SAMPLE AGREEMENT FOR THE LEASE OF ADVERTISEMENT

   LICENCE FOR THE USE OF COMMON AREAS

IN _________ PLAZA (PVT) LTD

             AGREEMENT FOR THE LEASE OF ADVERTISEMENT

THIS AGREEMENT made on this  06^th May day of  Two Thousand and Eleven between the ________ PLAZA (PVT) LTD CORPORATION CONDOMINIUM PLAN NO.3454 a body incorporated under the Apartment Ownership law Amendment Act No.45 of 1982 having its Registered Office at the First Floor (New Wing)  ________ PLAZA (PVT) LTD 250, R.A.De Samarasekara Mawatha Colombo - 13 in the Democratic Socialist Republic of Sri Lanka [hereinafter referred to as "the Corporation" which term where the context so requires or admits shall mean and include the said  ________ PLAZA (PVT) LTD its successors and assigns] of the ONE PART and  _________ TRADING (PVT) LTD of No.14, De Fonseka Place, Colombo 13, carrying in the said Republic [hereinafter called and referred to as "The User" which term shall where the context so requires or admits shall mean and include the said Softlogic Trading (Pvt) Ltd and her heirs executors and administrators ] of the OTHER PART.

 

                                                            W I T N E S S E T H

WHEREAS the ________ PLAZA (PVT) LTDis the owner of the common areas of the property called "LIBERTY PLAZA" situated at No.250, R.A.De Samarasekara Mawatha Colombo - 13 [hereinafter referred to as “the Premises"].

AND WHEREAS the ________ PLAZA (PVT) LTD has agreed to grant a licence to the User to display an advertisement [hereinafter called and referred to as " the advertisement"] on the three towers facing 250, R.A.De Samarasekara Mawatha Colombo - 13 and two escaletors within the liberty plaza complex as agreed by the parties hereto.

NOW THIS AGREEMENT WITNESSETH AND IT IS HEREBY AGREED BY AND BETWEEN THE PARTIES HERETO AS FOLLOWS: -

1.      The ________ PLAZA (PVT) LTD hereby grants a licence to the licensee to display an Advertisement at the place demarcated by the ________ PLAZA (PVT) LTD for a period in the said premises for a period commencing from the 06^th May 2011 and ending on 05^th November 2011.

(a)       The user Covenants and  agrees to pay the corporation a sum of Rs 1,508,559.36 (Rs. 1.32 M plus Taxes) for this six months period. Any other impositions or levies payable to the government will apply.

(b)      If the hoardings are to be lit up, ________ Trading (Pvt) Ltd has to pay the Corporation for electricity consumed, at Rs. 45/- per unit(K Whr), together with VAT and/or any other , impositions or levies payable to the government.

2.      At the end of each six months period if the user does not opt to renew, at a Lease Rent and terms and conditions determined at that time, by the Liberty Plaza ________ PLAZA (PVT) LTD, occupant will have to vacate premises.

3.      The User shall not display any advertisement or sign that may be contrary to the law morality or offend any religious susceptibility of any member of the Public or which in opinion of the Corporation is in conflict with the interests of the ________ PLAZA (PVT) LTD or any occupants at ________ PLAZA (PVT) LTD. The User further agrees and undertakes to abide by the decision of the ________ PLAZA (PVT) LTD in this regard which shall be final conclusive and binding.

4.      The Corporation shall not be liable in any way for any damage howsoever caused to any advertisement or structure due to voltage fluctuation, water damage or any other natural cause or reason.

5.      In the event of prohibitions of exhibiting any advertisement at the said location by any authority or institution that is beyond the control of the ________ PLAZA (PVT) LTD. The ________ PLAZA (PVT) LTD shall not be liable for any expenses damages or loss of income or profits incurred by the User.

6.      Any notice with regard to these presents shall be in writing and shall be sufficiently served on the parties if left addressed to them to their respective Registered Office addresses.

7.      Either party may terminate these presents prior to the expiry of this agreement by giving two (2) calendar months notice in writing of their intention of terminating these presents and in such event this agreement shall stand determined and terminated.

8.      If the user breaches any of the term, the ________ PLAZA (PVT) LTD shall be entitled to withdraw electricity or any other facilities supplied to the user.

9.      If the user fails to pay in full, in advance, for the period of renewal, the Corporation reserves the right to terminate the contract and remove the advertisement and sell this space to another advertiser.

THE COMMON SEAL OF THE WITHINNAMED                                   ]

________ PLAZA (PVT) LTD                                                     ]

CONDOMINIUM PLAN NO.3454 is hereto                                              ]

Affixed in the presence of  RATNAPALA TISERA                                       ]

and RATHOTIGE KAMANTHA who do attest the sealing thereof              ]                                  

WITNESSES:

1:

2:                                                                                                        

THE COMMON SEAL OF THE  WITHINNAMED            ]

________ TRADING (PVT) LTD is hereto affixed in]                     

the presence of  MR. ROSHAN PERERA……………   ]

who do attest the sealing hereof                                          ]

WITNESSES:

1.

2.        

DATE ………………..