I

H.M. L.4NE> REGISTRY

LE.ASEt40LO TtTLE REGllTiRED TITLE NUM8'£tfS~L\i i~s \

,-------·- ----IN/OUT

B:i~c.---·:s; I -----··-LEASES m.;;iy - ----- ..... __ DEl:OS·S-::M:::>:;L

"Fi?~i\:0.";;i.C'ONi!°?oL -· r-c:n:.;~'\NZL -..._

G~A'-'cJi.To"?>·: iµ 1 l£TTING PLAN , ........_

\i.E.

LYDFORD ESTATES LIMIT~

- to -

NATIONAL wESTMINSTER BANK LIMITED

. r

"f .,.. .. -:~

~~.~@~ ~ CRO\JN LANE MORDEN in tbe !.QJ\']lON l~OROUGH Of tt~

'l',l;;RM FRQl'l 25th Mu re h

FOR YEAR.$_

EXPIRES 24th March

·19n 99

2072

Rfil-'T £2250 per annum (subject to re-Vision after nine years) and each subse~uent period of seven years

0~

\ .J , --------- - - - - - -

...

'<' 1) --~\ .. :\.' .. r\,

rP"Rtoum ~ ~~:~~~ H

17 ·12· n ~ 0 8 2 7 I L..!_NLANO REVENU:_j

made the /["'~, ~ day

One thousand

seventy three B E T W E E N LYDFORD ESTATES LIMITED

whose registered office is at warren Court Euston Road London N.W .1.

(nereinafter called "the Landlord" which expression shall where the

context so admit s include the person for the time being entitled to

the reversion immediately expectant on the determination of the term

hereby created) of the one part .NATIONAL WESTMINSTER BANK L~MI~E~.

whose registered office is at 41 Lothbury in the City of London

(hereinafter called "the renant" which expression where the context

so admits shall include its successors in title and permitted assigns)

of the other part

W H E R EA S : - ·-·- --- ----------(1) _ay a Lease dated the Twenty second day of August One thousand

nine hundred and siXty and made between the Landlord of the one part

and the Tenant (then known as ~/estminster Bank Limited) of the other

part (hereinafter called ''the old Lease") The premises therein

described were demised to the Tenant for the term of Forty two years·­

from the Twenty fifth day of March One thousand nine hundred and

sixty at the yearly =ent therein mentioned and subject to the

covenants on the part of the Tenant and of the Landlord and to the

condi tioni therein contained - -- ---· ·- ----( 2) It has been agreed between the parties hereto that the said term

of Forty two years shall be surrendered and that a term of Ninety nine

years shall be granted to the Tenant in substitution therefor in

manner hereafter appearing

W I T N E S S E T H as follows :-

1 . <.:1.L._IN consideration of the surrender by the Tenant to the Landlord

of the old Lease and in further consideration of the rents and the

Tenant ' s covenants hereinafter reserved and contained the Landlord

HEREBY DEMISES unto t~e Tenant ALL T~OSE the premises more

particularly described in the First Schedule hereto (hereinafter

called "the demised premises") TO HOLD the same unto the Tenant for

the term of NIJ'!E~l~t.'E TI~ from the Twenty fifth day of March

One thousand nine hundred and seventy three (hereinafter called "the

said term") subject nevertheless to all rights and easements or

reputed casements app~rta1ning to any of the a4Jacent or neighbouring

property which may be necessary or convenient for the enjoyment

L

I·

-- . I

~ l

l : I

I

I l I

I - I

I - -- -----------------

·.

thereof YIELDING AND PAYING therefor the jearly rent of TWO THOUSAND

TWO HUNDRED AND FIFTY POUNDS (£2 , 250) (subject to increase as

after provided) And t he said rents shall in all cases be paid

without any deduction (except for tax authorised by statute to be

deducted) by equal quarterly payments in advance on the usual quarter

days in every year tte first of such payments being a proportionate

part for the period from the Twenty fourth day of June one thousand

nine hundred and seventy three to the Twenty eight day of September

one thousand nine hundred and seventy three having been made on the

execution hereof

2;:_'~-1+-~~--'T::::HE Tenant HEPEBY COVENANTS with the Landlord as follows :­

(1) to pay the rents reserved at the times and in manner aforesaid

without any deductior: or abatement whatsoever (except as aforesaid)

(2) To pay (or in the absence of direct assessment on the demised

premises to repay to the Landlord a fair proportion of) all existing ·I and future rates taxes impositions assessments and outgoings payable

by law in respect of the demised premises whether by the owne~

occupier thereof including \~i thout prejudice to the generality of

the foregoing all present a~~e payments for w~s under any .,. '"..i:.·-c...-

Act or Acts of Parliament concerning buildings sewerage drainage the

publ ic hP.alth or any other public or local purposes (except tax

authorised by statute to be deducted)

