30-11-2012, 03:07 PM
AGREEMENT TO LEASE format
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BY AND BETWEEN
AR.CHIDAMBARAN aged about 25 years S/o Mr.CT. ARUNACHALAM, residing at New No. 9. Old No. 5, Madhana Gopala Swamy Street, West Masi Street, Madurai – 625 001, Is an Indian inhabitant, adult, ( hereinafter referred to as “THE LESSOR”, which expression shall mean and include their successors, legal representatives, executors, administrators and assigns) of the ONE PART.
AND
BIRLA SUN LIFE ASSET MANAGMENT COMPANY LIMITED, having office at 17th floor, One India Bulls Centre, Tower-1, Jupiter Mill Compound, 841, S.B. Marg, Elphinstone Road, Mumbai 400013, represented by --------------Administration, (hereinafter referred to as “THE LESSEE’, which expression shall mean and include their successors, legal representatives, executors, administrators and assigns) of the OTHER PART
WHEREAS the LESSOR is the owner of and seized and possessed of or otherwise well and sufficiently entitled to deal with his commercial premises solely the superstructure at II D Second Floor, 723 A & B, Avinashi Road, Coimbatore – 641 018.
AND WHEREAS the LESSOR has agreed to grant and the lessee has agreed to accept a lease of the commercial premises admeasuring 829 sq. Ft, in the Second Floor situated at Tirumalai Tower, 723 A & B, Avinashi Road, Coimbatore 641 018 (which is more fully and particularly described in the schedule hereunder referred to as “The Scheduled Premises”) subject to terms and conditions hereinafter set out for use as their Office only.
1) NOW THIS AGREEMENT WITNESSETH
That in consideration of the rents hereby reserved and of the terms, conditions and covenants of the parties to be observed and performed the Lessor hereby agree to grant the lease and the lessee hereby agrees to accept the lease of the scheduled premises.
2) RENT
The rent payable the lessee for the scheduled premises shall be a sum of Rs.-------/- (Rupees -------) which shall be paid before the 10th day of every month by draft payable at Madurai subject to deduction of income tax at source u/s 194(1) of the Income Tax act, 1961 or any amendment / modification thereto.
3) DURATION
The lease shall commence with effect from August 1st , -------- and shall be in force for a period of three years certain, subject to there being no breach of any of the terms and conditions herein THE LESSEE, however, shall at its option, be entitled to renew this lease for one further term of three years on the same terms and conditions subject to enhancement in the rent payable as detailed in Clauses 5 below.
4) LOCK-IN PERIOD
There will be a lock in period for ONE year in which the LESSEE cannot vacate the premises. In case of any eventuality the LESSEE will have to forego the deposit paid by them to the LESSOR.
5) ENHANCEMENT
The rent payable to the lessor by the lessee as aforesaid in clause 2 shall be enhanced by 15% (Fifteen Percent) of the last amount paid at the end of the third year i.e. ------------