AGREEMENT OF LEASE

This Agreement of Lease made on this the 1st day of June, 2023 by and between:

Sri. Chitemella Gouri Shanker (Aadhar Number 899414897200) S/o , aged about 65 years, resident of ….; Smt
Chitemella Bhagya Laxmi (Aadhar Number 777057645706) w/o Sri Chitemella Gouri Shanker aged about 60
years resident of ………

(Hereinafter referred to as “LESSORS”, which expression, unless repugnant to its meaning or context, shall
mean and include their heirs, successors, agents, legal representatives, executors, assignees, administrators etc.
ON ONE PART).

AND

NANO Educational Society, having its registered office at 1-8-702/18/2, 3 & 4, Pakhal Plaza, OU Road,
Nallakunta, Hyderabad - 500044, represented by Mr. Y Srinivas (Aadhar Number 657322582667) s/o late Sri.
Y Subrahmanyam, hereinafter referred to as ‘LESSEE’ of other Part, (which expression, unless repugnant to its
meaning or context, shall mean and include its successors, agents, and assignees).

Whereas the LESSOR is the owner and possessor of independent commercial building comprising of Cellar,
Stilt plus 5 upper floors, terrace constructed on Plot Number 79 admeasuring 493 Sq.Yds, having a builtup
area of 32000 sq ft comprising of 78 rooms with attached bathrooms, including the (a) space underlying the
walls and architectural projections (if any), (b) balconies and sit outs, and (c) all the common areas, common
amenities, facilities and services like lift-wells, staircase, etc (more fully described in the Schedule herein), situ-
ated at Survey of India Housing Cooperative Society, Madhapur, Ranga Reddy Dist., Telangana State.(Herein
after referred to as Scheduled Premises)

WHEREAS the Lessor is authorized to lease out the Scheduled Premises

WHEREAS, LESSOR and LESSEE herein have entered into Lease deed for the scheduled premises as per the
terms and conditions mentioned below:

NOW THEREFORE THIS LEASE DEED WITNESSETH:

1. PERIOD OF THE LEASE:

The lease shall commence from 15 th May 2023 and ending on 31st May 2028. On expiry of the lease period, the
parties herein may extend the lease for further period (s) on mutually agreed terms and conditions. The premises
will be handed over to LESSEE on signing of this agreement and payment of deposit as mentioned herein
below.

2. LEASE AMOUNT, MODE OF PAYMENT & ESCALATION:

LESSEE shall pay the monthly rents to the LESSOR, on or before 10 th day of each calendar month for the
previous month. Payment of rent and amenities (mentioned in Annexure – A) for the schedule mentioned
premises shall be Rs 9,00,000/- per month plus GST as applicable and are to be disbursed as mentioned below.

S.No. Name Percentage

1. Chitemella Gouri Shanker

2. Chitemella Bhagya Lakshmi

It is further agreed that the rent shall be enhanced by 6% every year on the rent amount paid for the previous
year and the lessee also agreed to pay an additional amount of Rs.20,000/- per month to the lessor upon
receiving 240 admissions and above for the academic year . It is mutually agreed between the lessee and the
lessor that the maximum residents residing within the premises will never exceeds beyond 300 individuals.

Apart from the rent, amenities, taxes and charges mentioned herein Lessee shall not be liable for any other
charges, taxes etc. Municipal taxes shall be borne by the lessor.

The applicable tax shall be deducted by the Lessee at source from the Rent, under the Income Tax Act. 1961
and the Lessee shall provide TDS certificates to the Lessor in respect thereof.

3. LOCK-IN PERIOD:

The LESSEE shall not terminate the Lease within the agreed lease period of 3 years which shall be treated as
Lock-in Period.

4. DEPOSIT:

The LESSEE shall deposit with the LESSOR a non interest paying refundable deposit of Rs. Sixty lakhs.. The
Lessor agrees that the entire Deposit will be refunded to the Lessee post a joint inspection of the physical prop-
erty to assess the degree of wear and tear following which the lessee should either restore the property to the
condition in which was handed over or the lessor has the right to forfeit the expenditure incurred towards the
restoration of the property from the security deposit and the remaining shall be paid back to the lessee.

5. CLASSROOMs, OFFICE ROOMs & DINING SPACE

The Lessor shall provide 5 Nos Classrooms, 1Office Room & Dining Space on stilt & Cellar as required.
6. ELECTRICITY & WATER:

The Lessor shall provide the Lessee during the Term and any renewal thereof adequate power and water supply(
Only Borewell and Municipal Water Connection, subject to availability), and furnish the electric, water and
sanitary connections etc., for the effective functioning of Lessee’s business . Any other charges including but
not limited to the ACD charges and other levied by the government and statutory authorities shall be borne by
the lessee. Sourcing of any external water supply including but not limited to water tankers etc are not under the
lessor scope of work . Any expenditure incurred towards external water sourcing are to be borne by the lessee.

The LESSEE shall pay water and electricity consumptions as per the bills periodically issued by the concerned
authority/departments from the date of possession.

The LESSOR has provided the Scheduled property with electricity supply infrastructure like transformer and 3
numbers of electric meters with quality wiring and fittings as prevalent in the market.

7. INTERNAL CHANGES & FIXTURES:

The lessee has the complete liberty to renovate , modify and restore the existing property/structure to his
requirements only through measures that are temporary / removable in nature . Any modification , restoration or
removal which is permanent in nature shall only be executed post written consent from the lessor . The lessee
shall also be responsible for the removal of temporary modifications /structures/entities and shall take the
complete responsibility for the expenditure incurred towards the removal post the expiry of the agreement/deed.

8. MAINTENANCE OF PREMISES:

The LESSEE shall ensure the proper maintenance of the Building. Damages caused due to natural calamities
and, structural damage to the building caused by the act of God or unforeseen calamity or construction defects
shall be borne by the LESSOR. Any other expenditure , including but not limited to the day to day repair ,
maintenance , painting and other charges , taxes , fines shall totally be borne by the lessee.

9. RIGHT OF ENTRY:

LESSEE shall permit the LESSOR or its authorized representatives to inspect the schedule premises and to
carry out any repairs at all reasonable times as and when necessary with prior information to the LESSEE.

10. SIGN BOARDS:

The LESSEE may install any board(s) depicting its name on the premises. However any tax levied by municipal
authorities on such boards shall be borne by the LESSEE.

11. PEACEFUL POSSESSION:

LESSOR hereby covenants with LESSEE that on LESSEE paying the rents hereby reserved and performing and
observing covenants and conditions herein contained shall peacefully and quietly hold, possess and enjoy the
said Scheduled premises during the said term without any unlawful interruption or disturbances by LESSORS
or anybody claiming through him.

12. TERMINATION:

The lessor has the complete right to terminate the agreement and take complete possession of the property in the
following cases:

1. In case of the lessee defaulting in the payment of complete rent before 10 th day of the month for two
consecutive months. The lessor shall provide the lessee with a defect cure period of 15 days to
amicably settle the dispute by paying the total pending dues/rent to the lessor. In case of the lessee
failing to do so, the lessor has complete right to terminate the agreement/deed, forfeit the security
deposit and take the complete handover of the physical property.
 2. In case the lessee using the property/building for any other purpose other than that agreed to the lessor
i.e of running an educational institution that is deemed illegal/unlawful as per the law of the land. The
lessor has the complete right to terminate the agreement/deed, forfeit the security deposit and take the
complete handover of the physical property and the lessee is responsible to reimburse any expenditure
incurred to the lessor in. In such a case the lessee shall completely indemnify the lessor for any event
related to the issue or its consequences.

3. In case of the lessee creating a disturbance/nuisance to the neighborhood/public in the surrounding area
leading to the residents complaining to the statutory authorities or the lessor. The lessor shall provide a
written intimation to the lessee to rectify the issue within a period of 15 days failing to which the lessor
has the complete right to terminate the agreement/deed, forfeit the security deposit and take the
complete handover of the physical property.

13. STAMP DUTY AND REGISTRATION:

All the charges towards the registration of the Lease agreement, if required, shall be borne by the LESSEE.

14. MODE OF ISSUE OF NOTICE:

Any notice to be given to the Lessors/ Lessee shall be considered as duly given if sent by the Lessee/Lessor and
delivered by hand, registered post, facsimile or established courier service to the party’s addresses specified be-
low or at such other address as such party notifies to the other from time to time and will be effective upon re -
ceipt.

If to the Lessee:
Y Srinivas, Director
NANO EDUCATIONAL SOCIETY
Pakhal Plaza
OU Road
Nallakunta
HYDERABAD
500044
If to the Lessor, then to:

Sri Gowri Shankar

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15. DISPUTE RESOLUTION:

Any dispute arising between the LESSOR and the LESSEE pertaining to this agreement shall be subjected to
arbitration by a mutually accepted arbitrator in the location of Hyderabad , Telangana, India and his award shall
be final. The bench of arbitration shall be in Hyderabad.

16. FORCE MAJEURE:

In the event the said premises or portions thereof is destroyed or damaged or rendered unusable due to natural
calamities or other irresistible force(s) the rent or rents reserved shall be paid as per the below mentioned format
post the assessment of the situation followed by a mutual and amicable agreement between the lessee and the
lessor.

1. 75% of the rent to be paid till the 30th day.

2. 60% of the rent to be paid from the 31st day till the 90th day.
3. 50% of the rent to be paid from the 91st day until the expiry of the lock-in period
The lessor and the lessee will come to an amicable solution about the rent payable upon assessing the then
market condition and subject to lessors’ scrutiny of the lessee’s business financials during the period.
17. MISCELLANEOUS:

In the event of LESSOR alienating the schedule premises during the subsistence of this Deed, the leasehold
rights of the LESSEE shall continue, and the LESSOR shall ensure that the rights of the LESSEE are attorned in
favour of such new owner(s) of the schedule premises.

That in the event of death of the Lessor, the legal heirs/ representatives/ successors of the Lessor are bound to
discharge all the responsibilities and obligations under the Lease deed.

18. CONFIDENTIALITY:

Both the parties herein shall maintain this understanding in strict confidence and shall not disclose the
commercial terms of this agreement to any third party without the consent of the other party in writing.

SCHEDULE OF PREMISES

All of land and building constructed with cellar, stilt and five upper floors as under: Cellar, Stilt plus 5 upper
floors, terrace constructed on Plot Number 79 admeasuring 493 Sq.Yds, having a builtup area of 32000.com-
prising of 78 rooms with attached bathrooms, including the (a) space underlying the walls and architectural
projections (if any), (b) balconies and sit outs, and (c) all the common areas, common amenities, facilities and
services like lift-wells, staircase, etc

Located at
and bounded by

On East : 30 feet road

On West : Neighbour’s plot
On North : Neighbour’s plot
On South : 60 feet road

In witness whereof the parties here to have put their hand and seal on this the 1st day of June 2023 in token of
their acceptance thereof

WITNESSES:

1 LESSEE

2. LESSORS