MEMORANDUM OF AGREEMENT OF LEASE

Made and entered into by and between:-

SHEREGUIDE INVESTMENTS (PRIVATE) LIMITED
Represented herein by
(Hereinafter called the Lessor) of the first part

And

(Hereinafter called the Lessee) of the second part

WHEREAS the Lessor is the owner of certain immovable property situated at

AND WHEREAS the Lessor and the Lessee have agreed for the former to let the
premises to the latter on certain terms and conditions

NOW THEREFORE IT IS HEREBY RECORDED THAT:-

1. LETTING AND HIRING

The Lessor lets the premises to the Lessee who hereby hires the same

2. RENTAL
2.1 The rental shall be the sum of United States Dollars One Thousand Two Hundred .
(US$1 200.00) per month subject to Clause 2.1.1 payable in advance free of exchange
and bank charges on the third day of each month.

2.1.1. Please note that new rent is $1200.00 effective 1 August 2023.

2.2 The rentals shall be paid to

2.3 Notwithstanding date of signing hereof, this agreement shall run for one year
commencing 1st of August 2023 and terminating on the 31st of July 2024
2.4 Should the Lessee fail to pay rentals on due date the balance shall attract interest at
prescribed current bank rate.

3. DURATION
Notwithstanding the date of signing hereof, this agreement shall run for one year
commencing 1st of August 2023 and terminating on the 31st of July 2024.

4. USE OF PREMISES
4.1 The premises are let for the purposes of conducting retail business and for all
purposes incidental thereto, but shall not be used for any other purpose whatsoever,
without the prior consent of the lessor, in writing.

4.2 The lessee shall not do, or allow to be done, and shall not make, use or allow to be
used, anything in respect of the premises, contrary to statute, local government edict, or
by-laws, in force from time to time, or which may expose the premises to the possibility
of damage from any cause, or nuisance to the general public.

4.3 All signage and external windows to the property must comply with the standards
laid down by the lessor, and prior written consent from the lessor must be obtained from
all new work, designs, alterations or additions.

4.4 No display or advertising sign may be erected or placed in or on the property,

without the prior written consent of the lessor , which displays or advertising signs shall
be removed when instructed by the lessor, or on termination of the lease period and all
damage made good at the lessee ’s expenses. It is specifically provided that the lessor
agrees to the erection of the standards signs/billboards.

5. REPAIRS AND MAINTENANCE

The property shall be deemed to be in good order and repair at the commencement of
the lease period, unless the lessee has given any written notification of any defects to
the lessor within fourteen days of the commencement of the lease. The lessee shall
keep the property In the same good order and repair as at commencement of the lease
period.

The lessee shall clean, maintain and pay all costs and charges relating to the
maintenance, repair and renovations of the interior of the property portion rented,
including the doors, windows, plate and other glass, lights and electrical fixtures, fittings,
equipment and cables.

The lessee shall maintain and repair the water and sanitary installation subject to the
lease, and shall keep drains and taps free of blockages, and comply with all rules and
regulations concerning the use of water, and the disposal of effluent and other waste
materials.

The lessee shall maintain and repair such electrical installations, and water borne
services, such, within the premises.

The lessee shall not connect any electrical appliances to the lightning system, nor allow
the use of electrical socket outlets for any purpose including cooking other than
standard office equipment.

6. INSURANCE
The lessor shall be responsible for the continued insurance of the premises where
necessary, in such sum, and against such risk as the lessor thinks fit. The lessee shall
not do or allow, or cause to be done any act, matter or thing whereby the insurance
rates in respect of the premises shall be increased, or any policy invalidated and the
lessee shall be liable to the lessor for any expense, loss or damage so suffered by the
lessor.
The lessee shall be sorely responsible for any insurance he/she may require in respect
of his own property kept on the premises. The lessor shall not be liable for any loss or
damage to the lessee or his/her employees or third property, or licences or invitees and
their property, whether such loss or damage be caused directly or indirectly by any
effect, structural or otherwise.

7. PROPERTY PROTECTION
The , lessee, his employees, agents and contractors, shall take all reasonable steps to
avoid fire, or other damage within the premises, and the lessee shall make good all
such damage as may be so caused.

