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This RENTAL AGREEMENT is made and executed on this 01st day of March,
2024 by and between:
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D.LAKSHMIDEVI AND D.RAMA MURTHY (HUF), Represented by D.RAMA
MURTHY, Residing at No 105, Chennamanakere, Banashankari 2nd Stage,
Bangalore 560070 Hereinafter called the "OWNER" of the ONE PART.
AND
The terms and used herein shall mean and include their respective heirs,
executors, assigns etc., Wherever the context so demands or occurs.
Whereas the "OWNER" is the sole and absolute owner of the property
situated at No 105, Chennamanakere, Banashankari 2nd Stage, Bangalore
560070. which is more fully described in the schedule here under and the
Tenant desire to take on Rent the said premises for Commercial purposes
has approached and requested the owner to let-out the said premises on a
monthly rental basis under the following terms and conditions.
RENT: The Tenant shall pay a rent of Rs. 10000/- (Rupees Ten Thousand
only) to the Owner on or before 7th day of every English calendar month.
DEPOSIT: The Tenant has deposited a sum of Rs. 100000/- (Rupees One
Lakh Only) with the Owner and hereby acknowledges receipts of the same
and the said security deposit amount shall not carry any interest and shall
be repayable by the Owner to the Tenant at the time of vacation of the
premises after deducting the dues if any caused by tenant such as rental
arrears, building damages, loss of fittings etc., if any.
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DURATION: That the tenancy period shall be for 11 Months with effective
from 1st March, 2024 to 31st January, 2025 after 11 months this agreement
shall be extendable on mutual understanding by both the parties with the
enhancement of 10% on rent.
SUBLETTING: The Tenant shall use the schedule premises for the purposes
to which it is given and shall neither use for any other purpose nor sublet or
under lease or sublease the premises to a third party without the written
consent of the owner.
USAGE OF THE PREMISES: The tenant shall keep the premises clean and
tidy and on Tenantable conditions and shall not store any explosive or
dangerous materials in the premises.
In case Tenant fails to pay the monthly rent consecutively for Three Months
the owner shall empowered to evict the tenant from the scheduled premises
for the same without giving any notice or other formalities thereupon.
LIABLE FOR DAMAGES: The tenant shall not cause any damages on the
above said property. The tenant should deliver back the premises in good
condition as it is let out. Any damages caused shall be repaired at the cost of
the tenant at the time of vacating the premises.
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SCHEDULED PROPERTY
IN WITNESS WHEREOF the Owner and the Tenant have signed this
Agreement, on the day, month and year first herein above written.
WITNESSES:
1.
(D.LAKSHMIDEVI AND D.RAMA MURTHY (HUF)),
Represented by D.RAMA MURTHY
OWNER
2.
(SRI VENKATA RAMANA ENGINEERS AND
INFRASTRUCTURES PRIVATE LIMITED),
Represented by D SHIVAPRAKASH REDDY,
Director (07669747)
TENANT
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