Lease Disguised As Licence - Legal Draft

This Agreement made

this . between Shri RL and Shri KK both partners of .. hereinafter

called the FIRST PARTY of the One part and . (P) Ltd., having its

Registered office at . through its Managing Director Shri SJ

hereinafter called the SECOND PARTY of the Other part.WHEREAS the SECOND

PARTY is the owner of a Bungalow No. 4 situated at .. and more fully

detailed at the foot of this deed which along with Mill No. 2 and other

properties had been allotted to the share of SECOND PARTY under a decreeAND WHEREAS the FIRST

PARTY requested to SECOND PARTY to allow him to use the said Bungalow

temporarily for residence-cum-Business purposes the SECOND PARTY having

accepted the said request of the FIRST PARTY on . agreed to allow the

FIRST PARTY to use the said Bungalow as a licence for a period of 2 years

commencing form . on payment of a sum of Rs per month as licence

fee and on the terms and conditions mutually agreed to between the parties ANDAND WHEREAS the FIRST

PARTY is using the said Bungalow from .AND WHEREAS the

parties now desire that the terms and conditions on which the FIRST PARTY has

been allowed to use the said Bungalow be reduced to writing.THEREFORE THIS

AGREEMENT WITNESSETH that the FIRST PARTY on the following terms and conditions

which have been mutually agreed to between the parties.1.

That

the FIRST PARTY shall use the said Bungalow more fully detailed at the foot of

this deed only for a period of 2 years commencing from only for

purpose of Residence and carrying on their business of selling and repairing

Tractors and agriculture implements.2.

That

the FIRST PARTY shall pay to the SECOND PARTY a sum of Rs.. per moth as

licence fee for the used of the said Bungalow.3.

That

the FIRST PARTY has paid to the SECOND PARTY a sum of Rs.. as licence fee

for a period of one year i.e. from .. to .. in the manner that a sum

of Rs.. had been paid on . Vide Receipt dated and the balance

amount of Rs.. has been paid today at the time of execution of this

Agreement under a separate receipt dated shall be paid. The licence fee

for the period subsequent to .. shall be paid the FIRST PARTY every month

on or before .. of each month, the first payment now shall be made by FIRST

PARTY on or before . and thereafter on or before . of each succeeding

month till .when the licence granted shall expire.4.

That

all the repairs, white washing, electric fittings, painting etc. which may be

necessary in the said Bungalow shall be done by the FIRST PARTY at his costs.

The FIRST PARTY shall also be entitled to make such additional and new

constructions at his costs as he may desire in the open space appertaining to

the said Bungalow but on account of such constructions or repairs, the FIRST

PARTY shall not be entitled the claim that the licence granted on him has

became irrevocable . On the expiry of the licence FIRST PARTY shall not be

entitled to remove any of the materials which shall be used by him in raising

the said constructions . But its is specifically agreed that in case the FIRST

PARTY gives up using the said Bungalow on whatever account, before the expiry

of 2 years for which this licence is given, then he shall be entitled to remove

from the new constructions only such things which could be easily removed

without damaging the masonry work in addition to this the FIRST PARTY shall

also be entitled to claim and get from the SECOND PARTY the cost of Bricks

which might be purchased and used by the FIRST PARTY in making such new

additional construction in the open space.5.

That

the FIRST PARTY shall also be entitled to construct one Flush Type Latrine in

the said Bungalow. A sum of Rs shall be contributed by the SECOND PARTY

towards the costs of the said latrine and the rest shall be borne by the FIRST

PARTY who shall not be entitled to remove any part of this latrine.6.

That

the SECOND PARTY shall provide a water pipe connection in the said Bungalow but

the cost of excess water, which may be used by the FIRST PARTY, shall be paid

by him.7.

That

the Municipal Taxes in respect of the Bungalow shall be paid by the SECOND

PARTY but any other tax which may thereafter be imposed by any authority on the

properties shall be payable by the FIRST PARTY.8.

That

the original agreement bearing stamp of Rs. shall remain with the SECOND

PARTY and a Carbon copy of it which is also signed with the SECOND PARTY shall

be bound to produce the original before such person or authority as may be

required by the FIRST PARTY.Details of Bungalow :IN WITNESS WHEREOF

the parties have signed this deed in presence of the following witnesses:Witnesses: Sd/.1.. First Party2.. Sd/.Second Party