Lease Agreement, Home Rent Agreement, Building Lease Agreement

LEASE AGREEMENT

                THIS LEASE AGREEMENT made at Islamabad this 6^th Day of October 2009, between ....................... S/O .................., resident of House No..................................having NIC No. .................................... (hereinafter called the “LESSOR”) of the one part;

AND

..........................................................................................., having NIC No. .......................................... in his personal capacity, (hereinafter called the “LESSEE”) of the other part. The expressions of the Lessor as well as the Lessee shall include, wherever the context so require, their respective heirs successors-in-interest, legal representatives and assignees.

                WHEREAS the Lessor is the rightful owner in possession of House No. ..................................................   AND WHEREAS the Lessor intends to rent out the above-mentioned house (hereinafter called the PREMISES”) and the Lessee has agreed to take the same on monthly rental basis.

                NOW, THEREFORE, this Lease Agreement is executed under the following terms and conditions:-

1.        that this Lease Agreement will initially be valid for a period of one year w.e.f. ........October, 2009......, renewable if and as mutually agreed upon by both the parties.

2.        that the monthly rent of the demised premises has mutually been decided as .............Rs. 14500/-............ (Rupees Fourteen Thousand five hundred only), during the validity period of this Lease Agreement.

3.        that the Lessee will pay an amount of ..............Rs. 14500/-................ to the Lessor as advance rent for the month of ................October 2009.

4.        that the consumption bills of Electricity, Gas and Telephone installed at the premises will be paid by the Lessee.

5.        that the Lessor will have no objection if the Lessee gets a new telephone connection or any of his existing telephone(s) shifted in the premises at his own expenses and responsibility.

6.        that the Lessee will not make any structural changes in the demised premises without written consent of the Lessor and not use the premises for any unlawful purpose. The Lessee will not sublet the House in full or any part thereof to any body else either on rent/goodwill or otherwise, but after expiry/termination of the Lease Agreement or renewal thereof, the Lessee shall hand over vacant and peaceful possession of the House to the Lessor. The Lessee will make good the damages, if any, caused during his period of tenancy.

7.        that in case the Lessee wishes to vacate or the Lessor intends to get the premises vacated, this Lease Agreement will be terminable by giving one month’s written notice from each side to the other party.

IN WTNESS WHEREOF, both the parties have set their respective hands to this Lease Agreement on the day, month and the year first mentioned above, in presence of the witnesses.

LESSEE:  ................ Name                                  LESSOR:  Name.................

WITNESSES:

            

                1. Name                                                                                     2. Name

                    NIC No. ..........................................                                         NIC No. ............................

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