Lease Deed for Advertisement Space

LEASE AGREEMENT FOR ADVERTISEMENT SPACE

This Deed of Lease is made at ____________ on this ____ day of ____________, 20____.

BETWEEN

Mr./Ms./M/s. ____________________________, son/daughter/spouse of / through its authorised representative ____________________________, residing at / having its office at ____________________________________________, hereinafter referred to as the "Lessor" (which expression shall, unless repugnant to the context, include the Lessor's heirs, legal representatives, successors and permitted assigns) of the First Part;

AND

M/s. ____________________________, a company incorporated under the Companies Act, 2013 or under previous company law, as applicable, having its registered office at ____________________________________________, acting through its authorised representative ____________________________, hereinafter referred to as the "Lessee" (which expression shall, unless repugnant to the context, include its successors and permitted assigns) of the Second Part.

RECITALS

A. The Lessor represents that the Lessor is lawfully entitled to grant the advertisement space forming part of the property situated at ____________________________________________ and more particularly described in the Schedule below.

B. The Lessee has requested the Lessor to grant a defined portion of the property admeasuring approximately ________ sq. ft./sq. m., shown in the site plan annexed to this Deed, for installation and display of one lawful billboard, hoarding, poster or other advertisement structure, subject to applicable approvals.

C. The parties have agreed to record the terms governing the use of the said space.

NOW THIS DEED WITNESSETH AS FOLLOWS

1. Grant and demised space. In consideration of the rent and covenants contained in this Deed, the Lessor grants to the Lessee the right to use and enjoy the advertisement space described in the Schedule and delineated in the annexed plan (the "Demised Space") solely for the permitted advertisement purpose stated below.

2. Term. The lease shall be for a term of ________ years/months commencing on ________ and ending on ________, unless terminated earlier in accordance with this Deed. Where registration is compulsory, the parties shall present the instrument for registration within the period prescribed by law.

3. Rent. The Lessee shall pay monthly rent of Rs. ________ (Rupees ____________________________ only), together with applicable taxes, if any, in advance on or before the ____ day of each calendar month by ________________.

4. Security deposit. The Lessee shall pay an interest-free refundable security deposit of Rs. ________, if agreed. Subject to lawful deductions for unpaid dues or damage attributable to the Lessee, the balance shall be refunded within ____ days after peaceful handover of the Demised Space.

5. Statutory permissions and advertisement charges. The Lessee shall, at its own cost, obtain and keep valid all licences, permissions, no-objection certificates and approvals required for the proposed advertisement and supporting structure from the competent municipal corporation, local body, development authority, road-owning agency, fire authority or other competent authority, as applicable. The Lessee shall pay advertisement tax, licence fee and other charges specifically attributable to its display unless otherwise agreed in writing.

6. Compliance with advertising law. The Lessee shall ensure that every advertisement displayed from the Demised Space is lawful and does not contain material prohibited by applicable statute, rule, regulation, court order, government direction or binding local advertising code. The Lessee shall be responsible for obtaining any sector-specific approval required for the advertised product or service.

7. Structural safety. The Lessee shall design, fabricate, install and maintain the hoarding, billboard, frame, illumination and foundation, if any, in a safe and workmanlike manner and in accordance with sanctioned specifications, structural-stability requirements and electrical/fire-safety norms applicable at the site. Where required, certificates shall be obtained from duly qualified professionals.

8. Maintenance and repair. The Lessee shall keep the advertisement structure, foundation, frame, electrical fittings and display surface in good condition. If the structure is damaged, unsafe or affected by fire, storm, wind, accident or other cause, the Lessee shall promptly secure the site and repair, replace or remove the structure as required by the competent authority and this Deed.

9. Insurance and indemnity. Where commercially appropriate or required by law, the Lessee shall maintain adequate public-liability and property-damage insurance for risks arising from installation, maintenance and display. The Lessee shall indemnify the Lessor against claims, penalties, losses or damage resulting from the Lessee's advertisement, structure, contractors or breach of applicable law, except to the extent caused by the Lessor's own breach, negligence or wilful misconduct.

10. Access. The Lessee and its authorised personnel may have reasonable access to the Demised Space for installation, inspection, replacement, maintenance and removal of the advertisement, subject to reasonable security and access procedures of the property.

11. No nuisance or obstruction. The Lessee shall not use loudspeakers, microphones or other sound-emitting devices from the Demised Space without lawful permission and shall not cause unreasonable nuisance, obstruction, glare, danger or interference with occupants, neighbours, traffic or public safety.

12. Restricted excavation and alteration. The Lessee shall not remove earth, gravel, stone or other material from the property and shall not excavate or alter the property except to the minimum extent approved for the advertisement foundation or mounting system.

13. Assignment and subletting. The Lessee shall not assign, transfer, mortgage, sublet or otherwise part with possession or control of the Demised Space without the Lessor's prior written consent, except where this Deed expressly permits otherwise.

14. Lessor's title and quiet enjoyment. The Lessor represents that the Lessor has the lawful right to grant the Demised Space. So long as the Lessee pays the rent and complies with this Deed, the Lessee may use the Demised Space for the permitted purpose without unlawful interruption by the Lessor or persons claiming through the Lessor.

15. Property outgoings. Except for charges specifically arising from the advertisement or the Lessee's use, ordinary ownership-related land revenue, property tax and dues relating to the underlying property shall be borne by the Lessor unless otherwise agreed or required by law.

16. Visibility. Subject to the Lessor's lawful use, development rights, statutory approvals and safety requirements, the Lessor shall not deliberately erect a temporary obstruction solely for the purpose of defeating the Lessee's agreed display visibility.

17. Default and cure. If rent remains unpaid for more than ____ days after written notice, or if either party commits a material breach and fails to cure it within ____ days after receipt of written notice where the breach is capable of cure, the non-defaulting party may exercise the termination rights available under this Deed and applicable law.

18. Regulatory removal. If any competent authority lawfully prohibits, seals, removes or requires discontinuance of the advertisement or structure, the parties shall comply immediately. Allocation of rent, removal cost and consequences of such regulatory action shall be determined according to responsibility for the cause and the terms agreed by the parties.

19. Termination. In addition to termination for material default, either party may terminate this lease by giving ____ months' prior written notice if such right is expressly intended by the parties and is consistent with the fixed term and applicable law.

20. Removal and restoration. On expiry or earlier termination, the Lessee shall remove its advertisement, frame, fixtures and foundation to the extent required, restore the affected portion of the property to a reasonably safe condition, remove debris and hand back peaceful possession of the Demised Space, subject to normal wear and any written agreement to retain improvements.

21. Force majeure. Neither party shall be liable for delay in performance caused by an event beyond its reasonable control to the extent performance is prevented, provided the affected party promptly informs the other and takes reasonable steps to mitigate the effect. Payment obligations already accrued shall not automatically be waived.

22. Notices. Notices under this Deed shall be in writing and delivered by hand, registered/speed post, recognised courier or electronically where legally permissible, to the addresses stated above or to any substituted address notified in writing.

23. Stamp duty and registration. The parties shall pay stamp duty and registration charges in the proportion required by applicable State law or, where the law permits allocation by agreement, in the following proportion: ____________________________. Nothing in this clause overrides a statutory liability imposed on a particular party.

24. Governing law and dispute resolution. This Deed shall be governed by the laws applicable in India and the State/Union Territory where the property is situated. Subject to any valid arbitration agreement written below and mandatory jurisdictional rules, courts having territorial and subject-matter jurisdiction over the property or dispute shall have jurisdiction.

Optional arbitration clause: Any dispute arising from this Deed that the parties have agreed may be arbitrated shall be referred to a sole arbitrator mutually appointed in accordance with the Arbitration and Conciliation Act, 1996. The seat/place of arbitration shall be ________ and the proceedings shall be conducted in ________.

25. Entire agreement and amendments. This Deed, its Schedule and annexures constitute the agreement concerning the Demised Space. Any amendment shall be made in writing and executed in the manner required by law.

IN WITNESS WHEREOF, the parties have executed this Lease Deed on the date and place first written above.