Terms and conditions

1. USAGE.

Lessee shall lease the Vehicle listed on Exhibit A from Lessor for:
(i) Use for social, domestic and pleasure purposes
(ii) Use for business purposes, including the carriage of passengers and/or goods for hire and reward by Lessee must provide a fully comprehensive Insurance Policy before taking delivery of the Vehicle from the Lessor (if
applicable).

2. VEHICLE.

Lessor hereby leases to Lessee the Vehicle and equipment fully described in Exhibit A, attached hereto and by reference incorporated herein.

3. REGISTRATION AND TAXES.

Lessor shall maintain ownership interest in each Leased Vehicle and provide valid registration. Lessor shall be responsible for determining taxes and all license fees due and shall only pay for the road tax, Private Hire Vehicle license fees and routine maintenance with respect to each Vehicle. Routine maintenance and service of the Vehicle (see Exhibit A) shall take place every 8,000-12,000 miles of use.

4. LESSOR AND LESSEE DUTIES.

Lessor and Lessee will have the following duties which it agrees will be faithfully executed during the term of this Lease:

A.
Lessor will maintain and service the Vehicle during the Lease Term as needed to keep Vehicle in good operating condition. Lessee will keep the Vehicle free from physical damage. Lessee will pay for all operating expenses for the Vehicle during the Lease Term, including, but not limited to, the cost of fuel, lubrication and oil parts, labor, storage, security, parking, towing, tolls and all other costs associated with operating the Vehicle unless otherwise noted in the Operations and Management Agreement.

B.
Lessee will not subject the Vehicle to any damage (i.e. scratches, dents or mechanical fault) and no more than normal wear and tear.

C.
If, upon scheduled Lease termination, Lessor’s appraiser, as required by applicable law, determines that the Vehicle have been subject to excess wear and tear, Lessee will be responsible and liable for the cost to restore the vehicle to the required condition, and the cost for excess wear and tear may be deducted  rom the initial £ deposit. Any excess expenditure over the initial deposit must be borne by the Lessee.

D.
In case of driving offences, penalties and violations – Lessee must take full responsibility and bear the cost in it’s entirety of any claims, penalties and fines for the Vehicle (see Exhibit A) incurred during the Lease Term. Lessor will charge an admin fee of £25.00 for processing and postage of each claim. In the case of an accident – the Lessee at fault will be responsible to pay all of the Insurance Claims, which include Insurance Excess and any Administrative Costs (in full). If applicable due to a fault, Lessee will pay £750.00 Insurance excess and £250.00 admin fee for the use of Lessor’s Fleet Policy.

5. EXCESS.

This contract shall be subject to the excessive jurisdiction of the United Kingdom laws. Standards that Lessor applies in determining that the Vehicle  see Exhibit A) has been subject to excess wear and tear are: the vehicle will not pass inspection to which it is or will be subject that all of repairs is the  esponsibility of the Lessee; the  ehicle is not returned with the same or comparable equipment or accessories, in working order in which Lessee is responsible to maintain, as installed at the time of delivery to Lessee; the Vehicle’s paint is in a substantially worse condition than when originally leased due to factors such as inappropriate cleaning procedures or chemicals, decal removal, vandalism, collision, fire or storm damage; there are any special  identification, making or modifications anywhere on the vehicle; the windows, lenses or lights are cracked or broken and it is determined that such breakage was not part of normal wear and tear; damage has resulted from flood water, ail, sand, abuse, misuse, negligence, accident, or excessive use, which is herein defined as use in Excess.

A.
Lessee will not modify the Vehicle internally or externally without the prior written consent of Lessor Any accessories, equipment or parts installed in or on the Vehicle with or without Lessor’s ermission becomes the property of Lessor and part of the Vehicle.

B.
Lessee agrees not to use or permit the use of the Vehicle:

(i)
for any unlawful or wrongful activity which is in violation of UK laws guidelines, any illegal activity is strictly prohibited the leased Vehicle (Exhibit A). Lessor will not be responsible for any the Lesser’s criminal/illegal activities and convictions. If the Lessee

(ii)
is caught doing illegal activity then he/she will be reported to the police ASAP and therefore will be prosecuted by the STATE. to transport passengers in excess of the rated capacity of the Vehicle (see Exhibit A) and the guidelines of UK laws

(iii)
more than 42,000 miles per year (i.e. 3,500 miles per calendar month or 807 miles per week). After which each mile will be a charged an excess of £0.29. Lessor will have the right to inspect the Vehicle from time to time at any reasonable time and upon the prior request of the Lessor to Lessee.

6. DEFAULT.

If Lessee fails to make weekly lease payments as required under item 3, or if Lessee fails to perform in any manner under the terms of this lease, the lease will be breeched. Lessor then has the right to do any or all of the following without giving notice to Lessee except as otherwise required by law:

(i)
take any reasonable measures to correct the default or to save Lessor from loss, in which case Lessee will immediately pay for the cost and expenses incurred;

(ii)

terminate this Lease and Lessee’s rights to possess the Vehicle with or without court action

(iii)
take possession of the Vehicle by any peaceable method or manner permitted by law, with or without

(iv)
charge Lessee the amount stated in Section 8. In the event Lessor retains a solicitor to correct the default or collect other sums due to the Lessor, Lessee agrees to pay all reasonable solicitor fee and other collection costs.

 

7. ODOMETER READINGS.

 

Lessee agrees not to tamper with or disable the odometer of the Vehicle during the term of the Lease and to notify
Lessor immediately upon the failure of the odometer during the Lease Term.

