BILLBOARD LEASE AGREEMENT

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

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

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

The “Lessor” and the “Lessee” together shall be referred to as “Parties” and individually as a “Party”.

WHEREAS:

1. The lessor is the lawful owner of property located at [INSERT THE LOCATION OF THE PROPERTY] and desires to lease a certain portion of the property (hereinafter referred to as “Leased Area”) to the lessee for the following purpose set forth in this agreement.
2. The lessee agrees to utilize the leased area for the purpose of displaying the billboard.
3. The lessor and lessee mutually agree to the terms and conditions outlined in this Agreement, which governs the working relationship between the parties.
4. The parties are duly authorized and have the capacity to enter into this agreement.
5. Both the parties affirm to understand the provisions contained herein and in case either party requires clarification as to one or more provisions, either party has had the right to seek clarifications or sought legal guidance.

NOW, THEREFORE, in consideration of the mutual promises contained herein and intending to, be legally bound, the Parties have agreed as follows:

1. DEFINITIONS
   1. “Agreement” shall mean this billboard lease agreement.
   2. “Lessor” shall mean the owner of the property located at [INSERT THE LOCATION OF THE PARTY].
   3. “Lessee” shall mean the owner of the billboard to be displayed on the leased area.
   4. “Leased Area” shall mean a certain portion of the lessor’s property.
   5. “Billboard” shall mean the advertising structure owned by the lessee and displayed in the leased area.
2. TERM
   1. The lease term shall commence on the effective date hereof and shall continue for a period of [INSERT THE TERM OF AGREEMENT IN YEARS OR MONTHS], unless terminated earlier or extended as per the terms of this agreement.
3. BILLBOARD DETAILS
   1. The Billboard to be displayed by the lessee on the leased area is described as follows: [INSERT THE DESCRIPTION OF THE BILLBOARD]
   2. The lessee shall be responsible for the design and content of the billboard. The billboard’s content must comply with all applicable laws and regulations and shall be subject to the lessor’s prior written approval.
4. USE OF LEASED AREA
   1. Lessee shall use the Leased area solely for the purpose for which it is designed and not for any other purpose as mentioned in this agreement and shall properly maintain it in good working condition throughout the term.
   2. Lessee shall use the leased area in a careful manner complying with the lessor’s requirements along with any other applicable law, whether local, state, or federal.
   3. Lessee shall not alter, modify, or attach anything in the leased Area without any prior written consent of the lessor.
5. RENTAL AND SECURITY DEPOSIT
   1. The Lessee agrees to pay [INSERT THE AMOUNT TO BE PAID BY LESSEE TO LESSOR FOR A MONTH] per month to the Lessor for the use of the leased area.
   2. All the amounts paid herein shall be in [INSERT THE CURRENCY IN WHICH PAYMENT SHALL BE MADE] and shall be paid to Lessor via [INSERT THE MODE OF PAYMENT]. Lessee shall provide a security deposit of [INSERT THE AMOUNT TO BE DEPOSITED AS SECURITY BY LESSEE] along with the payment of first month to the lessor. The security deposit shall be returned to lessee within [INSERT THE PERIOD AFTER THE END OF LEASE WITHIN WHICH SECURITY DEPOSIT SHALL BE RETURNED TO LESSEE] after the end of the lease term, subject to any deductions for damages, unpaid rental fees, or other liabilities.
6. MAINTENANCE AND REPAIR
   1. Lessee will, at Lessee's sole expense, keep and maintain the billboard and leased area in good, clean condition during the term of this Lease and any renewal thereof. Lessee shall be responsible to make repairs to the leased area therein that may have been damaged by Lessee's negligence.
   2. Lessor shall be responsible for the structural integrity and stability of the billboard’s framework. Any damage to the billboard due to lessor’s negligence and misconduct beyond normal wear and tear shall be repaired by the lessor at their own expense.
7. LESSOR’S OBLIGATION
   1. The Lessor represents and warrants that they are the legal owner of the property and have the right to lease it to the Lessee. The Lessee acknowledges that they have no right, title, or interest in the leased area other than the right to use it during the lease term.
   2. The Lessor shall comply with all applicable laws, regulations, and safety standards related to the billboard.
8. LESSEE’S OBLIGATION
   1. The lessee shall pay the rental fees specified in the agreement in a timely manner and in accordance with payment scheduled.
   2. The lessee shall use the leased area solely for the Intended use with reasonable care and diligence in displaying the billboard.
   3. The Lessee shall not make any alterations, modifications, or attachments to the leased area without the prior written consent of the Lessor. The Lessee shall not sublease or transfer the leased area to any third party without the Lessor's prior written permission.
   4. At the end of the lease term or upon termination of this Agreement, the Lessee shall return any records, or documentation related to the leased area to the Lessor.
9. POSSESSION AND SURRENDER OF BILLBOARD
   1. Lessor shall be entitled to possession of the billboard on the first day of the Term. At the expiration of the Term or Termination of this Agreement, Lessor shall surrender the billboard to Lessee or Lessee's agent in same condition as it was at the commencement of this Agreement, reasonable wear and tear excepted.
10. TERMINATION
    1. Either party may terminate this agreement by giving [INSERT THE NUMBER OF DAYS WITHIN WHICH NOTICE OF TERMINATION SHALL BE GIVEN] written notice to the other party.
    2. Upon termination, the lessor shall return the billboard to lessor in the same condition as received, excluding normal wear and tear.
    3. At the Lessor's request, this Agreement may be terminated in cases where the Lessee:
       1. Uses the leased area with a material breach of the terms of the Agreement with repeated violations.
       2. Significantly deteriorates the leased area.
       3. Fails to pay more than twice in a row upon the expiry of the payment period stipulated by the Agreement.
    4. At the Lessee's request, the Agreement may be terminated in cases where:
