LEAVE AND LICENSE AGREEMENT

This Articles of Agreement for LEAVE AND LICENSE is made and entered into at Mira Road, THIS _____________DAY _____________2013

BETWEEN

MR.MAHESH.R.SHETE (HUF) Adult, Indian Inhabitant having address at 1401,solitaire,N.I.Complex,Dahisar(East),Mumbai400068 hereinafter for brevity sake referred to as "THE LICENSOR"(which expression shall unless it be otherwise repugnant to the context or meaning there of be deemed to mean and include his legal heirs, executors, administrators and assigns OF THE FIRST PART

AND

MR.BADRINATH SHETTY Adult, Indian Inhabitant having address at C504, Vaikunth CHS Ltd. Plot No.73, 74 & 75 Sector 19', Kamothe, Navi Mumbai-410209 hereinafter for brevity sake referred to as "THE LICENSEE"(which expression shall unless it be otherwise repugnant to the context or meaning there of be deemed to mean and include his legal heirs, executors, administrators and assigns of" THE SECOND PART.

WHEREAS, THE LICENSOR is the absolute owner, fully seized and possessed and well sufficiently entitled to the premises being SHEDED LAND, this hereinafter referred to as" THE SAID SHEDED LAND".

THE SAID SHEDED LAND being SHEDED LAND admeasuring area 200 SQ. MTS. out of SQ. MTS. ON THE GROUNBD FLOOR situated at SURVEY NO.40,HISSA NO.1(P),VILLAGE : VERSOVA,OPP:WELKAR PETROL PUMP,WESTERN EXPRESS HIGHWAY,NEAR SHELTER HOTEL ,MIRA ROAD (EAST),THANE-401104 situated at Village: Varsave

WHEREAS, THE SAID SHEDED LAND is vacant THE LICENSEE being in need of THE SAID SHEDED LAND for the temporary period of FIVE YEARS for COMMERCIAL purpose approached THE LICENSOR and requested THE LICENSOR to grant to THE LICENSEE,LEAVE AND LICENSE in respect of THE SAID SHEDED LAND for use, occupation and enjoyment by THE LICENSEE,LEAVE AND LICENSE basis THE SAID SHEDED LAND for the temporary period of FIVE YEARS whereas after various meetings and negotiations between both the parties hereto are desirous of recording the terms and conditions agreed by between them in manner hereinafter.

NOW THIS AGREEMENT FOR LEAVE AND LICENSE WITHNESSETH AND IT IS HEREBY MUTUALLY AGREED,DECLARED,CONFIRMED AND RECORDED BY BETWEEN THE PARTIES HERE TO AS UNDER.

THE LICENSOR hereby grants to THE LICENSEE and THE LICENSEE hereby accepts from THE LICENSOR uninterrupted LEAVE AND LICENSE to the use, occupation and enjoyment of THE SAID SHEDED LAND for the period of FIVE YEARS COMMENCING FROM 1ST DAY OF MAY-2013 AND ENDING WITH 30th DAY OF APRIL-2018 subject to the performance ,compliance, covenants herein after contained to be observed by THE LICENSEE.

1) FOR THE FIRST TERM OF ONE YEAR COMMENCING FROM 1st DAY OF MAY-2013 AND ENDING WITH 30th DAY OF APRIL-2014,THE LICENSEE herby paid to THE LICENSOR THE MONTHLY LICENSE FEE OF RS.20,000/=(RUPEES TWENTY THOUSAND ONLY) inclusive of only Property Taxes, Maintenance Charges etc. but excluding Advertising Charges, VAT, Sales Tax ,Excise Duty, Parking Charges, Telephone Charges and Electricity Charges etc. by Cash/Cheque, if Cheque, it has been mutually agreed that Every Year 12 Post Dated Cheques will be paid by THE LICENSEE in advance.

FOR THE SECOND TERM OF ONE YEAR COMMENCING FROM 1st DAY OF MAY-2014 AND ENDING WITH 30th DAY OF APRIL-2015,THE LICENSEE herby paid to THE LICENSOR THE MONTHLY LICENSE FEE OF RS.22,000/=(RUPEES TWENTY TWO THOUSAND ONLY) inclusive of only Property Taxes, Maintenance Charges etc .but excluding Advertising Charges, VAT, Sales Tax, Excise Duty, Parking Charges, Telephone Charges and Electricity Charges etc. by Cash/Cheque, if Cheque it has been mutually agreed that Every Year 12 Post Dated Cheques will be paid by THE LICENSEE in advance.

FOR THE THIRD TERM OF ONE YEAR COMMENCING FROM 1st DAY OF MAY-2015 AND ENDING WITH 30th DAY OF APRIL-2016,THE LICENSEE herby paid to THE LICENSOR THE MONTHLY LICENSE FEE OF RS.24,200/=(RUPEES TWENTY FOUR THOUSAND TWO HUNDRED ONLY) inclusive of only Property Taxes, Maintenance Charges etc. but excluding Advertising Charges, VAT, Sales Tax, Excise Duty, Parking Charges, Telephone Charges and Electricity Charges etc. by Cash/Cheque,if Cheque,it has been mutually agreed that Every Year 12 Post Dated Cheques will be paid by THE LICENSEE in advance.

FOR THE FOURTH TERM OF ONE YEAR COMMENCING FROM 1st DAY OF MAY-2016 AND ENDING WITH 30th DAY OF APRIL-2017,THE LICENSEE herby paid to THE LICENSOR THE MONTHLY LICENSE FEE OF RS.26,620/=(RUPEES TWENTY SIX THOUSAND SIX HUNDRED AND TWENTY ONLY) inclusive of only Property Taxes, Maintenance Charges etc. but excluding Advertising Charges, VAT, Sales Tax, Excise Duty, Parking Charges, Telephone Charges and Electricity Charges etc. by Cash/Cheque, if Cheque, it has been mutually agreed that Every Year 12 Post Dated Cheques will be paid by THE LICENSEE in advance.

FOR THE FIFTH TERM OF ONE YEAR COMMENCING FROM 1st DAY OF MAY-2017 AND ENDING WITH 30th DAY OF APRIL-2018,THE LICENSEE herby paid to THE LICENSOR THE MONTHLY LICENSE FEE OF RS.29,282/=(RUPEES TWENTY NINE THOUSAND TWO HUNDRED AND EIGHTY TWO ONLY) inclusive of only Property Taxes, Maintenance Charges etc. but excluding Advertising Charges, VAT, Sales Tax, Excise Duty, Parking Charges, Telephone Charges and Electricity Charges etc. by Cash/Cheque, if Cheque, it has been mutually agreed that Every Year 12 Post Dated Cheques will be paid by THE LICENSEE in advance.

2) For the duration of the term-referred here in above THE LICENSEE shall pay to THE LICENSOR the sum of RS.1,00,000/=(RUPEES ONE LAKH ONLY) being an INTEREST FREE SECURITY DEPOSIT by Cash/Cheque for due purpose observance and performance of terms and conditions contained therein which shall be refunded by THE LICENSOR to THE LICENSEE without any Interest on expiry of this Agreement and removing all his articles, belongings from THE SAID SHEDED LAND on or before termination of the Agreement after adjustment of MONTHLY LICENSE FEE,ELECTRICITY CHARGES,ANY OTHER DUES,PENALITIES, if any found due, If Electricity /Telephone bills are not received till the time of vacant of THE SAID SHEDED LAND the substantial amount will be retain till they said bills received.

3)THE LICENSEE shall not claim or put forth any right, title or interest much less tenancy right and except mere license and that is too for the limited period of FIVE YEARS only which is terminable by THE LICENSOR on committing breach or breaches of any of the terms & conditions of these present by THE LICENSOR.

4)THE LICENSEE shall not SELL;PART WITH MORTGAGE CHARGE DISPOSE OFF, or TO DEAL SUB-LET or grant of LEAVE AND LICENSE or TO CREATE ANY RIGHT or ENCUMBRANCES in respect of THE SAID SHEDED LAND or PART THEREOF in manner whatsoever.

5)THE LICENSEE shall not make any CONSTRUCTION,STRUCTURAL CHANGES,ADDITIONS,ALTERATIONS and VARIATIONS in THE SAID SHEDED LAND and also will not change LOCK or LOCKING DEVICES of THE SAID SHEDED LAND without the consent of THE LICENSOR.

6)THE LICENSEE shall not permit or do or suffer to be done on THE SAID SHEDED LAND or ANY PART THEREOF anything that may become NUISANCE, ANNOYANCE, and OBSTRUCTIONS OR INJURIOUS OR OFFENSIVE TO THE LICENSOR, neighboring owners, tenants and the occupiers of the other premises.

7)THE LICENSEE shall use and occupy THE SAID SHEDED LAND for COMMERCIAL purpose only for himself and his family and shall not MISUSE or carryout any ILLEGAL or IMMORAL purpose prohibited by the LOCAL /MUNCIPAL AUTHORITIES.

8)THE LICENSEE hereby agree that he shall not make RATION CARDS,PASSPORT(S),CREDIT CARDS,GAS CONNECTIONS & TELEPHONE CONNECTIONS at the address of THE SAID SHEDED LAND without the prior permission in writing from THE LICENSOR on the strength of this Agreement but THE LICENSEE shall obtain SALES TAX LICENSE, and POLLUTION LICENSE at his own cost and risk and THE LICENSOR shall has no objection for that.

9)THE LICENSOR AND THE LICENSEE agreed that if either party desires to terminate this agreement prior to expiry it will be lawful on ly giving ONE MONTH prior notice to the other party about their intention to do so. But if any breach of the convents on the part of THE LICENSEE is committed then in such case it shall be LAW full for THE LICENSOR at any time thereafter upon giving ONE MONTH NOTICE in writing in that behalf to re-enter into THE SAID SHEDED LAND.

10)THE LICENSEE shall be entitled to bring in and/or install at its own costs, all furniture ,fixture and fittings (built in and/or removable) in THE SAID SHEDED LAND and THE LICENSEE shall be entitled to remove and take away such furniture, fixture and fittings brought in or installed by it

PROVIDED THAT when THE LICENSEE vacate THE SAID SHEDED LAND ,THE LICENSEE shall restore THE SAID SHEDED LAND to its original condition.(Normal wears and tears accepted) making good any damage caused by removal of such furniture, fixtures and/or fittings or otherwise.

11)THE LICENSEE any insure all equipment, fittings etc. Belonging to THE LICENSEE or over which THE LICENSEE has control or under the use of THE LICENSEE with the insurance company/companies of its choice against all risks, including but not limited to theft and fire. THE LICENSOR shall be in no way responsible for the same at any given time.

12)THE LICENSOR shall not be responsible in the event of THE SAID SHEDED LAND or THE BUILDING being destroyed or damaged by pulling down the wall or floor whether by fire, leakage, accidents, rains, white-ants or any explosion or bursting or any water or gas pipe line or electric installations or short circuits.

13)On the expiration of the term here in reserved or its early determination to quit, vacate and handover to THE LICENSOR vacant and peaceful possession of THE SAID SHEDED LAND in the condition in which it was received except for the normal wear tear which is expected and after removing there from but without in any manner damaging THE SAID SHEDED LAND or any part thereof all the furniture ,fixture and fittings and belongings of THE LICENSEE.

14)THE LICENSORS shall have the right to enter THE SAID SHEDED LAND and inspect THE SAID SHEDED LAND given to THE LICENSEE on leave & license basis for the COMMERCIAL purpose at any time. THE LICENSEE hereby undertakes to hand over the KEYS of THE SAID SHEDED LAND which is in THE LICENSEE'S possession at the time of termination of this agreement.

15)It is further agreed that if THE LICENSEE does not vacate THE SAID SHEDED LAND on determination/termination of the term mentioned in the Leave & License Agreement whichever maybe the case, THE LICENSOR shall entitled to charge Penalty of Rs.2,000/= Per Day until the vacant possession of THE SAID SHEDED LAND handed over to THE LICENSOR and is hereby also authorized by THE LICENSEE to remove all THE LICENSEE'S articles, belongings & things and keep the same outside THE SAID SHEDED LAND without being responsible for any loss, damages, theft caused to THE LICENSEE'S articles, belongings & things .It shall lawfully for THE LICENSOR to restrain THE LICENSEE from entering in THE SAID SHEDED LAND.

16)THE LICENSEE shall not claim any amount of compensation from THE LICENSORS towards such fittings and/or removed at the same.

17)THE LICENSEE shall on expire of period of this Leave & License Agreement or/on early revocation on/or vacation of THE SAID SHEDED LAND remove himself together with all the all articles, belongings & things and handover THE SAID SHEDED LAND ,fittings , fixtures, fixed things peacefully and without any let or hindrance on taking over THE SAID SHEDED LAND .On taking over THE SAID SHEDED LAND,THE LICENSOR returned the Security Deposit to THE LICENSEE after deducting Outstanding, Compensation if any beside the Monetary Loss suffered by THE LICENSOR on account of any Loss ,Damages to THE SAID SHEDED LAND, fittings & fixtures therein.

18)THE LICENSEE hereby agreed that if this Leave & License Agreement will be renewed it will be renewed for further period of maximum four times only and at that time THE MONTHLY LICENSE FEE of present will be increased by 10% by each term.

IN WITNESS WHEREOF THE PARTIES HERETO HAVE HEREUNTO SET AND SUBSCRIBED THEIR RESPECTIVE HANDS AND SEALS HEREOF THE DAY YEAR FIRST HEREIN ABOVE WRITTEN.

SIGNED SEALED AND DELIVERED

by the within named THE LICENSOR

MR.MAHESH R.SHETE(HUF)

) __________

In the presences of _____________________

SIGNED SEALED AND DELIVERED

by the within named THE LICENSEE

MR.BADRINATH SHETTY

) __________

In the presences of _____________________

RECEIPT
RECEIVED on/or before execution hereof and from the within named LICENSEE the sum of RS.1,00,000/=(RUPEES ONE LAKH ONLY) being INTEREST FREE SECURITY DEPOSIT for due and proper performance of all terms and conditions of these presents and paid to me in the following manner :

RS.___________________ /=Cash/Cheque/PO/DD NO._________ Dated _____________

Drawn on __________________________________________

RS.___________________ /=Cash/Cheque/PO/DD NO._________ Dated _____________

Drawn on __________________________________________

*(Subject to Realization)

I, SAY RECEIVED RS.1,00,000/=

MR.MAHESH R.SHETE (HUF)

The LIcensor

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Receipt for Monthly Rent/Compensation

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