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BLACK = Old Item/Clause | RED = New Item/Clause | BLUE = Comments About Change (Not Part of Form) | STRIKEOUT = Wording Deleted
22 Jun 2012 v1.6
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Clause 1(12)
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Security Interest: means an interest in personal property provided for by a transaction that, in substance, secures payment or performance of an obligation. See Section 12 of the Personal Property Securities Act 2009.
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Clause 12.5
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Any dispute under this Clause will be determined by an independent Valuer appointed by the president of the Australian Property Institute (Queensland Division) at the request of either the Landlord or the Tenant. The Valuer will act as an expert and not an arbitrator; his determination will be final and binding. including the determination and payment of costs.
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Clause 12.6
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The costs of the dispute will, unless otherwise determined by the Valuer, be paid equally by the parties.
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Clause 14
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The Tenant is not entitled to deal with the Lease or other assets of the business on, in or from the leased Premises by way of security or by way of creating a security interest, without first having obtained the Landlord’s consent, which consent, is at the sole discretion of the Landlord and may be granted upon such terms and conditions as the Landlord considers reasonable.
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Clause 17
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If a requirement for a Security Bond is provided for in Item (10) the Tenant must lodge with the Landlord a cash deposit in the amount provided for in Item (10), or 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.
17.1
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If a requirement for a Security Bond is provided for in Item (10), for the purpose of securing the performance by the Tenant of its obligations under this Agreement, the Tenant must:
(a)
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lodge with the Landlord a cash deposit; or
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(b)
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arrange for the issue of an unconditional bank guarantee, in favour of the Landlord which does not have an expiry date.
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17.2
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On the sale or the transfer of the Premises the Landlord may assign its right with respect to 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 Security Bond is not assignable, the Tenant will cause a replacement guarantee to be issued in favour of the purchaser the reasonable costs of which will be met by the Landlord. Where a replacement Security Bond has been issued the original must be released to the Tenant.
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17.3
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The Landlord may apply the Tenant’s Security Bond towards 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.
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17.4
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The Landlord’s exercise of its rights with respect to the Security Bond does not prejudice any other rights of the Landlord arising from a breach of the terms of the Agreement.
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17.5
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The Landlord will as soon as practicable after the end of the Lease Term or any extension of the Lease Term cause to be released, subject to any unsatisfied claim under Clause 17.3, the Security Bond to the Tenant.
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Clause 32
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The parties agree and confirm documents may be forwarded electronically if the recipient has provided an email address or facsimile number, for delivery or service of documents, in the Item Schedule to this Agreement.
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30 Jan 2012 v1.5
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Clause 9.3
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If the Tenant fails to remove the Tenant’s Chattels as required by Clause 9.2 the Landlord may:
(a)
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remove and store the Tenant’s Chattels at the Tenant’s risk and expense; or
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(b)
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treat the Tenant’s Chattels as if the Tenant had abandoned its interest in it and the Tenant’s Chattels has become the Landlord’s property and may deal with it as the Landlord thinks fit without being liable to account to the Tenant.
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Clause 14
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The Tenant is not entitled to deal with the Lease or other assets of the business on, in or from the leased Premises by way of security without first having obtained the Landlord’s consent, which consent, is at the sole discretion of the Landlord and may be granted upon such terms and conditions as the Landlord considers reasonable.
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01 Nov 2011 v1.3
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Item 7
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Rent Review Type: CPI / Current Market Rent / Other (if other, see Special Conditions)
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Item 8.2
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Option Detail: (1) Term: ………………………………………………………………………………………………
(2) Rental Year one: Tick ONE only
o Current Market Rent Review (see Clause 6.4)
o Other (insert as a Special Condition)
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Clause 1(6)
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Initial Rent Review Date: the initial date the rental amount charged to the Tenant is reviewed (as provided in Item (7) of the Item Schedule)
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Clause 1(7)
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Item: means items detailed in the Item Schedule of this Lease Agreement.
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Clause 1(10)
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Lease Term: the period of time set out in Item (1) of the Item Schedule.
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Clause 1(11)
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Premises: the premises referred to in Item (1) of the Item Schedule.
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Clause 1(13)
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Valuer’s Institute: Means the Australian Institute of Valuers and Land Economists (Inc) Queensland Division.
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Clause 2(5)
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column notes in the Item Schedule form part of this Agreement. the Item Schedule and any attached addendum pages and annexures shall form part of this Agreement.
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Clause 5.6
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If specified in Item (7) that the Rent amount is to be reviewed in accordance with Current Market Rent Review
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Clause 5.6(1)
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The Landlord may at any time not less than thirty (30) days prior to the date stated in Item (7) of the Item Schedule (Initial Rent Review Date) give written notice to the Tenant of the amount of Rent the Landlord believes is the Current Market Rent for the Premises as at the Initial Rent Review Date.
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Clause 5.6(3)
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If the Landlord gives written notice in accordance with Clause 5.6(1), the Tenant may give written notice to the Landlord within twenty-one (21) days of receipt of the Landlord’s notice disputing the Landlord’s assessment of the Current Market Rent.
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Clause 5.6(5)
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If the Tenant gives notice in accordance with Clause 5.6(4), the Current Market Rent will be determined by an independent Valuer appointed by the parties or failing agreement, nominated by the President for the time being of the Australian Property Institute (Queensland Division) on the Application of the Landlord or Tenant as follows:
(a)
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The Market Rent will be determined by a person (the Arbitrator) who has been a member of the Valuer’s Institute for at least five (5) years nominated by the President for the time being of the Valuer’s Institute on the Application of the Landlord or Tenant;
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(b)
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The Arbitrator will act as an Arbitrator in accordance with the Commercial Arbitration Act 1990; and
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Clause 5.6(6)
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The Valuer Arbitrator will determine the Current Market Rent of the Premises assuming:
(1)
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that the Tenant has complied with all obligations including those relating to and repair and decoration imposed by this Agreement;
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(2)
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that the lease covenants continue other than for quantum of Rent; and/or
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(3)
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any improvements made to the Premises by the Tenant had not been made.
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Clause 5.6(7)
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In any case, Current Market Rent or other, the Rent shall not be less than the rental charged at the expiration of the prior term.
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Clause 5.6(8)
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Once determined, the rental will be payable from the Initial Rent Review Date.
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Clause 5.6(9)
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The Landlord and the Tenant shall equally share any costs incurred relating to a rental determination under Clause 5.6.
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Clause 6.3
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The Tenant, having complied with Clause 6.1 & 6.2, the Landlord will grant a further lease of the Premises to the Tenant on the same Terms as this Agreement subject to Clause 6.4 excluding Item (8) of the Item Schedule and this Clause and otherwise varying Item (1) of the Item Schedule as to the Lease Commencement and Lease End Date.
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Clause 6.4
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Rental for the further term will be:
(a)
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as agreed between the parties
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Or failing agreement:
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(b)
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as provided in Item (8.2).
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(c)
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Provided however, where the rental is to be determined by market review, the Current Market Rent, it will be determined in accordance with the provisions of Clause 5.6 provided in such case the initial Rent Review Date will be 60 days prior to the expiry of the then current term and the Rent determined will be payable from the commencement date of the new term. by a Valuer within a reasonable time (not less than two months) prior to expiration of the current Term.
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(d)
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in any case market rent or other, the rent shall not be less than the rental charged at the expiration of the prior term.Clause 6.3(e)
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(e)
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once determined, the rental for the future term will be payable from the commencement date of the new term.
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Clause 6.5
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The Landlord and the Tenant shall equally share any costs incurred relating to a rental determination under Clause 6.4
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Clause 9.1(4)
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immediately on receipt of notice pay to the Landlord, the Landlord’s Outgoings in accordance with Item (13) of the Item Schedule no later than the due date specified in the Schedule.
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Clause 12.5
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Any dispute under this Clause will be determined by an independent a Valuer appointed by the president of the Australian Property Institute Incorporated (Queensland Division) at the request of either the Landlord or the Tenant. The Valuer will act as an expert and not an arbitrator; his determination will be final and binding including the determination and payment of costs.
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Clause 14.1
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The Tenant indemnifies the Landlord from and against all claims, demands, losses, damages and expenses including legal actions the Landlord may sustain or become liable for during or after this Agreement arising from:
(a)
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neglect or default by the Tenant or Tenant’s employees or any person for of whom the Tenant is legally responsible; or
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(b)
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the Tenant’s failure to give notice of service defects; or
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(c)
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damage to person or property caused or contributed to by the Tenant or Tenant’s employees; or
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(d)
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anything the Landlord is permitted or required to do under this Agreement unless the claim has arisen due to the negligence of the Landlord or its employees or contractors.
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Clause 15.2(a)
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re-enter and take possession of the Premises (by force if necessary) and eject the Tenant and all other persons and this Agreement will terminate; or
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Clause 16
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If a requirement for a Security Bond is provided for in Item (10) of the Item Schedule the Tenant must lodge with the Landlord a cash Deposit in the amount provided for in Item (10) of the Item Schedule or 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
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Clause 17.1(3)(1)
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have been approved by the Landlord
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Clause 25
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Dispute Resolution
25.1
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In case of disputes under this Agreement the Valuer has full authority to make final and binding decisions in situations where the Valuer is appointed by both parties to resolve such disputes.
