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Rent Agreement Shop

Rent Agreement for Shop

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Swapnil Deb
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67 views3 pages

Rent Agreement Shop

Rent Agreement for Shop

Uploaded by

Swapnil Deb
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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AGREEMENT/ DECLARATION

THIS AGREEMENT is made and entered into on this the _____ day of
____________, 2024 at Shillong.
BETWEEN
SMTI MONIKA GHOSH, aged about 53 years, wife of (L) Madan Gopal Ghosh, R/o
10, Parsunath Choudhury Area, Rilbong, Shillong, East Khasi Hills district,
Meghalaya, hereinafter called the FIRST PARTY (which expression shall mean and
include her heirs, executors, administrators and assigns, etc.,) of ONE PART
AND
SHRI MADAN THAKUR, aged about 60 years, son of Shree Thakur, R/o
Harhachcha village, Anchal- Baheri, Darbhanga district, Bihar hereinafter called the
SECOND PARTY (which expression shall mean and include his heirs, executors,
administrators and assigns, etc.,) of the OTHER PART
WHEREAS the First Party is the sole and absolute owner of the shop/ business
known as ‘Sri Gopal Mistanna Bhandar’, situated at Rilbong, near Rhino Museum,
Shillong, East Khasi Hills district, Meghalaya (hereinafter referred to as the “said
shop”).;
AND WHEREAS the First Party has executed a General Power of Attorney dated
_______________ 2024 in favour of the Second Party, in connection with running
the said shop on such terms and conditions as stated therein;
AND WHEREAS both the First Party and the Second Party have agreed to enter
into this instant Agreement for the smooth running of the said shop and so as to
avoid any future complications, hardships, inconveniences and misunderstandings,
etc., on the following terms and conditions:

NOW THIS AGREEMENT WITNESSETH AS UNDER:


1. That the Parties have entered into this instant Agreement for the purposes of
profit/ revenue sharing and other aspects in pursuance to the
abovementioned General Power of Attorney dated _________________
2024.

2. That this Agreement shall commence on the 1 st day of January, 2024 and
shall be valid for a period of 5 years, i.e., till 31 st day of December, 2028.
However, notwithstanding the above, this Agreement shall stand terminated
forthwith if and when the First Party revokes or otherwise annuls the said
General Power of Attorney and/or this Agreement. Further, the First Party
shall not be liable for any form of compensation, etc., for such termination.
3. That the Second Party shall do all acts, deeds and things necessary for and
in connection with looking after and smooth running of the said shop for the
best interest of the First Party.

4. That the Second Party shall be entitled to receive all the profits out of the
said shop and shall incur all liabilities arising out of the said shop, except
otherwise provided in this Agreement.

5. That the Second Party shall pay a sum of Rs 1,100/- (Rupees One
Thousand One Hundred only) each calendar day to the First Party w.e.f. 01-
01-2024 till 31-12-2024. Thereafter the Second Party shall pay a sum of Rs
1,500/- (Rupees One Thousand Five Hundred only) each calendar day to
the First Party w.e.f. 01-01-2025 till 31-12-2025. Thereafter, w.e.f. 01-01-
2026 till the expiry/ termination of this Agreement, rates as mentioned
hereinabove shall be increased by 10% annually, unless otherwise mutually
agreed by the Parties.

6. That notwithstanding Clause 5 hereinabove, the Second Party shall pay a


sum of Rs. 2,500/- (Rupees Two Thousand Five Hundred only) to the First
Party on the following festivals/occasions during the term of this Agreement
as mentioned below:

Sl. No. Festival Duration Corresponding


Dates
1. Shiv Ratri 1 day Date of festival
2. Holi 1 day Date of festival
3. Durga Puja 4 days Saptami to
Dashami
4. Laxmi Puja 1 days Date of festival
5. Chatt Puja 1 days Date of festival
6. Diwali 2 days 2 dates of festival

7. That in case of any bulk orders (of Rs. 15,000/- and above) the total bill
amount paid by the customer shall be shared between the First Party and
the Second Party at the rate of 25% and 75% respectively, unless otherwise
mutually agreed by the Parties.

8. That the Second Party pay the electricity bills, water charges, and other bills
separately from time to time on behalf of the First Party.
9. That the Second Party shall not create any fresh or new documents and/or
papers for the said shop, including electricity bill, etc., without prior consent
and approval of the First Party.

10. That the Second Party shall not transfer, assign, sub-let or under-let or
otherwise transfer in any way the said shop to any third party whatsoever.

11. That the Second Party shall not misuse the said shop in any manner and
undertakes to not indulge in any illegal activities in the said shop.

12. That this Agreement may be renewed after its expiry upon the mutual
consent of both the parties on such terms and conditions as mutually agreed
upon.

IN WITNESS WHEREOF, the parties hereto append their respective signatures


onto this Agreement on the date and year first above-written.

___________________ ____________________
FIRST PARTY / ONE PART SECOND PARTY/ OTHER PART

Signed in the presence of the following witnesses:

1. 2.

Identified By:

Advocate.

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