Lease Agreement for Space in Chiang Mai Airport
Agreement No. Chor.Mor. 1-28/2543
This agreement is made at the Airports Authority of Thailand on 19 March 2001,
between the Airports Authority of Thailand, represented by Flight Lieutenant
Usar Borisuth, Deputy Managing Director, Acting Managing Director of the
Airports Authority of Thailand, hereinafter called the "Lessor" of one part, and
King Power Tax Free Co., Ltd., registered as a juristic person Company Limited
under the Civil and Commercial Code, with the head office at 26th-27th Floors,
Siam Tower, No. 989, Rama I Road, Pathum Wan Sub-district, Pathum Wan District,
Bangkok Metropolis, represented by Mr. Viratana Suntaranond, the person
empowered to enter juristic act binding King Power Tax Free Co., Ltd. according
to the Certificate No. Phor.Hor. 0000348 dated 8 January 2001, issued by the
Office of Partnership/Company Registration, Bangkok Metropolis, hereinafter
called the "Lessee" of the other part.
Whereas the Lessor agrees to lease out and the Lessee agrees to lease the
property of the Lessor for use as the business premises for selling merchandise
and souvenirs.
Therefore, both parties agree as follows :
The Lessor agrees to lease out and the Lessee agrees to lease the property
according to the "Terms and Conditions of Lease" and the following Appendixes
which shall be deemed part of this agreement.
Appendix A Details of the leased property, lease
period, rents, fees and charges, chart
showing location of the leased premises
Appendix B Performance Guarantee
Appendix C Documents showing juristic person
registration of the Lessee, and the person
empowered to sign as the Lessee
Appendix D Others (if any)
This agreement is made in duplicate. Both parties, having read and understood it
entirely, hereunder sign their names and affix seal (if any) in the presence of
witnesses and each retaining one copy.
The Lessor The Lessee
---------- ----------
- signed - - signed -
(Flight Lieutenant Usar Borisuth) (Mr. Viratana Suntaranond)
Witness Witness
------- -------
- signed - - signed -
(Mr. Krit Phakhakit) (Miss Sarinthorn Jongchaidetwong)
Terms and Conditions of Lease
Chapter 1 General Terms and Conditions
Chapter 2 Special Terms and Conditions
--------------------
Chapter 1 General Terms and Conditions
1.1 Scope of Lease
The Lessee agrees to lease the property of the Lessor, hereinafter
called the "leased premises" according to the details prescribed in
Appendix A.
1.2 Lease Period
The Lessor agrees to permit the Lessee to make use of the leased
premises under this agreement for the period prescribed in Appendix A.
1.3 Remuneration and Method of Payment
1.3.1 The Lessee agrees to pay remuneration to the Lessor as follows
:
(a) Fee for entering into the agreement, Baht 5,000.00
(Five Thousand Baht), not including the value added
tax;
(b) Rents and charges as prescribed in Appendix A
1.3.2 Payment of the fee for entering into the agreement under
Clause 1.3.1(a) shall be made to the Lessor on the signing
date of this agreement.
1.3.3 Payment of the rents and charges as prescribed in Appendix A
shall be made, on monthly basis, to the Lessor in advance by
the 5th of every month.
1.3.4 The Lessee agrees to be responsible for all expenses such as
electricity, telephone, water supply charges and other
expenses incurred from the lease under this agreement, and
shall make payment to the Lessor within the due date indicated
in the invoices.
1.3.5 The Lessee agrees to be responsible for all taxes, duties and
fees incurred from the lease under this agreement such as the
value added tax, payable under the existing and future
provisions of laws, on behalf of the Lessor.
The rate of monthly building and land taxes indicated in
Appendix A is based on the average rents the Lessee has to pay
in each year. If it appears that the concerned government
agency has assessed and collected higher building and land
taxes, the Lessee consents to pay the increased amount to the
Lessor within 30 (thirty) days from the date of receipt of the
Lessor's notice.
1.3.6 All payment under this agreement shall be made at Finance
Division, Finance Department, of the Lessor. After the Lessee
has made payment to the Lessor, a receipt shall be issued to
the Lessee as evidence. The receipt shall have the signatures
of the Director, Finance Division, Finance Department, of the
Lessor or the designated person, jointly with the cashier of
Finance Division, Finance Department, or the designated person
who must be a financial staff of the Lessor.
1.3.7 If the Lessee is in default of payment of the rents, building
and land taxes or other tax or other expenses payable to the
Lessor under this agreement, the Lessee consents to pay
penalty to the Lessor at a rate of 1.5 percent (one point
five) per month of the outstanding amount for the whole period
of default. A fraction of month shall be counted as one month.
The Lessee agrees that the first paragraph is a separate part
and without prejudice to the right of the Lessor to terminate
this agreement and claim for damages.
1.4 Duties and Responsibilities of the Lessee
1.4.1 The Lessee shall not make use of the leased premises for any
business other than prescribed herein, unless a written
permission has been obtained from the Lessor first.
1.4.2 The Lessee shall not sub-lease the leased premises, either in
whole or in part, or transfer the leasehold to a third party,
or allow a third party to make use of the leased premises,
either in whole or in part, unless a written permission has
been obtained from the Lessor first.
1.4.3 The Lessee shall not make any alteration or addition to the
leased premises, unless a written permission has been obtained
from the Lessor first.
If any alteration, addition or repair, whether minor or major
repair, has been in the leased premises, under any
circumstances, such property shall become the property of the
Lessor, from the date on which such action has been taken, and
the Lessee shall claim for compensation or expenses from the
Lessor.
1.4.4 The Lessee shall maintain the leased premises to be in proper
condition and clean at all times. If the leased premises
appear to be dirty, unbecoming or deteriorated, the Lessee
shall arrange for cleaning or repair at the Lessee's own
expense.
1.4.5 The Lessee shall arrange to have fire extinguishers, as
endorsed by the Lessor, in the leased premises at the Lessee's
own expense.
1.4.6 The Lessee shall comply, and ensure that the Lessee's
personnel or the persons whom the Lessee has appointed or
assigned or hired or ordered to perform the works of the
Lessee, shall comply with the existing instructions,
regulations and directives of the Lessor, and those to be
issued in the future, and be cautious not allowing any person
to take any illegal action in the leased premises, or use it
as a storage or hiding place of any illegal item. In this
case, if any damage occurred, the Lessee shall be liable to
the Lessor for the consequences due to the action of the said
persons as if having been committed by the Lessee.
1.4.7 Throughout the lease period, the Lessee shall facilitate and
permit the Lessor or the Lessor's staff to inspect the leased
premises from time to time, during reasonable hours.
1.5 Rights on Adjustment of Rents and Charges
During the lease period, the Lessor reserves the right to adjust the
rents and charges as deemed appropriate, which shall be notified to the
Lessee in advance; thereby the Lessee consents to pay the newly
adjusted rents and charges.
1.6 Termination of Agreement
1.6.1 During the period of this agreement, if the Lessor wishes to
terminate this agreement prior to the expiration date
prescribed in Appendix A, the Lessor is entitled to do so;
provided that a written notice must be given to the Lessee at
least thirty (30) days in advance. Thereby, the Lessee agrees
not to xxx or claim for any damages from the Lessor.
If the Lessee wishes to terminate this agreement prior to the
expiration date prescribed in Appendix A, the Lessee is
entitled to do so; provided that a written notice must be
given to the Lessor at least ninety (90) days in advance and
that the Lessee has no outstanding payment to the Lessor.
1.6.2 Each and every clause of this agreement is deemed essential.
If it appears that the Lessee acts or omits to act in
violation of or non-compliance with any clause herein, or
becomes bankrupt, the Lessor is entitled to terminate this
agreement forthwith, claim for damages and forfeit the
performance guarantee.
1.7 Return of the Leased Premises
1.7.1 Upon expiration of the lease or the date of termination of
this agreement by the Lessor or the Lessee according to Clause
1.6, as the case may be, this agreement shall end forthwith.
Thereby, the Lessee shall arrange for demolition or removal of
the Lessee's property from the leased premises and return the
same to the Lessor within seven (7) days from the expiration
date or termination date of the agreement, as the case may be.
1.7.2 In failing to comply with Clause 1.7.1, the Lessee consents
the Lessor to immediately repossess the leased premises and
remove the Lessee's property therefrom. Furthermore, the
Lessee consents to reimburse the expenses the Lessor has to
pay in doing so, and should any damage occurred the Lessee
shall not claim for any compensation.
1.7.3 Besides consenting the Lessor to repossess the leased premises
according to Clause 1.7.2, the Lessee also consents to pay a
daily fine to the Lessor at the rate prescribed in Appendix A,
from the supposed date of return of the leased premises to the
date on which the Lessee and attendants vacate the leased
premises and return the same or the Lessor has carried out
according to Clause 1.7.2, as the case may be.
1.8 Performance Guarantee
Unless otherwise specified in Chapter 2 of the agreement, in entering
into this agreement, the Lessee shall deposit cash or submit a Letter
of Guarantee issued by a local bank for the amount equivalent to three
(3) times of the rent plus the relevant service fees and monthly
building and land taxes, to the Lessor as performance guarantee.
The above performance guarantee shall be returned after the Lessee has
been relieved from all obligations under this agreement.
In case of an amendment of this agreement, resulting in an increase of
the rent, the Lessee shall submit the performance guarantee to cover
the increased amount accordingly.
1.9 Notice
All notices under this agreement shall be made in writing and deemed
legally forwarded if having been forwarded by one of the followings :
- hand delivery to the concerned person of either party; or
- sent by registered mail to the addresses indicated by parties
to this agreement in Chapter 2 herein.
1.10 Dispute
In case any dispute has arisen in connection with this agreement, both
parties agree that it shall be presented to the court in Bangkok.
Appendix B
Performance Guarantee
In entering into this agreement, the Lessee has submitted the Letter of
Guarantee No. L 40-1434, dated 13 June 1997, of Bangkok Metropolitan Bank Public
Company Limited, and the Letter of Guarantee Extension, No. Nor.Sor.
3.2/500/2543, dated 27 December 2000, of Bangkok Metropolitan Bank Public
Company Limited; and Letter of Guarantee No. 029-01-00018-9/30, dated 20
February 2001, of the Siam Commercial Bank Public Company Limited, Lak Si
Branch, Baht 117,116.00 (One Hundred Seventeen Thousand One Hundred Sixteen
Baht) to the Lessor as guarantee for compliance with this agreement.
The performance guarantee submitted by the Lessee in the first paragraph shall
be returned after the Lessee has been relieved from all obligations under this
agreement.
BANGKOK METROPOLITAN BANK PUBLIC COMPANY LIMITED
L/G No. L 40-1434
Letter of Guarantee
13 June 1997
We, Bangkok Metropolitan Bank Public Company Limited, with offices at Xx. 0,
Xxxxxxx Xxxx 0 Xxxx, Xxxxxxxxx Sub-district, Pom Prap Sattru Phai District,
Bangkok Metropolis, hereby issue this Letter of Guarantee to the Airports
Authority of Thailand, as follows :
1. Whereas J.M.T. Group Co., Ltd. has entered into the Lease Agreement for
Space in Chiang Mai Airport, No. Chor.Mor. 1-21/2540, and a Letter of
Guarantee is required as performance guarantee to the Airports
Authority of Thailand, for an amount of Baht 90,787.50 (Ninety Thousand
Seven Hundred Eighty-Seven Baht Fifty Satang).
We consent to bind ourselves as the guarantor of J.M.T. Group Co., Ltd.
to the Airport Authority of Thailand for an amount not exceeding Baht
90, 787.50 (Ninety Thousand Seven Hundred Eighty-Seven Baht Fifty
Satang). That is, if J.M.T. Group Co., Ltd. fails to comply with the
agreement entered with the Airports Authority of Thailand, or is in
breach of any clause of the said agreement, thereby the Airports
Authority of Thailand is entitled to forfeit the performance guarantee
or demand penalty or fines and/or damages from J.M.T. Group Co., Ltd.,
we shall promptly make the payment on behalf of and without requesting
J.M.T. Group Co., Ltd. to make such payment first.
