LEASE DEED
THIS
LEASE DEED (“Deed”) is executed on this __________day of July2024at Surat.
BETWEEN
1) MR. ABC(PAN: AGGGGGGGG), AGE 22 YEARS,
(2) MS. PQR AGE 44 YERS, residing at, _____________________________________,
SURAT-395005.hereinafter collectively referred to as “THE LESSOR” which term
shall, unless repugnant to or inconsistent with the context, mean and include theirlegal
heirs, executors and administrators of the ONE PART.
AND
BGP PRIVATE
LIMITED (PAN: BDDDDDDDD), (CIN: U7499MH2004PTC148401) a company registered under the Companies Act,
1956 and having its Registered Office at _________________________________________,
Mumbai 400013, through its Authorised Signatory, MR. HMNP , authorized vide Board Resolution dated
_______________, , hereinafter referred to as “THE LESSEE”, which term shall,
unless repugnant to or inconsistent with the context, mean and include its successors
and permitted assigns OF THE OTHER PART;
The terms “the LESSOR”
and “the LESSEE” are hereinafter collectively referred to as “the Parties” and
individually as “the Party”.
WHEREAS:
1. The
LESSOR has acquired and purchased from M/s. H. R. Heights Unit No.-205 on 2ndFloor
of the commercial building project known as “SOLARIS BAY VIEW”, registered under the Gujarat Real Estate
Regulatory Authority (“RERA”), having the Registration Number: ________________________________________________.
The LESSOR has confirmed that the aforesaid project is currently under
development and a society/association of persons will be formed after
completion of the aforesaid project.
2. Accordingly,
the LESSOR is the absolute owner of the commercial property, being Unit No.-______________________________________________________,
Dumas Road, Piplod, Surat, Gujarat395007, hereinafter referred to as the ‘SCHEDULED
PROPERTY’ and more particularly
described in Schedule ‘A’ written
hereunder.
3. The LESSEE
is a company engaged in the business of trading in high-end fashion garments
and accessories under its brand name “____”.
4. Based
on the representation made by the LESSEE, the LESSOR has agreed to grant lease of
the SCHEDULED PROPERTYto the LESSEE on the terms and conditions as mentioned in
this Lease Deed.
5. The LESSOR
has confirmed that the SCHEDULED PROPERTY has been constructed, erected and
completed in accordance with the sanctioned plans of the Surat
Municipal Corporation, its Rules and Regulations and the LESSOR has
obtained necessary sanctions, approvals and clearance from the appropriate
authorities for the same. The LESSOR further covenants that the SCHEDULED
PROPERTY is authorized to be used for commercial purposes. Surat Municipal
Corporation has granted Occupation Certificate to the Building “Solaris Bay
View”.
6. The
LESSEE is desirous of utilizing the entire SCHEDULED PROPERTY more fully described
in the Schedule‘A’ written hereunder to be taken on lease from the LESSOR on
the terms and conditions appearing hereinafter and the LESSEE has authorized one
of its officials, MR. JGDD to execute and register this Lease Deed for and on
behalf on the LESSEE for, “______” Store or any other brands of the LESSEE.
The Parties
hereto agreed to reduce the terms and conditions mentioned herein.
NOW
THIS LEASE DEED WITNESSETH AS FOLLOWS: -
That in
pursuance of the above said covenants, the LESSOR and the LESSEE do hereby
mutually agree as follows:
1. This lease of the SCHEDULED PROPERTY shall be initially for a period of
15(fifteen)years commencing from ____2024
and ending on_____2039,hereinafter referred to as the “Lease Period”.
2.
