Deed Of Building Lease Deeds Lease 1580 - Legal Draft
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Deed of Building Lease
This Deed Of Lease is made at ... this ... day of ... between Mr. A of ... hereinafter called 'The Lessor' of the One Part AND Mr. B of... hereinafter called 'The Lessee' of the Other Part;
WHEREAS —
1. The Lessor is absolutely seized and possessed of or otherwise well and sufficiently entitled to a plot of land situate at ... and more particularly described in the Schedule hereunder written.
2. By an agreement to lease entered into between the Lessor and the Lessee on the... day of... the Lessor agreed to grant a Lease of the said Plot of land for the period of... years at the monthly rent of Rs... on the condition inter-alia that the Lessee shall, before the grant of the Lease and within a period of one year from the date thereof, construct a building on the said plot of land, consisting of a ground with two upper floors as per the plans and specifications that will be approved by the Municipal Corporation of... for residential purposes.
3. Pursuant to the said agreement the Lessee has constructed a building with a ground and two upper floors in accordance with the plans sanctioned by the said Municipal Corporation.
4. The Lessee has now requested the Lessor to grant to the Lessee a lease in respect of the said land and the said building for a term of... years in the manner hereinafter appearing.
NOW THIS DEED WITNESSETH AS FOLLOWS:
1. In pursuance of the said agreement and in consideration of the rent hereby reserved and of the terms and conditions, covenants and agreements herein contained and on the part of the Lessee to be observed and performed the Lessor doth hereby demise unto the Lessee all that the said land together with the building constructed thereon as aforesaid and situate at ...in the Registration District... and Sub-District of... and more particularly described in the Schedule hereunder written (hereinafter for the brevity's sake referred to as 'the demised premises') to hold the demised premises unto the Lessee (and his heirs, executors, administrators and permitted assigns) for a term of.... years commencing from the 1st day of... 2005 but subject to the earlier determination of this demise as hereinafter provided and yielding and paying therefor during the said term the monthly rent of Rs,.. free and clear of all deductions and strictly in advance on or before the 5th day of each and every calender month, the first of such monthly rent to be paid on the 5th day of ... and the subsequent rent to be paid on or before the 5th day of every succeeding month regularly.
2. The Lessee hereby for himself, his heirs, executors, administrators and permitted assigns and to the intent that the obligations herein contained shall continue throughout the term hereby created covenants with the Lessor as follows :—
(a) To pay the said rent hereby reserved on the days and in the manner aforesaid clear of all deductions. Provided that, if the rent is not paid on the due dates the Lessee shall pay interest thereon at the rate of ... % per annum from the due date till payment, though the payment of interest shall not entitle the Lessee to make default in payment of rent on due dates or disentitle the Lessor of his rights under the Deed or in law to terminate the Lease.
(b) To bear, pay and discharge the existing and future rates, taxes and assessment, duties, cess, impositions, outgoings and burdens whatsoever (other than the land revenue payable to the Govt.) which may at any time or from time to time during the term hereby created be imposed or charged upon the demised premises and the building or structures standing thereon and for the time being standing on the demised premises and payable either by the owners, occupiers or tenants thereof and to keep the Lessor and his estate and effects indemnified against all such payment.
(c) To keep the said building on the demised premises in good and tenantable repairs in the same way as the Lessor would be liable to do under the law.
(d) The Lessee shall be at liberty to carry out any additions or alterations to the said building at present existing on the demised premises in accordance with the plans approved by the authorities at any time or from, time to time during the subsistence of the term hereby created. .
(e) Not to sell or dispose of any earth, gravel, or sand, from the demised land and not to excavate the same except so far as may be necessary for the execution of construction work, (f) To use or permit to be used the said building for; residential purposes only.
(g) Not to put any additional building or structure on the said land without the prior written consent of the Lessor and which the Lessor may grant subject to such increase in rent as may be agreed upon.
3. The Lessor doth hereby covenant with the Lessee that:—
(a) The Lessor now has in himself good right full power and absolute authority to demise unto the Lessee the demised premises and the said building standing thereon in the manner herein appearing.
(b) he shall pay the land revenue payable in respect of the said plot of land to the Government and shall keep the Lessee indemnified against the same.
(c) that on the Lessee paying the said monthly rent on the due dates thereof and in the manner herein provided and observing and performing the covenants, conditions and stipulations herein contained and on his part to be observed and performed, the Lessee shall and may peaceably and quietly hold, possess and enjoy the demised premises together with the said building standing thereon during the term hereby created without any eviction, interruption, disturbance, claim and demand whatsoever by the Lessor or any person or persons lawfully or equitably claiming by, from, under or in trust for him.
4. It is hereby agreed and declared that these presents are granted on the express condition that if the said monthly rent or any part thereof payable in the manner hereinbefore mentioned shall be in arrears for the space of three months after the same shall have become due and payable on any of the said days whereon the same ought to be paid as aforesaid whether the same shall or shall not be legally demanded or if any of the covenants and stipulations herein contained and on the part of the Lessee to be observed and performed shall not be so observed and performed by the Lessee or if the Lessee shall raise an objection to the amount of the monthly rent hereby fixed for any reason whatsoever or if the Lessee is adjudged insolvent then and in such event it shall be lawful for the Lessor or any person or persons duly authorised by him in that behalf at any time hereafter to enter into and upon the demised land and premises or any part or parts thereof in the name of the whole and the same to have, possess and enjoy and thereupon this demise shall absolutely determine but without prejudice to the right of action of the Lessor in respect of any breach of any of the covenants by the Lessee herein contained PROVIDED ALWAYS that, no re-entry shall be made under the foregoing power for breach of any covenant and stipulation herein contained and on the part of the Lessee to be observed and performed (save and except the covenant for payment of rent) unless and until the Lessor shall have given to the Lessee a notice in writing specifying the covenant or stipulation which is required to be complied with or carried out and the Lessee shall have failed to comply with or carry out the same within one month from the date of the receipt of such notice.
5. AND IT IS HEREBY EXPRESSLY AGREED AND DECLARED BETWEEN THE PARTIES AS FOLLOWS:—
On the expiration of the term hereby created or earlier determination under the provision hereof all the buildings and structures standing on the demised land shall automatically vest in the Lessor without payment of any compensation therefor by the Lessor to the Lessee. The Lessee shall not be entitled without obtaining the permission of the Lessor, to assign mortgage, sublet (except to the extent of creating monthly tenancies) or otherwise part with possession of the demised premises or any of them or any part thereof and the buildings and structures standing thereon though such permission shall not be unreasonably withheld.
IN WITNESS WHEREOF the Lessor and the Lessee have put their respective hands on the original and duplicate hereof the day and year first hereinabove written.
THE SCHEDULE ABOVE REFERRED TO
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Signed and delivered by the
withinnamed Lessor ... )
in the presence of ... )
Signed and delivered by the
withinnamed Lessee ... )
in the presence of... )