Property_Manu - Final - The New India Assurance Co. Ltd.

The New India Assurance Co.Ltd.employment) at any time during the subsistence of this lease , then the lease shall at theoption of the Lessee, stand determined or if so called upon by the Lessee, the Lessorshall take all steps, to reinstate repair & the Lessee shall be entitled to the whole orproportionate abatement of the monthly rent, as the case may be till the demised premisesor part thereof reinstated, repaired & made fit for occupation of the Lessee.· The Lessee shall be entitled to renew the lease for a further period of ...... years, i.e. from...... to ....... provided a written notice in that behalf is given to the Lessor within two monthsbefore the expiry of the lease. In such case the Lessor shall grant to the Lessee a renewalof the lease of the demised premises for a further period on nine/ten/fifteen years on thesame covenants, terms & conditions as herein contained except that the monthly rentwhich shall be decided at the rate mutually agreed upon.· The Lessee shall be at liberty to vacate the premises (if required) by giving due writtennotice 3 months in advance and shall not be liable for payment of any kind of penalty/compensation to the Lessors.· The lease shall be executed in duplicate. The Lessee shall pay 50% of the Stamp Duty onthe original & duplicate lease. The original lease shall be registered, 50% of the cost ofwhich shall be paid by the Lessee & 50% by the Lessor. The registered original leaseshall remain in possession of the Lessee & the signed duplicate copy thereof shall bekept by the Lessor. Each party hereto shall pay & bear its own Lawyer’s charges.IN WITNESS WHEREOF the parties hereto have executed these presents the day & the yearfirst above written.SIGNED SEALED AND DELIVEREDBY THE SAID Mr. ........................the said Lessor in the presence of :SIGNED SEALED AND DELIVEREDby Mr. ......................and Mr. ....................of the Lessee in the presence of :-HHHHHMANUAL ON PROPERTY85