​RENTAL AGREEMENT

This Rental Agreement is made and executed on _________ at _____________(city) by and between:

Sri  ___________S/o Sri __________, aged about  ___ years, Occupation: ________________, Resident of H.no_____________________________________________________.

(Hereafter called the “LAND LORD” of the first part)

AND

M/s  ________________ represented by its  Managing Partners  Mr _________________S/o  Mr ______________, aged about ___ years, Occupation: Business, Resident of  H.no _____________________________

(Hereafter called the “TENANT” of the second part)

Where as the landlord is the absolute owner and possessor of the scheduled property at   H.no ________________________________________________ (Hereinafter referred to as the “Schedule mentioned Property”  and the tenant with an intention to run his Business of  _____________________(type of business) and with the same intention approached the landlord for tenancy out of the said premises which is at the ground floor for a period of 24 months which can be extendable after mutual understanding between land lord and tenant.

Which was agreed to and the following terms and conditions, mutually between the parties:

1. That the tenancy for the restaurant shall commence with effect from the ____________________date.
2. That the tenant here with deposits a sum of Rs. __________/- (In words _____________ Only) as a security which is refundable at the time of vacating of the said premises after expiry of the said agreed period of 24 months. The Security deposit is paid through the following cheque:

Cheque No: __________  Date ____________Amount Rs ___________drawn on________________________ Bank  

1. After the completion of the tenure of 24 months rent will be enhanced by 7% every year.
2. That the monthly rent shall be Rs. _________/- (In words __________________ only ) which is payable on or before 5th of every month and tenant will deduct TDS from the above said amount as per the rate applicable under the Income tax act .
3. That the Land lord agreed to give parking space in cellar to Tenant for restaurant.
4. The tenant agrees to bear and pay the Electricity, water and other charges such as license fees etc which are connected to their business, in addition to the rent hereby agree. The landlord will pay the property tax due for the said premises.
5. The tenant agrees that he shall be liable for eviction in case of failure to pay monthly rent for a period of 2 consecutive months.
6. That the tenant agrees not to make any kind of structural additions or alterations without prior notice of the landlord.
7. The tenant agrees that he shall not cause any kind of damage to the premises and shall return it in the same good condition it is being delivered. In case of any damage to the premises found, the landlord shall be entitled to deduct the cost incurred for repair and rectification out of the deposit amount and return only the balance deposit amount at the time of vacating of the Restaurant.
8. The tenant shall keep the premises neat, clean and in healthy condition during the period of tenancy and shall allow the landlord or his authorized representative to inspect the premises at any time during normal working hours.
9. The tenant hereby undertake not to raise any objection for further construction of the third floor over the scheduled premises by the landlord and the construction shall go without any interruption
10. The tenant shall not make any additions, alterations, fittings etc. without the express permission of the landlord and they shall not claim any compensation for any such additions, alterations, fittings, and whatever may be there in the premises at the time of termination of the tenancy or vacating the said premises without claiming any compensation from the landlord.
11. It is further agreed that in case of breach of any conditions by the tenants, the landlord any terminate the tenancy and on such termination, the tenants shall be bound to vacated the same.
12. It is mutually agreed that the tenant shall vacate and deliver vacant possession of the premises with three months prior notice by either party.
13. The tenant agree and undertake to conduct their business fulfilling all legal requirements and also pay all taxes, levies and dues connected with their business and shall continue to pay the monthly rent to the landlord even if they keep the business closed for any length of time for any reason whatsoever.
14. landlord hand over the premises to the tenant in good condition on 13thof Aug 2010
15. The landlord not to be held responsible or liable for any losses or damages suffered by the tenant or it’s employees, servants, agents and visitors on account of any theft, fire or other accident caused to the premises.
16. If any short circuits occurs in the leased premises only tenant is responsible.

SCHEDULE OF THE PROPERTY

All that the premises situated at the H.no _______________.

In witness whereof the parties herein have affixed their signatures with free will on this day, month and year above mentioned.

 

 

 

Witnesses:

1.                                                                                             LAND LORD

2.                                                                                             TENANT