LEASE AGREEMENT OF IMMOVABLE PROPERTY

1. PARTIES

The LESSOR

1.1 Full Names: ___________________________________________________

I.D. Number: ___________________________________________________

OF ADDRESS: ___________________________________________________

___________________________________________________

___________________________________________________

TEL: ______________________ CELL: ____________________

The LESSEE

1.2 Full Names: ___________________________________________________

I.D. Number: ___________________________________________________

OF ADDRESS: ___________________________________________________

___________________________________________________

___________________________________________________

TEL: _____________________ CELL: ___________________

2. THE LEASED PREMISES

_________________________, Situated at ____________________, in the town of

__________

Including therein on the following terms and conditions:

3. LEASE PERIOD

3.1 The lease is for a FIXED period of 6 MONTHS and shall only be terminable by
either party giving the other 1 (One) calendar month’ written notice of intention
to terminate this lease IN MONTH 5, provided however, that the said notice may
only be given and received on or before the first 1st day of any calendar month.

3.2 Rental Period: __________________________________________on which date

the LESSEE undertakes to vacate the property.
3.3 Prior occupation will be given to the LESSEE on the ___ OF ___________ 20___
and pro-rata rent in the amount of N$ ___will be payable on date of occupation.

4. RENEWAL

The Lessee will have the option to renew this lease for a further 6 months’ Notice of
renewal should be given in writing in month five (5) and is subject to the acceptance and
signature of the lessor.

5. RENT

The rent for the period is N$ ______(_______N$) per month payable monthly in
advance on or before the first day of each and every month; free from any deduction
whatsoever or bank exchange, to be paid to THE LESSOR at

BANK: ________________________________________________

BRANCH: ________________________________________________

ACCOUNT NAME: ________________________________________________

ACCOUNT NUMBER: ________________________________________________

or at such place as the Lessor may in writing designate for the purpose from time to
time. It is expected of the LESSEE to either sign a debit order for the total amount for
the period of this Lease or by internet transfer and send confirmation to.

5.1 The Lessee also accepts that interest at the highest penalty rate as permitted by
the law (20% per annum calculated daily and capitalized monthly) is also
payable on all outstanding accounts

5.2 The Rental shall be subjected to an escalation of __ % per annum. Escalation

amount will be added to the original rent and will have effect on the renewal
date.

5.3 Payments of rental received after the 7th day of the month in respect of which
the rental is due, shall be subject to surcharge of N$ 1000-00 (One thousand
Namibian dollar) to cover the collection fees and or additional administrational
costs. The Lessee shall on demand pay such surcharges to the Lessor or to the
Estate agent, acting on behalf of the Lessor.

6. THE LESSEE SHALL BE LIABLE AND RESPONSIBLE

6.1 For the payment of all charges for electricity as well as water supplied to the
property. The Lessee shall also be responsible for Refuse Removal Charges.

6.2 Pay all amounts due in terms of this lease free of exchange.

6.3 Not cede or assign the lease.

6.4 Use the leased property only for residential purposes unless the LESSOR’S
written consent to the use for other purposes is obtained.

6.5 Keep the property clean, habitable and tidy and care for and maintain the
garden and swimming pool (if any)

6.6 Not make structural or other alterations, additions to or improvements in or on

the property without the written consent of the LESSOR.

6.7 Permit the LESSOR or his duly authorized Agent to inspect the property at all
reasonable times during the currency of this lease.

6.8 Be responsible for the maintenance, upkeep and / or decoration, as the case
may be, of the interior of the property including all ceilings, all wall and floor
coverings, all doors and windows, all cooking, heating, cooling, lighting,
plumbing and air-conditioning installations (and any part of any such doors,
windows and installations) all other fixtures, fittings, furnishings and any
machinery and equipment in or on the property. And for the replacement of
consumables like electric globes, neon tubes, tap washers, lamp shades, sanitary
appliances and curtain railings.

6.9 Not cause any noise or nuisance, which would in any way disturb the quiet and
peaceful occupation of his neighbors and other guests residing on the property.

6.10 To maintain the premises in the same good order and state of repair as the
same shall be on the date when possession was taken, reasonable wear and
tear excepted.

6.11 For all glass mirrors which may be damaged;

6.12 For all keys received by him/her;

6.13 To report in writing to the Lessor any defects within 7 (seven) days after date of
occupation failing which the Lessee acknowledges to have received the
premises and equipment in good order and condition.

6.14 For the maintenance of all electrical equipment, which may be on the premises,
and should the Lessee default then, the Lessor may effect such maintenance
and recover the cost of any repairs from the Lessee provided same are not
necessitated by latent defects in material or design or by normal wear and tear.

6. 15 The Lessee may not without the prior written consent of the Lessor first had and
obtained assign or sublet the leased premises or any portion thereof; which
written approval shall not be unreasonably withheld.

6.17 The Lessee shall not alter or remove any existing or permanent plants in the
garden. The condition shall not prevent normal pruning, trimming and
maintenance of such plants.
6.18 The Lessee shall upon the expiration or earlier termination of this lease, deliver
possession of the leased premises to the Lessor in like good order and condition
as same shall be in on the date when possession of the premises shall be given.

