Lease Contract

Date

11)''

1 5-Sep-14

No:

INSTRUCTION: For Completing the Lease Contract:

1. This Lease Contact is composed of two parts:

Part A which contains the particulars.

Part B which contains the Terms and Conditions.

r:ff;: ensure that you read and understand all of the Terms and conditions set-out in part B

3*l:ii3:1ff:fJ,,^"J;,r".:il:?:f entered into the Lease contract shourd initiar an pases and rurr

l;li: 33[lrgH) or representative should attach the foilowins items to the initiated, signed copy of the

. For individuals: a photocopy of the party(ies) valid passport

. For company(ies) or establishment(s): a photocopy of:

. i. The authorized signatory,s valid passport.

Note: This lease contract is a legatty binding contract. Please make sure that you carefully read andtrf:;',:ll:;[erms and conditiois oerai you indicati yii,

"""uptance by'initiatizins and sisnins

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Part-A. Page I of3 LCNO: 7722

PART A _ PARTICULARS

1. THE LESSOR:

2.THE LESSEE(S):;*rat-Jr ly'*.! .2

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RAK lnvestment Authority _ A public authority dulyestablished by virtue of ah fmjri Oecree No. 2 of2005p-r cs--r:,)r c*)l *y. -*L -U *;r -rL^:r)lJ -=Ir .rL *+

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Address: Al Jazeera Al Hamra, p.O. Box 31291,Ras Al Khaimah, United Arab Emirateq

Jir,07 2446533:;-1. 3129 I : u. oa,e\Jt ;#t :..)rr,--r._rr

;J-.:ll Llt .:,lrt-yt .i"=ItTelephone No.: 07 206g 666

07 2068 666 : guLar_iFax No.: 0l 243 4464 07 243 4464 . /..,, "' -vJ @' dr

Name(s) of Lessee :

MAVERTCK CONSULTING FZ.LLC

Note: lt should be in the name of the Company orowner of an Establishment as the case maybe.

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UTPAL KUMAR SENGUPTA

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ryyEry[Y CENTER:1, cLoUD FLooR, oFFtcE No.8/D JAZEERA AL HAMRAH, RAK.UAE

Tel No : 07-2433979

Mobile No : 055-2621001 055-2621001 u -, _.,J,ilr sOSl .Jr

Email ld : bbcfze@gmait.com bbcfze@gmail.comcryiYt -,,rr nlroPassport No.of Representative : Gg9g0gg2 G9980982 ,EJrjrF eNationality :

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Part-A. Page2of 3 LCNO: 7722

3. THE LEASED PROPERTYsl+.'-\r;e;

4. THE OBJECTS OF THE LEASE

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TECHN ICAL I NSTALLATIONSCONSULTANCIESAND MANAGEMENT CONSULTANCIES

Licence Number RAKIA 70 FZ4 Og 14 7433 RAKTA 70 FZ4 09 14 7433Licence Type CONSULTTNG & SERVTCE

Part-A. Page 3 of3 LCNO: 7722

PART B

TERMS AND CONDITIONS,r*

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RECITAI,S

It is hereby agreed by and between the Lessor and Lesseethe

. following terms and conditions, to be read inconjunction with the particulars contained in part A of thisLease Contract:

The Lessor has leased to the Lessee and the Lessee acceptsits occupation in the Leased property

Jas staieO in part A(Particulars)] as Lessee according to the terms andconditions, specifi ed hereunder:-

Article l. Lease Objectives :

As refered to in part (A): particulars

Article 2. Contract period :

Contract Period as stated in part A (particulars),cornmences from the date of signing this Contract, (.theElfective Date').

Article 3. Terms of payment

The total Annual Rent Amount as stated in part A(Particulars) shall be paid in advance upon signing theContract.

Article 4 Rent Incremental :

RAKIA has the right to revise the rental value at the end ofevery twelve (12) months during the three (3) yearContract Period as per the prevailing market value at thattime.

Article 5: COVENANTS OF THE LESSEE

The Lessee hereby covenants to the Lessor for itself, itssuccessors in title and assigns that the obligations hereinshall continue throughout the period as folloris:

5-1. To pay the said Annual Rent Amount and yearlymaintenance charges in accordance with the Terms ofPayment mentioned in part A (particulars) free fromanylall deductions.

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LC:7722

5-2. To bear, pay, and fulfill all rates, taxes, assessments,duties. charges, charges for all common

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utltrttes etc assessed or imposed upon or payable in respectof the Leased properry oi irnpo..a upon'rh;- .ie;sor,, the'Lessee' or'Occupant,.

