Rental Agreement VEHICLE RENTAL AGREEMENT

1. PARTIES - This vehicle Rental Agreement is hereby signed and concluded by and between ARVEN TUR. TAS. TIC. LTD. STI. with its principal place of business located at "Akyol Koyu. Kocakisla Mevkii. Milas Bodrum Karayolu Uzeri No: 22/1-B (Total Benzin Istasyonu Ici) Milas / Mugla (hereinafter referred to as "ARVEN CAR" or "Lessor) on the one part and the real/judicial person with its trade title, address and signature appearing on the first page of the agreement which acquires a limited right by hiring the vehicle in consideration of a rental fee (hereinafter referred to as "Lessee") on the other part.
NOW, THEREFORE, PARTIES AGREE AS FOLLOWS:

2. SUBJECT - The lessor has leased the vehicle to the Lessee in consideration of payment of the rental fee for the period specified on the first page of the agreement, and any extensions thereof subject to the terms and conditions of this agreement. The Lessee hereby agrees and undertakes that the Lessee has taken delivery of the vehicle together with the spare tire, equipment, necessary documentation (Le. traffic license, thechnical user's guide. maps, and etc.) as well as all the accessories, with its fuel tahk filled fully and without any problem or damage of any kind in a manner ready for use. and that the Lessee shall deliver the vehicle on the date and time specified herein unless the parties have agreed otherwise. 