(3) At all times during the said term to keep the demised p'rell[ises

and every part thereof and all additions thereto and the Landlord ' s

fixtures and fittings thereon (including all windows window frames

doors door frames plate glass and fibreglass) and the pipes and

sanitary and water apparatus thereof in good and substantial and

decorative repair and condition notwithstanding that such repairs or

any renewals may be necessitated by original or inherent defect

(with the same effect as if the interest in the demised premises of

the Tenant under these presents had commenced from the date of the

commencement of the term granted by the ol d Lease) ~~~~~~~~~~

(4) To paint with tiree coats of good quality paint in a proper and

workmanlike manner all the wood iron and other parts of the demised

premises heretofore or usually painted as to the external work in

every third year and in the l ast year or on sooner determination

(howsoever det~rmined) of the said term and as to the internal work

in every seventh year and in the last year or on sooner determination

(howsoever determined) of the said term and after every external

.,

THOUSAND

s herein

d

o be l I ~

quarter 1

ionate

:>us and

tember

)n the

lWS :-

~esaid

isaid)

iised

:is ting

>ayable ·----­.or _...... · of

any

~e the

lC

imes

ld

rs or

the

r ·and

lsed

(n

1

'10rk

:iation

l.

J

painting to grain polish varnish and colo.ur the external parts of

the demised premises usually so treated and after every internal

painting to grain polish varnish distemper wash atop whiten and

colour all such parts as are usually so treated and to repaper the

parts usually papered with suitable paper of good quality

(5) To pay a fair proportion (to be determined by the surveyor for

the time being of the Landlord such determination to be final and

binding on the parties hereto) of the expenses payable in respect of

constructing repairing rebuilding and cleansing and in all ways what­

soever maintaining all party walls fences sewers drains channels

sanitary apparatus pipes wires passageways stairways roofs roads ways

pavements land and all other things the use of which is common to the . and 't:o !JIJY adjoiniiig or ne.ighbouring !)re'llises

demised premises;~~~~~~~~~~~~~~~~~~~~~~~~~~~

(6) (a) Not without the previous consent in writing of the Landlord

to pull down cut alter or injure any of the main walls foundations

footings main tinbers or external appearance or floors or ceilings

of the demiood promises or make any additious thereto or sutrer any

waste spoil or destruction in or upon the demised premises nor alter

or in any manner interfere with the internal arrangement or constructio

of the demised premises or install a shopfrontor shop fittings at t he

demised premises And to carry out any work to which t he Landlord cay

consent hereunder in a good and ~orkmanlike manner with good and

substantial materials and to the satisfaction of the Landlord in

accordance with plans elevations sections and specifications previously

approved in writing by the Landlord's Architect or surveyor for the

time being and to pay the fees of such Archi tect or Surveyor in

relation thereto And at the expense of the Tenant to remove any s~ch

erections additions or alterations made without such previous consent

in writing of the Landlord or in respect of which the permission of

the appropriate Planning Authority is withdrawn or lapses and at the

expense of the Te~ant to comply with every order of such authority

requiring the removal or demolition of or other work in connection

with such erections additions or alterations and in all such cases

the Tenant will at its own expense make good all damage caused by such

removal demolition or other work and restore all parts of the demised

premises affected thereby to a state of good repair and condition~

(b) Not to do anything which may in any manner weaken the structur

of the demised premises or which may depreciate the letting value of

the demised premises or at any time block up darken obstruct or obscure

I

I I

.1 'I

any external doorway ~assage windows light grating or opening

belonging to the demiEed premises or permit any new window light

opening or other encroachment or easement to be made into against

or upon the demised premises or anything which may be or grow to the

damage annoyance or inconvenience of the Landlord and will at the

request of the Landlord adopt such means as may in the opinion of the

Landlord be expedient for preventing any such encroachment or the

acquisition of any such easement on or over the demised premises ~~~--ij .... ~ (7) (a) To permit the Landlord and its agents with or without work-

men and others twice a year at reasonable times in the daytime upon

notice to enter upon and view the condition and state of repair of

the demised premises and thereupon the Landlord may serve upon the

Tenant notice in writing specifying any repairs and works necessary·,

to be done and for which the Tenant is liable and require the Tenant

within three months or sooner if requisite to execute the same ~

if the Tenant shall not within one month after service of such

notice proceed diligently with the execution of such repairs and

complete the same within the space of three calendar months from

the date of the noti ce or sooner if requisite then to permit the

Landlord to enter upon the demised premises and execute such repairs

and works and the cost thereof shall be a debt due from the Tenant

to the Landlord and be forthwith recoverable by action

(b) To permit the Landlord or its agents or workmen and also

the tenants or occupiers of any adjoining or neighbouring premises

at any time during the said term at reasonable hours in the daytime

to enter upon the demised premises for the purpose of executing works

to or upon such adjoining or neighbouring premises

) (a) Not to assign part only of the demised premises

(b) Not to underlet or part with the possession of the demised

premises or any part •hereof nor assign the demised premises as a

whol e without the wri•ten consent of the Landlord (such consent not

to be unreasonably wi•hheld) PROVIDED ALWAYS that the Landlord may

as a condition of such consent to an assignment of the whole of the

demised premises requi re the proposed assignee to enter into direct

covenants with the Landlord to perform and observe all the covenants

on the Tenant's part herein contained and non compliance with such

condition shall be deemed to be a reasonable ground for refusing

such consent notwithstanding the respectability and financial

responsibility of the proposed assignee

t

st

o the

he

of the

he

work-

upon

Of

the

..._ ,,.. :a - --­t·

Ill

;>airs

int

90

aes

~ime

works

sed

a

not

may

the

ect

ants

ch

(9) Within one month of every assignment assent charge transfer or

underlease or assignment of underlease of or relating to the demised

premises or any part thereof to give notice thereof in writing with

particulars thereof to the Solicitors for the time being of the

Landlord and produce to them such assignment assent charge transfer

or underlease or in tbe case of a devolution of the interest of the

Tenant not perfected by an assent within twelve months of the happenin

thereof to produce to the said Solicitors the Probate of the Will or

Letters of Administration -under which such devolution arises and to

pay them a registration fee of Four pounds in respect of each such

assignment asse~t charge transfer underlease or devolution

(10) (a) To pay all expenses (including Solicitors' costs and

Surveyors• fees) incurred by the Landlord or any Superior Landlord

incidental to or in contemplation of the preparation and service of

a notice of proceedings under sections 14-6 and 147 of the Law of

Property Act 1925 notwithstanding forfeiture is avoided otherwise

than by relief granted by the Court or incidental to the preparation

ano. aerv1ce or a schedule o:C Dilap.idatiom; at the end or the :;aid

term (howsoever determined) ~~~~~~~~~~~~~~~~~--~~~~!

(b) In the event of the Tenant committing any breach of any

covenant contained in this Lease whether for the payment of rent or

otherwise whatsoever or Of the Tenant applying to the Landlord for an

consent or licence required by the Tenant then if the Landlord shall

incur any costs charges and expenses including Solicitors• costs and

surveyors • charges to indemnify the Landlord in respect thereof ~~­

(11) (a) Not to use or permit or suffer the demised premises to be

used for any illegal or immoral purpose or for betting gaming or

wagering or for any offensive trade or business or for the sale of

alcohol and not to use or permit. or suffer to be used the demised

premises or any part thereof otherwise than as to the ground floor

for the Tenants business of a Bank and as to the upper part as

offices (except with the previous written consent of the Landlord

such consent not to be unreasonably withheld) such business to be

conducted in a proper and orderly manner and in accordance with all

statutory requirements applicable thereto and not to reside or sleep

on the demised premises or any part thereof or permit or suffer any

person to reside or sleep thereon

(b) To ensure at all times during the said term that tbe

demised premises shall be open for business at all times during

" I

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I.

normal banking or shopping hours for the locality (public and bank

holidays excepted )------------------ --- -----11

(12) (a) Not to do or permit or suffer anything in or upon the

demised premises or any part thereof which may be or become a

nuisance annoyance or cause damage or inconvenience to the Landlord

or the Tenants of the Landlord or the tenants or occupiers of other

property in ~he neighbourhood or which may render the Landlord or the·

Tenant liable to any notice under any PUblic Health Act for the time

being in force or for any purpose or in any way which would constitute

a breach of any of the provisions of any private or public Act or

Acts of Parliament for the time being in force or any regulations

or bye-laws made thereunder or by any competent public or local

authority whether affecting the Landlord or any of its present or

future proper ty (including the aemised premises) or which may be in

any way calculated to injure any such property or do or suffer any

other thing which may render any increased or extra premium payable

for the insurance of any present or future buildings of the Landlord

adjoining or near to the demised premises against loss or damage by

fire or which may ma~e void or voidable any policy for such insurance ...... ~

or for any insurance of the demised premises and if at any time

during the said term anything shall be done upon the demised premises

which shall cause the premium to be charged by any insurance office

to exceed the average current rate for the time being in force to

give notice thereof unto the Landlord and also to pay the extra

premium so to be cha~ged as aforesaid for the insurance of such

present or future buildings of the Landlord adjoining or ~ear to

the demi~ed pr emises as aforesaid --·-- ---- - ---- ------11

(b) Withi n seven days after the service upon the Tenant of

any notice proposal or requirement or order made or served under

any statute or- statutory regulation or any statutory modification

.or re- enactment thereof and any regulation made thereunder forthwith

to supply a true copy thereof to the Landlord and to join with the

Landlord (if the Landlord deems it necessary) in raising any

objections to the same and taking such action as may be deemed

appropriate ----·~----------------------------' (122_. Not to affix or exhibit or to permit or suffer to be aff1Jte4

