Parking Lease Agreement - Template, Sample Form Online Pro · IN-law

PARKING SPACE LEASE DEED

This Parking Space Lease Deed ("Deed") is made and executed at ________, ________ on this ________.

BY AND BETWEEN

________, son/daughter/wife of ________, aged about ________ years, bearing PAN ________ and Aadhaar No. ________, residing at ________ (hereinafter referred to as the "Lessor", which expression shall, unless repugnant to the context or meaning thereof, mean and include his/her legal heirs, executors, administrators, representatives and permitted assigns) of the FIRST PART;

AND

________, son/daughter/wife of ________, aged about ________ years, bearing PAN ________ and Aadhaar No. ________, residing at ________ (hereinafter referred to as the "Lessee", which expression shall, unless repugnant to the context or meaning thereof, mean and include his/her legal heirs, executors, administrators, representatives and permitted assigns) of the SECOND PART.

(The Lessor and the Lessee are hereinafter individually referred to as a "Party" and collectively as the "Parties".)

WHEREAS:

A. The Lessor represents that he/she is the sole and absolute owner, lawfully seized and possessed of and otherwise well and sufficiently entitled to the parking space more particularly described in the Schedule hereunder (hereinafter called the "Parking Space"), situate at:

________

B. A layout plan of the Parking Space allotted to the Lessee is annexed hereto and marked as Annexure – A and forms an integral part of this Deed.

C. The Lessee approached the Lessor for the grant of a lease in respect of the Parking Space and the Lessor has agreed to lease out the same to the Lessee on the terms and conditions hereinafter appearing.

D. The Parties are now desirous of executing this Deed to record the terms and conditions governing the lease of the Parking Space as set forth hereinafter, this Deed being intended to constitute a valid lease within the meaning of Section 105 of the Transfer of Property Act, 1882.

NOW THEREFORE THIS DEED WITNESSETH AND IT IS HEREBY AGREED BY AND BETWEEN THE PARTIES HERETO AS UNDER:

1. INTERPRETATION

In this Deed, unless the context otherwise requires, the following rules of interpretation shall apply:

Lorem ipsum dolor sit amet consectetur adipiscing elit sed do eiusmod tempor incididunt ut labore et dolore magna aliqua ut enim ad minim veniam quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat duis aute irure dolor in reprehenderit voluptate velit esse cillum dolore eu fugiat nulla pariatur lorem ipsum dolor sit amet consectetur adipiscing elit sed do eiusmod tempor incididunt ut labore et dolore magna aliqua ut enim ad minim veniam quis nostrud exercitation ullamco laboris.

2. GRANT OF LEASE

(a) The Lessor hereby grants to the Lessee the right to use the Parking Space and the Lessee shall, subject to the due performance of the covenants on its part herein contained, be entitled to peacefully and quietly hold and use the Parking Space during the Lease Period without any interruption or disturbance by the Lessor or any person claiming under or in trust for the Lessor.

3. PURPOSE

(a) The Lessee shall use the Parking Space only for parking the vehicle(s) in good condition.

(b) Only the following types of vehicles are permitted to be parked at the Parking Space:

________

(c) The Parking Space shall be exclusively used by the Lessee and shall not be used for any purpose other than parking of vehicles. The Lessee shall not use the Parking Space for any unlawful purpose and shall forthwith notify the Lessor if it becomes aware of any illegal activities being conducted in the Parking Space. The Lessee shall not store or allow to be stored on the Parking Space any property other than the permitted vehicles.

4. LEASE RENT

(a) The Lessee has agreed to pay rent of Rs. ________ (Rupees ________) per month, payable in advance on or before the ________ day of each calendar month.

(b) The rent shall be paid by the following method: ________.

(c) In the event of delay in the payment of rent by the Lessee, interest at the rate of ________% (________ percent) per annum shall be payable on the entire outstanding amount from the due date till the actual date of payment.

