LEASE AGREEMENT

This AGREEMENT OF LEASE (THE “AGREEMENT”) is made and executed on _____

day of ___________, ______ at GORAKHPUR(UP) BY AND

BETWEEN

VIDYASAGAR SEVA SAMITI, Khorabar, Gorakhpur (Hereinafter referred to as LESSOR

through its Secretary Prof. R.D.Patel, S/o ____________________, R/o
_____________________ which expression shall, unless contrary to or repugnant to the context,
mean and include its successors, administrators and permitted assigns) on the one part.

AND

UTKARSH SEVA SAMITI, Daudpur, Gorakhpur represented by its Authorized Signatory Mrs.
Subhrata Singh, W/o Mr. Bhupal Singh, R/o ____________________ duly authorized by a Let-
ter of Authorization dated ___________,(Hereinafter referred to as LESSEE which expression
shall unless it be repugnant to the context mean and include its successors in, office and assigns,
of the Other PART).

The Lessor and the Lessee shall hereinafter be individually referred to as the “Party” and collec-
tively as the “Parties”.

WHEREAS the LESSOR is the absolute owner of the property more fully described in the
schedule hereunder having purchased the same in and by a deed of sale registered as Document
No._______________ in the office of sub registrar at _____________________

WHEREAS the LESSOR is desirous of letting out the above said demised premises to the
LESSEE and the LESSEE is also desirous of taking on lease the said property on the following
terms and conditions which have been mutually agreed by the LESSOR and the LESSEE in the
lease deed.
NOW THIS LEASE DEED WITNESSETH AND IT IS HEREBY AGREED BY AND BE-
TWEEN THE PARTIES HERETO AS UNDER: -

1. GRANT OF LEASE

1.1. In consideration of the rent herein reserved (hereinafter referred to as “Lease

Rent”) and of the covenants and conditions herein contained on the part of the

Lessee to be paid, observed and performed, the Lessor does hereby grant, convey

by way of lease; the quiet, peaceful and uninterrupted possession, occupation and

use of the Lease Premises which is fully and particularly described in Annexure I,

for the entire Lease Period together with all the rights, easements and appurte-

nances belonging thereto, including the rights as specified hereunder.

1.2. The facilities and features provided by the Lessor in the said Lease Premises shall

be as set out and detailed in Schedule I to this Lease Deed.

2. TENURE OF LEASE

2.1. The Lease shall be for a period of 25 (Twenty Five) Years (hereinafter referred to

as “Lease Period”) commencing from 01st _____________, 2021 (hereinafter re-

ferred to as the “Effective Date”). Further the lease shall be for an initial period

of 25 years and renewable for a second term of ___________ on same conditions

between both the parties by executing a separate agreement further. The Lessee in

any condition shall be bound to evacuate the premises and handover the peaceful

possession of the premises to Lessor on expiry of all terms with all fixtures and

furniture installed by Lessor in the Leased premises.

3. LEASE RENT

3.1. It has been agreed between the Parties that the Lease Rent including maintenance

will be Rs. 1,00,000/- (Rupees One Lakh) per month for a period of first 12
 (Twelve) months. Lease Rent is subject to increase by Rs. 3,00,000 (Rupees

Three Lakhs) annually after expiry of every 12 months for first 5 years from the

date of commencement of the agreement. The lease rent includes rent for the

school premises, Rent against furniture and fixtures, monthly maintenance

charges and parking charges. All Such amounts are exclusive of Goods and Ser-

vice Tax (as applicable). Lease rent and maintenance shall escalate by 8% (Eight)

over the last rent and Maintenance paid after every 3 years after the expiration of

the first 5 years.

3.2. The Lessee agrees to pay the Lease Rent in advance to the Lessor on or before the

10th day of each month for the month for which Rent is due without demand or de-

fault.

