Contract
Contract
This lease deed is made at Pune, Maharashtra on November 2, 2024, by and between:
XYZ Sharma residing at Pune, Maharashtra (hereinafter referred to as “Lessor” which expression
shall mean and include its legal heirs, administrators, and permitted assigns) of the FIRST PART
AND
Health in your Fingertips having its registered office at Maharashtra, Pune ( hereinafter referred
to as “ Lessee” which expression shall mean and include its legal heirs, administrators and
permitted assigns) of the SECOND PART
(Lessor and lessee are hereinafter individually referred to as ‘Party’ and collectively as ‘Parties’)
WHEREAS:
A. The lessor is the owner and in physical possession of the property located at:
A-24/1, Indospace Industrial Area, Pune Maharashtra (hereinafter called the “Leased
Premises”) along with the existing fixtures and fittings listed in Annexure 1 to this Deed.
B. Lessee had approached Lessor for grant of lease in respect of the Leased Premises and
Lessor has agreed to lease out the same to the lessee.
C. The Lessor and the Lessee are now desirous of executing this lease Deed to record the
terms and conditions governing the lease of the Leased Premises as set forth hereinafter.
NOW THEREFORE THIS AGREEMENT WITNESS AND IT IS AGREED BY AND BETWEEN THE
PARTIES HERETO AS UNDER:
2. GRANT OF LEASE
The Lessor hereby grants to the Lessee, the right to enter into and use and remain in the
leased premises along with the existing fixtures and fittings listed bin annexure 1 to this
Deed and that the Lessee shall be entitled to peacefully posses, and enjoy possession of
the Leased premises and the other rights granted herein.
3. PURPOSE
(a) The Lessee shall use the Leased Premises only for the following purpose:
(b) The leased Premises shall be exclusively used by the Lessee. The Leased Premises
shall not be used for any purpose other than as specified above. The Lessee shall not
use the Leased Premises for any unlawful purpose and shall forthwith notify the
Lessor if it becomes aware of any illegal activities being stored on the Leased
Premises. The Lessee will not store or allow to be stored on the Leased Premises any
objectionable items prohibited by any law in force during the Lease Period.
4. LEASE RENT
The Lessee has agreed to pay the rent of Rs. 1,50,000 (Rupees one lakh fifty thousand
only) in advance on or before 10th (tenth) day of each quarter through:
- Account payee cheque
The Lease rent as specified above shall be subject to an increase and enhancement
after a period of one year from the date of commencement of lease and thereafter
after every 12months
At the rate 8%(eight percent) over the prevailing rent at the discretion of the Lessor.
It is hereby agreed that if a default is made in payment of rent by Lessee for: 2(two)
consecutive quarters the Lessor shall be entitled, in addition to other rights and
remedies available to Lessor under this Deed and applicable laws, at its sole
discretion to terminate the lease granted under this deed and to take possession of
the Leased Premises as full and absolute owner thereof without regard to the time
elapsed.
Provided however, a notice in writing shall be given by the Lessor to the Lessee of his
intention to terminate the lease and to take possession of the Leases Premises. In the
event the Lessee pays the rent within a period of 30(thirty) days from issue of the
notice by Lessor, the Lessor shall not be entitled to terminate the Lease of the Leased
Premises. However, if the arrears of rent are not paid by the Lessee, within a period of
30(thirty) days from issue of the notice by the lessor, the lease shall stand
automatically terminated with no further acts required on part of the Lessor.
7. SECURITY DEPOSIT
The Lessee has paid to the Lessor an amount of ₹30,000(Thirty thousand rupees only) as
interest free refundable security deposit. The Lessor acknowledges receipt off the
security deposit.
The security deposit shall be refunded without any interest simultaneously with the
delivery of possession of the Leased Premises by the Lessee to the Lessor upon expiry of
the leased. Or earlier termination of this deed in accordance with the term pair of subject
to their being no outstanding dues by the Lessee. The Lessor she'll be entitled to adjust
any outstanding amounts of rent, interest or other charges due from the Lessee and any
amounts spent on repairing damages caused to the leased premises by the lessee
against the security deposit prior to refunding the same to the lessee. In the event the
amount of security deposit is not sufficient to cover the outstanding amounts due to the
Lessor, the Lessee shall be liable to pay all such outstanding amounts within a period of
15 days from receipt of a return demand from the lesser.
In the event the lesser cells the leased premises or assigns all rights under this lease deed
to third party , visit security deposits shall also be transferred to the new Lessor and the
Lessor shell thereafter not have any liability towards the return of the security deposit to
the Lessee.
8. Lock in
The Lessor she'll not be entitled to terminate this lease during the period of 3 months from
the November 10th, 2024, for any reason whatsoever.
12. Compliance with rules the Lessee shall comply with all applicable laws, rules and
regulations of the local government authorities in relation to the leased premises the
Lessee shall also comply with rules and regulations of the building association where the
leased premises is situated.
13. Possession
Lessee Shall be handed over possession of the leased premises simultaneously with the
execution of this deed provided an amount equivalent to the security deposit and first
months lease rent has been delivered to the Lessor.
In the event the lessor is unable to handover possession of the lease premises to the
Lessee on the date as specified above, due to any unforeseen circumstances, Lessor
shall not be liable for any damages but Lessee will not be liable to pay rent until
possession is given.
14. Repairs
The parties agree that day to day repair such as fuse blow out replacement of light bulbs,
water taps, maintenance of water pump and other minor repairs etc, shall be carried out
by the Lessee at its own cost, and any major repairs either structural or the electrical or
water connection, plumbing league, water seepage shall be attended by the Lessor. In the
event of the Lessor failing to carry out the repairs on receiving notice from the Lessee, the
Lessee shall undertake the necessary repairs and the Lessor will be liable to reimburse
costs incurred by Lessee within a period of 30 days.
15. Inspection
The laser and/or its authorized personnel shall have the right to enter upon and inspect
the leased premises or any part they are off with prior written notice of 3 days at any time
during the following hours 2:00 PM to 5:00 PM.
Provided, however, in case of any emergency, no prior notice shall be required to be given.
16. Taxes
the Lessor shall be responsible for the payment of property tax and any other municipal
taxes pertaining to the leased premises during the lease. Pull storm the Lessee shall
reimburse the property and municipal taxes paid by the Lessor upon demand made in this
regard by the Lessor. Any other statutory taxes or duties, levied by the government or
governmental departments shall be borne by Lessor.
Goods and services tax payable on the rent shall be borne by lessor.
The parties agree that's stamp duty and registration charges on this deed shall be bored
by Lessor.
21. INSURANCE
The Lessor shall not be responsible for insuring the Leased premises.
22. DEFAULT
A breach of any of the terms of this lease by the Lessee which is not cured within a period
of: 2 weeks, from receipt of notice from the Lessor shall be considered a default under
this Deed. Breaches may include but are not limited to, failure to pay the lease rent,
reengaging in any unlawful activity, damaging or otherwise destroying Leased Premises
or any common areas therein, or violation of any part or sub-part of this lease.
23. TERMINATION
The lessor shall also be entitled to terminate the lease without any notice in the event of
a default committed by the lessee which is not cured within a period of :2 weeks, from the
date of receipt of a written notice in that regard from Lessor.
Lessor shall be entitled to terminate this lease deed by giving written notice of :4 weeks
to the Lessee of its intention to terminate.
Lessee shall be entitled to terminate this lease deed by giving written notice of :4 weeks
to the lessor of its intention to terminate.
Upon any termination of the lease for any reason whatsoever, the lessee shall hand over
physical vacant possession of the scheduled property to Lessor simultaneously with the
lessor refunding to the lessee the security deposit after adjusting all monies due and
payable by the lessee in terms of this lease deed.
24. INDEMNITY
Each party shall defend, indemnity, and hold harmless the other party from and against
any claim, liability, demand, loss, damage, judgement or the obligation or right of action,
which, may arise as a result of the breach by such party of this lease deed or any
misrepresentation made herein.
25. GOVERNING LAW
This deed shall be governed by the laws of India.
27. AMENDMENT
The terms of this lease deed shall not be altered or added to nor shall anything be omitted
therefrom except by means of a supplementary deed in writing duly signed by both the
parties hereto.
29. NOTICES
Any notice or other information/document required or authorized by this deed to be given
shall be given in writing, in English and by:
30. SEVERABILITY
If at any time, any provision of this lease deed shall become or be held illegal, invalid or
unenforceable in any respect under any law, then the legality, validity or enforceability of
the remaining provisions shall not in any way be thereby affected or impaired.
31. COUNTERPARTS
This lease deed may be executed in 2 number of counterparts each of which shall be
deemed to be an original.
SIGNATURE OF-------------------------
XYZ SHARMA
SIGNATURE OF -------------------------
HEALTH IN YOUR FINGERTIPS