Deed of Lease

 LEASE DEED

Draft

This  DEED OF LEASE  made on  10th  day  of  May  two thousand & thirteen   between  Dr. G.K. Kapoor S/o Sh Mohan Lal and Mr. Sudeep Kapoor S/o Dr. G. K. Kapoor both R/o A1/1002, Uniworld City, Sector 30, Gurgaon, Haryana and owner of the premises # Flat No. 901, Block A1, Uniworld City, Gurgaon  Haryana  hereinafter called "THE  LESSOR"  (with  respect  to  the  latter  premises)   which expression  shall  wherever the context    permits be  deemed  to include his heirs, successors, legal representative and  assigned of  the  one   part and M/s MARUTI  SUZUKI INDIA LIMITED  an  existing company   incorporated under the Companies Act 1956,  having  its registered  office  at  Plot No.1, Nelson Mandela Road, Vasant Kunj, New Delhi – 110070 through its  authorized   Manager  hereinafter called "THE LESSEE"  (which expression shall whenever the context permits  be deemed  to  include their successors and assigns)  of  the  other part, witnesses as follows:

 In consideration of the rent hereinafter reserved  and  all the covenants and conditions hereinafter contained to be observed and  performed  from the part of lessee, and the lesser  does  hereby grant, transfer, demise by way of lease, the premises  consisting of Living-cum-Dining Room, 3 bed-rooms, 3 toilets, Kitchen, servant room & balcony with covered area of 2346 sq ft  situated at Flat No. 901, Block A1, Uniworld City, Gurgaon  Haryana  of  which  the  lessor is entitled in law to  execute  this  deed together with the appurtenant land/space, the rights to make  use of  entrances, passages, staircases landing and  other  easements belonging and pertaining to the said premises unto and to the use of  the  lessee for a period of 11 months  commencing  from 15th May 2013 paying unto the lesser during the said period a rent of Rs 62,000  per  month   inclusive  of security maintenance and hire  charges  of  the  fittings  and fixtures   in  the  premises   and  subject  to   the   following conditions:

  The lessee hereby covenants with the lessor as follows:

1. That  the  lessee  shall pay to  the  lessor  the  said monthly  rent  by cheque / direct remittance to Bank Account No. 509902010009220, Union Bank of India, Jharsa Rd. Branch, Gurgaon  on  or before the 7th day of each English calendar Month.  The monthly rent cheque shall be made  in favour of Dr. G. K. KAPOOR or the amount directly credited to the said Account.  The lessor shall pay the maintenance charges directly to the concerned authorities as the monthly rental is inclusive of maintenance charges.

1. That the Lessee shall pay to the Lessor two months rent as interest free security deposit i.e. Rs. 124,000/- by cheque drawn in favour of Dr. G. K. KAPOOR which will be refunded at the time of vacation/early termination of the Lease Agreement, in case if the Lessor fails to return the said security deposit then the Lessee has the right to stay in the premises till the security deposit is refunded to the Lessee without paying any rent.

1. That the lessee shall use the demised premises for the residential  use of its executive Mr. Junya  Akiyama, who shall pay the charges for consumption of electricity , water  in the premises direct to the lessor or the concerned authorities as per the bills received by him. The lessee shall not have the right to allot the said premises to any of its executives without the prior consent of the lessor.

1. That the lessee shall permit the lessor, his agent’s etc. to enter upon the said premises for inspection or to carry out repairs when necessary.

1. That subject to the lessor’s covenants the lessee shall keep the interior of the demised  premises  in  good   order  and  condition  ( Reasonable    wear   &   tear  and damages by fire,  earthquake,  flood, tempest, lightning,  violence of any  army  or  of mob or  other irresistible   or  inevitable    force  or    accidents excepted)  and   attend   to  minor   repairs  such  as fuses, leakage of water taps etc.

1. That   the  lessee  shall  not  erect  on  the  demised premises  any permanent structure without  the  written consent  of  the lessor, provided that the   lessee may,  without  the consent of lessor,  erect  temporary partitions at his own cost.

1. That the lessee shall not sublet, assign, or otherwise part with possession of the demised premises without the consent of the lessor.

1. That  the  lessee/lessor shall be entitled  to  terminate  the lease  at any time during the initial or renewed  terms  of  the   lease  upon  serving  two month's  notice  in writing of its intention to  do so.

1. That the lessee shall deliver the demised premises to the lessor on the expiry or earlier termination of the lease together with the lessor's fittings and fixtures if any, in such conditions herein contained.

1. That  the  lessee  shall  be  liable  to  pay  for  any breakage/damage  to the sanitary, electrical goods  and fittings, including window and door glasses during  the tenancy period caused by the negligence of the  lessee, subject   to   the   reasonable  wear   and   tear   or breakage/damage by an act of Good excepted.

1. That  at the time of occupation, the lessee  shall  see that  all the sanitary, electrical and  other  fittings and  fixtures are in order and shall be responsible  to restore  them to the condition in which they  had  been taken over. Normal wear and tear and damage due to the act of God excepted.

2.    The lessor hereby covenant with the lessee as follows:

1. That  the  lessor shall pay all taxes,  rates,  license fees,  ground rent and charges of  whatever  character, assessed, levied, charged and imposed by or payable  to any lawful authority in respect of the demised premises and  if the lessor fails or neglects to pay  the  same, the  lessee may make such payment and deduct  the  same with interest at rate of 12% per annum from the rent or otherwise recover it from the lessor.

1. That  the lessor shall effect all major repair such  as leakage in electricity, sanitary fittings, water  pipes or  cracks etc. at his own cost immediately  upon  such defects  are notified to him by the lessee and  if  the lessor  fails  or  neglects to make  such  repairs  the lessee may cause the same done and deduct the  expenses of  such repairs with interest at the rate of  12%  per annum  from the rent or otherwise recover it  from  the lessor.

1. That  the  lessor gives permission to  the  lessee  for installation  of air conditioners/coolers/telephone/Geyser  in the  premises  occupied by the lessee at  the  lessee's           cost.

1. That the lessor shall arrange the whitewash, distemper paint, polish the demised premises every two years during the lease period or extended lease period at his cost.

1. That  the lessee shall peacefully and quietly hold  and enjoy  the  demised premises during  the  lease  period without  any interruption or disturbance by the  lessor or any person rightfully claiming under or in trust for him.

1. That  the  lessor represents and warrants  that  he  is fully  entitled to execute this lease deed and that  he will  hold the lessee free and harmless of any  demand, claims, actions or proceedings by others in respect  of quite possession of the demised premises.

3.  It is hereby mutually agreed as follows:

1. That  notwithstanding  anything  contained  herein before, where the executive for whose use the said premises  has been taken on lease, if  transferred out  of Gurgaon or ceases to be in the  employment of  the  lessee, the lessee shall be  entitled  to terminate this lease by serving 2 calendar month notice on the  lessor .

1. The   Lessor,   his   authorised   agents    shall acknowledge  and  give  valid  and  duly   stamped receipt  for  each and every payment made  by  the Lessee, and such receipt shall be conclusive proof of such payment.

1. On expiry of the lease, the lease shall be renewed on need basis for further period of 11 months each w.e.f. 15.04.2014 and 15.03.2015 respectively on the same terms & conditions with 8% hike in the monthly rent.  A separate lease deed shall be initiated accordingly.

IN WITNESS WHEREOF the parties hereto have executed these presents at on the day, month and year first above written in the presence of :

          WITNESSES                                                                          LESSOR

1. ..................................................                                        1. ..................................................