LEASE AGREEMENT

This Lease Agreement entered into on this 18th day of May, 2024 at Virar.

BETWEEN

J.AVENUE 49 to 52, Established co-operative housing Society, situated at

Rustomjee Evershine, Global City, Virar West (hereinafter referred to as the
“Lessor", which expression shall, wherever the context so requires or admits, shall
mean and include his legal heirs, executors, administrators and assignees successors
in interest);

AND

M/s ECO GROWTH SOLUTION a Partnership Firm incorporated

under Partnership Firm Act 1932, having its Head office at: 101, Chhota Parivar,
Veer Savarkar Nagar, Near Platform No. 1, Vasai (W) 401202. (hereinafter
referred to as the “Lessee, which expression shall, wherever the context so requires
or admits, shall mean and include its executors, administrators and assignees
successors in interest). The Lessor and Lessee are individually referred to as a
„Party‟ and collectively referred to as „Parties‟.

I. WHEREAS the Lessor is the owner in possession of the area of „ Solar plants‟
situated at Rustomjee Evershine, Global City, Virar,West District Palghar in
Maharashtra which is more fully described in the Schedule hereunder and
hereinafter referred to as the “Schedule Property”.

II. WHEREAS the Lessee being a partnership firm incorporated under the
Partnership Firm Act 1932, having its Head office at: 101, Chhota Parivar, Veer
Savarkar Nagar, Near Platform No. 1, Vasai (W) 401202. Develop and operate
solar energy-based power plant under MNRE Scheme notified on 8th March 2019.

III. (a) WHEREAS pursuant to the request of the Lessee, the Lessor has agreed to
grant the lease, the Lessee has agreed to take on lease from the Lessor the Schedule
Property which is more fully described in Schedule written hereunder and
hereinafter referred to as the “Schedule Property" for setting up of the minimum
18KW or Bi-facial Half-cut 545W solar energy based power plant (hereinafter
referred to as the “Project”).

IV. WHEREAS the Lessor and Lessee have mutually determined the lease Unit
price charges as detailed in Article 3 of this Lease Agreement.

V. NOW THIS LEASE AGREEMENT WITNESSES THAT in consideration of the

above and of the mutual covenants of the Parties hereto, the Lessor hereby grants
and the Lessee hereby accepts the lease of the Schedule property on the following
terms and conditions:
1. PURPOSE OF LEASE: The grant of lease by the Lessor to the Lessee in respect
of the Schedule Property is for the purpose of developing the Project under the
MNRE Scheme notified on 8th March 2019.

2. PERIOD OF THE LEASE The period of this Lease Agreement shall be for
Seven (7) years from the Effective Date (“Lease Period”) which may be renewed at
the option of the Lessee and Lessor for further period, on such mutually agreeable
terms as may be agreed at the time of renewal, by both the Parties, by executing and
registering a separate lease agreement.

3. UNIT PRICE
a) The rent payable by the Lessee to the Lessor for the Schedule Project shall be INR
as per Month Unit after generation of Electricity Bill by way of vide
Cheque/Demand Draft/ Bank Transfer in favour of the Lessee payable in the name
of “M/s ECO GROWTH SOLUTION.”

b) That the Lessor herein shall pay the payment to the lessee for using
Solar Plant per the Meter Reading of the Inverter during the period of
this Lease Deed

b) The Unit price shall be paid by the 10th day of every month, by crediting the same
to the Lessor‟s bank account, the details of which may be furnished by the Lessor
from time to time.

e) If the Lessee delays the payment of rent by the due date of every month, for any
reason, the same shall be paid by adding the interest at the rate [….] % for the said
delayed period.

4. GENERAL TERMS
a) In consideration of the Unit Price herein agreed as payable to the Lessee being
paid by the Lessor through established society regularly and on complying with
other terms and conditions and covenants by the Lessee, the Lessee shall peacefully
possess the Schedule Property during the Lease Period without any interruption by
the Lessor.

c) The Lessor has no objections for the Lessee to establish the Project in the
Schedule Property, which is the purpose of the grant of this lease and to that effect,
the Lessee entering into any agreements, deeds with companies, individuals,
developers/ third party, etc. in respect of the Schedule Property.

d) The Lessor has no objections for the Lessee or its representatives for installation
of machinery, equipment, etc. to establish the Project in the Schedule Property and
all work relating to thereto, including but not limited to laying poles, wires, etc.

5. EVENT OF SALE, ACCEPTANCE OF LEASE BY THE NEW LESSOR

a) In the event of the Lessor transferring their rights/ interest in any manner during
the existence of the lease to any other Person, the same may be allowed without
affecting the rights of the Lessee under the Lease Agreement in any manner and the
Lessor shall inform the Lessee about the acquiring of the right/ interest in respect of
the Schedule Property and on receipt of such information, the Lessee shall accept
such Person‟s lessorship of the Schedule Property and obtain a written confirmation
from such Person to the effect that he will be bound by the terms of the Lease
Agreement.

b) In the event of the Lessor transferring their rights/ interest to any other Person, the
same may be informed to the Lessee and the Lessor shall ascertain and obtain all the
necessary documents from the Person to the effect that the Person will be bound by
the terms and conditions of the Lease Agreement for the balance Lease Period or for
using the said documents for renewal of the lease agreement, if required mutually by
the parties.

c) During the subsistence of the Lease Agreement, the Lessee shall not carry any
activity, in the Schedule Property, other than those agreed in this Lease Agreement;

d) The change in the legal status of the Lessee shall not affect the terms and
conditions of this Lease Agreement.

e) The Lessee shall not offer or create any charge or encumbrance by offering the
same as by way of mortgage, security, etc. in favor of any banks or financial
institutions in respect of the loans or advances or any other financial facilities that
may be availed by the Lessee.

f) The Lessor shall pay all the tax/ any other statutory or other charges, as
applicable, in respect of the Schedule Property during the Lease Period or extended
lease period, if applicable.