or exhibited to or upon the external walls windows or other external

parts of the demised premises any name flag placard sign poster

signboard nameplate sunblind (for advertising pu.rposes ohly) or

i bank

;he

mdlora

· other

.he time

onstitute

t or

ions

al

t or

· be in

r any

ayable

and lord

;i.ge by ·-

isurance ••If >remises ,

>ffice

I to

b

to

.on

;hwith

the

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~===#=======================================ii====:=;~

advertisement whatsoever without the pri or consent in writing of the

Landlord PROVIDED however that so long only as the Tenant (here

meaning National Westminster Bank Limited and not any permitted

assignee) shall remain in occupation of the demised premises the

Tenant shall without further authority be permi tted (so far as the

statutory ·provisions and regulations and local bye-laws and

regulations allow) to display on the windows of the demised premises

the wortling ordinaril y displayed by the Tenant in respect of its

banking business and to affix on the outer wal l of the demised premise

a bracket or hanging sign projecting into Crown Lane in the form

usually displayeJ by the Tenant and also to affix to the outside of

the demised premises a fascia board inscribed with the name of the

Tenant on le ttering appli ed direct to the ~ascia

(14) Not to hans place deposit or expose outside the shop porticns

of the demised premises any goods articles or thi~gs for sale or

otherwise and not to hold or permit to be held any sale by auction on

the demised premises

(15) To keep the demised premises (including the plate glass windows)

insured at all times during the said term in the joint names of the

Landlord and the Tenant aga inst any loss or damage by fire in the full

value thereof and against such other risks normally covered by a

Comprehensive Policy as the Landlord~ thini3necessary (incl uding

Architects and surveyors fees and t wo years loss of r ent) and to make

all payments necessary for the above purposes within seven days

after the same shall become due and to produce to the Landlordt or

its agent on demand the Policy of such insurance or a full and

sufficient extract therefrom or certificate thereof and will apply

all moneys received by virtue of any such insurance in rebuilding

and reinstating the premises to the satisfaction of the Landlord•

surveyors but the Tenant shall nevertheless remain liable under the

general covenant to repair hereinbefore contai ned to make good any

damage which the money received by virtue of any such insurance shall

be inadequate to repair and/or reinstate PROVIDED ALWAYS that if

t he Tenant shall at any time fail t o keep the demised premises insured

as aforesaid the Landlord may do all things necessary to effect or

maintain such insurance and any moneys expended by it fo r that purpose

shall be repayable by the Tenant on demand and be recoverable forth-

(16) In relation to t he Town and country Planni ng Act s 1962 to 1971

I

I li ii 11

l I

1 I I

i I

and any existing or future Act or enactment modifying or re- enacting

or for similar purposes to those Acts and any rules regulations

orders and directions made or given thereunder all of which are

hereinafter referred to collectively as "the Planning Acts" (an

application for permission consent or approval under such Acts being

hereinafter referred to as a "planning application" and "development"

having the meaning assigned thereto in section 12 of the Town and

Country Planning Act 1962 or that meaning as it may be amended o~

re- enacted from time to time or any meaning from time to time substi";u

for that meaning):

(a) At all times during the subsistence of this tenancy to

comply with all requirements of or having validity under the

planning Acts and forthwith upon the receipt of any Notice or

Order or any proposal for the same from a Planning Authority

or Statutory Authority to give full particul ars thereof to

the Landlord and if required to produce such Notice Order or

proposal to the Landlord and at the request and cost of the

Landlord to make or join with the Landlord in making such

objections or representations against or in respect of any

Notice Order or proposal that the Landlord shall deem expedient

(b) Not witbout the previous written consent of the Landlord

to make any pl anning application for development or carry out

or cause to be carried out any development on the demised

premises

(c) Except in so far as the Tenant cannot lawtully contract to

do so to pay tile whole amount of any levy charge or imposition

assessed or imposed in respect of any development of the demised ·

premises or any permission consent or approval for such develop­

ment the payment to be so made as to ensure that no part thereof

shall become or remain longer than is avoidable recoverable from

any person other than the Tenant or charged or chargeable upon

any interest in the demised premises other than that of the

Tenant

(d) Not without the consent in writing of

any step which would involve any person or interest in liabilit

to any levy charge or imposition as mentioned in sub-clause (c)

hereof

(e) If called upon in writing by the Landlord to do so £orth­

with to complete any development in respect of which a liability

icting

3

being

ipment"

ind

or

;ubsti tut

to

the

:e or

'ity

;o

•or

y

edient

lord

out

lCt to

.tion

emised

velop­

hereof

e from

upon

9

1:ake

lili ty

I (c)

·th­

ility

to levy charge or imposition as specified in sub-cluase (c)

hereof has fallen or may fall to be borne by any person other

than the ~enant or has or may become charged or chargeable on

any interest other than that of the Tenant

(f) Unless the Landlord otherwise directs in writing to carry

out before the end of the tenancy hereby granted (disregarding

any statutory continuation thereof) any works required to be

carried out to the demised premises on or by a date subsequent

thereto by reason of any l imitation or condition imposed by a

planning :permission consent or approval i .mplemented by or by

a person deriving title through or under or acting on behalf

of the Tenant or if the work cannot lawfully be done before the

end of the tenancy as aforesaid to pay to the Landlord t he

estimated cost of carrying it out provided that if application

to court bas been made for a new tenancy under Part II of the

Landlord and Tenant Act .1954 this sub-c lause shall apply to

the date on which the tenancy as continued under the Act comes

to an end~~~~~~~~~~~~~~~~~~~~--~~~~

(g) To produce to the Landlord or its agent when required in

writing tc do so all such drawings documents and other evidence

that the frovisions of this covenant have been complied with as

either of them may require ·-

(17) (i) To execute all such works relating to the demised premises

as are or may under or in pursuance of the Office. Shops and

Railway Premises Act 1963 the Shops Acts the Factories Acts or

any other Act or Acts of Parliament already or hereafter to be

passed or under any bye-law regulation or order of any

competent authority be directed to be done or required by

any County Council or other local or public or TOwn Planning

Authority to be executed at any time during the said term upon

or in respect of the demised premises whether by the Landlord

or Tenant thereof or at the option of the Landlord to pay a

fair 9roportion (to be conclusively determined in the event of

dispute by the Landlord 's Surveyor) of the cost of execu~ing

all such works aa aforesaid to any building or part of any

building of which the demised premises form part

(2:il_At all times hereafter to indemnify the Landlord from and

against all actions proceedings coats losses expenses claims

and deman6s arising out of any failure by the Tenant to observe

or perform any of its obligations under these presents in

relation to the Planning Acts and non-compliance with all

matters r eferr ed to in sub-clause (i) hereof ~~~~~~---~11

(18) To permit the Landlord during the six months immediately

preceding the determination of the term hereby granted (however

determined) to affix and retain without interference upon any part

of the demised premises above the ground floor fascia but not so as

to obscure any windows of the demised premises a notice for reletting,-'llll .. ,

the same and during the said six months and at any time during the

said term in the event of the Landlord wishing to sell or otherwise

deal with its reversion to permit persons with written authority

from the Landlord or its agents at reasonable times of the day to

view the demised premises by p~ior appointment

(19) To permit the Landlord or its surveyors or Agents at any

reasonable time or times during the last six months of the said

term to enter the demised premises or any part thereof during

reasonable hours in the daytime by prior appointment and to take

schedules or inventories of the fixtures and things to be yielded

up at the expiration of sooner determination of the said term ~~~~

(20) To yield up the demised premises with all Landlord's fixtures

and ad<li t ions thereto and the pipes and water and sanitary apparatus

thereof at the determination of the term hereby granted in good

and substantial and decorative repair and condition in accordance

with the covenants hereinbefore contained ~--~--~--~~~--11

(21) Not to give any bill of sale or other preferential security on

the stock-in-trade or personal chattels of the Tenant which shall

for the time being be on or about the demised premises except as

part of a charge by the Tenant (here meaning National Westminster

Bank Limited) generally

(22) To pay the Landlord's Solicitors ' scale costs and

disbursements in connection with the preparation and completion

of this Lease and a Counterpart thereof and the stamping of such

counterpart ·- -·-· .. ·------ ·- - ·-· ·---··---(2~) To indemnify and keep indemnified the.Landl ord from liability

