On extending the term of the land lease agreement, and making amendments and additions to the agreement

What was decided

1. Lease extendedLand plot

   Extend the term of the lease agreement until September 1, 2031

   • Owner: Aida Khojoyan's

   Object

   Land plot of the garage and basement No. 4 at building 2, Nansen street, Nor Nork

   Cadastral code

   22102018-01-0089

   Area

   59.75 m²

   Replaced lease agreement №2615 · point 16

   (the original lease term is not specified, but it is extended until 2031)

   until September 1, 2031

2. Act amendedLease agreement

   Remove the words "and to alienate the attached immovable property to the lessor" from sub-clause 5.5 of the agreement

   Deleted lease agreement №2615 · Sub-clause 5.5

   (the original text of the clause is not provided, but it is stated that these words are removed)

   Remove the words "and to alienate the attached immovable property to the lessor"

3. Act amendedLease agreement

   Supplement clause 6 of the agreement with new sub-clauses 6.8, 6.9, and 6.10

   • Owner: Yerevan community
   • Owner: Yerevan City Hall

   Added lease agreement №2615 · clause 6

   (the original text of the clause is not provided, but it is stated that new clauses 6.8, 6.9, and 6.10 are added)

   6.8 Due to the implementation of urban development or investment programs approved by the community of Yerevan or the Yerevan City Hall, or the regulation of urban development issues of courtyard and inter-courtyard areas, as well as the implementation of other programs by or with the participation of the community of Yerevan, or the regulation of other public issues, the lessor has the right to unilaterally withdraw from this agreement, in which case the agreement is considered terminated or ceased on the day following the expiration of three months from the date of receipt by the lessee of the notification of unilateral withdrawal from the agreement, and the state registration of the lease right arising from this agreement is recognized as invalid based on the application of the lessor in accordance with subparagraph 'c' of point 3 of part 3 of Article 35 of the Law "On State Registration of Rights to Property". 6.9 The parties hereby unconditionally agree that the lessor's written notification of unilateral withdrawal from the agreement in accordance with sub-clause 6.8 of the agreement is carried out simultaneously by the following three methods: a) The lessor's written notification is published on the official websites of the Yerevan City Hall www.yerevan.am, as well as the official website of public notifications of the Republic of Armenia www.azdarar.am, b) The lessor's written notification is sent to the lessee's e-mail address (mail), if available, c) The lessor's written notification is sent by postal delivery via registered mail. 6.10 The parties hereby unconditionally agree and guarantee that the notification methods specified in sub-clause 6.9 of the agreement are considered proper and valid. Moreover, the lessee is considered duly notified of the unilateral withdrawal from the agreement from the day the notification is published on the mentioned websites. The lessee unconditionally agrees that following the websites www.yerevan.am and www.azdarar.am throughout the term of the agreement is its continuous and uninterrupted contractual obligation under any circumstances.

4. Act amendedLease agreement

   Rephrase clause 8 of the agreement as follows

   Replaced lease agreement №2615 · point 8

   (the original text of the clause is not provided, but it is stated that clause 8 is rephrased)

   The annual rent for the land plot, in accordance with subparagraph 'd' of point 1 of clause 40 of the annex to decision No. 463-N of the Council of Elders of Yerevan dated December 23, 2025, amounts to 35,198 /thirty-five thousand one hundred ninety-eight/ AMD (59.75 sq.m. x 58.908 AMD per sq.m. x 1%). At the time of signing the agreement, the cadastral value of the land plot, close to the market value, is 58.908 AMD per 1 sq.m.

5. Act amendedLease agreement

   Rephrase clause 9 of the agreement with the following content

   • Owner: The lessor

   Replaced lease agreement №2615 · point 9

   (the original text of the clause is not provided, but it is stated that clause 9 is rephrased)

   In cases of change (increase) of the cadastral value of the land approximated to the market value and (or) the amount of rent by decisions of the Council of Elders of the City of Yerevan, the Lessor is obliged to notify the Lessee in writing in advance about the new value (rent). In case of an increase in the cadastral value of the land approximated to the market value and (or) the rent, the calculated amount of rent is subject to application (the agreement is considered amended) no earlier than 15 days after written notification thereof. The rent is not changed if the Lessee has notified the Lessor of the early termination of the agreement (withdrawal from the agreement) before the expiration of the corresponding 15-day period.

6. Execution assignedMunicipal act

   Assign the organization and responsibility for the execution of the decision to the head of the Nor Nork administrative district of Yerevan.

   • Executor: Head of the Nor Nork administrative district of Yerevan
7. Oversight assignedMunicipal act

   Oversight of the execution of this decision is provided by the First Deputy Mayor of Yerevan A. Pambukhchyan.

   • Oversight: A. Pambukhchyan