2. We acknowledge and consent in case the Airports Authority of Thailand
has given an extension or leniency for compliance with the agreement to
J.M.T. Group Co., Ltd., provided that the Airports Authority of
Thailand shall notify us without delay.
3. We shall not revoke the guarantee throughout the period that J.M.T.
Group Co., Ltd. is liable under the conditions of the agreement (7 May
1997 - 30 November 2000).
As evidence, we, Bangkok Metropolitan Bank Public Company Limited, by the
undersigned who are empowered to enter juristic act binding the bank, hereunder
sign our names and affixed the seal.
For Bangkok Metropolitan Bank Public Company Limited
- signed - Guarantor - signed - Guarantor
(Xx. Xxxxxxx Sirijindaphon) (Mr. Aphiwat Kampaengseri)
- signed - Witness - signed - Witness
(Miss Suwaree Sinthuputhikul) (Xx. Xxxxxx Xxxxxxxxxx)
BANGKOK METROPOLITAN BANK PUBLIC COMPANY LIMITED
No. Nor.Sor. 3.2/467/2542
23 September 1999
Subject Change of Name in Letter of Guarantee
To Managing Director, Airports Authority of Thailand
Reference Letter of Guarantee No. L 40-1434 dated 13 June 1997 of
Bangkok Metropolitan Bank Public Company Limited
According to the referenced Letter of Guarantee, Bangkok Metropolitan Bank
Public Company Limited has consented to bind ourselves, as the guarantor of
J.M.T. Group Co., Ltd., for compliance with the Agreement No. Chor.Mor.
1-21/2540, entered between the Airports Authority of Thailand (AAT) and J.M.T.
Group Co., Ltd., for the period 7 May 1997 - 30 November 2000. On 30 September
1997, J.M.T. Group Co., Ltd. has changed its name to "King Power Tax Free Co.,
Ltd." which AAT has been informed.
We would like to inform AAT that, by means of this letter, the referenced Letter
of Guarantee is still valid, and the name J.M.T. Group Co., Ltd. therein has
been changed to King Power Tax Free Co., Ltd. effective 30 September 1997, and
that the rest of the contents remain the same.
Please be informed accordingly.
Yours truly,
For Bangkok Metropolitan Bank Public Company Limited
- signed -
(Mr. Phasakorn Thiarasavetkul)
Manager, Guarantee Section
Khun Prapat
Guarantee Section
Loan and Collateral Division
Tel. 328, 329
BANGKOK METROPOLITAN BANK PUBLIC COMPANY LIMITED
No. Nor.Sor. 3.2/500/2543
27 December 2000
Subject Extension of Validity of Letter of Guarantee
To Managing Director, Airports Authority of Thailand
Reference Letter of Guarantee No. L 40-1434 dated 13 June 1997 of
Bangkok Metropolitan Bank Public Company Limited, Head Office,
for Baht 90,787.50
According to the referenced Letter of Guarantee, Bangkok Metropolitan Bank
Public Company Limited is the guarantor of King Power Tax Free Co., Ltd. to the
Airports Authority of Thailand, for compliance with the Agreement No. Chor.Mor.
1-21/2540, for the period 7 May 1997 - 30 November 2000. Now, the said agreement
has expired, and the Airports Authority of Thailand has extended the validity of
the said agreement to King Power Tax Free Co., Ltd. from 1 June 2000 to 31 May
2002, according to the Lease Agreement for Space in Passenger Terminal of Chiang
Mai Airport No. Chor.Mor. 1-28/2543.
Therefore, by means of this letter, we consent to bind ourselves, as the
guarantor of King Power Tax Free Co., Ltd. for the period 1 June 2000 to 31 May
2002. The conditions of the guarantee shall be the same as in the referenced
Letter of Guarantee, whereby it shall be deemed the said Letter of Guarantee is
valid throughout the validity of the Agreement No. Chor.Mor. 1-28/2543.
Please be informed accordingly.