in respect of any injury to or the death of any person damage to

any property movable or immovable the infringement disturbance or

destruction of any right easement or privilege or otherwise by

reason of or arising directly or indirectly out of the repair state

0f repair condition or any alteration to or to the user hereinbefore

in

ill

Ly

rer

r part

so as

•ity

1y to

lded

Jaratus

•d

nee

ity on

ill

18

:er

.ity

r

a t e

fore

I

permitted of the demised premises and from all proceedings costs

claims and demands of whatsoever nature in respect of any such

~iability or alleged liability

(24) To be resp,nsible for and to indemnify the Landlord against all

damage occasioned to the demised premises or any adjacent or neigh­

bouring premises or to any person caused by any act default or neglige e

of the Tenant or the servants agents licensees or invitees of the

(25) so far as the same are still subsisting and e.ffect the demised

premises and are capabl e of being enforced to observe t he stipulat ions

and restrictions contained in a Conveyance dated 'the Twenty first day

of December One thousand nine hundred and twenty five and made between

The Housing & Land Development Corporation Limited (Vendors) of the

one part and Bertie Gr~am Evans (Purchaser) of the other part a copy

of the said stipulat ions and restrictions is set out in the second

Schedule hereto

(26) Not wi'thout tl.J.tt Landlord ' s previoue consent in writing (which

shall not be unreasonaly withheld) to erect fix or fasten or permit

to be erected fixed or fastened in upon or over the outside of t be

demised premises any post wire work or apparatus for the purpose of

telegraphic (including wireless telegraphy) or telephonic communicatio

(other than a FOst Office Telephone for the use of the Tenant or the

supply of electric light or electric power) nor without the like

consent to erect place or set up or permit to be erected placed or

set up on any part of t he demised pr emises any steam engine gas

engine or electrical engi ne or machinery of any kind o t her t ha.n usual

office machinery

~3-·_-tt--___ T_H_E_ Landlord HEREBY COVENANTS with the Tenant t hat the

4 .

Tenant paying tte rent hereby reserved and performing and observing

the several covenants on i-t• part herein contained shall peaceably

hold and enjoy t he demised premises during t he said term without any

interruption by the Landlord or any person rightfully claiming under

or in trust for the Landlord

PROVIDED ~LWAYS AND IT IS HEREBY AGREED that if the rent

hereby reserved or any part thereof shall at any time be unpaid for

fourteen days aft er becoming payable (whether formally demanded or not

or if any covenant on t he Tenant's part herein cont ained shall no~ be

performed or observed or if the Tenant (being a Company) shall en~er

into liquidation whether compulsory or voluntary (save for the purpose

5.

or if the Tenant shall change its s tatus from limited to unlimited

or vice versa or if the Tenant shall make any composition or enter

into any arrangement with its creditors or permit any execution to

be levied on the demised premises or if the Tenant (not being a

Company) shall become bankrupt then and in any of the said cases

it shall be lawful tor the Landlord at any time thereafter to

re-enter upon the demised premises or any part thereof in the name

of the whole and thereupon this dem.ise shall absolutely determine

but without prejudice to any right of action of the Landlord in

respect of any breach of the Tenant's covenants herein contained

1 PROVIDED ALWAYS AND IT IS HEREBY FURTHER AGREED that the rent

bereinbefore reserved from and after the expirati on of the following

periods (a) The first nine years of the term hereby granted and

(b) every subsequent period of seven years of the said term (the

date of the expiration of each of such periods being hereinafter

referred to as a "review date") shall be calculated as follows :-

(i) From and after the first review date the said rent of

Two thousand two huncred and fifty pounds shall be increased to the

open market rack rent at the first review date of the demised premises )

(ii) From and after each subsequent review date the rent then

payable her eunder sh~ll be increased to the open market rack rent of

the demised premises at that subsequent review date PROVIDED ALWAYS

"""''°' that (1) in no event shall the Arent payable by the Tenant after the

first review date be less t han Two thousand two hundred and fifty

pounds or after any subsequent review date be less than the rent

payable by the Tenant immediately before such date and (2) if upon

any review date the Landlord shall be obliged legally or otherwise

to comply with any enactment (which expression shall include any

Act of parliament now or be:aafter in force and any instrument

regulation or order made thereunder or deriving validity therefrom)

dealing with the control of rent and which shall restrict or modify

the Landlord ' s right to receive an increased rent in accordance wi th

the terms of these presents then the Landlord shall on each occasion

that any such enactment is removed relaxed or modified be entitled

on giving not less t han seven days notice in writing to the Tenant

expiring after the date of each such removal relaxation or modificatio

to introduce an intermediate review date (hereinafter called an

"intermediate review date") which shall be the date of expiration

of such no tice and the rent payable hereunder from an intermediate

mited

enter

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name

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e rent

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review date to the next review date or the expiration of the said

