1 DEFINITIONS:

1.1. Lessor shall mean Abound Storage Tank Lessor.

1.2. Lessee shall mean the parties specified in the Storage Reservation Form
1.3. Rental shall mean the monthly charge levied for the hiring of a unit
1.4. Period shall mean one calendar month
1.5. Unit shall mean a specific storage unit allocated to the lessee
1.6. Lease shall mean the storage lease agreement
1.7. Initial period shall mean the amount of days leased (calculated on a daily basis)
before the start of a new calendar month.
2 DELIVERY PERIOD.
2.1 The Commodity shall be delivered by the Supplier / Exporter via vessel into the Ex-
Shore Tank, the Supplier, Injection or Transportation Company shall send a preliminary
NOR (Notice of Readiness) to commence the Injection of the Product into Ex-Shore
Tank not later than One (1) day before the injection of the product commerce into the
Ex-Shore Tank.
2.2 Delivery of the petroleum product shall be made into the Ex-Shore Tanks
immediately after receipt of Payment for the number of Days the LESSEE intend to
Store the Product in the Tanks and a NOR (Notice of Readiness) from the Supplier or
the Pipeline Injection Company is sent in order for the Tank to be cleared and the
issuance of the Tank Clearance prior to Tank Injection of Fuel
2.3 The Commodity shall be unloaded from the Ex-Shore Tanks at the port of
Rotterdam, Netherland. and Load into LESSEE Vessel Tanker at LESSEE options
during the Storage Period.
2.4 The LESSEE Shall Provide a Vessel (s) Tanker ready for loading during storage
period if the product is to be loaded into Vessel (s) Tanker from the Ex-Shore Tank.
2.5 The LESSEE shall send a preliminary notice of the name of the Vessel Tanker, the
estimated tonnage, the possible date of arrival and the readiness of the Vessel Tanker
for loading no later than One (1) business day before the arrival of the vessel Tanker to
the port.
2.6 The first quantity to be delivered by the Supplier/Exporter of the petroleum product
into the Storage Tanks shall be as per delivery Schedule provided by LESSEE
“Supplier/Exporter” in accordance to the Quality and Quantity stipulated on the delivery
schedule on the Sales and Purchase Agreement signed between both parties (i.e. the
“LESSEE” and the “Supplier/Exporter”).
3. AVAILABILITY OF TANK AND CAPACITY:
CAPACITY OF TANKS / LOADING TERMINAL TARIFF 48,000.00 USD PER DAY X 5
DAYS SUM TO 240,000.00 USD FOR 5 DAYS.
4. COMMODITY / QUANTITY / DURATION.
4.1 DIESEL EN590 with the Quantity of 700K MT PER MONTH FOR 12 MONTHS
WITH CONTRACT RENEWALS.
4.2 The lease shall be for the initial period of FIVE (5) days and shall thereafter continue
on a monthly basis until terminated by either of the parties as set out in paragraph and
below. The lease shall be for a minimum period of FIVE (5) days.
5. RECORDAL.
5.1 The LESSOR hereby lets to the LESSEE, who hereby hires from the LESSOR, for
the period specified in the Storage Reservation form, the units (s) on the terms and
conditions as set out below.
6. PAYMENT TERMS AND CONDITIONS / MEHTOD OF PAYMENT.
6.1 The LESSEE shall pay for the Ex-Shore Tank to be use in receiving and storing the
petroleum product not later than Three (3) Business day from the day the payment
invoice is
been issued from the LESSOR. The LESSEE will inform the LESSOR for the date of
issuing the invoice according with the LESSEE contract with his supplier of the
commodity. The invoice will be valid only after the LESSEE will inform the LESSOR to
remit the invoice.
6.2 The LESSEE shall pay for the Ex-Shore Tank to be use in receiving and storing
petroleum product in United State Dollar currency through the means of SWIFT MT103-
T/T directly into the beneficiary/fiduciary account provided in Invoice issued to the
LESSEE Company by the “LESSOR” duly sign and Seal by the General Director.
