LEASE AGREEMENT

LEASE AGREEMENT

This  AGREEMENT  OF LEASE is made and executed on this day of _ between M/s._, having registered office at _, and having plant at _________________, represented by its Director, Mr. _____, herein after called “LESSOR” (which expression shall mean and include their successors, heirs and assigns)

                                                            AND

M/s._____, having registered office at  _____, represented by its Director, _______, herein after called “LESSEE’ (which expression shall mean and include their successors, heirs and assigns)

WHEREAS the LESSOR  owns a state of the art Plant at ___ .

WHEREAS the LESSOR intended to lease the processing and cold storage plant more fully described in the Schedule annexed hereto and the LESSEE agreed to take on lease the said plant for processing and storing shrimp and other seafood on the terms and conditions reduced into writing as follows :

1. The LESSEE has to take on lease plant for a monthly consideration of Rs.__/- (Rupees ____ only).  The lease rentals shall be paid with in 10 days from the completion of the month for which lease rental due.

2. The LESSEE is entitled to use the plant and other assets for the purpose of production nonly.

3. The LESSEE is at liberty to employ and depute the requisite staff, employees and other persons for the smooth operations of the plant.

4. The LESSEE shall not lease or sublease, part with any section or division of the processing plant or any assets of the company to any other person or entity without the express permission from the LESSOR.

5. The lease agreement shall be effective from __________, shall be for a period of 1 year and valid up to ___.  The lease agreement is further renewable on similar or revised terms agreeable between the LESSOR and LESSEE from time to time.

6. The LESSEE shall not, will fully or other wise demolish, alter, extend, cause damage to the property and other assets, without express permission from the LESSOR.

7. The LESSEE shall during the said term make minor repairs, maintain, clean, upkeep, the said leased premises with the appurtenance in good condition together with all fittings, electrical, sanitary, windows and doors, drainages, water closets, toilets, change rooms etc.,  also in good condition.

8. The LESSEE shall make an interest free security deposit of Rs.__/- (Rupees __ Only) the deposit shall be retained by the LESSOR during the tenure of the lease period.

9. The LESSEE undertakes to vacate the premises after the expiry of the period mentioned above without any notice whatsoever. Notwithstanding this the lease can be terminated voluntarily by either party by giving 3 months notice to other party.

10. The LESSEE further covenants that they shall not keep any goods which are prohibited under law in any part of the premises and if any civil and criminal liabilities arise therefore, it shall solely be the liability of the LESSEE above and if the LESSOR for any reason suffers any loss or incurs any kind of expenditure on that score, the LESSEE warrants to indemnify the entire loss at their cost.

                                                                                                                       

                                                                                                                                 

11. The LESSOR shall pay all the local and municipal taxes due on the property during the term of the lease and in the event of failure to do so, it shall be open for the LESSEE to pay such taxes and recover the same from the rentals payable.

12. The LESSEE shall utilize the plant premises in such a way not to, inconvenience, hardship to the neighbour hood, general public, contravene regulations of local authorities and if the LESSOR for any reason suffers any loss or incurs any kind of expenditure on that score, the LESSEE warrants to indemnify the entire loss at their cost.

13. The LESSOR and the LESSEE can alter, amend add, delete, any of the items in the schedule and other clauses of the Lessee agreement mutually.

14. The LESSEE shall pay the monthly electricity consumption bills as per due date and shall pay any additional electrical consumption deposit or any other such deposit or charges demanded by the authorities from time to time.

15. The Owner (LESSOR) on the one hand and the person utilizing (LESSEE) the surplus capacity on the other shall also be responsible for any acts of omission or commission by the others, either in respect of quality issues or in respect of trade related issues, including cheating, whether or not it is attributable to problems relating to the processing plant or handling facility.

16. The LESSOR and LESSEE further agreed that this agreement overrides all other agreements subsisting, if any.

The LESSOR and the LESSEE having agreed and gone through the terms and conditions laid in the above clauses and having agreeing thereto and signed in the presence of below mentioned witnesses of the day month and year   stated above.

LESSOR                                                         LESSEE

WITNESS  :

1)

2)