The Parking Lease Agreement is essential for formalizing arrangements between parking space owners and users in Pakistan's urban centers. This document type is commonly used when leasing single or multiple parking spaces in commercial buildings, residential complexes, or dedicated parking facilities. The agreement must comply with Pakistan's legal framework, including the Contract Act 1872, Transfer of Property Act 1882, and local municipal regulations. It typically includes comprehensive details about the parking space location, lease duration, payment terms, maintenance responsibilities, and usage restrictions. The document is particularly relevant in major cities where parking space is premium and requires formal documentation for both commercial and residential purposes. The agreement helps prevent disputes by clearly defining rights and obligations of all parties involved while ensuring compliance with local property and safety regulations.
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1. Parties: Identification of the lessor and lessee with complete legal names, addresses, and registration details if applicable
2. Background: Context of the agreement, including brief description of the parking facility and purpose of the lease
3. Definitions: Definitions of key terms used throughout the agreement
4. Demised Premises: Detailed description of the leased parking space(s) including location, dimensions, and parking slot numbers
5. Term and Renewal: Duration of the lease, commencement date, and any renewal options
6. Rent and Payment Terms: Lease amount, payment schedule, security deposit, and payment methods
7. Use of Premises: Permitted uses of the parking space and any restrictions
8. Maintenance and Repairs: Responsibilities for maintaining the parking space and surrounding areas
9. Insurance and Liability: Insurance requirements and allocation of risks between parties
10. Default and Termination: Events of default, remedies, and termination procedures
11. Governing Law: Specification of Pakistani law as governing law and jurisdiction
12. Notices: Method and addresses for official communications between parties
13. Entire Agreement: Standard clause confirming the agreement represents the complete understanding between parties
1. Security Services: Details of security arrangements if the lessor provides security services
2. Utilities: Terms regarding electricity, water, or other utilities if provided
3. Signage Rights: Terms for installation and maintenance of signs if allowed
4. Subletting: Terms allowing or prohibiting subletting of parking spaces
5. Operating Hours: Specific hours of operation if restricted
6. Vehicle Size Restrictions: Specifications for vehicle types and sizes permitted
7. Electric Vehicle Charging: Terms for electric vehicle charging facilities if available
8. Force Majeure: Provisions for unforeseen circumstances affecting the agreement
1. Schedule A - Parking Space Plan: Detailed plan or drawing showing the exact location and dimensions of the leased parking space(s)
2. Schedule B - Rent Schedule: Detailed breakdown of rent, including any scheduled increases
3. Schedule C - Rules and Regulations: Specific rules governing the use of the parking facility
4. Schedule D - Maintenance Schedule: Schedule of regular maintenance activities and responsibilities
5. Schedule E - Insurance Requirements: Detailed specifications of required insurance coverage
6. Appendix 1 - Registration Documents: Copies of relevant property registration documents and permits
7. Appendix 2 - Condition Report: Initial condition report of the parking space with photographs
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