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0% found this document useful (0 votes)
27 views8 pages

Contract

Uploaded by

killer bee
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
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By: Rishabh Juyal (H2024041)

LEASE DEED (The Transfer of Property Act, 1882)

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:

1. DEFINITION AND INTERPRETATION


In this Deed, unless the context otherwise requires, the following rules of interpretation
shall apply:
(a) Words referring to one gender include every other gender.
(b) Words referring to a singular number include the plural, and word referring to plural
include the singular.
(c) Words referring to person or persons includes companies, firms, corporations,
organizations and vice versa.
(d) Headings and title are included in this Agreement for convenience only and shall not
affect the interpretation of this Agreement.
(e) Each party must, at its own expense, take all reasonable steps and do all that is
reasonably necessary to give full effect to this Agreement and the events
contemplated by it.
(f) Any obligation on a party not to do something includes and obligation not to allow that
thing to be done.

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:

For starting a Health tech-based startup, to promote healthcare in India

(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.

5. TERM OF THE LEASE


The lease of the leased premises shall commence on November 10,2024 and shall
continue for a period of 60(sixty) months (Lease Period) unless terminated earlier in
accordance with the terms hereof. Upon expiry of the Leases period, the lease shall be
renewable on mutually agreed terms and conditions provided a request for renewal is
made by the Lessee 3(three) months before expiry of Lease Period. If the lessee issues no
notice of renewal, the lease shall terminate upon expiry of the lease period.
6. SUBLEASE, ASSIGNMENT
The lessee shall not sublet, assign, or otherwise part with the possession of the Leased
Premises either in part or in full without the consent in writing of the Lessor. Any
assignment, sub-lease, or license without the prior written approval of the Lessor shall be
null and void, and in such event, the Lessor shall be entitled to terminate the lease at its
sole discretion.

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.

9. Gas, water, electricity and other utilities


the Lessee shall pay common area and maintenance charges to the common area and
maintenance service provider of a building, as applicable. At present, the maintenance
charges to be paid are: ₹20,000( Twenty thousand rupees only)
In the event of any increase in the maintenance charges as specified above the same
she'll be borne by the Lessee.
The Lessee shell pay the electricity, water charges and charges for any other utilities at
actuals directly to the authorities concerned. The relevant meter readings as of the date
of this deed are attached as annexure 2 hereto.

10. Telephone, fax and Internet


the Lessee she'll have the right to apply for, obtain and install telephone, fax, Internet
and/or cable lines in the Leased Premises in their own name and add their own cost. The
Lessee shall remove the telephone, fax, Internet or cable lines obtained and installed by
them, as well as pay all dues on the expiry termination of the lease.
11. Structural additions
the Lessee shall not carry out any structural additions modifications or alterations to the
leased premises without the prior written consent of the Lessor. If the Lessor approves
the edition, modifications or alterations to the Leased Premises is written, and the Lessee
intends to use a contractor to carry out the same, such contractor must also be approved
in writing by the Lessor prior to commencement of work.
The Lessee may install and remove its own fittings and fixtures, provided this is done
without causing any damages to the Lease Premises. Any such fixtures and fittings may
be required to be removed by Lessor at its sole discretion, upon vacation of the leased
premises by the Lessee.

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.

17. Obligations of Lizzy


(a) The Lessee shall use the leased premises along with its fixtures and fittings in our careful
and responsible manner and shall handover the premises to the Lessor in the same
condition (reasonable wear and tear expected)
(b) Lessee agrees that it shall not damage the Leased Premises and shall be responsible for
any damages sustained to the leased premises as a result of any activity on the part of
lessee invitees, licensees, and or guests.
(c) Lessee shall comply with all obligations in posed upon Lessee by applicable provisions
of law and building associations.
(d) Lessee shall use and operate all electrical, plumbing, sanitary, ventilating, air
conditioning, and other facilities and appliances including elevators (as applicable) in a
reasonable manner.
(e) Lessee shell not destroy, deface, damage, impair, or remove any part of the leased
premises or property therein belonging to the lesser nor permit any person to do so;
(f) Lessee shall conduct himself or herself, and require other persons on the leased
premises with his or her consent to conduct themselves, in a manner that does not
unreasonably disturb the lease neighbours or cause nuisance.

