be entitled to adjust Security deposit against unpaid rent including notice period. On completion of lease or in case of termination of agreement lessee will provide, hand over and vacate physical premises of property to Lessor. The Lessor will return the security deposit immediately on or before last day of taking the possession of premises without interest to Lessee. 

7. The Lessee shall additionally pay to the Maintenance Agency a monthly maintenance charges on the Super Area of the Demised Premises if applicable. Service tax and other taxes, levies, charges, Cess, etc. as applicable shall be paid over and above by the Lessee directly to maintenance agency. These Maintenance charges shall be applicable for the normal operation timings of the complex and the charges for any utilization by the Lessee of these services for timings over and above the normal operation timings shall be borne by the Lessee separately. These charges may be modified from time to time to ensure that the quality of Maintenance is maintained in the complex. The Lessee shall always pay on time to the maintenance agency directly the cost of electricity, water and other expenses as may be demanded by the Maintenance Agency.

8. The Lessee shall pay to the Lessor an Interest Free  Security Deposit of Rs….. (Rupees Three Lacs Thirty six Thousand Only) equivalent to 3 (Three) months rent. The amount paid by the Lessee as interest free security during the lease period shall be refunded by the Lessor to the Lessee without any interest thereon, upon the Lessee handing peaceful and vacant possession of the Demised Premises whether on expiry or earlier termination of this lease subject to adjustment of any arrears of rent and any other charges/ sums due and payable to the Lessor/ rectification cost of damages if any, within 30 days of the expiry or earlier termination of this lease. 

9. That the aforesaid monthly rent of Rs…… ( only) will be payable by the Lessee for first three years and after the expiry of first three years the said monthly rent will be increased by 15% i.e. Rs…. (only) per month for the next three years.

10. The Lessor shall permit, subject to the Lessee having fulfilled all its obligations under this lease deed, the Lessee’s entry into the Demised Premises for carrying out interior work /fit outs (hereinafter referred to as “Fit Out Period”) like flooring, false ceiling, painting and other activities by the Lessee for a rent free period of 30 days from the date of offer of possession of the premises for fit outs. This possession shall be purely on permissive usage basis for the limited purpose of carrying out fit outs. After 30 days as the case may be, automatically the rent for the premises will start. The Lessee further undertakes to take possession of the Demised Premises within 7 days of receipt of intimation from the Lessor that the Demised Premises is ready for commencing fit outs, failing which the fit out period shall be deemed to have commenced. Thereafter on the expiry of 30 days of fit outs period the Lock in period shall also be deemed to have commenced. Provided further in the event the Lessee meanwhile still does not take the possession of the Demised Premises the Lessor may in its sole discretion terminate this lease deed and forfeit all amounts paid by the Lessee till such time. The Lessee shall be liable to pay for all the amenities/ facilities provided to it during the fit outs period including inter –alia towards usage of electricity and water. 

11. The monthly rent shall become due and payable immediately on the completion of the aforementioned 30 days Rent free fit outs period/ commencement of commercial operations of the Lessee at the Premises, whichever is earlier. The monthly Rent shall be subject to TDS at the applicable rates. The start of commercial operations of the premises shall not be later than the completion of the Rent free period. Provided further that in the event the Lessee does not commence its commercial operations within 30 days of the completion of the Rent free fit outs period, the Lessor may in its sole discretion terminate this lease deed and forfeit all amounts paid by the Lessee till such time. Further in the event of such termination the Lessee shall be liable to pay as liquidated damages the entire rentals, CAM charges and all other charges for the lock in period to the Lessor.

12. The Lessor hereby represents covenants and warrants to Lessee that the demised premises is free from any other encumbrance, lien or charge, mortgage, pledge, claim, encroachment, litigation, governmental action or any such claim or action. There are no adverse claims made by any person, winding-up, liquidation, insolvency or bankruptcy proceeding or any other court proceedings pending against Lessor in respect of the Demised Premises. The Lessor shall at all times, expeditiously attend and settle all/any claims made by any third party in respect of the Demised Premises which are likely to adversely affect the enjoyment of the said premises by the Lessee. The Lessor has neither assigned nor created any third party rights in respect of the said premises in any manner whatsoever.