3. GENERAL TERMS AND CONDITIONS

3.1. The Lessee hereby agrees and undertakes notto use the vehicle forthe following purposes: 
3.1.1 transportation of all kinds of commodities whose carriage is forbidden underthe applicable Turkish criminal and customs ergulations, of performance of any other illegal activities: 
3.1.2 towing, pushing or transportation of anather automobile, or any other maving or non-moving objects without prior consent of the Lessor; 
3.1.3 rallies, races, soundness tests, motor sports, or use at locatians which are normally closed fortraftic, or are not appropriate for use of vehicles: 
3.1.4 transportation of passengers or commodities in excess of the limits specified in highways traftic regulations, or transportation of cargoes or commodities outside the baggage for any reason whatsoever; 
3.1.5 transportation of passengers or commodities for a valuable consideration or notfor any economic or non-economic purposes 
3.2 The Lessee (or the driver if the Lessee uses the vehicle by means of a driver) should be at least 21 years of old, and have held a valid domestic or international drivengi license for at least one year as of the date of this agreement for the vehicles falling into scope of the Groups A-B-C-D-E-F-G-J-N, and be at least 27 years of old, and have held a valid domestic or international driving license for at leasttwo years as of the date of this agreement for the vehicles falling into scope of the Groups K-L-M-P-S-W-X (The vehicle's group is specified on the first page o the agreement). 
3.3 The Lessee may not rent or assign the vehicle to, or allow any third parties to use the vehicle for any reason whatsover without prior written consent of the Lessor. Third parties may use the vehicle only subject to the written consent of the Lessorr upon submi¬ssion to the Lessor of photocopies of their identities and driving licenses together with their address details, and registration thereof to the agreement as signed by the said third parties. If the Lessee acts contrary to this provision, then the Lessor shall be entitled to record the deposit as revenue. 
3.4 The Lessee shall be obliged to park the vehicle as locked at an indoor area in a safe manner qhen the vehicle is not in transit. The Lessee shall pay forthe current value of the vehicle together with lass of rental revenues for thirty (30) days if the vehicle could not have been found, and the insurance company has rejected to provide compensation after it was stolen. and, if the vehicle sufter from damages due to an event of theft, or its parts or accessories are stolen, then the Lessee shall be solely liable for the expenses to be incurred for workmanship, replacement of parts, parking expenses payablel throughout the maintenance period, towing of the vehicle, lass of rental revenues deprived operating expenses, and etc. The Lessee hereby undertakes to pay to the Lessor in cash and full all the monies invoiced to the Lessee due to the aforementioned reasons. 
3.5 If the Lessee fails to deliver the ofticial documents of the vehicle (i.e. license, license plate, traftic fines and receipts of payment thereof. if any) at the time of delivery of the vehicle to the Lessor, then the Lessee shall continue to pay the applicable daily rental fees until the date when said documents are delivered to the Lessor in full, and shall alsa bear the expenses to be incurred for replacement thereof in case of lass thereof. 
3.6 In case of seizure or arrest of the vehicle by the authorized bodies due to any reason attributable to the Lessee, all kinds of expenses to be incurred for taking the vehicle back shall be borne by the Lessee. The Lessee shall also compensate the Lessor for the actual loss of rental revenues suffered until the date when the vehicle is taken back. 
3.7 The Lessor shall bear all the expenses to be incurred for periodical maintenance and repair works or replacement of spare parts and oil/tires performed as a result of normal wear and tear of the vehicle. The Lessee shall notifythe nearest office the Lessor of any repair works which might be required to be performed outside the area where the vehicle has been originally rented, have necessary works performed subject to prior approvalaf the Lessor, and the Lessee shall be paid forthe detailed invoices billed to the Lessor. The Lessee shall bear all the expenses to be incurred for periodical maintenance and repair works or replacement of spare parts and oil/tires performed as a result of unusual use of. or any accident involving the vehicle, and the expenses to be incurred for towing of the vehicle to the location where the venicle has been originally rented as a result of inability of the vehicle to move due to the damages attributable to freezing or any other similar events, and the Lessor shall alsa recover from the tessee based on then current tariff of rental fees its actual losses of rental revenue suffered as a result of said events. 
3.8 The Lessee shall be liable for the damages such as stains and etc. suffered by the paint, hood, upholstery, and etc, of the vehicle in excess of ordinary spoil which require performance of special cleaning or maintenance activities throughout use of the vehicle hereunder. 
3.9 The Lessee shall bear tuel oil expenses. If the driver is other than the Lessee, then driver and the Lessee shall be jointly liable for fuel oil expenses. If quantity of fuel oil available in the fuel tank at the time of returning of the vehicle is lower than that available on the commencement date of the rental period, (i.e. when the vehicle was delivered to the lessee), then value of the missing quantity as well as a service fee of TL 15 shall be collected from the Lessee. 
3.10 Daily rental period shall be twenty four (24) hours, weekly rental period shall be seven (7) days. and monthly rental period shall be thirty (30) days. 
3.11 The Lessee hereby agrees declares, and undertakes that the Lessee has assumed actual supervisian and control of the vehicles, and assumed the title of 2"Operator 2" at the time of delivery of the vehicle to the Lessee. The Lessee hereby agrees and undertakes in advance that the Lessee shall compensate the Lessor for all Kinds of claims made by third parties to the Lessor as a result of any accidents or occurrences which might take place during term of this agreement pursuant to the Hightways Traffic Law as well as other pertinent regulations, and that the Lessee shall bear all the penal and legal consequences thereof. The Lessor is hereby entitled to recover from the Lessee any indemnities and other monies which the Lessor is compelled to payto third parties as a result of any accidents or occurrences which might take place during term of this agreement. 
3.12 If the Lessee is a judicial person, the Lessee hereby agrees ad declares in advance that the person signing this rental contract and/or taking delivery of the vehicle on behalf of the Lessee is duly authorized to represent the Lessee, that signature appearing hereon is binding upon the Lessee. and the Lessee shall bear all the penal and legal liabilities which might arise out of or in connection with this agreement. 
3.13 Vehicles covered hereunder may not be brought out of the country without prior written consent of the Lessor 
3.14 The Lessee shall not transfer. assign or pledge its rights hereunder, or the vehicle, or equipment and devices contained in the vehicle, nor use or allow others to use them in a manner defrimental to the Lessor. Otherwise the Lessor shall be entitled to terminate this agreement, and requuest return of the vehicle without any reason and payment of any kind. 
3.15 The Lessee shall bear bridge tolls, highway tools, KGS/OGS charges incurred for the vehicle and the Lessee shall be liable for all the damages and losses suffered by the Lessor due to such expenses. The Lessee shall not be relieved from the liability even if such expenses are identified after termination or expiration of the agreement. The Lessee may obtain OGS devices in its name for use throughout the rental period with prior written consent of the Lessor. However, the Lessee shall transter or cancel these devices by paying all the fines and liabilities before expiration of the agreement. 
3.16 The Lessee shall comply with the Highways Traffic Law, Lessee shall bear all the fines as well as expenses which might me imposed or incurred as a result of actions cornmitted'in contrary to the applicable regulations by the Lessee, its personnel or any third party which is allowed to use the vehicle in contrary to this Agreement (even if they are imposed or incurred upon expiration of termination of this agreement), and these fines and expenses shall be paid to the Lessor against invoice. 
3.17 The Lessee hereby acrees declares, and undertakes that the Lessee shall place to the Lessor in writing its requests for any amendment to the terms ana conoitions of this agreement, or any changes in vehicle (s). or for any renewal or extension of the agreement and that and said requests shall be subject to approval of the Lessor. 

4. PAYMENT TERMS 

4.1 The Lessee shall pay to the Lessor a deposit which is equal to 150% of the estimated renter fee plus mileage amount to be calculated based on the tariff rates applicable as of the date of this agreement in cash or by means of a promissory note or a credit card on the commencement date of the rental period, and said deposit shall be refunded to the lessee upon expiration of the rental period in case of no breach of this agreement. 
4.2 Definite calculation of the rental fee shall be carried out upon expiration of the rental period. Payments sahll be made based on Turkish Lira. Payments in any currency shall be made based on currency selling rates applied by Turkish Central Bank on the payment date. Payments made via a credit care of the Lessee not in excess of the applicable limits of the credit card shall be deemed as payments in cash. 
4.3 Any changes in the applicable rates of VAT and other taxes shall be fully reflected to the invoices billed for rental fees. 
4.4 The Lessee hereby grants its consent for collection of the payments hereunder from the credit card specified on the first page of this agreement. 

5. INSURANCE 

5.1 The Lessor has taken out an Hightways Motor Vehicles Compulsory Liability Insurance as well as a hull insurance policy for its vehicles pursuant to the Highways Traffic Law. Daily rentar fees are inclusive of fhe cost of theses insurance policies. Following contlitions are to be satisfied in order to be able to benefit from the insurance policies in case of an accident. Theft, or damage, 
5.1.1 The Lessee shall obtain an accident report and accident minutes detailing mode of the occurrence from the authorized body located nearest to the place of occurrence (i.e. traffic polices and local police stations within city borders, and gendarme stations, outside city borders), and submit to the Lessor no later than 48 hours all the information and documentation together with names and addresses of witnesses, 
5.1.2 The Lessee shall notify any occurrence to the Lessor immediately unless the Lessee does not suffer from any preventive medical condition as pproven by means of a medical report. The Lessee shall put the vehicle under protection by taking all the measures required to minimize actual damages. Any events of theft involving the vehicle under these conditions shall be under liability of the Lessee. 
5.1.3 In case of damages and losses not covered under hightways motor vehicles compulsory liability insurance as well as hull insurance policy and/or in case of breach of the applicable rules, the tessee shall be liable for the damages and losses suffered by the vehicle or third parties, for the damages and losses in excess of the insurance policies, and for all the claims recovered from the Lessor. 
5.1.4 Atthe time of an occurrence during supervisian and use of the vehicle, the Lessee, its personnel or any third party which is allawed to use the vehicle in contrary to this Agreement should not have been under influence of alcohal, any narcotic substance, or any other substance which prevents use of vehicles If the insurance policies become invalid due to any such reason or any default of the said parties, or breach of any provisions hereof, the Lessee shall be liable for all the tangible and intangible damages and losses suffered by the vehicle, the Lessor, or third parties. 
5.1.5 If the Lessor fails to benefit filly or partially from insurance policies due to any reason not attributable to the Lessor, then the Lessor shall be entitledd to reguest payment by the Lessee of the actual damages and losses as well as actuallass of profit suffered by the Lessor. Actual loss of rental revenues suffered in connection with the vehicle shall be calculated based on the then current daily rental fees. 
5.1.6 The Lessor shall not be held accountable for any legal or penal liabilities due to cases of death or disability which are attributable to mechanical and production defects of the vehicle or its spare parts. 
5.1.7 The Lessee shall bear the penal and legal liabilities arising from the technical failures which are attributable to misuse of the vehicle based on a report obtained from an Authorized Technical Service. The Lessor shall be entitled to recover from the Lessee all the monies which the Lessor is obliged to pay due to the said reason. 

6. TERMINATION 

6.1 This Agreement shall be automatically terminated upon expiration of the rental period. 
6.2 The tessor may terminate the Agreement at any time, or refrain from extending the Agreement without any cause without payment of any compensation. 
6.3 This Agreement shall be automatically terminated if the Lessee fails to pay the rental fee for two (2) months. 
6.4 If the Lessee fails to deliver the vehicle to the Lessor in a timely manner without any damage upon expiration or termination of this Agreement for any reason whatsoever, then the Lessor shall be entitled to claim a fine equal to triple times of the daily rental fee for each day of delay. 

7. NOTICES
 
Each party hereby declares and under takes that it shall notify to the other party of an change in its address specified herein as soan as possible, or otherwise notices served to its last known address shall be deemed to have been served in a due manner. 

8. JURISDICTION 

Parties hereby agree that disputes arising out of or in cannectian with this agreement shall be referred to the. competent courts and execution offices of MILAS / MUGLA Turkish version of this agreement shall govern in case of any dispute.