STORAGE AGREEMENT

This STORAGE AGREEMENT (hereinafter referred to as “the Agreement”) is made on [INSERT DATE ON WHICH THE AGREEMENT COMES INTO FORCE] hereinafter referred as the “Effective Date”) between:

[INSERT NAME OF THE OWNER], having registered office at [INSERT ADDRESS OF THE OWNER] (hereinafter referred as the “Owner” which expression shall, unless repugnant to the context or meaning thereof, means and includes its legal representatives, executors, administrators and permitted assigns); And

[INSERT NAME OF THE CLIENT], having registered office at [INSERT ADDRESS OF THE CLIENT] (hereinafter referred as the “Client” which expression shall, unless repugnant to the context or meaning thereof, means and includes its legal representatives, executors, administrators and permitted assigns);

The “Owner” and the “Client” shall be collectively referred as “Parties” and individually as “Party”.

WHEREAS

1. The Owner operates a storage facility (“Facility”) at [INSERT ADDRESS OF THE FACILITY], where it provides storage services to clients.
2. The Client desires to store certain property (“Property”) at the Facility under the terms and conditions set forth herein.;
3. The parties wish to enter into contract in writing.

NOW, THEREFORE IN CONSIDERATION OF THE MUTUAL PROMISES, THE PARTIES HERETOAGREE AS FOLLOWS:

1. SCOPE OF SERVICES
   1. The Owner shall provide storage services to Client for the Property at the Facility in accordance with the terms of this Agreement. Client shall have access to the Property during normal business hours of the Facility.
2. PROPERTY
   1. The Property to be stored by Client at the Facility shall be [INSERT THE NAME OF THE PROPERTY].
3. TERM
   1. The Parties agree that present Agreement shall be in force from the [INSERT TERM OF THE AGREEMENT] unless terminated by either of the parties in accordance of the present Agreement.
4. RENT
   1. The Client shall pay rent to the Owner for the storage of the Property at the Facility in the amount of [INSERT RENT AMOUNT PAYABLE TO THE OWNER] per [INSERT PAYMENT SCHEDULE].Rent shall be due and payable in advance on the [INSERT DUE DATE] of each month. In the event of late payment, Owner may assess a late fee of [INSERT LATE FEE AMOUNT] per [INSERT LATE FEE TIME PERIOD].
5. SECURITY DEPOSIT
   1. The Client shall provide a security deposit in the amount of [INSERT SECURITY DEPOSIT AMOUNT] to the Owner upon execution of this Agreement. The security deposit shall be refundable at the termination of this Agreement subject to any deductions for damages to the Facility or unpaid rent.
6. INSURANCE
   1. The Client shall maintain insurance covering the Property stored at the Facility against loss or damage. Owner shall not be liable for any loss or damage to the Property stored at the Facility.
7. RELATIONSHIP OF PARTIES
   1. Nothing contained in this Agreement shall create an employer and employee relationship, a master and servant relationship, or a principal and agent relationship between the parties.
8. ASSIGNMENT
   1. The parties shall not assign any rights under the present Agreement to any other party without the mutual written consent of the parties. Subject to the foregoing, this Contract will be binding upon the Parties’ heirs, executors, successors and assigns.
9. REPRESENTATION AND WARRANTIES
   1. The parties represent and warrants that they have full power and authority to enter into this Agreement including all rights necessary to make the foregoing assignments to each other.
   2. The parties represent and warrants that in performing under the Agreement it will not violate the terms of any agreement with any third party.
10. DEFAULTS, REMEDIES AND TERMINATION
    1. Events of Default: Each of the following shall constitute an Event of Default under this Agreement:
       1. Material Breach- Either party fail in any material respect to comply with, observe, or perform, or shall default in any material respect in the performance of, the terms and conditions of this Agreement.
       2. Material Misrepresentation- Any representation made by either party hereunder shall be false or incorrect in any material respect when made or is false in any material respect at any point in time.
    2. Remedies for Default: Except to the extent more limited rights are provided elsewhere in this Agreement, if an Event of Default occurs as defined above the non-defaulting Party shall provide the defaulting Party with notice of the Event of Default. Following receipt of a notice of an Event of Default, the defaulting Party shall have [INSERT DAYS FOR CURING THE DEFAULT] days to cure such Event of Default after receipt of notice thereof from the other Party, provided that if such failure is not capable of being cured within such [INSERT DAYS IN WHICH DEFAULT IS TO BE CURED] day period with the exercise of reasonable diligence, then such cure period shall be extended for an additional reasonable period of time, not to exceed [INSERT EXTENDED CURE PERIOD] days, so long as the defaulting Party is exercising reasonable diligence to cure such failure.
    3. Termination for Default: Either Party shall have the right to immediately terminate this Agreement for an Event of Default as defined above. If the required notice under was given for an Event of Default as defined in section 10.2 of this agreement and the Event of Default is not cured by the expiration of the corresponding period for cure provided above, the Party not in default, by notice in writing to the defaulting Party, may, in addition to any other rights and remedies available to it under this Agreement, terminate this Agreement and/or any Statement of Work upon at least [INSERT DAYS FOR NOTICE] days prior written notice to the defaulting Party. Upon termination of this Agreement and/or any Statement of Work, all rights and obligations hereunder shall terminate, and neither Party shall have any further obligation or liability hereunder to the other Party, except for liabilities that are incurred prior to or upon termination and any other rights, obligations, or liabilities that which, by their nature, are intended to survive termination of the Agreement and/or any Statement of Work.
    4. Termination for No Default:
    5. Either party may forthwith terminate this agreement with [INSERT DAYS FOR NOTICE OF TERMINATION] days prior written notice to the other.
11. LIMITATION OF LIABILITY
    1. Owner shall not be liable to Client for any loss or damage to the Property stored at the Facility, except to the extent caused by Owner’s gross negligence or willful misconduct.
12. SEVERABILITY
    1. If any term, covenant, condition or provision of this Agreement is held by a court of competent jurisdiction to be invalid, void or unenforceable, it is the Parties intent that such provision be reduced in scope by the court only to the extent deemed necessary by that court to render the provision reasonable and enforceable and the remainder of the provisions of this Agreement shall in no way be affected, impaired or invalidated as a result.
13. INDEMNIFICATION
    1. Parties shall be indemnified and held harmless by the other party from and against any and all claims of any nature, whatsoever, arising out of other Party's performance. A Party shall not be entitled to indemnification under this section for liability arising out of gross negligence or willful misconduct of the Party or the breach by the Party of any provisions of this Agreement.
14. SEVERABILITY
    1. If any clause or section of the present debenture agreement is found to be unenforceable or unlawful, the rest of the provisions shall continue to be in force unless the arbitrator or competent courts order otherwise
15. FORCE MAJEURE
    1. Neither party shall be held liable for any failure or delay in performing its obligations under this Agreement if such failure or delay is caused by events beyond the reasonable control of the affected party, including but not limited to acts of God, natural disasters (e.g., floods, earthquakes, hurricanes), war, terrorism, riots, labour strikes, governmental actions, epidemics or pandemics, power outages, or other similar events ("Force Majeure Events").The affected party shall promptly notify the other party in writing of the occurrence of a Force Majeure Event, providing reasonable details of the event, its expected duration, and the steps being taken to mitigate its impact. Failure to provide timely notice may result in the affected party forfeiting its rights under this clause. If a Force Majeure Event continues for a period exceeding [INSERT THE NUMBER OF DAYS CONSTITUTING PERIOD EXCEEDING WHICH, IF THE FORCE MAJEURE CONTINUES, EITHER PARTY MAY TERMINATE THE AGREEMENT] days, either party may terminate this Agreement upon written notice to the other party without further liability, except for obligations accrued prior to the Force Majeure Event.
16. DISPUTE RESOLUTION
    1. The Parties shall endeavor to resolve any differences of opinion which may arise between them with respect to the provisions of this Agreement by negotiation between themselves personally or with the assistance of their attorneys and unless in the opinion of any party, acting reasonably, the matter in dispute is of such significant nature to warrant it being addressed otherwise, no party shall commence any public proceedings until the negotiations have failed to produce a resolution. In furtherance of the provisions of this paragraph, all Parties hereby agree to make themselves available on short notice and to negotiate promptly and in good faith, any matter any party may wish to negotiate.
    2. All disputes arising under this agreement shall be governed by and interpreted in accordance with the Arbitration laws of [INSERT COUNTRY/STATE OF ARBITRATION] , without regard to principles of conflict of laws. The parties to this agreement will submit all disputes arising under this Agreement to Arbitration in [INSERT COUNTRY/STATE OF ARBITRATION] before a single arbitrator . The arbitrator shall be selected by mutual agreement of the parties. The venue of Arbitration proceedings shall be [INSERT NAME OF COUNTRY AND CITY WHERE ARBITRATION SHALL BE CONDUCTED] No party to this agreement will challenge the jurisdiction or venue provisions as provided in this section. The decision of the Arbitrator shall be final and binding upon the parties.
17. GOVERNING LAW AND JURISDICTION
    1. The terms of this Agreement shall be governed and construed in accordance with the laws of [INSERT APPLICABLE STATE/COUNTRY]. In regard to any disputes or disagreement arising under the Agreement, the parties shall submit to the exclusive jurisdiction of [INSERT THE PLACE OF THE COURT WHICH SHALL HAVE EXCLUSIVE JURISDICTION IN CASE OF DISAGREEMENTS].
18. NOTICES
    1. Any notice or communication under or in connection with this Agreement shall be in writing and may be delivered personally or by post or facsimile to the addresses given in this Agreement or may also be delivered via electronic mail specified by the Parties. The Electronic Signatures shall be acknowledged as valid signatures for all the purposes of this Agreement.
       1. OWNER: [INSERT THE EMAIL ID OR/AND ADDRESS OF OWNER]
       2. CLIENT: [INSERT THE EMAIL ID OR/AND ADDRESS OF CLIENT]
19. ENTIRE AGREEMENT
    1. This agreement constitutes the entire understanding and agreement of the parties with respect to its subject matter and supersedes all prior and contemporaneous agreements or understandings, inducements or conditions, express or implied, written or oral, between the parties.
    2. No amendments and/or modifications to this agreement shall be valid unless executed in writing and signed by both parties.
20. DECLARATION
    1. The parties hereby understand and expressly agree to the provisions laid down in the present agreement and in good faith, undertake that both parties shall follow the terms of this agreement in good conscience in order to secure better growth of both the Parties.

IN WITNESS WHEREOF, the parties, intending to be legally bound, have each executed this agreement as of the effective date.

Signed, sealed and delivered on behalf of the Owner:

Name: [INSERT NAME OF THE OWNER/SIGNING AUTHORITY AND DESIGNATION]

Signature:

Date: [INSERT SIGNING DATE OF THE OWNER]

Signed, sealed and delivered on behalf of the Client:

Name: [INSERT NAME OF THE CLIENT/SIGNING AUTHORITY AND DESIGNATION]

Signature:

Date: [INSERT SIGNING DATE OF CLIENT]