Rent - Lease Agreement - Format 1

RENT AGREEMENT
This agreement of Rent executed on at Mumbai on 1st day of October 2004 BETWEEN
Mr. M. P., S/o P.M. aged about 47 years residing at 8, Hindustan Kohinoor Complex,
LBS Marg, Vikhroli (West), Mumbai 400083; (hereinafter referred to as the OWNER
which expression shall, wherever the context permits, be deemed to include their
successor, legal representatives and assigns), being the party of the FIRST PART
AND
M/s. XYZ Pvt. Ltd. of Mumbai, a company incorporated under the provisions of the
Companies Act, 1956 and having its registered office at 8, Hindustan Kohinoor Complex,
LBS Marg, Vikhroli (West), Mumbai 400083; (hereinafter referred to as the TENANT)
being the party of the SECOND PART:
Whereas the Party of the First Part is the legal owner of Office No 7 admeasuring
about 1,000 sq. ft. (Carpet Area) on the ground Floor in the Building known as
Hindustan Kohinoor Complex situated LBS Marg, Vikhroli West, Mumbai 400 083,
(hereinafter referred to as the office premises ) and has acquired the property vide Sale
Deed dated January 1, 2000 and registered the same with the registrar of assurances Vide
Serial.No.10.
In Consideration of the rent hereinafter reserved and all the covenants and conditions
hereinafter contained to be observed and performed on the part of the Tenant,
the Owner does hereby grant, transfer, demise by way of Rent Office No. 7,
Hindustan Kohinoor Complex, LBS Marg, Vikhroli (West), Mumbai 400083
admeasuring about 1,000 Sq. Ft. of which the party of the first part is the sole owner and
is entitled in law to execute this Rent Agreement, together with passages, staircases,
landings and other easements belonging and pertaining to the said premises unto and to
the use of the Tenant for a period of , commencing on
.. by paying unto the Owner during the said period a monthly rental of Rs.
10,000/- (Rupees Ten Thousand only) (Subject to deduction of TDS as may be
applicable), subject to the following terms and conditions:
AND WHEREAS the party of the second part is desirous of taking the said office
premises on rent for the sake of housing their office operations and for the purpose
approached the party of the first part for the said reduced in writing, which are as follows:
THE TENANT HEREBY CONVENANTS WITH THE OWNER AS FOLLOWS:
a.
b.
To pay the monthly rent by cheque drawn in favour of the owner i.e. Mr.
M.P. referred earlier, on or before the ___ day of the subsequent English
calendar month (e.g. Rent for February will be paid by 5th March).
To use the demised premises for the Official / Commercial purpose of the
Tenant only.
c.
d.
e.
f.
g.
h.
To pay the charges for consumption of electricity / telephone directly to

the concerned authorities as per bills received by them.
To permit the Owner or his authorized representatives to enter the demised
premises at all reasonable hours for the purpose either for inspection of the
demised premises as and when necessary.
Not to sublet, assign or otherwise part with possession of the demised
premises (without the Consent of the Owner) to any third party.
To deliver peaceful possession of the demised premises to the Owner on
the expiration of the rent or its earlier determination in such condition as is
consistent with the covenants and conditions herein contained.
To deposit a sum of Rs. .. (Rupees . only) with the Owner
being the interest free Rent Deposit. This deposit will be refunded by the
owner to the tenant at the time of taking vacant possession of the rented
premises upon expiry of the term or otherwise.
To pay service charges for additional amenities provided for the office
facilities etc.
Period
a.
b.
c.
i.
j.
Amount
Rs. ./- per month.
Rs. ./- per month.
Rs. ./- per month.
To abide by the bye-laws and regulations of the Society and local

authorities including Municipal Corporation in relation to the demised
premises.
To keep the Owner indemnified and hold him free against all demands or
claims in respect of non observance of any rules, byelaws etc. whatsoever
pertaining to the premises.
THE OWNER COVENANTS WITH THE TENANT AS FOLLOWS:

1.
2.
Subject to the Tenants covenants, to pay the maintenance, taxes and other
charges including any other duties that may be levied by any government
during the course of this agreement payable to Mr. M.P.
To Allow Tenant to make such alterations in the demised premises to make
it usable as his office premises, without disturbing or causing damage to
the main structures of the Building.
IT IS MUTUALLY AGREED BETWEEN THE OWNER & TENANT AS FOLLOWS:

1.
After detailed discussions between the Owner and the Tenant, it is

explicitly agreed between both parties that after the expiry of the Rent
period of or any other extension of this rental
arrangement the Tenant shall give back the vacant possession of the
premises to the Owner.
2.
3.
4.
5.
In the event of any default in payment of rent or any other terms and
conditions of this agreement by the Tenant for a continuous period of ____
months, this agreement shall stand automatically terminated and the
Owner shall forfeit all deposits and advance paid by the Tenant and shall
have the right to enter the said premises and take back physical possession
of the said premises without any prior notice.
The Security deposit will otherwise be returned in one installment to the
Tenant at the end of the Rental period on handling over back peaceful
possession of the premises to the Owner. At the time of handling over back
the possession to the Owner, the Tenant shall clear all the bills pertaining
to the premises such as rent, electricity and if any such payment remains to
be paid, the same shall be deducted from the security deposit by the
Owner and the balance paid back to the Tenant.
That the Owner / his authorized agents shall acknowledge and give valid
and duly stamped receipt for every payment made by the Tenant and such
receipt shall be conclusive proof of such payment.
This Agreement can be terminated by giving One Months notice in
writing by either parties to the Agreement.
SIGNED, SEALED AND DELIVERED

By the within named Owner
Mr. M. P.
)
(Son of Mr. P. M
In the presence of
1.
)
)
)
)
2.
SIGNED, SEALED AND DELIVERED

By the Withinnamed the Tenant
M/s. XYZ PVT. LTD.
)
Through their Director Mr
In the presence of:
1.
2.
)
)
)
)

Rent - Lease Agreement - Format 1

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Rent - Lease Agreement - Format 1

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What are the obligations of the tenant according to the agreement?

What are the obligations of the owner according to the agreement?

RENT AGREEMENT

To pay the charges for consumption of electricity / telephone directly to

To abide by the bye-laws and regulations of the Society and local

THE OWNER COVENANTS WITH THE TENANT AS FOLLOWS:

IT IS MUTUALLY AGREED BETWEEN THE OWNER & TENANT AS FOLLOWS:

After detailed discussions between the Owner and the Tenant, it is

SIGNED, SEALED AND DELIVERED

SIGNED, SEALED AND DELIVERED

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