Agreement of Lease

AGREEMENT OF LEASE

Made and entered into by and between:
Flambago 52 cc
Registration Number: 2011/044800/23
Trading as

STEPHANOPARK SELF STORAGE

(hereinafter referred to as the “Lessor”)

and

1. AGREEMENT OF LEASE

The LESSOR herby leases premises to the LESSEE, which hires the same from the LESSOR on the conditions set out in this Lease Agreement.

2. THE LEASED PREMISES

situated on PLOT NO 51 STEPHANOPARK, VANDERBIJLARK or better known as 51 Van Der Heever Str, Vanderbijlpark.

3. THE COMMENCEMENT AND DURATION FOR THE LEASE

and shall continue to exist until terminated by either one of the parties with THIRTY DAYS CALENDAR MONTH WRITTEN NOTICE at any given date and subject to the provisions of Clause 7 herein.

Termination of this Lease agreement by the LESSEE shall only be valid if the LESSOR has confirmed receipt of such notice in writing.

3.1 RENTAL

The rental payable by the LESSEE hereunder for the hire of the premises shall be

per month each.

4. ESCALATIONS

The rent payable by the LESSEE hereunder for the hire of the Leased premises shall be increased annually on the 1st day of March of each year and the increase shall be calculated and reviewed with not more than 10% (ten percent) of the rental paid in the final month of the previous year, rounded off to the nearest ten rand.

5. PAYMENTS

• Rentals shall be paid strictly in advance and not later than the first day of every month.

• The LESSEE shall fax or email proof of direct transfer or deposits into the bank account of the LESSOR to info@spselfstore.co.za. The unit number must be stated on all direct deposits. Failure to comply herewith shall automatically result in an overdue account.

• All payment to be made in terms of this Lease by the LESSEE to the LESSOR shall be made free of bank exchange at the address or directly transferred of deposited into the bank account as set out hereinafter provided.

• The LESSOR shall be entitled at any time to refuse to accept payments from the LESSEE made means of cheques or in any mode otherwise then in cash or any electronic payment.

6. BREACH OF CONTRACT

• The LESSEE shall pay an admin levy of R140-00 (one hundred and forty rand) to the LESSOR for each and every overdue payment due in terms of this agreement.

• If the LESSEE fails to comply with any of the terms and conditions of this agreement it is specifically agreed that the LESSOR has the right to deny the LESSEE access to the unit until the LESSEE has fully met his obligations.

• If the LESSEE fails to comply with any of the terms and conditions of this agreement the LESSOR will have the right to increase the deposit held in terms of clause 8 hereunder to an amount equal to two months rental.

• If the LESSEE further fails to remedy the breach of the contract within seven days after written notice to that effect, the LESSOR shall be entitled without prejudice of his rights to:

  • cancel the agreement and to resume occupation of the Unit;

  • claim for any damages, any cost or any outstanding money;

  • claim for further cost to store any such goods until disposal thereof;

  • claim for any legal cost based on attorney and client scale;

  • revert to any other remedy available by Law to the LESSOR

• It is specifically agreed that the LESSOR shall have the right to take possession of any goods in terms of its landlord’s hypothetic and sell or dispose of any such goods in any manner whatsoever including private sale, if the LESSEE fails to remedy the breach of contract within 21 days ofdispatch of a Notice in terms of 7.4 above send per email.

7. Deposits

• The LESSEE shall on the signing hereof pay a deposit equal to one month’s rental to the LESSOR.

• The LESSOR shall have the right of applying the whole or portion thereof towards payment of the rent of charges in terms of this contract or renovations or any other liability for which the LESSEE is responsible. If any portion of the deposit is so applied the LESSEE shall forthwith reinstate the deposit to its original amount.

• The LESSEE shall not be entitled to set off against the deposit any rent or other amount payable by him.

• The deposit shall be retained by the LESSOR or the Agents until the expiry of this Lease, the vacation of the premises by the LESSEE and the complete discharge of all the LESSEE’s obligations to the LESSOR arising from this Lease.

• The deposit will be refunded within seven days after all obligations have been met by the LESSEE and will be electronically transferred to the latest bank account details supplied by the LESSEE.

8. LIABILITY AND INSURANCE

• The LESSOR shall not be liable for any:

• claim whatsoever nature (whether in contract or delict) and whether for damages or otherwise arising, including but without the generality of the aforesaid.

• Any loss or damage arising from or in any way connected with any circumstance, cause on event beyond the reasonable control of the LESSOR, his nominees or agents whether negligent or otherwise.

• It is the obligation of the LESSEE to ensure that all goods are covered by comprehensive insurance at all times against any loss of whatsoever nature, including but not limited to damage or loss from burglary, theft, robbery, breakage, fire, storm, flood, earthquake, riots, strikes and to cover public liability of any kind by a reputable insurance company and the LESSOR shall have the right to request from the LESSEE written proof of such comprehensive insurance cover, if so required.

• Hereby undertake Stephanopark Self Storage to maintain the alarm system and buildings. If the alarm is out of order, there will be arrangements made for a guard until the alarm system is repaired. Stephanopark Self Storage cannot be held responsible for any natural disasters.

9. DOMICILE AND NOTICES

The parties choose domicilium citandi et executandi for all purpose hereunder as follow:

Notices sent by email will also be acceptable by both parties

The parties shall be entitled to change the addresses as above by notice in writing to the other party.

10. GENERAL

• The LESSEE shall not be entitled to sublet the unit without the prior written approval of the LESSOR.

• The LESSEE shall keep the unit in the same order and condition in which it was handed to him.

• The storage unit shall be used for the sole purpose of storage and for no other purpose whatsoever.

• The LESSEE shall not store any animals, goods that is illegal, toxic, flammable, corrosive or explosive of any nature or any goods that might jeopardize the insurance policy of the LESSOR.

• The LESSEE shall adhere to the rules as laid down by the LESSOR at all times and also as amended from time to time as far as access-control, parking, littering, use of the units and common area is concerned.

11. The conditions of this contract forms the whole agreement between the LESSOR and the LESSEE and any amendment, relaxation and/or additions shall not form part of this contract unless reduced in writing and singed by both the LESSOR and LESSEE.

12. The parties hereby consent to the jurisdiction of the Magistrate’s Court in terms of Section 45 of the Magistrate Court Act in regard to any action which may have to be instituted arising out of this agreement.

13. I hereby warrant that I have read and understand the conditions of the contract, that I am duly authorized to sign this agreement and hereby bind myself as co-principal for any debt that might arise in terms of this agreement.

Thus done and signed at Vanderbijlpark on this

PERSONAL INFORMATION OF LESSEE (TENANT)

RENTAL AND BANKING DETAILS

Gate Access Number 060 420 0801

Access to the premises shall be during the following hours:
Office hours: Monday to Friday: 08h00 – 16h30 By Appointment
Unit hours: Monday to Sunday 06h00 – 18h00

BANK DETAILS OF LESSOR

Bank Name: ABSA
Branch: 632 005
Account Name: Flambago 52 cc
Account Number: 409 639 3378
Account Type: Current/Cheque

Please use your Unit number as reference: Unit #

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