MEMORANDUM OF AGREEMENT OF LEASE

MADE AND ENTERED INTO BY AND BETWEEN

NAME_________________________________________

ID.NO_________________________________________

D.O.B_________________________________________

(Hereinafter referred to as the “LESSOR”/ “LANDLORD”)

AND

NAME______________________________________

ID.NO_______________________________________

D.O.B_______________________________________

(Hereinafter referred to as “THE TENANT”/ “LESSEE”)

WHEREAS

I. The landlord is the owner of the space situated at Zezani Shopping Centre being ZEZANI
BOTTLE STORE (hereinafter referred to as the leased premises).

II. The landlord has lets the lessee ZEZANI BOTTLE STORE (Hereinafter referred to as the
leased PROPERTY)

Now therefore these present witnesses that the parties hereto have entered into and concluded an
agreement of lease on terms and conditions as hereinafter provided:-

1. PERIOD

MEMORANDUM OF AGREEMENT OF LEASE

 The lease shall commence at an agreed date, which is reckoned to be the
……………………2024 and shall continue thereafter to Run for the term or period of ….
year that is on and up to ………………………202…………………...

In the event that the lessee has not given notice 3 months before termination, the lease
agreement/contract will continue indefinitely as long as both parties agree.

1.1 NOTICE TO CANCEL

a) In the event of a lessor deciding to sell, build, modernize and/or refurbish the premises or
to make extensive alterations thereto, then the lessor shall have the right, on giving 90
days written notice to the lessee, to cancel the lease without compensation.

b) Should the lessor require premises for his own use or for an allied company, then the
lessor shall have the right to give 90 days’ written notice to cancel lease without
compensation and require the lessee to vacate the premises.

c) Should the lessee wish to vacate the leased premises, then the lessee shall have the right
to vacate on giving 90 days written notice to cancel the lease without compensation.

2.0 RENTAL

i. The rent for the use and occupation of the premises shall be the sum of
R………………… per Month payable monthly in advance without deduction on the first
day of each month the latest being the 7th day and every month.

ii. Should the lessee pay the rent due for any particular month after the 7th day of that
month, then a penalty rent charge shall apply. The penalty rent charge shall be 10℅ of the
monthly rent. Late fees or partial payments will also incur a 10% charge after the 7th day
of the month, stipulated grace period.

2.1 The tenant shall not withhold any rent immediately prior to the termination of the
lease because the tenant believes that there may be unutilized portion remaining of the
good tenancy deposit as at the termination date of the date lease or because the landlord
has not made any developments.

MEMORANDUM OF AGREEMENT OF LEASE

3.0 NON PAYMENT OF RENTALS

The lessee acknowledges that the landlord reserves the right to evict the tenant in the
event that the rent is not paid within the herein stipulated time.

4.0 RENT DETERMINATION

4.1 The open market rent shall be the best that would reasonably be expected for the
applicable, assuming the following circumstances:

4.1.1 There is a willing landlord and a willing tenant;

4.1.2 The Landlord and the tenant have observed all their obligations in terms of this
agreement;

4.1.4 There shall be a lease term of ………………………………………… year on the same

terms and conditions save as to rent as are contained in this agreement, except in the
event that the rentals are paid in forex.

4.3 The assessment of such open market rent shall take cognisance of the rents charged for
any tenant at his expense.

5.0 RENEWAL OF LEASE

Two months prior to the expiry of this lease and provided the Tenant is not in breach of any of
the conditions of the lease, the Tenant shall have the right to renew the lease for a further period
of ………………………………………. months at a new agreed market rental.

6.0 VACATION OF PREMISES

Where tenant is required to return the premises to the owner by operation of this lease agreement
or for any other reason the tenant shall evacuate by 12:00hrs on the last day of occupation.

7.0 USE OF PREMISES

The Tenant shall only use premises for commercial purposes. This property is leased as per
agreed terms and conditions with the landlord.

MEMORANDUM OF AGREEMENT OF LEASE

7.1 The lessee undertakes to acquire written permission of the lessor if the premises are to be
utilized for any other purposes, failure to which the lessee will be in breach of contract.

7.2 Failure by the lessee to acquire the lessors’ written permission will amount to a material
breach of this lease and the lessor will be entitled to act in terms of breach of contract.

7.3 The lessee is allowed to erect any structure for the protection of their goods/property with
the consent from the lessor.

