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RENTAL AGREEMENT
THIS RENTAL AGREEMENT ("Agreement") is entered into this ________ day of ________, 20______ (the “Effective Date”), by and between ___________________________________ (hereinafter "Landlord"), and ___________________________________ (hereinafter "Tenant").
1. PREMISES: Landlord rents to Tenant and Tenant rents from Landlord, the premises located at __________________________________. The premises will be used for residential purposes only.
2. TERM: The initial term of this Lease is for ________, beginning on ____________ and ending on ____________. Thereafter, the Lease will continue on a month-to-month basis until either Landlord or Tenant terminate this Lease with written notice.
3. RENT: Tenant agrees to pay Landlord as base rent the sum of ________, payable and due on the 1st day of each calendar month.
4. SECURITY DEPOSIT: Upon the due execution of this Agreement, Tenant will deposit with Landlord the sum of ________ as security for Tenant’s faithful performance of the terms of this Lease.
5. MAINTENANCE AND REPAIR: Tenant will keep the premises in clean, sanitary, and good condition.
6. INSURANCE: Tenant is responsible for having sufficient insurance to cover all personal property located on the Property.
7. QUIET ENJOYMENT: Tenant shall conduct himself, and require other persons on the Premises with Tenant's consent, to conduct themselves in a manner that will not disturb others' peaceful enjoyment of the Premises.
8. DEFAULT: If Tenant fails to comply with any of the material provisions of this Agreement, or of any present rules and regulations governing the Premises, Landlord may terminate this Agreement upon providing proper notice to Tenant.
9. ABANDONMENT: If Tenant abandons the Premises or any of Tenant’s personal property during the term of this Agreement, Landlord may, at his option, enter the Premises by any lawful means without liability to Tenant.
10. PETS: No pets will be allowed on the Premises without the prior written consent of the Landlord.
11. INDEMNIFICATION: Landlord will not be liable for any damage or injury to Tenant, or any other person, or to any property, occurring on the Premises, or any part thereof, or in common areas thereof, unless such damage is the proximate result of the negligence or unlawful act of Landlord, his agents, or his employees.
12. DISPUTE RESOLUTION: All disputes under this Agreement that cannot be resolved by the Parties shall be submitted to arbitration under the rules and regulations of the Indian Arbitration and Conciliation Act, 1996.
13. GOVERNING LAW: This Agreement shall be governed by and construed in accordance with the laws of India.
14. ASSIGNMENT AND SUBLETTING: Tenant shall not assign this Agreement, or sublet or grant any concession or license to use the Property or any part thereof without Landlord's prior written consent.
15. ALTERATIONS AND IMPROVEMENTS: Tenant shall make no alterations to the buildings on the Premises or construct any building or make other improvements on the Premises without the prior written consent of Landlord.
16. DAMAGE TO PREMISES: In the event the Premises are destroyed or rendered wholly untenantable by fire, storm, or earthquake, or other casualty not caused by the negligence of Tenant, this Agreement shall terminate from such time except for the purpose of enforcing rights that may have then accrued hereunder.
17. INSPECTION: Landlord and Landlord's agents shall have the right at all reasonable times during the term of this Agreement and any renewal thereof to enter the Premises for the purpose of inspecting the Premises and all buildings and improvements thereon.
18. POSSESSION: Tenant shall vacate the Premises upon termination of the Agreement, unless Landlord and Tenant have in writing extended the time of possession or signed a new agreement.
19. SURRENDER OF PREMISES: Upon the expiration of the term hereof, Tenant shall surrender the Premises and all property of Landlord in a clean and good condition, ordinary wear and tear thereof excepted.
20. REPAIRS: Upon termination of this Agreement, all repairs required of the Tenant hereunder shall be made good to the satisfaction of the Landlord.
21. HOLDOVER: If Tenant maintains possession of the Premises for any period after the termination of this Agreement (“Holdover Period”), Tenant shall pay to Landlord lease payment(s) during the Holdover Period at a rate equal to the last monthly payment, or a pro rata thereof.
22. PRIOR AGREEMENTS: This Agreement contains all agreements of the parties with respect to any matter mentioned herein, and no prior agreement or understanding pertaining to any such matter shall be effective.
23. WAIVER: No failure of Landlord to enforce any term will be deemed a waiver.
24. MODIFICATION: Any modification to this Agreement must be in writing and signed by both parties.
25. BINDING EFFECT: The provisions of this Agreement shall be binding upon and inure to the benefit of both parties and their respective legal representatives, successors and assigns.
26. SEVERABILITY: If a Court finds any provision of this Agreement invalid or unenforceable, the remainder of this Agreement shall be interpreted so as best to effect the intent of the parties.
27. ENTIRE AGREEMENT: This Agreement constitutes the entire agreement between the parties and supersedes any prior understanding or representation of any kind preceding the date of this Agreement.
28. FORCE MAJEURE: No party shall be liable for any failure to perform its obligations where such failure is as a result of acts of nature (including fire, flood, earthquake, storm, hurricane or other natural disaster), war, invasion, act of foreign enemies, hostilities (whether war is declared or not), civil war, rebellion, revolution, insurrection, military or usurped power or confiscation, terrorist activities, nationalization, government sanction, blockage, embargo, labor dispute, strike, lockout or interruption or failure of electricity [or telephone service].
29. TIME OF ESSENCE: Time is of the essence in the performance of each and every obligation under this Agreement.
30. JOINT AND SEVERAL LIABILITY: Each Tenant is jointly and severally liable for the full performance of each provision in this Agreement.
LANDLORD:
______________________
Name
TENANT:
______________________
Name
This Agreement has been executed as of the Effective Date first above written.
NOTE: This is a standard rental agreement and may not be applicable or legal in all states or countries. You should consult with an attorney before using this agreement.