Exhibit
10.8

 


LEASE
AGREEMENT

 


I. Designation
of the parties


 


This contract
is concluded between the undersigned:


 


AN
IMMOBILIER SARL, located at liberty 6 extension, cité des jeunes cadres lébou, villa N*25, Trade Register N*
SNDKR2013B10704, represented by Mrs. Ndeye Marie Diallo


 


Hereinafter
referred to as “the Lessor”;


 


&


 


African
Agriculture (address, RC, ...):


 


Hereinafter
referred to as “the Taker”;


 


Through
this lease contract, the lessor undertakes to transmit to the lessee the enjoyment of a property for a given period. The lessee of the
property is called upon to pay the lessor a monthly rent to retain his right of use over the accommodation. This lease agreement makes
it possible to minimize the risk of disputes during the rental and to recognize the obligations and prerogatives of both parties before
the law.


 


The parties
have therefore agreed to enter into this contract and to specify the terms of performance of the Service as follows.


 


I. PURPOSE
OF THE RENTAL AGREEMENT


 


This contract
defines the rental conditions for a furnished camp with all the required conveniences.


 


Its
purpose is to define the conditions of reservation and stay. The reception of the tenants on the day of their arrival, will be done
by a steward and the house keeper, in order to facilitate their installation and stay.


 


Security will be ensured by LFT
agents.


 


The relationship
between landlord and tenant is based on trust. The tenants undertake to respect the rented goods and to return them in good condition.

 






     


     


    

 


No modification,
erasure or overload, is accepted after the drafting of the contract, without the agreement of both parties.


 


II. HOUSING
CONSISTENCY


 


- Location
of the camp:


 


The
camp is located in Yetti Yone Colonat Richard Toll, which is a locality in the region of St Louis, in the north-west of Senegal.


 


The total
area of the field where the camp is located is 5ha including 2ha unfenced, the camp is located not far from the famous watercourse ‘La
Taouey’ which connects the Lac de Guiers to the Senegal river.


 


- Year of
rehabilitation: 2021


- Living
area: 3ha


- Number
of main rooms: 8 habitable and 6 finishing


- Maximum
number of occupants: 14 and other possible constructions


 


The equipped
camp has all the necessary amenities: hot water, Wifi, Air conditioner, Swimming pool, chef, restaurant, meeting room, solar installation
and an emergency system with a generator.


 


In addition
to this, tenants will have access to the lake and the jetty.


 


Power from
the SENELEC public network and water from SEN’EAU are being negotiated.


 


III.
DURATION OF THE RENTAL


 


The duration
of this contract is 12 months and takes effect on Monday, August 16, 2021. The rental contract is renewable by mutual agreement.


 


IV. RENTAL
PRICE


 


The Parties
have agreed to set the rent at 10,000€ Ten Thousand Euros per month for the entire term of the rental.


 


Rental is predicated on comfortable
and clean sleeping arrangements, working electricity, hot water, and comfortable meal services, according to international 4 star standards.


 


V. RESERVATION


 


The
Lessee returns this contract initialed at the bottom of each page and signed, accompanied by the payment of a deposit of two
months’ rent.


 


This payment
will be made by bank transfer to the Lessor’s account or by bank check.

 






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VII.
SECURITY DEPOSIT


 


At the latest
when entering the premises, the Lessee will remit to the Lessor an amount of 10,000€ representing one month’s rent as a security
deposit intended to cover damage and / or degradation of the accommodation and of the furniture and furnishings. The accommodation caused
by the Lessee, as well as the loss of keys or objects.


 


The security
deposit will be returned to the Lessee within a maximum period of one month after his departure, minus, where applicable, the sums covering
damage and / or degradation of the accommodation and of the furnishings and objects of the accommodation caused by the Lessee, as well
as only the loss of keys or objects. The security deposit maybe constituted by the delivery of a deposit check signed to the order of
the Lessor that the latter will return subject to inventory and inventory conforming to the return of the keys.


 


VIII.
ASSIGNMENT AND SUB-LEASE


 


This rental
contract is concluded intuitu personae for the benefit of the only Lessee identified at the head of the contract.


 


Any assignment
of this lease, any total or partial subletting, any provision, even free, must be declared to the lessor for his agreement.


 


IX. INVENTORIES


 


An inventory
of the furniture made available are given to the Lessee when entering the accommodation.


 


An
inventory will be drawn up by the Parties at the end of the rental, each of them will keep a copy initialed and signed.


 


In
the absence of an inventory and / or inventory at the end of the rental or if the Lessee alone establishes the inventory and / or
inventory at the end of the rental, the absence of dispute by the Lessor within 48 hours of the end of the rental will be worth
restitution of the premises in good condition and full inventory.


 


X. OBLIGATIONS
OF THE LESSEE


 


- The Lessee
will use the rented accommodation, furniture and equipment peacefully according to the destination given to them by the lease and will
be liable for any damage and loss that may occur during the term of the contract in the premises of which it has exclusive enjoyment.

 






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- The Lessee will maintain the rented accommodation and return it to a good state of
cleanliness and rental repairs at the end of the contract. If objects appearing in the inventory are broken or damaged, the Lessor
may claim their replacement value.


 


- The Lessee may not exercise
any recourse against the Lessor in the event of theft and depredation in the leased premises.


 


- The lessee may not oppose the visit of the premises if the Lessor or his agent so
request.


 


XI. CANCELATION


 


The signing of the contract binds both parties irrevocably. No termination is possible without the written
consent of the parties. If the Lessee renounces the rental, he remains liable for the full rent. 


 


XII. FULL RIGHT TERMINATION


 


In the event of breach by the Lessee of one of the contractual obligations, this lease
will be terminated automatically.


 


This termination will take effect after a period of 48 hours after a simple summons by
registered letter or letter delivered by hand that has remained unsuccessful.


 


XV. DISPUTES


 


For the execution of these presents, the Lessor and the Lessee elect domicile in their respective
domiciles.


 


However, in the event of a dispute, if the amicable resolution is not successful, the
court of the place of residence of the Lessor will have sole jurisdiction.


 


This contract and its consequences are subject to Senegalese law. 


 


Signature preceded by the words “Read and approved” 


 


Made in DAKAR, the 13/08/21


 


		 
	The Lessor	 
	 	The Taker

      Chairman & CEO
African Agriculture, Inc.



 






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