Lease Agreement

THIS LEASE AGREEMENT is made and entered into [DATE], by and between [NAME],
whose address is [ADDRESS], (hereinafter referred to as "Landlord"), and [NAME], whose
address is [ADDRESS], (hereinafter referred to as "Tenant").

ARTICLE I - GRANT OF LEASE

Landlord, in consideration of the rents to be paid and the covenants and agreements to be
performed and observed by the Tenant, does hereby lease to the Tenant and the Tenant does
hereby lease and take from the Landlord the property described in Exhibit "A" attached hereto
and by reference made a part hereof (the "Leased Premises"), together with, as part of the parcel,
all improvements located thereon.

ARTICLE II - LEASE TERM

Section l. Total Term of Lease. The term of this Lease shall begin on the commencement date, as
defined in Section 2 of this Article II, and shall terminate on [DATE].

Section 2. Commencement Date. The "Commencement Date" shall mean the date on which the
Tenant shall commence to conduct business on the Leased Premised, so long as such date is not
in excess of sixty (60) days subsequent to execution hereof.

ARTICLE III - EXTENSIONS

The parties hereto may elect to extend this Agreement upon such terms and conditions as may be
agreed upon in writing and signed by the parties at the time of any such extension.

ARTICLE V - SECURITY DEPOSIT

The Tenant has deposited with the Landlord the sum of [AMOUNT] Dollars ($[#]) as security
for the full and faithful performance by the Tenant of all the terms of this lease required to be
performed by the Tenant. Such sum shall be returned to the Tenant after the expiration of this
lease, provided the Tenant has fully and faithfully carried out all of its terms. In the event of a
bona fide sale of the property of which the leased premises are a part, the Landlord shall have the
right to transfer the security to the purchaser to be held under the terms of this lease, and the
Landlord shall be released from all liability for the return of such security to the Tenant.
Rents by Lessor
Rental payments due under a valid lease are an asset to the property owner, and are his or hers to
sell, trade, or even give away.

They can also be used to satisfy a debt.

A lender gains an added measure of security when accepting lease payments as payment on debt
owned by a property owner. The assignment of rents could become the factor that makes the loan
possible when other requirements are marginal. Assigned lease payments go directly from the
tenant to the lender. Thus the lender has the added security of knowing that as long as rents are
paid in accordance with the lease, he will be paid as well.

An assignment could also be the factor that prevents foreclosure if the property owner has gotten
into financial difficulties.

The added security comes from the lender "owning" and directly receiving payments from the
lease in addition to the personal guarantee from the borrower.

The other reason to use Assignment of Rents by Lessor is to "sell" a set number of rental income
payments.

Why would you consider selling your rental income? To obtain an immediate lump sum of cash.
Perhaps you have come across another opportunity and need more money in order to take
advantage of it. For instance, you might need a down payment to purchase another rental
property.

Why would you consider purchasing someone else's rental payments? Because you have a large
sum of cash on hand and want it to earn money. You might negotiate a price that will bring you a
higher per cent return on your investment than you are getting in other places. Maybe you don't
trust the stock market but love real estate. Purchasing lease payments is a good way to earn real
estate income without the headache of being a landlord.

Verbal agreements indicate a high level of trust between the parties, and you may be tempted to
use one when dealing with a friend or relative. Reconsider. They are not only an unprofessional
way to conduct business; they are a highly effective way to end a friendship or business
relationship. The rights and obligations of each party may become fuzzy over time, and
misunderstandings due to faulty memory can escalate into bitterness or lawsuits. A lender
wouldn't consider conducting business without written agreements, and neither should you.

Instead, use the Assignment of Rents by Lessor form. It's fast, easy, free, and will clarify the
agreement between you.

This form clarifies the financial details as well as the duties of the property owner to continue his
or her responsibility to the tenants with regard to maintenance, etc. It also sets forth the property
owner's obligation of repayment to the lender or buyer should the tenant default on lease
payments.

Amenities
In real property and lodging, amenities are any tangible or intangible benefits of a property, especially
those that increase its attractiveness or value or that contribute to its comfort or convenience. Tangible
amenities might include attractive guest rooms (lodging), dining, parks, swimming pools, health club
facilities, party rooms, theater or media rooms, bike paths, community centers, services, or garages, for
example. Intangible amenities might include pleasant views, nearby activities, good schools (in the case
of residential real estate), or a low crime rate, all of which add to the desirability of a property.

Maintenance Charges
TDS
TDS is acronym for for tax deducted at source .It is different from tax paid at the time or filing return
since it is paid in the previous year itself.

How it is deducted?
Any income payable to the assessee shall be liable for deduction of tax at source by the person
responsible for making payment. TDS is deducted at prescribed rate as per the Finance Act of that year.
The amount which is deducted by anybody (Individual/Firm/Organisation) who is having a valid TAN
No. and have a valid contract with the assesse as per the rates defined by the finance ministry and the
amount is being credited in govt. a/c by the tax deductor and issue a TDS certificate to the assesse.

Who all have to pay TDS?

TDS is applicable on various types of transactions viz. Interest, Payment to Contractors, payment to
Consultants, Payment of Rent, Payment to Employees etc. The rate of TDS varies for each of the above
categories and the rate of TDS also varies on the constitution of the party we are dealing with (Corporate/
Non-corporate).

TDS is liable to be deducted only when the amount of payment exceeds minimum limit for TDS category
in one accounting year. Further in order to reduce hardship on smaller contractors a provision is made
under Income tax rules to levy reduced TDS rate for certain period on due authorized letter.

TDS rates has been proposed to be changed by Finance Minister in Budget 2009 .Basically following
changes has been done in the TDS rates effective from 01.10.2009
Basically following changes has been done in the TDS rates effective from 01.10.2009

 No surcharge and cess on tax deducted on non-salary payments made to resident

taxpayers. So now onwards tax should be deducted on Basic rate only given in respective
section. No education cess or Surcharge is to be deducted except in the case of salary
where Tax should be deducted after including the Education cess.Surcharge on individual
and HUF assessed has already been abolished for full year financial year 2009-10.

 Basic TDS rates for section 194 C (Payment to contractors) and 194I (payment of rent)
has been changed (given in table)
 Section 194C has been replaced with new section with less ambiguities.(details in coming
post )
 The rate of TDS will be 20 per cent in all cases, if PAN is not quoted by the deductee
w.e.f. 1.04.2010
Property Tax
Property by law is basically of two types: real and personal. Property tax is levied on both real
and personal property. Property tax assessment for both of these is different. Any property be it a
real or personal is further categorized according to its use.

Moreover for the Property tax purpose in India real property is taxed in the jurisdiction of its
location where as personal property can be taxed according to the jurisdiction or taxpayer's
resident. Although there are many other forms of taxes in India like Income Tax, Sales tax etc
yet the property tax is the single largest source of revenue for government. The tax paid by you is
utilized to make roads, sewer system, and maintenance of parks, do developments in
infrastructure et al. The owner of the property pays property tax and local bodies (local taxing
unit) levy tax on property. The local taxing unit is a legal body of government with elected
officers. Property tax rates are determined and these are based on the value of your property.

Property Tax Rates in India

For the purpose of Property tax assessment, property tax rate is often given in percentage, which
is amount of tax per hundred-currency unit of property value or it can also be expressed as
permille in which amount of tax per thousand currency unit of property value is calculated.
Whenever the value of property will change there will be change in property tax value.