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LEASE DEED
This DEED OF LEASE is made on this the 1st day of March in the year Two Thousand and
Seventeen of the Christian Era at Dhaka, Bangladesh.
The LESSEE & LESSOR both party have mutually agreed to this deed and both party have signed
dated 1st January, 2017 in the presence of two (02) witnesses (signature attested bottom side of
this deed).
The LESSEE will have to pay two months (02) rent which is equivalent to BDT 5, 89,000 excluding
VAT & AIT as penalty if they do not take lease from the above date which is 1st day of March
2017.
BETWEEN
Mr. Md. Moniar Hossain Son of Late Md. Situ Bapari, DOB 1 st July 1962 , Awal Centre (12th floor
), 34 Kemal Ataturk Avenue, Banani commercial Area, Dhaka-1213, Bangladesh, hereinafter
referred to as the LESSOR (which expression where the context so admit, shall mean and include
his heirs, successors-in-interest, legal representatives, assigns and nominees) OF THE ONE PART.
AND
Murata Machinery Bangladesh Ltd . registered Company operating its business in Bangladesh
under The Company Act-1994.
The LESSOR is the owner of a space admeasuring 3100 (Three Thousand One Hundred) Sqft ,
including common area, at the 5 th Floor of Paradise Tower, Uttara, Bangladesh being, Plot No. 11,
Sector 03, Thana: Uttara, District: Dhaka-1230 respectively together with its fitting, fixtures and
appurtenances, more particularly described in the schedule A below, the entire space as
aforesaid Schedule A hereinafter to be called as the LEASED PREMISES.
AND WHEREAS the LESSEE has decided to open a Corporate office at Uttara of Dhaka and a such
is in need of an office space to operate their business and had approached to the LESSOR to let
out the space for a period of 3(Three) years which is renewable by mutual discussion of both
parties by 12% rent increase from existing rent.
AND WHEREAS, the LESSOR has agreed to let out the Leased Premises to the LESSEE, and the
LESSEE has agreed to take the Leased Premises on lease for a period of 6 years commencing on
or from 1 st March 2017 until 1 st March 2022 , for itself on a monthly rental basis, subject to the
covenants, burdens, encumbrances, conditions & stipulations contained in this Agreement.
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AND WHEREAS the parties hereto have mutually agreed to the following terms and conditions.
NOW THIS DEED WITNESSETH AND THE PARTIES HERETO MUTUALLY AGREE AS UNDER.
1. PREAMBLE, HEADERS, NUMBERS AND GENDER
1.1 The preamble to the Agreement is an integral part thereof.
1.2 The headers are meant for the ease of reading only and have no legal consequence to the
interpretation of this agreement.
1.3 The singular includes the plural and vice versa.
1.4 “Person” includes a firm, body corporate, an unincorporated Owners Association or an
authority.
2. DEFINITIONS:
In the Agreement, the following terms will have the following meaning, unless otherwise stated
explicitly in the Agreement body:
2.1 “Advanced Rent” shall mean the payment made in advance as defined and described in
Article 4 below.
2.2 “Owners Association” or “Building Management Committee” shall mean the management
association of the Premises formed by the owner(s) of the Premises.
2.3 “Common Areas” shall mean those areas of the Premises including the land that are used
in general by the tenants/owners of the Premises and their guests.
2.4 “Leased Premises” shall mean the area of the said Commercial Building which has been
taken on Lease by the LESSEE along with a parking space designed at 2 nd Basement
Parking.
2.5 “Floor Lobby” means the lifts and the stair lobby of that particular floor which shall mainly
be used by the LESSEE , but is also accessible to the others present in the Premises.
2.6 “Interior finish out” shall mean all such interior and exterior works that necessitates the
LESSEE to do with in the LEASED PREMISES upon handing over the by the LESSOR .
2.7 “Rent” means the payment as defined and described in Article 4 below.
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2.8 “Lease Period” means the period defined in Article 3.1 below.
2.9 “Termination” means the termination prior to the completion of the Tenancy Period, as
described in Article 8 below.
2.10 “AlT” means the Advance Income Tax, the tax which is deducted at source on Rental
Payments as applicable under the laws of Bangladesh.
2.11 “Utilities” means supply such as electric power, gas, water and disposal of sewerage.
3. LEASE PERIOD:
3.1. That in consideration of the rent, covenant, terms and conditions set forth herein, the
LESSOR hereby leases unto the LESSEE the ‘Leased Premises’ for a period of 6 years
commencing on and from 1 st March 2017 until 1 st March 2022 , with an option on the
part of the LESSEE to renew this Lease agreement for a further period on expiry of the
initial lease period on the mutual understanding of the both parties. Provided that the
LESSEE shall, in such an event, give a written notice of its intention to do so at least Six (6)
months before the date of expiry of this lease.
4. RENT:
That the rent for the 3100 square feet leased out to the LESSEE shall be paid in the
following manner:
4.1 That at the time of ‘execution’ of this Lease Deed, the LESSEE shall pay to LESSOR a sum
of TK. 17,67,000/- (In words-Taka Seventeen Lac Sixty Seventy Thousand Only) as an
advance equal to 6 (six) months rent and the LESSOR shall issue the receipt of the above
money, and hand over the possession of the LEASED PREMISES to the LESSEE. The
advance will be treated as security deposit and that will be adjusted by monthly
amounting on Tk. 49,085/= (Taka Forty nine thousand eighty five only) equally from the
actual monthly rent amount.
Provided that the LESSOR will effect the term ‘execution’ from the handover of
possession to LESSEE .
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4.2. That the monthly rent for the tenancy of the LEASED PREMISES of 3100 square feet shall
be:
Month Rent Per Sqft Monthly Total Rent
From 1 to 36 Tk. 95 Tk.2,94,500/-
Advance income tax (AIT) and Value added tax (VAT) as detailed in Clauses 4.4.1 and 4.4.2
below, the LESSEE shall pay the LESSOR the balance monthly rent.
4.3 TK. 17,67,000/- (In words-Taka Seventeen Lac Sixty Seventy Thousand Only) shall be
paid to the LESSOR by the LESSEE on the signing date of this agreement as an advance
rent.
4.4 To pay all charges to the Owners Association/ Building Management Committee in
respect of utilities for the Leased Premises at Tk. 10 per sft. This service charge can be
increase or decrease time to time at actual utility cost of the building. Before formation of
the Owners Association/Building Management Committee the LESSEE shall pay service &
maintenance charge to the LESSOR by a separate Cheque / Payment Order or through an
account.
4.4.1. AIT on total monthly rent shall be deducted at the time of payment (or any payment in
the form of MONTHLY RENT) of rent as per Income Tax Ordinance 1984 as amended from
time to time. Applicable AIT to the LESSOR by the LESSEE within 7(seven) days of each
English calendar month.
4.4.2. VAT on total monthly rent will be paid to the Government or its authority by the LESSEE
@ 9% on the rent amount as per VAT rules (SRO # 105-Ain/2009/513-Mushak) within
7(seven) days of each English calendar month.
4.4.3. In the event of earlier termination under clause 7 or for any other reason whatsoever the
advance shall be refunded by the LESSOR to the LESSEE within 90 days from the date of
receiving the demand for such refund from the LESSEE .
PROVIDED THAT in the event of the LESSOR failing to refund the aforesaid advance
amount within the aforesaid date, the LESSEE shall have an unqualified right to sublet the
LEASED PREMISES and shall be free to choose any of the legal remedies available to it for
recovering the aforesaid advance.
5. MODE OF PAYMENT:
5.1 All payments shall be made by the LESSEE through an account to the LESSOR’s name.
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5.2 LESSEE shall pay monthly Rent to LESSOR as described in Article 4 after adjustment of
AlT on the total monthly Rent on or before the 7th day of each current month.
5.3 LESSOR shall provide rent receipts to the full satisfaction of the LESSEE , for payments at
the time of payment.
6. EXTENSION:
6.1 LESSEE shall give written notice to LESSOR of its intention to extend the Agreement at
least three (3) months before the expiry of the Lease Period.
6.2 LESSOR shall give consent or refusal/approval in writing within thirty (30) days of
receiving the said notice from LESSEE .
7. TERMINATION:
7.1 This Lease cannot be terminated by either party within the first 3 (Three) years of the
Lease Period. However, the Deed may be terminated by either Party giving 6 months
written notice to the other party in the following circumstances:
7.1.1 In the event of the LESSEE fails to pay the monthly rents for three (3) consecutive months
without assigning any reason. In such event the unpaid rent so accrued shall be adjusted
from the advance.
7.1.2 In the event that the LESSEE be constrained by reason of:
a) Its decision to close down its office or to remove it from Bangladesh, or in the
event it acquires its own property in Bangladesh or for any reason whatsoever;
OR
b) On failure of the LESSOR to fulfill any of the conditions of this lease where this
lease specifically provides no other remedy for such failure.
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7.2 Termination or expiry of the Deed shall not affect any rights of the Parties that have
accrued prior to the termination or expiry.
7.3 The LESSEE shall be at liberty to terminate the lease upon giving a written notice for three
(03) months in advance to the LESSOR of its intention to do so without the LESSOR being
entitled to payment other than the rental due on the date and fund any claim regarding
any damages of ‘Leased Premises’ . This shall be applicable after completing Two (02)
years of tenancy.
PROVIDED THAT in the circumstances when [7.1.2 (b)] of this sub-clause shall be
attracted, the LESSEE shall have an option, instead of terminating the lease as
hereinabove, to take any such measure as it may deem necessary to establish the
conditions contemplated by this lease at the entire expense of the LESSOR.
8. LESSEE’S COVENANTS:
LESSEE hereby covenants as follows:
8.1 To pay the Rent to LESSOR at the time and in the manner aforesaid.
8.4 To use the Leased Premises only as office either by itself or in common with its affiliated,
related or subsidiary companies.
8.5 Not to assign or sub-let the Leased Premises or any portion thereof, except for the
provision as stated in sub clause 4.4.3 to LESSEE’ s affiliated, related or subsidiary
companies, which shall not be subject to LESSOR’s approval.
8.6 LESSEE shall keep the Leased Premises clean and carry out minor repairs if necessary and
maintenance of the Leased Premises at the cost of LESSEE.
8.7 LESSEE shall not carry out any structural alterations or additions to the Leased Premises
or demolish any part thereof except with the prior approval of LESSOR .
8.8 LESSEE shall be responsible for keeping the Leased Premises in good and tenantable
condition. If any damage or breakage is caused due to the negligence of the LESSEE , to
the Leased Premises, LESSEE shall bear the cost of repairs.
8.9 LESSEE will, at the expiration of the Tenancy Period or any premature termination
thereof, peaceably and quietly surrender to LESSOR the vacant possession of the Leased
Premises.
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8.10 LESSEE shall be responsible for security within the Leased Premises starting from the date
of handover of the same to LESSEE.
8.11 LESSEE shall not store, bring onto, use or release any hazardous materials or
manufacture, produce or carry on any activity which creates or leads to the creation of
any hazardous materials or do anything which may endanger the safety or be a nuisance
to the other LESSEEs and users.
9. LESSOR`S COVENANTS:
LESSOR hereby covenants as follows:
9.1 LESSEE shall, paying the rent and performing the covenants herein contained, peaceably
hold, access and enjoy the Leased Premises without any interruption from LESSOR or any
person rightfully claiming hereunder, in trust for him successor or any other person
whomsoever.
9.2 LESSOR shall provide central fire detection systems with fire-hose and pump for
firefighting system. LESSOR shall also provide adequate numbers of smoke and heat
detectors for central fire detection systems. The Owners Association/Building
Management Committee shall maintain a control room along with adequate number of
personnel to monitor and respond on any emergency in respect of the safety and security
of the building:
9.3 LESSOR shall keep all and revenue, municipal taxes and all other Government dues paid
and updated.
9.4 The Title to any equipment, machinery or fixtures installed by LESSEE shall remain with
LESSEE at all times.
9.5 After handing over the Leased Premises to LESSEE , LESSOR shall not do anything to
offend the security and safety to the Leased Premises and the employees of LESSEE , even
while construction work is in progress.
9.6 LESSOR shall manage, maintain and keep secure the Premises so as to ensure a conducive
atmosphere for commercial activities free from any kind of nuisance and disturbance
whatsoever.
9.7 LESSEE shall allow the Leased Premises to be inspected by LESSOR and or its authorized
representative at any time during office hour subject to prior approval of LESSEE .
9.8 LESSOR shall ensure that the electricity load and water supply to the Premises are
adequate and that the operations of LESSEE will not be disrupted, subject to availability of
services from the respective Govt. Authorities.
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9.9 The Owners Association shall keep the lifts, utilities and other necessary equipment, and
related permits of the Premises, in good order, serviceable and available to be used at all
times.
9.10 The Owners Association shall keep interior common areas, and the exterior of the
Premises adequately lit and any fused light bulbs shall be replaced promptly at the
Owners Associations cost.
