2.1. The lease period for the Equipment shall begin from 20 Dec 2019 to 19 Dec 2020 (12 months) or any extensions agreed by the Parties in writing (the “Lease Period”). In the event the vessel cannot meet the project requirements regarding operation, including but not limited to technical, safety, statutory requirements, etc., and / or get permission from the Main Contractor and / or the Employer to work within Work Area, the commencement date shall be postponed until all requirements are fully satisfied.2.2. If required by the Lessee, the Lease Period will be deemed to be extended under the same terms and conditions of this Lease Agreement subject to the instruction issued in writing by the Lessee and agreed upon by both Parties.2.3. The work scope of the Lessor shall include but not be limited to the mobilization and demobilization of the Equipment to and from the Work Area. 3. Lease Rate3.1. The Lease Rate for the Equipment shall be HKD 205,000.00/ month (Two Hundred and Five Thousand per month), including one-day off-site per month in case of any necessary repairing and maintenance works. Any other absence due to whatever reason shall be deducted on a pro rata basis accordingly at HKD 6,833.33/ day or part thereof.3.2. The Lease Rate excludes the fuel which shall be supplied by the Lessee at its own cost.3.3. The Lease Rate is based on the service time of 24 hours/day, Monday to Sunday, excluding Labour Holidays. Working during the Labour Holidays shall be charged by HKD 8,199.99/ day.3.4. Two shifts of crew for the Equipment shall be arranged by the Lessor to maintain the proper function and operation of the Equipment during the working period as mentioned in item 3.3. The Lease Rate shall include all related costs for those crews including but not limited to MPF, salaries, taxes, levies and compensations. The Lessor shall properly arrange their changing time and breaking time to cooperate with the Lessee’s working schedule and to minimize any adverse effects on the Lessee’s construction works.3.5. The Lease Rate does not include the following:➢ HAMU➢ H&M Insurance (Hull and Machinery Insurance)3.6. The Lease Rate shall include but not limited to:➢ Safety devices (life buoy, life jacket, etc.) and suitable protective devices (tire)➢ AIS➢ Regular and routine boat maintenance and service➢ Other insurances required by project and statutory regulations (refer to item 6)➢ License renew, vessel survey and inspection➢ Any necessary and consumable materials during working➢ Repairing costs if damaged➢ Associated levies, taxes and duties may be incurred➢ Any other costs required to execute the Scope of Works.