REPUBLIC OF GUYANA

COUNTY OF DEMERARA
LEASE AGREEMENT
BETWEEN
NATIONAL INDUSTRIES LIMITED
AND
AUTO SUPPLIES AND COMPANY LIMITED
ARTICLE ONE: PARTIES
1.
THIS LEASE IS ENTERED INTO THIS 1ST DAY OF JANUARY, 2013, BY AND
BETWEEN NATIONAL INDUSTRIES LIMITED SITUATED AT LOT 15 A WATER
STREET, SOUTH CUMMINGSBURG, GEORGETOWN, GUYANA, OR EXECUTORS,
ADMINISTRATORS, SUCCESSORS AND ASSIGNS HEREINAFTER REFERRED TO
AS THE LANDLORD AND AUTO SUPPLIES AND COMPANY LIMITED SITUATED
AT LOT 306 PETER ROSE STREET, QUEENSTOWN, GEORGETOWN, HEREINAFTER
REFERRED TO AS THE TENANT.
ARTICLE TWO: DESCRIPTION OF PREMISES
2.
THE LANDLORD HEREBY LEASES TO THE TENANT THE FOLLOWING
DESCRIBED PREMISES, TOGETHER WITH THEIR APPURTENANCES SITUATED AT
LOT 13 LAMAHA STREET, GEORGETOWN, GUYANA .
ONE - TWO STOREY CONCRETE CAST AND BLOCK STRUCTURE MEASURING
362.0 GROSS SQ. MT. SITTING ON A LOT MEASURING 1,004.4 SQ.
ARTICLE THREE: LEASE TERM
3.
THE TERM OF THIS LEASE SHALL BE FOR A PERIOD OF FIVE YEARS,
COMMENCING 1ST JANUARY 2013 AND ENDING 31ST DECEMBER 2017. THE
LANDLORD AGREES TO GRANT THE TENANT THE OPTION FOR RENEWAL OF
THE DEMISED PREMISES FOR A FURTHER PERIOD AT A RENT TO BE MUTUALLY
AGREED BETWEEN BOTH PARTIES.
ARTICLE FOUR: PAYMENT
4.
THE TENANT SHALL PAY THE LANDLORD FOR THE PREMISES RENTED ON THE
FIFTH DAY OF EVERY MONTH IN ADVANCE IN UNITED STATES DOLLARS CASH
CURRENCY AT THE TERMS:
US$2,300.00 (TWO THOUSAND THREE HUNDRED UNITED STATES DOLLARS)
PER MONTH COMMENCING 1ST JANUARY 2013 TO 31ST DECEMBER 2017
THE SECURITY DEPOSIT FOR THE SUM OF US$1,500.00 (ONE THOUSAND
FIVE HUNDRED UNITED STATES DOLLARS), WHICH WAS LODGED ON THE
SIGNING OF THE ORIGINAL LEASE DATED 1ST NOVEMBER 2004, SHALL
REMAIN IN FORCE AND SUBJECT TO ITS ORIGINAL TERMS AND
CONDITIONS.
ARTICLE FIVE:
5.
a) ANY CHANGES, ADDITIONS AND OR RENOVATIONS MADE TO THE
PREMISES MUST BE WITH WRITTEN APPROVAL FROM THE LANDLORD,
SUCH CONSENT NOT BE REASONABLY WITHHELD BY THE LANDLORD AND
THE COST OF SUCH CHANGES, ADDITIONS AND ALL MAINTAINANCE SHALL
BE BORNE BY THE TENANT.
b) LANDLORD RESERVES THE RIGHT TO ENTER THE PREMISES TO INSPECT
WITH 24HRS WRITTEN NOTICE TO THE TENANT.
c) THE TENANT SHALL NOT USE THE PREMISES OTHER THAN THE PERMITTED
USE AND NOT TO DAMAGE THE PREMISES OR ANY PART THEREOF.

