LEASE AGREEMENT
Exhibit 10.26
ADDENDUM TO THE
Made and entered into by and between
BUZZ TRADING 199 (PTY) LTD
Registration Number 2007/021617/07
Represented by: Xxxxx Xxxxxxx Xxxxxxx Chalwin-Xxxxxx
ID Number: xxx
(“the Landlord”)
AND
NET 0 XXXXXXX XXXXXXXXXXXX XXXXX XXXXXX LIMITED
Registration Number 2002/031446/06
Represented by: Xxxxx X. Xxxx
ID Number: xxx
(“the Tenant”)
in respect of certain premises situated at
President Place, Cnr Hood and Xxxxxx Roads, Rosebank
Reg. No. 2001/005175/07
WHEREAS
the parties hereto entered into an Agreement of lease, pertaining to the premises
measuring approx. 8063.65 square meters, situated at Xxxxxxxxx Xxxxx, 0 Xxxx Xxxxxx, Xxxxxxxx,
Xxxxxxxxxxxx. The premises comprise of the following:
Section
1
Floor
Basement1
Wing
SQM
620.00
2
Ground Floor
West Wing
221.66
8
Ground Floor
North Wing
150.29
00
0
xx
Xxxx Wing
938.72
00
0
xx
North Wing
938.72
00
0
xx
Xxxx Wing
938.70
00
0
xx
Xxxxx Wing
938.70
00
0
xx
Xxxx Wing
938.70
00
0
xx
Xxxxx Wing
938.70
00
0
xx
Xxxx Wing
716.73
00
0
xx
Xxxxx Wing
722.73
STORAGE 1 - BASEMENT 1 4 PARKING BAYS
STORAGE 2 - BASEMENT 3
8
PARKING BAYS
AND WHEREAS
the Lessor and Lessee has agreed to extend the main lease for a further period of 6
(Six) years;
Now
therefore
ft is agreed
as follows:
•
1.
That the lease term Is• extended for a period of 6 (Six) years, commencing on the 01
June 2022 and expiring on 1he 31 May 2028.
2. That all terms and conditions of the main Lease Agreement signed on the 7 May
2013, will remain for the extended period of this Addendum.
3. That the monthly rental throughout the initial period payable by the
LESSEE
to the
LESSOR
shall be:
Monthly
Net Rental,
Parking
and
Storage
fixed
for the Lease period:
Period
Amount Excl VAT
Escalation
1 June 2022- 31 May 2028
R886 000.00
0.00%
Monthl
IY
0
,nera
ti
ng
C
osts:
Initial Rates
&
Taxes:
This charge as at the 01 June 2022 ls R 199 992.66 per month
(ex Vat) escalating annually as per the council increases per annum. The next Increases will
be passed on the 01 July 2022.
Parking:
250 basement bays
storerooms:
Total of 12 parking bays
4. Additional
The tenant will be liable for the following additional monthly charges:
Period
Amount
Exc
l
VAT
Escalation
1 June 2022 - 31 May 2023
R
326 621.00
5.00%
1
June
2023 - 31 May 2024
R
342 952
.
05
5
.
00%
1
June
2024 -
31
Mav 2025
R
360 099
.
65
5
.
00%
1
June
2025 - 31 May 2026
R378104.64
5
.
00%
1
June 2026
-
31 Mav 2027
R
397 009.87
5
.
00
%
1 June
2027 - 31
Mav
2028
R
416 860.37
5
,
00%
4.1
Electricity-
The metered cost of all electricity consumed by the Tenant at the tariff to the
Tenant plus a charge for reading the meter. If not metered, consumption will
be calculated according to the area of the premises in relation to the gross
lettable area ("gla”) of the building. In addition to the aforementioned the
tenant will be liable to pay pro rata share in proportion to the gross lettable
area of the building of the electricity consumed within the common area or
areas of the building, including the electricity consumed by the air
conditioning system servicing the common areas.
4.2
Water-
The metered cost of all water consumed by the Tenant. If not metered,
consumption will be calculated according to the area of the premises in
relation to the gross lettable area ("gla”) of the building.
4.3
Sewerage
&
Refuse:
A
prorata share of the municipal charges for refuse removal,
sewerage and other sanitation related charges; provided that if the volume of
refuse generated by the tenant is higher, per square meter of space occupied,
than the average, the calculation will be weighted to take account thereof;
5 Tenant
Installation
The Landlord shall contribute a maximum amount of R 9 000 000,00 (nine million rand)(ex
VAT) towards the Tenants cost for the remodeling of the Tenants rented space, which
amount shall be payable against approved construction invoices (payment terms). Please
note thal specifically no amounts will be paid towards any furniture or moveable assets.
6 Slgnage
The Tenant shall be given 3 months usage of the new Signage Boards at no additional cost.
Should the tenant decide to extend this period the tenant will deal directly with Epic Outdoor
and will be expected to cover the monthly costs of placement.
7.
Walkway upgrade
The Landlord is committed to the upgrading of the walkways between floors three - six. Please
further note that no Furniture will be provided by the Landlord.
Apart from the amendments contained herein, the terms and conditions of the Main Lease
shall apply to this Addendum.
The
domicilium
citandi et executandi
of
Net1
Applied Technologies
South Africa Limited is
President Xxxxx
0
xx
Floor West Wing
0 Xxxx Xxxxxx
Xxxxxxxx
Dated at Rosebank this 14
th
/s/ Xxxxx Chalwin Xxxxxx
________________________________________
For and behalf of XXXXXX
As Witnesses:
Dated at Rosebank this 14
th
/x/ Xxxxx X. Xxxx
________________________________________
For and behalf of XXXXXX
As Witnesses:
