Hm Land Registry

HM LAND REGISTRY

LAND REGISTRATION ACTS 1925 TO 2002

LEASE OF PART

ADMINISTRATIVE AREA Vale of Glamorgan

TITLE NUMBER CYM307050

PROPERTY Hafan yr Ysgol, Plassey Street, Penarth,

PARTICULARS

Date of Lease

The Lessor (being the Landlord) HAFOD HOUSING ASSOCIATION LIMITED, a charitable Industrial and Provident Society of St. Hilary Court, Copthorne Way, Culverhouse Cross, Cardiff, CF5 6ES

The Lessee (being the Tenant)

The Estate The land described in the First Schedule known as Hafan yr Ysgol, Plassey Street, Penarth,

The Demised Premises The floor Dwelling known as Flat Number more particularly described in the Third Schedule

The Rent £75 per annum as reviewed pursuant to the provisions of clause 6 hereof and any other sum that may be payable pursuant to the provisions of the Seventh Schedule

The Term 125 years from the Commencement Date

The Commencement Date 1st July 2012

Initial Market Value £

The Premium £

Proportion of Part A Maintenance Expenses 1/25th

Proportion of Part B Maintenance Expenses 1/25th

SAVE THAT any of the said Proportions may be subject to variation from time to time in accordance with the provisions of Clause 7.9.

THIS LEASE is made day of 2012

BETWEEN

(1) the Lessor and;

(2) the Lessee

WHEREAS:

1. The Lessor is an Industrial and Provident Society registered under the Industrial and Provident Societies Act 1965 number 18766R

2. The Lessor is a Registered Social Landlord registered with the Welsh Government under number L034

3. The Lessor is registered at H. M. Land Registry as proprietor with absolute title to the Estate.

4. The Lessor is to undertake responsibility for the supply of services to the Estate for which the Lessee will pay the Lessee’s Proportion of Maintenance Expenses.

NOW THIS DEED WITNESSETH as follows:

In this Deed unless the context otherwise requires:

"the Accessways" means the Car Park, footpaths, access areas, private roads and electro-mechanical access gates ( if any) forming part of the Estate and any car park, footpaths, access areas, private roads and gates substituted therefore

"Authorities" means any relevant highway drainage and planning authorities and undertakers or companies responsible for the supply of water gas electricity communication media or similar services

"the Building" means the Building in which the Demised Premises are situate comprising several Dwellings and all structural parts thereof including the roofs gutters rainwater pipes foundations floors all walls bounding individual Dwellings therein all support structures and all external parts of the buildings and all Service Installations not used solely for the purpose of an individual Dwelling and the expression "Building" has a corresponding meaning

"the Communal Areas" means the Accessways all gardens, grounds, landscaped areas, recreational areas, refuse storage areas, bicycle store and other communal areas forming part of the Maintained Properties

“the Car Park” means the area forming part of the Estate designated by the Lessor from time to time for the parking of motor vehicles

"Estate Regulations" means any reasonable regulations made by the Lessor from time to time for the proper management and use of the Estate

"the Dwellings" means the Properties and the Demised Premises forming the Building or the Estate (as the context permits) and a Dwelling means any one of them

“Index” means the Retail Price (all items) index published by the office for National Statistics or any official publication substituted therefore or any other index substituted therefore in accordance with the provisions of sub clause 6.2 hereof

"the Insured Risks" means fire lightning aircraft explosion terrorism riot civil commotion earthquake malicious damage storm flood escape of water and oil impact theft attempted theft glass falling trees branches and aerials subsidence heave landslip accidental damage including accidental damage to underground services public liability full terrorism and such other risks as the Lessor may reasonable decide from time to time but so far only as such risks (including for the avoidance of doubt those expressly referred to above) remain insurable from time to time in the UK insurance market and at reasonable rates

"the Lessee" includes the person for the time being entitled to the Term and where the Lessee is more than one person all covenants and agreements on the part of the Lessee herein contained shall be deemed to have been made jointly and severally by all such persons constituting the Lessee

"the Lessee's Proportion" means the proportion of the Maintenance Expenses payable by the Lessee in accordance with the provisions of the Particulars and the Seventh Schedule

"the Lessor" includes the person for the time being entitled to the reversion immediately expectant upon the Term

"the Maintenance Expenses" means the moneys actually expended or reserved for periodical expenditure by or on behalf of the Lessor at all times during the Term in carrying out the obligations specified in the Sixth Schedule

"the Maintained Property" means those parts of the Estate which are more particularly described in the Second Schedule and the maintenance of which is the responsibility of the Lessor

"the Parking Space" means the parking space or spaces marked on Plan 2 annexed

“Part A Maintenance Expenses” means the maintenance expenses specified in Part A of the Sixth Schedule

“Part B Maintenance Expenses” means the maintenance expenses specified in Part B of the Sixth Schedule

"the Properties" means all of the Dwellings constructed or to be constructed on the Estate other than the Demised Premises

"the Perpetuity Period" means Eighty years from the Commencement Date

“Review Dates” means (subject to the provisions of clause 6 hereof) the tenth anniversary of the Commencement Date and each successive tenth anniversary thereafter

"Service Installations" means sewers drains channels pipes watercourses gutters mains wires cables conduits aerials tanks apparatus for the supply of water electricity gas (if any) or telephone or television signals or for the disposal of foul or surface water together with all space heating systems provided for the internal common parts of the Building

2. Interpretations

2.1 Words importing one gender shall be construed as importing any other gender and words importing the singular shall be construed as importing the plural and vice versa

2.2 Persons include companies and all other legal entities

2.3 References to clauses schedules and paragraphs are to clauses schedules and paragraphs in this Lease and all headings do not form part of this Lease and shall not be taken into account in its construction or interpretation

