FORMAT OF MOTOR VEHICLE LEASE DEED

MOTOR VEHICLE LEASE DEED

This Lease Deed of Motor Vehicle  is being executed at _____________ on this 16^th day of April, 2018,

BY/ BETWEEN

Name (UID No. __________), address and contact info of the Lessor, (hereinafter referred to as “the Lessor”, which expression, unless opposed or repugnant to the context, shall include & mean his respective Legal Heirs, Executors, Legal Representatives, Nominees, Successors, Administrators and Assignees in title) the party of the First Part

AND

Name (UID No. __________), address and contact info of the Lessee,  (hereinafter referred to as the “Lessee”, which expression, unless opposed or repugnant to the context, shall include & mean his respective Legal Heirs, Executors, Legal Representatives, Nominees, Successors, Administrators and Assignees in title) the party of the Second Part.

RECITALS:

1. Whereas the Lessor is the owner of a Motor Vehicle of the following description :                                                  a. Type of Motor Vehicle ______________,  b. Name of Manufacture ________, c. Year of Manufacture _________,d. Registration Number _____,e. Model _____,f. Chassis Number _____, g. Engine number _____, h. Color _____, i. Date of Purchase___________, j. Any Other Description________________.
2. Whereas the Lessor is the absolute owner if the abovesaid moter vehicle/bike.
3. Whereas the Lessor is desirous and offered of leasing the aforesaid vehicle on the terms and conditions herein contained to the lessee for commercial purpose.
4. Whereas the lessee is in need of the said vehicle for using for commercial purpose of providing online booking  to people through e-commerce websites like Ola, Uber, Baxi etc.
5. Whereas the Lessee approached to the lessor and agreed and accepted the offer of lease of the aforesaid vehicle on the terms and conditions herein contained & takes possession of abovesaid Vehicle. The Lessee will remain in full force and effect until Vehicle is returned to the Lessor or unless this Agreement is terminated earlier consistent with the terms herein.
6. Whereas the word “Vehicle” shall mean a “Motor Cycle or Bike” or as defined under the Motor Vehicles Act, 1988.

IN CONSIDERATION OF MUTUAL CONVENANTS AND TERMS AND CONDITIONS HEREINAFTER CONTAINED, THE FOLLOWING HAVE BEEN AGREED:

