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V

SENIOR TRANS resource library · Bilingual reading and examples

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Subject: V

Excerpt: English text from the archived bilingual edition · Chinese edition

Reference text and retained source material

V. For the whole duration of the lease, Party B shall conduct business and act in compliance with all applicable laws and regulatory requirements, and shall not carry on illegal operations or manufacture prohibited items within the leased Property. Breach by Party B of this provision shall entitle Party A to terminate this Contract with immediate effect, and all liabilities arising therefrom shall be solely borne by Party B. During the lease, Party A reserves the right to exercise management over other tenants of the building

VI. During the lease, Party A shall at all times have the right to supervise and manage Party B's activities in the leased Property. Party B shall keep the building clean and tidy, and shall ensure safe use of the leased Property. Party B shall not add/remove load to/from the beams or columns of the leased Property without authorization. Party B shall timely clear away snow on the roof in special seasons to prevent unnecessary accidents, failing which Party B shall be liable for any and all resulting damages

VII. Party B may not assign, mortgage, transfer, sell, offer for sale, or otherwise dispose of the leased Property. Any and all damages and liabilities resulting from such unauthorized disposal shall be borne by Party B

VIII. In case of any act of government (e.g. government planning, demolition, and redevelopment) or act of god or other Force Majeure event that prevents normal use of the leased Property by Party B, this Contract shall automatically be terminated. If this Contract is so terminated, Party A shall give prompt notice and return to Party B only the portion of rent prepaid but undue with respect to the remaining lease term. Party B shall not be entitled to any other compensation. If it is necessary to change the present status of the leased Property due to surrounding area planning, Party B shall not obstruct the same for any reason. Party A reserves the right to change the conditions of the building. During the lease, neither Party shall terminate this Contract without good cause, otherwise it shall constitute a default event of the terminating Party, and the default Party shall pay the non-default Party liquidated damages in an amount doubling the annual rent payable for the remaining lease

IX. After this Contract expires, if the leased Property has no change and Party B desires to renew the lease, then Party A may renew the lease

X. Special attention is drawn to the fact that the leased Property is located near a fuel station and a transformer substation. Therefore, Party B must have strict and robust fire/explosion protection measures and systems in place. The walls of the leased Property are made of foam insulation boards, which belong to flammable materials that require extra fire protection efforts. Any and all damages and liabilities resulting from improper fire/explosion protection shall be borne by Party B

XI. It is understood and agreed that any default event of Party B as mentioned above shall entitle Party A to stop water/electricity connection to the leased Property and, in severe cases, to vacate the leased Property at the expense of Party B; and that any loss of or damage to Party B's goods resulting from such vacation shall be solely borne by Party B

XII. During the lease, any loss incurred by Party B in connection with the leased Property resulting from causes other than Force Majeure shall be wholly borne by Party A and its relevant personnel

XIII. This Contract shall come into effect after signature by the Parties and receipt by Party A of the first rent payment from Party B. Both Parties agree to be fully bound by all the terms and conditions of this Contract. Any default shall give rise to liquidated damages in an amount doubling the annual rent payable hereunder. This Contract is executed in two originals of equivalent legal effect, of which each Party receives on original (totally 2 pages each). Matters not included herein shall first be settled through friendly consultations by the Parties. If no settlement can be reached through such consultations, either Party may submit the matter to a court of competent jurisdiction over the place where the leased Property is located

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