EX-10.26 13 ex1026.htm EX-10.26
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: