06/09/2019
--Business PLan--
WHEREAS, the FIRST PARTY is the proprietor of PC-AIRMAX-MIKRO TECHNOLOGIES, an internet service provider duly licensed by the
National Telecommunications (NTC) with VAS PERMIT NUMBER VAS-KK-0009-2019;
WHEREAS, the FIRST PARTY, is willing to lease the use and possession of the necessary equipment to the SECOND PARTY for his/her business or personal use;
NOW, THEREFORE, for and in consideration of the following covenants, the FIRST PARTY hereby leases unto the SECOND PARTY such pieces of equipment included in the Business Plan, subject to the following terms and conditions agreed upon by the parties, to wit:
1. PERIOD OF LEASE –- This agreement shall remain valid only for one (1) year from singing, renewable for a similar period. The FIRST PARTY may pre-terminate this agreement for just, valid or legal cause(s). However, a written notice of termination shall be sent to the other party at least thirty (30) days from the intended date of termination.
2. RENTALS — The rental per month for the ___ mbps shall be P__________________ which shall be paid upon the signing of this agreement. The monthly rental for the succeeding months shall be delivered by the SECOND PARTY to the FIRST PARTY’s office every _________ of the month. The lessee may opt to issue twelve (12) checks to cover the rental for one year.
3. EQUIPMENT — The FIRST PARTY shall provide to the SECOND PARTY the following pieces of equipment: (a) outdoor radio; (b) wireless indoor router; (c) power over ethernet (POE); and utp wire/rj45. Installation of such equipment shall be for the account of the FIRST PARTY.This includes the necessary RSL(Radio Station License) from NTC of the FIRST PARTY.
4. DEPOSIT — The SECOND PARTY shall pay a 1 month advance (MSF) depend on what monthly subscription.
5. OUTDOOR RADIO PLACEMENT—When outdoor radio put up in a pole/tower or any damages cause by a tower the SECOND PARTY had a sole responsibility.
6. RESELL—The SECONDARY PARTY had no right to resell/sublease to other person without any written consent by the FIRST PARTY.
7. DAMAGE/LOSS — If any of the equipment leased is damaged or lost due to the fault or negligence of the SECOND PARTY, his representative, visitors or family member, the same shall paid by the SECOND PARTY.
8. SUBLEASE — The SECOND PARTY shall not lease or allow the use of the equipment subject of this contract to another person without the prior written consent of the FIRST PARTY. The rights of the SECOND PARTY under this contract shall not be assigned or transferred to another person without the prior written consent of the FIRST PARTY.
9. ILLEGAL USE/FAILURE TO PAY — If the SECOND PARTY fails to pay two (2) monthly rentals or uses the leased equipment for illegal, immoral, unjust or unlawful means, the FIRST PARTY shall have the right to automatically terminate this lease without need of demand. The FIRST PARTY shall have the right also to collect the rentals due with interest of five percent (5%) per month, damages and to pull out the leased equipment. For this purpose, the SECOND PARTY has irrevocably authorized the FIRST PARTY or his agent to enter the premises, house or establishment of the SECOND PARTY where the equipment leased is/are located for the purpose of pulling the pieces of equipment out.
10. INSPECTION — The FIRST PARTY or his agent shall have the right to inspect the equipment during reasonable hours of the day.
11. GUARANTEE — The FIRST PARTY guarantees the peaceful and undisturbed possession/use of the equipment leased during the existence of this contract.
12. EFFECT — This agreement shall bind the heirs, assigns or successors-in-interest of the parties.
