LEASE AGREEMENT

In Respect of

House of Balikpapan Baru

Jl. Boulevard Raya Blok G1/4
Between

Theresia MS
And

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Represented By

Tan Sri Dato Amin Shah

Period
February 15, 2008 until February 14, 2010

LEASE AGREEMENT
This Lease Agreement (hereinafter is referred to as Agreement) is made in
Balikpapan on February 14, 2008 by and between:
Theresia MS.
Jl. Martadinata No. 09 RT 025
Kel. Mekar Sari, Kec. Balikpapan Tengah
Balikpapan 76122
East Borneo, Indonesia
KTP No.
175104.690849.0001
(hereinafter referred to as that LESSOR)
and
Mr. Tan Sri DatoAmin Shah
Sharjah Airport International Free Zone
Sharjah, United Arabs Emirates.
Passport No.
A10733280
QQ. Mr. Wasisto
Balikpapan Baru Blok W3/11
Balikpapan 76114
East Borneo, Indonesia
(hereinafter referred to as that LESSEE);
WHEREAS, LESSOR does hereby declare to have let and surrendered in
lease to LESSEE, and LESSEEE does hereby declare to have rented and
accepted in lease from LESSOR, a unit of House located in East Borneo,
locally known as:

House of Balikpapan Baru

Address:
Jl. Boulevard Raya Blok G1/4
Balikpapan 76114
East Borneo
(hereinafter referred to as that Premises);
Facilities Included :
1 (one) telephone lines numbers: (to be informed)
Fully Furnished
Inventory as per the Inventory List in Schedule 1 attached
This Lease Agreement has been effected and accepted on the following
terms and conditions:
Article 1 DURATION
1.

The Lease on the Premises is effective as of February 15, 2008 and

shall continue for a period of 2 (two) year and shall thus expire on
February 14, 2010.

2.

This Agreement may be extended on the same terms and conditions

provided that LESSEE notifies LESSOR of its intention in writing at
least thirty (30) days before the expiration of this Lease Agreement.
The Lessee will be granted the first option to extend the Agreement at
fair marked rates but not less than the current rent and to be mutually
agreed between the LESSEE and the LESSOR.

3.

On the expiry date of this Lease Agreement, LESSEE is obligated to

return the Premises and the entire Inventory in good, working, and
clean condition with normal wear and tear accepted.

4.

This Contract shall not be terminated by the death or liquidation of

one of the parties here to and or by the encumbrance of the leased unit
before the expiration of the Lease.
Article 2 RENTAL RATE

1.
2.

The Rental Rate for the Premises is USD 33,000.00 (thirty three
thousands US Dollars) for the period of 2 (two) years.
Monthly payments of electricity, water, telephones (LESSOR
provided the installation outlet only) during the term of this Lease
Agreement shall be for the account of and be paid for by LESSEE.
Article 3 PAYMENT

The Rent will be paid as follows:

Total Payment for 2 years
Must be paid before February 14, 2008.

= USD 33,000.00

Article 4 GUARANTEE
1.

LESSOR guarantees LESSEE that he is the owner of the Premises and

that as long as this Lease Agreement remains in force and the
Premises are occupied by LESSEE, LESSEE shall not be troubled by
any party claiming to have prior rights thereto, and therefore LESSEE
is herewith relieved by LESSOR of all claims by other parties
regarding such matters.

2.

LESSOR also guarantees LESSEE that as long as the Lease

Agreement remains in force; LESSEE can occupy the Premises
legally.

3.

This Lease Agreement shall not be made void by LESSORs death or

the death of the owner of the Premises and/or by a charge of
ownership in any form whatsoever of the property to another party
during the term of this Lease Agreement.

4.

LESSEE guarantees to use the Premises solely for residential and own
office purposes and obey a general estate management rule.

1.

Article 5 MAINTENANCE
LESSEE is responsible to keep the Premises including the property
and/or appurtenances in accordance to the Inventory list as attached in
good, clean, working condition. (reasonable wear and tear accepted).

2.

LESSOR is responsible and shall bear any expenses for repair

resulting from the structural failure of the PREMISES, including but
not limited to repair of roofing, main walls of the Premises, water leak
etc, expect in the case of a willful damage by LESSEE, his agent, his
employee or any person for whom LESSEE is responsible.

3.

Any repair for Air Conditioning and Electric Stove will be paid by
LESSEE.

4.

During the term of this Lease Agreement, LESSOR shall not remove
or take out from the Premises any furniture, fixtures or fittings owned
by LESSEE without prior approval from LESSEE. Conversely,
LESSEE shall not remove or take out from the Premises any furniture,
fixtures or fittings owned by LESSSOR without prior approval from
LESSOR.

5.

Any furniture, fixtures or fittings installed by LESSEE to improve

living conditions on the Premises as deemed suitable by LESSEE,
expiration of this Lease Agreement. LESSEE will have to ask for
written approval from Lessor for this purpose.
Article 6 REGULATION FROM ESTATE MANAGEMENT

The Estate Management has a rule in writing for a peaceful purpose to every
occupant and this rule can be taken from the Estate Management and also
The Estate Management has the right to take action on the Lessee in
enforcing the terms and conditions of this contract, including to evict the
Lessee. The decision or judgment of the Estate Management is final and not
subject to any dispute argument or appeal.
Article 7 SUBLEASE

The list is not allowed to be subleased to any third party.

Article 8 TAXATION
LESSOR accepts sole and full responsibility for the payment of a public
nature Pajak Bumi and Bangunan/PBB which may be assessed against,
imposed upon or payable in respect to the Premises (or the plot of land on
which the premises are built) during the term of this Lease Agreement.
Article 9 FORCE MAJEURE
1.

In the event of loss of or damage to the Premises due to natural

disasters, LESSOR shall forth with rebuild and reinstates the Premises
as its own cost and expense.

2.

In the event that the Premises are not rebuilt or repaired following loss
or damage by fire or other natural disasters within sixty (60) days,
LESSEE shall have the right to terminate this Lease Agreement and
LESSOR shall promptly refund to LESSEE upon request any prepaid
rent for the remaining unused portion of the lease period.
Article 10 DISPUTE RESOLUTION

1.

Any unresolved issues or questions of interpretation arising in

connection with this Lease Agreement shall be settled by mutual
Agreement of the Parties hereto. If this is not possible, however, both
parties shall agree to settle the case in the Court of Balikpapan.

2.

The laws of the Republic of Indonesia shall govern this Lease

Agreement.
Article 11 ENTIRE LEASE AGREEMENT

1.

This Lease Agreement to constitute the entire agreement between the

parties here to and shall supersede and replace any verbal or written
communication heretofore made between the parties relating to the
subject matter hereof.

2.

Any amendments to this Agreement shall be made in writing and

signed by the parties hereto.

Article 12 INSURANCE
1.

Insurance coverage against loss and damage by fire and extended risk
on the Premises and the contents owned by LESSOR shall be effected
and Premiums paid for by LESSOR.

2.

Each party shall indemnify and hold the other harmless from any
consequences of its failure to obtain insurance coverage as provided
above.

IN WITNESS WHERE OF the parties hereto have executed this Agreement

by affixing their signature hereto as of the date first mentioned above.
Balikpapan, February 14, 2008

THE LESSOR

THE LESSEE
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Represented by :

Theresia MS
Lessor

Tan Sri Dato Amin Shah

Lessee