ARTICLE SIX: TENANT RIGHTS AND RESPONSIBILITY

6.
THE TENANT SHALL, UNLESS HEREINAFTER SPECIFIED TO THE CONTRARY
MAINTAIN THE SAID PREMISES IN GOOD REPAIR AND TENANTABLE
CONDITION DURING THE CONTINUANCE OF THIS LEASE.
ARTICLE SEVEN: INSURANCE
7.
THE TENANT SHALL BE RESPONSIBLE FOR INSURANCE COVERAGE OF ALL
CONTENTS WITHIN THE SAID PROPERTY AND THE LANDLORD SHALL BE
RESPONSIBLE FOR THE INSURANCE OF THE BUILDING ONLY.
ARTICLE EIGHT: UTILITY CHARGES
8.
THE TENANT SHALL PAY ALL MONTHLY ELECTRICITY CHARGES,
TELEPHONE CHARGES AND WATER CHARGES TO THE END OF THIS
AGREEMENT.
THE LANDLORD AND THE TENANT HEREBY AGREE THAT AT THE
EXPIRATION OF THIS AGREEMENT THE TENANT SHALL DELIVER UP TO THE
LANDLORD THE RENTAL PREMISES AND INVITE THE LANDLORD TO
INSPECT THE PREMISES FOR ANY DAMAGES, IF ANY SAVE AND EXCEPT
FAIR WEAR AND TEAR.
THE LANDLORD ACCEPTS FULL AND SOLE RESPONSIBILITY FOR THE
PAYMENT OF RATES AND TAXES WHICH ARE OR MAY BE ASSESSED BASED
ON RESIDENTIAL VALUE OF THE PREMISES.
ARTICLE NINE: SUBLETTING
9.
THE TENANT IS NOT ALLOWED TO ASSIGN, SUBLET OR PART IN ANY WAY
OF THE PREMISES WITH WRITTEN PERMISSION FROM THE LANDLORD.

ARTICLE TEN: NOTICE

10.
THE TENANT OR THE LANDLORD SHALL GIVE FOUR (4) MONTHS
WRITTEN NOTICE IN ADVANCE IF EITHER PARTY WISHES TO
TERMINATE THIS LEASE.
IN WITNESS WHERE OF THE PARTIES HAVE HEREUNDER SET THIER HANDS IN THE
PRESENCE OF SUBSCRIBING WITNESSES DATED THIS 1ST DAY OF JANUARY, 2013

THE LANDLORD:

THE TENANT

NATIONAL INDUSTRIES LTD.

15A WATER STREET
GEORGETOWN, GUYANA

AUTO SUPPLIES AND COMPANY

Witnesses
1.
2. ..

REPUBLIC OF GUYANA
COUNTY OF DEMERARA

LEASE AGREEMENT
BETWEEN
NATIONAL INDUSTRIES LIMITED
AND
AUTO SUPPLIES AND COMPANY LIMITED
ARTICLE ONE: PARTIES
1.
THIS LEASE IS ENTERED INTO THIS 1ST DAY OF JANUARY, 2008, BY AND
BETWEEN NATIONAL INDUSTRIES LIMITED SITUATED AT LOT 15 A WATER
STREET, SOUTH CUMMINGSBURG, GEORGETOWN, GUYANA, OR EXECUTORS,
ADMINISTRATORS, SUCCESSORS AND ASSIGNS HEREINAFTER REFERRED TO
AS THE LANDLORD AND AUTO SUPPLIES AND COMPANY LIMITED SITUATED
AT LOT 306 PETER ROSE STREET, QUEENSTOWN, GEORGETOWN, HEREINAFTER
REFERRED TO AS THE TENANT.
ARTICLE TWO: DESCRIPTION OF PREMISES
2.
THE LANDLORD HEREBY LEASES TO THE TENANT THE FOLLOWING
DESCRIBED PREMISES, TOGETHER WITH THEIR APPURTENANCES SITUATED AT
LOT 13 LAMAHA STREET, GEORGETOWN, GUYANA .
ONE - TWO STOREY CONCRETE CAST AND BLOCK STRUCTURE MEASURING
362.0 GROSS SQ. MT. SITTING ON A LOT MEASURING 1,004.4 SQ.
ARTICLE THREE: LEASE TERM
3.
THE TERM OF THIS LEASE SHALL BE FOR A PERIOD OF FIVE YEARS,
COMMENCING 1ST JANUARY 2008 AND ENDING 31ST DECMBER 2012. THE
LANDLORD AGREES TO GRANT THE TENANT THE OPTION FOR RENEWAL OF
THE DEMISED PREMISES FOR A FURTHER PERIOD AT A RENT TO BE MUTUALLY
AGREED BETWEEN BOTH PARTIES.
ARTICLE FOUR: PAYMENT
4.
THE TENANT SHALL PAY THE LANDLORD FOR THE PREMISES RENTED ON THE
FIFTH DAY OF EVERY MONTH IN ADVANCE IN UNITED STATES DOLLARS CASH
CURRENCY AT THE TERMS:
US$1,800.00 PER MONTH COMMENCING 1ST JANUARY 2008 TO 31ST
DECEMBER 2012
THE SECURITY DEPOSIT FOR THE SUM OF US$1,500.00 (ONE THOUSAND
FIVE HUNDRED UNITED STATES DOLLARS), WHICH WAS LODGED ON THE
SIGNING OF THE ORIGINAL LEASE DATED 1ST NOVEMBER 2004, SHALL
REMAIN IN FORCE AND SUBJECT TO ITS ORIGINAL TERMS AND
CONDITIONS.
ARTICLE FIVE:
5.
d) ANY CHANGES, ADDITIONS AND OR RENOVATIONS MADE TO THE
PREMISES MUST BE WITH WRITTEN APPROVAL FROM THE LANDLORD,
SUCH CONSENT NOT BE REASONABLY WITHHELD BY THE LANDLORD AND
THE COST OF SUCH CHANGES, ADDITIONS AND ALL MAINTAINANCE SHALL
BE BORNE BY THE TENANT.
e) LANDLORD RESERVES THE RIGHT TO ENTER THE PREMISES TO INSPECT
WITH 24HRS WRITTEN NOTICE TO THE TENANT.
f) THE TENANT SHALL NOT USE THE PREMISES OTHER THAN THE PERMITTED
USE AND NOT TO DAMAGE THE PREMISES OR ANY PART THEREOF.
ARTICLE SIX: TENANT RIGHTS AND RESPONSIBILITY
6.

