Parking Lease Agreement - Template, Sample Form Online
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PARKING LEASE AGREEMENT
This Parking Lease Agreement ("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 of the parking space located at (hereinafter called the "Parking Space") :
________
B. A layout plan of the Parking Space allotted to the Lessee will be attached along with this lease as Annexure - A.
C. Lessee had approached the Lessor for a grant of lease in respect of Parking Space and the Lessor has agreed to lease out the same to the Lessee.
D. The Lessor and the Lessee are now desirous of executing this Lease Deed to record the terms and conditions governing the lease of the Parking Space as set forth hereinafter.
NOW THEREFORE THIS AGREEMENT WITNESSETH AND IT IS 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:
2. GRANT OF LEASE
(a) The Lessor hereby grants to the Lessee the right to use Parking Space and that the Lessee shall be entitled to peacefully use the Parking Space, and the other rights granted herein.
3. PURPOSE
(a) The Lessee shall use the Parking Space only for parking the vehicle in good condition.
(b) Only the following types of vehicles are allowed to be parked at the Parking Space:
________
(c) The Parking Space shall be exclusively used by the Lessee. The Parking Space shall not be used for any purposes other than for parking vehicles. The Lessee shall not use the Parking Space for any unlawful purposes and shall forthwith notify the Lessor if it becomes aware of any illegal activities being conducted in the Parking Space. The Lessee will not store or allow to be stored on the Parking Space any properties other than vehicles.
4. LEASE RENT
(a) The Lessee has agreed to pay the rent of Rs. ________ (________) in advance on or before 1st (first) day of of each calendar month.
(b) The rent will be paid using the following method: account payee cheque
(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 a 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 to the Lessor under this Deed and applicable laws, at its sole discretion to terminate the lease granted under this Deed and to take possession of the Parking Space as full and absolute owner thereof without regard to the time elapsed.
(e) Provided, however, a notice in writing shall be given by the Lessor to the Lessee of his 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 of the Parking Space. However, if the arrears of rent are not paid by the Lessee, within a period of ________ (________) days from issue of the notice by the Lessor, the lease shall stand automatically terminated with no further acts required on part of the Lessor.
5. SECURITY DEPOSIT
(a) The Lessee has paid to the Lessor an amount of Rs. ________ (________) as interest free refundable security deposit. The Lessor acknowledges receipt of the security deposit.
(c) 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.
6. TERM OF THE LEASE
(a) The lease of the Parking Space shall commence on ________ and shall continue for a period of ________ (________) months ("Lease Period") unless terminated earlier in accordance with the terms hereof. 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 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, ASSIGNMENT
(a) The Lessee shall not sublet, assign, or otherwise part with the possession of the Parking Space either in part or in full without the consent in writing of the Lessor. Any assignment, sub-lease or license 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.
8. POSSESSION
(a) 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 first month's rent and the security deposit.
(b) In the event the Lessor is unable to hand over possession of the Parking Space to the Lessee on the date as specified above, due to any unforeseen circumstances, Lessor shall not be liable for any damages but Lessee will not be liable to pay rent until possession is given.
9. TAXES
(a) The Lessor shall be responsible for the payment of any taxes pertaining to the Parking Space including land and property tax during the Lease Period.
(b) Goods and services tax payable on the rent shall be borne by Lessor.
(c) The Parties agree that stamp duty on this Deed shall be borne by both Parties jointly.
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. The vehicle shall not have any oil or other leakages. If the Parking Space has been contaminated due to such leakages 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 be liable to 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 insurance certificate. Upon request of the Lessor, the Lessee shall provide a copy of RC and insurance certificate to the Lessor.
(e) Lessee agrees that it shall not damage the Parking Space and shall be responsible for any damages to the Parking Space as a result of any activity on the part of Lessee's invitees, licensees, and/or guests.
(f) Lessee shall comply with all obligations imposed upon lessees by applicable provisions of law.
(g) 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 Lessee's neighbours or cause nuisance.
11. OBLIGATIONS OF LESSOR
(a) Lessor shall comply with applicable laws and pay the municipal taxes in respect of the Parking Space in a timely manner.
(b) Lessor shall ensure that any major repairs which may be required for the Parking Space shall be carried out in a timely manner.
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 Lease 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 WARRANTIES OF THE LESSEE
(a) Lease Rentals - 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.
(b) Handover of vacant possession – To hand over the vacant possession of the Parking Space 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 the Vehicles and other properties from the Parking Space and vacate the Parking Space 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 lease 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 Parking Space, or violation of any part or sub-part of this Lease.
15. TERMINATION
(a) 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.
(b) Lessor shall be entitled to terminate this Lease Deed by giving written notice of: ________ to the Lessee of its intention to terminate.
(c) Lessee shall be entitled to terminate this Lease 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 Schedule Parking Space 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.
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 Lease Deed or any misrepresentation made herein.
(b) Lessor or Lessor's agents or assigns are not 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 Lessee hereby indemnifies Lessor for any loss, theft, injury or damage of any kind resulting from acts not directly attributable to Lessor or Lessor's agents.
17. ASSIGNMENT BY LESSOR
The Lessor shall be entitled to sell, assign, convey or transfer in any manner his interest in the Parking Space 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.
18. 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.
19. RIGHT TO MORTGAGE
Lessor reserves the right to mortgage or otherwise place a lien on the Parking Space and 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 mortgagor, if required, for the lease of the Parking Space.
20. SPECIAL CONDITIONS
The Lessee agrees that it shall not without prior written permission of the Lessor carry out the following activities in the Parking Space:
________
21. NOTICES
Any notice or other information/document required or authorized by this Deed shall be given in writing, in English, and by:
(a) 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
(b) Sending it by nationally recognized courier;
to the relevant Parties at the addresses specified in the name clause of this Deed above.
22. 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.
23. 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.
24. DISPUTE RESOLUTION
(a) 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 ("Dispute").
(b) The dispute will be deemed to arise when one Party serves on the other Party a notice stating the nature of the Dispute ("Notice of Dispute").
(c) 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
(d) Subject to the foregoing, the courts in ________ shall have exclusive jurisdiction over any dispute, differences or claims arising out of this Lease Deed.
25. GOVERNING LAW
This Deed shall be governed by the laws of India.
26. COUNTERPARTS
This Lease Deed may be executed in _____ (To fill in the number of copies of the lease deed which would be printed and signed in original) number of counterparts each of which shall be deemed to be an original.
IN WITNESS WHEREOF, the Parties hereto have executed this Agreement:
___________________________
________
___________________________
________
Annexure - A - Parking Layout Plan.
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