KINGDOM OF CAMBODIA

Nation Religion King

LEASE OF LAND AND LAND

This lease is made in Phnom Penh on July 12, 2023 by and between:
1) I, the undersigned, PENH Khim, male, 54 years old, born in 1969, Khmer
national, holding Khmer ID card No. 011112132, currently residing at No.
56, Lum Road, Borey 100 village, Teuk Thla quarter, Sen Sok district,
Phnom Penh, Kingdom of Cambodia,
Tel: 093 93 65 87
Hereinafter referred to as Party (A)
And
2) I, the undersigned, LIM Songcheng, male, 58 years old, born in 1965,
Khmer national, holding Khmer ID card No. 061991187, currently residing
at No. ………… Street …………, Village 4, Veal Vong quarter, Kampong Cham
province, Kingdom of Cambodia.
Tel: 071 200 20,000
Hereinafter referred to as Party (B)
The two parties agreed to the following terms and conditions:
Article 1: Subject and purpose of lease
1.1. Party (A) agrees to lease house and land to Party (B) for business
operation and Party (B) agrees to lease house and land from Party (A)
located at house No. ……… Street ………, Kraing Angkrang village,
Kraing Thnung quarter, Phnom Penh, Kingdom of Cambodia, with the
following boundaries:
To the North: 172, 604, 174; To the East: No. 151, 135;
To the South: 143; To the West: 148, 141;
With real estate ownership certificate No. 12051101-0142, of the
Phnom Penh Municipal Department of Land Management, Urban
Planning, Construction and Cadastre (hereinafter referred to as the
leased location).
 1.2. Party (B) has agreed to lease the above location from Party (A) to
operate a business in accordance with the laws and regulations of the
Kingdom of Cambodia.
Article 2: Lease period
2.1. The lease is valid for a term of 10 (ten) years, commencing from July
15, 2023 and ending July 15, 2033 (hereinafter referred to as the lease
expiration).
Article 3: Rent and payment
3.1. Party (A) agrees to lease house and land to Party (B) at the following
agreed-upon rates:
A) The rent shall be USD 1,400 (one thousand four hundred) US
dollars per month for the initial 1 (one) year equaling 12 (twelve)
months, commencing from July 17, ………… ending July 15, 2023.
B) The rent shall be USD 1,500 (one thousand five hundred) US
dollars per month for the 4 (four) years equaling 48 (forty-eight)
months, commencing from July 15, 2014 and ending July 15, 2023.
C) From the 6th (sixth) year onwards, the rent shall be subject to a
discussion between the two parties or an increase in the rent from
10% to 20% of the current rate.
3.2. Party (B) shall make a three(3)-month deposit of USD 4,200 (four
thousand two hundred) US dollars and a one-month advance payment
of $ USD 1,400 (one thousand four hundred) US dollars, so the total
amount shall be $ 5,600 (five thousand six hundred) US dollars to
Party (A).
3.3. At the end of the lease term as stated in Article 2, Party (A) shall
return the three(3)-month deposit of USD 4,200 (four thousand two
hundred) US dollars to Party (B).
3.4. Upon the specified date each month, Party (B) shall pay the rent to
Party (A) or Party (A)’s representative at the location of the house and
land or by the means determined by Party (A).
3.5. If Party (B) fails to pay the rent in accordance with this lease for one
(1) month, Party (A) shall notify Party (B) one month before taking
action in accordance with the lease or shall be entitled to forfeit the
 three(3)-month deposit of USD 4,200 (four thousand two hundred) US
dollars and terminate this lease unconditionally.
10.2. The dispute resolution shall be made by negotiation or arbitrator or
attorney-at-law at an appropriate time and place agreed upon by both
parties.
10.3. If the mediation or arbitration or attorney-at-law is not successful,
both parties may refer the dispute to a Cambodian court for legal
adjudication.

Article 11: Effect and entry into force

11.1. This lease is made in Khmer and in 3 (three) original copies.
- 01 original copies is retained by Party (A) and another one is
retained by Party (B).
- 01 original copies is retained at the authority office.
11.2. The parties to this lease have read and understood all the contents of
this lease and agreed to accept and implement this lease in its entirety
as the undertaking of the parties and this lease shall be effective and
valid from the date of signatures onwards.
The parties agree to enter into a lease with the right thumbprints as
the evidence before the law.

Right thumbprints or signatures

Party (A) Witness Party (B)
(Thumbprint (Thumbprint (Thumbprint (Thumbprint
affixed) affixed) affixed) affixed)

PENH KHIM IM SOTHEA OUCH SORPOL LIM

SONGCHENG