Yours truly,
For Bangkok Metropolitan Bank Public Company Limited
- signed -
(Mr. Phasakorn Thiarasavetkul)
Manager, Guarantee Section
Guarantee Section
Loan and Collateral Division
Tel. 2259999 ext. 328, 305
THE SIAM COMMERCIAL BANK PUBLIC COMPANY LIMITED
Letter of Guarantee
029-60-00311-6
No. 029-01-00018-9/30 20 February 2001
We, the Siam Commercial Bank Public Company Limited, Lak Si Branch, with offices
at 00/00, Xxxxxx Xxxxxxxx Xxxx, Xxxxx Bang Khen Sub-district, Lak Si District,
Bangkok Metropolis, hereby issue this Letter of Guarantee to the Airports
Authority of Thailand, as follows :
1. Whereas King Power Tax Free Co., Ltd. has entered into the Lease
Agreement for Space in Chiang Mai Airport No. Chor.Mor. 1-28/2543, and
performance guarantee is required by the Airports Authority of
Thailand, for an amount of Baht 26,328.50 (Twenty-Six Thousand Three
Hundred Twenty-Eight Baht Fifty Satang).
2. We consent to bind ourselves as the guarantor of King Power Tax Free
Co., Ltd. to the Airports Authority of Thailand for an amount not
exceeding Baht 26,328.50 (Twenty-Six Thousand Three Hundred
Twenty-Eight Baht Fifty Satang). That is, if King Power Tax Free Co.,
Ltd. fails to comply with the agreement entered with the Airports
Authority of Thailand, or is in breach of any clause of the said
agreement, thereby the Airports Authority of Thailand is entitled to
forfeit the performance guarantee or demand penalty or fines and/or
damages from King Power Tax Free Co., Ltd., we shall promptly make the
payment on behalf of and without requesting King Power Tax Free Co.,
Ltd. to make such payment first.
3. We acknowledge and consent in case the Airports Authority of Thailand
has given an extension or leniency for compliance with the agreement to
King Power Tax Free Co., Ltd., provided that the Airports Authority of
Thailand shall notify us without delay. This Letter of Guarantee is
valid from 1 June 2000 to 31 May 2002.
As evidence, we, the Siam Commercial Bank Public Company Limited, Lak Si Branch,
by the undersigned who are empowered to enter juristic act binding the bank,
hereunder sign our names and affix the seal.
- signed - - signed - Guarantor
(Mr. Suchart Wongwiphusana) (Mrs. Sukree Dankul)
- signed -
Witness
(Mr. Phakkaphong Xxxxxxxx)
- signed - Witness
(Mr. Durin Kanchanasawat)
Appendix A
Details of Rents and Location of the Leased Premises
Agreement No. Chor.Mor. 1-28/2543 dated 19 March 2001
(Total 3 Sheets)
Sheet No. 1
-------------------------- ------ --------- ---------- ----------- ---------- -------- ------------------------
Area Rents Rent Service Fee Building/ Fine/ Lease Period
Leased Premises Sqm. Baht/Sqm. Baht/Month Baht/Month Land Tax Penalty ------------------------
Per month Baht/Month Baht/Day From To
-------------------------- ------ --------- ---------- ----------- ---------- -------- ----------- -----------
Area in Xxxxxxxxx Xxxxxxxx
Xxxxxx Xxx Xxxxxxx
- Xx. 0 A 113 16.00 450.00 7,200.00 1,080.00 900.00 612.00 1 June 2000 31 May 2002
- No. 1 A 218 22.25 450.00 10,012.50 1,501.88 1,251.56 851.06 1 June 2000 31 May 2002
- No. 1 B 202 15.00 450.00 6,750.00 1,012.50 843.75 573.75 1 June 2000 31 May 2002
- No. 1 C 202 14.00 450.00 6,300.00 945.00 787.50 535.50 1 June 2000 31 May 2002
-------------------------- ------ --------- ---------- ----------- ---------- -------- ----------- -----------
The Lessor The Lessee
- signed - - signed -
(Flight Lieutenant Usar Borisuth) (Mr. Viratana Suntaranond)
Witness Witness
- signed - - signed -
(Mr. Krit Phakhakit) (Miss Sarinthorn Jongchaidetwong)