LEASE AGREEMENT OF A PROPERTY

This Lease Agreement is made and entered into on this 10th day of December 2019, in
Addis Ababa, Ethiopia.

BETWEEN

Mrs. __________ resident of_Addis Ababa_ ; Address ___________, , Mobile phone no.
_________________, email ______________________________; represented by
___________, with Power of Attorney No. ቅ 5/419/10/2011 dated 18/12/2019
( 09/04/2011 EC), (copy attached); whose address is House No._________, Woreda ___,
________ Sub City, Addis Ababa, Ethiopia; Mobile phone no. ____________ (hereinafter
call “THE LESSOR”), which expression shall, where the context admits, include their
successors, of the one part;

AND

_____________________________________ represented by _______________________

(ID. ______________) copy attached, whose address is the Permanent Mission, Addis
Ababa, ______ Sub city; Woreda; ___, House No._________, Telephone no.:
_______________, email: ____________________ ; (hereinafter called “THE
LESSEE”), which expression shall, where the context admits, include their successors, of
the other part;

Whereas THE LESSOR is the exclusive and legal owner of property located at Building
no.:- _________________ Shop / Office No. ______________, Registration no.
_____________, unique parcel identification no.__________________, Bole Bulbula,
Addis Ababa, Ethiopia (copy attached); without furnishings and appliances, hereinafter call
THE PROPERTY.

Whereby it is agreed as follows:

1. THE LESSOR agrees to let, and THE LESSEE agrees to take on lease THE
PROPERTY, for a term of one year commencing from ____________ to be used
for commercial purposes only.

2. This lease is given and accepted against a monthly rent of ___________ birr
(_________________________________________________ birr), paid by bank
transfer).

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3. Then THE LESSEE shall pay in advance 6 months’ rent on ______________
amounting to _________________ birr
(______________________________________________ birr).

4. THE LESSEE agrees with THE LESSOR as follows:

a. To use THE PROPERTY for commercial purposes only.

b. The rent payment includes shop and Office rental, for generator fuel, and
24/9 security. Water is provided by the build management, the renter is only
responsible for electricity and internet charges.

c. To keep and maintain THE PROPERTY equipment and fittings handed

over to THE LESSEE, in a tenantable condition, reasonable wear and tear
accepted; and to immediately repair or replace all damage caused to the said
equipment and fittings by THE LESSEE.

d. Without prejudice to THE LESSEE’s privacy; and upon receipt of a request

by THE LESSOR or his agent to enter into THE PROPERTY to examine
the condition of THE PROPERTY and to carryout repairs on THE
PROPERTY reasonable intervals.

e. Not to assign THE PROPERTY or sublet the same or any part thereof
without prior consent of THE LESSOR in writing.

f. Not to carry out any structural changes or major alterations to THE

PROPERTY without prior consent of THE LESSOR in writing.

g. To maintain and premises of THE PROPERTY in a satisfactory condition.

h. The Lessee agrees to notify the Lessor immediately if roof leaks, water spots
appear on ceiling, or the likes. The Lessee also agrees to notify the Lessor
immediately upon first discovering any signs of serious building problems
such as foundation cracks, a tilting porch, a crack in plaster, a spongy floor, a
leaky water heater, etc.

i. The Lessee agrees not to keep PETS of any kind in the PROPERTY. The
Lessee also agrees that it is a NON-SMOKING Building. Failure to abide by
this paragraph will result in immediate eviction, without prior notice, and
forfeiture of all prepaid rent and deposits.

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5. THE LESSOR agrees with THE LESSEE as follows:

a. That they are the true owners of THE PROPERTY and have the power to
lease THE PROPERTY, and that THE PROPERTY is free from any debt
or encumbrances.
b. That THE LESSEE paying the rent hereby specified and performing and
observing all the covenants on its part herein before contained shall have,
hold and enjoy quiet possession without any interference from THE
LESSOR or any person representing their interests.

c. To keep the exterior, the roof, and structural parts of THE PROPERTY
well maintained at all times during the period of the lease and to paint the
exterior walls of THE PROPERTY once every three to five years, as
required.

d. Not to make any major alterations on THE PROPERTY without a written

consent by the LESSEE.

e. Upon being notified by the LESSEE that there is some building defect in
which it is hazardous to health, life, or safety, LESSOR shall undertake
repairs as soon as possible. Failing to do so shall constitute a material breach
of this agreement.

f. Should there be a delay of more than seventy-two (72) hours in making

repairs, due to difficulty in scheduling the work or obtaining parts or for any
other reason beyond the LESSOR’S control; the LESSOR agrees to keep the
LESSEE informed about the progress of work.

g. To assist in ensuring that all telephone, water, and electricity external

connections are maintained in working order.

