EXHIBIT 10.1.1
LEASE AGREEMENT
THIS AGREEMENT OF LEASE ENTERED AT LAHORE THIS IS 1ST DAY OF JULY 2002
Mrs Samina Hijab W/O Masood Hahi through General Power of Attorney Mr. Ibrar
Ahmad S/O Nisar Ahamad Malik resident of 4-Tariq Block, New Garden Town, Lahore
hereinafter called the LESSOR; which expression shall unless repugnant to the
context means and in clued here legal hires, executor; administrator and
assignees; party of the ONE PART
AND
ESSENTAIL -TEC (PVT) LTD 458-K MODEL TOWN; LAHORE: hereinafter called the
LESSEE; which shell unless repugnant to the context means and include its
administrator; successor-in-interest, executor and assignees; party of the OTHER
PART.
WHEREAS the party over the ONE PART is the absolute owner of the property no.
458-K Model Town.Ext; Lahore and she has full authority to let the house. This
house is taken for office but there will be no public dealing in that office and
no signboard will be placed outside the building.
AND WHEREAS the party of the ONE PART has decided to lease the above mention
property in favor of the LESSEE for a period of twelve (12) months with effect
from 1st july 2002 and the LESSEE is desirons of taking on lease of the said
premises to have residence on such and conditions as indicated herein below.
THIS AGREEMENT WITNESSETH BELOW:
1. That the property has been leased to the LESSEE for the period of
twelve months commencing from 1st July 2002 and expiring 30th June
2003 at a monthly rent of 289737.
/s/ Ibrar Ahmad /s/ Shuaid Rana
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LESSOR LESSEE
Page 2
2. I and advance rent for the entire period of six months amounting RS:
173838 has been paid by the LESSEE to party of ONE PART.
3. That the lessee has paid a sum of RS: 50,000/- as security Deposit
which will be refunded by the LESSOR to the LESSEE at the time of
vacation of the premises (including in the payment at page 2 above)
4: That the period of lease will commence from the 1st of July 2002 and
shall be terminated on 30th June 2003 . The parties can effect the
renewal of the lease by their mutual consent only through the
agreement . in case the lessee intends by maturity to vacant the
premises before the maturity of the agreement he will give clear 2
months notice to the lesser in advance.
5. That the vacant physical possession of the property shall be handed
over to the LESSOR on termination of lease expiring on 30th June 2003,
the lessee will handover the possession to the party of the one part
unless the lease is renewed for further period. if a two months notice
from either party id not given at the expiry of this agreement the
contract will assumed renewed at 8% applicable on the original Rent RS
31907- and increase added every year i.e 1st July each year.
6. That the lease is not entitles to make any alteration of additions
etc; in the premises without prior written consent of the LESSOR.
7. That the LESSEE is responsible for the sale custody of all fixture
fittings, installation and in case of any damage caused to the fixture
etc. it will be repaired or replace at the cost of the LESSEE.
(inventor of fixture etc to be prepared signed by both parties before
occupation. which shall become part of this agreement .) Shall
maintain Garden; Plants, and Plague etc. Rocky
/s/ Ibrar Ahmad /s/ Shuaid Rana
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LESSOR LESSEE
Page 3
8. That the LESSEE shall handover the vacant possession of the premises
in the time of vacation to the LESSOR or her authorized agent on a
valid receipt. The LESSEE shall not be entitled to sublet in premises
to anyone else.
9. That the LESSEE will also pay essential service bills the water,
Electricity, Sui Gas and Telephone charges to the respective
department directly in addition to the above mentioned montly rent and
provide a copy of receipt to LESSOR.
10. That the entire party can terminate the lease by giving two months
notice without assigning any reason. in such events the LESSOR shall
return to the lessee the balance for UNUTILIZED period of the advance
rent; promptly on such termination.
11. The lessee will Handover the House of the LESSOR in the same condition
he had take over at the time of occupancy.
IN WITHNESS WHEREOF, the parties have set and subscribed their hands hereunder
at lahore on the day and year montioned above.
/s/ Ibrar Ahmad /s/ Shuaid Rana
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LESSOR LESSEE
On behalf of: Samina Hijab General Manager, On behalf of Esstec, Inc.
Witness
/s/ Muhammad Asim
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