LEASE DEED

THIS DEED OF LEASE is made and executed on this the 7th day of January 2020at Bangalore

BETWEEN

Sri. Praful Kumar Vasvani

s/o. Sri Gautham Kumar Vasvani

Aged about 55 years

R/at. No.128/3, 4th Cross, 5th Block

Jayanagar, Bangalore—560041

Hereinafter called the ‘LESSOR’ of the ONE PART,

AND

Sri. Ranjith Rao

S/o. Keshavamurthy Rao

Aged 41 years

R/at No.49/2/40

B.K Subbaiah Lyout

Kumara Park West

Bangalore- 560047

Hereinafter called the ‘LESSEE’ of the SECOND PART:

(The term ‘LESSOR’ and the ‘LESSEE’ shall mean and include their respective heirs, representatives,
assigns, attorneys, successors in interest and title etc.)

WHEREAS the Lessor herein is absolutely seized and possessed of or otherwise well & sufficiently
owner of the residential property bearing No. L-13,2nd Floor, Bazar Street, Neelasandra, Bangalore-
560047, comprising of one hall, two bedrooms, one bathroom, one kitchen and supplied with
electricity and water connections, in all measuring to an extent of 1200 sq.ft., which is more fully
and particularly described in the Schedule and hereinafter referred as ‘SCHEDULE PREMISES’

WHEREAS the Lessor desirous of leasing out the schedule premises to the Lessee who has accepted
to take the schedule property on lease. Both the parties have agreed to the terms and conditions set
out here in below and Lessee has agreed to take the leasehold property more fully defined in the
schedule for a period of 11 months and accordingly the Lessor and the Lessee have mutually agreed
for this deed.

NOW THIS INDENTURE OF LEASE DEED WITNESSETH AS FOLLOWS:

1. The Lessor shall deliver the vacant possession of the above said premises to the Lessee on
the 7th day of January 2020 for the residential purpose only on lease
2. The Lessee shall have the leasehold rights over the schedule premises on payment of the
below mentioned lease amount for a period of 11 months commencing from this day i.e 7th
 day of January 2014 and shall have the right to possess and enjoy the schedule premises as
Lessee during the said period.
3. The monthly rent for the said premises shall be Rs. 15,000/- (Rupees Fifteen Thousand Only)
and such rent shall be payable in advance on or before the 10th day of each calendar month
(due date). Failure to make the payment of lease rentals within 10 days from the said due to
date shall render the lessee liable to pay interest @18% p.a. for the delayed period.
However, the delay in the payment of the Lease Rental beyond two months shall attract the
provision of clause 4 hereof. Income Tax shall be deducted at source as per the prevailing
Income Tax Laws and amendments made thereto from time to time. The monthly Lease
rental shall be exclusive of all Electricity, Water and Maintenance Charges, which shall be
paid directly by the Lessee to the concerned authorities at actual, including any increase in
costs hereof which may come into effect with time. The Lease rentals shall be paid by way of
cheques/pay order and drawn in favor of the Lessor.
4. That in the event the Lessee defaults in the Payment of monthly Lease rentals for a
continuous period of Two Months due to any reasons whatsoever it shall constitute the
breach of this Lease Deed and the Lessor shall give a Registered A.D. Notice/ Letter to the
Lessee. The Lessee shall make necessary payments, within 30 days of the receipt of said
registered A.D. Notice/ Letter along with interest at the rate of 18%p.a. on the delayed
period in terms of the Clause (2) hereof. But in case the Lessee does not make the payment
within the stipulated time, the Lessor shall have the absolute right to terminate the Lease
and re-enter the premises without any further notice. It is further agreed that on account of
non-payment of the rent as mentioned above, the Lessee will not only cease to have any
rights in the Scheduled Premises but will also become a trespasser and the Lessor shall be
entitled to proceed against the Lessee and evict them from the Scheduled Premises as
trespasser.
5. The Lessee shall use the Scheduled Premises for residential purpose only and in no case its
business shall be conducted from the Schedule Premises. The Lessee shall use the Schedule
Premises as per the relevant laws. The Lessee shall not do or suffer to be done in the
Schedule Premises anything, which may be or become a nuisance, annoyance or cause
damage or inconvenience to the others. In case of any breach on the part of the Lessee the
entire risk and responsibility including any legal proceedings of the consequences of the
same shall be entirely of the Lessee to the exclusion of the Lessor.
6. That the Lessee shall not sublet, assign or otherwise part with the possession of the
Schedule Premises on any account whatsoever.
7. The Lessor shall have the right to carry out interiors and furnishing without making any
structural alterations, however, but with the prior approval of the Lessor. At the expiration
or earlier termination of the Lease Agreement, the Lessee shall have the right to take back
any and all furnishings they have installed. The Lessee shall obtain all statutory/requisite
permissions as may be applicable for installations and operation of all its equipment
installed in the Schedule Premises .
8. The Lessee shall be entitled to obtain at its cost (if so required) sanction for additional load
of electricity/power provided however it shall ensure that the existing electrical installations
are not damaged or affected.
9. The Lessee shall keep the schedule Premises in good and tenantable condition and that on
expiry of the Lease Deed, the Lessee shall remove, forthwith all that belongs to the Lessee
and the fixtures/fittings installed there in the same conditions as the same were at the
commencement of this Lease Deed subject to normal wear and tear.
10. That the Lessee shall be entitled to Peaceful and uninterrupted use of the Schedule Premises
during the terms of Lease Period, free from any interference, interruption or objection
whatsoever claiming through and on behalf of the Lessor. The Lessor shall indemnify to the
Lessee in case it is found that the said Schedule Premises is not free from all encumbrances,
restrictive orders, injunctive and Les Pendence proceedings and against all and any costs,
expenses, charges, out going damages and risk at all times arising from any suit, eviction,
action, claim or demand whatsoever in relation to the titles of the property, to the extent of
losses suffered by the Lessor and against all covenants, representatives and warranties
made and agreed by the Lessor. The Lessor hereby assures the Lessee that it will extend its
utmost co-operation occupation on the Schedule Premises during the Lease period subjects
to the terms and conditions as contained herein.
11. That all the taxes or levies including Property Tax or any other charges on the property
(except for Service Tax on Lease Rentals) payable to Government or municipal authority shall
be the responsibility of the Lessor and shall be regularly paid by the Lessor so as not to
cause any interference or disturbance in the procession or enjoyment of the Schedule
Premises by the Lessee.
12. All day to day repairs such as fuses, leakages of taps, replacement of glass panes and such
other minor repairs shall be made by the Lessee at its own cost. However, all major and
structural repairs such as seepages on walls, cracks in the structure, replacement of hidden
sanitary pipes shall be undertaken by Lessors at its own cost and expenses, provided the
same are not caused by the Lessee’s commissions/ omissions and misuse. Such major and
structural repairs shall be carried out by the Lessor within 15 days of receiving a notice in
writing for the same form the Lessee. However, in case the Lessor fails to remedy the said
repairs within the stipulated time, then the Lessee shall be entitled to remedy the said
repairs and recover the amount spent form the rent payable to the Lessee.
13. That if any time during the Lease Period, Scheduled Premises are destroyed or damaged or
any other means so as to become unfit for use, occupation and habitation then the rent
hereby reserved or a fair and just proportion thereof according to the nature and extent of
the damage sustained shall be suspended and cease to be payable until the Scheduled
Premises shall have been again rendered fit for use, occupation and habitation Provided that
this agreement shall be without prejudice to all other rights and remedies to which the
Lessee is or may be entitled by statute or otherwise including the right to terminate this
Lease which the Lessee hereby expressly reserves. However, in case the Scheduled Premises
remain unfit for use, occupation and habitation for a period exceeding 12 weeks then it
would be open to the Lessee to terminate this agreement without notice.
14. That the present lease may be terminated by the Lessee at any time upon serving a notice
of three months but subject at all times to the obligation of the Lessee to pay monthly rent
for a minimum period of 12 months (lock-in-period) from the date of execution of this lease
including the notice period on the terms and conditions as contained herein. In the event of
the Lessee opting for vacating the Demised Premises at any time prior to expiry of 12
months from the date of commencement of this Lease, rentals for the balance un-expired
stipulated Lock-in-period of 12 months from the date of commencement of this lease shall
be payable by the Lessee to the Lessor. In such a situation, if the Lessee demanded refund of
Interest Free Security Deposit, the Lessor shall be entitled to deduct outstanding Lease
rentals from the Interest Free Security Deposit for the balance/ unexpired Lock-in-period.
15. That any notice required to be served upon the Lessee shall be sufficiently served and given
if delivered to it at the address first given above, or such other address as may by
communicated later on for the purpose. That any notice required to be served upon the
 Lessor shall be sufficiently served and given if delivered to it at the address first given above,
or such other address as any be communicated later on for the purpose.
16. The Lessor and the Lessee represent that they are fully authorized empowered and
competent to execute this Lease Deed and the Lessor shall hold the Lessee free and
harmless of any demands, claims, actions or proceedings by other in respect of peaceful
possession of the premises.
17. The Lease Deed shall be made and executed in original on stamp paper and the same shall
be registered as required by law. The expenses and costs including the stamp duty shall be
borne by the Lessee. The Lessor and Lessee have agreed that original lease deed will remain
with the Lessee and a true certified copy will be with Lessor.
18. No modifications or amendments to the terms and conditions of this Lease Deed shall be
valid or binding unless made in writing and duly executed by both Parties.
19. After expiry of the lease agreement, the Lessee shall vacate the demised property. However,
Lessor may enter into fresh agreement with the Lessee for a mutually agreed term at the
prevalent market rates. In the event of the Lessor decides to renew the lease, fresh Lease
Deed shall be made out and registered by the parties hereto. In case, the Lease is not
renewed as contemplated herein, Lessee shall handover the vacant, peaceful and physical
possession of the Scheduled Property to the Lessor and the Lessor shall refund the security
deposit to the Lessee forthwith. In case, the Lease is not renewed and the Lessee does not
handover the vacant physical possession of the Scheduled Property to the Lessor, lease rent
Rs.500/- per day will be charged by the Lessor from the Lessee for the period of default.
20. The Lessee has agreed to deposit a sum of Rs.2,00,000/- (Rupees Two Lakhs only) with the
Lessor out of which Rs.1,00,000/- (Rupees One Lakh Only) paid on this day by way of cash
and remaining amount of Rs.1,00,000/- (Rupees One Lakhs Only) shall be paid within four
months from today.