ADDENDUM TO LEASE — CHANGE OF AREA OR RENT
This Addendum is made at __________ on __________
BETWEEN
__________, of __________ (the "Lessor", which expression includes the Lessor's successors in title and permitted assigns);
AND
__________, of __________ (the "Lessee", which expression includes the Lessee's successors and permitted assigns).
The Lessor and the Lessee are together the "Parties" and each a "Party".
RECITALS
A. By a lease dated __________ (the "Lease"), the Lessor demised to the Lessee the premises described as: __________ (the "Premises"), situated within __________.
B. The Premises presently comprise __________ square feet, and the rent presently payable under the Lease is __________ __________. The Lease is subsisting and neither Party has served notice to determine it.
C. The Parties have agreed to vary the Lease as recorded in clause 2 below, and are executing this Addendum to record that variation, the date from which it takes effect, and to confirm that the Lease otherwise continues unchanged.
NOW THIS ADDENDUM WITNESSES as follows.
- DEFINITIONS AND INTERPRETATION
1.1 Words and expressions defined in the Lease have the same meaning in this Addendum unless this Addendum provides otherwise.
1.2 This Addendum is supplemental to the Lease and forms part of it. From the Effective Date, references in the Lease to "this Lease" are to be read as references to the Lease as varied by this Addendum.
1.3 "Effective Date" means __________. "Term" means the term of the Lease.
1.4 If there is any conflict between this Addendum and the Lease on the subject of the area of the Premises or the rent payable for them, this Addendum prevails. On every other subject, the Lease prevails.
- THE CHANGE
2.1 The Parties record that the change made by this Addendum is __________, with effect from the Effective Date.
- EVERYTHING ELSE UNCHANGED
3.1 Save for the change made by this Addendum, every term of the Lease continues in full force and is confirmed by both Parties. In particular, and without limiting the generality of that confirmation, the term, the lock-in period, the notice period, the permitted use, the maintenance and repair obligations, the insurance obligations, the assignment and sub-letting restrictions, and the dispute resolution provisions of the Lease are unaffected, except to the extent clause 2 expressly varies a sum calculated by reference to area or rent.
3.2 This Addendum does not extend or renew the Term, does not create a fresh lock-in period, and does not restart or extend any notice period. Where the Lease provides for a payment on early termination or on breach calculated by reference to rent or to area, that payment is calculated by reference to the Premises and the rent as varied by this Addendum for any period after the Effective Date, and by reference to the Premises and the rent under the Lease for any period before it.
3.3 Neither Party waives any right, claim or remedy accrued before the Effective Date. Neither the giving nor the taking of the varied area or the varied rent is a waiver of any subsisting breach. Where any sum has already been paid for a period after the Effective Date, calculated at the area or the rent that applied before this Addendum, the Parties shall adjust the difference between them within thirty days of the date of this Addendum.
3.4 This Addendum, together with the Lease, contains the whole agreement of the Parties on the area of the Premises and the rent payable for them, and supersedes any prior discussion, correspondence or understanding on that subject.
- STAMP DUTY AND REGISTRATION
4.1 The Parties acknowledge that this Addendum varies a term of the Lease and is chargeable with stamp duty in its own right. Where the Lease is registered, or is one the law requires to be registered, this Addendum requires registration under the Registration Act, 1908 to the same extent, and the Parties shall do everything necessary to have this Addendum duly stamped and, where required, registered, attending before the Sub-Registrar for that purpose within the time allowed by law.
4.2 The stamp duty, registration fee and incidental charges on this Addendum are borne by __________. Each Party bears its own legal costs.
4.3 Each Party shall produce the photographs and identification the Sub-Registrar requires and shall sign the register. A Party that is a company, limited liability partnership, trust or partnership firm shall produce the resolution or authority under which its signatory acts.
- NOTICES, ORIGINALS AND GOVERNING LAW
5.1 Notices under this Addendum are given in the manner the Lease provides for notices, to the addresses stated above or to such other address as a Party notifies in writing.
5.2 This Addendum is executed in two originals, one for each Party, together with such further copies as the Sub-Registrar requires.
5.3 This Addendum is governed by the laws of India. The courts at __________ have jurisdiction, subject to any arbitration or other dispute resolution provision in the Lease, which applies equally to disputes arising out of this Addendum.
IN WITNESS WHEREOF the Parties have signed this Addendum on the date first written above.
SIGNED for and on behalf of the LESSOR
__________
Signature: ______________________
Name: ______________________
Designation: ______________________
SIGNED for and on behalf of the LESSEE
__________
Signature: ______________________
Name: ______________________
Designation: ______________________
WITNESSES
- Signature: ______________________
Name: ______________________
Address: ______________________
- Signature: ______________________
Name: ______________________
Address: ______________________