Sub-Lease
THIS INDENTURE made at _________ this ________ day of _________ 200____ BETWEEN ABC of _________, Indian Inhabitant, hereinafter called “The Sub-Lesser” (which expression shall unless it be repugnant to the context or meaning thereof be deemed to include his heirs, executors, administrators and assigns) of the One Part; AND XYZ also of ________, Indian Inhabitant, hereinafter called “The Sub-Lessee” (which expression shall unless it be repugnant to the context or meaning thereof be deemed to mean and include his heirs, executors, and administrators) of the Other Part;
W H E R E A S:—
(a) By an Indenture of Lease dated 4th day of May 2000 and made between one Shri PQR as the Lesser of the one part and XYZ as the Lessee of the other part (the sub-Lesser herein) and registered with the office of the Sub-Registrar of Assurances at Mumbai under Serial No. _______ of _______ year, the plot of land situate at Cadell Road, Mumbai and more particularly described in the Schedule hereunder written was demised by the Lessers in favour of the Lessee for the term of 99 years commencing from the 5th day of May 2000 renewable at the option of the Lessee from time to time for each further term of 33 years on the terms and conditions therein mentioned at the rent and subject to the covenants and conditions therein reserved and contained.
(b) Thus, the Sub-Lesser is seized and possessed of or otherwise well and sufficiently entitled to the said plot more particularly described in the Schedule hereunder written and is also entitled to Sub-demise the same as per the said Indenture of Lease dated 4th May 2000.
(c) The Sub-Lesser has agreed to Sub-demise to the Sub-Lessee the said Plot of land together with the right to construct building and structures thereon for the period and at the rent and upon the terms and conditions recorded herein.
(d) At the request of the Sub-Lessee, the Sub-Lesser has agreed to execute these presents in favour of the Sub-Lessee.
NOW THIS INDENTURE WITNESSETH AS FOLLOWS:—
1. In pursuance of the said Agreement and in consideration of the rent and Sub-Lessee’s covenants hereinafter reserved and contained he the Sub-Lesser doth hereby Sub-demise Unto the Sub-Lessee ALL THAT piece of land situate at Cadell Road and more particularly described in the Schedule hereunder written together with the right to construct structures and buildings thereon and shown in blue wash delineated by red coloured boundary line on the plan thereof hereto annexed TO HOLD UNTO the Sub-Lessee the premises hereby Sub-demised (hereafter for brevity’s sake referred to as “the Sub-demised premises”) from the __________ day of ___________ Two thousand two for the term equivalent to the unexpired residue less the last three days of the term created by the hereinbefore recited Indenture of Lease dated 4th May 2000 but determinable as hereinafter provided yielding and paying the yearly rent of Rs. 10,000/- (Rupees ten thousand only), and which rent shall be payable by the Sub-Lessee to the Sub-Lesser on or before 10th day of January every year in advance.
2. The Sub-Lessee doth hereby expressly covenants with the Sub-Lesser as under:—
(a) To perform all covenants, conditions and stipulations under the above recited Indenture of Lease dated 4th May 2000 and not to do or permit to be done on the sub-demised premises anything which may be in contravention of the terms of the said Lease dated the 4th May 2000.
(b) That he will during the said term regularly pay to the Sub-Lesser the aforesaid yearly rent without deduction and in all the circumstances in the manner aforesaid. In the event of any delay, the Sub-Lessee shall pay interest on the arrears at the rate of 15 per cent per annum from the due date till the date of actual payment. Such interest shall be recovered as if the same formed part of the rent and will carry compound interest at the same rate with six monthly rests. The provision of interest shall be without prejudice to the other rights and remedies of the Sub-Lesser.
(c) That from the date of the commencement of the Sub-Lease he will also pay and discharge all rates, taxes, charges, duties, burdens, assessments, outgoings and impositions whatsoever now payable or hereafter during the said term to become payable and now or hereafter during the said term assessed charged or imposed upon the demised premises or any part thereof or upon the buildings to be hereafter erected whether payable by landlord, tenant or occupier in respect thereof respectively.
(d) That he the Sub-Lessee will at his own efforts, expense and cost be entitled to construct and complete upon the demised land a building or buildings with all requisite and proper sewers, drains and other conveniences thereto in accordance with prevailing law.
(e) That he will in executing the works aforesaid and at all times during the continuance of this Sub-demise observe and confirm to all such rules and regulations of the Municipal Corporation of Mumbai and other authorities as may be in force for the time being relating to buildings.
(f) That he will at his own expense maintain and keep in repair the drains, sewers and gullies leading from the said building and premises in accordance with the Municipal Act and the bye-laws thereunder for the time being in force without requiring any notice in that behalf from the Sub-Lesser.
(g) That he will not do or cause or suffer to be done upon the Sub-demised premises any act which shall be a nuisance or annoyance, or be injurious or offensive to the owners or tenants of any neighbouring premises.
(h) That he will indemnify and keep indemnified the Sub-Lesser against all suits, claims and demands in respect of the demised premises.
(i) That he will at the expiration or sooner determination of the said term quietly surrender and deliver up to the Sub-Lesser the said Sub-demised premises together with all buildings and erections which shall have been built thereon during the said term and all drains and appurtenances thereto in such good and substantial repair and condition and so maintained, saved and cleansed and in all respects in such state and condition as shall be consistent with the due performance of the several covenants hereinbefore contained.
(j) The Sub-Lessee shall not assign transfer or part with the possession of the demised premises or any part thereof to any person without previously obtaining the written consent of the Sub-Lesser which consent shall not be unreasonably withheld. PROVIDED FURTHER that after the building/s to be constructed on the Sub-demised premises as aforestated is completed, the Sub-Lessee shall be entitled without such consent to sell and assign the constructed premises to third parties for the exclusive benefit of the Sub-Lessee. However, once the development of the demises premises is over, the Sub-Lessee shall be entitled to execute Assignment of Sub-Lease in respect of the same for the remaining period along with the conveyance of the structures to the Co-operative Housing Society or a limited company or any Association of persons which may be formed by the Purchasers of constructed premises on the demised premises.
3. PROVIDED ALWAYS AND IT IS AGREED and declared that if the rent hereby reserved or any part thereof shall be in arrears, for the space of thirty days after the same shall have become due whether the same shall have been legally or formally demanded or not or if and whenever there shall be a breach or non-performance or non-observance by the Sub-Lessee of any of the Covenants, conditions or agreements herein contained, it shall be lawful for the Sub-Lesser to re-enter upon the demised premises or any part thereof in the name of the whole and immediately thereupon this demise and all rights of the Sub-Lessee hereunder shall stand absolutely determined but without prejudice to any right or remedy of the Sub-Lesser already accrued and then subsisting PROVIDED HOWEVER before making such re-entry in respect of any breach of covenant, notice in writing shall have been given to the Sub-Lessee intimating the breach of covenant. If the Sub-Lessee fails to make good such breach within two months of the date of service of such notice, the Sub-Lesser shall be entitled to re-enter upon the Sub-demised premises or any part thereof in the name of the whole and thereafter the Sub-Lease shall stand determined provided always not such re-entery shall be without prejudice to any right of action or remedy of the Sub-Lesser in respect of any antecedent breach of any of the covenants on the part of the Sub-Lessee. The term for payment of interest on the arrears of rent shall not prejudice or affect the right of re-entry herein contained.
4. He the Sub-Lesser doth hereby covenant with the Sub-Lessee that the Sub-Lessee paying the rent hereinabove reserved and performing and observing all the covenants, conditions and agreements on the part of the Sub-Lessee hereinbefore contained shall peaceably hold and enjoy the Sub-demised premises during the said term without any interruption by the Sub-Lesser or any person claiming under him.
IN WITNESS WHEREOF the parties have hereunto set and subscribed their respective hands, the day and year first hereinabove written.
THE SCHEDULE ABOVE REFERRED TO:
(Give description of the land)
SIGNED AND DELIVERED by the )
Within named ABC, the Sub-Lesser, )
Above named, in the presence of ...... )
1.
2.
SIGNED AND DELIVERED by the )
withinnamed XYZ, the Sub-Lessee, )
abovenamed, in the presence of ...... )
1.
2.
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