10. PROVIDED ALWAYS AND IN IT HEREBY EXPRESSLY AGREED AS FOLLOWS:
10.1 The LESSEE shall be entitled to install air conditioners, communication equipment,
security containers and all other appliances and fixtures including security door locks, that
may be desirable in the ‘Leased Premises’ and remove the same within fortnight from the
termination of the lease.
10.2 In the event that the ‘Leased Premises’ or any part thereof is requisitioned by the
Government of Bangladesh, or any other legislative authority or the ‘Leased Premises’
are sold to a third party who is unacceptable to the LESSEE , the LESSEE, shall have the
option of terminating this lease from the date of such requisition or ownership without
the LESSOR or his successor or assigns being entitled to any payment other than the
rental accrued to the date the LESSEE surrenders the ‘Leased Premises’ . Should the
‘Leased Premises’ be sold and the LESSEE elect to remain therein the LESSOR undertakes
to assure that the purchaser undertakes to accept all the LESSOR’ s rights and obligations
of this lease.
10.3 As long as the LESSEE pays the rent observes and performs the various covenants herein
on his part contained, neither the LESSOR nor anyone acting on his behalf or rightfully
claiming under him or otherwise howsoever shall disturb the LESSEE in its peaceful and
uninterrupted occupation and enjoyment of the ‘Leased Premises’ .
10.4 The LESSEE shall not be responsible for any repairs or replacement made necessary as a
result of damage to the ‘Leased Premises’ caused by fire, civil disturbance, riot,
vandalism, aircraft and other aerial devices, war, floods, earthquakes or force majored.
The LESSOR may insure the building, fixtures, furnishings and equipment owned by the
LESSOR against damage by fire. In the event that the LESSOR decide to self- insure, the
LESSOR shall and does hereby hold the LESSEE harmless for any loss or damage to the
‘Leased Premises’ resulting from the risks aforesaid.
10.5 The LESSOR shall indemnify and hold LESSEE harmless from any and all liability, damages,
claim and expenses which may relate to damage or injury to any person or to the goods
of any person arising from LESSOR’ s failure to keep the ‘Leased Premises’ in good
condition as provided herein.
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10.6 Except for causes due to the fault or negligence of the LESSOR , furniture and equipment
owned by the LESSEE and its personnel shall be and remain at the LESSEE’ s sole risk.
Insurance against loss or damage of fixtures, furniture’s, equipment owned by the LESSEE
and its personnel, shall be at the option of the LESSEE .
10.7 No change, variation, or modification of the terms and conditions set forth herein shall be
valid unless incorporated as AMENDMENT to this Deed of Tenancy signed by the parties.
10.8 All notices and communications under the Agreement shall be deemed given when given
in writing either by hand, post, facsimile or any electronic media, including traced e-mail,
addressed to the following:
FOR LESSOR: FOR LESSEE:
Md. Moniar Hossain
Awal Centre (12 th Floor), 34, Kemal
Ataturk Avenue, Banani C/A, Dhaka-1213
Phone: 02982216
E-mail: saleh_hossain@hotmail.com
10.9 All questions, disputes or differences whatsoever which may at any time arise between
the parties hereto or their respective representatives touching these presents or the
subject matter hereof or arising out of or in relating thereto respectively and whether as
to construction or otherwise which is not settled by negotiation or other agreed mode of
settlement shall be submitted to the Arbitration of a single arbitrator to be appointed by
the parties hereto at the request to either party. The provisions of Arbitration Act, 2001
shall apply. The parties hereto agree to be bound by any Arbitration award rendered
under this clause as the final adjudication.
SCHEDULE ‘A’ OF THE LEASED PREMISES
5 th Floor measuring 3100 sq. feet of the building named Paradise Tower , located at Plot # 11,
Sector-3, Thana: Uttara, District: Dhaka, Bangladesh.
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IN WITNESS WHEREOF the Parties hereto sign and execute the Agreement on the day, month
and year aforementioned.
FOR AND ON BEHALF OF LESSOR SIGNATURE
Md. Moniar Hossain
Awal Centre (12 th Floor), 34, Kemal Ataturk
Avenue, Banani C/A, Dhaka-1213 :
FOR AND ON BEHALF OF LESSEE SIGNATURE
:
WINTESS: SIGNATURE
1)
2)
:
: