Document:

Exhibit 10.16

Exhibit 10.16

LEASE AGREEMENT

This lease agreement (hereinafter, “the Agreement”) is entered into by and between:

(i) MONGIANA LTDA, NIT [Tax ID] No. 900.110.098-8, a company duly incorporated by means
of notarial deed No. 2834 of September 22, 2006, registered with notary’s office No. 35
of Bogotá circuit, as evidenced by the certificate of legal existence and representation
issued by the Bogotá Chamber of Commerce, enclosed herewith, duly empowered to execute
this agreement pursuant to the minutes of Shareholders’ Meeting No. 18 held on January
12, 2011, with offices in Bogotá D.C. for the purposes of this agreement, herein
represented by JAIRO ANTONIO RINCÓN MORALES, as identified below his signature, acting in
his capacity as legal representative of the company, as evidenced by the Certificate
Legal Existence and Representation issued by the Bogotá Chamber of Commerce, hereinafter
referred to as LESSOR; and,

(ii) IGNACIO CARIDE, of age, residing at Bogotá D.C., holder of Foreigner ID Card No.
364610 issued in Bogotá, herein acting in his capacity as manager and legal
representative of MERCADOLIBRE COLOMBIA S.A. (NIT No. 830067394-6), a company duly
incorporated by means of notarial deed No. 0000204 of February 7, 2000, registered with
Notary’s Office No. 36 of the Bogotá circuit, as evidenced by the certificate of legal
existence and representation issued by the Bogotá Chamber of Commerce, enclosed herewith,
duly empowered to execute this agreement pursuant to the minutes of Board of Director’s
Meeting No. 25 held on February 17, 2009, hereinafter referred to as LESSEE;

pursuant to the following terms and conditions and, absent a contractual provision, to
the law applicable to this kind of agreement.

WHEREAS

1. LESSOR built the CITY BUSINESS Project (hereinafter, the “Project”) located in the
city of Bogotá at Transversal 23 No 97-73, on the lot identified in Real Estate
Registration Sheet [Folio de Matrícula Inmobiliaria] No. 50C- 1685921, with a total area
of THREE THOUSAND, NINE HUNDRED AND FIFTY-NINE SQUARE METERS (3,959.00 m2).

2. LESSEE will engage in the construction of the second stage of the Project
(hereinafter, “the Second Stage”), which will be architecturally integrated with
the CITY BUSINESS Project and governed by the terms and conditions of the current
Condominium Regulations, as amended and supplemented.

TERMS AND CONDITIONS:

SECTION 1. PURPOSE: LESSOR hereby undertakes to lease LESSEE the premises
specified below and, in turn, LESEE undertakes to pay LESSOR a monthly rent.

DESCRIPTION OF THE PREMISES: The premises subject to this lease agreement are the
following: SUITE FOUR HUNDRED AND FIVE (405) of the CITY BUSINESS Project, entitling
LESSEE to the use of EIGHT (8) PARKING SPACES, the numbers and location of which shall be
specified by LESSOR. These premises are comprised in the CITY BUSINESS PROJECT.

SUITE FOUR HUNDRED AND FIVE (405), FOURTH FLOOR (4th). Approximate area: Total Built
Area: five hundred and thirty-three meters and seventy-five centimeters (533.75 m2.)

A total of Eight (8) PARKING SPACES, each covering an approximate area of eleven square
meters (11.00 m2).

PARAGRAPH ONE: Irrespective of the distinction made regarding their area and boundaries,
the premises are leased as a single lot. Having visited the premises, LESSEE grants his
consent on this regard. _____________________________________

SECTION 2. ISSUES RELATED TO THE PROJECT’S CONDOMINIUM REGULATIONS:

2.1 In addition to the Suite described in Section 1 above, the rights and duties of
LESSEE fall within the scope of this Agreement as established in the Condominium
Regulations contained in Notarial Deed No. 2318 of August 6, 2009, which sets forth the
condominium ownership rules.

 

 

 

Through the execution of this lease agreement, LESSEE acknowledges LESSOR’s exclusive
right over the project’s name as well as its reserved right to modify the name during the
term of execution of the works as the project may require it.

2.2 LESSEE hereby accepts with no objections the entire Condominium Regulations drafted
in connection with these premises by LESSOR in its capacity as owner, and undertakes to
abide by them in full, as well as to strictly comply with the duties imposed on him under
such regulations, in particular, to pay regular common expenses in due time, pro rata to
its percentage share as specified by LESSOR.

SECTION 3. PURCHASE OF THE PREMISES: LESSOR purchased the premises on which the
Project was built as specified below:

El Lote de Terreno sobre el que se levantaran las obras contractivas de “Plaza 100 —
Centro de Negocios”, del cual hará(n) parte la (las) Unidades Privadas prometido(s) en
venta, fue adquirido por LA PROMETIENTE VENDEDORA por compra realizada de cuatro (4)
Lotes de la siguiente forma: (i) Lote doce (12) de la Manzana cincuenta y seis (56) a la
sociedad BOCACOLINA S.A. mediante escritura pública numero seiscientos cuatro (604) del
veintiocho (28) de febrero de dos mil siete (2007) otorgada en la Notaría Treinta y Cinco
(35) de Bogotá D.C.. (ii) Lote dos (2) Manzana cincuenta y seis (56) a la sociedad
INVERSIONES BOYSI LTDA, mediante escritura pública número seiscientos tres (603) del
veintiocho (28) de febrero de dos mil siete (2007) otorgada en la Notaría Treinta y Cinco
(35) de Bogotá D.C.. (iii) Lote seis (6) Manzana cincuenta y seis (56) a la sociedad
PRADO ALTO LTDA mediante escritura pública numero dos mil novecientos ochenta y ocho
(2.988) del tres (3) de octubre de dos mil seis (2006), otorgada en la Notaría Treinta y
Cinco (35) de Bogotá D.C.. (iv) Lote cuatro (4) de la Manzana cincuenta y seis (56) a la
sociedad PRADO ALTO LTDA, mediante escritura pública número dos mil novecientos ochenta y
siete (2.987) del tres (3) de octubre de dos mil seis (2006) otorgada en la Notaría
Treinta y Cinco (35) de Bogotá D.C., lotes que posteriormente fueron englobados mediante
Escritura Pública número mil seiscientos cincuenta y cuatro (1.654) del dieciocho (18) de
mayo de dos mil siete (2007), otorgada en la Notaría Treinta y Cinco (35) de Bogotá D.C.

El Lote de Terreno sobre el que se levantaran las obras contractivas de “Plaza 100 —
Centro de Negocios”, del cual hará(n) parte la (las) Unidades Privadas prometido(s) en
venta, fue adquirido por LA PROMETIENTE VENDEDORA por compra realizada de cuatro (4)
Lotes de la siguiente forma: (i) Lote doce (12) de la Manzana cincuenta y seis (56) a la
sociedad BOCACOLINA S.A. mediante escritura pública numero seiscientos cuatro (604) del
veintiocho (28) de febrero de dos mil siete (2007) otorgada en la Notaría Treinta y Cinco
(35) de Bogotá D.C.. (ii) Lote dos (2) Manzana cincuenta y seis (56) a la sociedad
INVERSIONES BOYSI LTDA, mediante escritura pública número seiscientos tres (603) del
veintiocho (28) de febrero de dos mil siete (2007) otorgada en la Notaría Treinta y Cinco
(35) de Bogotá D.C.. (iii) Lote seis (6) Manzana cincuenta y seis (56) a la sociedad
PRADO ALTO LTDA mediante escritura pública numero dos mil novecientos ochenta y ocho
(2.988) del tres (3) de octubre de dos mil seis (2006), otorgada en la Notaría Treinta y
Cinco (35) de Bogotá D.C.. (iv) Lote cuatro (4) de la Manzana cincuenta y seis (56) a la
sociedad PRADO ALTO LTDA, mediante escritura pública número dos mil novecientos ochenta y
siete (2.987) del tres (3) de octubre de dos mil seis (2006) otorgada en la Notaría
Treinta y Cinco (35) de Bogotá D.C., lotes que posteriormente fueron englobados mediante
Escritura Pública número mil seiscientos cincuenta y cuatro (1.654) del dieciocho (18) de
mayo de dos mil siete (2007), otorgada en la Notaría Treinta y Cinco (35) de Bogotá D.C.

El Lote de Terreno sobre el que se levantaran las obras contractivas de “Plaza 100 —
Centro de Negocios”, del cual hará(n) parte la (las) Unidades Privadas prometido(s) en
venta, fue adquirido por LA PROMETIENTE VENDEDORA por compra realizada de cuatro (4)
Lotes de la siguiente forma: (i) Lote doce (12) de la Manzana cincuenta y seis (56) a la
sociedad BOCACOLINA S.A. mediante escritura pública numero seiscientos cuatro (604) del
veintiocho (28) de febrero de dos mil siete (2007) otorgada en la Notaría Treinta y Cinco
(35) de Bogotá D.C.. (ii) Lote dos (2) Manzana cincuenta y seis (56) a la sociedad
INVERSIONES BOYSI LTDA, mediante escritura pública número seiscientos tres (603) del
veintiocho (28) de febrero de dos mil siete (2007) otorgada en la Notaría Treinta y Cinco
(35) de Bogotá D.C.. (iii) Lote seis (6) Manzana cincuenta y seis (56) a la sociedad
PRADO ALTO LTDA mediante escritura pública numero dos mil novecientos ochenta y ocho
(2.988) del tres (3) de octubre de dos mil seis (2006), otorgada en la Notaría Treinta y
Cinco (35) de Bogotá D.C.. (iv) Lote cuatro (4) de la Manzana cincuenta y seis (56) a la
sociedad PRADO ALTO LTDA, mediante escritura pública número dos mil novecientos ochenta y
siete (2.987) del tres (3) de octubre de dos mil seis (2006) otorgada en la Notaría
Treinta y Cinco (35) de Bogotá D.C., lotes que posteriormente fueron englobados mediante
Escritura Pública número mil seiscientos cincuenta y cuatro (1.654) del dieciocho (18) de
mayo de dos mil siete (2007), otorgada en la Notaría Treinta y Cinco (35) de Bogotá D.C.

El Lote de Terreno sobre el que se levantaran las obras contractivas de “Plaza 100
 — Centro de Negocios”, del cual hará(n) parte la (las) Unidades Privadas prometido(s) en
venta, fue adquirido por LA PROMETIENTE VENDEDORA por compra realizada de cuatro (4)
Lotes de la siguiente forma: (i) Lote doce (12) de la Manzana cincuenta y seis (56) a la
sociedad BOCACOLINA S.A. mediante escritura pública numero seiscientos cuatro (604) del
veintiocho (28) de febrero de dos mil siete (2007) otorgada en la Notaría Treinta y Cinco
(35) de Bogotá D.C.. (ii) Lote dos (2) Manzana cincuenta y seis (56) a la sociedad
INVERSIONES BOYSI LTDA, mediante escritura pública número
seiscientos tres (603) del veintiocho (28) de febrero de dos mil siete (2007)
otorgada en la Notaría Treinta y Cinco (35) de Bogotá D.C.. (iii) Lote seis (6) Manzana
cincuenta y seis (56) a la sociedad PRADO ALTO LTDA mediante escritura pública numero dos
mil novecientos ochenta y ocho (2.988) del tres (3) de octubre de dos mil seis (2006),
otorgada en la Notaría Treinta y Cinco (35) de Bogotá D.C.. (iv) Lote cuatro (4) de la
Manzana cincuenta y seis (56) a la sociedad PRADO ALTO LTDA, mediante escritura pública
número dos mil novecientos ochenta y siete (2.987) del tres (3) de octubre de dos mil
seis (2006) otorgada en la Notaría Treinta y Cinco (35) de Bogotá D.C., lotes que
posteriormente fueron englobados mediante Escritura Pública número mil seiscientos
cincuenta y cuatro (1.654) del dieciocho (18) de mayo de dos mil siete (2007), otorgada
en la Notaría Treinta y Cinco (35) de Bogotá D.C.

 

 

 

El Lote de Terreno sobre el que se levantaran las obras contractivas de “Plaza 100
 — Centro de Negocios”, del cual hará(n) parte la (las) Unidades Privadas prometido(s) en
venta, fue adquirido por LA PROMETIENTE VENDEDORA por compra realizada de cuatro (4)
Lotes de la siguiente forma: (i) Lote doce (12) de la Manzana cincuenta y seis (56) a la
sociedad BOCACOLINA S.A. mediante escritura pública numero seiscientos cuatro (604) del
veintiocho (28) de febrero de dos mil siete (2007) otorgada en la Notaría Treinta y Cinco
(35) de Bogotá D.C.. (ii) Lote dos (2) Manzana cincuenta y seis (56) a la sociedad
INVERSIONES BOYSI LTDA, mediante escritura pública número seiscientos tres (603) del
veintiocho (28) de febrero de dos mil siete (2007) otorgada en la Notaría Treinta y Cinco
(35) de Bogotá D.C.. (iii) Lote seis (6) Manzana cincuenta y seis (56) a la sociedad
PRADO ALTO LTDA mediante escritura pública numero dos mil novecientos ochenta y ocho
(2.988) del tres (3) de octubre de dos mil seis (2006), otorgada en la Notaría Treinta y
Cinco (35) de Bogotá D.C.. (iv) Lote cuatro (4) de la Manzana cincuenta y seis (56) a la
sociedad PRADO ALTO LTDA, mediante escritura pública número dos mil novecientos ochenta y
siete (2.987) del tres (3) de octubre de dos mil seis (2006) otorgada en la Notaría
Treinta y Cinco (35) de Bogotá D.C., lotes que posteriormente fueron englobados mediante
Escritura Pública número mil seiscientos cincuenta y cuatro (1.654) del dieciocho (18) de
mayo de dos mil siete (2007), otorgada en la Notaría Treinta y Cinco (35) de Bogotá D.C.

El Lote de Terreno sobre el que se levantaran las obras contractivas de “Plaza 100
 — Centro de Negocios”, del cual hará(n) parte la (las) Unidades Privadas prometido(s) en
venta, fue adquirido por LA PROMETIENTE VENDEDORA por compra realizada de cuatro (4)
Lotes de la siguiente forma: (i) Lote doce (12) de la Manzana cincuenta y seis (56) a la
sociedad BOCACOLINA S.A. mediante escritura pública numero seiscientos cuatro (604) del
veintiocho (28) de febrero de dos mil siete (2007) otorgada en la Notaría Treinta y Cinco
(35) de Bogotá D.C.. (ii) Lote dos (2) Manzana cincuenta y seis (56) a la sociedad
INVERSIONES BOYSI LTDA, mediante escritura pública número seiscientos tres (603) del
veintiocho (28) de febrero de dos mil siete (2007) otorgada en la Notaría Treinta y Cinco
(35) de Bogotá D.C.. (iii) Lote seis (6) Manzana cincuenta y seis (56) a la sociedad
PRADO ALTO LTDA mediante escritura pública numero dos mil novecientos ochenta y ocho
(2.988) del tres (3) de octubre de dos mil seis (2006), otorgada en la Notaría Treinta y
Cinco (35) de Bogotá D.C.. (iv) Lote cuatro (4) de la Manzana cincuenta y seis (56) a la
sociedad PRADO ALTO LTDA, mediante escritura pública número dos mil novecientos ochenta y
siete (2.987) del tres (3) de octubre de dos mil seis (2006) otorgada en la Notaría
Treinta y Cinco (35) de Bogotá D.C., lotes que posteriormente fueron englobados mediante
Escritura Pública número mil seiscientos cincuenta y cuatro (1.654) del dieciocho (18) de
mayo de dos mil siete (2007), otorgada en la Notaría Treinta y Cinco (35) de Bogotá D.C.

(i) Lot twelve (12) of Block fifty-six (56) from BOCACOLINA S.A. through notarial deed
No. six hundred and four (604) of February 28, 2007, registered with Notary’s Office No.
Thirty-Five (35) in Bogotá D.C.

(ii) Lot two (2) of Block fifty-six (56) from INVERSIONES BOYSI LTDA through notarial
deed No. six hundred and three (603) of February 28, 2007, registered with Notary’s
Office No. Thirty-Five (35) in Bogotá D.C.

(iii) Lot six (6) of Block fifty-six (56) from PRADO ALTO LTDA through notarial deed No.
two thousand, nine hundred and eighty-eight (2988) of October 3, 2006, registered with
Notary’s Office No. Thirty-Five (35) in Bogotá D.C.

(iv) Lot four (4) of Block fifty-six (56) from PRADO ALTO LTDA through notarial deed No.
two thousand, nine hundred and eighty-seven (2987) of October 3, 2006, registered with
Notary’s Office No. Thirty-Five (35) in Bogotá D.C. These lots where later joined by
means of Notarial Deed No. one thousand, six hundred and fifty-four (1654) of May 18,
2007, registered with Notary’s Office No. Thirty-Five (35) in Bogotá D.C.

El Lote de Terreno sobre el que se levantaran las obras contractivas de “Plaza 100
 — Centro de Negocios”, del cual hará(n) parte la (las) Unidades Privadas prometido(s) en
venta, fue adquirido por LA PROMETIENTE VENDEDORA por compra realizada de cuatro (4)
Lotes de la siguiente forma: (i) Lote doce (12) de la Manzana cincuenta y seis (56) a la
sociedad BOCACOLINA S.A. mediante escritura pública numero seiscientos cuatro (604) del
veintiocho (28) de febrero de dos mil siete (2007) otorgada en la Notaría Treinta y Cinco
(35) de Bogotá D.C.. (ii) Lote dos (2) Manzana cincuenta y seis (56) a la sociedad
INVERSIONES BOYSI LTDA, mediante escritura pública número seiscientos tres (603) del
veintiocho (28) de febrero de dos mil siete (2007) otorgada en la Notaría Treinta y Cinco
(35) de Bogotá D.C.. (iii) Lote seis (6) Manzana cincuenta y seis (56) a la sociedad
PRADO ALTO LTDA mediante escritura pública numero dos mil novecientos ochenta y ocho
(2.988) del tres (3) de octubre de dos mil seis (2006), otorgada en la Notaría Treinta y
Cinco (35) de Bogotá D.C.. (iv) Lote cuatro (4) de la Manzana cincuenta y seis (56) a la
sociedad PRADO ALTO LTDA, mediante escritura pública número dos mil novecientos ochenta y siete
(2.987) del tres (3) de octubre de dos mil seis (2006) otorgada en la Notaría Treinta y
Cinco (35) de Bogotá D.C., lotes que posteriormente fueron englobados mediante Escritura
Pública número mil seiscientos cincuenta y cuatro (1.654) del dieciocho (18) de mayo de
dos mil siete (2007), otorgada en la Notaría Treinta y Cinco (35) de Bogotá D.C.

 

 

 

SECTION 4. TERM AND RENEWAL:

INITIAL TERM: THREE (3) YEARS.________________________

EFFECTIVE DATE: February 1, 2011. _______________________

TERMINATION DATE: January 31, 2014. ____________________

SOLE PARAGRAPH: LESSOR shall deliver to LESSEE the suite subject to this lease agreement
on February 1, 2011, for its refurbishment and maintenance. Nonetheless,
performance of the agreement shall be enforceable sixty (60) days thereafter, i.e. April
1, 2011.

RENEWAL: Upon expiration of the initial term, and absent a notice from LESSOR informing
LESSEE of its decision not to extend the agreement, this agreement shall be automatically
renewed for equal periods, and the rent shall increase by the percentage established in
Section 6 hereof. _______________________________________________

PARAGRAPH ONE: Every warranty and provision set forth in this agreement shall survive
during the renewal and until termination hereof, except as regards rent increase, which
shall be governed by Section 6 below. Notwithstanding the foregoing, if necessary, LESSOR
may call a meeting with LESSEE within the first month of each renewed period, if
applicable, in order to provide for new issues in connection with the
agreement. _______________________________________________

SECTION 5. MONTHLY RENT: The monthly rent agreed upon by the parties applicable to the
first twelve (12) months hereof for the entire premises leased (suite and parking spaces,
pursuant to Section 1 above), shall be TWENTY-SIX MILLION, SIX HUNDRED AND EIGHTY-SEVEN
THOUSAND, FIVE HUNDRED PESOS (COP 26,687,500.00), COLOMBIAN LEGAL TENDER, which equals
fifty thousand Colombian Pesos (COP 50,000) for each square meter of the suite. The
applicable VAT shall be added to this amount.

PARAGRAPH ONE: LESSEE shall pay the monthly rent to LESSOR in accordance with this
Section upon submission of an invoice, within the first ten (10) days of each month upon
receipt of the purchase invoice.

PARAGRAPH TWO: On the date of execution of this lease agreement, LESSEE paid LESSOR the
amount of TWENTY-SIX MILLION, SIX HUNDRED AND EIGHTY-SEVEN THOUSAND, FIVE HUNDRED PESOS
(COP 26,687,500.00) IN COLOMBIAN LEGAL TENDER. LESSOR hereby acknowledges receipt of such
amount plus the applicable VAT.

This amount pertains to ONE (1) monthly rent, as down payment of the amount payable by
LESSEE to LESSOR from April 1, 2011, which shall be charged to the first month of the
lease, that is, until May 1, 2011.

SECTION 6. RENT INCREASE: _____________________________________

SOLE PARAGRAPH: The same increase procedure shall apply in the event of renewal of the
agreement. Additional points shall be specified within the first month of each renewed
period. _________________________

SECTION 7. PAYMENT PLACE AND TIME: LESSEE hereby undertakes to pay the rent in advance,
within the first ten (10) days following receipt of the invoice each month, during the
entire term of this Agreement and any subsequent renewals hereof, through a deposit or
wire transfer to checking account No. 384-00297-8 held by MONGIANA LTDA with Banco de
Bogotá. ______________

LATE PAYMENT INTEREST: In the event of delay in payment of the rent in the manner and
within the term set forth in this Section, LESSEE shall acknowledge and pay late payment
interest accrued durng the term of delay, at the highest legal commercial rate provided
in Section 884 of the Commercial Code, as amended by Section 111 of Law No. 510, enacted
in 1999. Notwithstanding the foregoing, LESSOR may commence any legal actions as it may
be entitled to by virtue of this agreement and under the law.

 

 

 

SECTION 8. SCOPE OF THE WORKS: LESSOR shall deliver the premises subject to this lease
agreement to LESSEE with all their appurtenances, rights of use and easements, shell and
core, with the following specifications: skim-plastered, coated or filled walls, as the
case may be, with a coat of vinyl paint, as a sole, undivided room (each), with an
aluminum structure to support ceilings, with utilities and smoothed-down though not
leveled floors.

Additional electric, water and telephone internal installations other than the items that
LESSOR shall deliver under this agreement, as well as any other additional finishing
works, including floor finishing, shall be borne and performed directly by LESSEE. To
such end, LESSEE hereby undertakes to fully abide by the architectural, structural,
hydraulic and electric design of the Building. LESSEE hereby acknowledges that the
Building has been designed to support light internal walls and, thus, undertakes not to
build masonry of any kind inside the office. Consequently, only drywall and/or light
divisions may be built.

PARAGRAPH ONE: LESSEE acknowledges that the premises subject to this lease agreement
pertain to the First Stage of the Project and that a Second Stage will be developed as
well, which will be integrated to the First Stage. Accordingly, LESSEE hereby consents to
any inconveniences which this situation may entail, such as noise, dust and the presence
of construction workers, but which may not affect the regular use of the office and
parking spaces leased.

PARAGRAPH TWO: LESSEE hereby expressly represents knowing and accepting the Building’s
plans and, specifically, those pertaining to the premises he will receive in lease,
including their location, boundaries, adjoining lots, area, dimensions and other
specifications, and not having any doubts or objections in this regard. Based on the
knowledge thus acquired, LESSEE further declares to be satisfied and accepts, in any
case, the final boundaries, area and dimensions.

SECTION 9. DELIVERY: LESSOR shall surrender mere possession of the premises on February
1, 2011, upon submission by LESSEE of the proof of payment of the relevant insurance
policy and in accordance with the conditions set forth in the document executed at that
time.

The parties hereto agree that LESSOR shall be released from its duty to comply with the
term set to deliver the premises upon the occurrence of certain events, including but not
limited to: labor strike or halt of activities, circumstances attributable to third
parties, force majeure events or acts of God, among others. Should any of these events
occur, the term set herein to deliver the premises shall be extended for the as long as
the above circumstances last. LESSOR shall inform LESSEE of the new delivery date through
a written notice sent to the address indicated below.

SECTION 10. USE OF THE PREMISES: The premises subject to this agreement shall only be
used to set up offices, in accordance with the standards set forth by the Administration
Body of the CITY BUSINESS Project. ____________________________

PARAGRAPH ONE: LESSEE undertakes to carry out, at his own expense, every necessary
procedure before the District’s agencies and authorities in order to commence the
operation of its business in the premises. In turn, LESSOR guarantees that the competent
public authority has duly authorized the use of the building where the premises subject
to this Agreement are located, as well as of the premises themselves, for the purpose of
installing business offices.

PARAGRAPH TWO: LESSEE undertakes not to change the use established herein and not to
sublet or assign, whether in whole or in part, neither the use and enjoyment of the
leased premises nor the rights and duties arising from the agreement, without the prior
written consent of LESSOR.

SECTION 11. ASSIGNMENT AND SUBLETTING: LESSEE may only assign, in whole or in
part, his rights and duties under this agreement or sublet, in whole or in part, the
premises subject to this agreement with the prior express consent of LESSOR.

LESSOR may assign in whole or in part his rights arising from this agreement. This
assignment shall be effective against LESSEE from the date a written notice is served
informing him of the assignment. LESSEE hereby undertakes to comply with his duties
towards the assignee from the date the assignment is notified to him in writing to the
address indicated herein.

SOLE PARAGRAPH: Failure to comply with this Section shall be deemed to infringe LESSOR’s
rights. _________________

 

 

 

SECTION 12. UTILITIES AND ADMINISTRATION: LESSEE hereby represents that the Project has
an individual meter system for the supply of Electric Power. As regards the Water and
Sewage services, there are common meters; thus, the cost of the services shall be billed
and/or calculated pro rata with the monthly payment of the administration fee. With
regard to the ordinary administration expenses, the amount due shall be wired directly to
the company appointed for such purpose. This amount shall include the monthly fees for
the Parking Lot surveillance and operation services, in proportion to the parking spaces
pertaining to the suite subject to this Agreement.

PARAGRAPH ONE: Under no circumstances shall LESSOR be responsible for any delay by
District Companies in the installation of this or other services.
_______________________________________________

PARAGRAPH TWO: LESSEE shall bear the costs of any damage caused by public utility
companies at any time due to regulation violations attributable to LESSEE, as well as the
cost of any reconnection and, in general, any expenses incurred in this regard. LESSOR
shall under no circumstances be liable for any deficiencies in the services which the
premises are entitled to receive, for which the pertaining public companies shall be
responsible, nor for the payment of any excessive amounts arising from the calculation of
such services. In the event that LESSEE does not pay the public services related to the
premises subject to this agreement, LESSOR shall notify LESSEE requiring him to comply
with his duties. LESSEE hereby expressly waives the right to be notified by a court and
accepts liability for any amounts disbursed by LESSOR in this regard. LESSEE shall
further bear the cost of the public services provided from the date of delivery of the
premises, as well as the administration fees. In order to calculate these payments, the
billing periods established by utility companies shall be taken into account in addition
to the delivery date. LESSEE shall exclusively bear the cost of water, sewage, electric
power and other services related to the premises from the date of
delivery thereof. ________________

PARAGRAPH THREE: LESSEE may not request on behalf of LESSOR telephone services, cable TV
or related subscriptions, phone book or newspaper advertisements and, in general, any
services charged to the premises, without prior, express, written consent from LESSOR.
Failure to comply with this Section shall amount to breach of this lease agreement,
entitling LESSOR to commence the relevant legal proceedings. It is hereby expressly set
forth that, from this moment, the parties shall not share the costs of these items,
insofar as these services shall be clearly received, requested and installed at the
expense of LESSEE. On the date the premises are returned due to the termination of this
lease agreement, on any grounds, LESSEE shall surrender the relevant proofs of payment
and of the effective transfer of any lines and services in his name, thereby rendering
the suite free from any charges on those accounts.
_____________________________________

PARAGRAPH FOUR: LESSEE undertakes to submit on a quarterly basis the receipts proving
payment of the relevant public services.
_____________________________________________

SECTION 13. REPAIR WORKS AND IMPROVEMENTS TO THE PREMISES: LESSEE undertakes to perform
at his own expense any repairs needed on account of the lease and those necessary due to
circumstances attributable to him or to his employees. LESSEE may not make any
modification or improvement to the leased premises without LESSOR’s prior written
consent. For this purpose, LESSEE shall enclose the relevant plans to his request. Should
LESSOR authorize any improvements, such improvements may only be removed upon termination
of the agreement insofar as LESSEE restores the premises to their original physical
conditions, with the consent of LESSOR’s representative or any person appointed thereby.
If the premises are likely to get damaged by the removal of the improvements made, these
improvements shall remain with the premises and LESSEE shall leave them without being
entitled to claim any compensation from LESSOR. Necessary repair works shall be borne by
LESSOR pursuant to Section 1985 of the Civil Code.
___________________________________

SECTION 14. RETURN OF THE PREMISES: In the event that the agreement is not renewed,
LESSEE shall return the premises upon termination of the agreement, which is hereby
initially established to occur on January 31, 2014, or upon termination of the agreement
on any grounds, in accordance with the following provisions:
________________________________

1. LESSEE shall be completely current in his obligations, especially in those related to
rent payment, late payment interest, if any, utilities and any other
pertaining item. ________________________

2. LESSEE shall return the premises in the same conditions they currently are, together
with any items installed and electric, water, sanitary and telephone devices in good
working conditions; in general, in the same conditions they were received except for the
normal wear and tear resulting from the activities carried out by
LESSEE. ____________________

3. LESSEE undertakes to pay any amounts accrued albeit not billed for any utilities used
as of the date of return of the premises due to the termination of this agreement. LESSEE
shall pay these amounts upon submission of the relevant invoices
and/or bills. _____________________

4. Acknowledgements of debt or payment in premiums or good will shall not be accepted.
______________________

SOLE PARAGRAPH. MOVINGS: In order to move, LESSEE shall be current in every account with
respect to LESSOR. ___________

 

 

 

15.1 LESSEE’S OBLIGATIONS: In addition to the obligations
set forth herein, LESSEE shall: __________

1. Notify LESSOR of any damage inflicted upon the premises that may pose a hazard to the
construction or the regular operation of the premises’
utilities. ______________________________________________________________

2. Perform any repair works required on account of the lease under the law, pay any
disinfection expenses or take such other measures aimed at restoring or preserving the
premises’ health and safety as required by the competent
authorities. _________________

3. Allow LESSOR or its representatives to inspect the premises at any time in order to
verify their conditions and preservation or other circumstances LESSOR may be concerned
about. To this end, the parties hereto shall agree upon the date and time of such
inspection a business day in advance, except in the event of a
verified emergency. _______________________________

4. Timely pay the amounts accrued on rent, utilities, damage caused to the premises, and
such other amounts arising under and during the life of this
agreement. ______________________________________________________________

5. LESSEE shall refrain from keeping explosive substances or any other element that may
pose a threat to the preservation, safety and health of the premises. LESSEE shall
further restrain from using the premises for any purposes prohibited by the law and the
Building’s condominium regulations. ______________________________________________________________

6. Abide by the CITY BUSINESS Project’s regulations, pursuant to the guidelines
established in the Building’s Condominium Regulations. ______________________________________________________________

15.2. LESSOR’S OBLIGATIONS:

1. Deliver
the leased premises to LESSEE. _______________________________

2. Guarantee LESSEE the use and enjoyment of the leased premises free from any disruption
or hindrance. __________________

SECTION
16. TERMINATION: This agreement may be terminated on the following grounds: _____________

1. LESSEE’s
immoral or outrageous behavior. _______________________________

2. Use of the premises for unlawful purposes or for any purpose other than the one set
forth herein. __________________

3. Failure by LESSEE to timely make one or more rent, utilities or any other kind of
payment due under this agreement. _________

4. Failure by LESSEE to comply with the initial term of the agreement or any renewal or
extension thereof. _____________

5. Mutual
agreement of the parties. _______________________________

6. Request by LESSOR or LESSEE at least six (6) months prior to the expiration of the
initial term or of any renewal.

No penalties or sanctions shall apply in this case and LESSEE shall
return the premises on the pertaining termination date. _________

7. Request by LESSEE with no statement of reasons at least three (3) months prior to the
date on which he desires to terminate the Agreement. No penalties or sanctions shall
apply in this case either.

8. Failure by LESSEE to submit the insurance policy provided for in Section 24 hereof
and, in the event of renewal of the agreement, failure to pay the
renewal of such policy. _______________________________

When applicable, any evidence liable to be submitted within the framework of summary
proceedings shall constitute sufficient evidence. ______________________________________________________________

SECTION 17. LIQUIDATED DAMAGES: Breach or violation by LESSEE of any of his duties under
this agreement shall entitle LESSOR to terminate the agreement and demand the return of
the premises by serving prior notice of demand for compliance within a term of at least
15 business days. Should LESSEE fail to remedy this breach, LESSEE shall pay LESSOR an
amount equal to three (3) current rent payments as of the date on which the breach
occurred by way of damages, irrespective of the amounts owed to LESSOR on account of
rent, late payment interest, utilities and damages that may result from the breach.

SECTION 18. POSSESSION: LESSEE hereby represents not having possessed the premises
subject to this agreement prior to the execution hereof.
_______________________________

SECTION 19. LIABILITY: LESSOR shall not be liable for any damage caused to third parties
or to LESSEE’s employees, nor for any theft or damage resulting from flooding, fire,
earthquakes, or any other cause.

 

 

 

SECTION 21. NOTICES OF DEMAND: Breach by any Party of any of the duties arising
from this Agreement shall entitle the non-breaching Party to declare the default of the
other Party after serving a written notice demanding compliance with the undertaken
obligations within a term of at least 15 business days. Should the breaching party not
comply with its duties during that term, it shall be deemed in default, in which case the
non-breaching Party shall be entitled to (i) demand compliance or (ii) terminate this
Agreement by operation of law, without resorting to the courts, by means of a simple
notice. The non-breaching Party shall at all times be entitled to receive compensation
for any damages sustained.

SECTION 22. The parties hereby agree that, if the agreement is not renewed,
LESSOR may put the premises up for lease and/or sale within the terms fixed for the
return of the premises. For this purpose, LESSEE shall allow any person duly authorized
by LESSOR to enter the premises upon prior notice, insofar as this does not interfere
with the regular use of the leased premises. _____________

SECTION 23. NOTICES: For any purpose related to the execution and performance
hereof, letters, notices and, in general, every piece of mail exchanged between the
parties shall be sent in writing to the following addresses:

LESSOR,

MONGIANA LTDA

Address: Cra 7 No. 156- 78 Piso 19

Ciudad Bogotá D.C.

Phone No.: 5 27 88 81

Fax No.: 5 57 59 62

LESSEE,

MERCADOLIBRE COLOMBIA S.A.

Address: Calle 93B No. 17-25 Ofc. 406,

Ciudad de Bogotá D.C.

Phone No.: 6213777 Ext. 406

SECTION 24. INSURANCE: LESSEE undertakes to take out and pay an insurance policy to
guarantee payment of the rent, administration fees and utilities during the term of the
agreement, from any Insurance Company chosen by LESSEE to the satisfaction of LESSOR.
Failure to submit the relevant policy within five (5) days from the date hereof shall be
construed as a breach by LESSEE of this lease agreement. Should the agreement be renewed,
the abovementioned policy shall also be renewed and/or extended. _______________________________

PARAGRAPH ONE: The company shall submit to LESSEE a quote for a new policy twenty (20)
days prior to the expiration of the policy purchased. Should the agreement be renewed,
LESSEE shall renew and/or extend the abovementioned policy and timely pay the pertaining
premium. LESSOR may only charge this amount in the relevant invoice.
______________________

SECTION 25. AMENDMENTS TO THE AGREEMENT: Any amendment or supplement to the
Agreement by mutual consent of the parties shall be made in writing in order to be valid,
for oral agreements shall bear no effects.

SECTION 26. ENTIRE AGREEMENT: This Agreement supersedes all prior written and
oral agreements and understandings between the parties over the premises hereby leased.
This Agreement contains the rights and duties of the parties and replaces any prior
understanding between the parties established in any other document and/or agreement.

SECTION 27. APPLICABLE LAW: The PARTIES hereto agree that this AGREEMENT shall be
governed by the laws of the Republic of Colombia.

 

 

 

SECTION 28. DISPUTE RESOLUTION: The parties hereto shall endeavor to solve any
disputes of any nature arising under or during the performance of this agreement,
including those related to contractual breaches, through dispute resolution proceedings
involving the parties themselves, such as accord and satisfaction or settlement
proceedings within thirty (30) calendar days from the date on which any party so requests
the other in writing, term which may be extended by mutual agreement. The parties hereto
shall exhaust these instances within the term set above before initiating any kind of
legal claim or submitting the claim to the ordinary competent courts of the city of
Bogotá.

El presente Contrato deja sin valor alguno cualquier estipulación o acuerdo que de
manera verbal o escrita hayan efectuado las partes sobre el inmueble aquí prometido en
arrendamiento, dejando en claro que este Contrato reúne las obligaciones y derechos de
las partes y reemplaza cualquier otra estipulación que se haya efectuado con anterioridad
en cualquier otro documento y/o contrato

	 	 	 
	LESSOR:

	 	LESSEE
	 
	 	 
	[Signature]

	 	[Signature]
	MONGIANA LTDA

	 	MERCADOLIBRE COLOMBIA S.A.
	JAIRO ANTONIO RINCÓN MORALES

	 	IGNACIO CARIDE
	ID No.: 17147223

	 	Foreign ID No.: 364610

[Seal:] Legal Department. Approved.Exhibit 10.18

Exhibit 10.18

NON-RESIDENTIAL LEASE AGREEMENT 

By this lawful private instrument the parties herby named and identified below, on one side, STM
SOCIEDADE TÉCNICA DE MONTAGENS LTDA, a company with its principal place of business in the City
of Barueri, state of São Paulo, at Av. Tamboré, no 1.180, Bloco C Administrativo, CEP:
06.460-000, duly enrolled with the National Register of Corporate Taxpayers (CNPJ/MF) under no
43.779.198/0001-66, herein represented as provided for in its articles of organization,
hereinafter referred to as LESSOR, and on the other side, MERCADOLIVRE.COM ATIVIDADES DE
INTERNET LTDA, a limited liability company, with its principal place of business in the city of
São Paulo, state of São Paulo, at Rua Gomes de Carvalho, no 1.306, 7o andar, enrolled with the
National Register of Corporate Taxpayers (CNPJ/MF) under no 03.361.252/0001-34, herein
represented as provided for in its articles of organization, by Mr. Stelleo Passos Tolda,
Brazilian, married, business administrator, resident and domiciled in the City of São Paulo,
State of São Paulo, with business offices at Rua Gomes de Carvalho, no 1.306, 7o andar, bearer of
Identity Card RG no 7.575.578-5 SSP/RJ, enrolled with the Individual Taxpayer Register (CPF/MF)
under no 628.676.707-48, hereinafter referred to as LESSEE, are in mutual agreement as
to this “Non-Residential Lease Agreement”, according to the terms and conditions which they
mutually accept and grant, to wit:

1. OBJECT

1.1. The object of this agreement is the leasing of the Commercial Property located at Av.
de Marte, no 489, lote 4 Unificado, Quadra 4, Centro de Apoio I Alphaville, in the municipality
of Santana do Parnaíba, State of São Paulo, according to plans and specifications contained in
attachments, and which are an integral part of this instrument.

