LEASE DEED

This lease deed is made and executed on this the 5th June 2020 at Hyderabad by and between

1. Sri. A. Surender Reddy S/o Late Mohan Reddy, aged about 71 years, occupation:
Business resident of Flat No.201, Prithvi Opuience, Jeedimetla Village, Quthbullapur
Mandal, Ranga Reddy District (Lessor-1).

2. Smt. K. Ashwitha Reddy W/o K. Anand Reddy, aged about 43 years, occupation:
Housewife resident of Flat No.207, Prithvi Opuience, Jeedimetla Village, Quthbullapur
Mandal, Ranga Reddy District (Lessor-2).

(Hereinafter referred to as “LESSORS /LANDLORD” which terms shall mean and include all
his/her/their heirs, successors, attorneys, agents, legal representatives and administrators
etc.,) of the one part.
And

M/S ICON GROUP, Reg. No. 3919082, registered with Trade Mark Registry, Govt. of India,
under Trade Marks Act 1999; Proprietor – M/s Icon Facilities Management Solutions Private
Limited, CIN: U74120TG2011PTC073781, having its office at Plot No.6, Flat No. 102, Bhashyam
Kaminini Residency, YousufGuda, Hyderabad, Telangana-500045. represented by its
authorised representative Mr. Burada Govind Rao S/o Lt. Mr. Burada Pattabi Naidu, aged
about 48 years residing at H. No. 39, LIG -1, Uday Nagar, B K Guda, Beside St’ Teresa School,
Sanjeev Reddy Nagar, Hyderabad, Telangana – 500038.

(Here in after referred to as the ‘‘LESSEE / TENANT’’ which terms shall mean and include all
its heirs, successors, attorneys, agents and administrators, etc.,) of the other part.

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Whereas the Lessor 1 and Lessor 2 (Hereinafter collectively referred to as Land Owners) are
the absolute owners and possessors of property Plot No. 88, Sagar Co-Operative Society,
Banjara Hills, Road No-2, Hyderabad. admeasuring 444 Sq. yards.

The Landlord has taken permission from GHMC and constructed Two Portions Ground + One
Floor Each i.e. 2950 Sft, & 2950 Sft Totally 5900 Sft.

Whereas the Lessee has approached the Lessors to let-out the above said property consisting
of Ground + 1 Floor for the purpose of Office for a lease period of 3 years w.e.f 05.06.2020.

The monthly rent will be Rs. 1,20,000/-(Rupees One Lakh Twenty Thousand only) @
Rs.20.40/- per Sft, for 5900 Sft towards monthly rent the subject to deduction of TDS as per
Income Tax laws on which the both parties have agreed and lease period will commence from
05.06.2020.

NOW THIS LEASE DEED IS WITNESSETH AS FOLLOWS:

1) That in Pursuance of the above agreement and in consideration of the Rent herein
reserved the Lessors do hereby agree to lease Ground +1 floor on 1 st June 2020 or
from the date of occupation of the building, all that its part and parcel of the
Scheduled property unto lessee to hold the same till the subsistence of the lease on
the following terms and conditions.

2) The period of lease is initially for 3 (Three) years. The lease Period will commence
from 5th June 2020 and run until 31st May 2023 or 3 years from actual date of
possession of the property.

3) hat the lessee has agreed to pay sum of Rs. 1,20,000/-(Rupees One Lakh Twenty
Thousand only) Rs.20.40/- per Sft, for 5900 Sft towards monthly rent the rent shall be
payable to the Lessors in the following ratio:

Sl. No Lessor Name Rent % Rent Amount

01 A. Surender Reddy 50 60,000/-
02 K. Ashwitha Reddy 50 60,000/-
Total Rs. 1,20,000/-

The rent payable is subject to deduction of T.D.S as per the Income Tax laws, by way
of Demand Draft / Cheque on before 10th day of every English Calendar Month falling
to do so interest for at 24% will be charged for the delay period and the T.D.S
certificate in Form- 16 A of the IT act will be issued once in a quarter.

4) That the Lessors agrees to provide the internal partitions Toilets, flooring, water,
Electricity, etc. as per the requirements of the Lessee. The internal partition shall be
as per the plan to the provided. However, it is made clear that if any subsequent
modifications are required after furnishing plan during the course of lease, the cost of
such changes have to be borne by the Lessee.

5) That the Lessee has agreed to pay sum of Rs.4,00,000/- (Rupees Four Lakhs Only)
towards interest free rental deposit (with the Cheque Nos: 000967 and 000968 of
ICON Facilities Management Solutions Pvt. Ltd, germane to ICICI Bank, S.R Nagar

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 Branch) which is returnable at the time of vacation of the Building, after the lessee
having cleared all dues to the lessors. The refundable deposit shall be payable to the
Lessors in the following ratio:

Sl. No Lessor Name Refundable Refundable

Deposit % Deposit Amount
01 A. Surender Reddy 50 2,00,000/-
02 K. Ashwitha Reddy 50 2,00,000/-
Total Rs. 4,00,000/-

5) That the Lessee agreed to enhance the monthly rent at the rate of 7.5% for every year
over and above the then existing/prevailing rent. The date of enhancement will be
calculated from the date of occupation of the premises.

6) That the Lessee has no right to let or sublet any part or whole of the premises being
let out to them. That the Lessee here by agrees to use the said premises for the
purpose of Office Space but not for running any other purpose.

7) That the Lessors shall be liable to pay the property tax, and all other Municipal taxes
and statutory taxes levied by the Municipal Corporation as per local authority in
respect of the buildings. However, water and Electricity Consumption charges as per
reading of the meters, regularly shall be paid by the Lessee during the Tenancy. The
Lessee shall alone be responsible and accountable for any penalties levied by
electricity department either due to disappearance meter seal or otherwise. If GST
applicable shall be borne by Lessee.

8) That the lessors have to provide required Electricity, water and drainage Connections
to the Building at their cost.

9) That the lessors have to provide AC wiring for all the rooms to install the AC machines
and the Panel Boards wherever required.

10) That the rent of the said premises will be starting from the date of occupation of the
scheduled property by the lessee. The Lessors has agreed to complete the
construction of the building and handover the possession of building to the lessee on
or before 05.06.2020.

11) The Lessee shall ensure that there would be no disturbance by their activities to the
neighbors.

12) All maintenance charges and annual maintenance charges is to be borne by the Lessee
including Water, Drainage, and electricity are to be borne by the Lessee.

13) The lessee shall not make any damages to the movable/ immovable property
including flooring, walls, wiring and building structural etc. leased or hired to them by
the lessors. The Lessee shall undertake all repairs as and when required to the
demised property including flooring, wiring etc., at its own cost during its occupation
of the premises.

14) The lessee shall not make any alternations additions and structure in the scheduled
premises including vacant place without prior consent of the lessors in writing.

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 15) The lessee shall be at liberty to place/install name boards/plates, neon signboards,
insignia, logo, trade signs or any other crests signage and such other advertising
materials at the demised premises with the approval of lessors and without causing
and damage to the promises/elevations. The Lessee shall be liable to pay all taxes
payable to Municipal Corporation and other authorities with regard to display of
hoardings / signboards etc.

16) To vacate the building either party have to give 6 (Six) months prior notice to the other
party.

17) Any notice required to be given hereunder shall be deemed to have been duly given
if sent by Registered Post Acknowledgment Due to the LESSORS at his residence/
address on this LEASE DEED and to the LESSEE at the licensed office or his office stated
in this LEASE DEED and shall be deemed to have been received by the addressee on
the expiry of 7 (Seven) days from the day on which it was delivered at the said address.

18) Upon receipt of any notice, summons order, directions or any other demand/
document from any person/authority the lessee shall deliver the same to the lessors
in connection with the building.

19) The stamp duty and registration charges/fees for registration of the lease deed shall
be borne by Lessee.

20) The lessors are having all the rights over the terrace including for making all further
constructions and the lessee shall have access to the terrace of the building for the
purpose of inspection of water levels in the overhead for conducting any
repairs/leaks.

21) The Lessors agreed to take the insurance for the structure of the building. The Lessee
shall be obliged to take necessary insurance policy for all fixtures and equipment’s to
be installed in the premises at their own cost.

22) The Lessee shall take all safety precautions for the safety and welfare of its staff in
accordance with rules in force and also obtain all necessary permissions from the
concerned authorities to carry on its activity in the demised property.

23) The lease deed is engrossed in two sets, one for Lessors and other for Lessee.

2. All the disputes regarding this deed shall be subject to Hyderabad Jurisdiction only.

Witnesses:

LESSORS
1.

2.

LESSEE

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 SCHEDULE OF PROPERTY

All that part and parcel of the building coming up at Plot No. 88, Sagar Co-Operative Society,
Banjara Hills, Road No-2, Hyderabad. admeasuring 444 Sq.yrds, building consisting of Ground
+ 1 Floor with total plinth area of 5900 sq. fts and same is leased to lessee and which is
bounded as follows:

East : 30’ Wide Road

West : Neighbors House
North : Neighbors House
South : 30’ Wide Road

In Witness Whereof the Lessors and Lessee have signed this Lease Deed with their free will,
sound mind, Without any force or coercion and read out the above contents having
understood, and have affixed their signatures and sealed hereto, on the Day, month and year
first above mentioned, in the presence of the witnesses mentioned here below.

Witnesses:

1.

2. LESSORS

LESSEE

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