This Deed of Lease (“ Lease deed ”) is made at New Delhi on the 25th day of May, 2022 (“Execution Date”):
BY AND BETWEEN
Shri Vikram Singh son of Shri Angad Singh, (hereinafter referred to as the “LESSOR” which expression shall, unless repugnant to the context or meaning thereof be deemed mean and include his heirs, executors, administrators, representatives, successors and assigns) of the One Part;
Shri Hardik Pathak son of Shri Hari Narayan Pathak, (hereinafter referred to as the “LESSEE” which expression shall, unless repugnant to the context or meaning thereof be deemed mean and include his heirs, executors, administrators, re presentatives, successors and assigns) of the Other Part.
(The Lessor and the Lessee are hereinafter collectively referred to as the “Parties” and individually as a “Party”)
- The Lessor is the owner and in possession of Singh buildings situated at N-10, Pitampura, Delhi, 110034;
- The Lessor had invited bids/ proposals from eligible bidders for selection of a lessee for a property on the 1st floor in the building measuring 2700 sq. that included 2 washrooms and 10 parking space for cars in the parking area;
- The Lessee (Hardik Pathak) submitted a proposal to the Lessor of opening a gym at the property for commercial purposes. Of all the proposals submitted by eligible bidders, the mentioned Lessee has been selected as the successful bidder;
- The Lessee shall be provided physical possession of the Plot within 30 (thirty) days of the Execution Date along with the execution and delivery of the Possession Letter by the Parties;
NOW, THEREFORE, IN CONSIDERATION OF THE FOREGOING AND THE COVENANTS AND AGREEMENTS SET FORTH IN THIS LEASE DEED, THE RECEIPT AND SUFFICIENCY OF WHICH IS HEREBY ACKNOWLEDGED, AND INTENDING TO BE LEGALLY BOUND HEREBY, THE PARTIES AGREE AS FOLLOWS:
- DEMISE AND TERM
- This lease shall be in force for a period of 5 (Five) years. The Lessee shall handover to the Lessor, vacant and peaceful possession of the property within 45 (Forty-Five) days of expiry or termination
- Notwithstanding anything to the contrary herein before contained, the Lessee shall be entitled and shall have the option to terminate this Lease at any time on giving 2 calendar months’ prior notice in writing to the Lessor (s) and on expiration of the period to be mentioned in such notice this lease shall cease to be operative.
- On expiry of the initial Term of Lease, Lessee if lessee wishes to, can extend the term of the Lease by every subsequent month by without having to enter into a fresh Lease Deed solely by continuing to holdover property for 30 (thirty) days and paying rent in the same manner as would be paid if the Lease had not ended. Provided further that no objection to this is raised on the holding over of the possession of the property withing 15 (fifteen) days of the expiry of the initial Term or as the case may be in the event of the formation of fresh Lease Deed.
- GOVERNING LAW
- The Lease Deed will be governed by and interpreted in accordance with the Delhi Rent Act, 1995.
- RENT AND PAYMENTS
- The rent for the Demised Property for the lease amounting to 400000 (Four lakh Rupees Only) shall be payable at the start of every month by the lessee to the lessor. Provided a delay of a one week shall be reasonable extension within which the rent can be paid. Provided further, in case of extraordinary circumstances, the Lessor shall provide Lessee with reasonable period to pay the due rent which will be finally decided by the Lessor upon negotiations with the lessee.
- The security deposit on the Demised Property stands Rs. 800000 (Eight Lakh Rupees Only) and has been paid by the lessee to the lessor. The entirety of the security deposit shall be refunded at the expiry of the term of the Lease Deed. In case, the Lease Deed is terminated before the expiry of the initial term, due to the damage caused to the property, amount equivalent to the damage shall be deducted from the security deposit and the remainder shall be returned to the Lessee.
- The Lessor (s), during the lease or extension thereof shall pay all present and future municipal taxes assessments and / or other outgoing or impositions whatsoever payable by the owner and / or occupier in respect of the demised premises under the law for the time being in force and shall keep the lessee/s indemnified against all claims, demands, action, suits and proceedings in respect of the same.
- The Lessee shall be liable to pay all charges for electricity and water consumed by the Lessee during the lease period and calculated as per the readings recorded by the respective meters installed in the demised premises.
- In case of default in the payment of the taxes and other statutory dues, service charges by the lessor (s) and a demand notice is served on the lessee then he may make payment of the same and such payment shall be against adjustment of future rents payable.
