Advertising Agreement

This advertising agreement made this 15th day of May 2000 between ELH Ltd. a company registered under the Companies Act 1956 and carrying on business at 54 Ganesh Chunder Avenue, Calcutta 700 013 (hereinafter referred to as the 'owner' which term shall include its successors and assigns) of the One Part and Advertising Co. Ltd. a company registered under the Companies Act 1956 and carrying on business at 11 Park Street, Calcutta 700 016 (hereinafter referred to as the advertiser which term shall include its successors and permitted assigns) of the Other Part.
Whereas the owner is seized and possessed of the land and building being premises No. 54 Ganesh Chunder Avenue, Calcutta 700 013, having frontage on the open main road with 10 ft. wide open space.
And whereas the advertiser has approached the Owner for utilising part of this open space facing the road for the purpose of erecting structures, fixing the Board or hoarding and advertising the products for its customers.
And whereas the advertiser has agreed to obtain the necessary permission of the concerned authorities at its own expenses and costs and the owner has agreed to sign and/or join in signing all applications and documents necessary for the purpose of obtaining permission for erecting the Board and/or hoarding and advertising.
And whereas the advertiser has agreed to pay a monthly licence fee from the date of execution of these presents and to increase such payment by 10% on obtaining the necessary permission for erecting the structure and fixing the Board and writing the advertisement thereon.
And whereas the owner has agreed to the proposals.
Now these presents witnesseth and the parties hereto agree as follows:
1. The advertiser will obtain necessary sanction and permission from the authorities concerned for fixing two pillars of iron and steel within the open space of premises No. 54 Ganesh Chunder Avenue, Calcutta 700 013 on the North-Western corner and to fix the Board made of wood and tin of a size of 10 ft. wide and 20 ft. in height and to write on the Board such matters as are permissible under law for the purposes of advertising the products of the advertiser or the Advertiser's customers.
2. Advertiser will pay and bear all the costs, charges and expenses for the erection of the Board, writings and all rates taxes and levies payable in relation thereto.
3.  The advertiser will keep the owner harmless from and indemnified against all actions, proceedings, claims, losses damages and expenses for such erections, setting up of the Board for advertisements or any act of the ADVERTISER.
4. In consideration of the owner having agreed to allow the advertiser to erect the pillars, fixing the Board and writing the advertising matters the advertiser would pay to the owner a Licence fee of Rs. 10,000 per month in advance by the 10th day of each month commencing from May 2000.
5.  The advertiser will keep in deposit with the owner a sum of Rs. 1 lakh free from any interest by way of Security.
6. The advertiser agrees that it will not display any objectionable matter or any matter which may cause annoyance to the public or in a manner which will cause nuisance to the locality or cause any injury to the building of the owner or to any next building.
7. The owner agrees to allow the authorised employees of the advertiser and its authorised representatives to enter the said premises for erection of the poles and/or pillars, fixing of the board and writing the advertising matters on proper notice and during the hours that may be mutually agreed to without causing any inconvenience to the premises or to the neighbours.
8. The advertiser shall maintain the said erection and advertising board in good condition and repair, make it absolutely safe for the inmates of the premises and others who may happen to be inside or outside the premises, with or without licence or any member of the public who may happen to be near the said Advertising Unit.
9. This agreement will be for a period of 5 years commencing from 15th May 2000 with the option of renewal for another five years at an enhanced licence fee to the extent of 30% of the then existing rate on terms and conditions to be mutually agreed upon.
10.  The advertiser agrees to pay all costs, charges and expenses and Stamp Duty, if any, for registering this Agreement.
11. The advertiser may use Neon Signs or any other Visual Signs on the Board to be fixed or otherwise on the structure in a manner permissible under law and for this purpose make an arrangement to take electric connection from the owner's lines with the permission of CESC Ltd. and having a sub-meter for that purpose at the cost and expenses of the advertiser and the advertiser would be liable to pay the bills for the consumption of electricity, and other charges, according to the readings of the sub-meters.
12. The advertiser hereby agrees and undertakes to attend to any repairs or any other defects within 24 hours of the complaint made by the owner or other aggrieved person and on failure to do so the owner will get the repairs done at the cost and expenses of the advertiser which the advertiser undertakes to pay to the owner within 3 days of the submission of the bills.
13.  All disputes and differences arising out of or in relation to these presents or the subject-matter hereof shall be referred to the Arbitration of Mr. P.K. Lekhi whose decision shall be final and binding on the parties and in accordance with the provisions of Arbitration and Conciliation Act 1996.
In witness whereof the parties hereto have executed these presents on the day, month and year first above-written.
Signed, sealed and delivered by
Mr.........................................
pursuant to the Board Resolution
dated..................of ELH Ltd., the
owner in the presence of:                                               Signature
Signed, sealed and delivered by
Mr.........................................
pursuant to the Board Resolution of   
Advertising Co. Ltd., the
advertiser dated.........................
in the presence of:                                                          Signature