Agreement of Lease - Commercial Lease - UTBP

LEASE AGREEMENT

The landlord hereby lets the leased premises together with the parking bays to the tenant in accordance with the particulars contained in the schedule, and on the terms contained in the annexures.

SCHEDULE

Tenant

Full registered name of business :

Business registration number

:

VAT number (compulsory)

:

Trade name/s of business

:

Nature of business

:

Type of business

:

Registered address of business :

Physical address of business

:

Postal address of business

:

Telephone no

:

Fax no

:

Email address

:

Contact person

:

_______________________________________ _______________________________________ _______________________________________ _______________________________________ _______________________________________ Sole Proprietor/(Pty) Ltd/cc/Partnership/Limited _______________________________________ _______________________________________ _______________________________________ _______________________________________ _______________________________________ _______________________________________ _______________________________________ _______________________________________ _______________________________________ _______________________________________

Sureties First surety full name First surety ID number Second surety full name Second surety ID number

:

_______________________________________

:

_______________________________________

:

_______________________________________

:

_______________________________________

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Landlord

Full registered name of business :

Business registration number

:

Physical address of business

:

Postal address of business

:

Telephone no

:

Fax no

:

Email address

:

Contact person

:

Under The Boardwalk Properties 2006/032047/07 Block 4, The Willows Office Park, George Rd, Erand Gardens, Midrand P O Box 525, Halfway House, Gauteng, 1685 087 310 2020 011 318-7945 bobbyf@whizprop.co.za Bobby Forssman

Property Property description Property address

:

Erf 61 & 366 Erand Gardens Ext 43

:

276 George Road, Erand Gardens, Midrand

Leased Premises (as identified on annexed plan)

Unit no

:

Unit size

:

Parking

:

Use of leased premises

:

________________________________ _____________________________ ________ basement bays ________ covered bays _______________________________________

Monthly Rental

Base rental

:

Contribution to operating costs :

Assessment Rates & Taxes

:

Parking rental

:

Storeroom rental

:

R _____________________________ Escalating at 10% per annum compounded

R _____________________________ Escalating at 10% per annum compounded

R _____________________________ Escalating at 10% per annum compounded

R _____________________________ Escalating at 10% per annum compounded

R______________________________ Escalating at 10% per annum compounded

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Tenant's pro-rata share of municipal charges

Present total monthly rental

:

5.5%

:

R_____________________________

Excluding VAT

Lease Period Details Commencement date Lease period Renewal Period

:

_______________________________________

:

__________________________________ years

:

__________________________________ years

Deposit/Bank Guarantee Deposit/Bank Guarantee

:

R _____________________________________

(The cash value in last two months of

Lease)

Administration Details

Contract administration costs

:

Interest rate on outstanding

:

amounts

Managing agent's late payment : administration fee

R 750 excluding VAT 2% above prime lending rate of Nedbank

10% of the amount outstanding

Managing Agent

Full registered name of business :

Telephone no

:

Fax no

:

Email address

:

Contact person

:

Whiz Property Group (Pty) Ltd 087 310 2010 011-318-7945 debbieh@whizprop.co.za Debbie Howard

Leasing Agent

Full registered name of business :

Telephone no

:

Contact person

:

Email Address

:

_______________________________________ _______________________________________ _______________________________________ _______________________________________

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Annexures Annexure A Annexure B Annexure C Annexure D Annexure E

:

General Terms and Conditions

:

Company Resolution

:

Plan of Leased Premises

:

Special Terms and Conditions

:

Suretyship

Signatures TENANT'S SIGNATURE Full name of signatory Capacity Place of signature Date of signature

WITNESS SIGNATURE Full name of witness ID number of witness

:

_______________________________________

:

_______________________________________

:

_______________________________________

:

_______________________________________

:

_______________________________________

:

_______________________________________

:

_______________________________________

:

_______________________________________

LANDLORD'S SIGNATURE Full name of signatory Capacity Place of signature Date of signature

WITNESS SIGNATURE Full name of witness ID number of witness

:

_______________________________________

:

Luke Alexander Forssman

:

Manager

:

Midrand

:

_______________________________________

:

_______________________________________

:

Deborah Lee Howard

:

7102180104082

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ANNEXURE A

GENERAL TERMS AND CONDITIONS

1. DEFINITIONS

In this agreement, unless the context otherwise requires, the expressions defined below shall bear the meanings set out hereunder:

1.1 "business day" means every day except a Saturday, Sunday or official public holiday;

1.2 "commencement date" means the date as recorded in the Schedule, upon which, in the reasonable opinion of the landlord, the lease will commence or such other date as may be determined in terms of clause 3.2;

1.3 "common area" means all staircases, stairwells, toilets not specifically set aside for the tenant's exclusive use, gardens, parking areas, ramps, entrances and hallways and all areas which are not in the opinion of the landlord to be designated as rentable areas;

1.4 "leased premises" means the area let in terms of this lease and as described in the Schedule together with any areas in respect of which the tenant has exclusive use;

1.5 "pro rata share" means the ratio between the area that the leased premises bears to the total rentable area of the property as measured according to the method of measurement as laid down by the South African Property Owners Association, and as amended from time to time. Should the area of the leased premises on occupation be found to be different from the estimated area as stated in the Schedule, due to a change in the method of measurement or any reason whatsoever, then the tenant's pro rata share as stated in the Schedule, will be adjusted to reflect the correct pro rata share;

1.6 "rates and taxes" means those charges levied by any competent authority or body, upon and in respect of the property and/or building/s, or other charges related to the value of the property and/or improvements thereon, at any time and from time to time during the currency of this lease, including increases in those charges;

1.7 the masculine gender include all other genders;

1.8 the clause headings shall not be taken into account in its interpretation;

1.9 all rentals and other amounts stipulated herein do not include value added tax; the tenant is, in addition to the stipulated amounts, also liable for value added tax payable in respect thereof.

2. COMMENCEMENT DATE

2.1 Unless postponed by the Landlord, in writing, the commencement date of this lease shall be the date stipulated in the Schedule.

2.2 In the event of a postponement of the beneficial occupation date, the commencement date shall likewise be postponed to the first day of the month following the expiry of the beneficial occupation period. In the event of the postponement of the commencement date the lease shall endure for the full lease period and the termination date shall be adjusted in light thereof. The tenant shall have no claim against the landlord to cancel this agreement or for any loss or damage whatsoever, either actual or consequential, which it may Page 5 of 25

incur due to the postponement of the beneficial occupation date.

2.3 In the event that the leased premises are not ready for occupation due to any act/omission by the tenant, the lease shall commence on the commencement date.

2.4 In the event that the landlord notifies the tenant that the leased premises are ready for occupation and the tenant fails to take occupation of the leased premises on the beneficial occupation date, this failure to take occupation shall be regarded a material breach of this agreement and the landlord shall be entitled, but not obliged, to cancel this agreement in terms of Clause 27.

3. PAYMENT OF TOTAL MONTHLY RENTAL

3.1 The total monthly rental is payable monthly in advance, on the first day of every month, free of deduction or set-off, to the landlord's nominated agent at the agent's address.

3.2 The total monthly rental shall be payable from the day following the expiry of the beneficial occupation period. In the event that this said date does not fall upon the first day of the month the tenant shall be liable for a pro rata portion of the total monthly rental calculated at a daily rate from the day following the expiry of the beneficial occupation period until the last day of the month in which beneficial occupation period expired.

3.3 The Base Rental, Operating Costs and Parking Rental shall escalate by the percentage relevant to that charge, as reflected in Schedule, per annum, compounded with effect from the anniversary of the commencement date.

3.4 The tenant may not withhold the payment of any amounts because he has been inconvenienced, or because his use of the leased premises has been impaired or restricted by repairs, renovation, interruption in the supply of services, or for any other reason whatsoever.

4. RATES AND TAXES

4.1 The tenant shall pay, as part of its total monthly rental, its pro rata share of the rates and taxes which are payable by the landlord from time to time, including all increases thereon.

4.2 Furthermore, the tenant shall pay its pro rata share of any new property levies, charges or taxes which may be imposed by the local or any other responsible authority in respect of the property and/or building.

5. LATE PAYMENTS

If any amount due in terms of this lease agreement is paid after due date, the tenant shall, at the option of the landlord, be liable for interest on the unpaid amount, calculated at the rate given in the Schedule. Should the tenant continuously pay after the due date any amount due in terms of this lease agreement, then the landlord has the right to list the tenant as a late payer with any of the Credit Bureaus.

6. DEPOSIT OR IRREVOCABLE BANK GUARANTEE

The tenant shall, within 7 (seven) days after final signature of this agreement pay the deposit to the landlord or deliver an irrevocable bank guarantee to the landlord on terms as acceptable to the landlord. The landlord shall refund the deposit or return the irrevocable bank guarantee, less deductions for unpaid rental and/or damages, as soon as reasonably possible after termination of the lease. The landlord reserves the right at any time prior to the termination of the lease to deduct any amount due in terms of this lease from the deposit or to call up the irrevocable bank guarantee and

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to apply funds received to any amount due in terms of this lease. In such instance, the tenant shall on demand pay to the landlord the equivalent of the amount so deducted, which amount shall then form part of the deposit.