- WARRANTIES OF LESSEE AND LESSOR
- The Lessor warrants that he has good, rightful power, total authority, and title to demise the demised premises to the Lessee in the manner hereby stated, free of all encumbrances, trusts, his dependents, executions, and attachments.
- Lessee shall have the exclusive right to open a gym space in the building and Lessor shall not rent out any other space in the building to a gym.
- During the period of lease and thereafter the Lessee at its expense will keep the property premises and other structures clean, free from defect and in good condition.
- On the Lessee paying monthly rent hereby reserved and covenants and conditions herein contained and on the part of the Lessee to be observed the Lessee shall quietly hold, possess and enjoy the demised premises and every part thereof during the period of lease or any extension thereof without any interruption from or by the Lessor (s) or any person or persons lawfully or equitably claiming by / through / under or in trust for the Lessor/s or successors or assigns.
- The Lessor shall, at his own cost, carry out all repairs including periodical painting of the demised property. The periodicity of such painting will be once in 2 years. If the Lessor fails to carry out such repairs including periodical whitewashing and painting, the Lessee shall be at liberty to get it done and adjust the amount spent or expended or such repairs, etc., towards the rent payable to the Lessor or the Lessee shall have the right to recover the same from the Lessor.
- The Lessee shall observe, perform and abide by or otherwise comply with Applicable Laws in so far as the same are applicable to the Lessee,
- The Lessee shall not, at any time during the tenancy of the lease, cause or permit any nuisance in or upon the said property and in particular shall not use or permit the to be used for any purpose, which may disturb or create problems for others in the building like very loud music, omission of odour, liquid, dust, smoke, gas, noise vibrations or fire hazards or which may cause permanent damage to the land. Lessor shall have full right to always prohibit or regulate these matters or even terminate the lease.
- The Lessee shall utilize the demised premise only for the purpose of running a gym and shall ensure that the Premises has the required provisions for fire/ smoke detection, fire safety and all other firefighting arrangements as may be prescribed under Applicable Law.
- The Lessor (s) shall not allow anyone in the building carry on any hazardous occupation or business in or upon any part of the said premises or any adjoining premises thereon which may cause loss or annoyance or inconvenience to the lessee at the demised premises.
- The Lessor may at any time, in its sole discretion, seek any clarifications and/or any additional information in writing from the Lessee, which may be required by the Lessor to verify all statements, information and documents submitted by the Lessee. But the Lessee shall submit to the Lessor, within a period of 7 (seven) days from the date a request is made by the Lessor, all such information and documents as is reasonably requested by the Lessor.
- The Lessee shall send to the Lessor by letter or email, a report stating accidents and unusual occurrences if any at the property Premises like death or injury to any person or damaged or dislodged fixed equipment or smoke or fire, such other relevant information as may be required by the Lessor, from time to time.
- The lessor cannot enter upon the demised premise any time he wants, except in the case of an emergency. The lessor must give a prior notice of 48 (forty-eight) hours, and at the cost of the Lessee, to enter upon and inspect the premise.
- The Lessee shall not make or permit any alterations or additions to the approved that would cause any harm to the walls and fittings in the Premises without obtaining the previous consent, in writing, of the Lessor.
- STAMP DUTY AND REGISTRATION CHARGES
- This Lease Deed shall be lodged for registration by the Parties and the Parties shall admit execution thereof. All stamp duty and registration charges and related fees, costs, charges and expenses in respect of this Lease Deed and/or any other document pertaining to the lease granted hereunder or any other charges by whatever name called, shall be borne and paid by the Lessee, alone.
- HOURS OF BUSINESS
- The lessee shall run the business only between 6:00 AM and 11:00 PM.
- USE OF THE DEMISED PROPERTY
- The Lessee shall have exclusive right on the parking space for parking of the vehicles of staff members and customers of Lessee and the same shall not be disturbed obstructed or encroached in any manner by any persons whomsoever.
- The lessee or its customers cannot use other parking spaces of the building which aren’t included in the lease agreement.
- The Lessee shall have the absolute & exclusive right to use the entire property for smooth functioning of the gym, both outside and inside for making full use of frontages and the side walls in displaying Lessee’s signboards / advertisements. If anybody causes any intrusion, trespass or encroachment restricting the functioning of the gym, the Lessee shall be at liberty to take legal action against the violators.
- The Lessee will take possession of the property in “as is where is” condition and no further demand for any development, such as earth filling, raising the level, etc., shall be entertained.
- The Lessee shall been titled at any time during the said terms; to install, erect, fix and set up such required gym equipment in the demised premises and every part thereof as the Lessee may require without causing any material damage to the demised premises and on the expiration or sooner determination of this lease to remove the same and every part thereof at its own costs without thereby causing any material damage to the demised premises.
- Notwithstanding anything contained hereinabove the lessee shall be entitled to surrender, leave and deliver the unused, un-utilized portion/area of the leased premises property to the Lessor in case the Lessee feels that the unused, un-utilized and excess area is not required for the purpose taken on lease during the tenure of the lease without determining / terminating the said lease and continue in occupation the portion required for the purpose after surrendering of the unused and unutilized area / portion and in the event of such partial surrender of the un-utilized area / portion, then rent fixed for the lease will be reduced / decreased proportionately according to the area / portion surrendered by the Lessee.
- The Lessee confirms that all risks, losses, taxes, liabilities and payments arising in connection with the gym therein for the period shall forever remain the absolute liability and responsibility of the Lessee alone and the Lessor shall assume no liability, responsibility or obligation, monetary or otherwise, in relation to the period during which the Lessee was in occupation of the Premises.
- DEFAULT AND TERMINATION
- If the lessee shall at any time fail and neglect to perform and observe any of the agreed covenants and conditions herein contained, then the lessor shall be entitled at its option to forthwith determine this Lease.
- Misrepresentation by the Lessee, either under this Lease Deed or under any other documents submitted by the Lessee to the Lessor, is made or discovered or if it comes to the notice of the Lessor that the Lessee has given an incorrect/ inaccurate/ misleading information or has made any misrepresentation or suppressed any material information/ facts then this shall be deemed to be a “Lessee Event of Default”. In such case, lessor may give a notice in writing to the Lessee for remedying the breach and if the Lessee fails to do so within a period of 15 (fifteen) days from the date of such notice, the Lessor may terminate this Lease Deed without giving any further notice.;
- As and when the property is no longer required by the Lessee for the purpose as set out herein, the Lessee may, subject to approval from the Lessor, forthwith relinquish and restore the Premises in favor of the Lessor, provided such surrender of the Premises by the Lessee is made before cancellation of the allotment or termination of this Lease Deed by the Lessor for breach of any of the covenants of this Lease Deed.
- In case of cancellation due to a breach of any of the covenants of this Lease Deed then no refund of the allotment cost shall be made to the Lessee
- Any controversy or claim arising out of or relating to this lease deed, or any breach or alleged breach thereof, shall be finally settled by arbitration in accordance with the provisions of the Arbitration and Conciliation Act, 1996. The lessee shall be entitled to appoint one arbitrator and lessor shall be entitled to appoint one arbitrator and that those two arbitrators shall nominate a third arbitrator. The arbitration proceedings shall be held in Delhi.
- FORCE MAJEURE-
- Upon occurrence of a Force Majeure Event like COVID-19 pandemic, Act of God, extremely adverse weather conditions, lightning, earthquake, landslide, cyclone, flood, volcanic eruption, chemical or radioactive contamination or ionizing radiation, fire or explosion or any event or circumstances of a nature analogous to any of the foregoing the lessee shall by notice report such occurrence to the other Party forthwith.
- The lessee shall not be entitled to any relief for or in respect of a Force Majeure Event unless it shall have notified the lessor of the occurrence of the Force Majeure Event as soon as reasonably practicable, and in any event no later than 2 (two) days after the lessee knew, or ought reasonably to have known, of its occurrence, and shall have given particulars of the probable material effect that the Force Majeure Event is likely to have on the performance of its obligations under this Lease Deed.
- NOTICES AND COMMUNICATIONS-
- All notices can be sent by hand, by post or courier at the respective address given below:
N-10, Singh Buildings, Pitampura, Delhi, 110034.
A-05, Pasha Court Apartments, Dwarka, Delhi, 110037
(Description of the “Said Premises”)
Property measures 2700 sq.ft and is in 1st floor of Singh Buildings situated at A-05, Pasha Court Apartments, Dwarka, Delhi, 110037 and is worth INR 20000000. The property includes 2 washrooms, 4 fans, 1 water purifier, 2 Air conditioners, 15 light bulbs, 2 storage area.
IN WITNESS WHEREOF THE PARTIES HERETO HAVE SET THEIR HANDS AND SEAL ON THE DATE ABOVE STATED
WITNESSESS LESSOR / S
(1). Deepak Rathore
(2). Sidharth Raju LESSEE