AGREEMENT TO MODIFY A LEASE

Agreement made at ..…………………… this ……………. day of …………… between (1) …………………. and (2) ………………… of ………………….. hereinafter referred to as the Lessors of the One Part and ………………….. Ltd., a Company registered as a public company limited by shares under the Companies Act and having its registered office at ……………………......... hereinafter referred to as the Lessee of the Other Part.

WHEREAS

(1) By a Deed of Lease dated the day of …………………… made between the Lessors and the Lessee and registered at the office of the Sub-Registrar at ..…………………… under Serial No. ………… on the ………………. day of ………………… the Lessors have demised to the Lessee a large tract of land described in the Schedule thereunder written being the same as described in the Schedule hereunder written for a period of ……. years from the date of the lease at the rent and on the terms and conditions therein mentioned.

(2) The period of the said lease is about to expire and the Lessee has requested the Lessors to extend the said period by another period of …… years which the Lessors have agreed to do on the Lessee agreeing to pay enhanced rent.

Now it is agreed and declared by and between the Parties hereto as follows.

(1) The period of …….. years mentioned in the said Deed of lease and for which the Lease has been granted is hereby extended to another period of ……. years from the ……………… day of ………………… being the date on which the said lease expires.

(2) The Lessee covenants that as from the said day of ………………. the Lessee shall pay the yearly rent of Rs. …………. in advance instead of Rs. …………. as mentioned in the Deed of Lease mentioned.

(3) The said demised land shall be deemed to have been demised by a further period of ………….. years as aforesaid to the Lessee on the same covenants, terms and conditions and other provisions (subject to the quantum of rent as enhanced) as are contained in the Deed of Lease as if they were incorporated in these Presents and subject as aforesaid the said Deed of Lease will continue to be in force and binding on the Parties for the extended period of 50 Years.

The Schedule above

Signed and delivered by the withinnamed
Lessors ……….. & ………… in the presence of

Signed for and on behalf of the said Lessee
…………………… Ltd. by its Managing Director )
Mr. ………………. duly authorised in that behalf by )
the Board of Directors by resolution dated .……….. )
in the presence of ..……………. )