EXHIBIT 10(v) COMMERCIAL LEASE HEADS OF AGREEMENT COMMERCIAL LEASE OF PREMISES 1. Landlord Western Japan Investments Limited 2. Tenant Cyberuni.Ac NZ Limited
EXHIBIT 10(v)
COMMERCIAL LEASE
111
HEADS OF AGREEMENT
COMMERCIAL LEASE OF PREMISES
1. Landlord Western Japan Investments Limited
2. Tenant Xxxxxxxx.Xx NZ Limited
3. Premises First Floor, 00 Xxxxxxx Xxxxxx, Xxxxxxx
Measuring approx. 4,244 sqft as per
attached plan.
4. Rent - Premises Year 1
2,747.25 sqft @ $18.20 psqft gross =
$50,000 plus GST 1,496.75 sqft rent free
Year 2
3,615.38 sqft @$18.20 psqft gross =
$65,800 plus GST 628.62 sqft rent free
Year 3
4,244 sqft @ $18.20 psqft gross = 77,250
plus GST
Car Parks 5 car parks @ $50 per week each
plus GST as allocated from time to time,
and available from 1/4/00.
5. Term Three years commencing 1 May 2000.
6. Right of Renewal One three year period.
7. Final Expiry 30 April 2006
8. Access to Premises The tenant shall have immediate access to
the premises (subject to remedial works
currently undertaken) and access to the
car parks from 01/04/00.
9. Use of Premises Offices in accordance with the operative
district scheme for the time being of the
Auckland City Counsel.
10. Other Conditions The tenant will arrange for payment of
rental by monthly bank authority direct
to the landlord's account. Monthly
payments in the first year shall be
$5,250.00 plus GST
The tenant shall:
(a) Keep and maintain the premises in
the same clean order, repair and
condition as they were in at the
commencement of this lease; and
112
(b) The tenant shall not alter the
premises in any way without the
expressed written permission of the
landlord.
11. Rent Payment Dates The first day of each month commencing 1
May 2000 by direct credit to the
landlord's bank account.
12. Lease Agreement The tenant agrees to enter into a lease
of the premises for a period of 3 years
commencing on 1 May 2000. The terms and
conditions of the lease are those
included in the Standard Auckland
District Law Society Lease, Third
Edition, together with the Landlord's
Standard Amendments attached.
13. In consideration of granting the lease,
the person whose name appears hereunder
shall guarantee the due and punctual
payment to the lessor of all rent and
other monies, together with the punctual
observance and compliance by the lessee
of the conditions and provisions of the
lease.
14. Operating Expenses The above rental is a gross rental
including the landlord's usual building
operating expenses, rates, insurance,
community power, maintenance, etc. The
tenant shall be responsible for costs
consumed on their own premises such as
power, phone charges, internal
maintenance, lights, etc.
15. Confidentiality The tenant agrees to keep the terms and
conditions of the lease totally
confidential as between the parties and
will not divulge any details to a third
party.
16. The Landlord agrees to carry out at its
cost minor work including cleaning
windows, stretching and cleaning carpet
where required, repairing lighting and
damaged walls.
17. Landlord's Fit Out Lease of the premises includes xxxxxx's
fixtures and fittings as follows.
All fixtures and fittings including:
Partitions
Carpet
Suspended Ceilings
Lighting
Air Conditioning
Plant and equipment above suspended
ceilings Kitchen cabinets
113