1.2. LESSEE may, at its own expense, this not having been considered in setting the lease
amount, install and implant:

	 	a)	 	Private Automatic Branch Exchange (PABX);;

	 
	 	b)	 	Access controls, CCTV and security;

	 
	 	c)	 	Power stabilizers;

	 
	 	d)	 	Office furniture and dividers;

	 
	 	e)	 	Landscaping;

	 
	 	f)	 	Light fixtures;

	 
	 	g)	 	Ceiling linings;

	 
	 	h)	 	Floor covering; and

	 
	 	i)	 	Air Conditioning system (equipment, duct, frames, etc)

 

 

1.3. Additional facilities not included in the BASIC project, such as those described in
item 1.2 above, shall be on the sole account of LESSEE, which cannot claim any
reimbursement from LESSOR, nor retain the property at the end of the lease, but may,
however, remove the betterments and amenities eventually introduced by LESSEE, provided that the
removal thereof does not cause damage to the leased property, under clause 4.3.

2. DURATION

2.1. The term of this lease is four (4) years, starting on July 06th, 2010, date
of the effective delivery of the property by LESSOR to LESSEE.

2.2. LESSEE is assured of the right to renew the agreement for an equal term,
provided it exercises it, by informing its intention in writing to LESSOR, up to sixty
(60) days before the end of the term of duration of this agreement. The agreement having been
renewed, all the other terms and conditions agreed to herein shall remain unaltered, with the
exception of the increase in the amount of the rent, set forth in Clause 2.2.1 below.

2.2.1 The Parties hereby agree that, upon the occurrence of the renewal set forth in clause
2.2 above, the amount of the rent shall be increased by ten percent (10%), without prejudice to
the application of the adjustment for inflation set forth in clause 3.7.

2.3. In no event may LESSOR oppose the renewal of the lease agreement, save for contractual
non-performance through the sole fault of LESSEE, especially in the case of persistent
delay in payment of the rent set forth in clause 3.6.1.

2.4. The term of the lease having ended and LESSEE not having manifested interest in renewing
the Agreement, LESSEE undertakes to return the leased property, free of people or possessions, in
perfect maintenance and repair conditions, as it now receives it, without any damage or defects,
save for the natural wear of the asset resulting from the use of the Property, irrespective of any
judicial or extrajudicial formality.

3. RENT

3.1. The initial monthly rent shall be R$101.829,79 (One hundred and one thousand, eight
hundred twenty nine Reais and seventy nine cents) respecting the set forth in clause 3.1.1. once
the National Index of Civil Construction INCC of July, 2010 has not yet being published until the date of execution of
this agreement.

 

2

 

3.1.1. The initial monthly rent was established by applying, over the value of R$94.500,00
(ninety four thousand, five hundred Reais) the accumulated variation of the National Index of
Civil Construction (INCC) over the period from march 04, 2009 to July 30, 2010 as set forth in
the clause 5.1 of the Preliminary Contract. Considering that until the date do execution of the
present agreement it was not published the index for 2010, was calculated to its definition the
average percentage of the index published in last 12 (twelve) months considering that any
restatement, whether positive or negative, shall be made within 03 (tree) business days of the
publication of the index until then not disclosed.

3.2. LESSEE shall have a grace period for payment of the rent in the three (3) first months
of the lease, counted from the effective date of handing over the property.

3.3. The monthly rents shall be paid always on the third (3rd) business day of
the month following that of the respective past due monthly period, save with respect to the
first rent due to LESSOR, which shall be paid proportionally to the leasing period of the
prior month, by means of bank deposit in a current account to be indicated in due course by
LESSOR, and the settlement shall occur by means of the confirmation by the bank of the
effective credit to the account of the creditor.

3.3.1. The grace period set forth in clause 3.2 having passed, the first rent due to
LESSOR shall be paid proportionally to the lease period of the previous month.

3.4. After the due date of the rent and lease charges, a fine equivalent to ten percent
(10%) will be applied on the outstanding amount, calculated on the lease amount and charges due,
LESSEE also being subject to the application of daily adjustment for inflation by the
positive variation of the IGPM published by FGV and interest at the rate of one percent (1%) per
month, charged pro rata die.

3.5. The mere lack of payment of a rent, at the time agreed upon shall, in itself,
constitute default of LESSEE, irrespective of notification, judicial or extrajudicial
notice, and LESSOR shall have the right to file an EVICTION ACTION FOR LACK OF
PAYMENT, being obligated to pay, in addition to the amount due, all the costs, legal fees and
possible damages related to the property, in the event of vacancy.

 

3

 

3.6. Receiving the rents and other lease charges after the term, or for an amount lower than
that stipulated in this agreement, shall represent mere waiver by LESSOR, and in no case
shall constitute novation, renewal, or change in the contractual provisions.

3.6.1. Even if there is tolerance by LESSOR for delays in payment of the rent,
persistent delays in payment of the rent, considered as such more than five (05) occurrences
during the term of the agreement, shall be considered serious infringement and contractual
non-performance for all the purposes of this agreement.

3.7. The rent set in clause 3.1 above shall be adjusted with the minimum periodicity
established in law for leases of this nature, currently annual, as of the date of execution of
this agreement, which shall occur upon the effective handing over of the property, irrespective
of the date of its occupation, based on the positive variation of the General Market Prices Index
(IGPM), published by the Getúlio Vargas Foundation (FGV), or in the absence of such index,
another one shall be chosen that best reflects the inflation of the period.

3.8. Whenever the law reduces the minimum periodicity to apply the adjustments for leases of
the nature hereof, a new periodicity shall be automatically applied to this agreement, including
the possible application of monthly adjustment of the lease due.

3.9. The adjustment of the rent pursuant to the criteria above shall be automatic, waiving
any type of communication to LESSEE.

3.10. Upon the occurrence of rent adjustments, if up to the date of payment the applicable
index has not been disclosed, the rent shall be adjusted based on the accumulated variation of
the twelve (12) last indexes published, and the adjustment, whether positive or negative, shall
be made within three (3) business days of the publication of the index until then not disclosed.

4. DESTINATION OF THE LEASED PROPERTY

4.1. LESSEE may use the property for non-residential purposes, respecting the
structure of the property and the limitations determined by the legislation in force, zoning,
environmental, sound pollution and other regulations, all of which LESSEE is fully aware
of.

 

4

 

4.2. Any infraction, on the part of LESSEE, of the rules and limitations set forth
in the caption of this clause shall be considered a serious infringement, and cause for the
respective Ordinary Suit of Eviction for Contractual Infraction.

4.3. With the exception of the improvements already authorized by LESSOR, set forth
in clause 1.2 above, LESSEE may, on its own account and risk, introduce improvements or
make modifications in the property, with prior authorization in writing from LESSOR, with
the purpose of better adapting it to its activities, always, however, obeying the restrictions of
the legal regulations, it being certain that the necessary improvements shall be automatically
and immediately incorporated into the property, becoming a benefit to LESSOR, even if
they had been previously authorized in writing, and not causing any right to retention of the
property, or right of indemnification to LESSEE. The betterments and amenities may be
removed by LESSEE, provided that their removal does not cause damage to the leased property.

4.4. LESSOR cannot, however, upon the end or termination of the lease, require that
the improvements or modifications made to the property with its consent in writing, be removed at
the expense of LESSEE.

4.5. It is certain that, in the case of introduction of the referenced improvements, no
responsibility or burden shall accrue to LESSOR, whether with respect to the public
powers, or with respect to third parties, and LESSEE shall solely answer for them.

4.6. LESSEE is prohibited from changing the destination of the property stipulated
above, under pain of contractual termination and consequent payment of the fine established
herein.

