Deed of Lease of Space for Advertisement
| Updated at | June 2010 |
This DEED OF LEASE is made at... this... day of... between Mr. X residing at... hereinafter called 'the Lessor' of the One Part and M/s. MN & Co. Pvt. Ltd., a Company registered under the Companies Act, 1956, having its registered office at... hereinafter called 'the Lessee' of the Other Part.
WHEREAS -
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The Lessor is the owner of a plot of land with a building thereon situate at... and more particularly described in the Schedule hereunder written.
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The Lessee has approached the Lessor with a request to allow the Lessee to put up a hoarding or poster at the eastern corner of the said plot fronting the public road and to grant a lease of a part of the said plot admeasuring about... sq. ft. to enable the Lessee to put up one more or less permanent foundation, for putting up the hoarding or poster and which the Lessee has agreed to do on the following terms and conditions.
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NOW THIS DEED WITNESSETH that pursuant to the said agreement and in consideration of the rent hereby reserved and of the covenants, terms and conditions hereinafter mentioned, the Lessor doth hereby demise a space or part of the plot of land described in the Schedule hereunder written and which space or part admeasures about... sq. ft. as shown on the plan of the said plot hereto annexed and thereon delineated by a red boundary line (hereinafter referred to as 'the demised premises) unto the Lessee, its successors and assigns, for a term of 10 years, commencing from the date hereof but subject to the earlier determination of this demise as hereinafter provided and yielding and paying therefor during the said term the monthly ground rent of Rs... free and clear of all deductions and strictly in advance on or before the 5th day of each and every calender month, the first of such monthly ground rent shall be paid on the 5th day of the next month (the rent from the date hereof upto the end of the current month having been paid on the execution of these presents and receipt whereof the Lessor doth hereby admit) and the subsequent rent to be paid on or before the 5th day of each and every succeeding month thereafter regularly during the subsistance of this lease.
AND the Lessee hereby covenants with the Lessor as follows:--
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To pay the rent reserved hereby on the days hereinbefore mentioned regularly and punctually.
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To pay all other charges by way of taxes or duties or otherwise in respect of the advertisement to be put up on the said demised premises and payable to the...
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