Please note the following matters pertaining to the Lease Agreement:
(1) The new clauses added to the Lease Agreement dated 15 March 2015 (absent from Lease Agreement dated 4 May 2012) are as follows: 5.05, 6.29, 11.02 (first sentence) and 12.
(2) We would like to make the following amendments to the clauses on “Insurance” (Clause 13):
- 13.01 The parties agree that the Lessee shall take out insurance to cover All Risks or opt to self- insure in respect of his own property, fixtures and fittings and in case of damage shall utilize the proceeds from his insurance or his own funds to restore and repair his property, fittings and fixtures to the original condition.
- 13.02 The language in clause 13.02 is not acceptable and does not make sense and needs to be reworded. We will suggest to remove entire clause.