TENANCY AGREEMENT
DATE / 5 July, 2016 / REFPREMISES
CARPARK # / NIL
LANDLORD / TAIPAN MANAGEMENT COMPANY ,
ROOM.803, EASTERN COMMERCIAL CENTRE, 397 HENNESSY ROAD, WANCHAI, HK.
TENANT
CONTACT / BR#
PHONE / FAX
TERM / EXTENSION 1 / EXTENSION 2
TERM / TWO / YEARS
FROM / COMMENCING DATE
TO / EXPIRY DATE
RENT / MONTHLY RENT
DISCOUNT / HK$0,000.00 / TERM DISCOUNT
PAYABLE / UPON DUE
GOVERNMENTRATE / INCLUSIVE / RATE P/M
M/F / INCLUSIVE / M/F P/M
GOVERNMENT RENT / INCLUSIVE / FURNITURE P/M
OTHERS / HK$0.00 / MISCELLANEOUS P/M
TOTAL / INCLUSIVE PAYMENT P/M
DUE DATE / 10 TH / OF EACH MONTH
DEPOSIT / BOND DEPOSIT
% DUE ON / AMOUNT / DATE DUE
% DUE ON / AMOUNT / DATE DUE
CONTENTS / VALIDATION SIGNATURE 1 / VALIDATION SIGNATURE 2
(LANDLORD) / (LANDLORD)
(TENANT) / (TENANT)
DATE: / DATE:
OPTIONS / AFTER THE TENANT SHALL HAVE OPTION TO EXTEND TWO YEARS (FROM TO ) AT MUTUALLY AGREED MARKET RENT.
COVENANTS / COVENANTS AND CONDITIONS AS PER OVERLEAF.
CONDITION / PREMISES LET IN CONDITION AS EXISTING AT PRE COMMENCEMENT INSPECTION.
WORKS
OTHER TERMS / TENANT IS RESPONSIBLE TO ARRANGE THE UTILITIES ACCOUNT. (WATER, ELECTRICITY, GAS, TELEPHONE, ETC)
The parties hereto have hereunto set their hands the day and year first above written agreeing to the above and overleaf.
______
LANDLORD TENANT
______
WITNESS WITNESS
COVENANTS / CONDITIONS
INDUSTRIAL TENANCY
1. The Landlord shall let and the Tenant shall take ALL THAT the said premises TOGETHER with the uninterrupted right of passage to and from the said premises at all times by the Tenants and others by his invitation or for his advantage in common with the Landlord and others entitled to a similar right over and along the passage and running of staircase leading to the said premises EXCEPT and reserving unto the Landlord the right of passage and running of water electricity gas and soil through the sewers drains and channels in or under the said premises at the terms as aforementioned and the rent to be paid in advance without any deduction whatsoever on or before the due day of each and every calendar month.
2. The Tenant to the intent that the obligations may continue throughout the term / extensions hereby agrees with the Landlord in the manner following that is to say:-
(a) To pay the rent (including rate and management fee if payable by the Tenant) hereby stipulated on the day and in the manner aforesaid without any deduction. In event of Tenant‘s abandonment or early vacating not agreed to in writing, the rent or its cash equivalent remains payable for the full contracted term. Rate and management fee subject to adjustment.
(b) To upkeep the interior of the said premises in tenantable repair and condition throughout the term hereby created and without any alterations except such as shall be sanctioned in writing by the Landlord.
(c) Not to use the said premises or any part thereof except as for industrial purpose by the herein named Tenant. Applications and charges for change of use on Tenant‘s account. The Tenant shall obtain all necessary permits license and consents of the Manager of the building and the appropriate Government bodies and/or other lawful authorities in Hong Kong for his business nature, and shall at all times obey and comply with the Manager’s terms and conditions and all Government ordinances regulations and by-laws in respect of the same, and shall indemnify the Landlord against the consequences of any breach of this provisions; Landlord shall be exempt from all liabilities arising from the fact that the premises cannot for any reason whatever be used for any particular purpose and the Tenant takes and shall be deemed to take the premises with full knowledge of the permitted use thereof. It is further the duty and obligation of the Tenant to make inquiries and to obtain all approval license and consent from the relevant authority and/or parties to use the premises for carrying on his business.
(d) Not to do or permit to be done in or upon the said premises or any part thereof anything which may be or become a nuisance annoyance damage or disturbance to the Landlord or the tenants or occupiers of the other flats of the said premises or of other property in the neighbourhood or in anywise against the law or regulations of the Government of the Hong Kong Special Administrative Region.
(e) To deliver vacant possession of premises to Landlord on expiry date in good tenantable condition, the Tenant shall at his own cost and expense remove all furniture of his own and reinstate and restore the premises to the original situation and condition and make good all damage caused thereto to the satisfaction of the Landlord to indemnify the Landlord for costs of repairing damage (fair wear and tear excepted), cleaning, reinstating disconnected utility meters. During the last 2 months of the tenancy to allow prospective Tenants to view and inspect the premises at reasonable times. Tenant may reduce uncertainty and limit viewing to a maximum 3 times per week by Tenant giving written notice of such times. If both parties fail to agree on renewal terms after expiry of contractual Tenancy, it shall be a monthly tenancy at undiscounted rental without prejudice to Landlord regaining possession.
(f) Not to assign, sublet or part possession of the said premises or any part thereof or allow the use of the premises or any part thereof by any other party.
(g) To inform the Landlord in writing of his business address and telephone number upon signing of the agreement and within 14 days of any change of such.
