Lease Vizag (New)

 

LEASE AGREEMENT

This Agreement of Lease made on this 1 st day of April, 2013 at Vishakapatnam, A.P., BETWEEN Smt. Sarojini Gopinath, W/o. Sri.K.K.Gopinath, Aged about 58 years, residing at # 5 (191/5), Opp.Prime leela Apats., P & T layout, 1st Cross, Kurubarahalli, Bangalore – 560 086;

(Hereinafter (Hereina fter calledincludes the “Lessor” which expression shall unless legal opposed or repugnantand to the context hereof her heirs, executors, administrators, representatives assignees) assign ees) of the one part;  

AND

proprrie ieta tary ry co conc ncer ern n re repr pres esen ente ted d by its Pr Prop opri riet etor  or  M/s.Cheruku M/s.Cher ukuri ri Finance Finance, a prop Sri.Cherukuri Sandeep, Son of Ch.Appa Rao, Aged about 28 years, residing at Door   No.43-17-5, Flat No.503, Sivagiri Sivagiri Apartments, Apartments, Dondaparthi, Visakhapatnam, Visakhapatnam, Pin-530016; Pin-530016; (hereinafter called the “Lessee” which expression shall unless opposed or repugnant to the context hereof hereof includ includes es his heirs, executors, executors, admini administr strators, ators, legal legal represent representativ atives es and assignees) assign ees) of the other part. WHEREAS the Portion Lessor represent that she is theDoor absolute owner of the immovabl immovable property  being Western of Property bearing No.43-9-165, situated at eAllipuram All ipuram Ward Wa rd,, Venk Venkat atar araj aju u na naga gara ram, m, Di Divi vission ion No.31, No.31, TSN TSN colon colony y co comp mpri rise sed d in part part of  Sy.No.326, Sy.No. 326, Vishaka Vishakapatna patnam, m, Andraprad Andrapradesh, esh, measuring measuring about 240 Sq.Yards Sq.Yards or 200.66 Sq.Mtr Sq.M trs., s., togethe togetherr with with str structu uctures res thereo thereon n meas measur urin ing g about about 1682 1682 Sq.Ft., Sq.Ft., (29 (29’’ x 58’) 58’) (morefully described in the Schedule hereunder & which for the sake of brevity shall hereinafter be referred to as the ‘Schedule Property.’) And Whereas the lessor acquired the title title under Deed of Gift Gift dated 08-02-2001 08-02-2001 register registered ed as Document No.191/2001, No.191/2001, store stored d in CD No.31 No.314-1 4-1-19 -191 1 in the the Of Offfic icee of th thee Su Subb-Re Regi gist stra rar, r, Dwar Dwaraka akana naga gar, r, Vishakapatnam; AND WHEREAS the Lessee is engaged in the business of buying and selling used two wheelers wheel ers & finan finance ce and with with a view view to set up office office / establi establish shmen mentt at the Schedule Property, had entered into a Lease Agreement with the lessor on 12-7-2010, which was du duly ly regi regist ster ered ed as Docu Docume ment nt No.20 No.2070/ 70/20 2010 10 in th thee Of Offi fice ce of th thee Su Subb-Re Regi gist stra rar, r, Dwarakanagar, Vishakapatnam. Vishakapatnam. AND WHEREAS by efflux of time the aforesaid lease has been terminated and the Lessee is desirous of renewing the same and the Lessor has agreed to permit the use of the said  property on and subject to the terms and conditions hereinafter hereinafter contained.  NOW THEREFORE THIS LEASE DEED WITNESSES AS FOLLOWS: 1. That the Lessor has good and valid power / right / authority and no objection to grant the lease hereby in favour of the Lessee.

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2. That the Lessor hereby grants lease to the Lessee premises being Western Portion of  Property bearing Door No.43-9-165, situated at Allipuram Ward, Venkatarajunagaram, Di Divi visi sion on No.31 No.31,, TSN TSN co colo lony ny compr compris ised ed in pa part rt of Sy Sy.N .No.3 o.326, 26, Vi Vish shak akap apat atna nam, m, Andrap And raprad rades esh, h, measur measurin ing g about about 240 Sq.Yard Sq.Yardss or 2160 Sq.Ft., Sq.Ft.,No.2 No.27, 7, togethe togetherr with with structures thereon measuring about 1682 Sq.Ft., (29’ x 58’) Sq.Ft., 3. That this lease shall be in force for a period of 11 months commencing from 1st day of  Apri Ap ril, l,20 2013 13.. This This lea ease se sh shal alll be irre irrevo voca cabl blee for for th thee sa said id te term rm fr from om th thee date date of  commencement. 4. That the Lessee shall in consideration of the lease hereby granted by the Lessors shall  pay a total sum of Rs.25,000/- [Rupees Twenty Five Thousand Only] The said leas leasee rental shall be payable before the 10th day of each calendar month. 5. That all payments pertaining to this lease Agreement shall be made by the Lessee either  in Cash or by issuing account payee cheques / bank transfer in favour of the Lessor. 6. That the Lessee is already in physical possession of the Leased Premises together with all civic amenities & the Lessee during the term of lease shall take reasonable care of the Leased Premises and the fittings & Fixtures therein. The Lessee on termination or earlier  determination of this Agreement will restore the leased premises along with fittings and fixtures as at the commencement of this Agreement subject to normal wear & tear due to usage. 7. That the Lessee shall not sublet or part with the possession of the leased Premises or  any part thereof thereof to any one under any arrangement arrangement whatsoever whatsoever without the previous previous written approval and consent of the Lessor. 8. During the operation of this Agreement, the Lessor will have the right and privileged to enter the Leased Premises for inspection, and to attend to repairs of any nature such as laying or relaying of any electric cables, water lines etc, which may be passing or are to  pass through the leased premises premises and which in in the opinion of the Lessor are required to be repaired or redone in the general interest and for proper use and enjoyment of the building building or for the structural stability of the building. Notwithstanding anything contained in this clause or any other term of this lease, the Lessor will only exercise the right to enter the leased leas ed premis premises es by giving giving the Lessee Lessee reasonabl reasonablee notice notice thereof thereof and the lessers lessers shall exercise such right only during normal business hours and only in the presence of the employ emp loyee ee of the Lessee Lessee and in such manner manner as causes causes mi mini nimu mum m inconven inconvenien ience ce to the Lessee. 9. That the Lessor has provided an electric connection with sub-meters in the leased  premises.  premis es. The Lessee shall remain responsible responsible and lia liable ble to pay the electricity electricity charges as  per reading of the aforesaid aforesaid sub-meter for the currency of this Agreement. Agreement. Any dues in relation rela tion to the aforesaid aforesaid sub-meter, sub-meter, for the period prior to the commenc commenceme ement nt of this Agreement, shall be borne by the Lessor. 10. That the Lessee shall for its requirement entitled to carry such interior decorations as it may deem necessary for carrying its business. The Lessee shall have the right to install such fittings, fixtures, equipment as it may deem necessary. The Lessee is also entitled to fix its signboard in the building premises or in any part thereof including its outside wall subject subj ect to complia compliance nce of Municip Municipal, al, local, laws/ru laws/rule le and regulation regulation,, if any in rel relatio ation n thereto. On the expiry of this Agreement or its termination, the Lessee shall remove and take away from the said premises all such equipments and things belonging to the Lessee, kept or installed by the Lessee in the said premises but the Lessee shall in no way damage

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the said premises or any part thereof. On the termination of the Agreement or on its earlier  determination, if the Lessee fails to remove such fittings and fixtures the same shall be deemed to be the property of the Lessor. 11. That the Lessee shall keep the leased premises and its floors, walls, ceiling, doors, windows, win dows, water taps electrical electrical fitting fittingss and fixtures fixtures etc. in good condition condition,, subject subject to reasonable wear and tear. The Lessee undertakes to maintain the leased premises in good condition and to carry out minor repair works at its own costs. The Lessee shall under no circumstance be held liable and accountable for any damage caused to the leased premises due to force ma-jure or acts of nature and the Lessor would be solely responsible to repair  and make good any damage or breakage caused for reasons thereof during the tenancy of  this Agreement. 12. The Lessee shall attend to all minor repairs including fuses, leakages of water taps etc. and also shall be responsible for the maintenance of the leased premises along with fixtures and fittings therein at its own cost. If any of the fittings and fixtures and/or equipment requires requi res replacemen replacementt the same same shall shall also also be affecte affected d by the Lessee. Lessee. Major Major structural structural repairs such as leakages of roofs, any cracks in the walls or plastering or bursting or  corroding of water pipes or sewer systems or the main electric cables etc. shall be attended to by the Lessor at her own cost. 13. In the event of default or breach of the terms and conditions of this Lease Deed by the Lessee, the Lessor shall give thirty days notice in writing to the Lessee to rectify the default failing which the Lessor shall have the option to terminate the lease forthwith. 14. It isfor agreed andof between themonths parties hereto that, the covena monthly be arrears arr ears the by space 2 (two) (two) mon ths or if any an y ofifthe cov enants nts,rent , condit conshall dition ions s in or  stipulations herein contained and on the part of the lessee to be observed and performed shall not be so performed or observed by the lessee, then and in that event, it shall be lawfull for the lessor to terminate lawfu terminate this Agreement enter upon the Schedule Property & take  possession thereof. thereof. Provided that no entry shall shall be made made under the foregoing power unless & until the lessor shall have given to the Lessee a notice in writing specifying the breach of  any covenant, condition or stipulation to be complied with and the Lessee has failed to comply with and carry out the same within a period of one month from the date of such notice by the lessor. 15. The Lessee shall not make any structural addition, alteration or variation in the leased  premises  premis es or in any any part thereof. 16. That the Lessor shall pay and continue to pay all property taxes, municipal taxes and other taxes, levies, duties etc. with respect to the said property during the currency of this agreement including any increase thereon and that the Lessee shall not be responsible for  the same. 17. That the Lessor Lessor has and shall shall continue continue to comply comply with all laws, laws, bye-law bye-laws, s, rules, rules, regulation regul ations, s, orders, orders, notific notificatio ations, ns, directi directions, ons, conditio conditions ns of the governme government, nt, whether  whether  Central, State, Local or Municipal Municipal with with respect to the said property.

18. The Lessee shall conduct the business from the said premises in accordance with the Central and State Statutes/Laws or Rules and Regulations made there-under. The Lessee shall be liable to pay all the taxes, charges, levis etc, payable in respect of its business and Lessor shall not be responsible for the same under any circumstances.

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19. The Parties shall not create any third party interest in respect of the leased premises. 20. That in the event of the Lessor transfers and conveys the property to a third party, such transfer / conveyance shall be subject to this Agreement and shall recognize and accept the rights of the Lessee herein and upon the transfer / conveyance having been completed, the transferee shall step into the shoes of the Lessor herein and all the rights and liabilities of the Lessor shall automatically devolve on the transferee. 21. That That on the expir expiry y of the term term of this this Agreem Agreement ent or it itss earli earlier er determ determin inat ation ion in accordance with the terms and condition of this Agreement, the Lessee shall shall remove and / or caused to be removed all its belongings from the Leased Premises and shall vacate the Leased Premises. The occupation of the said premises by the Lessee after the termination of this Agreement Agreement would be deemed to be an act of trespass. 22. That on the expiry of the term hereof, the parties hereto may extend the duration of  this Lease Agreement on mutually agreed terms and conditions. 23. That except as otherwise provided in this Agreement, the provision of this Agreement may be amended at any time by mutual written consent of the parties hereto. 24. This Agreement Agreement and contents hereof supersede each and all agreements, agreements, arrangements, understandings, letters, correspondence, representations etc. between the parties hereto with respect to the subject matter herein. herein. 25. If required, the parties hereto hereby agree to register this Agreement Agreement as per the law of  land. All charges charges in relation to registration, registration, stamp duty and connected legal expenses shall  be borne by the Lessee Lessee in entirety. 26. Any notice notice or communi communicat cation ion with referenc referencee to this this Agreement Agreement,, unless unless otherwise otherwise specif spec ifie ied d herein herein shall be deemed deemed to be valid validly ly sent, if dispatche dispatched d by registered registered post acknowledg acknow ledgmen mentt due to the other party at the address address mentioned mentioned hereina hereinabove. bove. Either   party may by by a simila similarr written written notice notify to the other party in case of any change iin n his / her aforesaid address. 27. In this Lease Deed, unless the context otherwise requires any references to words importing the singular shall include the plural and vice-versa, words importing a gender  incl include ude every every gender gender and refere reference ncess to person personss in incl clude ude bodie bodies, s, corporat corporatee and unincorporated. 28. That any dispute dispute between between the parties parties in relation relation to this this Agreement Agreement in respect of  interpretation, operation or enforcement of any of the terms and condition or in respect of  any matter connected thereto not provided therein shall be exclusively maintainable in the courts at Bangalore only. only.

SCHEDULE PROPERTY

All that immovable property being Western Portion of Property bearing Door No.43-9165, sit situated uated at Al Alli lipur puram am Ward, Venkatara Venkataraju ju nagaram, nagaram, Divis Division ion No.31, TSN colony colony comprised comprise d in part of Sy.No.326, Sy.No.326, Vishaka Vishakapatna patnam, m, Andr Andraprad apradesh, esh, measur measuring ing about 240 Sq.Yards or 200.66 Sq.Mtrs., together with structures thereon measuring about 1682

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Sq.Ft., (29’ x 58’) Sq.Ft., having having AC Sheet roofing, roofing, Tile Tile Floorin Flooring g (Rajasth (Rajasthan an Black  Stones) Brick Walls, with all civic amenities and bounded on the: East by – Smt.Sarojini Gopinath’s Property West by - Panduranga Rao & Mr.Gandhi’ Mr.Gandhi’ss Property  North by - 75 Feet Road South by - Sri.Bobba Ranga Rao’s Property. IN WITNES WITNESS S WHERE WHEREOF OF THE PARTIE PARTIES S HERET HERETO O HAVE HAVE SET THEIR THEIR HAND HANDS S AND AND SUBSCRIBED SUBSC RIBED THEIR SIGNATURES SIGNATURES TO THIS AGREEMENT, AGREEMENT, ON THE DAY, DAY, MONTH AND THE YEAR FIRST ABOVE WRITTEN, BEFORE THE FOLLOWING WITNESSES.

Witnesses:1. LESSOR 

Sarojini Gopinath

  LESSEE

2.

Cherukuri Sandeep For  M/s.Cherukuri Finance

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