• | The term of this lease commences on June 1, 2013 and ends on June 1, 2023. (Ten years) |
• | The tenant may use the premises for any lawful business purpose that is not unreasonable and that does not interfere with normal use and enjoyment of the neighboring units and properties. |
• | The tenant shall pay the landlord rent of $3,972.00 per year in equal monthly installments of $331.00 in advance on or before the first of each month commencing on June 1st, 2013 |
• | The said rent is fixed and shall not be increased over the duration of this lease and any renewal. |
• | The said rent is all-inclusive and includes all condo maintenance fees, property taxes, HST, TMI, and utility bills excluding hydro. |
• | The following services and
expenses are the sole responsibility and expense of the landlord: - Taxes, maintenance and building Insurance. - Repair and maintenance of the property and the leased premises, including repair-work such as replacing burnt light bulbs etc, - Property tax for the property. - All utilities usage excluding Hydro. - HST payments. - All electrical and glass work, - Repair of any physical damage caused to the leased premises as a result of vandalism or theft. |
• | The landlord shall also be solely responsible for repairs or improvements to the structure and to the exterior of the building, |
• | The landlord covenants with the tenant that so long as the tenant complies with the terms of this lease, the tenant may occupy and enjoy the premises without any interruption from the landlord. |
• | The tenant may assign or sublet the premises, or allow the premises to be used by any other person without the consent of the landlord. |
• | If not in default under this lease, the tenant has the right to renew this lease for a further ten years.... The renewed lease is granted on the same terms and conditions as set out in this lease including the rent amount. |
1. |
When we have been blaming Shah Jahan Khan for signing the agreement with various parties, does it not apply to Malick? He signed this agreement supposedly on May 27, 2013 and witnessed by Harris Ali (YCC 42 Manager) but the fact is that Harris Ali was not working on the site on the said date. |
2. |
Why the rent fixed ($331/monthly) and shall not be increased over the duration of the lease and any renewal? |
3. |
Why the rent is all inclusive including all sorts of taxes, HST, Property Taxes, Utility bills (excluding hydro), maintenance, all electrical and glass work? We all owners and residents have to pay all of them ourselves, so why the exemption has been given to Sohail's wife? |
4. |
The previous lease signed in 1972 mentions the rent of $250 plus the 6 % rental of all gross sales over $2500. So how come the amount of rent is less in terms of CPI even after 40 years? |
5 |
Malick signed the lease for literally 20 years as if he owns the property, does he own the said space? |
1. |
The commercial unit customers. |
2. |
Contractors. |
3. |
People visiting the corporation's management office. |