LEASE AGREEMENT

This Lease agreement is made in Denpasar, on 08 March 2020, by and between :

1. Name : Ms. Mami Inoue

Place, Date of Birth : Tokyo, July 25th 1972
Address : Jl. Gunung Athenn I no 32, Banjar Padang Sumbu Tengah
Denpasar - 80117
Passport : TZ 1044580

Herein after referred to as the: FIRST PARTY

AND

2. Name : Mr. Pavel Timoshenkov

Place, Date of Birth : USSR, June 2nd 1989
Address : ………………………………………………
Passport : 75 4845877

Herein after referred to as the: SECOND PARTY

The FIRST PARTY herewith to lease to the SECOND a parcel of land and building as follows :

 a parcel of land, in the area of

o 800 sqm ( eight hundred ) land and building, which consisted of 700sqm (seven
hundred sqm ) as land and building and around 100 sqm ( one hundred sqm) of
access to the land and shared parking space ( for 1 car and 3 motorbikes), which
being part of the leased land, under Lease Agreement dated June 1st 2005
between ms Mami Inoue and Mrs I Gusti Sagung Oka. On that agreement is
written that ms Mami Inoue owns the 800 sqm and 700 sqm, total 1500 sqm.

 located in Jl . Gunung Athena I no. 32 , Bali Province, Denpasar Regency, Denpasar,

Padang Sumbu Tengah Village.

 including anything currently on the land which according to its nature, purpose and the
law is considered as “un-removable object”,

 The parties declare that they have already recognized the location, the boundaries and
anything to do with the leased land and building , therefore there is no need for a detailed
and further explanation regarding the land.
  The FIRST PARTY herewith gives all the right and obligation that she has from the land
owner ( according to Lease Agreement, date : June 1st 2005 ) to the SECOND PARTY ,
including her right and obligation as follows :

o to construct permanent and/or semi permanent structure on the leased land,

o to use the premises leased by this deed for residential and/or for business
purposes

o and to pay Land Tax or any kind of other obligation and any kind of permition
from government in accordance with applicable regulations.

o The First Party is exempt from all kinds of obligations and risks to the land and
buildings that are leased by the Second Party on this agreement.

o All rights and obligations received by the First Party from the Land Owner based
on the Lease Agreement date June 1st 2005 are also apply to the Second Party
on this Lease Agreement.

Hence, both parties, have come to an agreement and wish to record the lease in this letter of
agreement, using terms and conditions as follows:

ARTICLE 1
THE PERIODE OF THE LEASE

The period of the lease shall be effected and accepted as of 06-03-2020 (Sixth of March, year
Two thousand twenty ) which shall be expired on the 01 -06-2030 (First of June, Two thousand
thirty ).

ARTICLE 2
THE PRICE AND TERM OF PAYMENT OF THE LEASE

Both parties have agreed that the lease price of the land for the whole period mentioned in
Article 1 above shall be Rp. 700.000.000,- (seven hundred million Rupiah)which has term of
payment as follows :

Deposit : Rp. 70,000,000 (Seventy Million Rupiah)

Date : already paid to First Party on March 6th 2020.

1st Payment : Rp. 150,000,000 (One Hundred Fifty Million Rupiah)

Date : April 6th 2020

Final Payment : Rp. 480,000,000 + 5% or total Rp. 504,000,000 (Five hundred and four
million Rupiah)

Date : March 6th 2021

Note :

 Payment of the Lease must be completed before the signing of this agreement, and for
such payment this agreement shall serve as a valid receipt thereof.

 If in the First Payment deadline, which is April 6th, 2020, the Second Party is unable to
pay the agreed amount of Rp. 150,000,000 (One Hundred Fifty Million Rupiah) to First
Party, then the agreement will be cancelled and the paid Deposit is not refundable.

 If in the Final Payment deadline, which is March 6th, 2021, the Second Party is unable
to pay the agreed amount, Rp. 504,000,000 (Five hundred and four million Rupiah) to
First Party, then the agreement will be cancelled and the paid Deposit and First Payment
are not refundable.

ARTICLE 3
RIGHT TO SUB LEASE

Within the lease period, the Second Party herewith is allowed by the First Party to sub-lease /
transfer their lease rights to the land as stated in this deed to other party, part or all of it, as long
as the Second Party give prior notification INWRITING to the First Party in regards to the sub-
lease / transfer of the lease rights.
 ARTICLE 4
EXTENSION OF THE LEASE

This Lease Agreement cannot be extended. If the Second Party intends to extend the rental
period written in this lease agreement, the Second Party is invited to contact the Land Owner or
her heir.

ARTICLE 5
TAX AND BILLS

During the lease period, the Second Party shall be responsible to pay any bills assessed upon the
premises, including electricity bills, water, telephone and other sort of payment if any.
Within the lease period, Annual Land and building Tax (PBB) especially for the particular leased
Premises shall be paid by the Second Party.

ARTICLE 6
THE END OF THE LEASE

At the end of this lease agreement, The Second Party shall :

 Return the leased premises to the Land Owner in the condition as it is at that time ( year
2030 ). Permanent building or non-movable facilities will be belong to the land owner
and the movable-facilities will be belong to the Land Owner or her heir.

 Hand over the receipt of payment of the electricity power, water, telephone bills, PBB
and other payment assessed upon the Premises, and if Second Party still has not paid any
bills due to his using the premises or its facility within the lease period then the expiration
of the lease does not end the obligation of the Second Party pay what he has used, it still
be the responsibility of the Second Party to pay for it, and for this all Second Party
belongings shall be the guarantee for the payment of all Second Party obligation.

ARTICLE 7
THE HEIRS

This land lease agreement shall not be ended because of the death of the First Party or Second
Party, but shall be binding and fulfilled by the heirs of the dead and/or the successors in rights
and title.

And even the leased land is transferred/sold to other party or the ownership of the land is being
passed on in whatever manner to other party, the new owner of this land has to comply with all
the terms and conditions in this lease agreement
 ARTICLE 8
CLOSING PROVISION

Any unresolved issues or questions arising in connection with this agreement shall be settled by
mutual agreement of the parties hereto.

Any future amendments and addendum to this agreement shall be made in writing and signed by
the parties hereto.

IN WITNESS WHEREOF the parties hereto have executed this Agreement by affixing their
signature hereto as of the date first mentioned above.

FIRST PARTY SECOND PARTY

Ms, Mami Inoue Mr. Pavel Timoshenkov