LEASE OF MILL WITH ENGINES AND MACHINERY

THIS LEASE made the………………day of………………between A B Co. Pvt. Ltd., a company incorporated under the Companies Act, 1956 and having its registered office at ………………	(hereinafter referred to as"the Lessor") of the ONE PART and X Y Co. Pvt. Ltd., a Company incorporated under the Companies Act, 1956 and having its registered office at………………(hereinafter referred to as "the Lessee") of the OTHER PART
 
NOW THIS DEED WITNESSETH AS FOLLOWS:
 
(1)The Lessor hereby demises unto the Lessee.
 
(i) All that cotton mill and power loom weaving shed with the engine house, boiler house, warehouse and other erections, buildings, and constructions situate on the Plot No ………………. Survey………………No..........................,HissaNo  ………Tehsil…………District...............and called as the Gupta Mills.
(ii) All the steam engines, steam boilers, main cross upright and horizontal shafting mill, all other fixtures and fittings, water pipes, and other apparatus now being in or upon and attached or belonging to the said Gupta Mill shed, buildings and premises TO HOLD all the said premises unto the Lessee from the. ................	day of 	for a term of ………………years.
 
Paying therefor during the said term yearly rent of Rs ………………. without any deductions and to be payable in advance, the first year's rent to be payable on the commencement of term and rent of subsequent years to be payable in advance by half-yearly payments on the................day of .................and	the.................	day of ............	in each year at the office of the Lessor or at such other place or places as the Lessor may from time to time appoint in this behalf.
 
(2)The Lessee hereby covenants with the Lessor as follows:
 
(i) To pay the reserved rent hereby reserved on the days and in manner hereinbefore appointed
 
(ii) To pay all existing and future rates, taxes, assessments and charges of every description now payable or hereafter to become payable in respect of the said demised premises either by the owner or occupier thereof.
 
(iii) To keep at his own expense interior and exterior of the first demised premises and all improvements and additions thereto in tenantable repair.
 
(iv) To keep the steam engines, steam boilers, main cross and other shafting mill and other fixtures, machineries, fittings and apparatuses in good working order, repair and condition (fair wear and tear excepted) and to replace by suitable articles of similar quality.
 
(v) To limewash the walls and other parts of the said demised premises and any additions therefor, once in a year of the said term.
  
(vi) To paint with two coats of good oil paint in a workman like manner such of the outside and inside wood and iron work of the demised premises and any additions thereto as are usually painted; once in a year of the said term.
 
(vit) To clear out the engine well and properly and substantially repair all pipes, fittings and other conveyances thereunto belonging or. connected therewith.
 
(viii) To permit the Lessor and his authorised agents at all reasonable times to enter upon the demised premises or any part thereof for inspection of the state and condition thereof and also of the engines, boilers, fixtures, fittings, apparatus and machineries of every description, the property of the Lessor in, upon or about the same and if the lessor or his representatives find that any repair is necessary to be done or any part of the machinery, apparatus, fixtures, fittings of any description is to be replaced, the Lessor may serve a notice in writing to the Lessee to execute the same and the Lessee shall proceed diligently with the execution of such repairs or supplying such replacements within one month after the service of such notice.
 
(ix) Not to remove any part or parts of the demised premises or any part of the machineries, fittings, apparatuses and fixtures therein or thereupon without the previous consent in writing of the Lessor, which shall not be withheld, unreasonably
  
(x) Not to use the said demised premises to manufacture, trade or business, which is against any law for the time being in force or which may be deemed to be a public or private nuisance or cause inconvenience to the neighbours of the demised premises.
 
(xi) To comply with the requirements of Labour Legislations for the time being in force and to indemnify and keep indemnified the Lessor against any breach or non-observance thereof.
 
(xii).Not to assign, underlet or part with the possession of the demised premises or any part thereof without the previous written consent of the Lessor, such consent will not be unreasonably withheld.
 
(xiii) To keep insured during the term, the demised premises, machineries, boilers, fixtures, apparatus and all other fittings with an insurance company for a sum of Rs . ..................
  
(3)The Lessor hereby covenants with the Lessee that the Lessee paying the rent hereby reserved and performing and observing the several covenants and stipulations on his part herein contained, shall peaceably hold and enjoy the demised premises during the said term without any interruption by the Lessor or any person rightfully claiming under or trust in him.
 
(4)Provided always and it is expressly agreed as follows:
 
(i) If the rent hereby reserved or any part thereof shall at any time be unpaid for one month after becoming payable or if the covenants and stipulations on the Lessee's part herein contained shall not be performed or observed, then and in any such case it shall be lawful for the Lessor at any time thereafter to re-enter upon the demised Premises or any part thereof and thereupon this demise shall absolutely determine
 
(ii)If the demised premises or any part thereof shall be destroyed or damaged at any time by fire, explosion, storm or tempest so as to be unfit for occupation and use, then the rent, first hereinabove reserved or a fair and just proportion thereof according to the nature and extent of the damage done shall be suspended, until the said premises shall be again rendered fit, for occupation and use.
 
(iii) If the Lessee shall be prevented by any labour dispute from running or working the said mill, the rent payable under this lease shall for the period during which the lessee is so prevented be reduced from the said sum of Rs ………………	to the sum of Rs………………	such reduced rent to be paid at the times and in manner hereinabove mentioned with respect to the payment of the said yearly rent of Rs . ..................
 
(iv) In case any dispute or question arises due to the interpretation or effect of any clause or clauses in this deed or the rights, duties or liabilities of either party under this lease or otherwise in connection with the demised premises, the matter in difference shall be referred to the arbitration of one arbitrator to be appointed by mutual agreement and in case of disagreement to two arbitrators  one arbitrator to be appointed by each party and such arbitrators so appointed shall appoint one umpire before entering upon the reference. The reference of arbitration under this clause shall be deemed to be reference under the provisions of Arbitration Act, 1940 or any statutory enactment in that behalf for the time being in force.
 
(v) Any consent or notice required to be given hereunder shall be in writing and if given by the Lessor shall be sufficient if signed by the  authorised representative of the Lessor and shall be given or served if addressed to the Lessee at the address given above or any other address as may be communicated to the Lessor from time to time and any notice to be given to the Lessor shall be sufficiently served if addressed to the Lessor at the address given above or any other address as may be communicated to the Lessee from time to time.
 
(5)This Lease Deed shall be executed in duplicate. The original shall be retained by the Lessor and the duplicate by the Lessee.
 
(6)The stamp duty and all other expenses in respect of this Lease Deed and duplicate thereof shall be borne and paid by the Lessee
 
(7) The marginal notes and the catch lines hereto are meant only for convenience of references and shall not in any way be taken into account in the interpretation of these presents
 
IN WITNESS WHEREOF, the Lessor and Lessee have caused their common seal to be affixed hereunto and a duplicate hereof on the day, month and year first hereinabove written.
 
WITNESSES	The common seal of the within named Lessor A B Co. Pvt. Ltd., was hereunto 			affixed pursuant to the resolution of its Board of Directors passed on the 	  		1.	................	in the presence of Shri ………………and Shri ………………			Directors who have signed these presents
2.	The common seal of the within named Lessee X Y Co. Pvt. Ltd., was hereunto affixed pursuant to the resolution of its Board of Directors passed on the.................	in the presence of  Shri and Shri Director and secretary who have signed these presents