7. CONDITION OF LEASED PREMISES

The landlord is not obliged to rectify any defect in the leased premises, unless the tenant has notified the landlord in writing within 14 (fourteen) days after the beneficial occupation date of such defects, failing which the tenant will be deemed to have accepted the premises as being complete and without any defects therein. The tenant acknowledges that, as at the beneficial occupation date and from time to time, the landlord may be engaged in construction in and around the Property, which may result in inconvenience to the tenant. The tenant shall have no claim against the landlord of whatsoever nature, either for a reduction or abatement of rental or cancellation of the agreement, other than as expressly contained herein.

8. USE OF LEASED PREMISES

The tenant shall use the leased premises for the use stipulated in the Schedule, and shall not use it for any other purpose.

9. WINDOWS

Windows shall at all times be transparent and all decorations and/or advertisements affixed thereto shall require the landlord's written approval. Such advertisements will be removed by the tenant upon termination of this agreement at the tenant's sole cost.

10. LICENCES

The tenant shall obtain all trading licenses and other permissions which may be necessary for its use of the leased premises. The risk of obtaining such licenses rests with the tenant.

11. ALTERATIONS

11.1 The tenant may not effect any improvements, alterations or additions to the leased premises including, but not limited to, the air-conditioning units or the relocation thereof, without the prior written consent of the landlord.

11.2 Any improvements, alterations or additions, including but not limited to the installation of air-conditioning units, which the tenant may have effected to the leased premises shall become the property of the landlord, and the landlord shall not be obliged to compensate the tenant in respect thereof.

11.3 In the event that the tenant effects improvements, alterations or additions to the leased premises it shall provide "as-built" plans to the landlord upon completion of the improvements, alterations or additions. In the event that the tenant fails to provide the aforesaid plans, the landlord shall be entitled to effect the drawing thereof and claim the cost thereof from the tenant.

11.4 The said improvements, alterations or additions shall, if the landlord so requires, be removed by the tenant at the end of the lease and the tenant shall make good all damage or unsightliness caused by such removal at the tenant's cost.

11.5 Notwithstanding anything aforesaid the tenant shall remove the entire telephone system and all cabling including data cabling at termination of the lease, if requested by the landlord.

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12. TRANSFER OF RIGHTS

12.1 The tenant may not without the prior written consent of the landlord sublet the leased premises or allow anyone else to occupy the leased premises.

12.2 The tenant may not cede, assign or encumber his rights under this lease.

12.3 If the tenant is a company or a close corporation, and any change in the controlling shareholding thereof has taken place without the prior consent of the landlord, the landlord may in its sole discretion either unilaterally cancel this lease agreement and claim all damages from the tenant or accept such assignment of this agreement.

13. SALE OF PROPERTY OR TRANSFER OF LANDLORD'S RIGHTS

In the event of a sale of the property by the landlord to any third party, the tenant agrees to be bound to such third party in terms of this lease. The landlord shall furthermore at any time be entitled to sell, cede, assign, delegate and make over unto or in favour of any legal persona, all its rights, title, interest and obligations as contained herein.

14. MAINTENANCE AND REPAIRS

14.1 The tenant shall:

14.1.1

keep the leased premises, including the interior and exterior of all windows, and all its contents clean, tidy and in good order, condition and repair;

14.1.2

be responsible for the maintenance and repair of any/all damage to the interior of the leased premises and to the interior and exterior of all doors, door frames and handles, shopfronts and windows, window frames and handles, irrespective of how such damage occurred;

14.1.3

at its own cost maintain, and where necessary, replace any fire extinguishing equipment, fire detection or alarm system, power supply and electrical systems, including but not limited to electrical outlets, plugs and distribution boards, installed in the leased premises. The tenant shall keep records of all such equipment and systems and the maintenance or replacement thereof, in terms of applicable legislation;

14.1.4

not cause or permit any obstruction or blockage in sewerage pipes, water pipes or drains serving the leased premises and/or the property, and in the event of there being any obstruction or blockage shall pay upon demand to the landlord, the price for removing such obstruction or blockage;

14.1.5

maintain at its own cost the drainage, plumbing installations, including but not limited to the geysers, sanitary fittings and works in the leased premises and replace any damaged or faulty installations;

14.1.6

be responsible for the cost of maintaining all air-conditioning units in good order and condition which maintenance shall be undertaken by the landlord;

14.1.7 replace at its own cost all light fittings, fluorescent tubes, starters, globes, ballasts, diffusers and incandescent lamps used in the leased premises;

14.1.8

shall be responsible for the pest control in the leased premises. If the tenant does not exercise proper pest control in the leased premises, then the landlord can cause pest control to be exercised in those leased

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