2.4 Any reference to any specific statute or statutory provision includes references to any statutory modification extension or re-enactment of such statute or statutory provision and to any byelaws orders regulations or other subordinate legislation made under such statute or statutory provision from time to time

2.5 Any covenant by the Lessee not to do any act matter or thing shall be construed as including a covenant by the Lessee that such act matter or thing shall not be done

2.6 Where any party to this Lease comprises more than one person then the obligations and liabilities of that party under this Lease shall be joint and several obligations and liabilities of those persons

3. DEMISE

FOR THE CONSIDERATION of the premium now paid by the Lessee to the Lessor (the receipt whereof is hereby acknowledged) and of the Rent hereinafter reserved and contained THE LESSOR with Full Title Guarantee HEREBY DEMISES AND CONFIRMS unto the Lessee ALL AND SINGULAR the Demised Premises TOGETHER WITH the rights set out in the Fourth Schedule and SUBJECT however to the Lessee's covenants hereinafter contained TO HOLD the same unto the Lessee for the Term SUBJECT TO the burden of the covenants or agreements already entered into by the Lessor with the transferee lessee or tenant of any of the Properties for the observance of the Estate Regulations and to all rights and easements appertaining to any other properties adjoining the Estate and SUBJECT TO all covenants stipulations and other matters hereinafter contained or referred to and SUBJECT ALSO TO the rights set out in the Fifth Schedule (which so far as not already affecting the Lessor's estate in the Demised Premises are hereby excepted and reserved from this demise) YIELDING AND PAYING THEREFORE during the Term the Rent

AND ALSO paying by way of further or additional rent the Lessee's Proportion in accordance with the provisions of The Seventh Schedule

4. THE LESSEE'S COVENANTS

THE LESSEE for the mutual protection of the Lessor and the lessees of the Properties HEREBY COVENANTS:

4.1 With the Lessor to observe and perform the obligations on the part of the Lessee set out in Parts One and Two of the Eighth Schedule and to observe and perform all covenants and stipulations contained or referred to in the Charges Register (if any) of the Title above referred to so far as the same relate to or affect the Demised Premises and to indemnify the Lessor against all actions proceedings costs claims and demands in respect of any breach non-observance or non-performance thereof

4.2 To observe and perform the obligations on the part of the Lessee set out in Parts One and Two of the Eighth Schedule

4.3 With the lessees of the Properties to observe and perform the obligations on the part of the Lessee set out in Part Two of the Eighth Schedule

5. THE LESSOR'S COVENANTS

The LESSOR relying on the covenants on the part of the Lessee herein contained HEREBY COVENANTS with the Lessee to observe and perform the obligations on the part of the Lessor set out in the Ninth and Tenth Schedules PROVIDED THAT in the event of the Assignment or transfer by the Lessor of the reversion immediately expectant of the term hereby granted, the Lessor (meaning in this context specifically the party so assigning or transferring) shall on and from the date of that Assignment or transfer cease to be liable in respect of any breach or breaches of covenants on its part herein contained which may occur after the date of such assignment and PROVIDED FURTHER THAT if at any time the Lessor shall reasonably consider that it would be in the general interests of the lessees of the Dwellings or the Estate so to do the Lessor may from time to time in its discretion withhold add to extend vary and make any other alteration to the Lessor’s obligations if the Lessor in its discretion deems it desirable to do so for the more efficient conduct and management of the Estate.

6. RENT REVIEW

6.1 The Rent hereby reserved shall on each of the Review Dates be adjusted either upwards or downwards (but subject to the Rent never falling below the actual amount of the yearly rent specified in the definition of Rent in the particulars hereof) by reference to any percentage change in the Index between:

6.1.1 (in relation to the first of the Review Dates) the figure published immediately prior to the term commencement date and the figure published immediately prior to the first Review Date and

6.1.2 (in relation to each of the subsequent Review Dates) by reference to any percentage change in the Index between the figure published immediately prior to the previous Review Date and the figure published immediately prior to the Review Date in question

6.2 In the event of the Index ceasing to be published or if for any other reason it becomes impossible to apply it then the Lessor and the Lessee shall agree a suitable alternative index for the purpose of this Clause

6.3 If the reference base used to compile the Index shall change at any time during this Lease the figure shown in the relevant Index after the change shall be the figure which would have been shown in the relevant Index if the reference base had not changed

6.4 If on any of the Review Dates there shall be in force legislation which:-

6.4.1 prevents restricts or modifies any revision or increase in the Rent (or the Lessor’s right to receive the same) pursuant to the provisions of this Lease or

6.4.2 prohibits or restricts (as a result of the amount of the increased Rent that would otherwise be payable):

6.4.2.1 the charging of any premium on an assignment or transfer of this Lease or

6.4.2.2 the right of the Lessor to receive the Rent provided for herein or to enforce the covenants herein contained on the part of the Lessee

then the Review Date affected thereby shall be postponed until the expiration of three months from the date upon which such prevention restriction or modification is removed relaxed or modified and the Lessor shall then be entitled to recover any resulting increase in the Rent with effect from the postponed Review Date as shall then be permitted by law Provided That nothing herein shall be construed as varying any subsequent Review Date

6.5 If the revised Rent has not been ascertained pursuant to the foregoing provisions on the relevant Review Date:

6.5.1 the Lessee shall continue to make payments at a rate equal to the Rent payable immediately before the relevant Review Date (such payments being on account of the revised Rent to be ascertained) and

6.5.2 on the date for payment of Rent next following the ascertainment of the new Rent the amount payable by the Lessee to the Lessor by way of rent shall be increased or decreased to reflect the amounts which would have been payable if the revision of the Rent had been ascertained on the relevant Review Date and no interest shall be payable on any additional amount provided the same is paid within 7 days of such date