NOW THEREFORE, both Parties hereto agree as follows:
Clause 1. Leased Property
1.1 The “Lessor” hereby agrees to lease out and the “Lessee” accepts to lease the “Leases Land” for both residential and office purposes only.
1.2 The “Lessor” certifies and warrants that the “Leased Land” is under neither any type of obligation nor encumbrance.
1.3 The “Lessor” agrees that, from the date of execution of this Lease Agreement, the “Lessor” is prohibited from creating any type of mortgage, encumbrance or any other obligation whatsoever on the “Leased Land”.