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AGREEMENT OF LEASE

THIS AGREEMENT TO LEASE IS MADE AND ENTERED INTO AT MUMBAI on this _____ day of ___________, 200__ BETWEEN _______________________, Age:_____ Years, Occupation: Landlady an Indian Inhabitant of Mumbai residing at hereinafter referred to as "Lessor" (which expression shall unless repugnant to the meaning and context hereto mean and include her heirs, executors, administrators and assigns) of the One Part AND _____________________________________, a Government of India Undertaking having its registered office at having its Mumbai Office at _________________________________________ hereinafter referred to as "the Lessee", (which expression shall unless repugnant to the meaning and context hereto mean and include its successors in title) of the Other Part;

WHEREAS the Lessor is the owner of the premises admeasuring _________ about sq. fts. in carpet/built-up area on the th floor of Building known as " ", situate at _________________________, Mumbai - 400 0 , which premises are hereinafter referred to as the demised premises;

WHEREAS the Lessee became the monthly tenant in respect of the demised premises AND WHEREAS upon coming into force of the Maharashtra Rent Control Act, 1999 w. e. f. 31st March, 2000, the Lessee has lost protection available under the Bombay Rent Control Act, 1948, as the premises let or sub-let to a public limited company- having the paid- up share capital of Rs. One crore or more are exempted from the provisions of the Maharashtra Rent Control Act, 1999;

AND WHEREAS the parties hereto held negotiations and have arrived at this Agreement and they are desirous of recording the terms and conditions of the Lease in respect of the demised premises NOW THIS INDENTURE WITNESSETH AS UNDER:-

1. The Lessor hereby agrees to grant lease in favour of the Lessee for a period of years in respect of the above demised premises commencing from 1st January, 200 upto 31st December, 200 .

2. The Lessee hereby accepts the grant of lease from the lessor in its favour for a period of years in respect of the demised premises commencing from ___________, 200__ upto ________________ 200 .

3. The lessee shall pay the monthly lease rent to the lessor @
Rs. /- less TDS at applicable rates on or before the 5th day of every month in advance. The lessee has paid a sum of Rs._______(Rupees
__only) for the period 1st January, 200 to 30th June, 200 on the execution hereof.

4. The lessee shall pay besides the monthly lease rent to the lessor Rs.____________/- per month or such further sum as may be fixed from time to time towards maintenance/society charges in respect of the demised premises.

5. The lessee shall also pay to the lessor Rs. /- per month or such further sum as may be fixed from time to time towards the permitted increases/share of property taxes.

6. The lessee shall remit the monthly lease rent as above and the maintenance/society charges and permitted increases/share of property taxes on or before 5th day of every succeeding month.

7. The lessee shall pay the electricity bills in respect of the demised premises regularly.

8. The lessee shall be entitled to display its sign-boards at the demised premises; but subject to the Society Rules and Bombay Municipal Corporation Rules and at its cost.

9. The lessee shall have access to the demised premises all the 24 hours and use, occupy and possess the demised premises for conducting its business; but subject to rules and regulations of the Local Bodies.

10. The lessee shall make its own arrangement for the insurance of its articles and goods in the demised premises at its own cost.

11. It is agreed by the parties hereto that the maintenance/society charges and permitted increases/share of property taxes are based on the prevalent rates and any increase or decrease in the same shall be adjustable on the lessee's account during the pendency of this Lease.

12. The lessee shall keep the demised premises in the same good condition, in which the possession of the said premises is handed over to the lessee by the lessor and shall return the same in such good condition at the expiry of the lease period or its earlier termination/determination.

13. The lessor shall give one month's notice to the lessee of termination in case of non-payment of monthly lease rent and other payments mentioned in clause Nos. 3, 4 and 5 above in respect of the demised premises before termination of the Lease and if the lessee pays up such arrears within the period of such Notice, such notice shall stand withdrawn and of no effect.

14. The requisite Stamp Duty and Registration charges and also the legal expenses in respect of this Indenture shall be borne by the Lessee alone.

15. The lessee shall not cause any nuisance and annoyance to the neighboring occupants.

16. The lessee shall observe all the rules and regulations and bye-laws of the said Co-operative Society Ltd.

17. The lessee shall not create any third party interest in the demised premises nor shall it part with possession of the demised premises or any portion thereof under any pretext, agreement or arrangement.

18. The lessee shall be entitled to terminate this Agreement by giving three months' advance notice to the lessor.

19. Upon the expiration of the terms herein set out- on the prior termination thereof, the Lessee shall be bound and liable to quit, vacate and hand over free, vacant and peaceful use, occupation and possession of the said premises to the lessor. It is clarified that on no account will the lessee fail, neglect or delay or claim protection under tenancy or any other law for the time being in force- whereby restoration of the use, occupation and possession is not immediately given to the lessor. Without prejudice to the aforesaid, it is agreed that in such event, the lessee shall be bound and liable to pay for the period of such delay, a sum equivalent to double the monthly lease rent hereby fixed.

20. For the purpose of communication/notice, the address of the parties shall be as under :-

Lessor:


Lessee:


IN WITNESS WHEREOF the Parties hereto have hereunto and to a duplicate hereof set and subscribed their respective hand the day and the year first hereinabove written.


SIGNED, SEALED AND DELIVERED )
by the within named: LESSOR: )
_____________________________ )
the Party of the First Part, )
in the presence of )

1.

2.

SIGNED, SEALED AND DELIVERED )
by the within named: LESSEE: )
___________________________ )
by the hand of its Authorised Signatory)
_____________________________ )
the Party of the Second Part, )
in the presence of )

1.

2.