Buenos Aires - Rental Contract for a Real Estate Property under the Horizontal Property Regime, with Expenses and Taxes in Account of the Tenant.

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The parties involved agree to the terms and conditions stipulated in this Rental Contract.

FIRST: Mr. ....., of nationality ....., being..... of marital status, who proves his identity with Identity Card Number: ..... domiciled at ....., in the area of ....., Province of Buenos Aires, hereinafter referred to as THE LANDLORD, leases the property located at ....., hereinafter referred to as THE LEASED PROPERTY to Mr. ..... , of nationality ....., being..... of marital status, who proves his/her identity with Identity Card Number: ..... domiciled at the property being rented by means of this real estate contract, hereinafter referred to as THE TENANT, the last one declares that the property mentioned will be used solely for the purpose of housing. THE TENANT has prohibited giving any other usage to the property.

SECOND: The total term for this rental will be of..... months, beginning on ..... and concluding the day.... of the month ..... of the year ..... .On this date THE TENANT has the obligation of returning THE LEASED PROPERTY, in the same state is was given to him and with no occupants of any kind.

THIRD: The monthly rent for this real estate contract is of U$S..... (US Dollar Bills), which will be paid exclusively in US Dollar Bills, being an essential condition of this operation.

FOURTH: The rent for each month must be paid from the 1st to the 5th of each month on the address provided by THE LANDLORD. In the case THE TENANT was not able to pay with in that time frame, he will be charged with an interest of.....% in US Dollar Bills. Said interest has the quality of being cumulative for each subsequent month. It is conveniently stipulated that there will also be an annual interest of.....% to be paid in US Dollar Bills as well. As a minimum it will have to be one and a half times higher than the interest the "Banco de la Provincia de Buenos Aires" applies to investments on a fixed interest rate for the term of thirty days.

FIFTH: The two parts must agree on the automatic arrear for each of the obligations presented on the real estate contract. Any of those arrears will take place when any of the given obligations are unable to be fulfilled on their respective deadlines. Arrears should not be dealt with in court or outside of it, sticking to everything established in the Article 509 of the Civil Code. It is recommended to apply for enforcement in the case the deadline for a payment is not complied with.

SIXTH: According to what it is stipulated in the Civil Code in its Third Section, Title VI, Chapter V, Article 1579. If THE TENANT did not paid two consecutive periods of rent, THE LANDLORD will be able to demand the cancellation of the Rental Contract as well as demanding the necessary compensations.

SEVENTH: THE TENANT has prohibited doing any kind of modifications to the property without the previous written authorization from THE LANDLORD, according to what is established in the Article 1537 of the Civil Code.

EIGHT: This real estate contract is UNTRANSFERABLE, having THE TENANT prohibited to sublet totally or partially the property subject of this real estate contract.

NINTH: On this act THE TENANT takes the possession of the property subject of this real estate contract, expressing conformity with its current state of conservation. In the case any of the property's accessories or installations was to be damaged, THE TENANT will be responsible of replacing/fixing them, excluding the wear and tear caused by time and proper usage.

TENTH: Six months after this real estate contract has taken effect, THE TENANT will be able to terminate it, informing of this decision to THE LANDLORD with sixty days of anticipation. If the TENANT was to make use of this option before the term of one year, he will have to pay the rent equivalent to one and half months to THE LANDLORD, as compensation. If the term of one year had already expired when canceling the real estate contract, the compensation will be of one month only.

ELEVENTH: THE LANDLORD is not responsible for any damage or injuries that THE TENANT or anyone else might suffer because of accidents caused by short-circuits, flaws, filtrations, fires, floods and/or any other causes listed in the Article 1517 of the Civil Code. THE LANDLORD is exempted from what is stated in the Articles 1514 to 1526 of the Civil Code.

TWELFTH: The parts voluntarily agree that for any situation regarding this real estate contract, that may arise between the two, they will take care of them under the jurisdiction of the "Tribunales ordinarios de Justicia del Departamento Judicial" of: ..... giving up any other jurisdiction that might correspond to them. Any iteration in said jurisdiction will be taken as valid for anything regarding this Rental Contract.

THIRTEENTH: The parties agree to the implementation of the following clause: In the case that a new normative regarding rental should arise, with relation to the legal Argentinean currency, it is established that the current value of the US Dollar will be used as a mean to stabilize the value of the current Argentinean currency. The value of the Us Dollar taken as a reference will the one in the cities of New York, Zurich, Amsterdam and/or Montevideo and according to what is published in the newspapers LA NACION and/or AMBITO FINANCIERO. In any case, THE LANDLORD reserves his right to demand the payment to be done in US Dollar Bills, as this was a condition previously established in this real estate contract.

FOURTEENTH: To warrant the fulfillment of payments, THE TENANT gives to THE LANDLORD the amount of U$S..... (US Dollar Bills) as a Warranty Deposit. This amount will not be affected by any kind of interests. THE LANDLORD is entitled to keep this deposit as long as there are months of rent and/or services that THE TENANT still owes. THE TENANT has prohibited assigning the Warranty Deposit to the payment of the rent, expenses, tributes, services and any other obligation.

FIFTEENTH: The periods for this real estate contract are of full months. If THE TENANT was to return the property to its owner before the end of a given month, the rent for that month will have to be paid.

SIXTEENTH: Mr. ....., of nationality ....., being..... of marital status, who proves his/her Identity with Identity Card Number: ..... domiciled at ....., in the area of ....., Province of Buenos Aires, declares to be the guarantor for THE TENANT that will sign this real estate contract agreeing with all the terms and conditions listed in it. Said guarantor must have ownership of one or more properties on the city or outskirts of Buenos Aires, their value must be equal or higher to the amount he/she is acting as a guarantor for. It is also established that the guarantor must be approved by the landlord. If in the future the guarantor became insolvent, THE LANDLORD reserves its right to demand for a new solvent guarantor, in the term of no more than 15 days. If this condition was unable to be fulfilled by THE TENANT, this real estate contract will be cancelled and THE LANDLORD will be authorized to demand an eviction and the pertinent compensations, with out the need of judicial or extrajudicial procedures.

SEVENTEENTH: THE TENANT will take the steps necessary for the services of electricity and gas to be billed to his name. This change has to take effect in a term no longer than 15 days after the signing of this real estate contract, and before finalizing this real estate contract the state of the services will be checked with the companies offering them.

EIGHTEENTH: THE TENANT will be paying the services of the property. Bills for the water service are to be paid to the company “AGUAS ARGENTINAS S.A.”. Bills for the "Real Estate Properties Tax" are to be paid in the "Dirección General de Rentas de la Provincia de Buenos Aires". THE TENANT has to show with the monthly rent, the receipts for each service, otherwise the rent for that month will be considered as not paid, allowing THE LANDLORD to demand an eviction and payment of the relevant compensations.

NINTEENTH: The property has a working phone line installed with the number: ..... . THE TENANT will have to register it to his name, within the first fifteen days after the signing of this real estate contract, if this was not the case; THE LANLORD reserves its right to cancel the phone service. THE TENANT has to transfer the ownership of the phone line back to THE LANDLORD once this real estate contract expires, if the first one failed to do so, THE LANDLORD will be entitled to claim U$S ..... (US Dollar Bills) as compensation.

TWENTIETH: If THE TENANT did not pay the rent or was unable to comply with any of the conditions stated in this real estate contract, THE LANDLORD will be authorized to cancel it. If the responsible for the cancellation of this agreement was THE TENANT, the monthly rent and the rest of the conditions stated in this real estate contract, will stay in effect for the time they were agreed to originally until THE TENANT moves out of the property and gives back the keys. THE LANDLORD must issue a written document stating that he received the keys and possession from THE TENANT. In the case the possession of the property was not given back to THE LANDLORD the day this real estate contract expires, THE TENANT will be paying an amount equivalent to 10% of the monthly rent, per day past the expiration date of this real estate contract. These compensations THE TENANT has to pay in case he is unable to return the possession in the time agreed to, are independent from the legal actions THE LANDLORD can take towards that breach of the real estate contract, specially the ones stated in the Article 1609 of the Civil Code.

TWENTYFIRST: THE TENANT must attend to pay the rent in the offices of ....., located at the street ....., in the area of ....., in the city of Buenos Aires, from Monday to Friday between ..... Hs. and..... Hs. (During Saturdays, Sundays and Holidays payments are not allowed). The Public Auctioneer and Public Real Estate Broker..... is authorized to receive the rent each month on behalf of THE LANDLORD.

In witness whereof, the parties have entered into the present agreement in three originals, on the area of ....., Province of Buenos Aires, on the date ..... .

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