HEADS OF TERMS — RENEWAL OF COMMERCIAL LEASE
1. Parties
Landlord: SCI Exemple Immobilier
Tenant: Atelier Verlaine SAS, a company registered in Paris, represented by its president.
2. Premises
Ground-floor retail unit and basement storage in the fictional Résidence des Tilleuls, approximately 148 m², as described in the original lease dated 1 March 2015.
3. Term
A renewed term of nine (9) years from 1 March 2025, with the tenant's right to terminate at the end of each three-year period on six months' notice.
4. Rent
Initial annual rent of €96,000 excluding tax and service charges, payable quarterly in advance, indexed annually on the commercial rent index published by the national statistics office.
5. Rent-free period
Three (3) months from the start date, in consideration of the tenant's refurbishment works described in Schedule 2.
6. Repairs
Structural repairs remain with the landlord. The tenant carries out internal repairs and maintenance, subject to the schedule of condition annexed to the renewal.
7. Assignment and subletting
Assignment permitted only together with the business, with the landlord's prior written consent, not to be unreasonably withheld. Subletting prohibited.