Terms and Conditions

20.6.2016

Terms and Conditions for the Rental of a Safe Deposit Box

Private and Confidential

1. The rental costs for a Safe Deposit Box (hereinafter the “Rent”) shall be paid always in advance for the whole rental period in the amount specified by the Company’s Pricelist valid and effective as of the date of conclusion of the rental contract, published online at www.praguesafedeposit.cz, and is due in cash upon signing of the contract. In case of payment by bank wire transfer the due date is the term specified in the invoice. If the contractual parties agreed a trial period, the Rent is due on the last day of the trial period, unless a respective invoice states later due date.

2. The Rent for any extension beyond the initial period shall be paid on the last day of the current contract, unless a respective invoice states later due date. Unless the rental contract is terminated by written notice of termination with effect as of the end of rental period, the contract is extended on the same condition as originally agreed, subject to changes in the Company’s Pricelist valid and effective as of the last day of the current contract, published online at www.praguesafedeposit.com. The trial period does not apply to the extended contract.

3. The number of times the Box Holder may access the Safe Deposit Box is not limited and is not, unless notified otherwise by the Company, subject to any additional charges. If reasonably necessary the Box Holder is obliged to provide at request access to the box on demand to the Company so that the Company can ascertain whether it is used in due form and in accordance with the rental contract. In this connection, the Box Holder understands that the Company has no responsibility for the contents of the Subject of rental or the items brought into the premises of the Company.

4. The Company has installed such security and procedures as it considers in its own opinion to be adequate and the Box Holder is deemed to have inspected and approved the same and shall not raise further enquiry as to security or procedures or their adequacy.

5. The Box Holder hereby declares he/she have made proper enquires that the items deposited in the Safe Deposit Box or otherwise brought into the premises of the Company are not or do not contain any ammunition, weapons, explosive, combustible or easily inflammable or illegal substances or radioactive or otherwise noxious materials, food and perishable items or items whose deposition would be in contradiction to generally binding regulations or general interest. The Box Holder is liable for any damage arising in consequence of the storage or introduction of such items, even if the properties of the deposited items were not previously known to him. In addition, the Box Holder warrants that items brought to the Company's premises do not exceed the value of EUR 5.000.

6. The Box Holder shall be provided with two keys to the rented Safe Deposit Box and one magnetic ID card. During the rental period the Company may on request and at its own discretion provide the Box Holder with 1 additional magnetic card for an additional cost of CZK 350. Full responsibility for the operation of the Safe Deposit Box or any damage caused by loss of key/s or magnetic card/s lies with the Box Holder. For this purpose, the Box Holder shall pay a deposit of CZK 2,000 if the Box Holder has a permanent residence/registered office in the Czech Republic or CZK 5,000 if the Box Holder has a permanent residence/registered office outside the Czech Republic upon signing of the contract. The deposit is refundable after the contract termination under the condition that the Box Holder returns all keys and magnetic cards to the Subject of rental and pays all his debts arisen from or in connection with the rental contract to the Company, on the last day of the rental period at the latest. If the Box Holder fails to do so, the Company is entitled to charge a contractual penalty of CZK 6.000, from which will be deducted the key deposit paid in accordance to Article 5. This means that the key deposit will be forfeited in favour of the Company as a partial compensation for damage.

7. The Box Holder shall properly care for keys and the cards under the rental contract to prevent their loss. In case of loss of the key/s or magnetic card/s the Box Holder is obliged to immediately inform the Company of such an event. The same applies in case of loss of the cards. In case of loss of the key/s, the Company has the right, in the prearranged time and in the presence of the Box Holder, to remove and replace the Safe Deposit Box lock at the Box Holder’s expense and subject to a penalty charge in the amount of CZK 1,000. Any notice related to the loss of the key/s or card/s, as well as complaints of impaired or non- functional cards or personal codes (PIN) can be made by the Box Holder on working days from 8:30 till 17:00 only. The Box Holder is aware of and acknowledges that in such a case the Company cannot guarantee the Box Holder’s immediate or permanent access to the Safe Deposit Box.

8. Prague Safe Deposit is entitled to rescind the contract with an immediate effect if the Rent is not made on the due date.

9. Upon expiry or termination of the contract the Box holder will be liable to have cleared the contents of the Safe Deposit Box on the last date of the rental period within the working hours of the Company. Should the Box Holder not clear the contents then the Company may open the box at the Box Holder’s expense and/or store the items in the same or another storage box at a premium rate (see website www.praguesafedeposit.com) until collected by the Box Holder. All emails or communications will be charged at CZK 750 (seven hundred and fifty Czech crowns) per hour and a maximum of one hour per item.

10. The Box Holder's access to the deposit centre and to the Subject of rental will be restricted, unless the Rent is paid as of the due date.

11. In case of death of the Box Holder, only duly authorised attorneys, or in the presence of the notary, the Company shall be entitled to take any steps to open the Safe Deposit Box and to claim all sums, without detriment to the rights of the Company so far as the recovering and the Rent and penalty or legal charges are concerned.

12. The Company is entitled to terminate this contract on one day’s notice without stating any reason. The notice period shall begin immediately following the delivery of the notice or its deposition at the competent post office. In case of breach of the contract by the Box Holder the Company is entitled to terminate the contract with an immediate effect. The Box Holder is entitled to obtain a refund of the proportionate part of the paid Rent only in the event that the Company had terminated the contract without reasonable cause.

13. The Box Holder is entitled to terminate the rental contract by a written notice of termination with effect as of the end of rental period, the termination notice shall be delivered to the Company no later than on the last day of the rental period. Unless the rental contract is terminated in accordance with the previous sentence, the contract is extended as stated in the Article 2 above.

14. The Box Holder undertakes to notify the Company without delay by registered mail of any change in address, residence, and name, business name or statutory office. The Box Holder bears any unfavourable consequences arisen from failure to fulfil this duty. Written announcements sent by the Company to the Box Holder are considered duly delivered, even if they were sent to the Box Holder’s last address as reported to the Company and the post has returned them as undeliverable.

15. The Company provides the Box Holder with reasonable access to his Safe Deposit Box with the exception of following provisions of this Article. The Company is entitled to limit the access to the safe deposit centre and to the Safe Deposit Box for serious operational or security reasons for the necessarily required time. Likewise, the Company may limit the Box Holder’s access to his Safe Deposit Box in case of violating or not fulfilling the contractual conditions from the Box Holder’s side. In case of death of the Box Holder the Company is entitled to limit the access to the Subject of rental from the moment it has the knowledge of this situation and at its discretion to notify the next of kin or contact provided of the death of the Box Holder. The Company is also entitled to limit the access to the safe deposit centre and to the Safe Deposit Box in case Structural or Maintenance works, move from premises and other relevant situations.

16. The Box Holder hereby agrees that the Company may use their personal data for marketing or promotional purposes and to keep them advised of services or offers being made available, or to use the data in the best commercial interests of the Company, or as it may consider appropriate.

17. The Company reserves the right to adjust at its discretions the prices of its services depending on its estimation of market conditions: including, but not limited to Rent, deposit, penalty charges, additional charge for a co-user, price for additional cards, replacement and drilling of the lock, replacement of inner cassette etc. (actual Pricelist is available at Prague Safe Deposit s.r.o. and on www.praguesafedeposit.com) or any other costs which may arise. The Company shall notify the Box Holder of any variation in fees, charges or expenses to be paid by the Box Holder, whether by e-mail or by letter or by posting made online on the website (whether during the licence term, upon determination or thereafter).

18. The Company is authorized to take all necessary measures to ensure the safe deposit boxes and their contents as needed, including, but not limited to, relocation of safe deposit boxes and their contents, if necessary.

19. Where any payments are in arrears or in dispute the Company shall be entitled to prevent any access to the box until all outstanding matters are settled and cleared funds are received.

20. Where payment is in arrears or in dispute, the Company may open the box in the presence of a witness. All costs of opening the box, the attendance of third parties and other disbursements will be paid by the Box Holder.

21. Content of the Safe Deposit Box is considered to be pledge securing the receivables of the Company up to the maximum amount of CZK 45.000 against the Box Holder, while the receivables have arisen under the rental contract or from its breach. The pledge is established from the day when the content of the Safe Deposit Box is deposited to the Safe Deposit Box, but the pledge is considered as handed over to the Company on the day when the rental contract is breached by the Box Holder.

22. The Company may satisfy its receivables from the profit of the sale of the pledge out of public auction or by selling it by other means, in its sole discretion.

23.Under no circumstances whatsoever will the Company be liable for any damage, consequential loss or diminution to the value of any item stored and the Box Holder shall make any insurance or other arrangements to cover the items and their value at their own cost and at their own responsibility, as well as indemnity the Company against a claim arising out of Article 8 above or other provisions of these rentals terms and conditions.

24. In case the trial period is concluded in the rental contract, the Box Holder is entitled to terminate the rental contract without any notice period within the trial period. The notice of termination shall be delivered to the Company on the last day of the trial period at the latest.

25. The Rent for a trial period does not apply only if the rental contract is terminated within the trial period under the previous Article. The trial period is considered as a part of the rental period and is included in the rental period stated in the rental contract, unless the rental contract is terminated within the trial period in accordance with the previous Article.

26. The rental contract becomes effective on the date of its execution by both contractual parties by signing the Registration Form. The rental contract is concluded for a rental period agreed therein.

27. These terms are considered as the integral part of the rental contract and replaces any previous version of terms. They may only be changed in writing when signed by both parties, unless it is a change that the Company reserved.

28.Unless otherwise stated in the rental contract or its terms, the legal relationships arisen from the rental contract shall be governed by relevant provisions of the applicable law of the Czech Republic.

29. In the event that any provision becomes invalid, the entire contract retains its validity.

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