Lease Agreement

COMERCIAL LEASE AGREEMENT
BETWEEN
MALIPIN PORAIKALI
TRADING AS
MAPO TRADING
(THE LESSOR)
AND
FRANK SAMAI
TRADING AS
FREEDOM TRADERS
(THE LESSEE)
1
COMERCIAL LEASE AGREEMENT
THIS COMERCIAL LEASE AGREEMENT is made and executed on this___01ST______ day

of___JANUARY_____ 2023
BETWEEN:
MAPO TRADING herein called the LESSOR of Section 05, Allotment 05, Wapenmanda Enga Province,
P.O.BOX 260 MT HAGEN, WESTERN HIGHLANDS PROVINCE
AND
Freedom Traders of PO Box 208 Brian Bell Plaza NCD
RECITALS
In consideration of the covenant and agreements hereinafter set forth to be kept and performed by
parties hereto, and hire from the landlord and leases premises hereinafter described for the period, and
at the rental, subject, and upon the terms and conditions hereinafter set forth, as follows:
1. DEFINATION
In the Lease:
a) The LESSOR means and include the Lessor and its or the Administrator, Executor, Successors,
or permitted or beneficiaries.
b) The lessee means and include the Lessee or it’s of their administrator or executors or
successors or permitted assignees or Beneficiaries.
c) The lease means and includes the tear or obligation of the parties pertaining to the
agreement or agreements agreed upon stipulated under this agreement.
d) The COVENANT means and include the obligation set out in the agreements and or any
arrangement agreed upon by both parties for the purpose of convenience of this Agreement.
e) The BOND or SECURITY Fee means and include any monetary value for consideration of the
lease of the property.
2. DESCRIPTION OF THE PROPERTY
The property is only a Shop is suited on portion/section 05 allotment 05 Wapenamanda, Enga

Province. The Shop consist of a groceries retail.
3. LEASE/RENT
The lessee shall pay to the Lessor a rental payment of K2000.00 per calendar month in advance
for 2 years of lease period and subject to review after the lapse of lease.
4. TERM
The term of this lease has duration of Two years (2), which shall commence on the 01 st day of
January 2024
2
5. REVIEW
5.1. The Lease is subject to review after One Year of business operation
5.2. The Lessee must give sixty days written notice to the Lessor prior to the expiry of lease term
either to renew or to cease.
5.3. If the Business activity is not viable for or subject to any treat of business loss the lease is
subject to terminated upon a 60 days written notice.
6. BOND/ADVANCE DEPOSIT
7.1 The advance shall commence once the tenant has the full occupancy of the property.
7. ELECTRICITY AND WATER
The Leasor shall provide excess and full amenities for Water and Power prior to the settlement of
the Agreement.
8.1 The Leasee shall by notice inform the Leaseor of any cost incurred to maintain or supply
Water and Power for the Leasor to reimburse and/or provide alternatives to settle the cost.
8. MAINTANCE
8.1 Wear and tear of the property will be the responsibility of the Lessor.
8.2 Lease of property is based on as is basis.
8.3 Any new structure that is fitted and expanded by leasee should be made aware to the leasor
and will be amortized if agreed.
8.4 Will fully damage of any structure is at the cost of the Lessee.
9. SUB-LEASE / TRANSFER OF NEW MANAGEMENT
In the event that the Lessee wishes to sub lease or transfer management a notice must be served in
writing sixty days prior to the Lessor.
10. POSSESSION The Tenant or the Lessee shall be entitled to possession on the first day of the term
of this lease, and shall possession to Landlord.
12 WAIVER
The failure of either party to enforce any provisions of this Lease shall not be construed as a
waiver or limitation of that party’s right to subsequently enforce and compel strict compliance
with every provision of this Lease.
3
11. BINDING EFFECTS
The provision of this lease shall be binding upon and inure to the benefit of parties and their
respective legal representatives, successor and assignees.
IN WITNESS WHEREOF, the parties have executed his agreement as of the date first above
written.
SIGNED by the LEASSEE )

)
) ________________________
FARNK SAMAI
LESSOR
DATE:
SIGNED by the LEASSOR )
)
) ________________________
MALIPIN PORAKALI
LESSEE
DATE:
SIGNED )
In the presence of )
) ____________________________
WITNESS
NAME:
DATE:

Lease Agreement

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COMERCIAL LEASE AGREEMENT

THIS COMERCIAL LEASE AGREEMENT is made and executed on this_01ST____ day

Freedom Traders of PO Box 208 Brian Bell Plaza NCD

The property is only a Shop is suited on portion/section 05 allotment 05 Wapenamanda, Enga

7. ELECTRICITY AND WATER

9. SUB-LEASE / TRANSFER OF NEW MANAGEMENT

SIGNED by the LEASSEE )

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