Lease of Debutter Property

Lease of Debutter Property

This deed of lease is made this 5th day of February 1999 between Shree ……………………, Deity, represented by …………… of ……………… ………………… the shebait (hereinafter referred to as the lessor) of the one part and Messrs. ………………………, a company registered under the Companies Act 1956 and having its registered office at ……………… ……………… (hereinafter referred to as the lessee) of the other part.

Whereas by a Deed dated …………………… Sri ……………… dedicated, inter alia, his immovable property at …………………………………… to the deity absolutely and for ever and the said …………… is the shebait and carries on the Seva Puja of the said deity and the management and administration of the said debutter property.

And whereas the income from debutter property became inadequate due to inflation to carry out the Seva Puja of the said deity and maintenance of the debutter property with the income thereof and there was urgent legal necessity for augmentation of the existing income and it was thought fit that a portion of building now used for residence of the shebait could be leased out and the rent from the said leased out portion of debutter property could sufficiently augment the income of the said deity.

And whereas the said shebait representing the said deity made an application to the Hon’ble High Court at Calcutta for permission to lease out for legal necessity 3 rooms on the ground floor used as residential quarters of the shebait but forming a part of the debutter property at the premises …………………………… and after hearing the persons interested and after consideration of income and expenditure for the Seva Puja of the deity and maintenance of the debutter property the Hon’ble High Court at ……………… was pleased to sanction by an Order dated ………………. The granting of lease for a period of  5 years at a time renewable every 5 years subject to a minimum monthly lease rent of Rs. 3,000 which should be enhanced by 20% every 5 years.

And whereas the lessee has made searches and inspected all relevant documents, court records including the certified copy of the said Order of the Hon’ble High Court at …………… passed on …………………… and has satisfied himself with the authority and power of the lessor to grant the lease of the said 3 rooms of the debutter property (hereinafter referred to as the said premises) and the validity of the present Deed of Lease and agreed to take on lease the said premises at a monthly rent of Rs. 3,000 to be enhanced by 20% every 5 years for a period of 5 years in the first instance and thereafter renewable for 5 years at a time.

And whereas the lessee agrees that the shebait does not give any warranty as to his power or authority to grant the said lease save and except that the said dedication of the property to the said deity and Order of the Hon’ble Court and that up till now there is nobody else claiming to be the shebait of the said deity or the Manager of the said debutter property.

Now these presents witnesseth and the parties hereby agree as follows:

1. In pursuance of the said Order of the Hon’ble High Court at ………… and in consideration of the rent hereby reserved and on the terms, 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 3 rooms each measuring 120 sq. ft. situated on the ground floor of the premises No. …………………………… facing East having frontage on 30 ft. wide ………………… to hold the said premises unto the lessee for a term of 5 years with option to renew for 5 years at a time on an enhanced lease rent of 20% commencing from the date of execution of these presents but subject to earlier determination as mentioned hereinafter.

2. The lessor shall pay by way of lease rent a sum of Rs. 3,000 per month payable in advance by the 10th of each month.

3. The lessee shall deposit Rs. 3,00,000 by way of security money free of interest which security money will be refunded on the lessee giving vacant possession of the said premises to the lessor.

4. The lessee shall give notice 13 months before the expiry of lease as to whether it intends to renew the lease for another 5 years.

5. The lessee shall pay all present and future municipal rates, taxes, duties and levies and other outgoings, statutory or otherwise payable to Municipality or other authorities in respect of said leased out premises.

6. The lessee shall keep the leased-out premises in good and tenantable repairs but shall not carry out any additions or alterations or structural changes without the written consent of the lessor.

7. Within one month of the lessee getting possession of the said premises, the lessee shall start the repairs or renovation of the said leased-out premises and paint the outside of the entire building used by the said shebait including the leased-out premises.

8.  The lessee shall not use the said premises for any unlawful purpose or bring into the premises any inflammable or hazardous article, thing or goods or store them there.

9. The lessee shall use the said premises only for the purposes of carrying on its business and in doing so undertakes not to create any nuisance or undue annoyance to the neighbours.

10. The lessee shall not sub-lease or grant any leave or licence to any person, firm or company or create any charge or mortgage over the said premises without the prior written consent of the lessor.

11. The lessee shall make arrangements for separate Meters for water, electricity and gas as it may require at its own cost and the lessor would give the consent for such installation of Meters or connection for electricity or gas.

12. If the lessee makes any default in payment of lease rent for two months or commits any breach of any of the terms or conditions contained herein the lessor shall have the liberty to terminate the lease and to re-enter the said premises.

13. The lessee agrees and on enquiry has been satisfied that all necessary sanctions and permissions have been obtained, all formalities have been observed for the purposes of granting the lease and that the lessor shall have no liability or responsibility as to the validity or otherwise if questioned of the present demise.

14. The lessee agrees and undertakes to bear and pay the requisite stamp duty and registration charges and other legal and miscellaneous expenses in respect of present Deed of Lease.

In witness whereof the parties have executed these presents on the day, month and year first above-written.

Signed and delivered by Sri ……… ………, shebait representing Sree Sree Radha Gobinda pursuant to Order dated …………… of the Hon’ble High Court at ……………in presence of:

1. ………………………                                             For Sree Sree Radha Gobinda

2. ………………………                                                               Shebait

Signed, sealed and delivered by Mr. ……………………… pursuant to Board Resolution dated ………… of Messrs. Business Ltd.

in presence of:

1.  ………………………                                                           For Business Ltd.

2.  ………………………                                                                 Director

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