1.  That the vehicle is hereby leased to the lessee by the lessor at a monthly rate of Rs. _____/- (in words/-) payable on  ___ day of every month. In addition to monthly rent the lessee shall pay a deposit of Rs. ______/- (in words/-) at the time this Agreement is signed. The lessor may use the deposit to cover any amounts due under this Agreement.
2. That the agreement shall endure for a period of one year commencing on …….April, 2018 and shall then expire unless renewed by the mutual agreement of both the Parties.
3. That the Lessor hereby agrees to grant the Lessee exclusive use and possession & quiet possession of the said vehicle during the period of this agreement.
4. That the Lessor shall not assign or transfer its obligations and or rights under this Agreement to any third party, whether an associated entity or not, whether in whole or in part without the prior written consent of the Lessee.
5. That the Lessor shall immediately notify Lessee of any change of ownership or management of the said vehicle.
6. That the lessor will at all times retain ownership and title to the sais vehicle. The lessee will immediately notify lessor in the event vehicle is levied, has a lien attached or is threatened with seizure. The lessee will indemnify and hold Owner harmless against all loss and damages caused by such action. The vehicle will be deemed at all times to be personal property, whether or not it may be attached to any other property.
7. That the lessee will keep the vehicle comprehensively insured with a reputable and registered insurance company throughout the duration of this agreement of the said vehicle. The lessee will pay the whole premium to the insurance company as and when required.
8. That the lessee will be responsible for the upkeep, normal & timely service, repair, fair wear and tear, regular pollution checking of the said vehicle.
9. That the lessee will be responsible to bear and pay the whole expenses with regard to upkeeping, timely servicing expenses, repairing of damaged parts, insurance expense, expensed of replacing of tire and tubes, court costs, expensed of repairing/replacing of tire and tubes in case of puncture.
10. That the lessee will be responsible to pay for costs/expenses relating to fuel and oil topping up between services as well as any costs of parking fines and towing expenses for illegal parking.
11. That the lessee, in case of accident claim by complainant, will be liable to pay whole amount to the claimant/complainant or vice versa.
12. That in case of accident or damage, the lessee will inform within 24 hours term from the damage/the accident, but not later than the expiring term of the agreement, to the lessor about it, giving all the facts, circumstances and data (names of eye-witnesses, etc.). In connection with the accident, also to collaborate completely to the lesssor and the insurance company to make clearer the incident and the damages caused.
13. That the lessee will be liable for payment/indemnification of attorney’s fees and expenses of litigation in case of any litigation in the competent court.
14. Notwithstanding any other agreements, the lessee agrees to defend, hold harmless, and indemnify the lessor against any legal liability with respect to bodily injury, death, and property damage arising from the negligence of lessee during its use of the vehicle.
15. That the lessee will get replaced the damaged parts of the said vehicle with parts manufactured by the same manufacture on his own account and expense. The whole dainting and painting expenses of the said vehicle will be borne by the lessee on his own account.
16. That the lessee is to ensure that no alterations are made to the motor vehicle or any component removed unless it is immediately replaced by the same component or by one of the same like, make and model or an improved or advanced version.
17. That the lessee will be responsible to inform the police or concerned authority in case of loss or theft. The lessee will pay the amount of the vehicle as per Market rate to the lessor in case of loss or theft of the said vehicle or the lessee will provide a new vehicle to the lessor in the same situation.
18. That the lessee will use the said vehicle in a skilful and proper manner. The lessee must need to have a valid driving license issued by competent authority, safety shoes, ISO certified helmet, safety hand glows and the lessee will abide by the whole traffic rules. In case, the challans are charged on the said vehicle during agreement period, the lessee will pay the same challans to the concerned authority within specified time.
19. That the lessee will not drive the said vehicle drunk or after taking drugs or narcotics.
20. That the lessee will be responsible for payment of all taxes whether  commercial or of any kind, cess, rates, penalties levied/impossed by the State Government, Central Government, Local Authorities, Courts or of any kind of organisation, authority, body, department etc.
21. That the lessee is to report to the nearest Police and inform the Lessor within 24 (Twenty Four) hours of any incident, accident, damage to or loss of the vehicle.
22. That the lessee will abide by all the rules and regulation, terms and conditions of the e-commerce companies/websites.
23. That the lessee will not permit the said vehicle to be:- A. Driven by any person who is not an Authorized Driver under this Agreement; B. Operate the Vehicle or permit it to be operated in violation of law, including but not limited to driving under the influence of alcohol or drugs, or in breach of rules and regulations of road traffic; C. Operate the Vehicle or permit it to be operated to commit a violation of law; D. Operate the Vehicle or permit it to be operated for any race, test, or contest; E. Operate the Vehicle or permit it to be operated for the transport of more passengers or goods than the maximum allowable for the Vehicle or to carry hazardous or explosive substances of any kind; F. maintain or store the said vehicle t in a manner likely to cause damage to the said vehicle; H. Drive or permit the Vehicle to be driven or parked on roadways not regularly maintained, or on any roads, beach, driveway, or surface likely to cause damage to the Vehicle; I. Operate the Vehicle or allow it to be operated to push or tow any other vehicle.
24. That if the lessee fails to make any installment payment within 15 days of the due date, the lessee shall pay a surcharge of Rs.100/- (One Hundred/-)  per day for late payments.
25. That either party can terminate this Lease Deed either with one-month notice in advance or with payment of one-month in lieu thereof.
26. That the lessee will yield the said vehicle to the Lessor in good mechanical condition on the expiration of the agreement.
27. That the Lessee shall not be at liberty to under-lease / sub-lease the `said vehicle’ to any of his subsidiaries or to any other party without prior permission of the lessor.
28. That the lessee himself will be responsible for any misconduct, harassment, coercion complained the person who books the said vehicle.
29. That the lessee will return vehicle on the specified date on termination of agreement in between or after the period of agreement in the same condition as lessee received it, except for normal wear and tear. The lessee will return the vehicle to the agreed return location. If vehicle is not returned on said date and location, the lessor reserves the right to take any action necessary to regain possession of the vehicle.
30. No failure of Lessor to exercise or enforce any of its rights under this Agreement shall act as a waiver of subsequent breaches; and the waiver of any breach shall not act as a waiver of subsequent breaches. Lessor’s acceptance of payment with knowledge of a default by lessee shall not constitute a waiver of any breach.
31. That any dispute arising between the Parties shall be determined by a court of competent jurisdiction in Gurugram only and may upon agreement between the Parties be submitted for arbitration.
32. That both the parties have acknowledged, read over & understood all the contents of this agreement, and have signed the same without any force or pressure from any side.

IN WITNESS WHEREOF both the Parties to this Lease Deed have signed and executed this deed on the day, month and year first herein written above, in the presence of witnesses.

Witnesses:                                                                                           Executants (Signature)

1.……………………………                                                                                   First Party (Lessor)……………….

2.…………………………..                                                                                    Other Party (Lessee)…………..…