6. PROVIDED ALWAYS, and it is hereby expressly agreed as follows.

a. Upon expiration, this agreement shall AUTOMATICALLY continue,

UNLESS either the LESSOR or the LESSEE notify the other party, in writing
at least, 30 days prior to expiration that they do not wish this Agreement to
continue on any basis.

b. In the event that the LESSEE wishes to extend the validity of this agreement
beyond twelve months; he shall give one month notice to the LESSOR 30
days before expiration date expressing so in writing, in which case the

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 LESSOR must advise his decision to the LESSOR in writing in two weeks
after receipt of the request.

c. Before the expiration of the term hereby stated, the parties hereto have
agreed to review this lease agreement and extend the lease for such further
period that they shall mutually agree.

d. If any acts or circumstance not imputable to THE LESSEE or THE

LESSOR should occur, such as those attributable to flood damage, force
majeure, acts of God, or decisions of any government authority, which
renders THE PROPERTY uninhabitable for its intended purposes, this
lease shall be terminated, and neither party shall make any claims for
damages against the other party by reasons thereof.

e. To the extent not inconsistent herewith, the provisions of the Civil Code of
Ethiopia shall govern the relationship between the parties hereunder.

f. Either party may terminate this agreement by giving a thirty (30) days’
advance notice in writing which may include, but not limited to:
1. Force majeure.
2. If the Lessee’s license is revoked or the LESSEE must leave the
country.

g. If and when the LESSEE fails to fulfill obligations under this lease, the
LESSOR may give the LESSEE fifteen (15) days written notice to comply
with his contractual obligations: should the Lessee fail to comply the
LESSOR is entitled to terminate the contact and to claim compensation for
any damage which may have resulted.

h. In case the LESSEE wants to vacate the premises before the ending date of
this Lease agreement, he should give one month notice, in writing, or one
month rent in lieu of the notice period. The LESSOR also shall give one
month notice to the LESSEE for terminating this agreement before end of the
lease period.

8. ANY NOTICE required to be served under this Agreement shall be sufficiently served if
delivered personally or sent under registered mail, or e-mail to the parties’ addresses stated
herein above.

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9. UPON termination of the lease, the parties shall jointly inspect THE PROPERTY to
determine its condition. The LESSEE shall be responsible to hand over the property in the
condition that it was at the time of takeover, except for normal wear and tear.

10. FAILURE of either party to dully fulfill obligations contained in the lease may be cause
for dispute and termination of the lease. However, the defaulting party shall first be given the
opportunity to remedy the default within a reasonable time.

11. ANY DISPUTE arising out of the non-performance of this Agreement shall be referred to
arbitration. The parties may agree to one arbitrator, or may appoint one each and an umpire to
be appointed by the chosen arbitrator. The decision of the arbitrator shall be final and binding
on both parties, except on questions of law, which may be appealed against to a court of
competent jurisdiction.

12. FULL DISCLOSURE

a. The Lessor and Lessee signing this lease agreement hereby state that they fully
understand all the provisions of the agreement and the obligations and responsibilities of
each party, as spelled out herein.

b. They further state that they agree to fulfill their obligations in every respect or suffer the
full legal and financial consequences of their actions or lack of action in violation of this
agreement.

c. Signature by the parties on this agreement is acknowledgement that either party has
received a signed copy of the lease agreement.

The effective date of this lease is ___________________, or the day the LESSEE moves
into the property, whichever comes first.

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Done in Addis Ababa on this ____________________________

IN WITNESS WHEREOF the parties have signed this Agreement in the presence of the
witnesses enumerated below.

FOR THE LESSOR FOR THE LESSEE

1. Signature Signature

Name Name
Date Date

WITNESSES

1. Signature 2. Signature
Name Name
Date Date

3.Signature
Name
Date

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Annexure 1: indemnity waiver and disclaimer

By signing this Lease Agreement, the Lessee understands that this indemnity applies to all
persons who enter the Apartment, whether as Lessee, casual visitor, overnight guest, staff,
(collectively referred to as ‘the Lessee’).

The Lessee acknowledges that he has read and understands this indemnity and agrees to be
bound by the following:

 The Lessee enters and uses the Building, parking areas, surrounds, lift and stairs on the
Building entirely at his own risk.
 The Lessee warrants that he has been advised of and is aware of and accepts this
indemnity waiver and disclaimer clause and that he comprehends the implications
thereof.
 The Lessee holds harmless and indemnifies the Lessor and her representatives and
employees (the Indemnified Party) against any consequences of residing at the Mall
leased by the Lessor and waives any claims she may have.
 It includes any theft/loss of/damage to personal effects/property, any indirect,
consequential or special loss/damage, financial loss, illness, injury, harm or death
howsoever caused and legal costs that the Indemnified Party may incur.

The Lessee acknowledges that any assistance that the Indemnified Party may render or arrange
is done without any admission or acknowledgement of fault or liability and as a show of empathy
and goodwill.

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