THE TENANT SHALL, UNLESS HEREINAFTER SPECIFIED TO THE CONTRARY

MAINTAIN THE SAID PREMISES IN GOOD REPAIR AND TENANTABLE
CONDITION DURING THE CONTINUANCE OF THIS LEASE.
ARTICLE SEVEN: INSURANCE
7.
THE TENANT SHALL BE RESPONSIBLE FOR INSURANCE COVERAGE OF ALL
CONTENTS WITHIN THE SAID PROPERTY AND THE LANDLORD SHALL BE
RESPONSIBLE FOR THE INSURANCE OF THE BUILDING ONLY.
ARTICLE EIGHT: UTILITY CHARGES
8.
THE TENANT SHALL PAY ALL MONTHLY ELECTRICITY CHARGES,
TELEPHONE CHARGES AND WATER CHARGES TO THE END OF THIS
AGREEMENT.
THE LANDLORD AND THE TENANT HEREBY AGREE THAT AT THE
EXPIRATION OF THIS AGREEMENT THE TENANT SHALL DELIVER UP TO THE
LANDLORD THE RENTAL PREMISES AND INVITE THE LANDLORD TO
INSPECT THE PREMISES FOR ANY DAMAGES, IF ANY SAVE AND EXCEPT
FAIR WEAR AND TEAR.
THE LANDLORD ACCEPTS FULL AND SOLE RESPONSIBILITY FOR THE
PAYMENT OF RATES AND TAXES WHICH ARE OR MAY BE ASSESSED BASED
ON RESIDENTIAL VALUE OF THE PREMISES.
ARTICLE NINE: SUBLETTING
9.
THE TENANT IS NOT ALLOWED TO ASSIGN, SUBLET OR PART IN ANY WAY
OF THE PREMISES WITH WRITTEN PERMISSION FROM THE LANDLORD.

ARTICLE TEN: NOTICE

10.
THE TENANT OR THE LANDLORD SHALL GIVE FOUR (4) MONTHS
WRITTEN NOTICE IN ADVANCE IF EITHER PARTY WISHES TO
TERMINATE THIS LEASE.
IN WITNESS WHERE OF THE PARTIES HAVE HEREUNDER SET THIER HANDS IN THE
PRESENCE OF SUBSCRIBING WITNESSES DATED THIS 1ST DAY OF JANUARY, 2008

THE LANDLORD:

THE TENANT

NATIONAL INDUSTRIES LTD.

15A WATER STREET
GEORGETOWN, GUYANA

AUTO SUPPLIES AND COMPANY

Witnesses
2.
2. ..