(d) It is hereby agreed that if default is made in payment of rent by the Lessee for ________ (________) consecutive months, the Lessor shall be entitled, in addition to other rights and remedies available under this Deed and applicable law, at its sole discretion to terminate the lease granted under this Deed and to re-enter and take possession of the Parking Space.

(e) Provided, however, that a notice in writing shall be given by the Lessor to the Lessee of its intention to terminate the lease and to take possession of the Parking Space. In the event the Lessee pays the arrears of rent within a period of ________ (________) days from issue of the notice by the Lessor, the Lessor shall not be entitled to terminate the lease. If the arrears of rent are not paid within the said period, the lease shall stand automatically terminated with no further act required on the part of the Lessor.

5. SECURITY DEPOSIT

(a) The Lessee has paid to the Lessor an amount of Rs. ________ (Rupees ________) as an interest-free refundable security deposit. The Lessor acknowledges receipt of the said security deposit.

Lorem ipsum dolor sit amet consectetur adipiscing elit sed do eiusmod tempor incididunt ut labore et dolore magna aliqua ut enim ad minim veniam quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat duis aute irure dolor in reprehenderit voluptate velit esse cillum dolore eu fugiat nulla pariatur lorem ipsum dolor sit amet consectetur adipiscing elit sed do eiusmod tempor incididunt ut labore et dolore magna aliqua ut enim ad minim veniam quis nostrud exercitation ullamco laboris.

(c) In the event the Lessor sells the Parking Space or assigns all rights under this Deed to a third party (the "New Lessor"), the security deposit shall be transferred to the New Lessor and the Lessor shall thereafter have no liability towards the return of the security deposit to the Lessee.

6. TERM OF THE LEASE

(a) The lease of the Parking Space shall commence on ________ and shall continue for a period of ________ (________) months (the "Lease Period"), unless terminated earlier in accordance with the terms hereof. Upon expiry of the Lease Period, the lease shall be renewable on mutually agreed terms, provided a request for renewal is made by the Lessee for the following period: ________, before 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.

7. SUBLEASE AND ASSIGNMENT BY LESSEE

(a) The Lessee shall not sublet, assign, or otherwise part with possession of the Parking Space either in part or in full without the prior written consent of the Lessor. Any assignment, sub-lease or licence without the prior written approval of the Lessor shall be null and void, and in such event the Lessor shall be entitled to terminate the lease at its sole discretion.

8. POSSESSION

(a) The Lessee shall be handed over possession of the Parking Space simultaneously with the execution of this Deed, subject to the payment of an amount equivalent to the first month's rent and the security deposit.

(b) In the event the Lessor is unable to hand over possession of the Parking Space on the date specified above due to any unforeseen circumstances, the Lessor shall not be liable for any damages, but the Lessee shall not be liable to pay rent until possession is given.

9. TAXES AND STAMP DUTY

(a) The Lessor shall be responsible for the payment of all taxes pertaining to the Parking Space, including land and property tax, during the Lease Period.

(b) Goods and Services Tax, if applicable on the rent under the Central Goods and Services Tax Act, 2017 and the relevant State legislation, shall be borne by ________.

(c) The Parties agree that the stamp duty payable on this Deed under the Indian Stamp Act, 1899 (as applicable in the relevant State) and the registration charges, if any, under the Registration Act, 1908, shall be borne by ________.

(d) Tax deducted at source, if any applicable on the rent under the Income-tax Act, 1961, shall be deducted and deposited by the Lessee in accordance with law.

10. OBLIGATIONS OF LESSEE

(a) The Lessee shall use the Parking Space in a careful and responsible manner.

(b) The vehicle parked at the Parking Space shall be in good condition and shall not have any oil or other leakages. If the Parking Space is contaminated due to such leakage or dirt from the vehicle, the Lessee shall clean the premises at its own cost, or if the Lessor cleans the space, the Lessee shall reimburse the reasonable cost within 7 (seven) days from the date of such cleaning.

(c) No repairs or maintenance of the vehicle is permissible at the Parking Space; if required, the vehicle shall be towed to the proper location for such repairs or maintenance.

(d) The vehicle must have a valid Registration Certificate (RC) and a valid insurance certificate. Upon request of the Lessor, the Lessee shall provide a copy of the RC and insurance certificate to the Lessor.

(e) The Lessee shall not damage the Parking Space and shall be responsible for any damage caused to the Parking Space as a result of any activity on the part of the Lessee's invitees, licensees and/or guests.

(f) The Lessee shall comply with all obligations imposed upon lessees by applicable provisions of law.

(g) The Lessee shall conduct himself or herself, and require other persons on the Parking Space with his or her consent to conduct themselves, in a manner that does not unreasonably disturb the neighbours or cause nuisance.

11. OBLIGATIONS OF LESSOR

(a) The Lessor shall comply with applicable laws and pay the municipal taxes in respect of the Parking Space in a timely manner.

(b) The Lessor shall ensure that any major repairs required for the Parking Space are carried out in a timely manner.

(c) The Lessor covenants that he/she has good and marketable title to the Parking Space and full power and authority to grant the lease herein, and that the Lessee, paying the rent and performing the covenants herein contained, shall peaceably hold and enjoy the Parking Space during the Lease Period.

12. ALTERATIONS AND ADDITIONS

(a) The Lessee shall not make any alterations, additions or structural changes to the Parking Space without the prior written consent of the Lessor.

(b) Any alterations, additions or improvements made by the Lessee with the consent of the Lessor shall become the property of the Lessor upon expiry or earlier termination of this Deed, unless otherwise agreed in writing between the Parties.

(c) The Lessee shall not affix any fittings, fixtures or signage upon the Parking Space without the prior written consent of the Lessor and shall be liable to restore the Parking Space to its original condition at the time of vacating the same.

(d) The Lessee shall ensure that any alterations or additions made with the consent of the Lessor are carried out in compliance with all applicable laws and at the sole cost and expense of the Lessee.

13. REPRESENTATIONS AND COVENANTS OF THE LESSEE

(a) Lease Rentals – To pay the rent on the due dates and in the manner specified in this Deed and to observe and abide by all the terms and conditions set out herein.

(b) Handover of vacant possession – To hand over vacant possession of the Parking Space to the Lessor immediately upon expiry of the Lease Period and/or upon earlier termination of this Deed. The Lessee shall remove the vehicles and other property from the Parking Space and vacate the same without any undue delay.

(c) Good and leasable condition – To always keep the Parking Space in good and leasable condition.

14. DEFAULT

A breach of any of the terms of this Deed by the Lessee which is not cured within a period of ________ 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 the Parking Space, or violation of any part or sub-part of this Deed.

15. TERMINATION

(a) The Lessor shall be entitled to terminate the lease 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.

(b) The Lessor shall be entitled to terminate this Deed by giving written notice of ________ to the Lessee of its intention to terminate.

(c) The Lessee shall be entitled to terminate this Deed by giving written notice of ________ to the Lessor of its intention to terminate.

(d) Upon any termination of the lease for any reason whatsoever, the Lessee shall hand over physical vacant possession of the Parking Space described in the Schedule to the Lessor simultaneously with the Lessor refunding the security deposit to the Lessee after adjusting all monies due and payable by the Lessee in terms of this Deed.

16. INDEMNITY

(a) 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 Deed or any misrepresentation made herein.

(b) The Lessor and the Lessor's agents or assigns shall not be responsible for any loss, theft or damage to any property left in any vehicle while in, or being driven to and from, the Parking Space or adjacent areas, and the Lessee hereby indemnifies the Lessor against any loss, theft, injury or damage of any kind resulting from acts not directly attributable to the Lessor or the Lessor's agents.

17. ASSIGNMENT BY LESSOR

The Lessor shall be entitled to sell, assign, convey or transfer in any manner his/her interest in the Parking Space or his/her rights and obligations under this Deed to any third party without the written consent of the Lessee, provided that the Lessor ensures that the prospective purchaser/assignee agrees to be bound by the terms of this Deed.

18. AMENDMENT

The terms of this 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.

19. RIGHT TO MORTGAGE

The Lessor reserves the right to mortgage or otherwise place a lien on the Parking Space, and the Lessee agrees to accept the Parking Space subject and subordinate to any such mortgage or lien. In the event the Lessor has already mortgaged the Parking Space, it shall ensure that it obtains the consent of the mortgagee, if required, for the lease of the Parking Space.

20. SPECIAL CONDITIONS

The Lessee agrees that it shall not, without the prior written permission of the Lessor, carry out the following activities in the Parking Space:

________

21. DATA PROTECTION

Each Party shall process any personal data of the other Party collected pursuant to this Deed solely for the purposes of performance of this Deed and in compliance with the Digital Personal Data Protection Act, 2023 and the rules made thereunder, and shall not disclose the same to any third party except as required by law or with the consent of the concerned Party.

22. NOTICES

Any notice or other information/document required or authorised by this Deed shall be given in writing, in English, and by:

(a) delivering it by hand (a written acknowledgement of receipt thereof being sufficient evidence that the notice or information has been duly given); or

(b) sending it by nationally recognised courier; or

(c) sending it by electronic mail to the email address notified by the relevant Party;

to the relevant Party at the address specified in the recital clause of this Deed above, or at such other address as may be notified in writing from time to time.

23. SEVERABILITY

If at any time any provision of this 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.

24. 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.

25. FORCE MAJEURE

Neither Party shall be liable for any failure or delay in performance of its obligations under this Deed (other than the obligation to pay money) arising out of any cause beyond its reasonable control, including acts of God, flood, fire, earthquake, epidemic, pandemic, war, riot, or governmental action.

26. DISPUTE RESOLUTION

(a) Except as otherwise specifically provided in this Deed, the following provisions shall apply if any dispute or difference arises between the Parties out of or in relation to or in connection with this Deed (the "Dispute").

(b) A Dispute shall be deemed to arise when one Party serves on the other a notice stating the nature of the Dispute (the "Notice of Dispute").

(c) The Parties shall, upon serving a Notice of Dispute, use all reasonable efforts to resolve the Dispute amicably through mutual negotiation.

(d) If the Dispute is not resolved within 30 (thirty) days of the Notice of Dispute, the same shall be referred to and finally resolved by arbitration by a sole arbitrator to be mutually appointed by the Parties, in accordance with the provisions of the Arbitration and Conciliation Act, 1996. The seat and venue of arbitration shall be ________ and the language of arbitration shall be English. The award of the arbitrator shall be final and binding on the Parties.

(e) Subject to the foregoing, the courts at ________ shall have exclusive jurisdiction over any dispute, difference or claim arising out of this Deed.

27. GOVERNING LAW

This Deed shall be governed by and construed in accordance with the laws of India, including the Transfer of Property Act, 1882 and the Indian Contract Act, 1872.

28. COUNTERPARTS

This Deed may be executed in ________ number of counterparts, each of which shall be deemed to be an original and all of which together shall constitute one and the same instrument.

THE SCHEDULE ABOVE REFERRED TO
(Description of the Parking Space)

________

IN WITNESS WHEREOF, the Parties hereto have set and subscribed their respective hands to this Deed on the day, month and year first hereinabove written, in the presence of the witnesses named below.

___________________________

LESSOR: ________

___________________________

LESSEE: ________

WITNESSES:

1. Name: ________, Address: ________, Signature: ___________________________

2. Name: ________, Address: ________, Signature: ___________________________

Annexure – A – Parking Layout Plan.