Agreement to Lease of
a Long Period
Agreement To Lease is
made at ........ this ........ day of ... .... between Mr. A of .......
hereinafter referred to as 'the Lessor' of the One Part and Mr. B ........ of
....... hereinafter referred to as the 'Lessee' of the Other Part.
Whereas the Lessor is
absolutely seized and possessed of or otherwise well and sufficiently entitled
to the piece of land situated at ..... and more particularly described in the
Schedule hereunder written.
And Whereas the
Lessee has approached the Lessor with a request to grant a long lease of the
said land with a view to construct a building or other structure thereon either
for letting out the same or any part thereof or for carrying on business
therein and which the Lessor has agreed to do on the following terms and
conditions agreed to between the parties.
Now it is Agreed by and
Between The Parties Hereto as Follows:
1.
The
Lessor agrees to demise to the Lessee and the Lessee agrees to take on lease
the said piece of land situated at ..... and more particularly described in the
Schedule hereunder written for a period of 99 years commencing from the date of
the deed of lease to be executed as hereinafter mentioned at the yearly rent of
Rs . ..... to be paid in advance from the commencement of the lease without any
deductions.
2.
The
rent shall be exclusive of the taxes, assessments, dues and duties payable in
respect of the said land and the building or buildings to be constructed
thereon, to the Government or the Municipal Corporation or any other local
authority or public body and which taxes etc. will be payable by the Lessee as
and when they become due and payable.
3.
The
Lessor shall make out a marketable title to the said piece of land free from
all encumbrances and claims or reasonable doubts.
4.
The
Lessor shall produce or cause to be produced to the Lessee or his Advocate all
documents of title in his possession or power for investigation of the title to
the said land.
5.
The
Lessee or his Advocate shall send requisitions on title, if any to the Lessor
or his Advocate within four weeks from the date of production of the title
deeds for inspection as aforesaid failing which the Lessee shall be deemed to
have accepted the title of the Lessor.
6.
On
the Lessor making out a marketable title as aforesaid or the Lessee accepting
the title, but not otherwise, the Lessor shall grant a lease of the said piece
of land by executing a Deed of lease in duplicate for the said period and at
the said rent.
7.
The
Deed of Lease will contain usual covenants to be given by the Lessee and Lessor
and other usual terms and conditions provided that there will be no restriction
on the Lessee's right to assign the lease and the Deed of Lease will also
contain a condition that on the determination of the Lease by efflux of time or
otherwise, the Lessee will surrender the land to the lessor alongwith the
building or buildings standing thereon without any compensation. The draft of
the Deed of Lease will be prepared by the Lessee's Advocate and approved by the
Lessor's advocate.
8.
The
transaction will be completed within a period of three months from the date
hereof.
9.
The
Lessor shall give complete vacant possession of the land to the Lessee on the
date of completion and until then he will not allow anybody to commit
encroachment or trespass thereon.
10.
All
the taxes and other outgoing In respect of the said land upto the date of
completion of the lease will be paid by the Lessor.
11.
The
costs by way of stamp duty and registration charges in respect of the Deed of
Lease will be borne and paid by the parties hereto in equal shares. Each party
will bear and pay all other costs incurred by him Including his Advocate's
fees.
12.
The
Lessor declares that the said land is not subject to any reservation or any
Intended acquisition or requisition and there are no building restrictions on
the land.
13.
The
Lessee will be at liberty to construct a building or buildings thereon with all
requisite and proper sewers, drains and other conveniences and the building or buildings
will be constructed as per plans that will be sanctioned by the municipal
corporation and/or other local authority or public body as may be required and
he will conform to all rules and regulations in that behalf.
14.
Nothing
in this agreement shall be construed as a present demise of the said land or
any part thereof.
15.
If
any permission or No Objection Certificate Is required to be obtained from any
authority for granting a lease of the said land as aforesaid the Lessor shall
obtain the same at his own costs as a condition precedent to the execution of
the Deed of Lease.
16.
If
the Lessor fails to complete the transaction as herein provided, the Lessee
will have the option either to cancel this agreement by fifteen days' prior
notice to the Lessor to that effect or to sue for specific performance and or
damages. If the Lessee fails to complete the transaction, on the Lessor making
out a marketable title, the Lessor will have the option to cancel this
agreement by fifteen days' prior notice to the Lessee to that effect or to sue
for specific performance and/or damages.
IN WITNESS WHEREOF
the parties have put their respective hands the day and year first hereinabove
written.
THE SCHEDULE ABOVE
REFERRED TO
Signed and Delivered
by the withinnamed Lessor ........ in the presence of
Signed and Delivered
by the withinnamed Lessee ........ in the presence of
