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LEASE DEED

THIS LEASE DEED is made at ______ on this ___ day of

____, 2014.

BETWEEN

Mrs. ________, wife of Mr. ________, currently residing at __________,

(hereinafter referred to as the “LESSOR” which expression shall wherever
the context so requires or admits mean and include their heirs, executors,
administrators and permitted assigns) of the FIRST PART;

AND

Mrs. _________ wife of Mr. ________ currently residing at

_____________ (hereinafter referred to as the “LESSEE”, which
expression shall wherever the context so requires or admits mean and
include, their successors and permitted assigns of the SECOND PART.

The LESSOR and the LESSEE are hereinafter collectively referred to as

“parties” and singly referred as a “party”.

WHEREAS the LESSOR is the joint owner and in possession of Penthouse

admeasuring ____ sq. mtrs. bearing No. _____. (hereinafter referred as
“Leased Premise”) which is more specifically described and shown in
Annexure – A, attached herewith, alongwith her husband.

AND WHEREAS LESSSOR with due consent of her husband is desirous

of letting out the Leased Premises solely for residential purposes.

AND WHEREAS the LESSOR has covenanted that the Leased Premise is
free from all or any kind of charges, liens or encumbrances and thereafter
provided to the LESSEE the copies of all the documents pertaining to the
title and possession of the Leased Premises. That the LESSEE on being
satisfied with regard to the rights and title of the LESSOR in respect of the
Leased Premises, the LESSEE has agreed to take on rent the Leased
Premises on the terms and conditions as contained hereinafter.
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NOW THIS DEED WITNESSETH AS UNDER:

1. DEFINITION OF AREA

a) COMMON AREA- shall mean all such parts/ areas in the said
building which the occupants of the building in which the said premise
is situated shall use by sharing with other occupants, including
entrance canopy, lobbies, lifts, corridors, passages, control rooms etc.

b) SUPER AREA- The total area for which the Lease Rent shall be
charged.

c) CARPET AREA- the entire area enclosed by its periphery walls which
forms the integral part of the said premise.

2. LEASE TERM

The lease of the Leased Premises shall commence with effect from 10 th
November, 2014 and will remain valid for a maximum period of 11
(eleven) months i.e. till 09th October, 2015. On account of renewal of the
lease term, the Parties herein shall execute a fresh Lease Deed.

3. GRANT

The LESSOR hereby grant lease of the aforesaid Leased Premise to the
LESSEE and the LESSEE hereby accepts from the LESSOR the right to
use and occupy the Leased Premise, alongwith fixtures and fittings,
which are more appropriately described in Annexure A, available in the
Lease Premises, for purpose of accommodation of LESSEE and her
immediate family.

4. RENT

a) The rent for the use and occupation of the Leased Premises, shall
commence from the date of the handover of possession of the
Leased Premise to the LESSEE.
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b) The rent payable for the Leased Premises shall be Rs. _______ per
month. The payable rent shall be subject to the deduction of tax at
source as may be applicable. It is, however, clarified that the Service
Tax, and/or any other tax, duty, levies, charges of similar nature or
description if levied or imposed by the government in future in
relation to licensing/leasing of the Leased Premises shall be borne
by the LESSEE alone. Any escalation in taxes shall be payable by
the LESSEE during the term of the Lease.

c) The LESSEE shall make monthly payment of the Lease rent to the
LESSOR on or before the 7th day of every English calendar month.

d) Subject to the timely payment of the Lease rent, maintenance

charges, electricity charges (if payable by LESSEE), the LESSEE
complying with the terms of this LEASE DEED and performing all
its obligations laid out in this LEASE DEED, the LESSOR will
allow the peaceful uninterrupted and exclusive access of the said
premise to the LESSEE.

e) That the parties understand and covenant that “Time” for making the
payment under this Lease Deed is the essence of the LEASE DEED.
The LESSEE shall in the event of any failure or delay to the effect
of the payment of Lease Rent is liable to pay interest @ 15% p.a.
calculated on the day to day basis till full payment of outstanding
rent along with the interest.

5. MAINTENANCE CHARGES

The LESSEE covenants that it shall pay every month a sum of Rs.
_____/- to the Residential Welfare Association (RWA), _________
towards the maintenance charges/upkeep/security charges which shall
include payments for Electricity Gas, Water Consumption etc.

6. SECURITY DEPOSIT

a) The LESSEE shall pay refundable and non – interest bearing

security deposit of Rs. _______ for the said premise towards the
“Interest Free Refundable Security Deposit”.
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b) The entire security deposit shall be paid in lump sum on the day
when the Leased Premise is handed over to the LESSEE by the
LESSOR.

c) The said Security Deposit shall be refundable by the LESSOR to the

LESSEE on handing over the actual vacant physical and peaceful
possession of the Leased Premise on account of expiry or earlier
termination of this Lease Deed subject to adjustment of the amounts
(if any) which are due or payable under this Lease Deed.

7. TERMINATION OF LEASE :

a) It is agreed by and between the parties that notwithstanding anything

contained herein during the subsistence of this Lease Deed, the
LESSEE or the LESSOR shall have the option to terminate this Lease
Deed by giving to either party three months’ prior notice in writing
and this Lease Deed shall accordingly stand terminated on the expiry
of the said period of notice unless there is a willful breach of the terms
of this Lease Deed by either of the parties.

b) Where there is a willful breach by either party, of the terms and

conditions stipulated in this Lease Deed, the other party shall
terminate the said Lease Deed by giving 07 days prior written notice
to cure such breach failing which the said LEASE DEED stands
terminated.

c) The LESSOR during the period of lease shall also be entitled to

terminate the said deed where LESSEE fails to make the payment of
the lease rent/ maintenance charges (if any) for continuous period of
90 days in such an event and serve upon LESSEE a 30 days prior
written notice for remedying such breach failing which LESSOR may
terminate this Lease Deed.

d) On the termination of this Lease Deed the Interest Free Refundable

Security Deposit shall be refunded to the LESSEE simultaneously
against the LESSEE handing over vacant possession of the Leased
Premises to the LESSOR.
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e) That on the termination of this Lease Deed, the LESSEE if fails to

handover the peaceful possession of the said premise to the LESSOR,
the LESSEE shall be deemed to have unauthorized possession of the
Leased Premise and the LESSEE shall be to liable to make payment of
Rs. 2,000/- (Two Thousand Rupees Only) per day as damages for the
days/ period the Leased Premises remains in unauthorized possession
of the LESSEE.

8. SUBLET

a) The LESSEE shall not assign, transfer, sublet or part with the
possession of the Leased Premises or any portion thereof without the
prior written consent of the LESSOR.

b) The Leased Premise shall be solely used by the LESSEE and her
family members for the residential purposes only.

9. HANDOVER

a) The LESSEE shall handover vacant possession of the Leased Premises

to the LESSOR on termination of this Leased Deed in the same
condition as it was handed over to the LESSEE at the commencement
of the lease term.

b) It is further agreed that the LESSEE shall hand over to the LESSOR
all built in fixtures and fittings and similar improvement made in the
Leased Premises in the same condition in which it was handed over.
Damages if any shall be to the account of the LESSEE and shall be
adjusted from the Interest Free Refundable Security Deposit however
if the damages exceeds the amount kept as Interest Free Refundable
Security Deposit then such excess amount shall be recoverable from
the LESSEE by the LESSOR.

10. RESPONSIBILITIES OF LESSEE

a) The LESSEE shall pay the Lease Rent, maintenance charges,

electricity bills (if applicable) and such other sums payable for the
said premise under this Lease Deed in timely manner on or before
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the respective due date (whether demanded or not) by way of either

cheque or Demand Draft payable at ________.

b) The LESSEE shall subject to reasonable wear and tear keep the said
premise in good habitable condition.

c) That the LESSEE shall not bring in the Leased Premise any harmful,
obnoxious object which is harmful to the occupants residing in the
building in which the Lease Premise is situated.

d) The LESSEE covenants that the Lease Premise shall only be used for
the residential purposes and no other purpose.

e) That the LESSEE on the termination of this Lease Deed shall

immediately pay to the LESSOR all amounts due/ pending on all
accounts like lease rent, maintenance charges etc.

f) LESSEE shall indemnify and keep indemnified the LESSOR with

regard to any loss/ damage suffered by the LESSOR in relation to the
said premise as a result of the LESSE’S negligence.

g) The LESSEE shall observe strictly the terms and conditions of this
Lease Deed.

h) That the LESSEE shall after the termination of the said LEASE
DEED, deliver the paid copies (proofs) of the bills towards
Maintenance Charges in order to get the clearance certificate from the
RWA that there are no outstanding dues from the LESSEE.

11. RESPONSIBILITIES OF LESSOR

a) The LESSOR covenants that the LESSEE shall peacefully enjoy the
said premise without any hindrance, obstruction.

b) LESSOR shall keep indemnified the LESSEE against all actions,

suits, proceedings and all costs, charges, expenses, losses, damages
incurred or suffered by the LESSEE by reason of breach, non –
observance, non – performance of the terms and conditions of this
Lease Deed.
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c) LESSOR shall keep indemnified the LESSEE for any third party
title/ interest arising in respect of the above said premise.

d) LESSOR further covenant that during the subsistence of this Lease

Deed the LESSOR shall not sub lease or sell/ dispose off or part
away with the Leased Premise.

12. ALTERATIONS AND ADDITIONS:

a) The LESSEE shall not carry out any structural alterations or

additions or changes in the said Property. The LESSEE shall
however be entitled to hang paintings and wall-mounted Television
or Music System or other appliance as required on the wall and for
that purpose put nails/ fittings in the wall.

b) At the time of the LESSEE vacating the Leased Premises, the

LESSEE shall hand over to the LESSOR the Property after removing
/ repairing all the damage done by the putting of nails / fittings in the
wall) without any cost to the LESSOR.

c) The LESSEE shall keep the interior of the Leased Premises and the
fittings and fixtures including electrical, sanitary and plumbing
therein in good and tenable repair and condition at her own cost.

d) The LESSOR shall be responsible at his cost for carrying out any
major repairs/ damages of the said premises which are not
attributable to the LESSEE.

13. INSURANCE:

a) The LESSOR at her own cost and expense, during the continuance of
this Lease Deed insure and keep insured with an insurance company
the Leased Property against loss and damages by fire, lightning
explosion from domestic gas appliances and other common perils as
are customary in the area for the fair market value of said Property.

b) The LESSOR shall not be held responsible for any damage that may
be caused by act of force – majeure, to the LESSEE, her family or
any of her agent /or other invitees to its premise or the furniture and
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materials stored in the said Premise whether by fire, rain, leakage,

breaking or burning of wire pipes, or due to electricity or wire
installation, war, theft act of earthquake or by any other cause or
causes whatsoever.

14. TAXES:

a) All present and future taxes or levies in respect of the ownership of

the said premise like property tax, tax levied by the municipality or
by a Government or any other local or public body or authority in
respect of the said Premise shall be borne by LESSOR.

b) Any other taxes like taxes levied on the maintenance charges or any
lease rent in respect of the above said premise etc. shall be borne by
the LESSEE.

c) The LESSEE shall while making the payment of the lease rent is
required to deduct the applicable TDS (Tax Deduction at Source)
under the Income Tax laws as may be applicable from time to time
and the LESSEE agrees to pay the tax so deducted at source to the
tax authorities and furnish evidence of such payment to the
LESSOR.

15. STAMP DUTY

The Stamp duty and all other charges, if any, payable in respect of this
Lease Deed shall be solely borne by the LESSEE.

16. ENTRY FOR INSPECTION

a) The LESSOR or her authorized representative shall have absolute

right and full liberty to enter upon the Leased Premise at any time
after giving a proper notice of 48 hours to inspect the Leased
Premises and its electric fittings, fixtures and furniture, articles and
things etc., at all reasonable times to see to its safety and proper
maintenance and also to exercise the control over the Leased
Premises in accordance with the terms of this Lease Deed.
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b) That upon the expiry of the period of this Lease Deed or premature
termination, the LESSOR shall have the right to prevent the LESSEE
from entering upon the said Property and using the furniture, articles
and things of the LESSOR. The LESSEE shall remove all her
belongings at the time of termination of this Lease Deed on failure to
do so, the LESSOR are entitled to remove the same from the said
Property at the entire risk and cost of the LESSEE.

17. GENERAL PROVISIONS

I. NOTICE

All notices under the Lease Deed will be in writing and shall be valid
and sufficient if dispatched by Registered Courier or by personal
delivery or by e-mail, at the addresses herein mentioned below. All
the notices and other communications shall be deemed to have been
duly given on the expiry of 07 days after the Registered Courier, in
case of an e-mail the date on which the said mail was sent and in
case of personal delivery on the date of delivering.

LESSOR LESSEE

II. ENTIRETY

This Lease Deed including the attached Annexures, constitutes the

entire agreement between the LESSOR and LESSEE with respect to
the said premise and supersedes any other prior oral or written
communications, representations or statements with respect to the
transaction contemplated in this Lease Deed.

III. SEVERABILITY

This Lease Deed shall not be modified, altered or amended in any

manner except by an agreement in writing executed by the parties. If
any provision of this Lease Deed is invalid or unenforceable or
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prohibited by law, this Lease Deed shall be considered separate from

such a provision and such provision shall be inoperative and
severed. The remainder of the Lease Deed after severing the said un-
enforceable provision shall be valid, enforceable and effective.

IV. BINDING OBLIGATIONS

This Lease Deed and all the rights, interests, duties shall be for the
benefits if and shall be binding on the parties and their respective
representatives and permitted assigns.

V. GOVERNING LAWS

This Lease Deed shall be governed by the laws of India.

VI. DISPUTE RESOLUTION

That initially when dispute arises the parties shall make an attempt to
resolve the same amicably. However, if the dispute is not resolved
amicable then through joint discussion the matter shall be referred to
the Sole Arbitrator mutually appointed by the parties, whose award
shall be binding upon the parties. The Arbitration shall be conducted
as per the Arbitration and Conciliation Act, 1996 and the seat of the
Arbitrator shall be______. The language of the Arbitration shall be
English and the courts of ______ shall have the sole jurisdiction to
adjudicate the matter.

VII. FORCE MAJEURE

a) Neither party shall be liable to the other for any failure to perform
any of its obligations (except the payment obligations) under this
Lease Deed during any period in which such observance of the
terms of this Lease Deed is delayed due to a force Majeure. If the
force majeure event lasts longer than 30 days this Lease Deed
shall be terminated automatically.

b) If at any time during the subsistence of this Lease Deed, the said
building or the said Property be destroyed or damaged by fire,
tempest, earthquake, accident, act of God, war or due to any other
cause beyond the control of the LESSEE so that the said Property
becomes unfit for occupation, then this lease shall forthwith stand
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terminated and the LESSOR shall forthwith refund to the LESSEE

the amount of Security Deposit and all outstanding amounts, if
any, payable by the LESSOR to the LESSEE.

VIII. COUNTERPARTS

This Deed may be executed in any number of counterparts, all of

which together shall evidence and constitute the same transaction.

IN WITNESS WHEREOF the parties hereto have set and subscribed their
hands the day and the year above written in the presence of the following
witnesses.

LESSOR LESSEE

(____________) (______________)

Witness:

1.

2.
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Annexure A

Details of the Leased Premise

Type of Property : Residential Property

Address:

Village:

Area of Property

Open Terrace Area

Details of Fixtures and Fittings