Commercial Lease Agreement (31.07.08)

BLACK = Old Item/Clause | RED = New Item/Clause | BLUE = Comments About Change (Not Part of Form) | STRIKEOUT = Wording Deleted

31 July 2008 v1.6

Additions / Changes:

Item 5

(1) Name: .......................................................................................................

Address: .................................................................. ACN: ............................

................................................................................ ABN: ............................

Phone: ............................ Fax: ............................ Mobile: ............................

Email: ............................................................................................................

(2) Name: .......................................................................................................

Address: .................................................................. ACN: ............................

................................................................................ ABN: ............................

Phone: ............................ Fax: ............................ Mobile: ............................

Email: ............................................................................................................

Item 11

TENANT’S Insurance

Clause 1(14)

Valuer: a Valuer registered in accordance with the provisions of the Valuers Act 2003 and the Valuers Regulation 2005 and who is able to carry out rental determinations as may be required under this Agreement.

Clause 5.4(e)

once determined, the rental for the future term will be payable from the commencement date of the new term.

Clause 8.1(13)

maintain public liability insurance in accordance with Item (11) of the Item Schedule. the sum of 10 million dollars.

Clause 11

11.1	If during the Lease Term the Lessor determines to register a Strata Plan in relation to, or affecting the Retail Shop, the Lessee will consent if requested by the Lessor to the Strata Plan.
11.2	Subsequent to registration of the Strata Plan, compliance by the Lessor with the Strata Plan will not amount to default by the Lessor under this Lease Contract.
11.3	The Lessee will comply with by-laws except in so far as such compliance would be contrary to the terms of this Lease Contract.
11.4	If required by the Lessor the Lessee will, at the cost of the Lessor, surrender the existing Lease Contract and enter into a new lease contract on the same Terms and Conditions as this Lease Contract save as follows:
	(1)	the new Lease Contract shall commence from the date of surrender and terminate on the date this Lease Contract would have otherwise expired.
	(2)	the provisions of the Lease Contract will be altered to the extent necessary to enable compliance with the Strata Plan.
	(3)	Outgoings will include levies payable by the Lessor in accordance with the Strata Plan.

01 Apr 2008 v1.5

Additions / Changes:

Clause 5.4(e)

once determined, the rental for the future term will be payable from the commencement date of the new term.

05 Oct 2007 v1.4

Additions / Changes:

Item 8

Bank Guarantee / Security Bond payable by the Tenant: $......................... or equivalent to ……………… months rent.

Clause 15

15.1	The Tenant must:
	(a)	give to the Landlord a Security Bond in the amount provided for in Item (8); or
	(b)	arrange for the issue of an unconditional bank guarantee, in favour of the Landlord
	for the purpose of securing the performance by the Tenant of its obligations under this Agreement.
15.2	On the sale or the transfer of the Building the Landlord may assign the Security Bond to the purchaser and upon notifying the Tenant the Landlord will be released from all obligations in relation to the Security Bond. Where the bank guarantee is not assignable the Tenant will cause a replacement guarantee to be issued in favour of the purchaser.
15.3	The Landlord may apply the Tenant’s Security Bond as compensation for any loss or damage incurred or sustained by the Landlord due to the Tenant’s failure to comply with any of its obligations under this Agreement.
15.4	The Landlord’s exercise of its rights with respect to the Security Bond do not prejudice any other rights of the Landlord arising from a breach of the terms of the Agreement.
15.5	The Landlord will at the end of the Lease Term or any extension of the Lease Term cause to be released, subject to any unsatisfied claim under Clause 15.3, the Security Bond to the Tenant.
15.6	The amount of the Security Bond shall be adjusted in each year of the lease, subsequent to the first year, by using the same method as that used for Rent Reviews.

21 May 2007 v1.3

Additions / Changes:

Item 2

Company Name: .................................................................................

Trading As: .........................................................................................

Item 3

Company Name: .................................................................................

Trading As: .........................................................................................

27 Apr 2007 v1.2

Additions / Changes:

Surrender of Lease

The Tenant having requested the Landlord accept a surrender of this Lease In consideration of the sum of $___________ , receipt of which hereby acknowledged, the Landlord accepts a surrender of the Lease and the Tenant surrenders all the Tenant’s estate and interest in to the Landlord the Lease and the Landlord accepts a surrender of the Lease such that for the residue of the unexpired term to the intent that the leasehold estate will merge to be extinguished in the freehold reversion and be extinguished on the signing of this surrender.

13 Feb 2007 v1.1

Additions / Changes:

Item 5

Name: ............................................................................................................

Address: .................................................................. ACN: ............................

................................................................................ ABN: ............................

Phone: ............................ Fax: ............................ Mobile: ............................

Email: ............................................................................................................