DEED OF LEASE AGREEMENT
This deed of lease agreement for rental purpose made on the ….... day of June, 2018 of the Christian Era and shall be considered to be effective from the 1st day of July, 2018
BETWEEN
Mr. Aslam Son of Late- Salam Ahmed Sawdagor, Mother’s name: Mrs. Sayma Khatun, permanent address: Flat- 8/C, House No. 18, Road No.17, Gulshan-1, Dhaka-1212, present address: Ice factory road, 7,Bogdadia Electric market, Chittagong, NID No…………….., contact No. …………….. hereinafter called THE FIRST PARTY which expression shall mean and include his legal heirs, successors in interest ,nominees and assigns of the one part.
AND
Karim group, 648/A, Tejgaon I/A, Dhaka-1208, hereinafter called THE SECOND PARTY which expression shall mean and include his legal heirs, successors in interest ,nominees and assigns of the second part.
That the FIRST PARTY being the exclusive owner of the first floor( counting from the ground floor, same of the first floor of the lift’s 1st stop) of the Navana , Flat No. 8/C, House No. 18, Road No. 17, Gulshan-1, Dhaka-1212 agreed land to rent out the north-east portion of the first floor measuring approximately 3,200 sft. to the SECOND PARTY on the basis of monthly tenancy, for a period of three(03) years under the following terms and conditions:
- That the monthly rent of the said premises( North-East portion of the first floor) shall be Taka 85,000.00(Eighty five thousand only) per month, The monthly rent of the demised premises after deduction of income tax per income tax rule must be paid the the SECOND PARTY positively, within the second week of every month in advance. Copies of challan for income tax, deducted from the rent and deposited to Bangladesh Bank to be submitted to the FIRST PARTY. The payment of the rent must be made by an account payee cheque drawn in favour of the FIRST PARTY (name), and shall not be treated valid without a receipt signed by the FIRST PARTY’S duly authorized agent/representative.
Cont’d page – 02
Page- 02
- The SECOND PARTY shall deposit an amount of Tk.5,10,000.00(Taka Five lac ten thousand) as security money to the FIRST PARTY on the signing date of this agreement. This amount will remain with the FIRST PARTY as long as the SECONG PARTY occupies the premises as tenant.
That the SECOND PARTY shall pay their own utility bills like electricity, telephone, gas etc and submit to FIRST PARTY the payment receipts of the above-mentioned utility bills for their record.
The SECOND PARTY shall bear the proportionate service charges, which they will pay directly to the building society.
That the SECOND PARTY can only use the above mentioned floor for the purpose of office/residential. The SECOND PARTY shall be responsible for all damage done to the premises either or by their employees or agents and shall compensate the same if any.
That the FIRST PARTY shall pay all the City Corporation taxes, ground taxes etc. relating to the above premises. The FIRST PARTY shall also be responsible for any major repairs and outside maintenance of the premises.
That the SECOND PARTY shall not be entitle to sublet the premises either in whole or in part during their occupation as tenant under the FIRST PARTY. THE SECOND PARTY shall handover the vacant possession of the demised premises to the FIRST PARTY upon expiry of the tenancy.
That the deed of agreement shall be remaining valid for a period of three (03) years only. The agreement will renew with the mutual consent and revised terms and conditions for further period. Intention of renewal after the contract period must be communicated before three (03) months of the 1st lease period. After completion three(03) years if the SECOND PARTY desire to continue this agreement the rent will be increased 10% on first agreement per month for further two(02) years.
That the SECOND PARTY shall not create any inconvenience/annoyance to the other tenants of the building or do any illegal/unlawful trade in the premises.
Cont’d page-03 Page-03That the FIRST PARTY reserve the absolute the right of entry subject to prior notice into the tenanted premises to inspect the condition of the premises or for any other reasonable purpose/purposes.
- That the SECOND PARTY can take any such services like telephone, internet etc. at the premises in their name and will pay those monthly bills in time.
- That the SECOND PARTY shall be allowed to change or modify the interior decoration of them premises to meet their sitting arrangement at their own cost without causing any damage to the structural.
- That in case of dispute or difference, if any, arising between the parties the same shall be referred to an Arbitration to be agreed upon both the parties in writing and his decision shall be final and binding upon the parties.
- The either party shall have right to terminate this lease by giving the other party two (02) months notice in written.
In confirmation of all the terms and conditions as are hereinafter mentioned, both the parties put their representative signature below on the day month and year first above written.
Cont’d page- 04 Page-04 SCHEDULE OF PROPERTY:
Floor accommodation approximately 3,200 Sft. in the 1st floor (North-East side), Flat- 8/C (counting from the ground floor, same as the lift’s 1st stop) of the sixth storied building named Navan , House No. 18, Road No. 17, Gulshan-1, Dhaka1212.
Signed and delivered
In presence of the following Signature of the FIRST PARTY
Signature of the SECOND PARTY.