MOU Details

MEMORANDUM OF UNDERSTANDING (MOU)

This Memorandum of Understanding ("MOU") is entered into on by and between:

1. CertiHaus, a company duly organized under the laws of India, having its principal office at:26-22-2 Chinagantyada Junction, Kanithi Road, Gajuwaka, Visakhapatnam – 530026, represented by Managing Partner Mr. Rajesh Katta,S/o Katta Subba Rao, hereinafter referred to as the "Company" or "Lessee", which expression shall, unless repugnant to the context or meaning thereof, include its successors, representatives, and assigns;

AND

2. , hereinafter referred to as the "Buyer" or "Lessor", which expression shall, unless repugnant to the context or meaning thereof, include his heirs, legal representatives, and permitted assigns.

The land at Lova Krishnapuram Village, Madugula Mandal, Anakapalli Dist., purchased under the Madugula Sub-Registrar Office and Lova Ponnavolu Grama Panchayat, and registered by the Lessor under Document Number (Doc No. ) on , Plot Nos agricultural land in (Survey 43-1), it consists of totalling Sq Yds. This land is fully owned by the Lessor and is in his peaceful possession, with clear title and no legal issues. The Lessee is being granted permission to use the land for agricultural purposes, specifically to:

• Plant 10 Areca (Betel) Nut trees and 2 Coconut trees for 100 square yards
• And maintain them for a period of 15 years starting from the date of this agreement.

All maintenance responsibilities—including watering, fertilizing, upkeep, and protection of the plants—will be fully handled by the Lessee at their own cost. After 10th of January 2031, any income or produce from the crop will be shared equally, with 50% going to the Lessee and 50% to the Lessor.

This lease arrangement was made after the Lessee approached the Lessor for cultivating this land, and both parties agreed to the terms through mutual understanding and consent. Hence, this lease agreement is now being documented and signed.

Terms & Conditions

1. 1. This lease agreement is executed for a plain agricultural land where the Lessee shall plant 10 Areca (Betel) Nut trees and 2 Coconut trees for 100 square yards. If any plant dies, the Lessee shall replace it at their own cost.
2. 2. The Lessee will manage all plantation-related work, including consulting experts (if required), watering, fertilization, protection, and all necessary care at their own expense.
3. 3. The scheduled land is officially handed over to the Lessee on the day of signing this agreement.
4. 4. This lease agreement is valid for years from the date of registration .
5. 5. Revenue from the plantation will be shared annually on a 50-50 basis between the Lessor and the Lessee, starting from the 10th of January, 2031, and continuing until the end of the lease agreement term.
6. 6. Revenue will be calculated annually, and the Lessor may visit the Company office to review plantation income details.
7. 7. The Company (Lessee) will handle land maintenance, plantation services, and development as per this agreement.
8. 8. The Company (Lessee) agrees to pay Rs. 35,000/- per 100 square yards to the Lessor every year, starting from the 10th of January, 2031, and continuing until the end of the lease agreement term.
9. 9. Since the Lessor owns square yards, a total of Rs. ₹ will be paid annually starting from the 10th of January, 2031, and continuing until the end of the lease agreement term, as a return on investment.
10. 10. The Company is not responsible for losses due to natural calamities. However, reasonable efforts will be made to reduce damage.
11. 11. The Lessor is entitled to Nut Retreat: day-and-night stays per year at Nut Retreat Resort (2 stays per 100 square yards).
12. 12. Additional nights are subject to availability under the Company’s membership plans.
13. 13. The Lessor and their legal heirs shall not raise any objections to this lease or its development. If the Lessor wishes to sell the land in the future, it must be done in accordance with this lease’s terms and with the consent of the Lessee.
14. 14. The Lessor or their heirs shall not interfere or object to any development activities carried out by the Lessee on the leased land.
15. 15. The Lessee may lease and develop multiple properties together (including this one). The Lessor agrees to this and shall receive 50% of any profits as agreed, without objection.
16. 16. The Lessee will bear all costs related to borewells, electricity, drip irrigation, etc. The Lessor is responsible for paying any property-related taxes.
17. 17. If any horticulture or government permissions are needed, the Lessor agrees to cooperate and provide required signatures when approached by the Lessee.
18. 18. After 15 years, the Lessee shall return the land to the Lessor without any delay or objections.
19. 19. If both parties wish to renew or extend the lease, a new MOU will be made with fresh terms based on mutual agreement at that time.
20. 20. After 5 years, if both parties agree to insure the trees, the insurance premium will be shared equally.
21. 21. Any disputes shall be resolved through arbitration under the jurisdiction of Visakhapatnam and as per Indian law.
22. 22. Both parties agree to keep all project-related details confidential and not share them with third parties.
23. 23. This agreement may be terminated if either party violates any terms stated in this document.
24. 24. By signing this agreement, both parties confirm they have read, understood, and agreed to all the above terms and conditions.

Schedule of Lease Property

The leased property is located at: Lova Krishnapuram Village, Madugula Mandal, Anakapalli District, within the jurisdiction of the Madugula Sub-Registrar Office, under the administration of Lova Ponnavolu Grama Panchayat. Plots: , Extent: Sq Yds.

Boundaries

Witnesses:
1. ________ 2. ________