Commercial Lease / Lease for Office Premises - Form
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LEASE DEED
This lease deed ("Deed") is made at ________, Andaman and Nicobar Islands on ________ by and between:
________ residing at ________ (hereinafter referred to as "Lessor" which expression shall mean and include its legal heirs, administrators and permitted assigns) of the FIRST PART
AND
________ residing at ________ (hereinafter referred to as "Lessee" which expression shall mean and include its legal heirs, administrators and permitted assigns) of the SECOND PART
(Lessor and Lessee are hereinafter individually referred to as 'Party' and collectively as 'Parties')
WHEREAS:
A. The Lessor is the owner and in physical possession of the property located at:
________ (hereinafter called the "Leased Premises") along with the existing fixtures and fittings.
B. Lessee had approached the Lessor for a grant of lease in respect of the Leased Premises and the Lessor has agreed to lease out the same to the Lessee.
C. The Lessor and the Lessee are now desirous of executing this Lease Deed to record the terms and conditions governing the lease of the Leased Premises as set forth hereinafter.
NOW THEREFORE THIS AGREEMENT WITNESSETH AND IT IS AGREED BY AND BETWEEN THE PARTIES HERETO AS UNDER:
1. DEFINITIONS AND INTERPRETATION
1.1. In this Deed, unless the context otherwise requires, the following rules of interpretation shall apply:
1.1.1. Words referring to one gender include every other gender.
1.1.2. Words referring to a singular number include the plural, and words referring to a plural include the singular.
1.1.3. Words referring to a person or persons include companies, firms, corporations, organisations and vice versa.
1.1.4. Headings and titles are included in this Agreement for convenience only and shall not affect the interpretation of this Agreement.
1.1.5. Each Party must, at its own expense, take all reasonable steps and do all that is reasonably necessary to give full effect to this Agreement and the events contemplated by it.
1.1.6. Any obligation on a Party not to do something includes an obligation not to allow that thing to be done.
2. GRANT OF LEASE
The Lessor hereby grants to the Lessee, the right to enter into and use and remain in the Leased Premises along with the existing fixtures and fittings and that the Lessee shall be entitled to peacefully possess, and enjoy possession of the Leased Premises, and the other rights granted herein.
3. PURPOSE
3.1. The Lessee shall use the Leased Premises only for the following purpose:
________
3.2. The Leased Premises shall be exclusively used by the Lessee. The Leased Premises shall not be used for any purposes other than as specified above including residential purposes. The Lessee shall not use the Leased Premises for any unlawful purposes and shall forthwith notify the Lessor if it becomes aware of any illegal activities being conducted on the Leased Premises. The Lessee will not store or allow to be stored on the Leased Premises any objectionable items prohibited by any law in force during the Lease Period.
4. LEASE RENT
4.1. The Lessee has agreed to pay the rent of Rs. ________ (________) in advance on or before 1st (first) day of each calendar month by account payee cheque.
4.2. In the event of delay in the payment of rent by the Lessee, interest at the rate of 7% (seven percent) per annum shall be payable on the entire outstanding amount from the due date till the actual date of payment.
4.3. It is hereby agreed that if a default is made in the payment of rent by the Lessee for: ________ (________) consecutive months the Lessor shall be entitled, in addition to other rights and remedies available to the Lessor under this Lease Deed and applicable laws, at its sole discretion to terminate the lease granted under this Lease Deed and to take possession of the Leased Premises as the full and absolute owner thereof without regard to the time elapsed.
5. TERM OF THE LEASE
5.1. The lease of the Leased Premises shall commence on ________ and shall continue for a period of ________ (________) months ("Lease Period") unless terminated earlier in accordance with the terms hereof.
5.2. Upon expiry of the Lease Period, the lease shall be renewable on the same terms and conditions provided a request for renewal is made by the Lessee 2 (two) months before the expiry of the Lease Period. If no notice of renewal is issued by the Lessee, the lease shall terminate upon expiry of the Lease Period.
6. SUBLEASE, ASSIGNMENT
6.1. The Lessee shall be permitted to sublet or assign the lease of the Leased Premises.
6.2. The sublet is only permitted to the following third parties: ________. Other than sublease or assignment of the Leased Premises to the following third parties: ________, the Lessee shall not sublet, assign, or otherwise part with the possession of the Leased Premises either in part or in full without the consent in writing of the Lessor. Any assignment, sub-lease, or license except as permitted above, without the prior written approval of the Lessor shall be null and void and in such an event the Lessor shall be entitled to terminate the lease at its sole discretion.
6.3. In the event of subletting, the subtenant shall comply with all the terms and conditions of this Lease Deed, and the Lessee shall remain liable for the full performance of the Lease Deed, including the payment of rent.
7. SECURITY DEPOSIT
7.1. The Lessee has paid to the Lessor an amount of Rs. ________ (________) as an interest-free refundable security deposit. The Lessor acknowledges receipt of the security deposit.
7.3. In the event the Lessor sells the Leased Premises or assigns all rights under this Lease Deed to a third party ("New Lessor"), the security deposit shall also be transferred to the New Lessor and the Lessor shall thereafter not have any liability towards the return of the security deposit to the Lessee.
8. LOCK IN
The Lessor shall not be entitled to terminate this lease during the period of: ________, from the ________ ("Lock-In Period") for any reason whatsoever.
9. WATER, ELECTRICITY AND OTHER UTILITIES
9.1. The Lessee shall pay the electricity, water charges and charges for any other utilities at actuals directly to the authorities concerned. The relevant meter readings as of the date of this Lease Deed is:
________
10. TELEPHONE, FAX AND INTERNET
The Lessee shall have the right to apply for, obtain and install telephone, fax, internet and/or cable lines in the Leased Premises in their own name and at their own cost. The Lessee shall remove the telephone, fax, internet and/or cable lines obtained and installed by them, as well as pay all dues on the expiry/termination of the lease.
11. STRUCTURAL ADDITIONS
11.1. The Lessee shall not carry out any structural additions, modifications or alterations to the Leased Premises without the prior written consent of the Lessor. If the Lessor approves the additions, modifications or alterations to the Leased Premises in writing, and the Lessee intends to use a contractor to carry out the same, such contractor must also be approved in writing by the Lessor prior to commencement of the work.
11.2. The Lessee may install and remove its own fittings and fixtures, provided this is done without causing any damage to the Leased Premises. Any such fixtures and fittings may be required to be removed by the Lessor, at its sole discretion, upon vacation of the Leased Premises by the Lessee.
12. COMPLIANCE WITH RULES
The Lessee shall comply with all applicable laws, rules and regulations of the local government authorities in relation to the Leased Premises. The Lessee shall also comply with the rules and regulations of the building association where the Leased Premises is situated.
13. POSSESSION
13.1. Lessee shall be handed over possession of the Leased Premises simultaneously with the execution of this Lease Deed.
13.2. In the event the Lessor is unable to hand over possession of the Leased Premises to the Lessee on the date as specified above, due to any unforeseen circumstances, Lessor shall not be liable for any damages, but the Lessee will not be liable to pay rent until possession is given.
14. REPAIRS
The Parties agree that day-to-day repairs such as fuse blowout, replacement of light bulbs/tubes, leakage of water taps, maintenance of the water pump and other minor repairs, etc., shall be carried out by the Lessee at its own cost, and any major repairs, either structural or to the electrical or water connection, plumbing leaks, water seepage shall be attended to by the Lessor. In the event of the Lessor failing to carry out the repairs on receiving notice from the Lessee, the Lessee shall undertake the necessary repairs and the Lessor will be liable to reimburse costs incurred by the Lessee within a period of 7 (seven) days.
15. INSPECTION
The Lessor and/or its authorised personnel shall have the right to enter upon and inspect the Leased Premises or any part thereof with prior written notice of 24 (twenty) fours at any time during the following hours: ________. Provided, however, in case of an emergency, no prior notice shall be required to be given.
16. TAXES
16.1. The Lessor shall be responsible for the payment of property tax and any other municipal taxes pertaining to the Leased Premises during the Lease Period.
16.2. The Parties agree that stamp duty and on this Lease Deed shall be borne by Lessor.
16.3 Goods and services tax payable on the rent shall be borne byLessee.
17. OBLIGATIONS OF LESSEE
17.1. The Lessee shall use the Leased Premises in a careful and responsible manner and shall hand over the premises to the Lessor in the same condition (reasonable wear and tear excepted).
17.2. The Lessee shall use and maintain the following fittings and fixtures handed over along with the Leased Premises and shall return without any damages other than normal wear and tear:
________
17.3. Lessee agrees that it shall not damage the Leased Premises and shall be responsible for any damages sustained to the Leased Premises as a result of any activity on the part of Lessee's invitees, licensees, and/or guests.
17.4. Lessee shall comply with all obligations imposed upon lessees by applicable provisions of law and building associations.
17.5. Lessee shall use and operate all electrical, plumbing, sanitary, ventilating, air-conditioning and other facilities and appliances, including elevators (as applicable) in a reasonable manner.
17.6. Lessee shall not destroy, deface, damage, impair, or remove any part of the Leased Premises or property therein belonging to the Lessor nor permit any person to do so.
17.7. Lessee shall conduct himself or herself, and require other persons on the Leased Premises with his or her consent to conduct themselves, in a manner that does not unreasonably disturb the Lessee's neighbours or cause nuisance.
18. OBLIGATIONS OF LESSOR
18.1. The Lessor hereby covenants, warrants and represents with the Lessee as follows:
18.1.1. That the Lessor is the absolute and lawful owner of the Leased Premises and has full right, power and authority to grant the lease in respect of the Leased Premises on the terms and conditions set out in this Lease Deed. The Lessor further covenants that the Lessee, on paying the rent and observing the terms and conditions herein contained, shall peacefully and quietly hold, possess and enjoy the Leased Premises during the Lease Period without any interruption or disturbance by the Lessor or any person claiming through or under the Lessor.
19. FORCE MAJEURE
19.1. Neither Party shall be liable for any failure or delay in performing its obligations under this Lease Deed if such failure or delay is caused by circumstances beyond the reasonable control of such Party, including but not limited to acts of God, fire, flood, earthquake, epidemic, pandemic, war, riot, civil commotion, strikes, lockouts, or any order, restriction or prohibition imposed by any government or statutory authority ("Force Majeure Event").
19.2. The Party affected by a Force Majeure Event shall promptly notify the other Party in writing of the occurrence of such event and the obligations affected thereby.
19.3. The performance of the affected obligations shall be suspended for the duration of the Force Majeure Event and the time for performance shall be extended accordingly.
19.4. In the event the Force Majeure Event continues for a continuous period exceeding 60 (sixty) days, either Party shall be entitled to terminate this Lease Deed by giving written notice to the other Party.
20. REPRESENTATIONS AND WARRANTIES OF THE LESSEE
20.1. The Lessee hereby covenants, warrants and represents with the Lessor as follows:
20.1.1. To pay the Rent on the due dates and in the manner specified in this Lease Deed and to observe and abide by all the terms and conditions as set out in this Lease Deed.
20.1.2. To hand over the vacant possession of the Leased Premises to the Lessor immediately upon expiry of the term of the Lease and/or on earlier termination of this Lease Deed. The Lessee shall be liable to remove all the fittings and fixtures installed by them in the Leased Premises and reinstate the Leased Premises to original condition subject to wear and tear.
20.2. To keep the Leased Premises at all times in good and tenantable condition.
21. INSURANCE
The Lessor shall be responsible for insuring the Leased Premises.
22. DEFAULT
A breach of any of the terms of this lease by the Lessee which is not cured within a period of 15 (fifteen) days from receipt of notice from the Lessor shall be considered a default under this Deed. Breaches may include but are not limited to, failure to pay the lease rent, engaging in any unlawful activity, damaging or otherwise destroying Leased Premises or any common areas therein, or violation of any part or sub-part of this Lease.
23. TERMINATION
23.1. The Lessor shall also be entitled to terminate the lease without any notice in the event of a default committed by the Lessee which is not cured within a period of: ________, from the date of receipt of a written notice in that regard from the Lessor.
23.2. Lessor shall be entitled to terminate this Lease Deed upon expiry of the Lock-In Period by giving written notice of ________ (________) days to the Lessee of its intention to terminate.
23.3. Lessee shall be entitled to terminate this Lease Deed by giving written notice of ________ (________) days to the Lessor of its intention to terminate.
23.4. Upon any termination of the Lease for any reason whatsoever, the Lessee shall hand over physical vacant possession of the scheduled property to the Lessor simultaneous with the Lessor refunding to the Lessee the Security Deposit after adjusting all monies due and payable by the Lessee in terms of this Lease Deed.
24. INDEMNITY
Each Party shall defend, indemnify, and hold harmless the other Party from and against any claim, liability, demand, loss, damage, judgment or other obligation or right of action, which may arise as a result of the breach by such Party of this Lease Deed or any misrepresentation made herein.
25. GOVERNING LAW
This Deed shall be governed by the laws of India and the laws of ________ and Andaman and Nicobar Islands will be applicable.
26. ASSIGNMENT BY LESSOR
The Lessor shall be entitled to sell, assign, convey or transfer in any manner his interest in the Leased Premises or his rights and obligations under this Lease Deed to any third party without the written consent of the Lessee, provided that he ensures that the prospective purchaser/assignee agrees to be bound by the terms of this Lease Deed.
27. AMENDMENT
The terms of this Lease Deed shall not be altered or added to nor shall anything be omitted therefrom except by means of a Supplementary Deed in writing duly signed by both the Parties hereto.
28. DISPUTE RESOLUTION
28.1. Except as otherwise specifically provided in this Lease Deed, the following provisions apply if any dispute and difference arise between the Parties, arising out of or in relation to/connection with this Lease Deed (The 'Dispute').
28.2. Dispute will be deemed to arise when one Party serves on the other Party a notice stating the nature of the Dispute (a 'Notice of Dispute').
28.3. The Parties hereto agree that upon serving a Notice of Dispute, they will use all reasonable efforts to resolve the Dispute between themselves through negotiations.
28.4. Subject to the foregoing, the courts in ________, Andaman and Nicobar Islands shall have exclusive jurisdiction over any dispute, differences or claims arising out of this Lease Deed.
29. RIGHT TO MORTGAGE
Lessor reserves the right to mortgage or otherwise place a lien on the Leased Premises and Lessee agrees to accept the Leased Premises subject and subordinate to any such mortgage or lien. In the event the Lessor has already mortgaged the Leased Premises, it shall ensure that it obtains the consent of the mortgagor, if required, for the lease of the Leased Premises.
30. NOTICES
30.1. Any notice or other information/document required or authorised by this Deed to be given shall be given in writing, in English and by:
30.1.1. Delivering it by hand (a written acknowledgement in receipt thereof shall be sufficient evidence that the notice or other information has been duly given); or
30.1.2. Sending it by nationally recognized courier to the relevant Parties at the addresses specified in the name clause of this Deed above; or
30.1.3. thorough email.
31. SEVERABILITY
If at any time, any provision of this Lease Deed shall become or be held illegal, invalid or unenforceable in any respect under any law, then the legality, validity or enforceability of the remaining provisions shall not in any way be thereby affected or impaired.
32. WAIVER
No failure on the part of either Party to exercise, and no delay on the part of either Party in exercising any right hereunder, shall operate as a waiver thereof, nor shall any single or partial exercise of any such right preclude any other or future exercise thereof or the exercise of any other right. The remedies herein are cumulative and not exclusive of any remedies provided by law.
33. COUNTERPARTS
This Lease Deed may be executed in two or more counterparts each of which shall be deemed to be an original.
IN WITNESS WHEREOF, the Parties hereto have executed this Agreement:
___________________________
________
___________________________
________
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