LEASE OF A SHOP PREMISE
ARTICLES OF AGREEMENT made and entered into at .............on this...... day of ............20…, BETWEEN ..............................................of .............Indian Inhabitant hereinafter referred to as the LICENSORS (which expression shall unless it be repugnant to the context or meaning thereof include his heirs, executors administrators of the ONE PART; AND ....................................& .......................................... both of .............Indian Inhabitants carrying on business in the firm name and style of .......................................... at .................................................................... ............................., hereinafter referred to as the "LICENSEES" be deemed to mean and include their respective of the other parts);
WHEREAS:
1. The Licensors are the registered holder of five fully paid up shares of Rs........./-each bearing distinctive Nos. ............to ........ (both inclusive) (hereinafter called "the said shares" represented by share certificate No.........issued by .................................................................................................. .......... (hereinafter called " the said Society") and as such holder are entitled to the use, occupation and enjoyment of the premises bearing shop No. .......... admeasuring approximately ........sq.ft. of carpet area on the ............floor of the building known as " .............................. " situated at .......................................................... ............, ............................ ................................... (hereinafter called "the said shop premises");
2. The Licensors have represented to the Licensees that:
(a) it has duly paid to the said Society all dues, charges and outgoings payable by it upto the date of this agreement in respect of the use, occupation and enjoyment of the said shop premises and have duly observed as of the date of this agreement all rules, regulations, bye-laws and circulars framed or issued by the Society and/or the management Committee thereof for the time being in so far as and to the extent the same are applicable to the use, occupation and enjoyment of the said shop premises and required to be observed by it;
(b) the said shop premises are free and clear of any charge, mortgage or other encumbrances whatsoever;
(c) no other person has any right, title, interest claim or demand to, in over or it respect of the said shop premises;
(d) the said building in which the said shop premises are situated has been duly insured by the said society at its cost and such insurance is in full force and effect;
(e) it has obtained the no objection certificate of the said Society to grant leave and licence to the Licensees to use and occupy the said shop premises;
(f) in the premises aforesaid, the Licensors have right power and authority to grant to the Licensees leave and licence in respect of the said shop premises and to enter into this Agreement with the Licensees.
3. On the faith and strength of the above representations by the Licensors and Licensees have requested the Licensors to give the said shop premises on leave and licence basis to the Licensees for a period of ......(............) months commencing from ......................, 2010 upto ...................., 2010 and subject to the terms and conditions hereinafter appearing;
NOW THIS AGREEMENT WITNESSETH AS FOLLOWS:
1. The Licensors hereby permit the Licensees to use and occupy the said shop premises on leave and license basis for a period of ..........(............) months (i.e. from .................... 20…... to ....................20……. at the compensation of Rs.........../- (Rupees ........ .................. only) per month and on the terms and conditions contained in this Agreement.
2. The period of License is deemed to have commenced on ...................., 20…....and shall continue till .................., 20…….,unless determined earlier.
3. The Licensees shall deposit with the Licensors a sum of Rs................./-(Rupees.................... ....................only) The Licensor hereby admits and acknowledges the receipt thereof). The said sum shall be held by the Licensors as a security deposit without interest and shall be refunded by the Licensors to the Licensees without interest only upon the Licensees removing itself and its officers, employees and assets from the said premises and handing over vacant possession (with furnitures covered under Furnitures Agreement) of the said Agreement after deducting therefrom all amounts which may then be due from the Licensees to the Licensors under this agreement and/or otherwise in relation to the use of the said shop premises by the Licensees in terms of this Agreement and/or costs or repairing and/or making good any willful damages caused to the said shop premises by the Licensees and/or damages (reasonable wear and tear and loss or damage by any act of God, riots or other irresistible force excepted) flowing from any breach or non-observance by the Licensees of any of the terms and conditions of this Agreement.
4. The Licensees shall on or immediately after the execution of this Agreement pay to the Licensors as advance a sum of Rs. ........../- (Rupees .......................... only) being the agreed compensation for the Licensees hereby given for first month of this License viz. i.e. from .................................. to ...................................... at the rate of Rs.........../- per months, (which is exclusive of outgoings in respect of the said shop). Presently quarterly outgoings in respect of the said premises are approximately Rs............... as per the bill of the said society.
5. The Licensees hereby covenant with the Licensors as follows:
(a) To pay to the Licensors regularly, quarterly outgoings payable in advance by the Licensors to the said Society immediately on receipt of bills.
(b) To pay to the Licensors on demand all charges at actual for electricity (including meter hire) consumed in the said shop premises and in respect of the use of telephones bearing No. ...................
(c) To use the said shop premises only for the purpose of the business of diamond and for no other purpose whatsoever and to use the parking space only for the purpose of parking one car owned and/or hired by the Licensees.
(d) To keep the Interior of the said shop premises in a good and proper state of repair and condition (reasonable wear and tear and loss or damage by any act of God, riots or other irresistible force excepted) and to carry out all necessary repairs thereto as and when called upon to do so by the Licensors except structural repairs which shall be carried out by the Licensor at its cost and expense.
(e) Not to keep within the said shop premises any goods or materials of a combustible nature or of a nature which will invalidate the insurance policy of the building wherein the said shop premises are situate or which may result in additional premium for such insurance being levied and agree and undertake to keep the Licensors always indemnified against all such risks.
(f) Not to carry out any additions to or alterations in the said shop premises which are of a structural or permanent nature without the previous written consent of the Licensors which shall not be unreasonably withheld provided however that the Licensees shall be at liberty to install in the said shop premises at its own cost air conditioners and electrical appliances fittings and fixtures including screens, shelves or partitions of a non permanent nature which shall at all times be and remain the exclusive property of the Licensees.
(g) Not to do or omit to do anything in or upon the said shop premises or any part thereof which shall be or become a source of nuisance or annoyance to the other occupants of the building wherein the said shop premises are situated and not to do or omit to do anything which will result in the Licensors rights to the said premises being jeopardised or otherwise affected.
(h) to observe and perform the bye-laws, rules and regulations of the said society which are brought to the notice of the Licensees by the licensors in so far and to the extent these are required to be observed and performed by the Licensees as the occupant of the said shop premises.
(i) Not to sub-licence the said shop premises or any part thereof or permit the said shop premises or any part thereof to be used by any other person, firm, company or body, and not to assign, mortgage, charge, encumber or otherwise transfer the whole or any part of the License benefit or burden under this agreement.
(j) On the expiry or earlier determination for the period of the Licence to cease using the said premises and to remove themselves and their employees and assets from the said premises and handover vacant possession thereof to the Licensors in the same state and condition in which the said premises were at commencement of this Agreement (reasonable wear and tear and loss or damage by any act of God, riots or other irresistible force excepted);
6. The Licensors hereby covenants with the Licensee as follows:
(a) To pay regularly to the said Society all charges and outgoings including all Rates, cess, taxes, charges etc., in respect of the said shop premises promptly upon receipt of the same from the licensees/ the said society in terms of clause 5(a) including all increases thereof from time to time and to observe and perform all rules, regulations and bye-laws of the said society and to indemnify the licensees against a breach of this covenant.
(b) To pay if any changed, additioned non-occupancy charges or any other charges that may believed by the society and arising out of the agreement of leave and licence.
(c) To pay the .........................Undertaking all charges for electricity (including meter hire) consumed in the said shop premises promptly upon receipt of the same from the Licensees in terms of clause 5(b) hereof.
(d) Subject to Licensees rights herein the Licensors shall be entitled to sell, the said shop premises or any part thereof or its interest therein or any part thereof (including the said shares in the said Society) during the period of this Agreement.
(e) To bear and pay to the Society the cots of carrying out structural alterations to or additions in the building wherein the said premises are situated to the extent to which they are payable by the Licensor as the Owners of the said premises.
(f) That the Licensees paying the amounts payable under this Agreement and observing and performing the terms and conditions contained in this Agreement shall be entitled to use the said premises by leave and licence of the Licensors for the duration of this Agreement without any interruption, claim or demand from the Licensors or any person or persons or any authority.
7. Notwithstanding anything to the contrary stated in this agreement (a) the Licensors shall not be bound to refund to the Licensees, the said security deposit of Rs................. (Rupees ...................................... only) until the Licensees shall have removed itself, its employees and assets from the said shop premises and handed over vacant possession thereof to the Licensors.
8. This licence is merely personal licence to the licensors and is not transferable or ............................. The licencee shall use the said premises for their own use and shall not permit any other person to use and or occupy the said premises for any purpose whatsoever.
9. On expiry of the said licence period or on early determination the licencee shall ceased to carry on business therein hand over vacant and peaceful possession of the said premises by the licensees.
10. Notwithstanding anything stated in this Agreement or in any law presently in force or which may hereafter come into force, the Licensees are not and shall not at any time claim to be a tenant of the said premises or any part thereof and are not and shall not claim to be in exclusive possession of the said shop premises or any part thereof.
IN WITNESS WHEREOF the parties hereto have set their hands the day and year first hereinabove written.
SIGNED, SEALED AND DELIVERED )
for and on behalf of )
)
in the presence of: )
SIGNED, SEALED AND DELIVERED )
for and on behalf of )
)
in the presence of: )
RECEIVED prior to the day and year first )
hereinabove written by each of us of and )
from the withinnamed .............................. )
of Rs.................../- (Rupees )
only) aggregating to Rs. )
(Rupees………………………………………only) )
to be paid by them to us as aforesaid. )Rs.
In the event of failure on the part of the licensee to vacate the said flats and handover vacant possession thereof to the licensor as provided in the agreement it is agreed by the licencee that not only the licensee will be liable to pay compensation at the rate of Rs. 75,000/- (Rupees seventy five thousand only) per month over and above the monthly compensation/license fee but the licensor will from the date of such default also be liable to stop the licensee and/or any of his family members from using the said flats.
