LICENCE FOR THE USE OF COMMON AREAS
IN _____ _____ PVT LTD
AGREEMENT FOR THE LEASE OF ADVERTISEMENT
THIS AGREEMENT made on this 01st day of June Two Thousand and Eleven between the ________ _________ (PVT) LTD CONDOMINIUM PLAN NO.4014 a body incorporated under the Apartment Ownership law Amendment Act No.45 of 1982 having its Registered Office at the First Floor New Wing No: 320, Wellawatta Mawatha Colombo - 14 in the Democratic Socialist Republic of Sri Lanka [hereinafter referred to as "_ _ PL"which term where the context so requires or admits shall mean and include the said _ _ PL its successors and assigns] of the ONE PART and BAASEL SOLUTIONS, No. 282/1, Main Street, Colombo- 04 [hereinafter called and referred to as " The User"] which term shall where the context so requires or admits shall mean and include the said RASEL SOLUTIONS and her heirs executors and administrators] of the OTHER PART.
W I T N E S S E T H
WHEREAS the Management Corporation is the owner of the common areas of the property called "_ _ PL" situated at No. 320, Wellawatta Mawatha Colombo - 14 [hereinafter referred to as "the Premises"].
AND WHEREAS the Corporation has agreed to grant a license to the User to display 02 Nos. 42” LCD TV Screen sets on the Walls of Lobby at New Wing and Lobby # 1 in Ground Floor [hereinafter called and referred to as " the advertisement"] within the "_ _ PL" demarcated by the Corporation and agreed by the parties hereto.
NOW THIS AGREEMENT WITNESSETH AND IT IS HEREBY AGREED BY AND BETWEEN THE PARTIES HERETO AS FOLLOWS: -
1. The "_ _ PL" hereby grants a license to the User to display the Advertisement at the place demarcated by the Management Corporation in the said premises for a period of one (1) year commencing on 01st day of June, 2011 and ending on 31st May 2012.
2. That the User hereby covenants and agrees with the Corporation as follows. One Hundred And Thirty Seven Thousand One Hundred Forty One Cents Seventy Six
(i) A sum, of Rupees One Hundred And Thirty Seven Thousand One Hundred Forty One Cents Seventy Six as license fees shall be paid for first six months by the User to the "_ _ PL", when the agreement is signed (i.e. Rs. 120,000/= Plus Taxes). The balance Rs. 137,141.76 shall be paid before November 30, 2011. Any other, impositions or levies payable to the government will apply.
(!!) M/s. Baasel Solutions has to pay the Corporation for electricity consumed on monthly basis, Rs. 45.00 per unit (kwh) together with VAT and/or any other, impositions or levies payable to the Government.
3. At the end of one year period if the user does not opt to renew, at a Lease Rent and terms and conditions determined at that time, by the Liberty Plaza Management Corporation, occupant will have to vacate premises.
4. The User shall not display any advertisement or sign that may be contrary to the law morality or offend any religious susceptibility of any member of the Public or which in opinion of the Corporation is in conflict with the interests of the "_ _ PL"or any occupants at "_ _ PL". The User further agrees and undertakes to abide by the decision of the Corporation in this regard which shall be final conclusive and binding
5. The Corporation shall not be liable in any way for any damage howsoever caused to any advertisement or structure due to voltage fluctuations water damage or any other natural cause or reason.
6. In the event of prohibitions of exhibiting any advertisement at the said location by any authority or institution that is beyond the control of the Corporation shall not be liable for any expenses damages or loss of income or profits incurred by the User
7. Any notice with regard to these presents shall be in writing and shall be sufficiently served on the parties if left addressed to them to their respective Registered Office addresses.
8. Either party may terminate these presents prior to the expiry of this agreement by giving two (2) calendar months notice in writing of their intention of terminating these presents and in such event this agreement shall stand determined and terminated.
9. If the user breaches any of the term, the Corporation shall be entitled to withdraw electricity or any other facilities supplied to the user.
10. If the user fails to pay in full, in advance, for the period of renewal, the Corporation reserves the right to terminate the contract and remove the advertisement and sell this space to another advertiser.
11. IN WITNESS WHEREOF THE ________ _________ (PVT) LTD CONDOMINIUM PLAN NO.4014 and BAASEL SOLUTIONS caused their respective Common Seal to be affixed hereto and two others of same tenor and date on the date month and year above written.
THE COMMON SEAL OF THE WITHINNAMED ]
________ _________ (PVT) LTD ]
CONDOMINIUM PLAN NO.4014 is hereto ]
Affixed in the presence of EDMAND ARUNALOKA ]
(Chairman] and ARAVINDA JE (Director) ]
who do attest the sealing thereof ]
THE COMMON SEAL OF THE WITHINNAMED ]
BAASEL SOLUTIONS is hereto affixed ]
in the presence of TOMMY WEJENDRA who do attest the ]
sealing hereof ]