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LEASE AGREEMENT
On this day, Thursday, April 28, 2011, we the undersigned:
1. Name: BACHTIAR LIEM
ID Number: 03030303
Address: Jl Jatipadang NO 18
Housing, South Jakarta hereinafter Referred to as the First Party or lessor 2. Name: MR. Delon Passport Number: F007007 Office Address: House No: 888, sec-8 Faridabad, Haryana, India hereinafter Referred to as the Second Party or the lessee hereby declared to cooperate in Lease Agreement of: Taman Rasuna Apartment Tower 9 North, Floor 80, unit B Jl HR Rasuna Said, Jakarta 12960, Indonesia (hereinafter Referred to as "Premises" with inventory list enclosed) This Lease Agreement (hereinafter Referred to as "Agreement") has been concluded and accepted by both parties under the following terms and conditions : ARTICLE 1: LEASE PERIOD 1. This agreement is valid for a period of 2 (two) years (25 May 2011-24 May 2013). 2. Lessee has the first option to extend the lease period, at a rental rate and on terms and conditions of the agreed to by both parties. If Lessee desires to extend the lease period, the lessee shall notify Lessor at least 30 (thirty) days before the expiry date of this agreement. Payment of the agreement extension has to be done by the Lessee, 10 (ten) days before the expiry date of this agreement. 3. Over stay will be charged £ 500,000 (five hundred thousand rupiah) per day, with a maximum of 5 (five) days from the expiration date of the lease period. After that, the lessor has the legal right to vacate the Premises without any further notification. ARTICLE 2: SECURITY DEPOSIT 1. Security Deposit, equivalent to 1 (one) month rental rate, shall be given by the Lessee. Security Deposit will be used to pay any outstanding bills (electricity, water or any other bills that related) and to reserve the Premises condition. 2. Security Deposit will be REFUNDED by lessor to lessee within a period of 30 (thirty) days without interest after the agreement expires and after being deducted by payment of outstanding bills and repair of the apartment unit (arrears, cost and loses Arising during the agreement) . 3. If expenses to pay the outstanding bills and repair of the apartment units, exceed the amount of the Security Deposit, Lessee agrees to pay the difference of all outstanding costs within 5 (five) working days after the agreement expires. Taman Rasuna Apartment 9N 80B ARTICLE 3 : RENTAL RATE 1. Rental rate is £ 4,500,000, - (four million five hundred thousand rupiah) per month. 2. The lessor is responsible for the payment of monthly service charge. 3. Lessee is responsible for the payment of electricity, water and other facilities subscribed to by the lessee (if available, ie: internet, cable TV, newspaper, etc). 4. If Lessee fail to pay According to payment terms for services Mentioned above in due time and that causes the cut-off from electricity, water or other facilities, then the lessee is obligated to pay for the penalties and re-activation charges it may cause. ARTICLE 4 : PAYMENT 1. The payment will be made as follows: • Security deposits: 28 April 2011: £ 4,500,000, - • First payment: 24 May 2011: £ 54,000,000, - • Second Payment: 24 May 2011: £ 54,000,000, - 2. Late payment charge will be £ 200,000 per day in addition to the rental rate. 3. Late payment over than 3 (three) days means cancel this agreement solely Lessee, Lessor will then have the full right of security deposit.
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