Rental Agree DTDC

THIS RENTAL AGREEMENT made . BETWEEN Sri. .., Aged about years, S/o., Residing at No., , .. 0.
and
executed
on
this
(hereinafter called the Owner which expression shall mean and include his heirs, legal representatives, executors, administrators, attorneys and assigns) of the ONE PART AND Sri. Durga Prasad G, aged about 24 years, S/o. .., , .. (hereinafter called the Tenant which expression shall mean and include his heirs, legal representatives, executors, administrators, attorneys and assigns) of the OTHER PART. WHEREAS the Owner is the sole and absolute owner of Property being a shop bearing No., more fully described in the schedule hereunder and hereinafter called the Rented Premises. WHEREAS the Owner of the Rented Premises is desirous of letting out the property on rent and the Tenant has been approached the Owner to take on Rented Premises of the Owner on rent and the Owner agreed to lease out the same on the terms and conditions. WHEREAS the parties have agreed to reduce the agreed terms of the lease into writing as follows: NOW THIS RENT AGREEMENT WITNESSETH AND THE PARTIES MUTUALLY AGREE AND COVENANT AS FOLLOWS: I In consideration of payment of monthly rents and on the terms and conditions herein to be performed and observed by the Parties, the Owner hereby grants unto to the Tenant, the Rented Premises for a period of Eleven (11) Months commencing from this day i.e. 01st April 2011 on payment of monthly rent Rs.3000/-(Rupees Three Thousand only), the tenancy month being English calendar month .
II. (1) (2)
The Tenant covenants with the Owner as follows: To pay the monthly rent in advance on or before the 5 th of every English calendar month. To pay the electricity, water charges, if any, to the concerned authorities directly as per readings in the separate meter provided for Rented Premises and keep the Owner indemnified in this regard. To keep the Rented Premises in good condition subject to normal wear and tear and attend to repairs and maintenance of the same at the Tenant's cost. Not to alter, modify to carryout any additional construction or demolish any structures, without the consent of the Owner. Not to create nuisance to the neighbours/owners of the other premises. To use the Rented Premises only for Carrying out any lawful business, as the Tenant may decide. Not to carry on any unlawful activity or business, dangerous/explosive material in the Rented Premises. store
(3)
(4) (5) (6) (7) (8) III. (1)
The Tenant shall not sub-let, assign this rent agreement in favour of any third party. The Owner Covenants with the Tenant as follows: To pay the property taxes or such other taxes, levies, cess, etc., for the Rented Premises and shall indemnify the Tenant of any such payment whatsoever from any authority/s. To issue proper stamped receipt for payment of rent to the Tenant, with or without demand. In the event of no such receipt being issued, it shall be presumed that the Owner has received the rents, without any default by the Tenant, until a specific demand in writing is made by the Owner to the tenant under acknowledgement. To permit the Tenant to have a quiet and peaceful possession subject to the Tenant complying with the terms of the Lease. The Owner shall not terminate this rent agreement, until expiry of the term under this agreement and shall offer leasing out the rented premises to the tenant for further extended period after the expiry of the period under this agreement. The Owner has specifically agreed to allow the Tenants to renovate the Rental Premises as and when required, to suit their business requirement, without demolishing or damaging the basis structure of the Rented Premises. No notice shall be required to be given to the Owner by the Tenant for such renovation, which would give better value or appreciation for the Rented Premises.
(2)
(3) (4)
IV.
V.
The Tenant has paid a sum of Rs. 1,00,000/-(Rupees One Lakh only) to the Owner as refundable deposit by cash receipt of which the Owner hereby acknowledges and this amount shall be refunded to the Tenant, after adjusting the arrears of rent, damages, if any, on Tenant handing over vacant possession of the Rented Premises to the Owner in the same condition in which it is let out subject to normal wear and tear. In the event of any default in payment of the refundable deposit, even after handing over possession by the Tenant, the Owner shall be liable to pay interest at 18% p.a. on the entire refundable deposit amount till payment in full. If the Tenant commits default in payment of rents for a consecutive period of two calendar months or if the Tenant commits breach of any of the terms of the lease, the Owner shall cause atleast one month notice in writing to the tenant to pay the arrears of rent or to rectify such breach. Despite receipt of the notice by the tenant, if the tenants fails to pay the arrears of rents or rectify such breach, the owner can terminate the lease and thereupon the Owner can enter into possession of the Rented Premises provided however, if the Tenant pays the arrears of rent within one month on receipt of the notice and/or rectifies the breach complained of, the Owner shall not have the right of re-entry. If the Tenant so desires to have a renewal of the Lease for any further period, the rent for such renewed period will be 5% more than the rent payable under this agreement per English calendar month. In the event if the tenants continues the tenancy even after the period of lease under this agreement, it shall be treated as extension of lease by implied consent of both the parties for a further period of eleven months therefrom. Any/all disputes or differences which may arise between the parties or their representatives/nominees with regard to the construction, meaning and effect of this agreement or any part thereof or any other matter relating to the same or incidental thereto either during or after the period of this agreement shall be resolved by mutually between the parties or in the event of failure be referred to a Sole Arbitration under provisions the Arbitration and Conciliation Act, 1996. The venue of such Arbitration shall be at Bangalore. The Choice of appointment of such Sole Arbitrator shall be at the discretion of the Tenant and the Tenants decision in this regard shall be final and binding on the Owner.
VI.
VII.
VIII.
RENTED PREMISES All that piece and parcel of property being a Shop bearing No.
IN WITNESS WHEREOF the parties hereto have signed this Lease Agreement on the day, month and year above written in presence of the following Witnesses: WITNESSES: 1. OWNER 2. TENANT

Rental Agree DTDC

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THIS RENTAL AGREEMENT made . BETWEEN Sri. .., Aged about years, S/o., Residing at No., , .. 0.

II. (1) (2)

(4) (5) (6) (7) (8) III. (1)

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