7. THE LESSOR SHALL

7.1 Be responsible for the maintenance and upkeep of the exterior of the leased
premises and shall maintain the walls and roof in good order.

7.2 Not be responsible for any damage caused to the LESSEE by leakage, rain, hail,
snow, fire or interruption of water or electricity supplies or any cause
whatsoever.

7.3 Be responsible for payment of all rates and taxes which may be levied in respect
of the leased premises.

7.4 Be entitled at any time during the currency of the lease to require the LESSEE to
reinstate the property at the LESSEE’S expense to the same condition as it was
at date hereof.

7.5 Forthwith repair any structural defects, which appear in the property.

8. TOTAL OR PARTIAL DESTRUCTION

In the event of the total or partial destruction of the property or any portion by any cause
the LESSOR shall be entitled to terminate the lease failing which it shall continue, but the
LESSEE shall during the period during which the property or part thereof is unfit for
occupation be entitled to a proportionate abatement of rent. The LESSEE shall have no
claim for compensation against the LESSOR, but should the destruction be due to the
default or negligence of the LESSEE, his family, servants or persons occupying the property
under him, the LESSOR shall under these circumstances be entitled to claim payment of
such damages as the LESSOR may have suffered.

9. FAILURE TO PAY RENT

Should the LESSEE fail to pay the rent or any portion thereof on its due date, or breach any
other condition of this Lease, and remain in default for seven days after receipt of notice
to the LESSEE requiring payment of the rent or the remedy of the breach, as the case may
be, or if the LESSEE shall become insolvent, the LESSOR shall have the right forthwith to
cancel this lease and to re-enter upon and take possession of the leased property, without
prejudice to any claim which the LESSOR may have against the LESSEE for the rent already
due or damages for breach of contract or otherwise.

If the LESSOR cancels this Lease and the LESSEE disputes the right to cancel and remains in
occupation of the property the LESSEE shall pending settlement or resolution of any
dispute either by negotiation or litigation continue to pay an amount equivalent to the
monthly rental provided in this lease monthly in advance and the first day of each month
and the LESSOR shall be entitled to accept and recover such payment the acceptance of
which shall be without prejudice to and shall not in any way affect the LESSOR’S claim to
cancellation then in dispute. If the dispute is resolved in favor of the LESSOR, the
payments made and received in terms of this clause shall be deemed to be amounts paid
by the LESSEE on account of damages suffered by the LESSOR by reason of the
cancellation of this lease and / or the unlawful holding over by the LESSEE.

10. WAIVER

Any relaxation or waiver which the LESSOR or his Agents may grant to the LESSEE or any
condemnation the LESSOR of 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 and prompt
performance by the lessee of all obligations.

11. NOTICE

Any notice which the LESSOR requires to give to the lessee shall be deemed to have been
validity given if sent by pre-paid registered letter to the LESSEE at the property or left by
the LESSOR or his Agent at such address, which notice shall be deemed to have been
received 3 days after posting by registered post, or on the day the notice was delivered by
hand in terms of these presents.

12. DOMICILIA CITANDE ET EXECUTANDE

The LESSEE chooses the property as his domicile citande et executandi and consents to
the jurisdiction of the Magistrate’s Court in respect of any legal proceedings arising out of
this lease.

13. VARIATION

No variation of the terms of this lease shall be of any effect unless reduced to writing and
signed by the LESSOR and LESSEE or their duly appointed Agents or Agents.

14. COSTS AND STAMP DUTY

The LESSEE thereon shall pay the cost of this lease agreement together with the Stamp Duty,
N$ ____________ (___________________________________________________N$)

15. DEPOSIT

15.1 The LESSEE shall pay a deposit of (N$) on signing of this agreement to the
LESSOR - to be kept by him / her in a separate account until termination of the
lease.

15.1.1 If the tenant moves out within the period of less than 6 months, the deposit will
not be refunded.

15.2 On termination of the lease after the agreed rental period of 6 months, the
deposit shall be dealt with as follows:

15.2.1 The LESSOR may in his discretion apply the Deposit towards the
Payment of all amounts for which the LESSEE is liable under this
Agreement including, but not without limitation, arrears Rental, unpaid
Electricity and telephone accounts, the cost of repairing damage to the
Premises, and / or replacing lost keys, and

15.2.2 The Balance of the Deposit (if any) shall be refunded to the LESSEE as
soon as possible, but not later than 30 days after termination of the
lease.

15.3 Should the lease agreement be renewed in terms of clause 4 - the

deposit will be adjusted to the agreed escalated amount in terms of
clause 5.1. On the effective date, the lessee hereby agrees to pay the
escalated difference of the deposit amount to the Lessor.

15.4 The deposit may not be set-off by the Lessee against any rental due.

16. SPECIAL CONDITION

Tenant to be aware that an Air- B&B is operated on the remaining part of the property. No Loud
Music and pets are allowed on the property.

Water Leakages must be reported immediately to the Lessor.

Signed at Lüderitz on the ______ day of _________________ 20__________

__________________ _________________
LESSOR WITNESS

Signed at Lüderitz on the ______ day of _________________ 20__

__________________ _________________
LESSEE WITNESS

Signed at Lüderitz on the ______ day of _________________ 20__

__________________ _________________
AGENT WITNESS