JOINT RESOLUTION AND TERMINATION OF LEASE AGREEMENT

This Joint Resolution and Termination Of Lease Agreement ("Agreement'') is made and
executed at Lahore on 10-08-2022 by and between;

University Of Management And Technology (UMT) on behalf of (Mr. Ibrahim Hassan

Murad Chairman) s/o Mr. Sohaib Hassan Murad through Registrar, University of
Management and Technology, Lahore Mr. Saleem Ata s/o Mr. Ikram ul haq bearing
CNIC 35202-2952506-5 having its registered office at C-II, Johar Town, Lahore (which
term shall, wherever the context so permits or requires, mean and include his
successors-in-interest or representatives, executors, administrators and permitted
assigns by operation of law or contract) of the First Party.

AND

M/s Faraz Foods (Pvt) Ltd through its Chief Executive Mr. Javed Iqbal s/o Mr.
Muhammad Iqbal bearing CNIC # 35201-3556675-3, a company incorporated under the
repealed Companies Ordinance, 1984 vide certificate of incorporation No. 10590 of
2000-2001, dated 20th day of April 2001 Registered office at 157-Quaid-e-Azam
Industrial Estate, Kot Lakhpat Lahore (which term shall, wherever the context so
permits or requires, mean and include his successors-in-interest or representatives,
executors, administrators and permitted assigns by operation of law or contract) of the
Second Party.

(The First Party and the Second Party hereinafter collectively be referred to as "Parties")

WHEREAS, the both Parties agree to reach at joint resolution and termination of the
Lease Agreement dated 01-03-2022 executed between above-named Parties.

NOW THEREFORE, in consideration of the premises and mutual promises contained

herein, the parties agree as follows:

1. That it is agreed among the both Parties that Lease Agreement dated 01-03-2022
stands terminated with effect from 31-08-2022.
RESPONSE/FEEDBACK
The termination time period is too short to execute all the transition
things/stuff in peaceful manner by saving the repute and new admissions of
SCA. Moreover time limit for logistic arrangements which are to be made for
such transition should also be taken into account.

2. That is agreed by the Second Party that the security deposit amounting Rupees
Forty Two Lac Seventy Seven Thousand One Hundred and Thirty Six (Rs.
4,277,736) paid through Cheque No. 00001121 dated 01-03-2022 of HBL, Branch
Township, Lahore shall be returned to the First Party after the all peacefully
 clearness in the pursuance of Sub-Article 1.4 of Article 1 of Lease Agreement
dated 01-03-2022.
RESPONSE/FEEDBACK
The Return of security deposit should be at the time of signing of this
termination agreement. Apparently it seems that he has no intention to return
the security deposit, otherwise he may agree to this clause by provision of a
post-dated cheque of equal to the amount of security deposit. His intentions
are further endorsed by the amendment he has proposed in article 5 of this
termination agreement in which he stated that the First Party (UMT) is
responsible for the repair and maintenance of assets to be returned to him
including the repair and maintenance cost of assets burnt/damaged by fire. He
will try to deduct all the security against such claims. Furthermore, if we are
going to vacate the property by 31 st August, 2022 the Rent for the month of
September should also be returned by him, which is not mentioned at all in
this agreement.

3. That it is agreed by the Second Party that in the light of Sub-Article 3.5 of Article
3 that Second Party shall not create any hindrances, interruptions and
disturbances into peaceful and quiet enjoyment and use of Leased Premises till
the time of vacation up till 31-08-2022 from the date of signing of this agreement.

4. That it is agreed by the Second Party that in the light of Sub-Article 4.1 of Article
4 that Second Party shall ensure the connectivity of all utilities i.e Electricity,
Water & Sewerage QIE and Telephone. It is further agreed that First Party shall
be liable to pay bills of electricity, telephone and Water supply QIE till 06:00 PM
of the 31-08-2022
RESPONSE/FEEDBACK
Advice of President UMT is needed on the payment of QIE Charges as
payment of such charges was not approved by the competent authority earlier.
Moreover, clarity is needed on the payment of electricity bills, since the
building is not is our use from 30th July, 2022.

5. That it is agreed by the First Party that the First Party shall vacate of the premises
on 31-08-2022 from the date of signing along with fixtures in maintained
condition and equipment’s on operational based with all accessories. For the
avoidance of any doubt, it is agreed that the assets that were burnt and/or
damaged due to fire occurred on 06-04-2022 during uninstallation of electrical
fittings installed in the area under the possession of Second Party before handing
over the possession of that area to First Party shall not be claimed by the Second
Party from First Party. The same has also been intimated to the Second Party
vide Letter dated 31-05-2022 addressing to the Second Party. Where is all the
maintenance cost or damages cost will be born by the First Party.
RESPONSE/FEEDBACK
 It was agreed in the original lease agreement that the assets will be returned
on as-is basis, and the same was written by Hassan Fareed in this draft
agreement that the assets will be returned on as-is basis. However, they have
changed it the assets will be returned in maintained and operational condition
with all accessories. Since during the course of this QABZA by Javed & Party,
many assets have been stolen, damaged by them. This has been
witnessed/observed by the staff of SCA when we took the possession back.
Firstly, we cannot guarantee the return of all assets and secondly either they
are operational or not it cannot be confirmed until a detailed inspection is
carried out. Moreover, he is demanding the maintenance/damages cost which
can not be our liability at all.

6. That it is agreed by the Second Party that the assets including but not limited to
consumables, academic records, marked stationary, personal belongings relating
to staff and faculty, neon signage, equipment, fitting and fixtures installed by the
First Party on the Leased Premises in pursuance of Sub-Article 9.4 of Article 9 of
the Lease Agreement dated 01-03-2022 shall be handed over to the First Party
being the owner of such assets.
RESPONSE/FEEDBACK
Javed and Party is asking about the list of all such assets and it can only be
provided once we have the access to our systems. For more clarity it may
please be noted that anything which is over and above the items which he has
provided as mentioned in the schedule A of the lease agreement as inventory,
belongs to UMT and shall be taken back by UMT.

7. That it is agreed by the First Party that the First Party shall provide the paid
withholding tax challans for the period 01-06-2021 till the vacation which reveals
that the withholding tax deducted from the payments made to the Second Party
for the aforesaid period.

8. In consideration for Parties faithful performance of the terms of this Joint

Resolution and Termination Of Lease Agreement, the parties, for themselves,
their successors, assigns, do hereby relinquish, waive, release, acquit and forever
discharge each other of and from any and all claims, disputes, actions, charges,
contractual obligations, causes of action, rights, demands, debts, or accountings
of whatever nature, at law or in equity, known or unknown, asserted or not
asserted, which they have now or may have in the future against one another,
based on any actions or events which occurred prior to the date of this Joint
Resolution and Termination Of Lease Agreement, including without limitation
the controversies and those arising out of or related to the aforesaid Lease
Agreement dated 01-03-2022, any claims for delay, disruption and impact, any
claims (including statutorily based claims) and any claims for interest, except as
provided herein.
9. The Second Party agrees not to bring any past, present and future financial
claim(s) of any kind whatsoever against the First Party after the issuance of NOC
from Second Party. Each Party further agrees that this Joint Resolution and
Termination Of Lease Agreement constitutes a bar to any such past, present and
future claims.
RESPONSE/FEEDBACK
What does this NOC means? Why we are in need of getting an NOC from
him?

10. The First Party will display the flex after the signing this agreement to intimate
the shifting of the campus, and both parties will place their Security Guards and
Staff during this handling taking over period from signing date to vacation date
31-08-2022.
RESPONSE/FEEDBACK
This point is in contradiction with article number 3, 5 and 6 of this agreement,
since it is agreed in the article 3 that we shall be allowed the peaceful and
quiet enjoyment and use of leased premises without any disturbance and
moreover the return of assets is agreed upon in article 5 and 6 hence there is no
need of deputation of their guards as they will create hindrance in shifting
UMT belongings too.
11. This Joint Resolution and Termination Of Lease Agreement shall be binding
upon and inure to the benefit of the parties' respective heirs, successors, assigns
and representatives.

12. This Joint Resolution and Termination Of Lease Agreement shall be construed
and interpreted in accordance with the laws of Pakistan.

13. This Joint Resolution and Termination Of Lease Agreement shall become
effective on execution and shall have prevailing effect over all other agreements,
MoUs, contracts, documents oral and/or in writing which the Parties may have
previously entered into and/or executed among the Parties. And, this Joint
Resolution and Termination Of Lease Agreement constitutes the entire
understanding between the parties concerning the aforesaid settlement and
release of claims.

14. Each Party has voluntarily executed this Joint Resolution and Termination Of
Lease Agreement, without any duress or undue influence being imposed upon
each such Party.

15. Each Party promises and agrees that it will not to disclose to others and will keep
confidential the terms of this Joint Resolution and Termination Of Lease
Agreement and will not use the defamatory remarks either libel and/or slander
in case of breach of any term of the Joint Resolution and Termination Of Lease
 Agreement, the other Party is entitled to claim loss and damages under the
prevailing laws of Pakistan.

IN WITNESS WHEREOF, the parties hereto have executed this Joint Resolution and
Termination Of Lease Agreement on the date written above.

First Party; Second Party;

_____________________________________ ______________________________
University of Management and Technology M/s Faraz Foods (Pvt) Ltd
Lahore through Mr. Saleem Ata, Registrar through Mr. Javaid Iqbal

Witness:-

1. ____________________

2. ____________________