6. PAYMENT OF STAMP DUTY AND REGISTRATION CHARGES: The stamp

duty and other registration charges, as applicable for this Lease Agreement shall be
paid by the Lessee during the Lease Period.

7. FORCE MAJEURE: It is also agreed and understood between the Parties that in
case of any mishap due to fire, earthquake, strike, floods, tempest, war, riot, civil
war or civil commotions, mob violence, civil disturbance, act of God or on account
of terrorist attack, the Lessor shall not be liable for any loss or damage that may be
occasioned to the Lessee/ its merchandise.

8. LESSOR’S DUTIES, COVENANTS, AND OBLIGATIONS

a) The Lessor hereby covenants with the Lessee that the Lessor regularly paying the
Unit Price hereby reserved and performing and observing all the covenants of the
Lessee herein contained, shall be entitled, during the subsistence of this lease to
enjoy the Schedule Property without let, hindrance or interference from the Lessor
or any other Person claiming through or under him; Still, in the event of the Lessee
restrained from enjoying the peaceful possession of the Schedule Property or on
account of any action by the Government during the Lease Period and in the event of
dispossession of the Lessee from the Schedule Property or any portion thereof
forcibly, due to any default of the Lessor, the Lessor shall make good the reasonable
loss that may be suffered by the Lessee.
b) The Lessor shall offer necessary support and cooperation to the Lessee in its
process to obtain required permissions, approvals, clearances, etc., from any
statutory authority or other local bodies for the purpose of obtaining and license,
permissions, etc., for installation of the Project. However, obtaining such
permissions, approvals, clearances, etc., shall be the sole responsibility of Lessee.

10. LESSEE'S COVENANT AND OBLIGATIONS The Lessee hereby covenants

with the Lessor as under:
a) The Schedule Property shall be utilized for the purpose, as mentioned under
Article 0;
b) The Lessor shall pay the unit price regularly and promptly, as mentioned
under Article 3.

11. TERMINATION AND RE-ENTRY

The Lease shall be terminable under all or any of the following circumstances,
namely –
a) by efflux of time;

b) in the event of breach by either Party of the terms, conditions and covenants
hereof; That refers 7 years locking period or 100% of payment (Plant Cost) with
18% of interest payment.

c) if the Schedule Property or any part thereof is severely damaged or destroyed due
to any unforeseen circumstances or Force Majeure situation, etc., and these damages
are not restored to by the Lessor within a reasonable time or if the demised premises
is acquired compulsorily by any authority (in this case, the Lessee will have the
recourse of arbitration against such authority);

d) After the expiry of the Lease Period, the Lessee shall handover the Schedule
Property to the Lessor as it existed previously at the time of this Lease Agreement
(subject to normal wear and tear). The Lessee will ensure that the Project after the
„end of life‟ (when they become defective/ non-operational/ non-repairable) are
disposed of in accordance with the “e-waste (Management and Handling) Rules,
2011” notified by the Government and as revised and amended from time to time,
failing which the cost of restoring the Schedule Property to the previously existing
condition will be recovered by the Lessor from the proceeds payable to the Lessee in
lieu of energy supplied by Lessee as per the Power Purchase Agreement.

12. VARIATION
The Lessor and the Lessee hereto acknowledge that this Lease Agreement
supersedes all prior communications between them including all oral or written
proposals. Any variation, addition and modifications of this Lease Agreement
between the Parties shall be valid only if in writing by the Lessor and Lessees
authorized representative.
13. ARBITRATION

a) Any disputes or differences arising between the Parties hereto as to the effect,
interpretation or application any of the clauses of this Lease Agreement or as to their
rights, duties or liabilities thereunder, or as to any act, matter or thing arising out of,
or consequent to, or in connection with this Lease Agreement shall be referred to
and resolved by arbitration by referring the same for arbitration to any retired
District Judge and shall be resolved finally at his arbitration under arbitration and
Conciliation Act 1996 and its Amendments or any other Enactment. The arbitration
proceedings shall be held at Maharashtra, and shall be in English Language.

b) This Lease Agreement shall be governed by the laws of India. The Courts at
Maharashtra alone shall have the jurisdiction to entertain and or try any dispute
arising out of or in connection with or in relation to the terms of this Lease
Agreement.

IN WITNESS WHEREOF the Parties hereto have executed these presents in the
presence of the witnesses attesting hereunder on the day, month and year mentioned
hereinabove.

Signed and delivered by the Lessor Signed and delivered by the Lessee

Signature: Signature:
Name of the Authorized Signatory: Name of the Authorized Signatory:

Date:
Witnesses:
In the presence of:
1. 2
Signature: Signature:
Name: Name:
Designation:. Designation: