LEASE
In Xxxxxxxx de Chile, on September 1, 1998, between XXX XXXXXX LTDA., Tax List
Only number seventy-eight million five hundred forty-five thousand seven hundred
seventy-six represented by Xx. Xxxxxxxx Xxxxxxxxx Xxxxx, National I.D. number
five million eight hundred fifty-three thousand three hundred forty-nine-1, both
with domicile at number 5100 Camino Lo Xxxx, Municipality of Renca Xxxxxxxx,
hereinafter called the "Lessor," and TEPUAL S.A., Tax List Only number
eighty-nine million one hundred fifteen thousand four hundred-3, represented by
Xx. Xxxxx Xxxxxxxx Xxxxxxxxx, National I.D. number six million fifty thousand
nine hundred thirty-eight-7, both domiciled at number 000, Xxxxxxx Xxxxxx
Xxxxxx, municipality of Recoleta Santiago, hereinafter called the "Lessee," the
parties came to agreement on the following rental contract.
FIRST: XXX XXXXXX LTDA. is a company which renders services for rentals and
storage, and in this capacity gave in rental the warehouses numbers five and six
of the establishment located at number 5100, Camino Lo Xxxx, municipality of
Renca Xxxxxxxx, both equivalent to two thousand two hundred meters.
SECOND: The Lessee states that the goods which she is storing are her own
property, and that they are not affected by any embargo, encumbrance,
litigation, resolutory condition resolution or limitation whatsoever. Each entry
of goods belonging to the lessee shall be documented with the corresponding
Receipt Waybills. At the same time, the removal or restitutions of species shall
be documented with the corresponding Shipping Waybills.
THIRD: For the item of monthly rental, the Lessor shall receive the amount of
UF240,231 (Two hundred forty thousand, two hundred thirty-one Development Units
(UF) plus the Tax for Value Added (IVA), which shall be paid in advance, amount
for which the corresponding invoice shall be issued. In the event that the
Lessor should be found in arrears in the payment of one or more of the rentals,
the Lessee is empowered to withhold any or part of the goods with the purpose of
making full payment of the debt with the product of their sale. The amounts owed
shall be returned at maximum conventional interest, counting from the arrears,
FOURTH: The Lessor shall also grant services for loading and unloading of
40-foot containers which shall have a value of $22,000.- Outside of normal
working hours in the installations, the Lessor shall charge additionally $8,000
plus IVA for each hour needed in carrying out the work indicated, plus $700 per
ton for loading or unloading.
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FIFTH: This lease shall have an indefinite period of duration, but in any case,
the Lessee would be able to terminate it in writing with advance notice of at
least 30 days. For his part, the lessor can terminate the contract with advance
notice of 30 days, through certified mail addressed to the domicile of the
lessee
SIXTH: The following shall be the conditions for the lease:
a) The entry and exit of merchandise must be made within the time frame
which XXX XXXXXX LTDA. has in effect for such purpose. This is from
Monday to Friday, 0900 hours A.M. to 1830 hours P.M.
b) Partial or complete removals shall require the full payment of the
rents owed by the lessee to the lessor, including the reimbursement of
any additional expense which the latter may have incurred for proper
preservation of the goods stored.
c) After removal of the goods from the warehouse by the lessee, he cannot
claim any deterioration, reduction of size, loss or, in general,
damages and losses regarding the quantity or quality of said goods that
the lessee may have claimed in writing in the corresponding Shipping
Waybill, it otherwise being understood that they were received in
perfect condition.
d) Any withdrawal of the species stored shall be for the exclusive
responsibility of the lessee. In any case, the removal of parts, items
of species, liquids, etc., contained in boxes, cases, buckets, trunks,
wrappings, packages, drums, jars, etc. is prohibited. In each case the
removal of the complete unit must be made.
e) The lessor has insurance exclusively for his installations.
The lessee must ensure the species against natural or accidental
catastrophes, this without any obligation or responsibility whatsoever
for the lessor, unless otherwise instructed in writing from the lessee
so specifying, with copy of the respective policy, and the existence of
insurance covering the merchandise, the lessee gives the lessor the
right to contract to contract for his (the lessor's) own charge, the
payment of which shall be charged to the lessee. For purposes of
contracting of insurance, the evaluation of the merchandise shall be
made according to what the corresponding Delivery Waybill and or
Shipping Waybill and/or a statement of values may indicate.
Additionally, the evaluation which the lessor may make according to his
criteria, and which can be adjusted according to market conditions
shall be accepted by the lessee.
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f) Weapons, explosives, flammable substances, acids, perishables, or any
other objects which can decompose or contaminate, cause damages to the
warehouse or to other objects deposited shall not be admitted. In the
event that the species, due to their own shortcomings or for any other
reason cause damage to the warehouse or other objects stored, these
must be removed by the lessor within three work days counted from the
communication from the lessee, and if within this period the former has
not made the removal, it is understood that the lessor has abandoned
the merchandise, with the lessor empowered to sell it in the form and
under the conditions which are stipulated, without the corresponding
publication or notice being required.
g) Those persons who may, at the expense of the lessor, remove goods from
the warehouse must present a letter of authorization for so doing. In
any case, the persons who sign the Receipt or Shipping Waybills for the
lessee shall be understood to represent them validly and that their
signatures registered in the warehouse of the lessor also are binding
upon the lessee.
SEVENTH: Any difficulty which the parties should encounter because of this
contract, especially in such matters as concern its interpretation, term,
validity, performance or non-performance, or any other matter, shall be resolved
by an arbitrator against whose resolutions there shall be no recourse whatsoever
other than appeal. For these purposes, the parties appoint Xx. Xxxxxx Xxxxxxx A.
and if he cannot or does not wish to carry out the task, Mr. _____________ shall
be named. If neither of the above named arbiters will accept their appointment,
Ordinary Law must do so, making the appointment of a titled professor from the
Faculty of Civil or Business Law of the Pontifical Catholic University of Chile
or the University of Chile. The arbiter named by the Ordinary Court shall be
arbitrator regarding the procedure and in law regarding the decision.
EIGHTH: This contract for all effects shall have a duration of one (1) year from
date of its signing, renewable upon agreement of the parties. if this latter
does not occur, it shall be understood as renewed for a new period.
NINTH: this contract is signed in two originals, one for each party. For all
purposes of this contract, the parties set their domicile in the city of
Santiago, and submit to the jurisdiction of its courts.
(Signature illegible) (Signature illegible):
XXX XXXXXX LTDA. TEPUAL, S.A.
Don Xxxxxxxx Xxxxxxxxx Xxxxx Xx. Xxxxx Xxxxxxxx Xxxxxxxxx
5,853,349-1 89,115,400-3
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