Space in prime locations can be given for lease for advertisement purpose. The Companies are using the space to install billboard advertisements. Billboard advertisements are designed to catch a person's attention and create a memorable impression very quickly, leaving the reader thinking about the advertisement after they have driven past it. They have to be readable in a very short time because they are usually read while being passed at high speeds. Advertisements on billboards are free to passers by. They don't have to buy a newspaper or a cinema ticket in order to view your message. With more commuters on the roads than ever before, billboard advertising allows you to reach more people faster and cheaper than any other mass marketing media
Sample Format of Lease Deed for Advertisement Space is given below.
LEASE AGREEMENT OF SPACE FOR ADVERTISEMENT
This Deed Of Lease is made at ___________ this_____ day of___________between
Mr. ______________________ Son of Sh ______________________ Resident of ___________ ___________ hereinafter called 'the Lessor" of the One Part
M/s. ___________ Ltd., a Company registered under the Companies Act, 1956 having its registered office ___________ ___________ ___________ hereinafter called 'the Lessee" of the Other Part.
1. The Lessor is the owner of a plot of land with a building thereon situated at ___________ ___________and more particularly described in the Schedule hereunder written.
2. The Lessee has approached the Lessor with a request to allow the Lessee to put up a hoarding or poster at the eastern corner of the said plot fronting the public road and to grant a lease of a part of the said plot admeasuring about ___________ sq.ft. to enable the Lessee to put up one more or less permanent foundation, for putting up the hoarding or poster and which the Lessee has agreed to do on the following terms and conditions.
3. NOW THIS DEED WITNESSETH that pursuant to the said agreement and in consideration of the rent hereby reserved and of the covenants, terms and conditions hereinafter mentioned, the Lessor doth hereby demise a space or part of the plot of land described in the Schedule hereunder written and which space or part admeasures about ___________ sq. ft. as shown on the plan of the said plot hereto annexed and thereon delineated by a red boundary line (hereinafter referred to as 'the demised premises) unto the Lessee, its successors and assigns, for a term of 10 years, commencing from the date hereof but subject to the earlier determination of this demise as hereinafter provided and yielding and paying therefore during the said term the monthly ground rent of Rs ___________ free and clear of all deductions and strictly in advance on or before the ___ day of each and every calender month, the first of such monthly ground rent shall be paid on the ___ day of the next month (the rent from the date hereof upto the end of the current month having been paid on the execution of these presents and receipt whereof the Lessor doth hereby admit) and the subsequent rent to be paid on or before the ___ day of each and every succeeding month thereafter regularly during the subsistence of this lease.
AND the Lessee hereby covenants with the Lessor as follows:-
1. To pay the rent reserved hereby on the days hereinbefore mentioned regularly and punctually.
2. To pay all other charges by way of taxes or duties or otherwise in respect of the advertisement to be put upon the said demised premises and payable to the Municipal Corporation or any other local authority.
3. To observe all the rules and regulations of the Government or Municipal Corporation or other local authority relating to putting up-the hoarding/posters by way of advertisement in public view.
4. To keep the hoarding or poster and the foundation and wooden or steel frames supporting it in proper condition and repairs all the time.
5. Not to put up any advertisement this will be obnoxious or repulsive or indecent or defamatory of any person or otherwise.
6. Not to assign this lease and the premises to anybody by way of sale or mortgage or subletting or otherwise howsoever, without the consent in writing of the Lessor previously obtained and which the Lessor will be entitled to refuse without assigning any reason therefore.
7. If by any reason, like fire, wind or accident the hoarding or poster is damaged or collapses, to restore the same in order within two weeks from such damage or collapse at the Lessee's costs.
8. Not to use the demised premises for any purpose than the purpose of putting up a hoarding or poster by way of advertisement of any product or business of the Lessee.
9. Not to use the said hoarding or poster for supporting any candidate seeking election to any body, political or otherwise and for other political purposes.
10. On the expiration of the said term of the lease or earlier termination thereof to remove all construction put upon the demised premises and to hand over vacant possession thereof to the Lessor.
11. Not to sell or dispose of any earth, gravel stones or sand from the
demised premises and not to excavate the same except so far as may be necessary
for construction of the foundation for the hoarding.
12. Not to cause any nuisance or annoyance to the persons occupying the building on the land described in the Schedule hereunder written and not to put up any microphone or any other such device for playing of any kind of music or other sound. And the Lessor hereby covenants with the Lessee that -
(a) The Lessor has in himself good right, full power and absolute authority to demise unto the Lessee the demised premises.
(b) To pay all the land revenue and other taxes, cesses and dues and duties in respect of the said land and premises described in the Schedule hereunder written and payable to the Government or the Municipal Corporation or any other local authority.
(c) Not to put up any construction on the said land or extend the building thereon so as to close or prevent the view of the advertisement put up on the demised premises from public passing through the said public road adjoining the said land.
(d) On the Lessee paying the monthly rent regularly and observing and performing the covenants, terms and conditions herein contained and on the part of the Lessee to be observed and performed, the Lessee shall and may peaceably and quietly hold, possess and enjoy the demised premises for the purpose aforesaid, during the continuance of this lease, without any eviction, interruption or disturbance, claim or demand whatsoever by the Lessor or any person or persons lawfully or equitably claiming under him.
(e) And it is hereby agreed and declared that these presents are on the express understanding between the parties that if the said monthly rent or any part thereof payable in the manner hereinbefore mentioned shall be in arrears for the space of more than three months after the same shall have become due and payable on any of the days on which it ought to be paid as aforesaid, whether same shall have been demanded or not or if the Lessee commits breach of any other covenant term and condition herein contained and to be observed and performed by the Lessee or which is binding on him then in any of such events it shall be lawful for the Lessor or any person authorised by him in that behalf to enter into and upon the demised premises or any part thereof in the name of the whole and the same to have possess and enjoy the same and thereafter this demise shall come to an end or it shall be lawful for the Lessor to terminate this lease by giving to the Lessee a one month prior notice to that effect and on the expiration of the said period this Lease shall come to an end.
(f) And it is agreed and declared that on the expiration of the lease by efflux of time or otherwise the Lessee shall forthwith remove the hoarding or poster put up in the demised premises alongwith the foundation at the Lessee's costs and if the Lessee fails to do so within one month from the termination of the Lease the same shall stand forfeited to the Lessor and the Lessor will be entitled to remove the same and make such use thereof as he may think fit.
THE SCHEDULE ABOVE REFERRED TO
IN WITNESS WHEREOF the Lessor and the Lessee have put up their respective hands the day and year first hereinabove written.
Sub Lessor _____________
Sub Lessee ____________