The entire Lease Period shall be the lock-in
period for the LESSOR, subject to the terms herein contained, and the LESSEE
shall havea lock-in period of
initial 4 (four) years from the Possession Date i.e. from_____ 2024.During
their respective lock-in period, neither Party shall be entitled to terminate
the Lease Deed unless otherwise stated in this Deed. If either Party commits a breach
of any of the terms of this Deed and fails to rectify the same despite being
given 30 (thirty) days’ written notice to do so, then the non-defaulting Partymay
terminate this Deed. Notwithstanding the agreed lock-in period. If the LESSEE terminates
this Deed during the lock-in period despite no fault of the LESSOR, only then
the LESSEE shall pay the LESSOR the Lease Rent for the unexpired lock-in period and
the same may be adjusted out of the Security Deposit and balance Security
Deposit shall be refunded to the LESSEE. If the Security Deposit is
insufficient to adjust the payment for the unexpired lock-in period after
adjustment of other dues, the LESSEE undertakes to pay the same to the LESSOR
forthwith. Both Parties agree that if
possession of the SCHEDULED PROPERTY is not handed over to the LESSEE on 2024(“the
Possession Date”), then the LESSEE reserves its right to terminate this Lease
Deed forthwith and the LESSOR shall forthwith refund any monies already paid by
the LESSEE to the LESSOR along with interest at the rate of 18% p.a. from the
date of the LESSEE having paid the same to the LESSOR till the date of actual
refund.
3.
During the Lease Period, the monthly rent
(“Lease Rent”)for the SCHEDULED PROPERTY shall be paid by the LESSEE to the LESSOR
as follows and the payment of the Lease Rent shall start from the Rent Commencement
Date:
i.
Rs.70/- (Rupees seventy only) per square
foot of the carpet area aggregating to. Rs.____________/-for the first three
year period.
ii.
From the beginning of the fourth year from the
Rent Commencement Date, the Lease Rent shall be subject to an escalation of 15% after every 3 (three) years,
over the last paid Lease Rent.
iii.
The schedule for payment of Lease Rent exclusive
of GST is as follows:
|
No. of Years |
Unit No.205 623 sq. ft. |
|
|
|
||
|
RATE (Rs.) |
AMOUNT |
|
|
1st
year |
@70/- |
43610/- |
|
2nd
year |
@70/- |
43610/- |
|
3rd
year |
@70/- |
43610/- |
|
4th
year |
15% Esc |
50151/- |
|
5th
year |
No change |
50151/- |
|
6th
year |
No change |
50151/- |
|
7th
year |
15% Esc |
57675/- |
|
8th
year |
No change |
57675/- |
|
9th
year |
No change |
57675/- |
|
10th
year |
15% Esc |
66325/- |
|
11th
year |
No change |
66325/- |
|
12th
year |
No change |
66325/- |
|
13th
year |
15% Esc |
76274/- |
|
14th
year |
No change |
76274/- |
|
15th
year |
No change |
76274/- |
The payment of Lease Rent shall be
subject to the deduction of Income Tax at Source and the LESSEE shall provide
TDS certificates and TDS challans within 60 (sixty) days from the end of the
quarter in which, it is deducted, as per the provisions of the Income-tax Act,
1961.
4.
There will be a Rent-Free period of150days (or commencement of commercial
operation date, whichever is earlier) from the Possession Date i.e. from ___2024 to ___/2024to enable the LESSEE to
do the interior work in the SCHEDULED PROPERTY. The LESSOR shall obtain all
permissions required for the same from appropriate authorities. The Rent-Free Fit-Out
Period shall stand automatically extended proportionately if the LESSORis not
able to obtain the said permissions within the timelines required by the LESSEE.
The
LESSEE has already paid an amount of Rs.43,610/-(Rupees forty
three thousand sixhundred ten only)to the LESSOR towards Interest-Free
Refundable Security Deposit (“IFRSD”) on _____________ and a further amount of Rs.1,30,830/-(Rupees onelakh
thirtythousand eight hundred thirtyonly)shall be paid by the LESSEE to the LESSOR
towards the Interest-Free Refundable Security Deposit on the date of executing
this Lease Deed by both the Parties. The total Interest Free Refundable
Security Deposit is Rs.1,74,440/-
(Rupees onelakh seventy-fourthousand fourhundredforty only) equivalent to 4
(four) months’ Lease Rent of the SCHEDULED PROPERTY. The LESSOR shall not
demand any additional deposit including additional IFRSD during the term of
this Lease Deed.
If,
during the Rent-Free Fit-Out Period available to the LESSEE, the LESSOR in
writing demands the LESSEE to stop the Fit-Out workfor the reason not
attributable as a default of the LESSEE, then the LESSOR shall extend the Rent-Free
Fit-Out Period by such number of days when the LESSEE’s work was stopped as per
LESSOR’s written demand.
5.
Upon the termination or sooner
determination of this Lease Deed, the LESSEE shall discontinue to usethe SCHEDULED
PROPERTYand shall remove all its stocks, fixture and fittings from the SCHEDULED
PROPERTY. Further, on handing over the possession of the SCHEDULED PROPERTY,
the LESSOR shall retain an amount equivalent to an average of immediately
preceding 6 (six) months’ electricity charges towards outstanding unbilled
electricity charges (“Retained IFRSD”)
andsimultaneously refundthe balance IFRSD (“Part IFRSD”) to the LESSEE subject
to reasonable and agreeddeductions under this Deed, if any, towards damages
(except normal wear and tear) and/or arrears of Lease Rent or other dues, if
any, under this Deed. If the LESSOR fails to refund the IFRSD to the LESSEE
within the due dates as agreed, then the LESSOR shall be liable to pay an interest
at 18% p.a. on the amount ofIFRSD remaining unpaid on the due dates,till its
repayment. Additionally, without prejudice to the rights of the LESSEE under
law, the LESSEE shall be entitled to continue its occupation of the SCHEDULED
PROPERTY without being liable to pay any compensation to the LESSOR until the Part
IFRSD is refunded to the LESSEE. The Retained IFRSD shall be repaid to the
LESSEE after 1 (one) month of handing over possession of the SCHEDULED PROPERTY
to the LESSOR.
6.
The LESSEE shall pay the monthly Lease Rent
as stipulated hereinabove in advance on or before 7thday of each
calendar month.The LESSOR shall provide monthly valid GST compliant Tax Invoice
to the LESSEE on 1st day of every month. It is agreed between the Parties
that the LESSEEshall not be under the obligation to pay Lease Rent to the LESSORif
a valid GST compliant Tax Invoice is not received by the LESSEE as specified
hereinabove. In case of delay in payment of Lease Rent isfor more than 1 (one)month,
then without prejudice to the other rights available to the LESSOR, the LESSEE
will be liable to pay to the LESSORthe Lease Rent along with interest at the
rate of 18% p.a. till the date of payment. The LESSEE paying the Lease Rent herein
reserved regularly and observing the covenants on its part to be performed,
shall peacefully and quietly enjoy the use of the SCHEDULED PROPERTY without
any hindrance by the LESSOR or anyone claiming under or through the LESSOR. If
theSCHEDULED PROPERTY is closed or if there is any hindrance in its use on
account of any acts of the Building Society for betterment of Building or due
to any orders
or act of Government/appropriate
authorities or any person claiming rights through the LESSORthen, no Lease Rent
will be payable during such period of such
hindrance continuing and if the same
continues for more than 30 (thirty) days, then the LESSEE may terminate this
Lease Deed and the LESSOR shall refund the PartIFRSD and one month Lease Rental of each such
premises separately, and the Retained IFRDS after adjustment of Part IFRSD
shall be paid after 1 (one) month of handing over possession of the SCHEDULED
PROPERTY to the LESSOR.
7.
The LESSORalone shall be liable to pay property
tax as well as other municipal taxes and all other public dues relating to the SCHEDULED
PROPERTYor its use including any future levies thereof. The Goods and Services
Tax (GST)on the Lease Rent,if any, shall be paid by the LESSEE to the LESSOR as
applicable from time to time and the LESSOR shall provide tax paid challans
each month to evidence deposit of the same with the appropriate tax collection
authority. The LESSEE shall pay the power bill based on the power actually consumed
in the SCHEDULED PROPERTY and the water bill for water actually consumed in theSCHEDULED
PROPERTY and bills for the other utilities including telephone and internet,
during the Lease Term. If the LESSEE in the following month does not get input
credit of the GST paid to the LESSOR in payment of Tax Invoice of the LESSOR
for Lease Rent because of any default attributable to the LESSOR, then the
LESSEE shall not be liable to pay the GST claimed by the LESSOR in the subsequent
monthsand such non-payment of GST by the LESSEE shall not be construed as a
default by the LESSEE of the terms and conditions of the Lease Deed.
8.
The LESSOR agrees to permit the LESSEE
to enter and use the SCHEDULED PROPERTY from ___ 2024i.e.the Possession Datefor the entire Lease Period and any
renewals thereof. The LESSOR shall ensure that a minimum of____KVAof electricity loadis made available
in the SCHEDULED PROPERTY by such date. Both the Parties confirm that the Lease
Rent will be payable from ____2024, and the period from 2024 to 2024shall be the Rent-Free Fit-Out Period to enable the LESSEE to carry out the
interior work.
9.
The LESSOR has represented that the
total sanctioned electricity load for the SCHEDULED PROPERTY is____ KWwith a separate
meter to record the electricity consumed exclusively by the LESSEE. The LESSEE
shall pay the electricity bills for power consumed from the Date of Possessionas
recorded in the separate meter provided for the SCHEDULED PROPERTY. However, if
the LESSEE wants additional load of electricity, if permissible, for running its
business, then the LESSOR shall apply and obtain the same for which, cost will be
borne by the LESSEE on actuals. It is
further clarified that any additional deposits to be paid for such additional electricity
load shall be borne by the LESSEE only.
10.
The LESSEE shall not make any additions,
modifications, improvements or alterations of a permanent nature to or erect
any permanent structure upon or to theSCHEDULED PROPERTY without the express
prior consent in writing of the LESSOR. The LESSEE shall be entitled to
renovate the interiors at its own costs and expenses as per its own plans and
specifications including providing furniture and fixtures, installation of air
conditioning system, generators for power
back-up, electrical panels etc. within the SCHEDULED PROPERTY. The LESSOR
confirms that it shall provide all assistance to the LESSEE in securing permission
for the LESSEEto carry out interior works. This will include signage work/
glazing work/ false partitions being put up within the SCHEDULED PROPERTY.
11.
The LESSOR shall provide in the
SCHEDULED PROPERTY a cut out for an elevator including elevator shaft and MS
framework as per the specifications provided by the LESSEE and also internal staircase
connecting the Ground Floor, Upper Ground Floor and second floor. A hydraulic elevator
shall be provided by the LESSOR for which, the contribution of the LESSOR shall
be up to a maximum limit of Rs.12,50,000.
12.
Finishing of the staircase connecting the
Ground Floor,Upper Ground Floor Shops and second floor shall be done by the
LESSEE as per its own design requirements.
13.
The LESSOR shall carry out the entire
flooring work of vitrified tiles in the SCHEDULED PROPERTY up to Rs.70 per
square foot as per the tile selection of the LESSEE.
14.
Civil, plumbing, waterproofing work for
toilet blocks and pantry shall be done by the LESSOR as per the designs
provided by the LESSEE. All sanitary fittings including tiles up to Rs.70 per
square foot shall be provided by the LESSOR as per the selection of the
LESSEE.
15.
Specific structural alterations such as
windows, demolition of wall separating two Units in the SCHEDULED PROPERTY
shall be carried out by the LESSOR at its own cost.
16.
The LESSEE shall be entitled to all
common amenities and supply of Municipal water as are available in the complex /building
and as are maintained by the Association / Society or any other person
in-charge and the LESSEE shall pay the maintenance or charges for such
amenities as per Clause 22 hereinafter
17.
That the LESSEE, its employees, agents, customers, and other persons
authorized by the LESSEE shall have the full right and authority to use the SCHEDULED
PROPERTY, provided that all such persons, shall be bound by the obligation to
use the facilities with due care and caution as per provisions of this Deed and
as per the rules and regulations set out by the Society / Association as the
case may be, which shall be formed.
18.
The parking area in front of the SCHEDULED
PROPERTY shall be exclusively available for
use of the LESSEE and shall be
considered dedicated parking for the LESSEE's use. However, side parking
facilities shall be shared and deemed common for all occupants of the complex.
19.
The LESSEE shall have exclusive rights
to signage placement on the 1stFloor, Shop No.UG-03of the complex,
including all vertical covered columns and space designated for a digital LED
screen at its own costs. Additionally, the LESSOR shall provide a prominent
space to the LESSEEfor its promotional display as per mutually agreed
specifications.
