LEASE DEED

THIS LEASE DEED is made and executed at Delhi on ………(Date)

BETWEEN
Smt. Sudarshan Kaur W/o Sh. Paramjit Singh R/o H. No. M-170, Greater
Kailash-II, New
Delhi hereinafter referred to as the LESSOR, which expression shall unless
excluded or repugnant to the context to be deemed to include legal heirs
i.e. Mr. Paramjit Singh, Husband of Lessor herein, successors, executors,
administrators, representatives and assigns of the FIRST PART.
AND
M/s. Dave Thomson Associates (India) Pvt. Ltd. having its registered office
at Satyug-Villa1 Floor, 5, Gurunanak Nagar off Shankarshet Road, Pune
through, their Director Mr. H. R. Srinivas to enter into these presences
hereinafter referred to as the LESSEE which expression unless excuded or
repugnant to the context shall include and mean, successors, successors
in interest and assigns of the SECOND PART.
WHEREAS the Lessor has represented to the Lessee that she is the
owner/landlady of the Basement portion of the construction at M-170,
Greater Kailash-II, New Delhi admeasuring 760 Sq. ft. approximate
covered area in the said premises and is desirous of letting out the same,
hereinafter referred to as the demised premises. AND WHEREAS the
Lessee has offered to take the demised premises on Lease and the Lessor
has agreed to let out the same on the terms and conditions hareinafter
specified.
NOW THIS AGREEMENT WITNESSETH AS UNDER:
1. That the Lessor hereby conveys to the Lessee the basement portion of
the said premises admeasuring 760 Sq. ft. Approx for a period of 24
months with effect from 1 Sept. 1993 at a monthly, rent of Rs. 4000/- (Rs.
Four thousand only) exclusive of Electricity, water charges, actual bills/
rental charges of Telephone/Fax whenever installed in the demises
premises.
2. That the Lease will be for an initial period of 24 months with effect from
1s Sept. 1993, in case the Lease is reminded at the option of the Lessor
and with an enhances increase of 10% of rent payable per annum
immediately after expire of every 12 months period. The duration of Lease
period 24 months is the essence of this agreement with the provision that
both, the Lessor and the Lessee have the right to either terminate the
Lease even before the expiry of the Lease period, by giving 3 months
written notice. The Lease is therefore for a fixed period of 24 months w.e.f.
1 Sept. 1993 ending on 31 Aug. 1995 there after the Lessor shall have the
option to renew the Lease for a further period of 2 years at the terms and
conditions as laid out by the Lessor.
3. That on the date of execution of this Lease Deed the Lessee had paid a
sum of Rs. 36000/- (Rs.ThirtySixThousandonly)videpayorder
No._______________________
dated________________
drawn on……….as security deposit which will be kept by the Lessor for the
due performance of the terms and conditions of this Lease, free of interest.
On termination of the Lease, the Lessor shall refund the security
deposit/unadjusted Advance rent, if any. In case the Lessor fails to refund
the security Deposit/balance advance rent, the Lessee shall be entitled to
charge interest 21% P.A. from the date of termination of Lease till the date
of refund. Aditionally, the Lessee shall be entitled to hold possession of the
property till the refund of security deposit/unadjusted advance rent
alongwith interest, if any is made without payment of rent/Lease money.
This will be applicable only on production of documentary proof by the
Lessee to the Lessor that all dues pertiaining to electricity and any other
charges payable by the Lessee have been cleared upto date.
4. The Lessee covenants with Lessor as under :
i)
ii)
That the Lessee agrees to pay a monthly rent of Rs. 4000/- (Rs. Four
thousand only) mentioned above on or before 7th day of every month.
The Lessee agree to carry out minor repairs or replacement of broken parts
in electrical and sanitary installations and glasses himself, but major repairs
pertaining to the structure of the house will have to be done by the Lessor,
as and when considered necessary by him. However, the Lessee shall
handover the vacant physical possession to the Lessor on termination of
this Lease in the same conditions as it has been handed over to him on 1-
9-93. That the Lease is for a period of 24 months only commencing from 1-
9-93. The Lessee shall give vacant possession of the premises to the
Lessor after the expiry of the Lease period.
That the Lessee shall duly comply with all the local rules and regulations of
local authorities with regard to the use of the premises.
That the Lessee shall pay the electricity charges in accordance with the
bills at rates determined by DESU and accordance with bills/demands
received from DESU, NDMC including meter rents etc. The meter readings
on the date of possession will be duly recorded.
That the demised premises have been let out to the Lessee for authorised
use only.
That the Lessee shall permit the Lessor or his duly authorised agents
during reasonable hours in the day time to enter upon the demised
premises for inspection of the Lessor‟s fixtures and fittings therein, and the
premises as may be deemed fit by the Lessor.
viii) That the Lessee at the expiry of this Lease shall deliver peaceful and
vacant possession of the demised premises to the Lessor together with the
fittings and fixtures installed in good condition as the same are at present,
reasonable wear and tear and damage by fire, earthquake, civil commotion,
act of God excepted including lightening to fittings etc. but excluding
telephones, fax computers and air conditioners. No fixtures, wood work
etc. carried by the Lessee shall be removed/damaged at the time ofhanding
over vacant possession of the demised premises.
ix)
x)
xi)
That the Lessee shall not make any8 alteration of permanent nature within
the premises as well as in the open space, without the written consent of
the Lessor.That the Lessor shall not interfere with the peaceful enjoyment
of the property by the Lessee whether directly on indirectly. That the
Lessee shall keep the premises in good tenantable condition and shall not
cause any loss/ damage to it, subject to normal wear and tear of the
premises.The Lessee shall observe and perform at all time during the
continuance of the terms hereby created all the terms and conditions herein
as contained.
xii) That the Lessee shall in the event of unfortunate and unseen demise or
incapacitation of Lessor will for all purposes treat Mr. Paramjit Singh,
Husband of Lessor as the rightful receipt of rents or anyother dues payable
by the Lessee as per the terms set forth above in this deed without any let
or hinderances. The said Mr. Paramjit Singh will have the full authority to
enforce any or all provisions contained in this agreement. He shall by my
sole beneficiary and executor.
xiii) That the Lessee will not park any motor car or any other vehicle in this
outer drive way of the premises at any time both inside and outside the
main gate.
5. That the Lessor hereby covenants with Lessee as follow:-
i)
ii)
That the Lessor has good right and full power and absolute authority to
Lease the demised premises to the Lessee in manner herein contained.
To observe and perform t all times during the continuance of their terms
hereby created, all the terms and conditions contained in the Lease by
virtue of which the Lessor is holding the said premises and to keep the
Lessee indeminified against any breach or consequences thereof. To pay
discharge all rates and taxes whether Municipal or otherwise and to
herassessments and outgoing which pare payable in respect of Lessor
failing to pay any such amount when the same shall fall due for payment,
the Lessee shall be entitled to pay the same on behalf of the Lessor and to
deduct the amount so paid from the rent payable by the Lessee to the
Lessor hereunder. To comply with, at his own cost, all requirements and
regulations of the Municipals or other lawful authority concerning the
demised premises to the observed by the owner/landlady.
v)That the Lessee paying the Lease money hereby reserved and
performing the several covenants conditions and agreements herein
contained and on its part to be observed and performed, the Lessee shall
peaceably hold and enjoy the demised premises together with the Lessor
fixtures and fittings therein during the said terms without any interruption or
disturbance from or by the Lessor or any person claiming through under or
in trust for the Lessor. In the event of the demised premises or any part
thereof being destroyed or damaged by fire, earth quake, flood war air raid
civil commotion, roits or other act of God or irrestible force during the period
of the Lease, this Lease shall at the option of the Lessee be terminated.
And in the event of the Lessee being desirous of any part thereof as the
case may be so as to enable the Lessor to repair the damage or reinstate
the same and the rents hereby reserved shall remain suspended till the
demised premises or any part thereof as the case may be reinstated or
restored to its former state and possession if delivered over to the Lessee
for the remaining part of this Lease, if any. That in the event of any dispute
or difference arising out of this agreement, the matter will be referred to the
Arbitrator apporved by common consent of both the parties and his
decision will be binding on both parties. That the parties to the agreement
have specifically agreed that considering the location, accommodation, and
condition of the said property, the Lease rent is fair rent and in consonance
with the property, market rates. That the terms and conditions of this
agreement as stated above shall be binding on both the parties. If the rents
or other amounts due under the Lease deed or any part thereof shall
remain unpaid for more than one month and if any covenant on the
Lessee‟s part herein contained shall not be performed or observed by the
Lessee and shall continue to do so for the period of 30 days after written
notice by the Lessor thereof to the Lessee then and in any of the said
cases it shall be lawful for the Lessor to renter the demised premises or
upon any part thereof in the name of the whole and the Lease shall
thereupon be terminated, but without prejudice to any claim or action or
remedy which either of the parties may have against the other as on that
date in respect of any branch, non-performance or non-observance of the
covenants or conditions herein contained.
The Lease shall automatically come to an and determined on the expiry of
the Lease period. Hence peaceful and vacant possession of the demised
premises will be deemed to have been handed over by the Lessee to the
Lessor. The cost of preparation of the original Lease and duplicate thereof
and stamps and registration fee and in connection with the same shall be
borne and paid by the Lessee. The Lessor shall retain the original of the
Lease deed and the Lessee the duplicate thereof.