Lease Agreement

Lease agreement This agreement of lease is made at Hyderabad between. M/S Thar Minerals Processing Enterprise (Pvt.) Limited. Mirpurkhas through its Chief Executive Mr. Qazi Abdul Quddoos S/o Qazi @wali Muhammad Rajar, Adult Muslim, R/o Hyderabad hereinafter called the lessor the Party of the first part which expression shall include it’s successors, and assigned etc. Where as the party of the first part is a private limited company incorporated on 10 th Sept 1983, vide registration No. K – 7611 of 1983 / 84. And where as the party of the first part is the owner of the china clay Mineral processing Plant at Ring Road Mirpurkhas. And where as the part of the first part has agreed to lease out and the party of the second Part has agreed to take on lease the aforesaid Mineral Processing Plant on the following terms and conditions. a)

That the lease money will be Rs. 175000/- (Rupees One Lac Seventy Five Thousand Only) for the Period of one year commencing from 01-07-2008 to 30-06-2009 the lease will be extendable to the convenience of both the parties.

b)

That party of the second part shall be bound to run the plant for the above said period and to pay the lease money the party of the first part shall be bound to allow the party of the second part to run the plant on fulfillment of all the conditions and payment of lease money.

c)

That the lease money for the year 2008 – 2009 total Rs. 175000/- (Rupees One Lac Seventy Five Thousand Only) in cash has been paid by the party of the second part to the party of the first part advance which the party of the first part do hereby acknowledge.

d)

That the party of the second part shall look after of the plant for lease period.

e)

That the cost of repairs below Rs. 10000/- (Rupees Ten Thousand Only) shall be born by the party of The second part and all repairs over and above the said amount shall be born by the party of first part in the consultation and on production of original bill.

f)

That for the purpose of this agreement and during the period of this agreement the party of the first part being the owner mine lease in respect of China clay shall allow the party of the second part of the extract raw material for the purpose of production on its won expenses and shall also be bound to make necessary payment of royalty and other relevant taxes payable to the Government on behalf of the party of the first party.

g)

That party of the second part shall return the peaceful possession of plant on 30-06-2009 in the good conditions.

h)

That party of the first part shall appoint it’s own watchman for adequate security of the plant.

i)

That in case of liquidation / dissolution of the company the period of the lease agreement shall accordingly be curtained up to the period of liquidation / dissolution.

j)

That in case of any dispute which may arise between both the parties the matter shall be referred and decided through the process of arbitration.

In witness where of the parties named above shown their respective hand on 12th July 2008.

PARTY OF THE FIRST PART

PARTY OF THE SECOND PARTY

(Qazi Abdul Quddoos S/o Qazi Wali Muhammad Rajar)

(Abdul Qadir S/o Ghulam Hyder Rajar)

Witnesses

1.

(Mr. Qadir Bux S/o Allah Bux)

2.

(Mr. Salamat Ali S/o Ghulam Hyder)