TENANCY AGREEMENT

THIS TENANCY AGREEMENT is made at Karachi, on this

day of November, 2022；

BETWEEN
MRS . SHAHEEN ASHRAF wife of MR. MAQSOOD ASHRAF MALIK, Muslim, adult,
holding C.N.I.C. No.42201-9171430-2, resident of House No. 46/1,
Main Khayaban-e-Shamsheer, Phase-V,
Defence Housing Authority, Karachi, hereinafter referred to as the
"OWNER", which term shall include her legal heirs, legal
representatives, executors and assigns of the ONE PART;
AND
M/S AYESHA CHUNDRIGAR FOUNDATION, through its C.E.O. Ms. AYESHA
CHUNDRIGAR daughter of MR. MOHAMMAD ALI CHUNDRIGAR, Muslim, adult,
holding C.N.I.C. No.42301-9939732-4, registered office at C-3, Plot
No. 59-C, Tauheed Commercial Street No. 24, Phase-V, Defence Housing
Authority, Karachi, hereinafter referred to as the "TENANT", which
term shall include their legal heirs, legal representatives,
executors and assigns of the OTHER PART;

WHEREAS the Owner confirms that she being the OWNER is legally
competent to rent out OFFICE PREMISES BEARING No. 502 LOCATED ON
FIFTH FLOOR, having covered area of 2048 square feet (Approx.) , in
the project known as "SHAHEEN CENTRE", constructed on Plot No. DC-
5, situated in Block No. 7 , K.D.A. Scheme No . 5, Clifton,
Karachi, hereinafter
referred to as the "SAID PREMISES" . AND WHEREAS the Owner has agreed
to let and the Tenant has agreed to take on rent the said rented
"PREMISES".

OWNER’S SIGNATURE: TENANT 1S SIGNATURE: AYESHA CHUNDRIGAR

(MRS. SHAHEEN ASHRAF) FOUNDATION Through its C.E.O.
Ms. AYESHA CHUNDRIGAR

Contd...p/2
 -：(2 ):-

NOW, THIS INDENTURE WITNESSETH AS FOLLOWS :

1. THAT the rent of the said Premises shall be

Rs. 150,000/- (Rupees One Hundred & Fifty Thousand
only) per month.

2. THAT the term of Agreement shall be for SIX (06) YEARS,

(renewable/extendable for every eleven (11) months). The
tenancy shall commence from 01st day of December, 2022, and
expire on 30th day of October, 2023.

3. THAT on completion of each term of eleven (11) months, the

rent will be increased by 7% (seven percent) on existing
monthly rent. After expiry of tenancy period of six years,
the tenancy may be renewed for further period(s) with mutual
consent of both the parties.

4. THAT the Tenant shall not sub-let the said Premises or part
thereof and shall not use the same for illegal or any other
purpose but for OFFICE purpose only.

5. THAT the Tenant has paid to the Owner a total sum of

Rs. 900,000/- (Rupees Nine Hundred Thousand only), out of
which Rs. 600,000/- (Rupees Six Hundred Thousand
only) as advance rent for four (04) months, w.e. f. 01st day
of December, 2022, to 31st day of March, 2023, @ Rs.
150,000/= per month PLUS Rs. 300,000/-
(Rupees Three Hundred Thousand only) equal to two (02)
months rent as Security Deposit, which will be refunded
(without interest) at the time of vacating the said Premises
after deduction of all outstanding dues, bills, damages, if
any.

6. THAT on completion of four (04) months advance rent, the Tenant

shall pay ADVANCE RENT EVERY TWO (02) MONTHS to the Owner till
the expiry of tenancy period.

7. THAT the Tenant shall not carry on or permit any part of the
said Premises for any offensive, noisy, dangerous trade like
storage of explosives market banned items.

8. THAT either party shall serve ONE (01) MONTH prior written
notice to the other in case the said Premises is being vacated
or is required to be vacated.

9. THAT the Tenant shall pay regularly all the bills of

electricity (Meter no LA 92889 Account no 0400005548401),
telephone (if any), Municipal Services Charges, water,
conservancy, fire and sewerage charges AS WELL AS WITH-HOLDING
TAX and the Tenant shall deliver to the Owner such paid bills
EVERY MONTH. The Owner confirms that all such bills have
already been paid/cleared upto date. However, the Owner will
pay Property Tax of the said Premises directly to the
concerned Department.

10. THAT the Tenant shall also pay all the charges for common
services/amenities contributed Monthly by the Occupants of SHAHEEN
CENTRE MANAGING COMMITTEE, subject to increase without notice. The
Owner confirms that all such bills have already been paid/cleared
upto date.

OWNER'S SIGNATURE: TENANT'S SIGNATURE: AYESHA CHUNDRIGAR

(MRS. SHAHEEN ASHRAF) FOUNDATION
Through its C.E.O.
Ms. AYESHA CHUNDRIGAR

Contd...p/3
 -：(3 )

11. THAT the Tenant shall keep and maintain the said Premises in
good and tenantable condition during the tenancy period and
on vacating the said Premises, the Tenant will hand over the
said Premises to the Owner AS IT IS CONDITION THAT IT WAS AT
THE TIME OF POSSESSION.

12. THAT the Tenant shall not make any additions, alterations and
modifications in the said Premises without the written consent
from the Owner.

13. THAT the Tenant shall do all the repairs at their own cost to
any damage to the said Premises or fixtures / fittings caused
or use by the negligence of the Tenant or their employees,
servants, or visitors.

14. THAT the Tenant shall keep the said Premises and other
fixtures, fittings and conveniences belonging thereto in good
and tenantable conditions, normal wear and tear excepted.
Under this clause, the Tenant shall be responsible to carry
out all the repairs in the said Premises.

15. THAT the Tenant shall permit the Owner or her authorised
person, to enter the said Premises to view its condition at
Twenty four hours notice. In case the Owner has seen any
unlawful activities in the said Premises, then the Tenant will
have to vacate the said Premises without any prior notice from
the Owner.

16. THAT the Tenant shall not use the said Premises or any part
thereof for any purpose or in any manner which may be a
nuisance to the Owner and/or to the occupier of adjacent or
other premises in neighborhood.

17. Both the Owner and the Tenant have finalized the transaction
by themselves alone at their own free will and conditions
after full satisfaction and inspection of said Premises as
well as status and credentials of each other.

IN WITNESS WHEREOF the parties above have set and subscribed their
respective hands hereto sign this Agreement at Karachi
on the day, month and the year first above mentioned.

WITNESSES :

1. ___ ： OWNER: (MRS. SHAHEEN ASHRAF) W/o

Name: MAQSOOD ASHRAF MALIK C.N.I.C. No.
CNIC No. 42201-9171430-2
Cell No.

TENANT:
2. Name： M/S AYESHA CHUNDRIGAR FOUNDATION
CNIC No. Through its C.E.O. MS AYESHA
Cell No. CHUNDRIGAR d\o MOHAMMAD ALI
CHUNDRIGAR

C.N.I.C. No. 42301-9939732-4