The lesee shall promptly advise the lessor of the loss of any keys, and shall return all
keys to the lessor at the termination of lease. The lessor shall charge the cost of all
locks, and keys replaced by the lessor, following the loss or non-return as provided
above.
He lessee shall ensure that all external doors to the property, over which he has control
or access, are locked when the property is closed.

8. RATES
All rate and other statutory charges and taxes in respect of the premises shall be the
responsibility of the lessor.

9. WATER AND ELECTRICITY

The lessee shall pay United States Thirty Dollars per month for electricity. The lessee
shall also pay for his/her water as the bill comes on or before the 3rd day of each month.

10. CESSION, ASSIGNMENTS AND SUBLETTING

The lessee shall not during this lease, cede or assign his rights or obligations under this
agreement, sub-let to more than one sub tenant or grant any right of occupation in
respect of the premises or any part thereof, without the prior written approval of the
lessor.

11. NOTICE
The parties to this agreement agree to advise the other, in writing at least one full
calendar month in advance of any intended termination of this lease.

12. VARIATION
No agreement at variance with the terms and conditions of this agreement shall be
binding on the parties unless confirmed in writing by the parties hereto and signed by
the parties.

13. LAW, REGULATIONS AND RULES

The lessee and his/her employees, agents and contractors shall not breach any law,
regulations or statutory enactment of any kind in regard to the occupation and use of the
property.

The lessor shall not be obliged to decorate, repair, renovate, alter, or improve the
property to conform to the lessee’s requirement or the requirement of any local or other
authority.

The lessee shall not make any alterations or additions to the premises without the
consent of the lessor in writing and the lessee shall not be entitled to any compensation
at the termination of this lease for any improvements so made by him.
14. LIMITATIONS OF LESSOR’S (LIABILITY AND OBLIGATION)
The lessor shall not be liable to the lessee for any injury, loss or damage which the
lessee, his employees, agents or visitors suffer as a result of:-
I. Any happening in or about the property
II. Any theft, malicious damage, assault or other unlawful act
III. Any defect, flaw or failure of any fittings, fixtures, appliances, plant, machinery
and equipment within the property
IV. The lessor for any reason beyond his control not being able to give occupation
of the property on the commencing date of the lease
V. The failure or interruption of electricity, water or other services supplied to the
premises or mechanical or electrical plant and services within the premises
VI. Unless the injury, loss or damage is attributed to the negligence or wilfulness of
any of the lessor’s employees, agents or contractors.

15. BREACH OF LEASE

In the event of:-
I. Non-payment of rent or any portion thereof on due date (3rd day of the month),
or
II. The lessee becoming insolvent or executing any statutory assignment, or
III. The lessee absconding, deserting or vacating without giving proper notice

The lessor shall have the right to cancel the lease forthwith and obtain possession of
the premises and the contents thereof which becomes the lessor’s hypothec without
prejudice.

If the lessee remains in occupation after the lessor has cancelled the lease and
disputes the lessor ’s right to cancel the lease, the lessee shall, pending settlement or
resolution of the dispute, continue to pay an amount equivalent to the rent and other
sums due in terms of the lease and the lessor shall be entitled to accept and recover
such payment without prejudice to or effect on the lessor’s claim to the cancellation in
dispute and if the lessor obtains judgement; the payments thereof shall be deemed to
be amounts paid by lessee on account of damages suffered by lessor by reason of
unlawfully holding over by the lessee.

Any relaxation, indulgence or waiver which the lessor may grant to the lessee any
condonation by the lessor or any breach of the terms of this lease shall not become
binding on the lessor who shall at all times be entitled to claim due the proper
performance by the lessee of his obligations.

16. JURISDICTION
The parties hereby agree to the jurisdiction of the Magistrate’s Court for the Midlands
Province, Kwekwe for any action arising from this Agreement and that this Agreement
constitutes the entire agreement between the parties and no variance or stipulations not
included herein shall be of any force or effect unless reduced to writing and signed by
the parties.

17. DOMICILUM CITANDI

The lessee hereby chooses domicilium citandi et executandi at the physical address set
out herein and in respect of written notices at the addresses as provided by the parties
herein

The lessor:
The lessee:
THUS DONE and SIGNED at KWEKWE on this ...................day of ................................2023

AS WITNESSES

1.........................................................

2.........................................................
...........................................................................

THUS DONE and SIGNED at KWEKWE on this .............day of ..............................2023

...........................................................................

AS WITNESSES

1.........................................................

2.........................................................