5. RIGHTS AND OBLIGATIONS OF LESSOR AND LESSEE

5.1. As of the execution of this instrument, the following are obligations of
LESSEE, in addition to those already specified in this instrument: (a) pay, on the due
date, the respective leasing charges, listed in clauses 5.3 and 5.6 below, directly to the
collection bodies and to LESSOR; (b) use the property for the purposes established in
clause 4.1; (c) return the Property, upon the end of the lease, in the same conditions in which
it was received; (d) assume responsibility for the maintenance referring to the conservation of
the Property, under article 23 of Law 8.245/91, as well as those destined to replace its
habitability conditions, including but not limited to cleaning services of the leased property
and especially sanitary premises, maintenance of gardens and security services; (e) promptly
repair the damage caused to the Property or its facilities by
LESSEE or its employees, suppliers or users; (f) not change the internal or external
structural layout of the Property without the prior consent in writing by LESSOR; (g)
immediately deliver to LESSOR any summons, fines or notifications issued by the public
authorities with respect to the Property, even if addressed to LESSEE; (h) assume
responsibility for the facilities, cleaning, conservation and painting of the Property, including
for the hydraulic, electrical, mechanical and security equipment, as well as fire-fighting and
inspections by the fire department; and (i) maintain the leased property free of any
contamination or contingency that might characterize an environmental liability.

 

5

 

5.2. LESSEE declares being aware that it must request the competent Authorization of
Operation from the competent bodies, on its own account and risk, and LESSOR must supply
all the documentation that is necessary with respect specifically to the property.

5.3. LESSEE is responsible for paying the expenses related to public services
installed, insurance premiums and taxes directly related to the Property (electrical power, gas,
water, sewage), directly to the collection agents, sending the respective proof of payment to
LESSOR. This obligation remains even if such expenses are presented for payment after the
end of the lease, but still pertaining to the period in which it was in force.

5.4. In the event that payment of some of these taxes or fees is made through
LESSOR, LESSEE undertakes to pay the charges it is responsible for together with
the settlement of the monthly rent due, even if the due date of such fees only occurs during the
month it is charged by LESSOR.

5.5. In the same manner, all the fines and additions caused by LESSEE shall be paid
together with the rents, including those that may result from retention of notice of assessment
of taxes, fees and contributions for improvements.

5.6. LESSEE is also bound to pay, together with the rent, the condominium expenses,
the expenses charged by the land subdivision on which the property is located, as well as the
taxes, fees and charges related to the property.

5.7. LESSOR shall help LESSEE in obtaining with the competent bodies, the
bills for water, electricity and gas in the name of LESSEE. LESSEE is responsible for supplying
all the documentation necessary to obtain the water, electricity and gas bills in its name, and
LESSOR is responsible for supplying all the necessary documentation necessary related
specifically to the property. If there is any problem to obtain the bills for water, electricity
and gas, because of documentation or requirement related to the property, LESSOR undertakes to solve the problem with the competent bodies, under pain of contractual
non-performance.

 

6

 

5.8. LESSEE hereby receives the keys to the property, and declares having inspected,
according to the inspection report attached, and has verified that is suitable for the purpose
for which it is intended, and is in conformity with that agreed in this instrument, and
undertakes to return it to LESSOR in the same manner, upon the end of this lease, in the
most perfect order and conditions of use, save for the natural wear resulting from use, handing
it over, however, recently painted and completely free of people or possessions.

5.8.1 If, after handing over the property, there are problems found with the property,
LESSEE shall inform LESSOR so that the latter may immediately correct the faults
in the property, save if caused by action or omission of LESSEE, of its employees, suppliers and
users, or resulting from normal use of the property, act of God or force majeure. If
LESSOR does not make the corrections to the property within a time established by mutual
agreement between the Parties, LESSEE may have the repairs made by a person of its free
choice, and LESSOR shall be bound to pay for all the expenditures, duly adjusted for
inflation.

5.9. Upon the end of the lease and return of the property, if LESSOR verifies any
damage or defect in the same, it may refuse to receive the keys until LESSEE returns the
property to the conditions in which it was received, save for the natural wear of the asset
resulting from use, and the rent and other charges shall be on its account, until the
requirements of this agreement are fully satisfied.

5.10. The parties establish that, in the event of termination of the lease by LESSEE, during
the term of contractual validity, or after termination thereof, LESSEE must do so by means of
prior notice to LESSOR, at least ninety (90) days before the date of vacation, under pain of
bearing the rent of the respective period, without prejudice to the contractual fine in the
amount of 03 rents, which fine is proportional to the remaining period of the lease, under the
provisions of Law 8.245/91.

5.10.1. The prior notice established in clause 5.10, as well as the contractual fine, shall
not apply, in the event of normal termination of the agreement at the end of the term thereof.

5.11. LESSEE is bound to comply with, on its account, without the right to any
reimbursement or indemnification by LESSOR, all the determinations, requirements or legal
notices from the competent powers, with respect to the leased property, provided that such requirements are the responsibility of
LESSEE.

 

7

 

5.12. LESSEE hereby permits that LESSOR, by itself or through its proxy,
inspect or examine the leased property, whenever it deems necessary or convenient, but must,
however, schedule a day and time with LESSEE.

5.13. If the inspection detects damage to the facilities of the leased property caused by
LESSEE, LESSOR shall notify LESSEE, so that the latter may, within a maximum term
of five (05) days, effect the necessary repairs, with the respective expenses on the account of
LESSEE, under pain of, if not doing so, committing a contractual infraction causing
termination of the lease, with LESSEE being condemned to pay the contractual fine and the
other legal provisions.

5.14. LESSOR may, however, in the event of non-compliance with the terms of the
notification set forth in clause 5.13, without prejudice to termination of the agreement, have
the repairs made by a person of its free choice, and LESSEE shall be bound to pay for all
the expenditures made, duly adjusted for inflation, and with the addition of the penalties set
forth in this instrument.

5.15. LESSEE shall answer for the requirements of the Public Powers which it causes,
whether municipal, state or federal, whether because of eventual expressly authorized
modifications to the properties, or by reason of the activity exercised by it on the property,
assuming all the responsibilities incurred for this purpose.

5.16. VALIDITY CLAUSE: A validity clause of this agreement is hereby established, and it is
certain that in the case of sale of the property leased by LESSOR, this agreement shall
be respected during the entire term established in clause 2 above.

6. INSURANCE

6.1. LESSEE undertakes to reimburse LESSOR for the amounts disbursed by the
latter in contracting asset insurance for the Property, guaranteeing award for pecuniary damages
resulting from fire, lightning, explosion of any nature, windstorm, flood, hurricane, cyclone,
tornado, hail, smoke, impact of land vehicles and fall of aircraft, for an amount not lower than
the market value of the asset, with LESSOR, or whomever it expressly indicates, as the
beneficiary of the respective policies.

 

8

 

6.1.1. The asset insurance for the Property shall also encompass coverage for loss of rent
for a period of twelve (12) months, and LESSOR shall be responsible for payment of the
respective premium.

6.2. The obligation assumed by LESSEE under item 6.1 shall be maintained during the
entire term of the lease, including its possible extensions.

6.3. The value of the insured items and the respective amounts of the indemnifications
should be annually revalued according to the variation of the rent.

6.4. In the event of partial damage, LESSEE may continue using the Property. In this
event, it must manifest its intention in writing to LESSOR, interrupting payment of the
rent equivalent to the useful area of the Property that was rendered useless, and the difference
between the amount to be paid by LESSEE and the amount of the rent shall be covered by
the insurance set forth in clause 6.1. above, immediately after occurrence of the damage.

6.5. In the case of total damage, the parties may agree to maintain the agreement, without
payment of the rents during the period of reconstruction, and also, in this event, guaranteeing
to either of the parties the possibility of termination of the agreement without any penalty
whatsoever.

6.6. Total damage having occurred, and the Insurance Company not having paid the
indemnification to LESSOR on the grounds that the occupation of the Property was
irregular, for not having observed the conditions of the respective policy, or not having
observed the municipal, state and/or federal regulations applicable to the Property in order to
permit the regular exercise of the activities of LESSEE as set forth in this Agreement,
with the exception of the cases proven to result from defects of construction of the Property,
LESSEE shall reimburse the amounts necessary to replace the property to LESSOR,
except for the right of recourse of LESSEE against the Insurance Company.

7. ASSIGNMENT AND SUBLEASING

7.1. LESSEE is hereby expressly prohibited from subleasing or lending, in whole or in
part, the leased property, as well as assigning or transferring this agreement, without the consent
in writing by LESSOR.

 

9

 

7.2. LESSOR cannot refuse its consent in the event of subleasing to companies proved to belong
to the same economic group as LESSEE.

7.3. Subleasing is hereby expressly authorized to the companies: MERCADOPAGO.COM
REPRESENTAÇÕES LTDA., IBAZAR.COM ATIVIDADES DE INTERNET LTDA and EBAZAR.COM.BR LTDA.

8. FINE

8.1. If LESSEE voluntarily terminates this Agreement before the expiration of the
term set forth in clause 2.1. it shall pay to LESSOR, as pre-set damages, a fine to be
calculated on a prorated basis, according to the remaining period, in the maximum amount of three
(3) rents, as set forth in clause 3.1, without prejudice to the payment of the rents up to the
date of handing over the keys, and of the prior notice set forth in clause 5.10.

8.2. If the lease is terminated by LESSOR by virtue of non-compliance with any
contractual obligations of LESSEE, except the event set forth in clause 8.1, the latter
shall pay to LESSOR, as pre-set damages, a fine in the amount of three (3) rents, as set
forth in clause 3.1, observing the sending of prior notice at least ninety (90) days before the
date of payment of the indemnification and vacancy of the Property, it being clear that payment
of the fine does not waive payment of the rents up to the date of handing over the keys.

9. EVENTS OF DEFAULT

9.1. Irrespective of the provisions above, the innocent party shall be prohibited from
applying a penalty or terminating this instrument, unless (i) the innocent party has sent a
notice in writing to the defaulting party, notifying it of the contractual or legal violation,
and (ii) the defaulting party has not remedied the cause of the default within the period of
fifteen (15) days after having received such notice.

9.1.1. The notice and the term mentioned in clause 9.1. do not apply in the event of delay
in payment of the rent, the effects of which are set forth in clauses 3.4 and 3.5.

10. GENERAL PROVISIONS

10.1. In the case of expropriation of the property object of this agreement, LESSOR
is hereby discharged of any and all responsibility, reserving for LESSEE, the right to act only against the expropriating
power as to the indemnification it may perchance be entitled to.

 

10

 

10.2. If any amendment is made to LESSEE’s articles of incorporation that implies in
a change of control in its corporate structure, for a company that is not part of its Economic
Group, lessee shall within thirty (30) days of this occurrence, communicate this fact to
LESSOR, which reserves the right to continue or not with this lease, under pain of
characterization of contractual infringement and incurring the fine set forth in this agreement,
in addition to giving cause to its immediate termination, since such factors were considered by
LESSOR when executing this instrument. As being appropriate, it should be clarified that
LESSEE may make any and all corporate alterations among the companies of the same
economic group, and it is certain that changes of control with companies of the same corporate
group shall not be considered changes of control for the purposes of this clause 10.2.

10.3. Everything due on account of this agreement and that is not eligible for summary
process, shall be charged according to an executory process, without prejudice to a faster
judicial or extrajudicial suit or proceeding, in the forum of the domicile of property, with
waiver of any other, as privileged as it may be. In the case of court suit, the debtors shall be
liable for, in addition to the contractual fine and all the court expenses incurred, the fees of
the lawyer retained by the creditor to guarantee its rights, on the basis of twenty percent (20%)
of the amount of the award, reduced to ten percent (10%), if the debt is settled out of court.

10.4. Non-exercise by one of the parties of any of its powers or rights vested under this
Agreement shall not constitute a waiver by such party of such vested powers or rights, nor
constitute a contractual novation. Changes hereto shall only be made and be in full force and
effect after mutual agreement in writing by all the parties.

10.5. This lease is governed by Law no 8.245, of October 18, 1991.

10.6. The parties assume full civil and criminal responsibility for the representations made
herein.

10.7. LESSEE is hereby authorized to register this instrument with the competent
Real Estate Registry Office or Registry of Deeds and Documents, bearing all the expenses arising
from this act.

 

11

 

10.8. In the case of registration of this agreement by LESSEE, it shall further be
obliged to, at the end or termination of the lease,
immediately cancel it, at its expense. If it does not do so, and after being expressly
communicated by LESSOR to do so, within the period of thirty (30) days, then
LESSOR shall be automatically authorized to proceed with such cancellation with the
competent Real Estate Registry Office, and may recover from LESSEE the expenses related
to the cancellation of this registration.

10.9. If LESSEE abandons the property hereby leased, whether for its convenience, or
as a result of a court decision, LESSOR is hereby authorized to donate any assets
abandoned at the location to a charitable institution of its free choice.

11. NOTICES

11.1. All the notices, judicial notifications, services of process, summons and other
communications related to this instrument may be sent by means of correspondence with Notice of
Receipt (AR), or by other forms set forth in art. 58, subsection IV, of the Tenancy Law and in
the Code of Civil Procedure. In this respect, the parties undertake to communicate one to the
other, in writing, whenever there is a change of address, under pain of deeming received any
notification at the former address.

11.2. The parties establish as addresses for notices, undertaking to mutually communicate
changes, the following:

a) If to LESSOR:

Att. Mr. Ladislau Lancsarics Junior

Av. Tamboré, no 1180,

Tamboré, Barueri — SP

CEP 06460-000

b) If to LESSEE:

Att. Mr. Stelleo Passos Tolda

Rua Gomes de Carvalho n.1306 / 7o andar

Vila Olímpia — São Paulo — CEP:04547-005

Tel.: 11 3040-4189

Fax. 11 3040-4165

 

12

 

12. RIGHT OF FIRST REFUSAL

12.1. In the event of sale, commitment to sell, assignment or commitment to assign the
rights with respect to full title of the Property, LESSEE shall be responsible for
exercising the right of first refusal on
the same terms offered to third parties, and LESSOR shall inform LESSEE about the
intended operation by means of extrajudicial notification or by any other unequivocal means of
acknowledgment.

12.2. The communication set forth in clause 12.1 above shall specify all the terms of the
intended operation, and especially mention the price, the form of payment, as well as the place
and date for analysis of the pertinent documentation.

12.3. The right of first refusal forfeits if LESSEE does not express its total
acceptance of the proposal in an unequivocal manner within the period of ten (10) days.

12.4. Not having demonstrated interest in acquiring the property, LESSEE must permit
inspection of the same by interested third parties, on a day and time previously agreed, under
pain of characterization of contractual infringement.

13. GUARANTEE

13.1. LESSEE gives a single bond, in the amount of three (3) month rent, as
guarantee of compliance with the obligations set forth in this Agreement, including the
contractual adjustments that the rent may suffer, the legal and contractual penalties agreed to
in this instrument, any taxes, fees and other charges of the lease, and possible extension of the
lease. This amount shall be paid in cash, by means of a deposit to the account indicated by
LESSOR at the time of the execution of this instrument. Upon termination of this
agreement, LESSOR undertakes to return the bond to LESSEE, with the addition of
all the advantages resulting from being invested in a savings account since the date of the
payment until the month immediately prior to the termination of the agreement under the exact
terms of that provided in §2 of art. 37 of Law 8.245/91.

14. JURISDICTION

14.1. The contracting parties elect the forum of the domicile of the Property to settle any
doubts or disputes arising out of this Agreement, with express waiver o any other, as privileged
as it may be.

 

13

 

In witness whereof, being aware of and in agreement with all the terms and conditions of
this preliminary agreement, the parties, for themselves, their heirs and/or successors, execute
this instrument, in
three (03) counterparts of equal content and form, in the presence of the two undersigned
witnesses

	 	 	 	 	 	 	 	 	 
	São Paulo, July 06, 2010.	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	/s/ Herculano Pires	 	/s/ Stelleo Tolda
	 	 	 
	STM — SOCIEDADE TÉCNICA DE	 	MERCADOLIVRE.COM ATIVIDADES DE
	MONTAGENS LTDA	 	INTERNET LTDA
	 
	 	 	 	 	 	 	 	 
	Testemunhas:	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	1)

	 	/s/ Kalil José Sawaia Neto
	 	2)	 	 	 	/s/ Marco Aurélio Barbosa Vezzati
	 

	 	 
	 	 	 	 	 	 
	

	 	Nome:  Kalil José Sawaia Neto

RG.:8.574.510
	 	 	 	 	 	Nome: Marco Aurélio Barbosa Vezzati
RG.:6.327.761

 

14

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