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25.2
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The Landlord and the Tenant shall equally bear all costs in relation to a Valuer being appointed, unless otherwise specified. Such an appointment will be deemed an appointment under Clause 6.4.
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Clause 29
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Should any court or tribunal of competent jurisdiction determine any term, provision or obligation of this Agreement to be void, illegal or unenforceable by law, that term, provision or obligation must be read down to the extent possible or removed from the Agreement and whilst keeping the operation of the remainder of the Lease in effect.
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21 Apr 2011 v1.2
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Item 1
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Address: …………………….……...…………….………………………………….…………..…………..…...
…………………………………………….……………………….……………………………..…………………
Description: ……………………..………………………………………………….……(e.g.as shown on plan)
Lot No. ………… on Plan ………… Title Reference: ………..… Area of Premises:……..… m² (approx.)
Lease Commencement Date:…./.…/…. Lease End Date:…./..…/….
Lease Term:…...........................................…... Area of Premises:…………..………………m²(approx.)
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Item 5(2)
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Name: ……………..…………………………..……………………………………………………………………
Address: ……………………………………………..……………………………………………………………..
ABN: ………………….. Phone: …………..………. Fax:………..…………. Mobile:………………………..
Email: …………………………..…………………………………………………………………………………..
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Item 6
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Lease Commencement Date: …….…/………../………….. Lease End Date: ……..../……...…/………..
Lease Term: ………………………………………………………………………………………………………..
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Item 7
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Rent Payable year one: $………..…… including/excluding/plus GST per annum.
Monthly Rent $ ……………… including/plus GST payable weekly/fortnightly/monthly in advance on the: …………………………………………….
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Item 14
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Provided: __ Yes __ No Number allocated: ………………… License Agreement: __ Yes __ No
Description (car park location):.………………………………………………………………………………….
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Clause 1(3)
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Consumer Price Index (CPI): is the Consumer Price Index (All Groups Index) for Brisbane as published by the Australian Statistician.
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Clause 7.3(c)
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carry on any illegal activities or activities which could or interfere with the rights of other tenants; or
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Clause 7.3(e)
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not to operate audio equipment at a volume that can be heard external to the Premises.
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Clause 7.3(f)
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erect any signage on the exterior of the Premises without the Landlord’s consent.
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Clause 7.3(g)
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carry out an auction on the Premises.
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Clause 7.3(h)
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use any chemicals, burning fluids, volatile or explosive substances except in the normal course of the Tenant’s business permitted under this Agreement.
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Clause 7.3(i)
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except in the case of emergency, interfere with any fittings, fixtures or services including air conditioning or fire equipment without first obtaining the Landlord’s consent.
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Clause 17.1(2)
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have the following insurances:
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Clause 30
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Should any court or tribunal of competent jurisdiction determine any term, provision or obligation of this Agreement to be void, illegal or unenforceable by law, that term, provision or obligation must be read down to the extent possible or removed from the Agreement and whilst keeping the operation of the remainder of the Lease in effect.
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Clause 32
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The parties agree and confirm documents may be forwarded electronically to a person if that person the recipient has provided an email address or facsimile number, for delivery or service of documents, in the Item Schedule to this Agreement.
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01 Nov 2010 v1.1
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Item 11
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Name: ……………………………………………………… ABN: ……………………….....
Address: ……………………………………………………... Phone: ..…………………………
……………………………………………………… Fax: ………………………….
Email: ………………………………………………………. Mobile: ………………………….
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Item 15 Note
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The Special Conditions are inserted under instruction from a party to this Agreement and where not prepared by that party, were prepared by an Australian Legal Practitioner and not the Agent. No legal advice has been given or warranty provided by the Agent. Legal advice should be sought.
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Item 16 Warning
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WARNING: By signing this Agreement the parties confirm that no legal advice as to the conditions contained herein was provided by an Agent. The parties have been advised to seek legal advice with respect to this Agreement.
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Clause 1(1)
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Agreed Commission: the amount of commission specified in an agreement between the Landlord and the Landlord’s Agent.
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Clause 3
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The Tenant must pay the Deposit as required in Item (9) as directed by the Landlord and in the case of no specific direction, to the Landlord’s Managing Agent.
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Clause 20
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(1)
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Where the Landlord has appointed an the Agent in Item (10) as the Landlord’s Letting Agent only, the Tenant acknowledges and confirms, subject to Clause 19, after signing this Agreement all matters relating to this Agreement are to be referred directly to the Landlord or Landlord’s Managing Agent.
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(2)
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The Tenant acknowledges and confirms, subject to Clause 19, after signing this Agreement all matters relating to this Agreement are to be referred directly to the Landlord.
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Clause 31
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The parties agree and confirm documents may be forwarded electronically to a person if that person has provided an email address or facsimile number, for delivery or service of documents, in the Item Schedule to this Agreement.
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