LEASE AGREEMENT
This DEED OF RENTAL AGREEMENT EXECUTED AT CHENNAI
ON 1ST MAY 2009 between
[FIRST PARTY NAME] S/o. [NAME] aged about 57 years who is
the absolute owner of the Building bearing [ADDRESS] hereafter
called the First Part of the ONE PART.
AND
[SECOND PARTY NAME] S/o. [NAME] [ADDRESS]. Hereafter
called THE SECOND PARTY OF OTHER PART WITNESSETH as
follows.
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Whereas THE PREMISES – [PLACE ADDRESS] is absolutely
owned by the FIRST PARTY herein and,
WHERE AS THE SECOND PARTY approached the FIRST PARTY
and requested him to let out the above said premises on
monthly rent for residing purpose, the FIRST PARTY agreed to
let out the above said premises under the terms and conditions
hereinafter stated:-
1. The tenancy shall begin from 01.05.2009 and shall before a
duration of 11 months i.e. 01.05.2009 to 31.03.2010.
2. The monthly rent shall be Rs.3400/- Per Month and payable
by the SECOND PARTY during the course of FIRST WEEK
of every month.
3. The FIRST PARTY acknowledges the receipt of Rs.25000/-
(Rupees Twenty Five Thousand Only) paid by the SECOND
PARTY in cash on signing of the rental agreement. This
amount shall be treated as deposit by the FIRST PARTY
and shall be returned to the SECOND PARTY on his
vacation of the premises, after deducting all the amounts
due and payable if any by the SECOND PARTY to the
FIRST PARTY on the date of the vacation of the premises
by the SECOND PARTY. This amount dies not carry any
interest.
4. The SECOND PARTY further agrees to use the premises for
his own residing purpose only and shall not sublet the
same or assign his rights of tenancy to third parties
without written permission from the FIRST PARTY.
5. The SECOND PARTY further agrees to bear the charges
connected with the electricity consumes by him and also
water charges etc. and agrees to pay the same along with
the monthly rent on monthly basis.
6. The SECOND PARTY shall not make any structural
alteration to the premises or put up partition wall etc.
without written permission from the FIRST PARTY and
shall use the premises prudently without causing damage
or deterioration to the building and hand over the premises
at the expiry of the lease period to the FIRST PARTY and
receive back the deposit amount Rs.25000/- (Rupees
Twenty Five Thousand Only) after due deductions of the
money due and payable if any be the SECOND PARTY.
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7. It is definitely understood between the parties under this
contact that irrespective of the time stipulated under this
lease agreement, if the SECOND PARTY commits, default
in paying the monthly rent for continuous period of three
months, the FIRST PARTY is at liberty to terminate the
RENTAL AGREEMENT unilaterally without giving notice to
the SECOND PARTY and resume possession of the
premises and return the deposit amount without interest
after deduction of amounts due and payable by the
SECOND PARTY including all the damages and other
expenses sustained by the FIRST PARTY in getting the
vacant possession of the premises.
8. The SECOND PARTY shall enjoy the peaceful occupation
of the premises and maintain the same in reasonable good
the habitable condition.
9. In case, the SECOND PARTY desires to vacate the
premises he should give notice of THREE calendar month
in writing and similarly the FIRST PARTY should five
THREE Month notice in writing.
10. In all matters where specific provision has not been made
herein, the provisions of Transfer of Property act shall
apply.
11. The owner will have right to enter the let out built in area
for verification or inspection of this structure at
reasonable times and carry out repairs in necessary.
SCHEDULE
The above – Ground Floor approximately of plinth are 950
Sq.Ft. bearing [PLACE ADDRESS]
THE PARTY OF THE FIRST PART
THE PARTY OF THE SECOND PART
