REVISED DRAFT AGREEMENT - FOR MR.

SHAIKH’s REVIEW
15.5.2019

LEASE AGREEMENT

THIS LEASE AGREEMENT (“Agreement”) is made at Islamabad, on this [8th] day of

[May], 2019.

BETWEEN

MRS. ALBEENA BABAR, wife of Mr. Zaheeruddin Babar, holding CNIC No. 37405-
0429732-2, resident of House No. 203, Street No. 12, Chaklala Scheme-III, Rawalpindi,
attorney of Mr. Zaheeruddin Babar, son of Mr. Muhammad Din, (hereinafter called
referred to as the “Lessor”), which expression shall mean and include herhis legal heirs,
successors-in-interest and permitted assigns) of the FIRST PART.

AND

ARY COMMUNICATIONS LIMITED, a company incorporated in Pakistan, having

its principal office at D-120, S.I.T.E., Karachi, through its Senior Manager (Operation),
Mr. Malik Gulfraz Khan Ss/o Mr. Malik Muhammad Hussain, holding CNIC No. 37401-
9945931-1, resident of House No. 53-A2, Street No. 9, lLalazar Tulsa Road, Rawalpindi,
(hereinafter called referred to as the “Lessee”), which expression shall mean and include
his its legal heirs, successors-in-interest and permitted assigns) of the SECOND PART.

WHEREAS:

A. tThe Lessor is the attorney of Mr. Zaheeruddin Babar, the owner of Flat No. 32,
1st Floor, Al-Babar Centre, constructed over Plot No. 7, F-8 Markaz,
Islamabad, which is equipped with all necessary fittings and fixtures, (hereinafter
referred to as the "Demised Premises").;

B. The Lessor confirms that she, being the attorney of the owner of the Demised
Premises, is legally competent to lease the Demised Premises; and

C. Whereas tThe Lessor has agreed to give the Demised Premises on a three (3) years
lease to the Lessee let out and the Lessee has also agreed to take the dDemised
pPremises on lease for the said period . On rental basis, on the following terms and
conditions mentioned in this Agreement.as hereunder:-

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NOW THEREFORE THIS AGREEMENT IS WITNESSETH AS UNDER:

1. That the period of this the lease under this Agreement shall be has been fixed for
three (3) years commencing with effect from 1st November 2018 to and ending on
31st October 2021 (“Lease Period”).

2. That the monthly rent of for the said Demised pPremises has been fixed at shall be
Rs. 70,000/- (Rupees Sseventy Tthousand only) per month for first year (i.e. until
31st October 2019). and aAfter the expiry of each year, the rent payable under this
Agreement will shall stand automatically be increased by ten (10%) percent
(10%).

3. That the Lessee shall pay to the Lessor a sum of Rs. 210,000/- (Rupees two
hundred and ten thousand only) being the as a security depositmoney,. The said
security deposit shall which will be refundableed at the time of vacation of the
Demised Premises after deduction of the amount of un-paid bills and damages (if
any), subject to clearance of all the dues.

4. That the lLessor has already received advance rent, security depositmoney and
water charges from the Lessee through Habib Metropolitan Bank, Karachi (1)
Crossed Cheque No. 111970401 dated 09.10.2018 of Rs. 1,008,000/- (Rupees one
million and eight thousand only) (2) Cheque No. 111970402 dated 09.10.2018
of Rs. l,080,000/- (Rupees one million and eighty thousand only) and (3) Cheque
No. 114091941 dated 09.10.2018, of Rs. 75,000/- (Rupees seventy five thousand
only) has been adjusted in three (3) months security deposit, i.e. Rs. 210,000/-
(Rupees two hundred and ten thousand), nine (9) months’ rent from November
2018 to July 2019 i.e. Rs. 630,000/- (Rupees six hundred and thirty thousand only)
and nine (9) months water charges from November 2018 to July 2019, i.e. Rs.
54,000/- (Rupees fifty four thousand only) (Ttotal comes to Rs. 894,000/- (Rupees
eight hundred and ninety four thousand only)).

5. That Tthe Lessee shall be entitled to deduct withholding tax over any payment
made or to be made under this Agreement as per applicable laws of
Pakistan.Government law and The property tax in respect of the Demised Premises
shall be paid by the Lessor.

6. THAT That after the expiry of the Lease Periodthree (3) years, the Lessor and the
Lessee agree to enter into a fresh agreement on terms to be mutually agreed by
themshall be made between the parties by mutual consent. In case of breach, the

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 Lessee shall vacate the said premises and possession should be handed over to the
Lessor accordingly in same condition.

7. Either party to this Agreement may serve three (3) months’ written notice in case
the Demised Premises is being vacated or is required to be vacated prior to the
expiry of the Lease Period. If the Lessor issues such notice for early termination
of the lease and such notice is for any reason other than Lessee’s default, breach
of this Agreement or improper use of the Demised Premises, the Lessor shall return
to the Lessee the amounts referred to in Clause 4 above for any remaining Lease
Period after the effective date of termination of this Agreement plus the security
deposit referred to in Clause 3 after deduction of amounts on account of unpaid
bills and damages (if any). In case of breach by the Lessor of any term of this
Agreement, the Lessee shall be entitled to vacate the Demised Premises
immediately in its then current condition and shall also be entitled to the amounts
referred to in Clause 4 above for any remaining Lease Period after the effective
date of termination of this Agreement plus the security deposit referred to in
Clause 3 after deduction of amounts on account of unpaid bills and damages (if
any). In case of breach by the Lessee of any term of this Agreement, the Lessor
shall have the right to put an end to this Agreement and ask the Lessee to vacate
the Demised Premises and hand over its peaceful possession to the Lessor within
fifteen (15) days. Commented [SR - ARY1]: Please confirm this clause is in
order.