18. Obligations of Lessor


(a) Lessor shall comply with applicable laws and pay the municipal taxes in respect of
the Leased Premises in a timely manner.
(b) Lessor shall ensure that any major repairs which may be required for the leased
premises shall be carried out in a timely manner.

19. Representations and warranties of Lessor


(a) Title to the leased premises- The Lessor has a clear and marketable title to the leased
premises and has a right, power and authority to grant to the Lessee, the lease of the
leased premises.
(b) Taxes and outgoings- The Lessor has paid and shall pay all existing and future
municipal rates, taxes, Levies and similar outgoings in respect of the leased premises.
(c) Peaceful possession-The Lessee, on paying rent and the other charges payable as per
this lease deed regularly and on July observing the terms and conditions hereof, shall
be entitled to quiet and peaceful enjoyment of the leased premises during the
subsistence of the term here off without any obstruction, interruption or disturbance
by the Lessor or any person or persons lawful claiming through or under the Lessor.

Except as specified above, the Lessor makes no representation and warranties


including but not limited to any express or implied warranties, with regard to the
condition of the leased premises any Lessee is taking the leased premises on an as-
is-where-is basis.
20. Representations and warranties of the Lessee
The Lessee hereby covenants, warrants and represents with the Lessor as follows:
(a) lease rentals- To pay the rent on the due dates and in the manner specified in the lease
deed and that to observe and abide by all the terms and conditions as set out in this
lease deed.
(b) Handover of vacant possession handover the vacant possession of the leased
premises to the laser immediately upon expiry of the term of the Lease and /or on
earlier termination of this lease deed. The Lessee shall be liable to remove all the
fittings and fixtures installed by them in the leased premises and reinstate the leased
premises subject to wear and tear.
(c) Good and tenantable condition- to keep the leased premises at all times in good and
tenantable condition.

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.

26. ASSIGNMENT BY LESSOR


The Lessor shall be entitled to sell, assign, convey or transfer in any manner his interest
in the leased Premises or his rights and obligations under this lease deed to any third party
without the written consent of the Lessee, provided that he ensures that the prospective
purchaser/assignee agrees to be bound by the terms of this Lease Deed.

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.

28. DISPUTE RESOLUTION


(a) Except as otherwise specifically provided in this lease deed, the following provisions
apply if any dispute and difference arise between the Parties, arising out of or in
relating to/ connection with this lease deed ( The ‘dispute’)
(b) The dispute will be deemed to arise when one party serves on the other party a notice
stating the nature of the dispute ( a ‘Notice of Dispute’).
(c) The parties hereto agree that upon serving a notice of dispute, they will use
reasonable efforts to resolving the dispute between themselves through negotiations.
(d) A dispute which cannot be solved by negotiations shall be referred to arbitration by a
sole arbitrator to be appointed jointly by the parties.
(e) The arbitration proceedings shall be held in Delhi in accordance with the provisions
of arbitration and conciliation Act, 1996 or any statutory re-enactment or
modification thereof for the time being in force.
(f) The parties agree that the arbitration award shall be final and may be enforced as a
decree.
(g) The parties further agree that subject to the above only the competent courts at Delhi,
Karkardooma shall have jurisdiction in all matters arising hereunder.

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:

(a) Delivering it by hand (a written acknowledgement in receipt thereof shall be sufficient


evidence that the notice or other information has been duly given ); or
(b) Sending it by nationally recognized courier;
To the relevant Parties at the addresses specified in the name clause of this deed
above.

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.

Annexure 1- Fixtures and fittings


Annexure 2- Meter Readings

IN WITNESS WHEREOF, the parties hereto have executed this Agreement:

SIGNATURE OF-------------------------
XYZ SHARMA

SIGNATURE OF -------------------------
HEALTH IN YOUR FINGERTIPS

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