The term of the lease shall be a period of 30 (Thirty years) commencing from the date the parties has completed the registration of the lease at the Land Office (the longest lease period according to present Thai Law). The lessor guarantees to renew the lease period for a second and third period of 30 years, in total 30+30+30 years. If Thai Law will change and permit longer lease periods than 30 years, the Lessee is entiteled to change the lease periods. If Thai law change and permit ownership of the land for the Lessee, the Lessor shall transfer the ownership of the land to Lessee without extra cost other than fulfillment of rental payment of ongoing lease period of 30 years.
The Lessee shall bear the cost of the Registration fee and every expenses in relation to the registration of the Lease or all cost about transfer the ownership of the Land.