       1. Lessor fails to provide the leased area for Lessee's use or creates obstacles to use the leased area in accordance with the terms of the Agreement or its purpose.
       2. The Lessor fails to perform its obligation within the terms set forth in the Agreement, or, if not specified, within a reasonable period.
    5. The consequences of termination of this Agreement shall be determined by mutual agreement of the Parties or by a court at the request of any of the Parties to the Agreement.
11. DEFAULTS
    1. If Lessee fails to perform or fulfill any obligation under this Agreement, Lessee shall be in default of this Lease. Subject to any statute, ordinance or law to the contrary, Lessee shall have seven (7) days from the date of notice of default by Lessor to cure the default. In the event Lessee does not cure a default, Lessor may at Lessor’s option (a) cure such default and the cost of such action may be added to Lessee's financial obligations under this lease; or (b) declare Lessee in default of the Lease.
    2. In the event of default, Lessor may also, as permitted by law, re-take possession of the billboard.
12. INDEMNIFICATION
    1. Any material breach of this Agreement, or the negligence or willful misconduct of either party, the other party shall indemnify the other party and hold the other party harmless from and against any judgment, damage, liability, or expenses, including reasonable attorney’s fees, arising out of any claim with respect to the breach or alleged breach of such warranty of this agreement or such negligence or willful misconduct; provided that the other party shall have had sole control of the defense of any such action and all negotiations for its settlement or compromise; and, provided further, that no cost or expense shall be incurred for the account of the other party without its prior written consent.
13. APPLICABLE LAW
    1. This Agreement shall be governed by and constructed in accordance with the Laws, rules, orders, and regulations of [MENTION THE COUNTRY]
    2. The Parties shall resolve all disputes in connection with the validity or interpretation of this Agreement, unless otherwise expressly stated in the Agreement, in the following manner: 
       1. By direct negotiations between the Lessor and Lessee. 
       2. If negotiations between the parties are unsuccessful, the matter shall be referred to the competent court sitting at [INSERT THE PLACE THAT SHALL HAVE EXCLUSIVE JURISDICTION IN CASE OF UNSUCCESSFUL NEGOTIATIONS] which shall have exclusive jurisdiction in all matters arising there from unless otherwise agreed between the Parties in writing.
14. NOTICES
    1. Any notice, request, demand, consent or other communication required or permitted under this Agreement shall be in writing and sent either via email on the email address as provided by the parties and shall be considered sent when the email is sent to the correct email address of the party or shall be given by personal delivery (including courier) by certified mail (confirmed by mail) addressed to the party for which it is intended at the address below and shall be deemed to be given on the day of delivery or transmission if within during normal business hours, or, if after business hours, on the next following Business Day, or if mailed by registered or certified mail, on the day which is seven (7) Business Days after such notice is mailed during normal postal conditions.  In the event of a postal disruption, any notice mailed will be deemed received on the seventh (7th) Business Day following resumption of regular postal service:
       1. If to the Lessor: [INSERT THE EMAIL ID OR/AND ADDRESS OF LESSOR]
       2. If to the Lessee: [INSERT THE EMAIL ID OR/AND ADDRESS OF LESSEE]
    2. Either party may change its address/email address for notices and other communications upon notice to the other party in the manner aforesaid.
15. 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. If, for any reason, such Dispute cannot be resolved amicably by the Parties, the same shall then be referred to and settled by way of arbitration proceedings in accordance with the Arbitration laws of [INSERT THE CITY or COUNTRY WHOSE ARBITRATION LAWS WILL APPLY] then in force.
16. MISCELLANOUS
    1. Modifications: Except as otherwise provided herein this Agreement shall not be amended or otherwise modified unless the modification or amendment is done in writing, signed and has been mutually agreed by both the parties.
    2. Language: The language of all communications between the parties pursuant to this Agreement, including notices and reports, will be ENGLISH.
    3. Severability: If any provision of this Agreement shall, to any extent, be held to be invalid or unenforceable, it shall be deemed to be separate and severable from the remaining provisions of this Agreement, which shall remain in full force and effect and be binding as though the invalid or unenforceable provision had not been included.
    4. Entire agreement: This agreement along with all the Exhibits 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. This Agreement may be executed in identical duplicate counterparts, each of which shall be deemed an original, and both of which together shall constitute one and the same instrument. 
    5. No Waiver: Any failure or delay of any Party hereto in exercising any right or privilege with respect to this Agreement shall not be construed to be a waiver or to affect the validity of any part of the Agreement and shall not retrain any of the Parties to enforce any of the provisions of the Agreement.
    6. Amendments and Assignments:  Any amendments to this Agreement shall be made, only if, both Parties agree upon such amendment in writing. This Agreement shall not be assigned by either party without the express, written consent of the other party.
    7. Headings: The headings upon the various sections are solely for convenience and reference only and shall not affect the scope, meaning, intent or interpretation of the provisions of this Agreement, nor shall such headings otherwise be given any legal effect.
17. 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 undersigned have executed or caused this Agreement to be executed as of the date first written above.

Signed, sealed and delivered on behalf of lessor

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

Signature:

Date: [INSERT THE DATE ON WHICH LESSOR SIGNS THE AGREEMENT]

Signed, sealed and delivered on behalf of Lessee

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

Signature:

Date: [INSERT THE DATE ON WHICH LESSEE SIGNS THE AGREEMENT]