6.3 The amount to be paid by the LESSEE is calculated at the rate of 48,000.00 USD
per day.
6.4 The total amount to be paid by the LESSEE for the temporary storage of the Fuel in
the Ex Shore Tank for 5 Days period amount to 240,000.00 USD for the receiving and
storing of Diesel EN590, for 1-5 Days in our Tank Storage Facilities in ROTTERDAM
6.5 Upon remittance of the payment for the Number of days the LESSEE intend to Store
the Fuel in the Ex-Shore Tank, The Storage Period shall start counting from the day the
fuel is injected into the Ex-Shore Tank.
6.6 The Payment Method that is accepted is by Digital Coin, SWIFT MT103 wire
Transfer or Telegraphic Wire Transfer “T/T
7. TARIFF PAYMENT AND DEMURRAGE
7.1 Payment for 1 day rented shall amount 48,000.00 USD per day and for FIVE (5)
days will be 240,000.00USD to be paid by LESSEE before product injection to the tanks
will commence. Upon remittance of payment for the number of days the LESSEE intend
to store the fuel in the Ex-Shore Tank, the storage period shall start counting from the
day the fuel is been injecting into the Ex- Shore Tank.
7.2 The Demurrage per day is (USD 30,000.00), Note that the maximum days for the
demurrage is 7 days and the payment must be made within 48 hours of receiving the
invoice from the Lessor.
7.3 The LESSEE will be allocated with the tanks number indicated in point 19.4 of this
agreement upon payment of the initial rental fee.
7.4 The LESSEE shall have no veto right in the allocation of the unit by the LESSOR.
8. UNLOADING CONDITIONS.
8.1 The LESSEE warrant providing a Vessel Tanker Suitable and ready for Loading and
meeting with all the requirement of port in accordance to the port rules and regulation to
unload the commodity from the Ex-Shore storage tanks into the vessel tanker.
8.2 The LESSEE shall warrant its Supplier / Exporter to assign a port agent to obtain
the port clearance of the Vessel Tanker not later than Three (3) Business Days before
the Estimated Time of Arrival of the Vessel Tanker to the port and or Loading Terminal.
9. MAINTENANCE OF THE UNIT.
9.1 The LESSEE shall be responsible for the packing, storage and removal of his goods
during the period of the lease and upon termination thereof.
9.2 The LESSEE shall maintain the unit in good order and condition, fair wear and tear
excepted.
10. CANCELLATION
10.1 Each party may cancel this agreement by giving the other party written notice of
one full calendar month. If no such notice has been received, the parties will be deemed
to have renewed the lease for a further period.
10.2 Notwithstanding the foregoing, should the LESSEE fail to make payment of the
rental by the 3rd day of the renewal period, the lease shall be deemed to be cancelled
with effect from the last day of that month.
11. SECURITY PROCEDURES
11.1 The LESSEE shall be responsible for the internal security of his own unit (s) and
shall keep the unit locked under his own lock and key which he shall at all times
personally safeguard.
11.2 The LESSOR shall secure entry to and exit from the leased property by the
provision of security measures at the LESSOR’S sole discretion.
11.3 The LESSEE agrees to abide by the security procedures initiated by the LESSOR
from time to time.
11.4 The LESSOR shall be obliged to allow any person who is in possession of the
LESSEE personal key, entry to the unit on the assumption that such person enters the
unit upon the LESSEE authority.
12. DEFAULT.
12.1 In default of fulfillment of this agreement by either of the parties, the defaulter shall
be liable for all cost only if the default come for certain reasons.
12.2 In default of this agreement by either of the parties, price differences and losses
will be calculated and due for payment in accordance with the default Article of GAFTA
64.
13. INSURANCE
13.1 The LESSEE shall not do or omit to do anything or keep in the unit anything or
allow anything to be done or kept in the unit any item of a perishable, flammable,
explosive or illegal nature.
