DEED OF SURRENDER OF A PART OF THE PREMISES IN CONSIDERATION OF GRANT OF LEASE OF SOME OTHER PREMISES
THIS DEED OF SURRENDER is made at …..…………………. this ……………. day of ……………………. between Mr. …..……………… hereinafter referred to as the Lessor of the One Part, and Mr. ………………….. hereinafter referred to as the Lessee of the other Part.
WHEREAS
1. By a Deed of lease dated ………… made between the Lessor and the Lessee, the Lessor, in consideration of the rent thereby reserved and the terms and conditions therein mentioned demised unto the Lessee for a term of …….. years commencing from the said date all that piece of land described in the Second Schedule thereunder written being a portion of the larger piece of land described in the First Schedule thereunder written being the same respectively described in the Second Schedule hereunder written.
2. The said lease is still valid and subsisting.
3. The Lessor desires to develop the land described in the First Schedule hereunder written excluding the demised portion thereof described in the Second Schedule hereunder writtten but such development is not feasible unless some part of the demised land is also available to the Lessor.
4. The Lessor therefore requested the Lessee to surrender a part of the demised land admeasuring about ………….. sq. meters on the western side of the demised land and which is more particularly described in the Third Schedule hereunder written and in lieu or consideration of the Lessor demising to the Lessee a portion of the said land described in the First Schedule hereunder written another equivalent portion thereof which is more particularly described in the Fourth Schedule hereunder written and which the Lessee has agreed to do.
5. The land described in the First Schedule hereunder written is delineated on the plan hereto annexed by boundary line coloured red, the demised land described in the Second Schedule hereunder written is delineated on the said plan by boundary line coloured green, the portion of the demised land proposed to be surrendered is delineated on the said plan by boundary line coloured yellow and the portion of the land proposed to be demised in lieu of the land proposed to be surrendered is delineated on the plan by boundary line coloured black.
Now this deed witnesseth that in the premises and pursuant to the said Agreement and in consideration of the Lessor granting a lease of the land described in the Fourth Schedule hereunder written on the same terms and conditions as are contained in the said Deed of Lease, the Lessee as beneficial owner doth hereby assign and surrender and quit claim to the said portion of the land described in the Third Schedule hereunder written and delineated on the said plan hereto annexed by the boundary line coloured yellow and forming part of the demised land described in the Second Schedule hereunder written unto and to the use of the Lessor with intent and purpose that the term of ……..…. years granted by the said deed of lease in respect of the said land described in the Second Schedule hereunder written shall cease and come to an end and become merged and be extinguished in the reversion immediately in favour of the Lessor and the Lessee's interest in the said portion of the land described in the Third Schedule hereunder written shall revert back to the Lessor to the intent that the Lessor shall hold the said portion of land described in the Third Schedule hereunder written as full owner and free from the said lease and from all liability claims and demand in respect of all breaches if any of the covenants contained therein or otherwise arising under the same. And the Lessee covenants with the Lessor that he has not done any act deed or thing whereby or by means whereof he is in any way, prevented from surrendering the said portion of the demised land described in the Third Schedule hereto from the said lease. And this deed further witnesseth that in consideration aforesaid the Lessor demises into the Lessee the said portion of the land described in the Fourth Schedule hereunder written and delineated on the plan hereto annexed by boundary line coloured black together with but excepting and reserving as mentioned in the said deed of lease to hold the said portion of the land described in the Fourth Schedule hereto unto and the use of the Lessee from the date of this deed for the residue of the term of …..……… years granted by the said deed of lease yielding and paying the rent reserved by the said deed of lease and subject to the covenants and conditions contained in the said deed of lease to the intent that (i) the rent reserved by the said lease is henceforth to be payable in respect of the remaining demised land and the portion of the land hereby demised and the covenants and conditions and other provisions contained in the said deed of lease shall apply in full force and effect to the remaining demised land as well as to the additional portion hereby demised as they originally applied to the demised land and (ii) any reference to the said lease and to the plan annexed hereto is hereinafter to be read and construed as a reference to the remaining demised land are to be read and construed as reference to the demised land as well as additional land demised by these presents together.
IN WITNESS WHEREOF the parties have put their hands the day and year first hereinabove written.
THE FIRST SCHEDULE ABOVE
THE SECOND SCHEDULE ABOVE
THE THIRD SCHEDULE ABOVE
THE FOURTH SCHEDULE ABOVE
Signed by the within named
Lessor in the presence of ………........... )
Signed by the within named
Lessee in the presence of ......………….. )