3.3. The LESSOR and LESSEE agree to a non refundable Security Deposit of Rs.

6,00,000 (Rupees Six Lakhs) which is equivalent to 6 months lease rent, to be

paid within 15 days of the commencement of the agreement, to ensure the perfor-

mance of all the terms and conditions of the agreement. After the payment of the

abovementioned security deposit monthly payment of lease rent for 1st year will

be Rs. 50,000/- (Rupees Fifty Thousand) per month.

4. LESSEE’s OBLIGATION & COVENANTS

4.1. The Lessee hereby covenants as follows:

4.1.1.That the Lessee will, during the continuance of this Lease, pay to the

Lessor the Lease Rent as specified above and that such payment will al-

ways be subject to deduction of tax at source, if applicable.

4.1.2.Lessee shall pay the electricity bill for their consumption directly to the

Electricity Board subject to the actual meter readings in the sub-meter in-

stalled in the demised premise.

4.1.3.That subject to the conditions prescribed herein, during the subsistence of

the Lease or any extension thereof, the Lessee shall be entitled to use the

Lease Premises for carrying on its business in the manner it deems fit.

4.1.4.That the Lessee shall at all times during the Lease Period, not do any act

or cause any act to be done, or carry on any activity in the Lease Premises

which is illegal and/or in violation of any government order or which is

opposed to public interest.

4.1.5.That the Lessee shall not encumber the Lease Premises in any way. The

Lessee shall not mortgage or create any charge over the Lease Premises.

4.1.6.That upon the expiry or termination of the Lease or any renewal thereof,

the Lessee shall hand over the peaceful possession of the Lease Premises

with all furniture and fixtures installed in the leased premises to the Lessor

in good and proper condition, save and except any normal wear and tear

and/or any damage or destruction caused due to any force majeure event

and for factors beyond control.

4.1.7.That the Lessee shall provide the Lessor or any of its duly authorized rep-

resentatives access to the Lease Premises during normal business hours

and business days for carrying out periodic inspection of the Lease

Premises and the facilities, fittings and equipment provided therein and/or

for the periodic maintenance or repair of all facilities and equipment fall-
 ing within the scope of the Lessor, provided that such representative ob-

tains a prior appointment from the Lessee by providing a prior notice of at

least one (1) business day.

4.1.8.That the Lessee shall not use the Lease Premises or any part thereof in

such manner which shall create unwarranted hindrances and nuisance for

the other occupants of the Scheduled Property and its immediate neigh-

bours.

5. LESSOR’s OBLIGATION & COVENANTS

5.1. The Lessor hereby covenant, represents and holds as under:

5.1.1.Commercial Use: that under the municipal zoning/user rules, the Lease

Premises are capable of being used for commercial purpose and the Lessor

has obtained all consents, permissions and approvals necessary in law or

otherwise for such purpose. That as on the date of this agreement there are

no disputes, actions, suits or proceedings pending before any governmen-

tal/local/municipal authority, court, or judicial or quasi-judicial authority

to its knowledge, which affects or may affect the Premises.

5.1.2.Quiet Enjoyment: The Lessor shall enable the Lessee to peacefully and

quietly hold and enjoy the Lease Premises without any interruption or dis-

turbance from or by the Lessor or any person lawfully or otherwise claim-

ing by or through or under the Lessor or any third party during the Lease

Period and for such Extended Duration till the termination or expiry of the

Lease, subject to the Lessee fully complying with all terms & conditions

of this lease-deed.
 5.1.3.The Lessor shall insure the Building premises at its own cost and shall

provide the requisite facility specifically mentioned in the Schedule – III

of the agreement under this lease arrangement.

5.1.4.Sanction Plan: That the building in which the Lease Premises is located

is constructed in accordance with the building plans duly approved by Mu-

nicipal Corporation or any other local authority and as per the applicable

rules and regulations in that behalf and under the approved building plans,

the Municipal Corporation or any other local authority has permitted the

use of the Lease Premises for commercial purposes.

5.1.5.The Lessor shall pay to the Municipal Taxes, Property Tax and other

taxes, levies and outgoing for the past and present period in respect of the

leased premises up to date and future periods whenever falling due. This is

required to ensure uninterrupted occupation by the Lessee during the pe-

riod of lease.

5.1.6.The Lessee shall not sublet or assign or otherwise part with the posses-

sion of the demised Premises or any part thereof nor to create any third-

party rights therein or any part thereof in any case during the entire span of

the agreement and shall ensure peaceful possession of the lessee without

any hindrance.

6. REPAIR AND MAINTENANCE

That the LESSEE shall carry out all day to day repairs and maintenance work in

the property if required during the use of the said demised premises. That the
 LESSOR takes the responsibilities of structural defects and would rectify at his

cost when it occurs through its property consultant.

7. TERMINATION OF LEASE

The Lessee and the Lessor may terminate the agreement by providing Three (03)

months’ notice in writing to the other Party. However, in case of breach of any or

all of the terms & conditions of this lease by the lessee, the Lessor shall be at lib-

erty to terminate this agreement during the lock-in period as well by way of such

written notice as contemplated in this para.

8. INDEMNIFICATION

Each Party (Indemnifying Party) shall as stipulated in this Agreement, indemnify,

keep indemnified and hold harmless the other (“Indemnified Party”) from all

losses, claims, demands, expenses and costs suffered and / or incurred by the In-

demnified Party arising from a breach of any of the provisions of this Agreement.

9. GENERAL

9.1. The parties executing this Agreement represent that they have authority and

power to sign this Agreement.

9.2. The Lessor is entitled to sell or transfer or assign or mortgage or charge or encum-

ber the Premises or any part thereof (“Transfer”), provided that the Lessor shall

inform the Lessee of the same and shall, in any event, ensure that the Transfer

shall be subject to the right of the Lessee to occupy and use the Premises under

the terms of this Agreement. Further the Lessor agrees that the rights of the
 Lessee under this Agreement shall continue to remain in full force and effect and

that the transferee agrees in writing to be bound by all the terms and conditions

contained herein.

9.3. All costs, charges and expenses payable on or in respect of the Agreement and on

all other instruments and deeds to be executed, if any, pursuant to the Agreement,

including stamp duty on this Agreement, registration charges if any, shall be

borne by both the parties. Each Party shall bear its own legal fees.

9.4. Each provision of this Agreement shall be interpreted in such manner as to be ef-

fective and valid under applicable law, but if any provision of this Agreement is

held to be invalid, illegal or unenforceable in any respect under any applicable

law or rule in any jurisdiction, such invalidity, illegality or unenforceability shall

not affect any other provision or in any other jurisdiction, but this Agreement

shall be severed, reformed, construed and enforced in such jurisdiction as if such

invalid, illegal or unenforceable provision had never been contained herein.

9.5. In the event of the said premises or any part thereof being materially damaged or

destroyed storms tempest, flood or other or act of god, war, air raid, civil com-

motion, or any irresistible force so as to rendered the said premises or any part

thereof either wholly or substantially and permanently unfit for the purpose for

which the same are let the tenancy shall at the option of the Lessee be void but

in the event of the Lessee desiring to continue the lease and the said premises as

may be reasonably required to enable the Lessor to repair to restore them to their

former state and condition and in such event the whole or a proportionate part of

the rent, as the case may be, shall abate till the damage is repaired and said
 premises are restored to their former state and conditions, so as to make them fit

again for the purpose for which they were let and the Lessee shall commence

paying the full rent from the date of said premises are so rendered fit again.

9.6. The Parties hereto agree that this Agreement shall be Registered in Gorakhpur,

UP.

9.7. This Agreement, together with the Schedules and Annexures attached hereto or

other documents signed by the parties expressly stated to be supplemental hereto

constitute the entire agreement between the Parties.

9.8. This Agreement may be signed in any number or counterparts, each of which,

when signed and delivered, shall be an original, but all such counterparts shall

constitute one and the same instrument.

10. NOTICES

That any notices/letters required to be served upon shall be sent by registered post

at the addresses of the LESSEE and LESSOR and if there is any change in the ad-

dress of any party, it shall be intimated in writing.

Communication to LESSOR:

________________________________________________________

Communication to LESEE:

________________________________________________________

11. JURISDICTION & ARBITRATION

 11.1. This Lease Deed shall be construed in accordance with and governed by

the laws of India and subject to Clauses 11.2 and 11.3 the courts in Gorakhpur

(UP) shall have exclusive jurisdiction.

11.2. The Parties hereto shall endeavour to amicably settle all disputes and dif-

ferences relating to or arising out of this Lease Deed through friendly negotia-

tions.

11.3. In the event of Parties failing to resolve any dispute amicably, the same

shall be referred to a single arbitrator, in case the Parties can agree upon one and

failing such agreement, to three arbitrators, one each to be appointed by both

Party, and the two arbitrators as aforesaid to appoint the third one. The Arbitration

proceedings shall be conducted in English and in accordance with the provisions

of Indian Arbitration and Conciliation Act 1996 or any statutory modification or

enactment thereof. The venue and place of arbitration shall be in Lucknow (UP).

The arbitral award shall be binding on the Parties. The cost of arbitration shall be

mutually shared by and between the Parties unless the award determines to the

contrary.

IN WITNESS WHEREOF, the parties hereto have subscribed TO THIS LEASE DEED,
HAVE SEALED AND SET their respective hands on the day, DATE and year first herein
above written IN THE PRESENCE OF:

For and on behalf of the LESSOR For and on behalf of LESSEE

____________________ ____________________
LESSOR LESSEE

WITNESSES:

[1] Signature__________________ [1] Signature_________________

Name ________________________ Name ______________________

_____________________________ ___________________________

Address ______________________ Address ____________________

[2] Signature__________________ [2] Signature_________________

Name ________________________ Name ______________________

_____________________________ ___________________________

Address ______________________ Address ____________________

 SCHEDULE-I

"DETAILS OF THE DEMISED PREMISES"

______________________________________________________________________________
______________________________________________________________________________
______________________________________________________________________________
______________________________________________________________________________

TOTAL AREA OF THE PREMISE : ___________ sQ. FT.

Details of Four Corners – Instant Tea Plant:

North: ______________

West: ______________

East: ______________

South: ______________
 SCHEDULE-II

Facilities

A. Power supply and generators

B. Security arrangements
C. Health and Safety Standards

LESSOR shall ensure the certain minimum health and safety standards (including, with-
out limitation, fire exits, fire protection system, evacuation facilities) as are appropriate to
the building of which the Premises form a part as well as any statutory requirements are
provided and maintained in good working condition throughout the Lease Term.

D. Space for name plates and sign boards of LESSEE

LESSOR shall ensure availability of signage on signage pylons at front side of the build-
ing of which the Premises form a part where all occupants of the building may display
their signage.

E. Water supply

LESSOR shall ensure adequate water supply at the Premises for use by LESSEE.

F. Parking Facility
G. Maintenance Services

LESSOR shall provide the maintenance services in relation to the Premises. Mainte-
nance Services shall include the following:

i) Cleaning, housekeeping and maintenance of common ar-

eas;
 ii) Maintenance of exterior of the Premises including glass fa-
cade, signage, entrance, doorways, staircases, landings, lobbies, pas-
sages, etc.;
iii) Maintenance of common facilities such as entire sanitation
system, common electrical systems, common drains, gutters, external
pipes, pumps, fire-fighting and alarm systems, electric substations,
transformers, water tanks, etc.;
iv) Maintenance of regular water and electricity supply;
v) Maintenance of lifts and elevators in good working condi-
tion.
 SCHEDULE-III

List of Furniture and Fixtures Installed in the Leased Premises