LEASE AGREEMENT
AT 179 SRIPHAYA ROAD, SRIPHAYA, BANGRAK, IN THE CITY OF BANGKOK
1 SEPTEMBER 2015
This agreement made between Buntanaphan Electric Company Limited by Mr. Tanongchai Chartpanich and Mrs. Siriporn Chartpanich authorized signatory and seal of the company located at 179 Sriphaya Road, Sriphaya, Bangrak, Bangkok hereinafter called the "LESSOR" with Dorma Far East (Thailand) Limited by Mr. Christian Bauszus and Mr. Phonlasit Khanchitworakun authorized signatory and seal of the company hereinafter called the "LESSEE" which in consideration of mutual benefits and promises herein, the parties agree as follows:
1. The Rental Place
The lessor agrees to rent/lease to the lessee and lessee agrees to rent/lease from the lessor, the premises located at 179 Sriphaya Road, Sriphaya, Bangrak, in the city of Bangkok, space 73 square meters which further in this agreement herein after called "THE RENTAL PLACE" to do the office of company's lessee
Prohibit the lessee takes the place in accordance with paragraph 1 for any purposes other than those specified in this agreement or unlawful business, illegal or contrary to public morality. Except with prior written consent of the lessor.
2. The Rental Fee and Fixed Term
The lessee agrees to rent/lease the leased premises for a period of 3 years, beginning 1st September 2015 and ending 31st August 2018 at following rate :
The first year of rental fee : 10,800 baht per month and services & facilities fee : 7,200 baht per month which is exclusive of VAT
The second / The third year of rental fee, the parties agree for new rents rate which increase rate and exclusive of VAT 10% per year by the lessor notice verbally or in writing of new rental rates to the lessee not less than 30 days before due date (31st July 2016), the first year of rental fee.
On the day of a formal agreement, the lessee pay the rent in advance in the amount of 18,000 baht. The payment of rental fee, the lessee will pay rent to the lessor in advance at lessor's office every 5th of the month.
The lessee is responsible for electricity cost which will be paid within 5 days from the date of receiving notice from the lessor. Services and facilities detail attached to this agreement as part of this agreement.
3. The lessor agrees to Dorma Far East Pte Ltd which is subsidiary of the lessee to take the place in section 1 as lease agreement dated 1 September 2015, hereinafter referred to as "The lessee's family" by entitled legal duty and whether or not exceeding the conditions defined in the lease agreement.
4. Insurance
At dated of agreement, the lessee give a deposit in the amount of 36,000 baht as security for any damage or loss the lessor may suffer. Deposits under this paragraph, prohibit the lessee to offset the rent. The lessee still further liability in case of default under the lease agreement.
During the lease term, if the lessee to breach of agreement whether or not comply with agreement to cause of damage to the lessor or external violation actions. The lessee agrees to offset with insurance for damage without prior notice. If that was not enough to offset the debt, the lessee must pay shortage amount within 7 days after noticed and also to complete fully paid of insurance amount as previous.
If the lease agreement ends whether any case or terminated by effective of law. The lessee agrees to compensate with damages and/or other expense (if any) as lessee's liable or the lessee must be responsible for external violation actions occurred without prior notice.
5. The lessor's duties
In the date of agreement, the lessor to deliver the lease premises in good condition.
6. The lessee's duties & responsibilities
Prohibit the lessee to sublease the premises to another person or allow others to use or benefit of the lease whether directly or indirectly unless prior written consent of the lessor.
In case the lessee is allowed to renovate or alter the premises. The lessee will be responsible for costs of the alteration. For fixture parts, the lessee agrees to be part of premises Or if the lessor requests the lessee to demolish by written notification, the lessee needs to perform decommissioning operations in original condition within 15 days. The lessee is responsible for demolition charge.
The lessee is responsible for paying rent until the lessee to complete the demolition.
If the lessor knows that the renovation, decoration, or altering the building by the lessee is caused of damaged. The lessee will need to complete demolition within 15 days after written notice received from the lessor and demolition operation cost is lessee's responsible.
8. The lessee must preserve the premises and property of the lessor carefully. If there are damaged, the lessee is required to maintain, repair in original condition by the lessee's own expense.
In case of the leased premises, property of the lessor/or third party has been damaged by the lessee's action not caution. The lessee will be responsible for compensation to the lessor or third party.
The lessee must maintain cleanliness to prevent the troubles as a nuisance and health deterioration or contrary to public morality or not hygienic or any other action resulting from damage to property of themselves, or other lessee, or the lessor, or who is assigned by the lessor.
9. In case the leased premises or any part of the leased premises are damaged or destroyed because of fire or caused by negligence or infringement actions of employee or family's lessee. The lessee is responsible for fees and damage claims in whole or in part until the damage has been restored to its original condition to the lessor.
In case the lessor or the lessor's employees know that the lessor or the lessee's employees may make a place rented or property of the lessor or third party damage. The lessee agrees to the lessor or who is assigned by the lessor to resolve and prevent the premises get danger/damage immediately without notice. If the lessee have been damaged by such actions in good faith of the lessor to prevent the damage then the lessor not liable for damages or compensate the the lessee.
10. In case the lessee failed to pay rental fee in section 2 or any of leases. The lessee agrees to the lessor or who is assigned by the lessor take possession of the leased premises immediately. And/or allow the lessor or representatives or delegates from the lessor to block, obstruct, lock the entrance of leased premises without notice until the lessee pay the rental fee or money to cover insurance completed.
The lessee agrees to the lessor or delegates from the lessor make a moving people, property of the lessee out from the rental place immediately by notice in advance no less than 7 days from default date. The lessee is responsible for expenses on the transportation and warehouse and other expenses.
Any action of the lessor or representatives or who is assigned by the lessor not considered an invasion, trespass to person's liberty both of civil and criminal. The lessee will not pursue any litigation against with the lessor, representatives, or who is assigned by the lessor.
No matter the conditions according to this agreement are defined if the lease is terminated, the lessee, the lessee's family can not move out from the leased premises. The lessee agrees to pay delay penalty as rate of 3,000 baht per day until the lessee and the lessee's family moving assets out from the rental place.
To return the lease premises when the lease is terminated. The lessee is require to deliver/return the premises in original condition as previous.
12. The lessee will take care premises not to deteriorate from the status quo while this agreement. If there is something broken, damaged the lessee is required to handle repairs and responsible for all expenses. If the lessee does not repair, the lessor has the right to repair what was damaged into good condition without the consent of the lessee. Also, the lessee is responsible for those expense is advance paid by the lessor without any dispute.
13. The lessor has the right to inform the lessee shall comply with agreement or terminate agreement or claim against the lessee immediately when the lessee is wrong, one of the agreements.
14. The lessee willing to pay interest at the rate 15% per year of the outstanding rental amount or the damages occur or other expenses such as debt collection cost.
15. The lessee agrees and shall facilitate the lessor or delegates of the lessor to inspect the leased property occasionally.
16. The lessee is responsible to pay house and building tax at the rate 12.5% per year within 15 days of receiving notice from the lessor.
If the lessee does not pay the bills, the lessee agrees to the lessor does suspension or discontinuance of the service facility immediately without further notice until the lessee will pay the bills.