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Rental agreement for shop

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RENTAL AGREEMENT

This Deed of Rental Agreement made at [Address] on this the 24.02.2009 between [NAME ],w/o. [NAME], aged 57 years residing at [ADDRESS] hereinafter referred to as the LESSOR. AND [COMPANY NAME] by Proprietor [PERSON NAME], aged 57 years, S/o.[NAME] having office at [ADDRESS] hereinafter referred as LESSEE.

Whereas the Lessor is absolutely seized and possessed or otherwise well and sufficiently entitled to the premises described in the schedule hereunder and hereinafter referred as the demised premises.

Whereas the Lessee requested the Lessor to lease out the property more particularly described in theedule hereunder on a monthly rental basis to the Lessee for the purpose of running their business of manufacture of conveyors and fabrication and for the said purpose the Lessor and the Lessee have decide to reduce in writing the terms and conditions governing the said lease agreement. Now this Deed of Rental witnesseth: 1. In consideration of the rent hereinafter reserved to be paid by the Lessee to the Lessor and of the convenants and conditions hereinafter contained to be observed and performed by the parties hereto, the Lessor doth hereby demise unto the Lessee the premises described in the schedule hereunder together with such rights, assessments and appurtenances and fixtures there of (hereinafter referred as the demised premises) to hold the said demised premised unto and to the use of the Lessee o n monthly rental basis from 24.02.2009 to 24.1.2010 (Eleven months period) on Rs 8500/- monthly rent and Rs 8500/ - maintenance, so total Rs.17000/-(seventeen thousand Rupees only) per month payable on or before the 7th day of the month following the English calendar without any deduction whatsoever. If the Lessee and the Lessor wishes to continue the lease period, the Lessee has to pay 10% increase in the current rent. 2. The Lessor admits and acknowledges that a sum of Rs.17000/- (Rupees seventeen thousand only) paid by the Lessee to the Lessor as advance and this sum is to be treated as an advance repayable by the Lessor to the Lessee without interest at the time of termination of the lease period, on vacating the premises by the Lessee in a good and tenantable condition, but subject to natural wear and tear.

3. The Lessee doth hereby convenant with the Lessor that they will during the said term of the Lease pay unto the Lessor the said rent on the days and in the manner herein before provided and non payment of rent for three months at any time will be deemed to be wilful default on part of the Lessee and Lessor will be entitled to evict the Lessee on the ground of willful default not withstanding the un-enjoyed portion for the lease period. 4. It is hereby agreed that a notice period of 3(three) months in advance must be given on either side for vacating the premises if need arises. 5. The Lessee shall use the demised premises for their business and shall not subject the same for any other use. 6. The lessee shall not be entitled to use the demised premises if there is any change in the proprietory set up of their business on their assign, transfer, sublet or underlet or part with the possession of the demised premises or any part thereof in favour of any person or persons provided they obtain prior consent of the Lessor in writing. 7. The Lessee shall use the demised premises without inconvenience to the other tenants or immates in the said property of [ADDRESS] 8. The Lessee shall pay the electricity charges to the Lessor on the basis of submeter provided in the premises before the 7th day of the month as per the schedule rates prescribed by T.N.E.B., from time to time. Any infringement or violation of the prescribed rules therefore the Lessee shall not be able to avail the power. In such case, Lessee is liable to pay the Minimum charge based on the HP available. Penalty, additional charges, electrical maintenance have to be met at the expense of Lessee only. The Lessee is provided with 5 KV welding power Lessee is not supposed to exceed the current usuage. All machines used by the Lessee should be worked with capacitor compulsorily. 9. The advance above referred to will be returned to the Lessee by the Lessor without interest on the Lessee vacating the premises in vacant position as detailed in para 2 above after deducting any amount or amounts if any due by the Lessee to the Lessor. 10. If the above conditions and convenants on the part of the lessee are duly performed during the above said period of tenancy of Lessee have got the option of renewal of the lease of the demised premises on fresh terms and conditions that may be mutually agreed upon between the Lessor and the Lessee and fixation of rent in terms of the prevailing conditions at that time, on the Lessee prior intimation of their option for renewal to the Lessor atleast three months before the expiry of the period of the lease under these presents. 11. The Lessee shall not carry on any unlawful activity on the said premises nor should conduct any business of an explosive nature. SCHEDULE OF THE PROPERTY

A.C. sheet roof shed situated in [LESSOR ADDRESS]. Electrical power connection for 5 KV welding power.

LESSOR:

LESSEE:

ITEMS TO BE RETURNED Power connection from E.B. Room to the shed taken. a. Items in the E.B. Room 1. 100 Amp Main Switch 2. 30 Amp Meter 3. 62 Amp Fuse carrier b. Items in the shed 1. PVC wiring 144 Feet 2. 3 Phase switch board 3. 62 Amp Main Switch 4. Tube light set 5. Light frame … 4 set … 1 … 1 … 1 … … … 1 1 3 set

These items should be returned in a good condition. In addition to it flooring & white wash also should be done when vacating. In witness whereof the Lessor and the Lessee sign these presents on the day month and year first above written in the presence of :

Lessor:

Lessee: Witnesses:

Promissory Note

On demand, I [LESSOR NAME], W/o.[NAME], aged 57 years, residing at [LESSOR ADDRESS ]promise to pay Mr.John sigamoney aged 57, proprietor of [LESSEE OFFICE ADDRESS] the sum of Rs95000/- (Ninety five thousand only) without any interest being money received by cheque on 01-01-2009 for meeting my personal expenses.

Rs. Dated: (LESSOR)


				
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