Lease Agreement for a Room in Building
at Bangkok International Airport
Agreement No. 1-07/2539
This agreement is made at Airports Authority of Thailand on 15 January 1997
between Airports Authority of Thailand, represented by Air Chief ▇▇▇▇▇▇▇ ▇▇▇▇▇▇
Chantrubeksa, Governor of Airports Authority of Thailand, hereinafter called
"the Lessor" of one part, and J.M.T. Duty Free Co., Ltd., registered as a
juristic person Company Limited under the Civil and Commercial Code, with the
head office at ▇▇▇/▇▇-▇▇ ▇▇▇▇▇▇▇▇▇ ▇▇▇▇, ▇▇▇▇▇ Lumpini, Khet Pathumwan, Bangkok,
represented by Mr. Viratana Suntaranond, the authorized person to enter juristic
act binding J.M.T. Duty Free Co., Ltd., hereinafter called "the Lessee" of the
other part.
Whereas the Lessor agrees to lease out and the Lessee agrees to lease the
property of the Lessor for the purpose of making it an office of the Lessee.
Therefore, both parties agree to enter into an agreement, as follows
The Lessor agrees to lease out and the Lessee agrees to lease the property
under the terms and conditions in the "Agreement on Lease" and the Annexes
which shall be deemed part of this agreement :
Annex A Details of the leased property, lease period, rents, fees and
charges, chart showing location of the leased premises
Annex B Guarantee on Lease
Annex C Documentary evidence of registration as a juristic person of the
Lessee, and document showing authorization to sign as the Lessee
Annex D Others (if any)
This agreement is made in duplicate. Both parties, having read and understood
it entirely, hereunder sign their names and affix seal (if any) in the presence
of witnesses and each retaining one copy.
The Lessor The Lessee
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▇▇▇▇▇▇ Chantrubeksa
(Signed) Air Chief Marshal (Signed)
(▇▇▇▇▇▇ Chantrubeksa) (Mr. Viratana Suntaranond)
Witness Witness
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(Signed) (Signed)
(Miss Chor. Jaruwan Petpaisit) (Mrs. Manunya Benjakun)
-2-
Agreement on Lease
1 General Agreement
2. Special Agreement
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1. General Agreement
1.1 Scope of Lease
The Lessee agrees to lease the property of the Lessor, hereinafter
called the "leased premises" according to the details in Annex A.
1.2 Period of Lease
The Lessor agrees to lease out the leased premises under this
agreement for the period prescribed in Annex A.
If the Lessee is desirous to request for extension of the lease, the
Lessee shall forward a written notice to the Lessor at least forty
five (45) days in advance prior to the expiration date. However, the
Lessor reserves the right to consider it as the Lessor deems
appropriate.
1.3 Rents and Method of Payment
1.3.1 The Lessee agrees to pay rents to the Lessor as follows:
(a) Fee for entering into the agreement, Baht 5,000.- (Five Thousand
Baht), not including value added tax.
(b) Rents, fees and charges, are as indicated in Annex A.
1.3.2 Payment of the fee under Clause 1. 3. 1 (a) shall be made to the
Lessor on the signing date of this agreement.
1.3.3 For the rents, fees and charges indicated in Annex A, the Lessee
agrees to make monthly payment to the Lessor in advance by the
5th of every month.
1.3.4 The Lessee agrees to be responsible for all expenses such as
electricity, telephone, water supply charges or other expenses
incurred from the lease under this agreement, and shall pay them
to the Lessor within the due date indicated in the invoices.
1.3.5 The Lessee agrees to be responsible for all taxes, duties and
fees incurred from the lease under this agreement such as value
added tax which is subject to payment according to the existing
law or those to be issued in the future, on behalf of the
Lessor.
The housing and land taxes indicated in Annex A are estimated
average monthly amount. Should the rate of housing and land taxes
changes, the Lessee consents the Lessor to collect at the
adjusted rate accordingly.
1.3.6 All payment under this contract shall be made to Finance
Division, Finance Department, of the Lessor. After the Lessee
has made payment to the Lessor, the Lessor shall issue a receipt
to the Lessee as evidence. The receipt shall have the signatures
of Director, Finance Division, Finance Department, of the Lessor
or the designated person, jointly with cashier of Finance
Division, Finance Department, or the designated person.
1.3.7 If the Lessee is in default of payment of rents, duties and
expenses payable to the Lessor under this contract, the Lessee
agrees to pay a fine to the Lessor at a rate 1.5 % (one point
five) per month of the outstanding amount throughout the whole
period thereof. Fraction of a month shall be calculated as one
month.
The Lessee acknowledges that this context is separate which shall
not impair the Lessor's right to terminate the agreement or claim
damages.
1.4 Duties and Responsibilities of the Lessee
1.4.1 The Lessee shall not make use of the leased premises for any
business other than the purpose specified in the agreement;
unless a written permission has been obtained from the Lessor
first.
1.4.2 The Lessee shall not sub-lease the leased premises, in whole
or in part, or transfer the leasehold to a third party or
allow a third party to make use of the leased premises, in
whole or in part; unless a written permission has been
obtained from the Lessor first.
1.4.3 The Lessee shall not renovate, alter, make extension to the
leased premises; unless a written permission has been
obtained from the Lessor first.
If any renovation, alteration, extension or repair, either
minor or major repair in the leased premises due to whatever
reasons, such property shall belong to the Lessor from the
date of action onwards, and the Lessee shall not claim for
expenses or damages from the Lessor.
1.4.4 The Lessee shall keep the leased premises in proper
condition and clean at all times. If the leased premises
appears to be dirty, unbecoming, or damaged, the Lessee shall
arrange for cleaning or repair at the Lessee's own expense.
1.4.5 The Lessee shall have available, at the Lessee's own expense,
the fire extinguisher at the location approved by the Lessor
in the leased premises.
1.4.6 The Lessee shall comply, and ensure that the Lessee's
dependents or the persons whom the Lessee has appointed,
assigned, hired or asked to perform various works in the
business operation shall comply with the relevant
instructions, regulations, or directives of the Lessor; both
existing and to be issued in the future. The Lessee shall be
cautious, not allowing any person to take any illegal action
in the leased premises, or keep or hide any illegal item
therein. If any damage derived therefrom, the Lessee shall be
liable to the Lessor in all respects for the consequences of
that person's action as if committed by the Lessee.
1.4.7 Throughout the lease period, the Lessee shall facilitate and
allow the Lessor or the Lessor's staff to enter into and
inspect the leased premises from time to time during
reasonable hours.
1.5 Right to Adjust Rents, Fees and Charges
During the period of this agreement, the Lessor reserves the right to
adjust the rents, fees and charges as deemed appropriate, whereby the
Lessee shall be notified in advance. The Lessee agrees to pay the newly
adjusted rents, fees and charges accordingly.
1.6 Termination of Agreement
1.6.1 During the period of this agreement, if the Lessor or the
Lessee is desirous to terminate the agreement prior to the
expiration date, the Lessor or the Lessee may do so; provided
that a written notice shall be given to the other party at
least 30 (thirty) days in advance. In case the Lessor
terminates the agreement prior to the expiration date, the
Lessee agrees not to ▇▇▇ or claim for any damages from the
Lessor.
1.6.2 All clauses of this agreement are deemed essential, if it
appears that the Lessee has acted or omitted to act which is a
breach of or failure to comply with any clause thereof, or
becomes bankrupted, the Lessor has the right to immediately
terminate this agreement. Furthermore, the Lessor is entitled
to claim for damages and forfeit the Performance Guarantee as
well.
1.7 Return of the Leased Premises
1.7.1 Upon expiration date or termination of this agreement by the
Lessor or the Lessee according to Clause 1.6, as the case may
be, it shall be deemed that this agreement becomes extinct
immediately. The Lessee shall promptly arrange for removal of
the Lessee's property out of the leased premises and return it
to the Lessor within seven (7) days from the expiration date
or the termination date, as the case may be.
1.7.2 If the Lessee fails to comply with Clause 1.7. 1, the Lessee
consents the Lessor to Immediately repossess the leased
premises and lift away or remove the Lessee's property from
the leased premises, whereby the Lessee consents to reimburse
the amount the Lessor has had to pay in carrying it out, and
should any damage occurred the Lessee shall not claim for
compensation.
1.7.3 Besides the consent for the Lessor to repossess the leased
premises according to Clause 1.7.2, the Lessee also consents
to pay a daily fine to the Lessor at the rate specified in
Annex A, from the supposed date of returning the leased
premises until the date on which the Lessee and attendants
have vacated the leased premises and returned the same to the
Lessor or the Lessor has carried out according to Clause
1.7.2, as the case may be.
1.8 Performance Guarantee
Unless otherwise specified in Clause 2 of Agreement on Lease, the Lessee
shall submit cash or Letter of Guarantee of a domestic bank for the amount
equivalent to three (3) times of the monthly rent to the Lessor as
Performance Guarantee.
The above shall be returned after the Lessee has been relieved from all
obligations under this agreement.
In case of any amendment of the agreement thereby the rent has been
increased, the Lessee shall submit guarantee for the additional amount
accordingly.
1.9 Notice
All notices under this agreement shall be made in writing and shall be
deemed as legally forwarded if having been forwarded by one of the
following;
- delivered to the person who has duty concerned with each party; or
registered mail
- to the addresses of both parties prescribed in Clause 2.
1.10 Dispute
In case of any dispute arisen in connection with this contract, both
parties agree that the case shall be presented to the court in Bangkok.
Clause 2 Special Agreement
Notice
Name and Address of the Lessor
Airports Authority of Thailand
▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇, ▇▇▇▇ ▇▇▇ ▇▇▇▇▇
▇▇▇▇▇▇▇ ▇▇▇▇▇
Tel. ▇▇▇-▇▇▇▇, ▇▇▇-▇▇▇▇
Telefax 531-5559
Name and Address of the Lessee
J.M.T. Duty Free Co., Ltd.
▇▇▇/▇▇-▇▇ ▇▇▇▇▇▇▇▇▇ ▇▇▇▇
▇▇▇▇▇ ▇▇▇▇▇▇▇, ▇▇▇▇ Pathumwan
Bangkok
Tel. ▇▇▇-▇▇▇▇-▇, ▇▇▇-▇▇▇▇-▇, ▇▇▇-▇▇▇▇-▇
Telefax 254-6852, 535-3964
Details of Rents and Chart Showing Location of the Leased Premises
Lease Agreement No. 1-07/2539 dated 15 January 1997
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Location of Lease Area, Square Rent, Rent, Fee for Building and Fine,
Premises Metre (Sq.m.) Baht/Sq.m./month Baht/Month Services, Land Taxes, Baht/Month Lease Period
Baht/Month Baht/Month
From to
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Room in Office Building, Bangkok International Airport
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No. 2091, 2092, 217.50 325. - 70,687.50 10,603.13 8,835.94 6,008.44 16 Sept. 15 Sept.
1996 1999
2093 and 2094
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The Lessor The Lessee
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(Signed) Air Chief ▇▇▇▇▇▇▇ ▇▇▇▇▇▇ Chantrubeksa (Signed)
(▇▇▇▇▇▇ Chantrubeksa) (Mr. Viratana Suntaranond)
Witness Witness
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(Signed) (Signed)
(Miss Chor. Jaruwan Petpaisit) (Mrs. Manunya Benjakun)