5-3. In case the Lessee remain in the Leased property afterthe Lease Expiry Date without affecting any renewal oflextension to the Lease or remain thereiriafter the lapse oftfe period for early termination under Clause 6.2 hereof,then the !:..1.: shall pay to rhe Lessor an amounr equal toRent multiplied in two (2) and divided on the number ofdays set between the Lease Expiry Date and the date ofproper surrender of the Leased propeffy (Rent x 2A.rtumberof Days)

5-4. The Lessee shall neither sub_lease, nor assign the

l"i:"{ Property or any part thereofto any third parry, norshall share the Leased properfy, in whole or in part, withany natural or corporate person, or permit any of theaforesaid to occupy the Leased property5-5. To maintain in good and tenantable condition theinterior of the Leased property and the Lessor,s fixturestherein and to repair or replace such of them as maybecome worn out, lost, unfit for use or destroyed.

5-6. To confine the use the Leased property exclusivelyand strictly in accordance with the objects of the Lease asmentioned in Part A (particulars).

5-7 To ensure that all waste of whatsoever nature is safelvand properly disposed in the allocated places for garbageand to exercise proper diligence in taking care of theLeased Properfy, the fixtures and appurtenances theretoand the use and occupancy thereof shall conform to allrelevant laws, orders and regulations.

5-8.The Lessee shall not make any internal division,modifications, additions or any finishing without priorwritten consent and approval by the Lessoiand this shouldbe done under the Lessor's supervision only. The Lesseeshall adhere to an accepted level of internal iecor, and theI.essor has the right to reject any level not conforming tothe general appearance of the building or not compllngwith safety precautions. The Lessee shall have no rlgtit toclaim any compensation to these modifications.

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5-9. Not to use the Leased property or permit the same tobe used for any purpose or in any- manner which may beinjurious to the Leased property, and the Lesseeundertakes to notify the Lessor if he/it foresees or noticesany contingent event in the Leased property which nraycause_ danger, promptly or within a period not exceedingone.(l) week, depending on the seriousness / impomanceof the event. In case the Lessee did not inform the samewell in advance and the Lessor feels that the damages rnaybefall on the Leased prope(y or builcling, the Lessor hasthe right to enter into the Leased property at any time totake necessary precautions, security and safety metlrods. Inthis case the Lessee shall allow the Lessor to enter into theLeased Property to perform the required repair work in anyplace in its vicinity.

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5-10. The Lessee is forbidden from storing or pufting in theLeased Property or any other place in ttre buitaing, anyinflammable, explosive, insalubrious, harmful,- aniprohibited or any other materials threatening the soundnessof the building and its safety. The Lissee shall beresponsible for any conflagration that may happen in theLeased Property, whatever may be the causes, and theLessor shall not be responsible if the Leased proper.ty orthe Lessee is exposed to any acts of fraudulence, swindleor robbery for which the Lessee shall take all necessaryprecautions to secure security and safety in the LeasedProperty.

5-ll. The Lessee has no right to store or put commoditiesin the corridors, stairs, roofs, at the entrances or in thepublic places/common areas.

5-12 The Lessee shall strictly observe and abide allapplicable rules and regulations laid down by the Lessorfor the security and better protection of the LeasedProperty and also to ensure that the employees of theLessee and its visitors to the Leased property shall alsostrictly observe and abide rhe same and shall keep theLessor free and harmless from any disputes andinterruptions pertaining to its occupation over the LeasedProperty.

5-13. Except for exposing panels or signs specified by theLessor in the agreed standards, the Lessee has no right toinstall any exposing panel or sign inside or outside thebuilding.

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Part - B LC:7722

5-l4.The Lessee shall at the expiration or soonerdetermination of the Lease Contract p."."irlfi handoverthe Leased Property to the Lessor. Trre'Lessee siarl rernoveall

,its .personal property and such

"rh;;-i;;;"emenrsmade thereto that have not become ttre profi.ry of tneLessor, such as trade fixtures, cabinets, ..rtruUt. panelingand partitions, and shall repair all damages a*. Uy o. inconnection with the installation or rimoval of suchproperty and improvements .

Furthermore, the Lessee shall surender the LeasedProperty to the Lessor in good condition, excludingreasonable wear and tear, and excluding any damag!caused by, weather conditions, the natural .l-l"r.nr., o. unyother cause not due to the intentional misuse or neglect ofthe Lessee or the Lessee,s agents, servants, or visitors.

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5-15. The Lessee shall render the Lessor free and harmlessfrom any liabilities, claims, actions or proceedings filed orto. be filed by a third person arising from or in connectionwith the acts or omissions of its employees in the LeasedProperff, including their visitors.

5-16. The Lessee shall comply with all applicable laws andregulations of competent authorities of

-R.as Al Khaimah,

UAE and any amendrnent thereto.

5.-l7...Water, Electricity and central A/C Chillers chargesshall be on Lessor's accoullt.

Article 6. Rights of the Lessor:

6-l The Lessor or its representative(s) may enter into theT eased Property for inspection purposes ai all reasonabletimes during the Contract validity with a prior writtenintimation to Lessee. However, in the event of anyemergency and if required, the Lessor and its personnelshall have the right of free entry on and across the LeasedProperfy at anytime without prior written intimation to theLessee.

6-2 In the event of early termination of the Lease at theLessee's option, the Lessee shall serve the Lessor with athree (3) months prior notice and forfeit the rent paid inadvance. In the event the Lessee fails to observe the saidprior notice period, the Lessee shall be liable to pay

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Part - B LC:7722

penahy in an amount equivalent to the period not observed.

6.3 ln the event the Lessee shall commit a breach of theterms and condition of this Contract, rules and regulationsissued by the competent Authority, to which the LeasedlrogertV is subject to or commits any default, the Lessorshall have the right to ternrinate the Contract and demandfor immediate eviction of the Lessee, and repossess theLeased Property.

6-4 Upon termination of this Contract in accordance withthis Article, the Lessor shall have the right to immediatelylease out again the Leased property to aniy thlrd parry.

Article 7 Rights Granted to the Lessee

7-1. The full and free right ofaccess to and egress from theLeased Property, subject to any regulatiois which theLessor may from time to time impose for the safety andsecurity ofthe area.

!-2 The use of all pipes and cables which connect theLeased Property with main supplies of water, electricityand drainage either exclusively or jointly with other partsof the Lessor's premises.

7-3. The use of comnlon hallways and toilet facilities,subject to the payment ofapplicabli charges etc.

Article 8: EVENTS OF DEFAULT ANID TERMINATIONOF TFIE CONTRACT

8.1 This Lease Contract shall terminate upon expiry of itsterm unless renewed in accordance with Clause 9 hereof..

8.2 Any of the following shall be considered as Events ofDefault and shall be a ground for termination of theContract:

(a) If it is proven that the Lessee has used the LeasedProperty or allowed it to be used in a way causingdiscomfort, disturbance to others, harmful to the safety anJsoundness of the building, public health, deviating frompublic morals and discipline or prohibited by the UAIlaws and regulations.

(b) If it appeared that the Lessee has left the LeasedProperty, sub-leased, assigned or parted with possession of

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Part - B LC:7722

any part ofthe Leased_properfy or created any charge overthe Leased properfy without the Lessor,s *.ir,., approval.

(c) If the Lessee has violated any andlor all of theconditions of the Contract and was given notice in writingthereof and did not adhere to it withln hvo (2) weeks fromthe date ofsuch notification.

(d) In case the Lessee has become insolvent unless heoffered in suitable time securiry guaranteeing to the Lessorpayment of the due lease.

(") Lessee's failure to pay the rent on the due date.Bounced cheques shall be considered as a failure to pay therent on time and consequently as breach ofcontract.

(f) If Lessee causes environrnent pollution resulting insevere damages.

(g) If the Lessee violates any terms and conditions of thisLease Contract.

(h) If the Lessee violates any rules and regulations of theAuthority and fails to compound the same- by paying thepenalty as per said rules and regulations.

fi) If the Lessee enters into liquidation or bankruptcy orfails to renew the license within a month after its'expirywithout valid cause acceptable by the Lessor.

Article 9- Lease Renewal :

This Contract shall be renewable for the same period asstated in Part A (particulars) with the approval of both theParties and subject to the terms and conditions they havereached. In case either patty is not desirous to renew thisContract, it shall notiS/ the other party of such intention inwriting at least three (3) months before the expiration ofthis Lease Contract and the Lessee shall vacate the LeasedProperty at the expiry of the Lease period.

Article 10: GOVERNING LAW AND ruRISDICTION:

This Contract shall be governed by and interpreted inaccordance with Ras Al Khaimah applicable laws. In caseof any dispute arises out of this bontract between theParties in respect of its implementation, interpretation ortermination, such dispute shall be settled amicatly berweenthe Parties. Failure to reach an amicable settlemlnt withina month from the date of raising such dispute by either

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LC:7722

Party, the dispute shall be referred to RAK Civil Cour!er.nq. the competent court and having the exclusivejurisdiction.

Article I l- Language and Counterparts:

This Contract has been executed in both English andAra_bic languages in fwo (2) original counterparts, one forthe Lessor and the other one for the Lessee.

12- Non - Waiver of Rights

. Failure by either party to enforce at any time any of theprovisions of this Lease Contract or any rights in respectthereto shall not be construed u, u- *iir., of suchprovisions or rights or any ofthem or in any way affect thevalidity hereof. The failure of either party to .rf.o... any ofthe said provisions or rights shall not pieclude such partyfrom. later enforcing or exercising the same or any otherprovisions of the same or any other provision oi rightshereu nder.

Declaration:

By signing this Contract, the Lessee acknowledges that theLeased Property has been inspected and hand'ea over tohim by the Lessor, in good and tenantable condition andhelit agrees to abide with all the terms and conditions ofthis Contract and the Lessor also declares that it hasobtained a lawful title over the Leased properfy.

IN WITNESS TI{EREOF, this Lease Contract is signed onthe date first written above by the Lessor and Lessee ortheir duly authorized representatives.

For the Lessor:

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'tFor RAK lnvestment Authority

For the Lessee (^l*,

UTPAL KUMAR SENGUPTA

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