term whichever shall first occur shall be determined in like manner

as if such intermediate review date were a review date

(iii) A memorandum of the rent payable hereunder from time to

time shall be endorsed hereon forthwith after the same has been

agreed or determined in accordance with the provisions hereof~~~-11

~he said open market rack rent shall be the amount which

shall be agreed between the Landlord and the Tenant to be the best

annual rent for the time being obtainable as between a willing

Landlord and a willing tenant in respect of the demised premises on

a letting thereof as a whole with 'f&Cant possession but upon the

supposition (if not a fact) that the Tenant has complied with all

the obligations as to repair and decoration and for compliance with

statutory requireme.nts herein imposed on the Tenant (but without

prejudice to any rights or remedies of the Landlord in regard

thereto) for a t erm of seven years AND SUBJECT to similar

covenHnts and conditions ~o those contained in thie Leaee but

ignoring any goodwill value attaching to the Tenant's business

(3) In the event of the Landlord and the Tenant failing to agree

the open market rack rent as aforesaid within three months before

the commencement of any period of years for which for the purposes

of this clause it is required to be ascertained then the question

shall as soon as practicable and at the joint expense of the parties

be referred to the decision of a Surveyor practising in or having

knowledge of rental values in the area in which the demised premises

are situate to be mutually agreed by the Landlord and the Tenant

or in default of agreement to be nominated by the President for the

time being of The Royal Institution of Chartered Surveyo~and such

Surveyor whether agreed or nominated as aforesaid shall act as an

expert and not as an Arbitrator and his decision shall be binding

on both the Landlord and the Tenant and a memorandum of the said

open market rack rent shall be endorsed hereon forthwith after the

same bas been determined pursuant to this clause~~~~~~~~~~-11

(4) In the event of the decision of such independent surveyor not

having been published prior to such commencement as aforesaid for

any reason whatever then in respect of the period of time (herein­

after called "the said interval") beginning with such commencement

and ending on the quarter day immediately following the date on which

such determination shall have been published the Tenant shall pay

to the Landlord in manner hereinbefore provided rent at the yearly

rate payable immediately before such commencement PROVIDED that

at the expirat ion of the said interval there shall be due as a

debt payable by the Tenant to the Landlord on demand a sum of money

equal to t he amount whereby the yearly rent determined by such

independent Surveyor shall exceed the yearly rent at the yearly

rate aforesaid but duly apportioned on a daily basis in respect

of the said interval

6""""'". -tt----~N~O~T~H=I~N=G in this Lease contained s hall imply or warrant that

the demised premises may in accordance with all Town Planning Laws

and Regulations now or from time to time in force be used for the

purpose herein authorised

7. \JIIEREVER in this Lease t here is a covenant by the Tenant to ---#---------pay expend i ture expenses outgoings charges coets or any like

expression incurred by the Landlord all such expressions shall include !

all value added tax incurred by the Landlor4-J,n connection with

the subject matter of the covenant and this Lease shall be construed

accordingly

_8_._ -f+-____ TH __ I_S_ Deed shall incorporate the provisions as to notices

contained in section 196 of the Law of Property Act 1925

THE receipt of rent on the part of the Land lord shall not be _ __,H------a n d shall not be deemed to be a waiver of any of the covenants

provisions or conditions herein eontained and on the part of the

Tenant to be observed and performed

1 ~.~· -1+----=I~N- this Lease where the context so admits :-

(a) Words importing the neuter gender include the masculine and

feminine genders

(b) Words importing the singular number only inclUde the plural

number and vice versa and where t here are two or more persons

included in the expression "the Tenant" covenants expressed to

be made by t he Tenant shall be deemed to be made by such persons

jointly and severally

(c) Such of the division walls as divide the demised premises from

adjoining premises shall be deemed to be party walls or fences

and to belong in equal moieties (considered as divided

vertically down the middle throughout the whole length) to

the property on either side thereof

IN WITNESS whereof the Landlord and the Tenant have caused

1

I !

. pay

·early

:hat

a

money

h

ly

~t

;hat

Laws

the

to

. include

h

strued

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ns

to

rsons

'.'Om

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their respective common seals to be hereunto affixed the day and

year first above written

THE FIRST SCHEDULE before referred to

ALL THAT piece of land situate in the London Borough of Merton

on the North sice of a road there called crown Lane and having a

frontage thereto of Nineteen feet nine inches or thereabouts and a

depth therefrom on the Easterly side of One hundred and five feet

or thereabouts The south west corner of the said piece of land

being approximately one hundred and thirty seven feet from the centre

line of the road there called Windermere Avenue All which piece of

land with its dimensions (be the same little more or less) boundaries

and abuttals is more particularly delineated on the plan annexed

hereto and thereon coloured pink TOGETHER with the Building erected

upon the said piece of land known as ?IUlllber 4 Crown Lane Mord en

TOGETHER with the free passage and running of water and soil through

the channels sewers or drains now constructed and hereafter to be

constructed under the adjoining land into the main sewer TOGE1'HER

..AI§Q_ with the right at all times and for all purposes to go pass

and repass over and along the passageway coloured brown on the said ;,-·

plan to tbe road known as Windermere Avenue EXCEPT AND RESERVED

unto the Landlord and its Lessees and the adjoining owners the free

passage and running of water and soil gas and electricity coming or

to come from or to any other lands or buildings of the Landlord a~d

the adjoining owners in or through the channels drains sewers water­

courses pipes and wires belonging to or in on or under the said

premises or to be made thereto and ALSO EXCEPT AND RESERVING unto

the Landlord its lessees and assigns full right and liberty at all

times to build upon and develop all or any part of their remaining

lands or the buildings thereon in such manner (notwithstanding that

by building or otherwise they may interfere with any access of light

or air to the demised premises) as they may think fit

THE SECOND SCHEDULE above re..ferred to

Stipulations and Restrictions contained in Conveyance dated the Twenty first day of December One thousand nine hundred andtwent~ .(ive made bet'Neen he Rou_sing _& Land Development Corporation_ Limited then vendors of the one art and Bertie Graham Evans tllen Pure aser o t e o er

_1_·~~N_o building or other erection on the said land or any part

thereof shall be used for the carrying on of any noisy noxious or

offensive trade manufacture or business and except by the consent

of the vendors no hoarding or advertisement stations shall be

erected or placed on the said land or any part thereof No act deed

matter or thing shall be done permitted or suffered on the Land

or any part thereof which shall be of a noisy noxious or offensive

character No hut or shed adapted or intended for use as a

dwelling or sleeping apartment caravan house on wheels or other

like erection shall be placed or allowed to remain on the said land

2 . Before the erection of any buildings on the said land or any

part thereof plans and elevations thereof in duplicate shall be

submitted to and approved by the vendors ' Surveyors who will

retain the duplicate copy thereof and whose fee for such approval

(which shall not be unreasonably withheld) shall not exceed One

pound five pence for each building

.2.• The Purchaser shall duly erect and at all ~imes thereafter

maintain proper and suitable boundary fences or hedges to the said

land on the Side marked "T" on the said plan such fences or hedges

to be of a nature and design to be previously approved by the

vendors• surve7ors As and when a house or other building shall be

erected on any building plot the Purchaser shall erect and at all

times thereafter maintain the approved boundary fences or hedges

to such plot

4 . until the roads bounding the property are taken over by the

Local Authority the purchaser shall pay to the Vendors a proper

proportion according to his frontage (to be calculated by the

vendors• surveyors) of the expense or making repairing maintaining

and cleansing such roads the pavements thereto and the sewers and

drains thereunder

5. No gravel sand stone or other material of any description

shall at any time-be excavated or dug out of the land except for

the purpose of laying the foundations of a house or houses or

outbuildings to be erected thereon or for use in erecting such

buildings or the gardens or grounds thereof

6. The Vendors reserve all rights of light air and other ,_t. easements and also the right of selling all or any ~of their

remaining estate free from these stipulations and subject to

such stipul.ations and restric1.1ona (1.C any) as they may

> or

;ent

: deed

td

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val

9

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be

11

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e

nk fit

N SEAL of hl.Pl:O.R.D ) I ~ was her e- (

'xed io the presence )

WL-Director

~-~~-I !

I I I I

!

MEMORANDUM OF RENT REVIEW

Relating to

4 Crown Lane , Morden , Surrey

Pu.rsuant to a Lease dated 22nCl November 1973 and 1'\ade between . PLC

LYDFORD ESTATES LIMITED and NATIONAL WESTMINSTE-R BANK LHH'PED

WE LYDFORD ESTATES LIMITED OF Warren Court, Euston Road, PLC

London, NWl and NATIONAL WESTMINSTER BANK LIHIIP:SB OF 41

Lothbury, London , EC2 desire to necord that in accordance

with the rent review provisions contained in clause 5 ·Of

the above men~ioned Lease the rent for the seven years

conunencing on 25th March 1982 has been fixed at ELEVEN THOUSAND

POtmDS per annum in lieu of two thousand two hun~~ed a~d fifty

pounds per annum and that this Memorandum shall constitute

sufficient evidence thereof notwithstanding the provisions in

the Lease for it to be endorsed thereon .

I

Date . ..•.....•. . ...••.. . .•

Signed for and pn behalf of

LYDFORD ESTATES .LIMITED

.............. ..... .........

':. ... •••• .1.· ·.,

. :::: ....

\ \

\

MEMORANDUM OF RENT REVIEW

Relating to 4 Crown Lane Morden

PURSUANT to a Lease dated 22nd November 1973 made between L YDFORD

EST A TES LIMITED of the one part and NATIONAL WESTMINSTER BANK

LIMITED of the other part ("the Lease").

WE L YDFORD ESTATES LIMITED whose registered office is at Warren Court,

Euston Road, London, NW l 3AB the present Lessors of the Lease and

NATIONAL WESTMINSTER BANK PLC whose registered office is at 41

~ Lothbury London EC:zt,._the present Lessee of the Lease desire to record that

in accordance with the rent review provisions contained in Clause 5 of the

Lease the rent payable for seven years from the 25th March 1989 has been

agreed at TWENTY-TWO THOUSAND FIVE HUNDRED POUNDS (L22,500) per

annum in lieu of Eleven Thousand pounds per annum subject to further review

as provided in the Lease and that this Memorandum shall be sufficient

evidence thereof notwithstanding the requirement in the Lease for a

Memorandum to be endorsed thereon.

South Region Prem-. RECEIVED ("~J~9

Dealt '" ~ With by ·············· ··········

o. ,., .. !.G./t.t!.(r!.8.?. ........... .

Signed for and on behalf of L YDFORD EST A TES LIMITED

Director