LEASE OF OWNERSHIP FLAT
THE DEED OF LEASE is made at... this... day of between Mr. ...................residing at ... hereinafter referred to as 'the Lessor' of the One Part and M/s. ...............................& Co. Pvt. Ltd, a Company registered under the Companies Act, having its registered office at............. hereinafter referred to as "the Lessee" of the Other Part;
WHEREAS -
1. The Lessor is the Owner of a Flat/shop/office premises bearing No... on the…floor of the building known as and belonging to the………..Co operative Housing Society Ltd., and which is situate at ... and is more particularly described alongwith the land appurtenant thereto in the Schedule hereunder written.
2. The Lessor is occupying the said Flat/shop/office premises (herein after referred to as the said Flat) as a member of the said Society and is holding five shares in the share capital of the said Society.
3. The Lessor has thus a right to occupy the said Flat and which is now recognised as a property itself.
4. The Lessee has approached the Lessor to grant a lease of the said flat to enable the Lessee to accommodate any of its Officers stationed in. ... for residential purposes.
5. The Lessor has agreed to grant a lease of the said flat for a period of ... years on the following terms and conditions.
6. The Managing Committee of the said Society has granted permission to the Lessor to grant this lease subject to certain conditions.
NOW THIS DEED WITNESSETH that pursuant to the said agreement and in consideration of the rent hereby reserved and subject to the covenants, terms and conditions herein contained the Lessor doth hereby demise unto the Lessee all that his right to occupy the said flat as aforesaid and all his right, title and interest in the said flat unto the Lessee TO HAVE AND TO HOLD the same for a period of............ years commencing from the 1st day of ... next but subject to earlier determination thereof as herein provided and yielding and paying therefor during the said terra the monthly rent of Rs... free and clear of all deductions and strictly in advance on or before the ... day of each and every calender month, the first of such monthly rent to be paid on or before the .............. day of………..next and subsequent rent to be paid on or before the ............... day of every succeeding month regularly.
(2) The Lessee hereby to bind itself and its successors covenants with the Lessor as follows:-
(a) To pay the said rent regularly as aforesaid.
(b) To pay all proportionate taxes payable in respect of the said flat either to the Municipal Corporation direct or through the said Society.
(c) To pay all maintenance and other recurring charges payable to the said Society in respect of the said flat as will be fixed or prescribed by the Society from time to time.
(d) To maintain the said flat in good condition and repairs and to whitewash the same from inside every two years atleast.
(e) Not to carry out any structural or major repairs to the said flat and not to make any alterations in the existing position room-wise of the flat.
(f) Not to cause any annoyance or nuisance to the occupants in the said building.
(g) Not to commit breach of any bye-law or the rules or regulations of the said Society and to observe the conditions on which the Society has granted permission of this lease,
(h) Not to allow any person to occupy the said flat on behalf of the Lessee or otherwise except any Officer of the Lessee in actual service and his family,
(i) To take an undertaking from the Officer that he will observe the covenants hereby given by the Lessee and shall vacate the flat when he ceases to be an employee for whatever reason,
(j) To pay all charges for consumption of electricity, water, gas and other supplies if any provided in the flat to the authorities concerned,
(k) Not to use the said flat for any purpose other than residence of the Officer of the Lessee.
(l) To allow the Lessor or his agent to enter into the flat for inspection thereof during day time,
(m) To vacate or cause to be vacated the said flat on the expiration of the said term or earlier determination thereof,
(n) Not to cause obstruction in the common spaces and passages in the said building or to store any goods therein,
(o) Not to do or cause to be done any illegal or objectionable thing,
(p) Not to assign the said flat and the lease hereby granted in any way and not to allow the said flat to be given on lease, leave and licence basis. 3. And the Lessor doth hereby covenants with the Lessee that -
(i) The Lessor has in himself good right and power to demise the said flat in the manner herein mentioned,
(ii) On the Lessee paying the every monthly rent on the due date thereof as provided herein and observing and performing by itself and through the Officer of the Lessee occupying the flat.
(iii) the covenants, conditions and stipulations herein contained and on its part to be observed and performed shall and may peaceably and quietly, possess and enjoy the demised premises (the said flat) during the said term hereby created without eviction, interruption, disturbance, claim and demand whatsoever by the Lessor or person claiming under him.
And it is hereby agreed and declared by these presents that if the said monthly rent or any part thereof payable in the manner aforementioned shall be in arrears for the space of two months after the same shall have become due and payable as aforesaid whether the same shall have been demanded or not or if any of the covenants terms and conditions herein contained on the part of the Lessee to be observed and performed by the Lessee or any person on its behalf, shall not be observed and performed by the Lessee or its said Officer then and in such event it shall be lawful for the Lessor or any person claiming under him or in trust for him to enter upon and unto the said flat and the same to have, possess, enjoy and thereupon, or if after notice to vacate the said flat for any of the reasons aforesaid, the Lessee fails to vacate the same, then this demise shall absolutely determine, without prejudice to any other rights of the Lessor against the Lessee.
This Deed is executed in duplicate and an original thereof will remain with the Lessee and the duplicate with the Lessor.
IN WITNESS WHEREOF the Lessor and the Lessee have put their hands the day and year first hereinabove written.
THE SCHEDULE ABOVE REFERRED TO :
Signed and delivered by the withinnamed Lessor in the presence of...
Signed and delivered for and on behalf of the Lessee M/s. ..........................& Co. Pvt. Ltd., by its Managing Director Mr. . . . duly authorised in that behalf in the presence of