20.
After the formation of the Society/Association,
the LESSEE shall remit to the LESSOR the Society Maintenance Charges, as may be
levied by the Society/Association, up to a maximum limit of Rs.5/- (Rupees five
only) per square foot of the carpet area.
21.
The LESSEE shall not sub-lease, sub-let
or assign or part with the possession of the SCHEDULED PROPERTY in whole or in
part thereof or permit the use of the same by anybody else under any
arrangement whatsoever, except to the LESSEE’s group/associate companies with
prior intimation to the LESSOR. The LESSEE is, however, permitted to appoint
any third party as a franchisee/ nominee of the LESSEE to operate the showroom in
the SCHEDULED PROPERTY as well as permit any third party to carry on its
business from a part of the SCHEDULED PROPERTYto retail the LESSEE’sbrand of
products. The LESSEE shall ensure that such third party alsoshall
be bound by the terms of this Lease Deed and shall take due care while using
the SCHEDULED PROPERTY. It is made clear
that the possession of the SCHEDULED PROPERTY shall remain with the LESSEE only
and the LESSEE shall only be liable to pay the agreed Lease Rent and all other
charges as agreed under this Lease Deed and shall be primarily responsible for
all compliances under this Deed.
22.
The LESSEE shall, during the term of
this Lease Deed, at its own costs keep the SCHEDULED PROPERTY in good and tenantable
condition (normal wear and tear excepted) and shall be responsible for
undertaking at its cost all minor repairs to the SCHEDULED PROPERTY as may be
required from time to time. The LESSOR shall, however, be solely responsible
for all major repairs to the SCHEDULED PROPERTY including but not limited to
leakage and seepage, damages to the structure, etc. If the LESSOR fails to
carry out such major repairs to the SCHEDULED PROPERTY or fails to attend to
the leakage or seepage to the SCHEDULED PROPERTY, then after giving a notice in
writing to the LESSOR, the LESSEE may carry out all such major repairs to the
SCHEDULED PROPERTY and thereupon adjust the expenses incurred by the LESSEE
against the future Lease Rent payable by the LESSEE to the LESSOR.
23.
The LESSEE, during the term of this Lease
Deed,shall ensure that the stocks and interiors are insured adequately against
risks, fire, floods, riots, etc. The LESSORalone shall insure the SCHEDULED
PROPERTY from all possible risks and in no way the LESSEE shall be responsible
for any structural or other loss to the Building or other items in the event
the LESSOR does not insure the SCHEDULED PROPERTY.
24.
The LESSEE shall use the SCHEDULED
PROPERTY exclusively for the purpose of its business
25.
The LESSOR’s agents/servants may enter
the SCHEDULED PROPERTY during the normal business hours of the LESSEE to
inspect the same after giving 24 (twenty-four) hours’ notice in writing for the
same to the LESSEE.
26.
The LESSEE shall maintain fire
extinguishers and other fire-fighting equipment in the SCHEDULED PROPERTY and except
for two (2) cooking gas cylinders required in the pantry, the LESSEE shall not store
any inflammable, hazardous, banned or combustible article or engage in any
illegal activities in the SCHEDULED PROPERTY.
27.
The LESSEE shall deduct Income Tax at
Source including Surcharge (if any) from Lease Rent as per the rates applicable
under the Income Tax Rules,1962 as may be prescribed from time to time and
deposit the same to the respective Government Account and issue a TDS
certificate to the LESSOR as per the timelines as prescribed under law.
28.
After expiry of the lock-in period of
initial 4 (four) years from the Possession Date, the LESSEE alone shall have
the option to terminate this Lease Deed by giving 3 (three) months’ notice in
writing to the LESSOR. During such notice period, the LESSEE has the option to
withhold the monthly Lease Rent for the last month and
adjust the same against the IFRSD. Accordingly, the LESSOR shall deduct the
said notice period Lease Rent from the IFRSD and refund the Part IFRSD as per Clause
4 aboveto the LESSEE simultaneously with the LESSEE handing over the vacant and
physical possession of the SCHEDULED PROPERTY to the LESSOR and the Retained
IFRSD after adjustment of Part IFRSD shall be paid after one month of handing
over possession of the SCHEDULED PROPERTY. The LESSOR has no right to
terminate this Lease Deed during entire Lease Period except as provided under Clause
33 below.
29.
The LESSOR is aware that the LESSEE will
use the SCHEDULED PROPERTY as a showroom for its products. Any fine, penalty or
charge that may be imposed by Government or any other authority for use of the
SCHEDULED PROPERTY as commercial premises, if not attributable to any
negligence or breach by the LESSEE, will be borne by the LESSORalone and will
be paid by the LESSOR within the time stipulated in the order to ensure the
peaceful occupancy of the SCHEDULED PROPERTY by the LESSEE. The LESSOR will also assist the LESSEE in executing documentation in its
capacity as the owner of the SCHEDULED PROPERTY for obtaining any license that
may be required by the LESSEE for use of the SCHEDULED PROPERTY for conducting
its business. The LESSOR further agrees and undertakes to indemnify and keep
indemnified the LESSEE against all claims, demands, suits, actions or other
proceedings that may be brought or instituted against the LESSEE in respect of
the LESSEE using SCHEDULED PROPERTYfor commercial purposes provided the
liability does not arise for any act or omissionsif not
attributable to the LESSEE.
30.
Without prejudice to the foregoing Clause,
if any fine, penalty or fee is levied by Government / statutory authority for
permitting the commercial use of the SCHEDULED PROPERTY, it shall be borne by
the LESSORalone and such fine, penalty or fee will not entitle the LESSOR to
terminate the Lease Deed, provided the liability is not attributable to any
negligence or breach by the LESSEE. The LESSOR shall also ensure that any
proceedings initiated by the Government or any authority for this reason, do
not interfere with the LESSEE’s enjoyment of its rights and entitlements under
this Lease Deed.
31.
If the Lease Rent hereby reserved
continues to remain unpaid for a period of 2 (two) consecutive months after
becoming due and the default continuing inspite of the LESSOR having issued one
month’s notice in writing to the LESSEE in this regard, then theLESSOR shall
thereafter be entitled to determine this Lease Deed and enter and take
possession of the SCHEDULED PROPERTY without prejudice to the right of action
of the LESSOR.The LESSOR shall also be entitled to terminate the Lease by
giving 1 (one)months’ noticein writing to the LESSEE if the LESSEE commits any
breach of its material obligations under this Deed and fails to rectify such breach
within 1 (one) month of receiving such a notice in writing from the LESSOR to
rectify such breach. The LESSEE shall continue to be liable for all payments
under this Deed, including the liability to pay for the lock-in period if the LESSOR
exercises its right to terminate the lease under this Clause.
32.
The LESSEE shall hand over vacant
possession of the SCHEDULED PROPERTY in good condition to the LESSOR, except
normal wear and tear permitted, at the expiry of the term of this Lease Deed or
sooner determination thereof, and the LESSEE shall be liable to make good any
damages caused to the SCHEDULED PROPERTY at the cost of the LESSEE, except
normal wear and tear and Force Majeure Clause.
33.
The LESSOR, at the request and cost of
the LESSEE, will do or cause to be done, execute or cause to be executed all
documents, deeds, things etc. as may be required by the LESSEE for the purpose
of bringing into effect all the terms, conditions and covenants mentioned
herein and this Lease Deed and for the purpose of assuring the peaceful and
effective possession,use and enjoyment of the SCHEDULED PROPERTY by the LESSEE.
35.
Upon the occurrence of any of the Force
Majeure events like fire, accident, riots, flood, earthquake, storm, terrorist
activities, war, Act of God, which results in closure of business of the LESSEE
in the SCHEDULED PROPERTY, it shall be declared an event of Force Majeure. It
is clarified that a Force Majeure event will be declared as such only if such
an event affects the physical condition of the SCHEDULED PROPERTY resulting in
the LESSEE being unable to conduct its business or have access to the SCHEDULED
PROPERTY but such event shall not include any other event such as but not
limited to business recession and economic breakdown. It is also clarified that
in the event of closure of business of the LESSEE in the SCHEDULED PROPERTY
solely on account of Force Majeure, then in such event, the Lease Rent shall
not be payable during the subsistence of such Force Majeure. In such event of Force
Majeure and if the same continues for more than 60 (sixty) days then the LESSEE
may at its option terminate this Lease Deed and the LESSOR shall refund to the
LESSEE thePart IFRSD as per Clause 4 and the Retained IFRSD after adjustment of
Part IFRSD shall be paid after one month of handing over possession of the
SCHEDULED PROPERTY to the LESSOR.
36.
The Parties hereto agree that in the
event of the LESSOR selling or in any manner transferring the SCHEDULED
PROPERTY to any other person(s) or entity(ies), on such sale or transfer, the purchaser(s)or
the transferee(s)of the SCHEDULED PROPERTY shall be bound by the terms of this Lease
Deed including but not limited to refund of IFRSD as per the terms of this Deed
and the renewal thereof and the Lease Rent shall be paid to such purchaser(s) or transferee(s) on
receipt of information of such sale or
transfer and after receiving the name of the purchaser(s) or the transferee(s).
The LESSOR shall obtain a letter from such purchaser(s) or transferee(s)
acknowledging that such purchaser(s) or transferee(s) is bound by the terms and
conditions of this Deed and handover the letter to the LESSEE. However, before
any such sale or transfer of the SCHEDULED PROPERTY, the LESSOR shall fully
perform its obligations to the LESSEE as specified in Clause Nos.11 to 16 of this
Deed. It is further clarified that the LESSEE is entering into this Lease Deed
for the SCHEDULED PROPERTY, viz. Shop Nos.G-03 with the LESSOR herein and Shop
Nos.G-03, G-04 and UG-04 by execution of
separate Lease Deeds with another Lessors. However, it is clarified that
Shop Nos.G-03 and G-04 on the Ground Floor and Shop Nos.UG-03 and UG-04 on the
Upper Ground Floor of the Building ‘Solaris Bay View’ shall always be a
combined Showroom of the LESSEE, irrespective of the said 4 (four) Shops being
sold or transferred to different persons or entities. The Lessee however
acknowledges that the terms of the lease will be separately negotiated with
each of such individual owners /owner entities and the respective lease
agreements shall contain similar rights and obligations which shall be enforced
separately under such lease agreements.
37.
Any notice under this Lease Deed shall
be in writing and may be served on the LESSOR at the address mentioned above by
Registered Post with Acknowledgment Due. All notices to the LESSEE will be
addressed to its Chief Financial Officer at the RegisteredOffice of the LESSEE,
by Registered Post Acknowledgement Due.
38.
The LESSOR and LESSEE shall share the Stamp
Duty and Registration Fee in respect of this Lease Deed and other incidental
charges in equal proportion.
39.
This Lease Deed is executed in duplicate
and one copy of this Deed shall be retained by the LESSEE and the other copy
thereof by the LESSOR.
42. Any dispute arising out of this Deed shall
be subject to the exclusive jurisdiction of Courts at Surat.
SCHEDULE ‘A’
PROPERTY
The Unit located
on the 2ndFloor No.205admeasuring 623sq.
ft. Carpet Area in the Building known as “Solaris Bay View”, situate at T.P. Scheme No.6, beside Iscon
Mall, Opposite Rajhans Cinema, Piplod, Dumas Main Road, Moje Piplod, Taluka:
Chorasi, Surat395 007, Gujarat, bearing FP/Survey No.53/P,54, 55/P, R.S.No.65/2/P,
66/P, admeasuring in or about 2,563.43 Square Meters.
IN WITNESS
WHEREOF THE LESSOR AND LESSEE HAVE SIGNED THIS LEASE DEED IN DUPLICATE ON THE
DAY, MONTH AND YEAR FIRST HEREINABOVE WRITTEN.
|
FOR Unit no.205, 2nd FLOOR (LESSOR) |
FOR ABC Private Limited (LESSEE) |
|
Mr. Mr. |
me: HMNP
|
|
Signature: (Authorized Signatory) |
Signature: (Authorized Signatory) |
|
Witness: 1. |
Witness: 1. |
LESSOR
…………………………………………,
LESSEE
………………………,
No comments:
Post a Comment