Lease License And Lease Financing Perpetual Lease Of A Land

Perpetual Lease of a Land

This Contract of Lease entered into on the_______day of_______between X son of_____r/o______(hereinafter called ‘first party) and Y s/o______r/o_________(hereinafter called the ‘second party’) witnesses as follows :-

1.     The first party hereby agrees to lease out the plot of land number ______ situated in ______in the District _______of__________, move precisely described in the schedule annexed herewith , to the second party from the date of this lease in perpetuity on payment of yearly rent of Rs__________payable in four quarterly installments of Rs________first installment failing due on_____day of_____month, second installment failing due on_____day of_____month, third installment failing due on_____day of_____month each year.

2.     The second party hereby agrees:-

                       i        to pay the rent hereby reserved in the manner hereinbefore started.

                      ii        To pay all rates, taxes and charges which are payable or may so become at a future date in respect of the said plot of land.

3.     Default in payment in two consecutive installments of rent shall entitle the first party to enter upon the said land and determine the lease.

IN WITNESS WHEREOF the first and second party have signed this contract on this day and year first above mentioned.

Signed by                                                                      Signed by

______                                                                    ______

1st party                                                                       2nd party

In the presence of                                                          In the presence of

______                                                                   ___________