(h) Not to affix put up or display any signboard, sign, decoration or other thing whatsoever outside the premises or any door wall pier or window except with the prior written approval of the Landlord; such approval shall not be unreasonably withheld by the Landlord but any approval to be granted shall be subject to such conditions as the Landlord may think fit. The Landlord shall have the right to remove at the cost and expense of the Tenant any signboard, sign, decoration or thing which shall be affixed put up or displayed without the prior approval of the Landlord.
(i) The Landlord shall not be in any way liable to the Tenant, his licensees, invitees or to any person claiming any right title or interest under the Tenant for any loss damage injury or loss of business which may be sustained by the Tenant or by any such person on account of the defective or damaged condition of the premises or the Landlord’s fixtures including windows therein or any part thereof and in particular the Landlord shall not be responsible to the Tenant or any person as aforesaid for any damage caused by through or in anywise owing to any third party negligence, fire, earthquake, typhoon, leakage of water or electric current from the water pipes or electric wiring situated upon or in any way connected with the premises.
(j) To purchase insurance to cover (or self cover) all contents in the premises (except landlord supplied items) against loss, damage, or liability (including alternative accommodation, utilization or supply) caused by contents, or tenants/guests/servants negligence and to cover cause by ALL causes including typhoon, rainstorm, fire, earthquake, landslide, water/electric/gas leakage,deterioration, lift failure, accident, theft, fraud, etc, etc. Landlord's building insurance does not cover tenant property.
3. the Landlord hereby agrees with the Tenant as follows;-
(a) That the Tenant paying the rent hereby stipulated and observing and performing the several stipulations herein contained and on his part to be observed and performed shall possess said premises during the said term without any interruption by the Landlord or any person lawfully claiming under or in trust for him.
(b) To pay Government Rent, property tax and expenses of a capital or non recurring nature.
4. PROVIDED ALWAYS and it is hereby expressly agreed as follows;-
(a) If the rent hereby stipulated or any part thereof shall be unpaid for 15 days after becoming payable (whether legally or formally demanded or not) or if the Tenant shall fail or neglect to perform or observe any term or condition herein contained and on his part to be performed or observed or if the Tenant or other person in whom for the time being the term hereby created shall be vested shall become bankrupt or enter into any composition or arrangement with creditors then and any of the said cases it shall be lawful for the Landlord at any time thereafter to re-enter upon the said premises or any part thereof in the name of the whole and thereupon this agreement shall absolutely determine but without prejudice to any right of action of the Landlord in respect of any breach of the Tenant's terms and conditions herein contained and a written notice served by the Landlord on the Tenant or left at the said premises to the effect that the Landlord thereby exercises the power or re-entry hereinbefore contained shall be a full and sufficient exercise of such power. Alternatively at the Landlord‘s discretion, the Tenancy may continue, suspended of Landlord’s obligation to honour repairs services,discounts,or liability until arrears or Tenant‘s breach is remedied.
(b) To secure the due performance and observance of the terms and conditions herein contained the Tenant shall maintain the aforementioned BOND deposit with the Landlord until vacant possession is delivered up. Landlord may deduct unpaid expenditures and costs to discharge tenant's obligations herein and Tenant shall re-maintain bond deposit to the full amount within 7 days of demand. Deposit is refundable to the Tenant within 14 days of termination subject to full discharge of Tenant's obligations.
(c) Notices served by hand, mail or fax to the counterparty‘s last known address is valid notice.
(d) The Tenant shall fully indemnify the Landlord for all incurred costs, disbursements and damages expended to recover rental or to enforce this agreement. Tenant shall arrange and maintain Bank Autopay ensuring payments are received by Landlord by due date.
(e) After 12 months from commencing, the Tenant may terminate this agreement by giving Landlord 30 days prior written notice attached with a cheque for reimbursement of the term discount from commencement date until notice effective date, plus compensation of 3x inclusive undiscounted Rent (Rent, Rates & M/F). Rent continues payable and Bond Deposit remains intact until termination.
(f) In event autopay is not effected or is cancelled, overdue rental arrears shall incur a surcharge of 0.2% per day. Arrears exceeding 5 days will incur $200 charge for clerical action, arrears exceeding 10 days will incur $500 charge for executive action and arrears exceeding 15 days will incur $2,000 charge for Solicitor action and award costs in event of Court action.
(g) Multiple tenants shall be joint and several. "Abovementioned, Aforementioned or Hereby" includes overleaf. “MONTH” means calendar month from the due date. Amendments or earlier termination of this agreement must be mutually agreed in writing.
5. Premises are delivered in existing condition, as inspected by Tenant and Landlord is not responsible for any expenses except provided above.
6. Tenant to comply with the deed of mutual covenant and house rules of the building.
(Tenant's name & address)Date / 5 July, 2016
Bank / : / The Hongkong Bank
(Tenant's Bank - Standing Instruction Dept.)
Dear Sirs,
Our Account Number :Please debit our above account and transfer each month as follows to:
TAIPAN MANAGEMENT CO.
Account Number : 004-809-241920-001
The Hongkong and Shanghai Banking Corporation Limtied,
Causeway Bay Branch.
Amount : / HK$20,000.00Commencing on : / 1st Jul., 2005 / and on the same day of each
month until further notice.
Sincerely,
Authorized Signature
cc. Taipan Management Co.
803 Eastern Comm.Centre,
397 Hennessy Road, Wanchai, HK.
Tel: 2574 0338 Fax: 2838 2159
Re: Tenancy of 1, HK.
Please quote reference no : aa to payee.