13. That in the event of any of the representations / warranties made by the Lessor hereunder being found to be false during the first 36 months of the lock in period and  in any manner whatsoever, then, the Lessee shall have an option to terminate this Agreement by giving to the Lessor 90 days advance written notice in that respect, in which case Lessor will refund to Lessee the interest free refundable security deposit paid by Lessee as stated hereinafter without interest thereon. In the event of any claim with regards to possession of the premises made by any Financial Institution including Banks or NBFC’s, during the lock in period of first 36 months period, the Lessor will be responsible for compensating the Lessee towards the cost incurred on interior furnishing. The Lessor would take efforts to avoid and resolve any such situation.  However in the event of default from the LESSOR after the first 36 months lock in period, the Licensor will refund to Lessee only the security deposit amount as aforesaid and in the event of the Lessor failing to refund the security deposit to the Lessee on the Lessee handing over peaceful possession of the premises, the Lessee shall be entitled to use the said premises without any payment of lease rent and in addition the LESSOR shall be liable to pay to Lessee, interest @2% per month on such amount due and payable by LESSOR from the date of offering vacant and peaceful possession of the said premises by the Lessee till the date of such receivables from the Lessor to the Lessee.

14. That in case the Lessor is having an agreement/arrangement with any Bank/Financial Institution for availing financial assistance by mortgaging the demised premises and/ or by arranging the receivables from the demised premises then the Lessee at the request of the Lessor undertakes and agrees to remit the monthly rental directly to the Bank/Financial Institutions. All such payments made by the Lessee to the aforesaid parties shall be deemed good and full payment of the monthly rental to Lessor. 

15. The Lessor shall provide the Demised Premises to the Lessee on ‘as is where is’ basis. The Lessee shall carry out the internal ducting and internal cabling in the Demised Premises at its own cost and expenses.  The Lessee shall ensure that internal air conditioning, cabling and any other finishing work done internally within the Demised Premises shall not expose any fire, electrical, structural, pollution and health hazards to other Lessees / occupants of the said Complex.  The Lessee shall ensure compliance of all the fire & safety norms and shall take all necessary approvals therefore, if required. The Lessor shall assist and co-operate with the Lessee and shall sign all documents and applications necessary in order to obtain all / any necessary permissions/ approvals from any and all statutory bodies, Municipality for the fit-out works, renovation and interior decoration of the Premises as may be required that the Lessee may choose to install as may be permissible in law. The Lessee shall keep the Lessor fully indemnified against any damages direct, indirect or any other losses whether direct, indirect or consequential losses that may be suffered by the Lessor and the Complex as a result of any act or omission of the Lessee or its staff or its representatives. 

16. That the Lessee will conduct only the lawful and permitted Business from the Demised Premises and also conduct any other business with the mutual consent of Lessor and Lessee.

17. The Lessee shall not do or permit to be done any activities which may render void or voidable any insurance, which the Lessor may have taken, relating to or in respect of a part or the whole of the said Plot, the said Building, the said Complex or the Demised Premises. 

18. The Lessee shall not carry on or permit to be carried on in the Demised Premises or in any part thereof any activities which shall be or are likely to be unlawful, obnoxious or of nuisance, annoyance or disturbance to other tenants/ occupants of the Complex. 

19. The Lessee shall not store any goods of hazardous or combustible nature or which are heavy so as to affect the construction or the structure of the Property or any part thereof or in any manner interfere for common use and put the Demised Premises and other part of the Property to risk. 

20. The Lessor shall insure the said premises as per standard fire and special perils policy. In order to cover the risk of collapse of the buildings due to structural defects, the Lessor shall arrange for a Public Liability/ Third Party Liability Insurance.The Lessee shall be responsible and liable for the safety and insurance of the goods, materials, equipments, articles etc. owned by the Lessee which is lying in the demised premises including the staff. 

21. The Lessee agrees and consents that it would have no objection to the Lessor raising finance by way of mortgage/charge of the Demised Premises and the Lessee shall sign documents required, if any. 

22. That if during the term of the Lease Deed, the Demised Premises or any part thereof is acquired or requisitioned by the Government or any local body or authority under any act or rules made there under, the Lessee shall have the right to terminate this lease agreement after giving to the Lessor 30 days advance notice in writing and upon expiry of the period of 30 days aforesaid, the lease shall be terminated. 

23. If the Lessee merges/amalgamates/consolidates or transfer its business with/to any entity on account of any merger/amalgamation/consolidation except with group / associates companies / firms, then a fresh Lease Deed at the discretion of the Lessor, shall be executed between the Lessor and the new entity and all costs, charges, expenses, payable on or in respect of execution and registration of the fresh Lease Deed and on all other instruments and deeds to be executed pursuant to the fresh Lease Deed, shall be borne and paid solely by the Lessee/new entity/transferee. 

24. In the event of the Lessee giving a written notice for termination of the Lease or in the event of non-renewal of the Lease, the Lessor shall be entitled to bring prospective tenants to the Demised Premises for purposes of viewing, after prior intimation to the Lessee. 

25. The Lessee shall not be entitled to make any structural additions/alterations in the demised premises without prior written permission of Lessor. Any temporary works done by the Lessee shall be removed at its own cost on the termination/ expiry of the lease and the Demised Premises shall be handed over after rectifying any defects/damages that may point out by the Lessor.  

26. The Lessee shall, at their own cost, can carry out interior and civil works or such other work as may be required. The Lesse shall be allowed to do the interior work [Furnishing] in the premises during late evenings, night hours, along with permission to stay for the workers. The Lessee shall not cause any damage to the said Complex while completing the interior work in the Demised Premises. 

27. The agents, architects or engineers of the Lessor or the Complex Maintenance Agency may inspect the Demised Premises at any time and the Lessee shall have no objection to it and may suggest for any repair or replacement being necessary for the demised premises which the Lessee must undertake. It is clarified that such inspection shall not transfer any liability upon the Lessor accruing on account of any incomplete, sub-standard, unsafe or dangerous materials / works used / executed in the Demised Premises by the Lessee except permanent structure of premises. The parties shall keep the harmless and fully indemnified to each others in this regard. 

28. The Lessee shall be solely responsible for any loss, damage or injury caused to any property, material or human life that takes place due to any accident etc. which has occurred in the said Demised Premises whether directly or indirectly by way of fire, smoke, flow of water, accidents, thefts, inflammable materials, chemicals and any other materials due to negligence of the Lessee or its employees, except clause no. 27 and shall indemnify all the pecuniary and consequential losses and damages caused to the Lessor / affected persons(s) and shall keep the Lessor harmless and fully indemnified in this regard. The Lessee hereby agrees to indemnify the Lessor for any loss or damages arising to the Lessor due to any act or omission of the Lessee/ its agents/ staff in the premises or in the Mall. The Lessee shall take an appropriate insurance policy to cover all such direct/ indirect/ consequential damages that may be caused.  

29. Notwithstanding anything contained hereinabove, in case of the Premises, or any part thereof, being destroyed or damaged by fire (not caused by any willful act or negligence of the Lessee), earthquake, tempest, riot, strike, flood, lighting, violence of any army or mob or enemies of the country or by any other irresistible force or the orders of any statutory authorities so as to render the Premises unfit for the purpose for which the same was let, or the Premises due to any of the above reasons becomes inaccessible, the Lessee shall have the right to terminate this Lease Agreement without giving any notice to the Lessor.

30. That if the Lessee failing to make the payment of rent and maintenance charges for any month on or before the 10th of such month, the lessor shall communicate to the Lessee in writing about the delay in payment of the lease rent giving 7 days time for the payment and in case despite having communicated in writing there is delay in payment, the Lessee shall pay penalty by way of interest @ 2% per month for the delayed period only. In the event the Lessee still fails to pay the above said outstanding amounts within 15 days along with interest calculated @ 2 % per month, the Lease shall stand automatically terminated. The Lessor shall thereafter be free to deal with the demised premises in any manner deemed fit by it. Notwithstanding anything contained elsewhere in this agreement in case the parties  are represented wrongly or in breach of any of its obligations, the other party shall well be within its right to terminate the lease deed/ lease by serving a defect cure period notice of 30 days. 

31. The both parties shall have the right to terminate the Lease only after the lock-in period by giving 3 (Three) months notice in writing to each other. Provided that in the event the parties desires to terminate the lease during the lock in period it shall pay to the other party the lease rentals, for the entire unexpired duration of the lock in period along with the amount equivalent to 3 months notice period as prescribed hereinabove. 

32. The Lessee shall use high quality certified wiring and electrical accessories, interior display and quality of workmanship in compliance with all electrical, fire and other safety norms and in conformity with Bureau of Indian Standard specifications / codes of practice and/or relevant international standards etc. and shall provide layout / drawings of all concealed wiring, cabling and pipe lines etc. to the Lessor to this effect for emergency calls /needs.  The all items specified hereinabove shall be fitted in the demised premises under the supervision of Lessor. 

33. The Lessee shall comply with all the requirements of laws related to Shops and Establishments Act, Labour Laws, ESIC, Provident Fund etc. and other statutory provisions governing its business in the Premises during the entire Term of lease deed/ lease and for this the Lessor have not any objection to registered the Demised Premises mentioned hereinabove purposes All the staff employed in the Premises operated by the Lessee shall be the employees of the Lessee and the Lessor shall not be liable for any claims/liability arising out of their employment. 

34. That the Lessee shall not, during continuance of the Lease, assign, sub-let, mortgage, grant any license in respect of the Demised Premises or any part thereof to any other party nor shall part with possession of any part or whole thereof under any arrangement whatsoever. In case the Lessee runs the business operations through its Franchisee, the Lessee shall nonetheless always be responsible for all the terms and conditions of this deed. 

35. The Lessee shall not terminate the Lease and vacate the Demised Premises during the Initial Period of 6 (Six) months (hereinafter referred to as the “Lock-in Period”).  In case, the Lessee terminates the lease of the Demised Premises prior to the expiry of aforesaid Lock-in Period, then the Lessee shall be liable to pay the rent and all other charges for the balance/unexpired lock-in-period to the Lessor along with the rentals, CAM charges and all other charges for the 3 months notice period prescribed in terms of this lease deed. The Lessor shall re-enter and take possession of the demised premises without prejudice to its other rights / remedies available as per laws of the land.  In the event of non-payment of the rent, CAM charges and all other charges for the balance lock-in period, the Lessor shall have an automatic lien and right of sale over all the stocks, goods and merchandise, equipments, furniture & fixtures, other movable properties etc. of the Lessee in the Demised Premises, in addition to its right to recover the rent, CAM charges and all other charges for the balance lock-in period. 

36. That the Lessee will vacate and hand over the vacant physical possession of said premises to the LESSOR on expiry of tenancy period failing which the Lessee shall be liable to pay a penalty amount of Rs…. (Rupees ….ONLY) per day besides the monthly rental amount.{And this depends on the lessor}

37. That the house tax, ground rent etc. in respect of the said property will be paid by the LESSOR.

38. That the Lessor shall pay all the present property related taxes in respect of the Demised Premises. Service Tax or any other Taxes, levied by any authority/(ies) relating to the business/ nature of the business of the Lessee will be paid by the Lessee. 

39. Stamp duty, legal charges and registration charges of the Lease Deed or any other documents relating to the lease of the Demises Premises shall be borne by the Lessee and Lessor in equal ratio. 

40. The Lessee shall execute the Lease Deed within 15 days from the date of receiving notice from the Lessor to do so or any other appropriate date mutually decided by both parties., 

41. The Lessor and the Lessee shall not be responsible or liable for not performing any of its obligations or representations provided for in this lease deed if such performance is prevented, delayed or hindered by an act of God. 

42. That if the Lessor at any time during the period of Lease sells and/or transfers its rights in the demised premises as a whole or in part thereof to any person or more than one person then in that event the Lessee shall have no objection in this regard and the Lessee shall attorney to such transferee or transferees. The Lessee will start to pay the rent to new Lessor and all the expenses of the new Agreement with new Lessor will be bourn by new Lessor only. 

43. Electricity - The Lessor shall provide power load of 8 KW Single Phase in the demised premises.  However, additional load, if required, shall be provided by the Lessor at extra cost.              

44. Any dispute or difference arising between the parties shall be resolved amicably at the first instance. Unresolved disputes, controversies, contests, disputes, if any, shall be submitted to arbitration. The arbitration shall be conducted in accordance with the Provisions of the Arbitration and Conciliation Act, 1996 along with the rules framed there under and any amendments thereto by a sole arbitrator appointed by the Lessor and lessee. The arbitration shall be conducted in English. The decision / award of the arbitrator shall be final / conclusive and binding on the parties. The seat of arbitration shall be at New Delhi. 


45. That the Courts at New Delhi alone shall have jurisdiction in respect of all matters or disputes or differences arising hereunder or in connection with or in relation to this Lease Deed. 

46. That the Lessee shall be responsible for its telephone charges, communications lease lines obtained from BSNL/ VSNL or any other concerned authority and indemnify the Lessor against any payment / charges / bills/ demands for the tenure of this lease.  

47. The parties hereto shall bear their own legal charges and out of pocket expenses incurred in this regard and only the stamp duty and registration charges on this documents shall be borne and paid by the Lessee and Lessor in equal ratio.

48. The Lessee shall acknowledge, pay and give valid receipts of all electrical, water consummation bills for each and every payment made, if any, by the Lessee to the lessor in respect of the usage of the demised premises along with copy of such bill when received. Lessee shall consume sanctioned electrical load only and be responsible to adhere the Govt bye laws and damage to electric Meter.  Lessor will get  enhanced electrical load approvals from government agencies at his own cost in case the load as desirable by the Lessee of approx 7 KVA  if not present in the demised premises.

IN WITNESS WHEREOF the Parties hereto have executed this lease deed on this _______ day of 
  
WITNESSES:-
1.
LESSOR



LESSEE
2.


 
REGISTRATION PERFORMA
DELHI REGISTRATION INFORMATION SYSTEM (DORIS)
SUB-REGISTRAR OFFICE

Registration No. TEMP Regn. No.__________
Dated:-__/__/_______
(to be allotted by Computer)            S.R. Receipt No.__________
                                        (For Office Use Only)
PLEASE FILL IN CAPITAL LETTERS:
______________________________________________________________________1.   Name of Deed                        LEASE DEED /RENT AGREEMENT
______________________________________________________________________
2.   Property Details         


     Property Type (Agr./Resi./Commr./other):   

     Village/Locality Name    :       
     (where property is located:
     Khewat No.     :              

     Mustatil No.   :             

     House/Plot No. :             

     Structure Type :              
     (House, Plot, Shop):

     Sub Structure                 
     (First Floor, Second Floor etc.)

     Area   :     
______________________________________________________________________
3(i).Transaction Amt.(Rs.) __________ Stamp Duty@ ___% Rs._________ ______________________________________________________________________
(ii). Lease Deed:- Avg.Rent Rs. ….Stamp Duty@ .. Rs….

      Lease Period in MONTHS   Security Amount Rs…..
______________________________________________________________________
4.   Stamp No.                                    dt.                         Stamp Duty Paid Rs….
______________________________________________________________________
5.   No. of Pages ______________________________________________________________________
 
6. FIRST PARTY DETAIL: (Vendor/Transferor/Mortgagor/Donor/ Lessor, etc.)
______________________________________________________________________
      Name            Father/Husband      Address    I.D. Type & No.

1.



______________________________________________________________________7. SECOND PARTY DETAIL: (Vendee/Transferee/Mortgagee/Donee/ Lessee, etc.)
______________________________________________________________________
      Name            Father/Husband      Address    I.D. Type & No.

1.
 

______________________________________________________________________8.    WITNESSES:-
______________________________________________________________________      Name            Father/Husband      Address    I.D. Type & No.

1.






2.






______________________________________________________________________


Signature of DOCUMENT WRITER:                S.R.

Signature of FIRST PARTY     :                ___________________

Signature of SECOND PARTY    :                _____________________   


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