LEASE AGREEMENT FOR LAND

THIS LEASE AGREEMENT is made on the 21 day of September 2023 A.D at Dharan Sub
Metropolitan City, Ward No: 08, Sunsari, Nepal.
BETWEEN
Mr. Dinesh Prasad Pokhrel, aged 52 years old, bearing Nepali citizenship No; 644 (Issued in
Sunsari District) and permanent resident of Ganesh Tole, Madhyapur Thimi, Ward No; 03,
Bhaktapur, Nepal hereinafter referred to as LESSOR / FIRST PARTY (which expression
shall unless the context does not so admit includes its successors and assigns) of the ONE PART.
AND
Mr. Netraraj Nepal, aged 36 years old, bearing Nepali Citizenship No: 5180 (issued in Bhojpur
District) and permanent resident of Kot, Bhojpur, Ward No: 04, Nepal (hereinafter referred to as
the LESSEE / SECOND PARTY which expression shall unless the context does not so admit
include his heirs, its executors, administrators, legal representatives and permitted assigns
successors and permitted assigns) of the OTHER PART.

WHEREAS Mr. Dinesh Prasad Pokharel handed over the land at Sunsari Metropolitan
City, Ward No: 08, Sunsari, Plot No; 214 and 317 Measuring 2264.57 Sq. m and 1587.31 Sq. m
{4-7-0-3.58 and 3-1-3-2.77 (Area R-A-P-D)} hereinafter referred as Lessor / First Party to Mr.
Netraraj Nepal hereinafter referred as LESSEE / SECOND PARTY for grant on lease a plot of
land for starting an industry under the name and for his/her occupation /residential purpose
AND
WHEREAS this agreement made by the LESSOR / FIRST PARTY and LESSEE / SECOND
PARTY, agreed to grant him on lease for occupation of a plot of land as described in the schedule
hereunder and under the terms and conditions hereinafter set forth.

(I) In pursuant to the Law / Rules and Regulation applicable for entering into the Lease
agreement / allotment of land etc. for the Lessor / First Party, this instant Lease
agreement has been entered into and as such, the above-mentioned Law / Rules and
Regulation will strictly adhere to the both parties of this Lease agreement in all terms.
Further, this Lease agreement would be treated as the substitute agreement for the lease
agreement, if so, entered into earlier between the both parties of this Deed. After
execution of this instant agreement, the all-earlier agreement, if so, executed between the
parties, would be considered as invalid and non-operational in law for all purposes.

(II) In consideration of the covenant and agreements herein contained and on payment by
Lessee / Second Party number of NRs 6,93,360.00 (In Words: Six Lakh Ninety
Thousand Three Hundred and Sixty Rupees only) towards the Annual Rent calculated @
Rs. 180 per sq.m. (Total 3852 Sq. m) o r part thereof per annum, the receipt whereof the
Lessor / First Party hereby acknowledges, the Lessor / First Party doth hereby demise
to the Lessee / Second Party the plot of land described in the schedule below.

(a) Description of the Land:

The Landowner hereby leases to the Lessee, and the Lessee hereby leases from the
Landowner, a tract of land situated at Sunsari Metropolitan City, Ward No: 08,
Sunsari Plot No; 214 and 317 Measuring 2264.57 Sq. m and 1587.31 Sq. m {4-7-0-
3.58 and 3-1-3-2.77 (Area R-A-P-D)}, more particularly described in Exhibit A attached
hereto and incorporated herein by reference.

(b) Lease Term:

The term of this Agreement shall commence on 21 September 2023 and shall continue
for a period of 5 years, unless terminated earlier as provided herein.
(c) Purpose of Lease:
The Lessee shall use the land solely for agricultural/Occupational and Resident purposes
and shall not use it for any other purpose without the prior written consent of the
Landowner.

(d) Yielding and paying thereof unto the Lessor / First Party by 25th day of September in
each year in advance the yearly rent. The Lessor / First Party reserves the right to revise
the rate of Ground Rent in every 2 (two) years. The quantum of rent determined by the
Lessor / First Party shall be final, conclusive and binding on the Lessee / Second Party
and it shall not be questioned in any court of law or otherwise.

(e) The period of lease is renewable on expiry of 5 years on satisfaction / payment of Annual
Ground Rent, Lease Premium and any other charges as applicable at the time of renewal.

(f) Under no circumstances, the right of ownership of the land will be transferred to any
party.

(g) The leased-out land should be used only for occupational and resident purpose.

NOW THE LESSEEE / SECOND PARTY DOTH HEREBY COVENANT WITH THE
LESSOR / FIRST PARTY AS UNDER:

a) That the Lessee / Second party will bear, pay and discharge all rates, taxes, charges and
assessment of every description which may, during the said term, be assessed, charged or
imposed in respect of demised premises or the building to be erected thereupon which
would be decided by the Lessor / First Party from time to time.
b) The Lessor / First Party shall reserve the right to enhance the rate of Development
Charges, if the compensation payable under an award is enhanced by any Competent
Court subsequently or there is escalation in the cost of development of the area
otherwise.
c) “The Lessor / First party reserve the right to revise the rate of Service charges and
Special Maintenance Charges from time to time and the decision of the Lessor / First
party shall be final, conclusive and binding on the Lessee / Second party and it shall not
be questioned in any court of law or otherwise.”
d) That the Lessee / Second party will obey to exist so far as the same relate to the
immovable property in the area or so far as they affect the health, safety, convenience of
the other inhabitants of the place.
e) That the Lessee / Second Party will not erect or permit to be erected on any part of the
demised premise any stables, sheds or other structures of any descriptions whatsoever
for keeping horse, cattle’s, dogs, poultry or other animals except and in so far as may be
allowed by the Lessor / First Party in writing.
f) That the Lessee / Second party will neither exercise his option of determining the lease
nor hold the Lessor / First Party responsible to make good the damage if by fire, tempest,
flood or violence of any army or a mob or other irresistible force, any material part of the
demised premises if wholly or partly destroyed or rendered substantially or permanently
unfit for building purpose.
g) That the Lessee / Second party will keep the demised premises and the building thereon
at all times in a state of good and substantial repairs and in sanitary condition.
h) That Lessee / Second Party will permit the members, officers and subordinates of the
Lessor / First Party and workmen and other persons employed by them from time to time
and at all reasonable times of the day during the said term to enter into and upon the
demised premises and the buildings to be erected thereupon in order to inspect the same.
i) That the Lessee / Second Party will not make any excavation upon any part of the
 demised premises (except for foundation of building and for leveling and dressing the
area) nor remove any stone, sand, gravel, clay, earth or any other materials there from.

IN WITNESS WHEREOF THE parties hereto have hereunto set and subscribed their
respective hands this day and year first hereinabove written.

Signature of and on behalf of Lessor/First Party Signature of and on behalf of Lessee/Second Party

……………… ………………………
Lessor, Lessee,
Mr. Dinesh Prasad Pokhrel Mr. Netraraj Nepal
Left Thumb Right Thumb Left Thumb Right Thumb

IN WITNESS HEREOF THE parties hereto have set their hands this day of the month of 21
September 2023

Signature of witness no. (1):

…………………………………..
Name (In capital letters): RADHA DEVI LUITEL
Address: ITAHARI, BOUKA, WARD NO: 03, NEPAL

Signature of witness no. (2):

………………………….
Name (In capital letters): ARJUN POKHREL
Address: ITAHARI SUB-METROPOLITAN CITY, SUNSARI, NEPAL