7.4 The lessee is allowed to use refrigerators and the radio that were used by the lessor for
the period of the lease, and these will be used solely for business purposes.

8.0 LESSORS RIGHTS

8.1 The LESSOR or his agent shall be entitled to inspect the premises every three (3) months
during business hours and by appointment with lessee;

8.2 Shall have such right of access to the premises as is reasonably necessary for carrying out
the said work’

8.3 The lessor shall not be excused from specific performance of any of its obligations under
this lease, whether express or implied, and particularly (but not only) its obligations to
afford the lessee occupation and enjoyment of the premises as contemplated by this lease.

9.0 BREACH OF LEASE

Should the Tenant fail to pay the monthly rental within 7 (seven) days of its due date, or commit
any breach of any conditions or clauses of this agreement the landlord shall have the right to
cancel and put to an end to this lease and take immediate possession of the premises, without
prejudice to the Landlords’ right to claim unpaid rent and damages or any other amounts due in
terms hereof and the Landlord without prejudice to the afore going shall in any action for
possession of the premises be entitled to claim the rent for the month in which the action is
instituted as and by a way of liquidated damages. No laxity, temporary or otherwise, of any
provisions of this Agreement shall be taken by Tenant as a precedent or justification for
continuing the same and the waiver at any time by the landlord of his rights in respect of any past

MEMORANDUM OF AGREEMENT OF LEASE

breach shall not in any way prejudice his rights in regard to any other further breaches. If, as a
result of a Tenant default in paying rent, or any other monies due in terms of this Agreement or
of the non-compliance with any of the provisions thereof, the landlord instructs its legal
representative to make demand or institute proceedings against the Tenant, the latter shall in
either such events be responsible for, and shall pay for all the legal costs and disbursements so
incurred, including particularly collection charges and costs as between legal practitioner and
client. Breach of the lease agreement shall permit forceful eviction from the premises and the
landlord shall not held accountable for any damages to the property.

10.0 VARIANCE/WAIVER

No Agreement at variance with the terms and conditions of this Agreement shall be binding on
the parties hereto, save as regards rental, and any indulgence which the landlord may show the
Tenant, and more particularly, any act of the landlord in accepting any payments after due date
or in accepting a lesser sum than the amount due, shall not any way prejudice his rights or be
construed as a waiver of same by the landlord.

12.0 MUNICIPAL BY-LAWS

The Tenant shall not contravene or permit any contravention of the Laws and regulations of the
Township, Municipal, Government, or the conditions of tittle under which the properties are held
by the Landlord and shall at all times conform the same.

13.0 SECURITY OF PREMISES

13.1 In the event that the Lessor has found a security for the premises, the security personnel will
be responsible for guarding the premises, and will be paid in agreement between the lessee and
the lessor.

14.0 RESOLUTION OF DISPUTES AND COSTS

The disputes to be resolved in courts of law in Zimbabwe with the assistance from the Zimbabwe
Republic Police.

15.0 WHOLE AGREEMENT

MEMORANDUM OF AGREEMENT OF LEASE

The parties hereto acknowledge that this document constitutes the whole agreement between the
parties hereto and any other terms, representations, provisions, or conditions whether express or
implied are excluded here from and any variation, alteration or addition to this agreement shall
not be of any force or effect or legal validity unless reduced to writing and signing by the parties
hereto.

16.0 JURISDICTION

The landlord shall have the option of instituting any action or proceedings arising out of this
agreement in the BEITBRIDGE Magistrates Courts and the Tenant hereby consents to the
jurisdiction of the same court. The tenant will also institute proceedings at Gwanda Magistrates
court.

IN WITNESS WHEREOF we have hereunto set our hands at ZEZANE on the said day and
date mentioned, in the presence of undersigned witnesses.

Made and fully agreed at…………………………..on this………………….day

of………………………………..20………………………………….

TENANT LANDLORD

NAME……………………………………….. NAME……………………………………..
I.D……………………………………………. I.D…………………………………………
SIGNATURE……………………………….… SIGNATURE………………………………
WITNESSES
MEMORANDUM OF AGREEMENT OF LEASE
1. NAME…………………………………………………………….
I.D…………………………………………………………………
SIGNATURE……………………………………………………...

2. NAME……………………………………………………………..
I.D…………………………………………………………………
SIGNATURE……………………………………………………..

MEMORANDUM OF AGREEMENT OF LEASE