The Lessee shall register all changes in the possession of the whole of said land or of the building erected thereon whether by transfer, succession of otherwise in the register kept in the office of the local authority having jurisdiction in the are in which the said land is situated for his purpose within one calendar month from the respective dates of such changes (and if such changes are registered in the local sub-registry under the Indian Registration Act, 1908 within one calendar month from the date of registration in such sub-registry).
i) That all persons acting under the orders of Lessor shall be at liberty after due notice, at all reasonable time in the day time during the said terms to enter upon the said land or any building that may be that may be erected thereon for any purpose connected with the lease.
j) The Lessee shall not be entitled to alienate the land or sub-divide the land or the building erected thereon save and except for partition within family members noted in the enclosed schedule.
l) The Lessee shall have the right to mortgage or charge the lease-hold interest in the land and/or building to be erected thereon in favour of Life Insurance Corporation of India or any Nationalized or Scheduled Bank or Government or any Govt. Statutory Body or Govt. sponsored Financial Institution for the purpose of getting house building loans and for the purpose of better economic and physical improvement of the structures on the said land without any previous consent of the Government. The Lessee shall within 30 days of the date of execution of mortgage send an intimation to the Lessor in writing along with a certified copy of the mortgage deed.
Provided that in the event of the scale or fore-closure of the mortgaged or charged property, the Lessor shall be entitled to claim and recover fifty per cent of the sale price of the land and it shall be the first charge having priority over the said mortgage or charge.
The land as above shall mean and include only the land as allotted to the Lessee for residential purpose and it shall not mean and include any structures built or to be thereon, and for this purpose the Lessee shall not be required to pay to the Government any part of the sale-proceeds of any structures built on the land.
The Lessor doth hereby agree and covenant with the Lessee that upon the Lessee duly and punctually paying the rent aforesaid and observing, fulfilling and performing the terms covenants and conditions herein on his part contained the Lessee shall peacefully enjoy the said demise land without any interruption of the Lessor.
The Lessee and his successors and assignees shall on the determination of the lease on the expiry of the period of lease yield up he demise premises with all buildings erected thereon and Lessee’s fixtures thereto, provided that the Lessor shall pay to the Lessee the value of the said building and fixtures at the date of determination of the lease, such value to be determined in the absence of agreement by a sole arbitrator agreed upon by both the parties or in the absence of such agreement by tow arbitrators, one to be appointed by each party. The provisions of the Arbitration Act, 1940 and any statutory modification thereof shall apply such arbitrations.
i) That all persons acting under the orders of Lessor shall be at liberty after due notice, at all reasonable time in the day time during the said terms to enter upon the said land or any building that may be that may be erected thereon for any purpose connected with the lease.
j) The Lessee shall not be entitled to alienate the land or sub-divide the land or the building erected thereon save and except for partition within family members noted in the enclosed schedule.
l) The Lessee shall have the right to mortgage or charge the lease-hold interest in the land and/or building to be erected thereon in favour of Life Insurance Corporation of India or any Nationalized or Scheduled Bank or Government or any Govt. Statutory Body or Govt. sponsored Financial Institution for the purpose of getting house building loans and for the purpose of better economic and physical improvement of the structures on the said land without any previous consent of the Government. The Lessee shall within 30 days of the date of execution of mortgage send an intimation to the Lessor in writing along with a certified copy of the mortgage deed.
Provided that in the event of the scale or fore-closure of the mortgaged or charged property, the Lessor shall be entitled to claim and recover fifty per cent of the sale price of the land and it shall be the first charge having priority over the said mortgage or charge.
The land as above shall mean and include only the land as allotted to the Lessee for residential purpose and it shall not mean and include any structures built or to be thereon, and for this purpose the Lessee shall not be required to pay to the Government any part of the sale-proceeds of any structures built on the land.
The Lessor doth hereby agree and covenant with the Lessee that upon the Lessee duly and punctually paying the rent aforesaid and observing, fulfilling and performing the terms covenants and conditions herein on his part contained the Lessee shall peacefully enjoy the said demise land without any interruption of the Lessor.
The Lessee and his successors and assignees shall on the determination of the lease on the expiry of the period of lease yield up he demise premises with all buildings erected thereon and Lessee’s fixtures thereto, provided that the Lessor shall pay to the Lessee the value of the said building and fixtures at the date of determination of the lease, such value to be determined in the absence of agreement by a sole arbitrator agreed upon by both the parties or in the absence of such agreement by tow arbitrators, one to be appointed by each party. The provisions of the Arbitration Act, 1940 and any statutory modification thereof shall apply such arbitrations.
