Addendum to the Lease Agreement made and entered into by and between Buzz Trading 199 (Pty) Ltd and Net 1 Applied Technologies South Africa (Pty) Ltd dated 14 June 2022

Contract Categories: Real Estate - Lease Agreements
EX-10.26 13 ex1026.htm EX-10.26 ex1026
Exhibit 10.26
 
ADDENDUM TO THE
LEASE AGREEMENT
Made and entered into by and between
BUZZ TRADING 199 (PTY) LTD
Registration Number 2007/021617/07
Represented by: Lance Manning Seymour Chalwin-Milton
ID Number: xxx
(“the Landlord”)
AND
NET 1 APPLIED TECHNOLOGIES SOUTH AFRICA LIMITED
Registration Number 2002/031446/06
Represented by: Naeem E. Kola
ID Number: xxx
(“the Tenant”)
in respect of certain premises situated at
President Place, Cnr Hood and Bolton Roads, Rosebank
 
Reg. No. 2001/005175/07
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
WHEREAS
the
 
parties
 
hereto
 
entered
 
into
 
an
 
Agreement
 
of
 
lease,
 
pertaining
 
to
 
the
 
premises
measuring
 
approx.
 
8063.65
 
square
 
meters,
 
situated
 
at President
 
Place,
 
7 Hood
 
Avenue,
 
Rosebank,
Johannesburg.
 
The premises
 
comprise
 
of the following:
Section
1
Floor
Basement1
Wing
SQM
620.00
2
Ground
 
Floor
West Wing
221.66
8
Ground
 
Floor
North
 
Wing
150.29
13
3
rd
 
Floor
West Wing
938.72
14
3
rd
 
Floor r
North
 
Wing
938.72
16
4
th
 
Floor
West
 
Wing
938.70
16
4
th
 
Floor
North Wing
938.70
17
5
th
 
Floor
West
 
Wing
938.70
18
5
th
 
Floor
North Wing
938.70
19
6
th
 
Floor
West Wing
716.73
20
6
th
 
Floor
North Wing
722.73
STORAGE 1 -
 
BASEMENT 1
 
4
 
PARKING
 
BAYS
STORAGE 2
 
- BASEMENT 3
 
8
PARKING
 
BAYS
AND WHEREAS
the
 
Lessor
 
and Lessee
 
has agreed
 
to extend
 
the
 
main lease
 
for
 
a further
 
period
 
of 6
(Six) years;
Now
therefore
ft is agreed
as follows:
•
1.
That the
 
lease term Is• extended
 
for a period
 
of
 
6 (Six)
 
years, commencing
 
on the
 
01
June 2022
 
and expiring
 
on 1he
 
31
 
May 2028.
2.
 
That
 
all
 
terms
 
and
 
conditions
 
of
 
the
 
main
 
Lease
 
Agreement
 
signed
 
on
 
the
 
7
 
May
2013, will
 
remain for
 
the extended
 
period of this
 
Addendum.
3.
 
That
 
the
 
monthly
 
rental
 
throughout
 
the
 
initial
 
period
 
payable
 
by
 
the
LESSEE
to
 
the
LESSOR
shall be:
Monthly
Net Rental,
Parking
and
Storage
fixed
for the Lease period:
Period
Amount
 
Excl VAT
Escalation
1 June 2022-
 
31 May
 
2028
R886
 
000.00
0.00%
Monthl
IY
0
,nera
ti
ng
C
osts:
Initial Rates
&
Taxes:
This charge as at the 01 June 2022 ls
 
R 199
 
992.66 per
 
month
(ex Vat)
 
escalating
 
annually
 
as per the
 
council
 
increases
 
per annum.
 
The next Increases
 
will
be passed
 
on the 01
 
July 2022.
Parking:
250
 
basement bays
storerooms:
Total
 
of 12 parking bays
4.
 
Additional
 
Charges
The tenant will
 
be
 
liable for the
 
following additional monthly charges:
Period
Amount
Exc
l
VAT
Escalation
1 June 2022
 
- 31
 
May 2023
R
326
 
621.00
5.00%
1
June
2023 -
 
31 May 2024
R
342 952
.
05
5
.
00%
1
June
2024 -
31
Mav 2025
R
360
 
099
.
65
5
.
00%
1
June
2025 - 31 May 2026
R378104.64
5
.
00%
1
June 2026
-
31 Mav 2027
R
397 009.87
5
.
00
%
1 June
2027 - 31
Mav
2028
R
416 860.37
5
,
00%
 
4.1
Electricity-
The metered cost of all
 
electricity consumed by the Tenant at the tariff to the
Tenant
 
plus a charge for reading the meter.
 
If not metered, consumption will
be calculated
 
according
 
to the area of the
 
premises in relation
 
to the gross
lettable area ("gla”)
 
of the building. In addition to the aforementioned the
tenant will be liable to pay pro rata share in proportion
 
to the gross lettable
area of the building of the electricity
 
consumed
 
within the common area
 
or
areas of the building, including the electricity
 
consumed
 
by the air
conditioning
 
system servicing
 
the common areas.
4.2
Water-
 
The
 
metered
 
cost
 
of
 
all
 
water
 
consumed
 
by
 
the
 
Tenant.
 
If
 
not
 
metered,
consumption will
 
be
 
calculated
 
according to
 
the area
 
of the
 
premises
 
in
relation to the gross lettable area ("gla”) of the building.
4.3
Sewerage
&
Refuse:
A
prorata share of the municipal charges for refuse
 
removal,
sewerage and other sanitation related charges; provided that
 
if the volume of
refuse generated by the tenant is higher,
 
per square meter of space occupied,
than the average, the calculation will be weighted to take
 
account thereof;
5
 
Tenant
Installation
The
 
Landlord
 
shall
 
contribute
 
a
 
maximum
 
amount
 
of
 
R
 
9 000
 
000,00
 
(nine
 
million
 
rand)(ex
VAT)
 
towards
 
the
 
Tenants
 
cost
 
for
 
the
 
remodeling
 
of
 
the
 
Tenants
 
rented
 
space,
 
which
amount
 
shall
 
be
 
payable
 
against
 
approved
 
construction
 
invoices
 
(payment
 
terms).
 
Please
note thal
 
specifically
 
no amounts
 
will be paid
 
towards
 
any furniture or moveable assets.
6
 
Slgnage
 
Board
The
 
Tenant
 
shall
 
be
 
given
 
3
 
months
 
usage
 
of
 
the
 
new
 
Signage
 
Boards
 
at
 
no
 
additional
 
cost.
Should
 
the
 
tenant
 
decide
 
to
 
extend
 
this period
 
the
 
tenant
 
will
 
deal
 
directly
 
with
 
Epic
 
Outdoor
and will be expected
 
to cover the monthly costs of placement.
7.
Walkway upgrade
The Landlord is committed to the upgrading of the walkways
 
between floors three -
 
six. Please
further note
 
that no Furniture
 
will be provided
 
by the Landlord.
Apart from the amendments contained herein, the
 
terms and conditions of the Main Lease
shall apply
 
to this
 
Addendum.
 
The
domicilium
citandi
 
et executandi
of
Net1
Applied Technologies
South Africa Limited is
President Place
6
th
Floor West
 
Wing
 
7 Hood Avenue
 
Rosebank
Dated at Rosebank this 14
th
 
day of June 2022
/s/ Lance Chalwin Milton
________________________________________
For and behalf of LESSOR
As Witnesses:
Dated at Rosebank this 14
th
 
day of June 2022
/s/ Naeem E. Kola
________________________________________
For and behalf of LESSEE
As Witnesses: