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The Long Term Lease Agreement is a crucial legal instrument used in Pakistan for establishing extended property rental arrangements exceeding one year. It serves as the primary document governing the relationship between property owners and tenants, whether for commercial, residential, or industrial purposes. This document must comply with multiple Pakistani laws including the Transfer of Property Act 1882, Registration Act 1908, and provincial rent control regulations. It is particularly important for businesses seeking stable, long-term premises, investors in commercial real estate, and organizations requiring secured long-term property rights. The agreement typically includes comprehensive terms covering rent, maintenance, use restrictions, and renewal options, while incorporating necessary provisions for compliance with both civil and Islamic law principles. Registration of such agreements is mandatory under Pakistani law, making them formally binding and enforceable legal instruments.

1. Parties: Identification and details of the lessor and lessee, including complete legal names, addresses, and registration details if companies

2. Background: Context of the lease arrangement and brief description of the property

3. Definitions: Definitions of key terms used throughout the agreement

4. Property Description: Detailed description of the leased property including exact location, boundaries, and area

5. Term and Renewal: Duration of the lease, commencement date, and renewal conditions

6. Rent and Payment Terms: Rent amount, payment schedule, method of payment, and annual increments

7. Security Deposit: Amount, payment terms, and conditions for refund of security deposit

8. Permitted Use: Specified purposes for which the property may be used

9. Maintenance and Repairs: Responsibilities of parties for maintenance, repairs, and improvements

10. Utilities and Outgoings: Responsibility for utility payments and other property-related expenses

11. Insurance: Insurance requirements for both parties

12. Assignment and Subletting: Conditions under which the lessee may assign or sublet the property

13. Lessor's Covenants: Obligations and warranties of the property owner

14. Lessee's Covenants: Obligations and warranties of the tenant

15. Default and Remedies: Events of default and available remedies for both parties

16. Termination: Conditions and procedures for termination of the lease

17. Governing Law: Specification of Pakistani law as governing law and jurisdiction

18. Notices: Process and addresses for serving legal notices

19. Execution: Signature blocks and execution requirements