RENTAL AGREEMENT
THIS RENTAL AGREEMENT is entered into at Mettupalaym, Pondicherry on this 05th day
of January 2023 by and
BETWEEN
K SENTHIL KUMAR S/O R KATHIKEYAN ,N0.1 PIPDIC ESTATE ROAD , METTUPALAYAM ,
PONDICHERRY 60509
(hereinafter called the FIRST PARTY - OWNER)
AND
M/s. SAI RAM HOT CHIPS represented by its Partners (1) Mr. P. mathivannan SURI,
son of Mr. Periyasamy ; (2) Mr. Ranjith all residing at
---------------------------------------------------(hereinafter called the SECOND
PARTY - TENANTS) the terms First Party and Second party shall wherever they occur
herein mean and include their respective heirs, legal representatives, executors,
administrators and assigns;
WHEREAS the First Party is the owner of APR Comeriacal complex Vazhudhavur
road ,Mettupalaym, Pondicherry 605009 and morefully described in the schedule
hereunder hereinafter referred as "Schedule Property".
Whereas the Second Party approached the First Party and requested the First
Party to let out shop-1 IN schedule premises with for the purpose of running a
""SAI RAM HOT CHIPS" and the First Party agreed the for the same upon the following
terms and conditions and the parties have decided to strictly adhere to such
conditions as mentioned hereunder.
NOW THIS AGREEMENT WITNESETH:
The First Party has given on rental and the Second party has taken the
schedule premises on a monthly rent and hire charges for amenities provided at
Rs.17,000/-(Rupees Seventeen Thousand Only).
The Second Party has paid a sum of Rs.1,50,000/- (Rupees one Lakhs Fifty
Thousand Only) towards rental advance to the First Party and the said sum shall not
carry any interest and is refundable by the First Party to the Second Party only at
the time which the Second Party vacate and deliver the vacant possession of the
schedule property in a good condition as it is now subject to reasonable wear and
tear.
The Rental shall effect from 05/01/2023 to 04/12/2023 for a period of 11
months Second Party shall use the property rented only for the purposes which has
been let-out.
The Second Party should get all required permission and license to carryon
business from the statutory and bodies for which the First Party will give
necessary required cooperation.
The rent for every month shall be paid by the Second Party to the First Party
on or before 5th of succeeding month. If the rent is not paid for the two
consecutive months, the rental agreement will be terminated and the Second Party
shall vacate and hand over the vacant possession of the premises to First Party.
The Second Party shall pay the electricity charges directly to the E.B.
according to usage. The Second Party has also agreed to borne by the over load
penalty, MD penalty, additional shop work, Power Factor penalty, additional deposit
(non refundable) payable to the EB if levied. All the fees, charges towards
Electricity Connection will be borne by the Second Party.
The Second party shall not sublet any portion of the demised premises or
assign their tenancy hold interest to other person.
The Second Party shall not make any additions to or alterations in the
demised premises without the written permission of the First Party.
The Second Party shall permit the First Party and/or her agents with or
without workmen at all reasonable times during any time to inspect and to carry out
any necessary repairs thereto.
The Second Party shall keep in condition and fixtures and fittings given to
him on rental by the First Party with wear and tear being expected, and in the
event of any damage or breakage to any of them, the Second Party shall be at their
cost repair or replace them with the same quality and quantity.
It is hereby mutually agreed that in the event of the Second Party desiring
to renew the tenancy they should give notice of their intention to do so in writing
two months before the expiry of the period of tenancy provided however such renewal
shall be on such terms and condition as to payment of enhanced reasonable rent and
other covenants as may be mutually agreed between the First Party and the Second
Party not less than 5%.
In the event of the First Party being not agreeable to renew the tenancy and
Second Party shall surrender the vacant possession of the demised premises along
with the fittings and fixtures to the First Party on the date of expiry of the
current tenancy.
Upon termination of this agreement in any of the modes stated above the
First Party shall return the interest free security deposit stated above after
deducting the damages to the building and any dues payable by the Second Party in
respect of the Tenancy.
The Second party shall use the demised premises exclusively for Warehouse
purpose only. They shall not use the premises for any unlawful purpose.
The First party alone shall be liable to pay the Municipal Taxes, Urban Land
Tax and other taxes due on the Schedule property.
Any violation to the above condition by the Second Party, the rental
Agreement will stands cancelled automatically without any notice.
SCHEDULE OF PROPERTY
shop-1 APR Comeriacal complex Vazhudhavur road ,Mettupalaym, Pondicherry 605009
IN WITNESS WHEREOF THE First Party and Second Party have set their respective hand
and seals on the day, month, and year as first above mentioned.
First Party Second Party
WITNESSES
1)
2)