8. INSURANCE.

While the Vehicle are in the possession or control of Lessee, Lessee has the option to take on Lessor’s Fleet Insurance Policy for an additional fee or shall be responsible for his own Private Hire Insurance, including providing evidence of insurance both prior to the transfer of Vehicle to Lessee under this Lease and prior to the insurance policy expiration date.

 

9. ASSIGNMENT.

 

Lessee may not assign or transfer any of its rights or obligations under this Lease, or sublet the Vehicle to another
party, without prior written consent of the Lessor.

 

10. TERMINATION OF LEASE.

 

Termination of this lease shall only occur in conjunction with termination of the Vehicle Lease Agreement with 1 month minimum notice. Lessee must return the Vehicle to Lessor at Sunshine Ventures UKBD Ltd ( T/A Sunshine Automobiles), 3rd Floor, 4 Greenland Place, Camden, London, NW1 0AP on or before the expiration or termination of this lease.

 

11. GENERAL PROVISIONS.

 

Lessee will pay all amounts due under this Lease. If Lessor waive or delays enforcing any rights under this Lease, it will not affect their ability to enforce those rights afterward. Notices by Lessee under this Lease, must be in writing, properly addressed, and posted via Royal Mail at Sunshine Ventures UKBD Ltd ( T/A Sunshine Automobiles), 3rd Floor, 4 Greenland Place, Camden, London, NW1 0AP; certified return receipt requested and will be effective upon receipt. This Lease shall constitute the entire agreement between the parties and may not be changed except by a formal instrument in writing, signed by both parties.

 

12. WARRANTIES.

 

Lessee acknowledges that Lessor is not the manufacturer, the agent of the manufacturer, or the distributor of the Vehicle hereunder. Lessor makes no warranty of the representation, express or implied, as to the fitness, safeness, design, merchantability, condition, quality, capacity, or workmanship of the Vehicle nor any warranty that the Vehicle will satisfy the requirements of any law or contract specification, and as between Lessor and Lessee, Lessee agrees to bear all such risks at its sole risk and expense. Lessee specifically waives its rights to make claim against Lessor and Vehicle for breach or any warranty of any kind whatsoever and as to Lessor, Lessee leases the Vehicle (Exhibit A) “as is.” In no event shall Lessor be liable for special, incidental, or consequential damages whatsoever or howsoever caused, provided that the damage did not result from the defective condition of any vehicle or equipment, which was known to Lessor and which Lessor failed to disclose to, or concealed from, Lessee.

 

13. LESSEE’S WARRANTIES.

 

Lessee warrants that:

A.
Lessee is and shall at all times hereafter be duly organised, validly existing and in good standing under the laws of United Kingdom and it has duly authorised the execution, delivery and performance of this Lease Agreement;

B.
This Lease Agreement has been duly and validly executed and delivered by Lessee and constitutes the valid and
binding obligation of the Lessee and;

C.
All financial statements presented to Lessor have been prepared in conformity with generally accepted accounting principals consistently applied and fairly and accurately present Lessee’s financial condition and income as of the date given and since the d ate of such financial statements there has been no material adverse change in the financial condition of Lessee or any guarantor of Lessee’s obligations hereunder.

 

14. FORCE MAJOR AND NO CONSEQUENTIAL DAMAGES.

 

Lessor shall not be liable for any failure or delay in delivery and Leased Vehicle ordered for lease pursuant to this Lease Agreement, or for any failure to perform any provision thereof, resulting from fire or other casualty, riot, strike or other labor difficulty, governmental regulation or restriction or any cause beyond Lessor’s control. In no event shall Lessor be liable for any inconveniences, loss of profit, or any other consequential, incidental or special damages resulting form any defect in or any theft, damage, loss, or failure of any asset, and there shall not be any abatement or set off of monthly lease charges because of the same, provided that defect or damage to the asset was not disclosed to Lessee by Lessor, despite Lessor’s knowledge of the defect or damage.

 

15. SECURITY INTEREST.

 

In the event that any court determines that this Lease is not a true lease, then Lessee hereby grants Lessor the
security interest in the Leased Vehicle and this Lease Agreement, together will all accessions, replacements and
substitutions therefore or thereto and proceeds thereof. Lessor is authorised to file this Lease Agreement or any
financing statements with respect to this Lease Agreement or the Leased Vehicle. Lessee authorises Lessor to insert in this Lease Agreement the vehicle identification number, tracker, other identification data of the Leased Vehicle when determined by Lessor and dates or other unintentionally omitted non-substantive items to render this Lease Agreement complete. Lessee agrees to execute and deliver any statement or instrument requested by Lessor for such purpose, and agrees to pay or reimburse Lessor for any searches, filings, recordings or taxes arising from the filing or recording of any such instrument or statement.

 

18. INDEMNIFICATION.

 

Lessee of Vehicle (see Exhibit A) agree to indemnify, defend and save harmless the other party and the other party’s officers, agents, and employees, from and against any and all claims and losses whatsoever arising out of, or in any way related to, the indemnifying party’s performance under this contract, including, but not limited to, claims for property damage, personal injury, death, and any legal expenses (such as solicitor’s fee, court costs, investigation cost, and expert’s fees) incurred by the indemnity in connection with such claims or looses during the Lease Term. A party’s “performance” includes the party’s action or inaction and the action or inaction of that party’s representatives.

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