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LEASE AGREEMENT OR RENTAL AGREEMENT FORMAT

LEASE AGREEMENT OR RENTAL AGREEMENT FORMAT

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Published by yuvashreesharmi

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Published by: yuvashreesharmi on Jun 01, 2012
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03/31/2014

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LEASE AGREEMENT
THIS INDENTURE OF LEASE AGREEMENT made this 9
th
day of February, 2012 betweenMrs. R. KRISHNAKUMARI, aged 68 years , residing at # AD 25, 5
th
Street, 10
th
Main road, Anna Nagar, Chennai – 600 040, herein after called the LESSOR of the One Part andMr. P. JAYARAMAN, S/O. R. PONNAMBALATHANDI hereinafter called the LESSEEwhich expression shall include the successors, assigns, associates and subsidiaries, of the Other Par: Whereas the Lessor is the owner of the residence # AD 25, 5th Street, 10th Main road, Anna Nagar, Chennai -600040, and the lessor hereby agrees to let out on Lease the Ist floor of # AD 25,5th Street, 10th Main road, Anna Nagar, Chennai -600040, to the Lessee for residential purposeonly on the following terms and conditions.
 
1. The Lease of the said residence and the fixtures etc., shall be for a initial period of 11 monthscommencing from 9
th
February, 2012.2. The Lessee agrees to pay the Lessor a sum of Rs. 11,000/- (Rupees Eleven Thousand Only)towards rent and amenities per month.3. The Lessee agrees to pay the Electricity charges as per the Meter provided every month. If theLessee fails in arrears of the Tamil Nadu Electricity Board the lessor will be entitled to pay thesame directly and reimburse the same from the Lessee.4. The Lessee agrees to pay the rent and the amenity charges regularly on or before 7
th
of everysucceeding month. In the event of default for any 2 months, the Lessor shall be entitled toterminate the lease and the re-enter the leased residence.5. The Municipal property tax, Corporation tax and any other taxes on the property and the landshall be paid by the lessor.6. That the parties agree after the expiry of the initial lease period of 11 months time Lessor shallhave the option to renew the lease for a further period of 11 months within increase of 10% over and above the previous rent paid and amenities charges.7. The lessee has agreed to pay the Lessor a sum of Rs. 60,000/- (Rupees Sixty Thousand Only) being the security deposit for faithful performance of the leased conditions. The deposit will bereturned without interest on the date of delivery of possession of the premises hereby demised after adjusting any amount that may be payable by the Lessee.8. The lessee shall use the said house for residential purpose failing which the Lease shall beterminated. This lease shall be terminated on either side by giving two months prior notice inwriting to the other and on the expiry of 2
nd
month the agreement will stand terminated.9. The Lessee shall permit the Lessor and his agents to enter and inspect the residence with theLessee’s consent at all responsible times without any let or hindrance.

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