13.2 The LESSOR shall be obliged to insure at his cost all items stored in the unit
against all risks.
14. LIMITATION OF THE LIABILITY OF THE LESSOR.
14.1 The LESSEE shall not have any right, remedy or claim of any nature whatsoever
against the LESSOR for any loss, damage (whether general, special, consequential),
expenses or injury, which may be suffered by the LESSEE directly or indirectly,
irrespective of whether such loss, damage, expense or injury shall have been caused
through or as a result of the negligence of the LESSOR or any of its employees,
servants or agents, however arising.
14.2 The LESSEE hereby indemnify the LESSOR and holds it harmless against all/any
claims arising from above.
14.3 CESSION AND SUB-LEASE The LESSEE shall not sell, cede, transfer, pledge or
otherwise alienate any of his rights under this agreement, nor shall the LESSEE sublet
the unit or any portion thereof.
15. BREACH
15.1 Should the LESSEE fail, refuse and/or neglect to pay the rental, the LESSEE shall
be deemed to be cancelled with effect from the end of such month.
15.2 The LESSOR shall be entitled to institute a claim for any damages it may have
suffered as a result of the lessee’s breach.
15.3 The LESSOR shall be entitled upon 14 (fourteen) days registered notice to enter
the unit, to seize any items found therein and to dispose of such items in settlement of
arrear rentals and damages.
15.4 In the event of any legal proceedings to be instituted by the LESSOR against the
LESSEE shall be liable for the LESSOR legal costs but not more than 1% of the value
of the invoice, including collection charges, on the scale as between attorney and own
client.
15.5 A Further administration cost of EUR550.00 together with our agent’s costs will
automatically be levied on serving 14 (Fourteen) days registered notice.
16. NOTICES
16.1 All notices shall be sent by prepaid registered post to the parties’ domicile citadel
ET executants.
16.2 The said notices shall be deemed to have been received 7 days after dispatch
thereof.
17. DOMICILIA CITANDI ET EXECUTANDI
The parties hereby choose the under mentioned addresses as their respective domicile
citadel ET executants for the service of all notices in terms of this agreement, namely:
LESSOR: LLC
LESSEE: AGRO INTER DIS TICARET ITHALAT IHRACAT LIMITED SIRKETI
17.1 This agreement forms the sole memorial of the agreement between the parties and
supersedes any prior agreement between the parties in respect of the unit (s) specified
in the Storage Reservation form.
17.2 No variation, amendment, modification or alteration shall be of any force or effect
unless reduced to writing and signed by the parties.
18. GENERAL
18.1 This agreement forms the sole memorial of the agreement between the parties and
supersedes any prior agreement between the parties in respect of the unit (s) specified
in the Storage Reservation form.
18.2 No variation, amendment, modification or alteration shall be of any force or effect
unless reduced to writing and signed by the parties.
18.3 No representation by any of the parties has been made unless recorded herein,
which induced the parties into concluding this agreement.
19. TANKS INFORMATION
19.1 Tank(s) Location: The Storage Tanks is located in (Black Sea Region of
Novorossiysk Commercial Sea Port and upper Baltic Sea Region of Primorsk Port and
Japan Sea Region Nakhodka Commercial Sea Port, Vladivostok Commercial Sea Port,
Houston Port, Shell Europoort Port Terminal, ROTTERDAM).
19.2 Tank(s) Type: The Storage Tank is Epoxy Coated and Sealed for storage of
EN590.
19.3 Tank(s) Capacity: The Total storage Tank has a maximum capacity of 700 K MT
approximately.
19.4 Tank Coordinate (s): TBA in TSR
20 REFUND POLICIES
Should at any time the Supplier/Exporter fail to inject the product into the nominated
tank as it is identified via the Tank number/HUB number then the funds paid for that
Tank in accordance with this tank agreement shall be refunded in full without any
adverse effect in relation to the whole of this Tank Storage Lease Agreement, the
amount to be refunded shall be negotiated between the parties.