LEASE DEED

THIS LEASE AGREEMENT is made at Lahore on this  ______ day of March 2008.

BY AND BETWEEN

Mr. --------S/o-----------------------,R/o-----------------------, holding NIC No. --------------(hereinafter referred as the "Lessor" which expression shall, unless repugnant to or excluded by the context mean and include his legal heirs, executors, administrators and assigns) OF THE ONE PART.

AND

Mr. --------S/o-----------------------,R/o-----------------------, holding NIC No. --------------, (hereinafter called the “Lessee” which expression shall mean and include its successors-in-interest assigns) OF THE OTHER PART.

WHEREAS the above named Lessor on the date of these presents is legal and lawful owner in possession of a hall measuring 1__________Sq ft., First Floor, situated at Address , Karachi, hereinafter referred as the “premises"

NOW THIS AGREEMENT WITNESSETH AND IT IS AGREED BY AND BETWEEN THE PARTIES HERETO AS FOLLOWS:-

1- GRANT OF LEASE:

The lessor hereby agrees to grant to the lessee a premises on lease described in the schedule hereto (hereinafter referred to as the “the Premises”) for the period and on rent as hereinafter specified. In part performance of this agreement, the Owner has delivered possession of the Demised Premises to the lessee on --------.dated

2-  RENT:

The agreed monthly rent shall be Rs. 15,000/- (Rupees Fifteen Thousand Only). The lessee shall pay the advance rent for 60 Months (i.e. Five years) amounting to Rs. 900,000/- (Rupees Nine Hundred Thousand Only), through (Cross Cheque/ Bank Draft/----)

 

The lessee shall in addition thereto pay a sum of Rs. 60,000/- (Sixty Thousand Only) as a security to the lessor, which will be refundable at the time of completion of this lease or vacation of the demised premises whichever comes first.

 

The future rents i.e. rents payable after the competition of 60 Months (i.e. Five Years) shall be paid in advance before 10th of each month and all such periodic payments of the premises to the lesser shall be made by the lessee through _______________.

 

The periodical payment of the rent of the premises, as mentioned in clause 2(c, shall be made by the lessee to the lessor through( crossed cheque/---/----), the said __________ will be collected by--------------or deposited in the Account-------------------.  

3-   PERIOD:

The lease shall be initially for a period of 60 (Sixty) Months commencing from --------------- to-----------------------.

 

The period of lease hereunder shall start from --------------------, the date of possession given by the owner.

4- OBLIGATIONS OF THE LESSOR:

The Lessor hereby assures the Lessee that he has a valid and subsisting title of the Premises and has full power and legal authority to grant a lease to the lessee as herein agreed.

 

The lessor warrants that the premise is provided with adequate utility facilities and in this respect all such provisions have been examined by the lessee.

 

The lessor warrants that at the time of the commencement of this Lease, the premises and its plumbing, sanitary electrical installations are and shall be structurally sound and the premises are in tenantable condition and all fixtures and fitting, wiring, plumbing, water and sanitary connections are in good, safe and working conditions and all such provisions have been examined by the lessee.

5-  OBLIGATIONS OF THE LESSE:

In addition to the rent herein reserved, the lessee has agreed to pay water, electricity, gas and telephone charges based on actual consumption and/or recorded in such utility bills and shall maintain the premises in good condition at all times.

 

The lessee agrees to pay the rent and charges mentioned above as provided herein without any delay and default.

 

The lessee agrees to fully carry out the terms of this lease and to hand over vacant and peaceful possession of the premises in good and tenantable condition, normal wear and tear, if the said agreement will not be renewed after competition of Sixty (60) Months.

 

The lessee agrees to take care of the premises and to repair and make good at its own expenses any damage to the premises caused by any fault or neglect of the lessee. But this covenant shall not extend to any damage resulting directly or indirectly from reasonable wear and tear, war, riot, earthquakes, floods, blasts and other causes beyond the control of the lessee.

 

The lessee shall not sublet or assign the Premises nor allow any licensee for use of the same or part with the possession of the Premises or any portion thereof to a third person.

 

The lessee shall take all reasonable care to preserve and protect the Premises and maintain the building, lawn, fitting and fixtures in best of condition.

6- DISPUTE RESOLUTION

If any dispute arises between the parties hereto in respect of the interpretation of this agreement or any other matter relating to or arising out of this agreement or as to the rights, liabilities of the parties hereto, the same shall be resolved through an amicable settlement.

 

If there is no amicable settlement as provided in clause 6(a) the parties shall submit the same to an Arbitration Tribunal in accordance with the provisions of the Arbitration Act, 1940

IN WITNESS WHEREOF the parties hereto have hereunder signed this Deed at Karachi on this ____ day of ____ 2025.

            LESSOR                                                                                               LESSEE

___________________                                                                 ____________________

___________________                                                                 ____________________

                        WITNESSES:                                                   

1. ___________________________                  2. __________________________   

Signature                                                            Signature

Name_________________________                 Name_______________________

S/d/w/o________________________              S/d/w/o______________________

NIC NO_______________________                  NIC NO_____________________

Address_______________________                 Address_____________________

______________________________                 ____________________________