THE LESSOR HEREBY COVENANTS WITH THE LESSEE AS FOLLOWS:

1. THAT To let the Lessee shall to enjoy quiet and peaceful possession of the
Demised pPremises leased without disturbances by the Lessor or any of her
assignee.

2. THAT the Lessor shall To pay all taxes (including property taxes) and ground
rents and other charges existing or to be assessed against the leased Demised
pPremises, except future water, telephone, electricity and gas consumption
charges, which shall be paid by the lLessee.

3. That if the lessor wants to get vacated the said premises, then the lessor will serve
three month's notice to the lessee.

4.3. THAT if To allow the lLessee wants to install air conditioners, security equipment,
telephone connection, internet connection and other fixtures and fittings in the said
Demised pPremises and to remove the same at any timeat his own cost and

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 expenses, then the lessor will have no objection. The telephone bills will be paid
by the Lessee.

THE LESSEE HEREBY COVENANTS WITH THE LESSOR AS FOLLOWS:

1. That aAfter the expiry of first three (3) months, the lessee shall to pay the rent on
quarterly basis in advance on the 5th day of every new quarterly period to the
lLessor regularly. In case of non-payment of the rent upto 15th day of every new
quarterly periodof current month due period, then the lLessor will shall have full
the right to disconnect for disconnection of the water and electricity connections,
in this regard, the lessee will have no objection.

2. THAT dDuring the Lease pPeriod of Lease, the Lessee shall to pay the charges of
electricity, sui gas, and telephone connections in relation to of the said Demised
pPremises. The lLessee will be responsible to show the receipt of paid bills in
relation to such of electricity, sui gas and telephone connections to the lLessor
regularly. That tThe Lessee will also be responsible to pay the monthly water
charges of Rs. 6,000/- per month.

3. THAT nNot to demolish or damage the Demised pPremises or remove any

installation during the said Lease pPeriod of lease, nor the Lessee could make any
structural alterations or additions to the Demised pPremises.

4. THAT tTo permits the Lessor or his/her/their/its agents to inspect the Demised
pPremises at a mutually convenient any reasonable time of the day on previous
upon receipt of reasonable notice.

5. THAT the lessee will To keep and maintain the Demised pPremises in good order
and condition, to look after the Demised pPremises with responsible care and
caution and be responsible for any damage caused by the Lessee or his/her/their/its
servants, except for normal that due to wear and tear.

6. THAT the lessee will To carry out all minor repairs to the Demised pPremises, its
fixtures, fittings, and electrical installations.

7. THAT nNot to assign or sub-let the Demised pPremises. The lessee is not allowed
to give the said premises or any part thereof to anybody else, against any goodwill/
or pagri.

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8. That the lessee will nNot to conduct any sort of activities in the said Demised
pPremises which are harmful or dangerous to the peace of the Demised Premises
or its locality building or objectionable to any Government Department and
Authority and which are not in compliance with applicable rules, regulations and
laws of Pakistan. or dangerous to the peace to the locality and iIf the lLessee shall
exercise any such unlawful act, then the lLessor shall will not be responsible for
the samethat.

9. That the Lessee agrees that the Demised pPremises haves been rented out on "as
is where is basis" and so . Tthe lLessee will shall not demand any construction or
alteration therein.

10. That the Lessee agrees that, if the lessee it fails to pay the rent by the relevant due
date under this Agreement, then the lLessor will shall have the option to
discontinue disconnect the utilityies services provided to the said Demised
pPremises.

11. That whenever the said premises is vacated by the lessee, the lessee is bound tTo
hand over vacant physical possession of the said Demised pPremises to the lLessor
at any relevant time.

12. That iIn case the Lessor wants to dispose off /or sell the said Demised pPremises
to any third party during the Lease Period, the Lessee will shall have no objection
to such disposal or sale by the Lessor, provided that the Lessor shall ensure that
the new lessor shall this deal with any party as selected by the Lessor and that the
Lessee will have no objection to execute a fresh lease agreement with the Lessee
new Lessor on the same terms and conditions as this Agreement for the remaining
Lease pPeriod of the lease.

That in case of the above mentioned clauses are violated by the lessee, the lessor shall
have the full right to put an end to this agreement and ask the lessee to vacate the premises
and in this case the lessee will be responsible to hand over its peaceful possession to the
lessor within fifteen days.

IN WITNESS WHEREOF, both the parties above named have set and subscribed their
respective hands at [Islamabad], to this deed on the day, month and year first mentioned
above written, in the presence of the witnesses.

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LESSOR: ________________ LESSEE: ________________
Mrs. Albeena Babar ARY Communications Limited
CNIC No. 37405-0429732-2 through Malik Mr. Gulfraz Khan
(Attorney) CNIC No. 37401-9945931-1

WITNESSES:

1. ________________________ 1. __________________________
Name: Name:
CNIC No: CNIC No:

2. ________________________ 2. __________________________
Name: Name:
CNIC No: CNIC No: