LEASE AGREEMENT

This lease agreement is made and entered into this day of December 5, 2014 in Addis Ababa, Ethiopia.

Between

________ resident of Addis Ababa, Ethiopia, ___________________, house No.(_____),Tel ________________,(here in after called the “Lessor”), which expression shall, Where the context so admits, include the heirs, executors, administrators, successors, assignees of the Lessor, of the one part;

And

__________________________ (herein after called the “Lessee”),represented by __________ /nationality china/Address ____________________________ No. New passport No.__________ and Tel. ______________, which expression shall, where the context so admits, including the administrators, Successors, and assignees of the lessee, of the other part.

Whereas, the Lessor is the owner of house No.(new),title deed _______________ located at Addis Ababa, ____________________ , surrounded by fence ,hereinafter called “the premises”, and is willing to lease the said premises to the lessee;(photo copy of title deed to the promises is attached here with as Annex 1)

Whereas, the Lessee is interested in and is willing to take up on lease the promises here in above defined;

Now, therefore, the Lessor and the lessee have agreed as follows:

1. Period of rent, amount and terms of payment

a. The all inclusive rent per month shall be USD $12,000.00 (Twelve Thousand Only) plus VAT payable in Birr at the Commercial Bank’s exchange rate on the day of payment.

b. Payments shall be settled in full for the 1st year & every year thereafter. And the Lessor guarantees that they will not rise in price in two years.

c. The lease commencement date should be the same day with the day when the Lessor delivers the premises to the Lessee, and the lessee accepts to take over after inspection on the premises, in a condition suitable for activities of the lessee, subject to 3(a)here under.

d. The duration of this lease contract shall be for 2 (Three) years (renewable), from the 1st January 2015 to 31st December 2016. The contract may be extended for a further period of time, on terms and conditions to be agreed upon by Lessor and Lessee.

2. OBLIGATION OF THE LESSEE

The lessee hereby undertakes:

a. To use the premises for HOTEL PURPUSE (with a cafeteria inside the hotel) only.

b. Lessee shall ensure that the premises and all facility leased to be utilized in a star Hotel standard and avoid any mishandling of property by guests.

c. To maintain, subject to sub-paragraph 3(b) hereunder ,the premises in good condition, except that the Lessee shall not be responsible to repair damages occasioned by an act of force majeure, normal wear and tear or structural defect of the premises.

d. To look after the premises in general can be responsible for cleaning, which are made necessary by the Lessee’s enjoyment of the promises or by persons for whom the Lessee is responsible.

e. The lessee may, after getting a written consent from the Lessor, which consent shall not be unreasonably withheld, and at its own cost and expense, make alteration, addition, changes, modification, enlargement or reduction to the premises; without however making major structural changes to the main building.

f. The Lessee reserves the right to utilize all available furniture’s and equipment in the Hotel.

g. To pay for all utilities and serves charges, including water, electricity, gas, garbage disposal, telephone etc., consumed or used by lessee in relation to the premises.

h. To permit the Lessor or his agent to enter the premises in order to carry out repairs for which the Lessor is responsible or upon reasonable notice to visit or inspect the premises, however, any visit or inspect from the Lessor side should not interrupt the normal business activities of the Lessee.

i. To handover the premises at the termination of the lease, in a condition that the premises were at the time of the lease agreement, except for normal wear and tear.

3. OBLOIGATION OF THE LESSOR

The Lessor here by undertakes:

a. To deliver the premises to the lessee on January 1, 2015 in a condition suitable for the activities of the lessee. Only under below circumstance, the premises are regarded as suitable for the activities of the lessee. Otherwise, should not.

1. The height of entrance and exit of the parking area should be adjusted by the Lessor.

2. The electricity system should be connected to each room and should be connected to each room properly.

3. The telephone line should be connected to each room and should be equipped with intercoms. And the exchange should be equipped and connected to network.

4. The water system should be available and water including hot water should be connected to each room properly.

5. All rooms should be equipped with a full set of furniture (including bed, tables and chairs, etc.) and televisions, which can received Chinese channels (the Lessor has obligation to purchase and fix the satellite disc and decoder).

6. The internet in each room should be available.

7. The basic decoration of the premises (include the kitchen), which include floor tile, ceiling and paint, should be finalized before the Lessor hand over the premises to lessee).

8. The fence of the whole premises should be established in a proper way to ensure security and safety of the premises.

b. Upon notice by the lessee, to make all the necessary repairs with respect to which the lessee is not responsible, including repairs, which are occasioned by an act force majeure, and structural defect of the premises.

c. Where the repairs to be carried out by the Lessor take more than fifteen (15) days the Lessee reserves the right to deduct from the rent in proportion to the time and proportion of the premises of which the lessee is deprived the right of use, or terminate the lease Agreement. d. To pay all taxes, dues or charges, imposed by local, municipal or national authorities in relation to the premises or income derived there from.

e. To guarantee the Lessee the quiet possession and enjoyment of the premises throughout the duration of the lease without any interference by the Lessor or any person claiming from the Lessor or under the Lessor. The Lessor warrant that they are fully possessed of the premises and are entitled to make this Lease Agreement, and agree to hold the lessee free and harmless of and from any third party demands, claims, actions, or proceeding in relation to the premises. f. Not to terminate the agreement except as provided in this agreement.

g. The Lessor shall have an insurance cover for the premises at their own charge and expense against all insurable risks, including but not limited to fire, burglary, flood and earthquake. (An inventory of the premises is attached herewith as annex2.)

4. GENERAL CONDITIONS APPLICABLE TO BOTH PARTIES

a. With the prior consent of the Lessor, which consent shall not be unreasonably withheld, the Lessee may assign or sublease the premises, to persons who would use the premises for similar purposes. In the event the premises is assigned or subleased, the Lessee shall continue to remain responsible to the Lessor, together with the assignee or the sub Lessee, for the due performance of all the terms, covenants and condition of this lease Agreement.

b. If the Lessor sells, transfer, assigns, bequeaths, gives, mortgages, or transfer in any manner the ownership or control of the premises, the Lessor shall ensure, through stipulation in the deed or by other means that this Lease Agreement and any options provided hereunder, shall remain in full force and effect throughout its terms.

5. TERMINATION OF THE AGREEMENT

a. This Lease Agreement may be terminated:

1. If either party fails to abide by any of its obligations contained in this lease agreement or obligations imposed by law on the parties, or if the premises or any party thereof is found to be unsuitable for the purposes it is intended for, or by the agreement of both parties.

2. In cases of an act of force majeure as defined under the Ethiopian law, including the inability of the Lessee to operate its business.

3. After two years, if no agreement is reached on an initiated revision of rent.

b. In all cases of termination, the lease amount for the unutilized period of the lease shall be reimbursed to the Lessee within fifteen days of the termination of the lease agreement.

c. The termination of this agreement will be without prejudice to any right of action or remedy of either party in respect of any antecedent breach of the terms and conditions contained in this agreement.

d. If the lessor failed to deliver the premises to lessee on time in a condition suitable for the activities of the Lessee, subject to 3(a) here above, the lessee would reserve the right to terminate this agreement, and the lessor should return all the repayments from the lessee back.

e. Lessee will deposit one month rent in a bank blocked account to be accessed by the Lessor at the end of the lease period for repair of the building and equipment if and only when the lessee fails to honor its commitment to repair damages(except normal wear and tear) and hand Over the premises to the lessor.

f. The Lessee should notify the Lessor one month in advance before the lessee terminates this agreement.

6. SETTLEMENT OF DISPUTES

Any dispute arising in connection with this Lease Agreement shall be settled amicably through mutual negotiation of the parties. In the event that the parties are unable to reach agreement, the dispute shall be referred to a court of competent jurisdiction.

This agreement is prepared and agreed in English in two originals one each to be kept with the parties. Parties may have it translated in any language for ease of reference or understanding. However in case of ambiguity or interpretation, the English language will have preference over the other languages.

In witness, whereof, the parties hereto, have signed this Lease Agreement in two (2) copies, each of which shall have the same status.

The Lessor The Lessee

____________________ ____________________

WITNESSES

FOR THE LESSOR FOR THE LESSEE

Name: __________________ Name: __________________

Address: ________________ Address: ________________