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Agreement Of Licence Of Godown For Storage Deeds Leave & License 1610 - Legal Draft

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Category : Deeds Leave And License

AGREEMENT OF LICENCE OF GODOWN FOR STORAGE

Agreement of leave and licence made at................this day of..........between Mr A hereinafter referred to as the Licensor of the One Part and Mr X.Y.Z. a partnership firm consisting of (1) (2) (3) as partners carrying on business at .......hereinafter referred to as the Licensees of the other Part as follows -
WHEREAS
The licensor owns a godown at.................  which is vacant.
And whereas the Licensees are carrying on clearing and transporting business and are in need of a storage place to enable them to store goods received by them for clearance and transport.
And whereas the Licensor has agreed to give the said godown on licence basis to the licensees for a period of two years on the following terms agrees upon.

Now it is agreed by and between the Parties hereto as follows:
1. The Licensor grants permission to the Licensees to use the said godown for storing their goods in transit received for clearing and transport from or to the customers
2. The permission will be only for a period of two years from the date hereof and on expiration of the said period or an earlier termination of this agreement as herein provided whichever event happens earlier the licensee shall handover vacant possession of the said godown to the licensor.
3. During the period of the licence the Licensee shall pay to the Licensor a monthly sum of Rs

..................as compensation for the use of the said premises, to be paid on or before the 5th day of each month in advance for that month.
4. The Licensees shall also deposit with the Licensor a sum of Rs ............. without interest and which will be refundable to the Licensees on the termination of the agreement by efflux of time or otherwise, subject to the deduction of any amount payable by the Licensees to the Licensor under or by virtue of this agreement.
5. The Licensees shall not stock any goods which are hazardous or dangerous or which are illegally imported or to be exported or are liable to confiscation for non-payment of custom and other duties or otherwise.
6. The Licensor will be entitled to enter the godown during office hours for inspection by previous intimation oral or in writing to the Licensees or their agent.
7. The Licensees shall keep and use the godown without causing any damage thereto and in the event of any damage shall make good the same forthwith.
8. All the municipal and other taxes in respect of the said down will be paid by the Licensor but the Licensees shall pay the electric and water bills for electricity and water consumed as and when they became due and shall indemnify and keep indemnified the Licensor in respect of such liability.
9. If the Licensees fail to pay the monthly compensation regularly and co m mit any default or commit breach of any term of this agreement or if the Licensee's firm is dissolved or all the present partners mentioned above cease to be partners of their firm or become insolvent then the Licensor will have the right to terminate the agreement by fifteen days notice to the licensor and the termination of the said period agreements will stand terminated.
IN WITNESS WHEREOF the Parties have put their hands the day and year first hereinabove written
Signed and delivered by the
within named Licensor A in the presence of
Signed and delivered by the within named
partner of the Firm of M/s X Y Z and Co in the presence of

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