Kingdom of Cambodia
Nation, Religion, King
Lease Agreement
This Lease Agreement is hereby entered into between Party A (Landlord / Co-Owner) and Party B (Tenant), who shall collectively be known herein as the Parties.
Landlord / Co-Owner Name:
Herein after referred as to Party A
Head Tenant Name: China National Aero-technology international Engineering Corporation which represented by Mr. XIE FUKANG, Sex: Male, Passport No: G3*******
Herein after referred as to Party B
Whereas:
A. Party A is the Officer Owner of Building No.777, St. Kampucheakrom (128), Sangkat Toek Laok 1, Khan Toulkort, Phnom Penh, Cambodia and agrees to Lease to Party B the Building floor 2th.
B. The Term of the lease shall be 1 year and shall commence on 2-June-16 and terminate on 1-June-17
C. Party A and Party B agree to lease the 2ed floor Unit within the Building for office purposes only.
This Lease Agreement between Party A and Party B Co vers the Following Articles:
Article 1: Definitions:
In this Agreement:
“Term” means the period of this Agreement which shall be from the commencement date to the termination date of this Lease Agreement (for greater certainty, this period shall include both the commencement date and the termination date as set out herein).
“Extension” means an option of extension to this Lease Agreement to mutually agreeable terms and conditions outlined in this agreement.“Contents” means all furniture, furnishings and other items set out in the Inventory List attached to this Lease Agreement.
Article 2: Rental Fee
Rental accommodation fee USD $1,600.
Party B agrees to pay $1,6000 (US Dollars) per month to party A (Exclude WHT10%).
The one year Rental Fee is due pay at once after sign the contract.
If Party B makes late payment of the Rental Fee beyond seven (7) days or more after received invoice from Party A, Party B shall on demand made by Party A, become accountable to pay interest on all arrears at the rate of ten percent (10%) of rental fee per month, calculated from the date on which any outstanding amounts became due for payment, until the date of actual payment.
Any renewal of this agreement will be based up on open and forthright negotiations between Party A and Party B that shall be calculated through bench marking open market rental rates. The ultimate authority to renew this lease agreement and any Rental Fee associated with any such renewal exists with Party A only.
Article 3: Lease Agreement Extension
Party B shall inform Party A about an intention to extend the Lease Agreement at least (two) 2 month befo re the specified termination date as stated in this Lease Agreement, and Party A shall at his/her own discretion agree or disagree on this request.
Article 4: Deposit
Up on signing of this Lease Agreement by both Parties, Party B shall pay Party A the security deposit with amount of US$ 3,000 (Three Thousand US Dollars Only).
The Deposit shall not be used to pay for rental fee, but will be refunded to Party B at the end of the Term as set -out herein. In the event that Party B cannot continuously rent or terminates renting during the Term of this Lease Agreement, This deposit money shall be forfeited by Party B.
At the termination of this Lease Agreement, if any damage to the structure of the Premises or Building or the fixtures, furnishings or contents of the Premises exists, as a result of undeliberate or deliberate actions of Party B, then Party B is responsible to reinstate the Premises In any such case, Party B shall restore the Premises and/or Building as requested by Party A .