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CONTRACT OF LEASE

KNOW ALL MEN BY THESE PRESENTS: This Contract of Lease, made and entered into by and between: LA CIMA REALTY DEVELOPMENT CORPORATION represented herein by JOSE EMMANUEL M. PACHECO, of legal age, Filipino, married, and a resident of Pacific Drive, Phase 3, Ecoland Subdivision, Matina, Davao City, Philippines, hereinafter referred to as the LESSOR; And __________________________. represented herein by _______________, of legal age, Filipino, _______and a resident of___________ Davao City, Philippines hereinafter referred to as the LESSEE: WITNESSETH WHEREAS, the LESSOR is the owner of a commercial building named La Cima Bldg. 1, located at McArthur Highway cor. Duhat & Camia Streets, Matina, Davao City; WHEREAS, the LESSOR is offering for lease several commercial spaces found within the said commercial building; WHEREAS, the LESSEE is interested in renting (1) one unit of the said commercial spaces; NOW THEREFORE, for and in consideration of the foregoing premises and of the terms and conditions hereinafter set forth, the LESSOR and the LESSEE hereby agree as follows; GENERAL PROVISIONS Article 1 LEASE TERM AND DELIVERY OF LEASED SPACE a) TERM OF LEASE This Contract of Lease shall be for a term as specified in the attached Annex A. Unless otherwise renewed under the conditions established hereunder, this Contract of Lease shall not be deemed extended, for any reason, beyond the termination date agreed upon by the parties and stated in the attached Annex A. There shall be no implicit renewal of this contract, notwithstanding the continued possession by the LESSEE of the leased premises for any length of time after the expiration of the term of this Contract of Lease. This Contract of Lease may be renewed for a period agreed upon by both parties, upon the written agreement of the LESSOR and the LESSEE and under such terms and conditions as may be acceptable to both parties, provided that the LESSEE shall have faithfully complied with all the terms of this Contract of Lease, and the LESSEE shall have notified the LESSOR in writing of its intent to renew the Contract of Lease at least ninety (90) days prior to the expiration of its term. In the event the LESSOR and the LESSEE are unable to agree on the terms and conditions under which this lease shall be renewed within the ninety-day period prior to the expiry of this Contract of Lease, this Contract of Lease shall be automatically terminated and the LESSOR shall be entitled to the rights granted under this contract by reason of such termination. 1

b) DELIVERY OF LEASED PREMISES The LESSOR shall deliver to the LESSEE the physical possession of the leased premises in an as is condition on or before the commencement of the term of this Contract of Lease as specified in Annex A. The term of this Contract of Lease shall commence on the date specified in Annex A notwithstanding the fact that any and/or all works necessary to be done on the Leased Premises to render it suitable for use in the business of the LESSEE has not yet begun or is not yet completed. If the LESSOR is unable to transfer physical possession of the Leased Premises to the LESSEE on or before the commencement of term of this Contract of Lease as specified in Annex A due to (i) refusal of a prior lessee to vacate the lease premises notwithstanding the termination of the lease term agreed upon between such prior lessee and LESSOR: or (ii) any other reason beyond the control of the LESSOR, the LESSOR shall not be subject to any liability for such failure. The LESSEE, however, shall have the option to terminate or cancel this Contract of Lease should it be unable to occupy the Leased Premises on the commencement of its term without fault on the part of the LESSEE. Article 2 SCOPE AND USE OF THE LEASED PREMISES a) SIZE AND FACILITIES OF THE LEASED PREMISES The Floor Area of the Leased Premises shall be that stated in Annex A hereof. The Leased Premises shall have an individual toilet, individual water and electrical meter, individual telephone line and individual outlet for signage. b) USE The Leased Premises shall be used by the LESSEE itself only for the uses specified in Annex A. The LESSEE shall not divert the Leased Premises to other uses, without the prior written consent of the LESSOR, it being expressly agreed that if, at any time during the term of this lease and without the prior written consent of the LESSOR, the said premises are used for purposes other than what has been agreed upon, the LESSOR shall have the option to (i) cancel this Contract of Lease and the LESSOR shall and thereupon become entitled to exercise all the rights provided in this Contract of Lease; (ii) increase the rental rate agreed upon in an amount deemed appropriate by the LESSOR; (iii) impose penalty charge; or (iv) compel the LESSEE to stop the unauthorized activities. c) COMMON USE The lease of the Leased Premises from the LESSOR shall include the use in common by the LESSEE and other lessees and lawful occupants of the common areas of the commercial building as necessary for the use and enjoyment of the Leased Premises and subject to the right of the LESSOR to restrict such use in anyway. Such common areas shall be designated by the LESSOR and may be changed by the LESSOR from time in any manner the LESSOR may deem fit. d) EXCLUSIVE RIGHTS OF THE LESSOR The grant of this lease shall not prejudice or adversely affect the following exclusive and absolute rights of the LESSOR to the extent specified below: 1) to provide passage of water, drainage, electricity, telecommunications or other utilities of service through the installation of conduits, pipes, wires, cables or ducts as are now or may be hereafter be installed in, on or under the Leased Premises, serving or capable of serving the commercial building or any adjoining property and to enter the Leased Premises to inspect, repair or maintain such conduits, pipes, wires, cables or ducts; 2) to erect, alter or consent to the erection or alteration of any building located or to be located on any adjoining or neighboring property, notwithstanding that such erection or alteration may diminish the access of light, view or air enjoyed within the Leased Premises, or to deal with such neighboring or adjoining property as the LESSOR shall see fit; 2

3) to enjoy subjacent and lateral support from the Leased Premises to keep the commercial building structurally sound and safe; 4) to name or rename the commercial building with any such style or name and from time to time, to change, alter, substitute or abandon any such name, without compensation to the LESSEE or the other tenants of the commercial building, provided that the LESSOR shall give the LESSEE not less than two (2) months prior written notice of the LESSORs intention to do so; 5) to conceptualize, design, improve, change, alter, extend, reduce, add or otherwise deal with arrangement, design or decoration of the common areas, provided that in exercising such right, the LESSOR will endeavor to cause as little inconvenience as practicable under the circumstances to the LESSEE; 6) to make, impose, adapt, supplement, abolish or amend such regulations as it may consider necessary for the management, operation or maintenance of the commercial building, or the operation and use of the common areas, common parking areas, private roads, sidewalks, driveways, entrances or exits in the commercial building; 7) to undertake the improvement of the commercial building or any development in adjoining lots, within the vicinity of the commercial building, in such a manner as to cause the least inconvenience to the LESSEE, its employees, guests, customers and clients. For this purpose, the LESSEE shall not hold the LESSOR liable for any resulting disturbance or discomfort arising out of such development work or improvement. Provided that if such construction or improvement would render it impossible for the LESSEE to conduct its business, the LESSEE will be allowed to deduct from its monthly rental the rent corresponding to the number of days it was impossible for the LESSEE to conduct its business owing to the improvement or construction being done by the LESSOR. e) EXTENT OF LEASED PREMISES This lease does not extend to the outside portions of the Leased Premises. The common areas within the commercial building are likewise not part of the leased premises, and no merchandise or other property of the LESSEE shall be place thereon. The LESSOR shall have the right to remove or cause the removal of such merchandise or other property belonging to the LESSEE and found on or within the common areas, and to charge the LESSEE the cost or removal, handling and storage, if any. f) NO GOODWILL The grant to the LESSEE of the physical possession, use and enjoyment of the Leased Premises confers no goodwill or patronage rights over the leased premises to the LESSEE, it being recognized that such rights exclusively belong to the LESSOR as owner of the Leased Premises. Neither shall the LESSEE have any right to sell or dispose of said goodwill or patronage rights to any person. g) ASSIGNMENT OR TRANSFER: The LESSEE shall not assign or transfer its rights under this Contract, nor sub-lease all or any part of the Leased Premises or enter into any arrangement whereby the use or possession of any part of the Leased Premises is transferred to any person, irrespective of whether rental or other consideration is given therefore. No right, title or interest to, in and under this contract or the Leased Premises shall be deemed conferred or vested in any person other than the LESSEE, to the extent specified herein, without the LESSORs prior written consent. h) MORTGAGE The LESSEE shall not mortgage, encumber or create any security interest in and to the leasehold rights granted hereunder to the LESSEE. ARTICLE 3 PRE-CONSTRUCTION/RENOVATION PERIOD A) SUBMISSION OF PLANS Within the time to be hereinafter provided for by the LESSOR, the LESSEE shall submit the construction plans of the proposed installation, improvements, lighting fixtures, floor covering and other installations on the Leased Premises required by the nature and purpose of its business. The LESSEE shall only commence the installation and/or improvements after receipt of the LESSORs prior written approval. Expenses for the installation and improvements shall be shouldered solely by the LESSEE. 3

Any subsequent additions, alterations or changes to the approved plans shall be made only upon prior written consent by the LESSOR. The LESSEE hereby warrants and guarantees that such installation, improvements, or alterations shall not alter or adversely affect the strength and general structure of the Leased Premises and of the commercial building. b) ADDITIONAL INSTALLATIONS- The installation of additional plumbing, electrical appliances, equipments, telephone and telecommunication device in the premises shall be for the sole account and expense of the LESSEE and may only be done after obtaining the prior written consent of the LESSOR. Such installation(s) should be done in such a way as not to cause damage to the premises. Provided, however, that in the installation of additional electrical appliance or equipment which will require additional electrical outlets, the LESSEE, in addition to obtaining the LESSORs prior written approval, shall likewise furnish the LESSOR with the electrical plans and lay-out for such additional outlets. c) GOVERNMENT PERMITS/LICENSES The LESSEE shall also be responsible for securing all the necessary government permits and licenses and for the payment of all taxes necessary for its operation. The LESSEE shall furnish the LESSOR copies of the said permits and licenses or any renewal thereof fifteen (15) days from the start of the LESSEEs business operation and every renewal date thereof as required by law. d) ELECTRICAL PLAN/SYSTEM The LESSEE must also make a declaration of his/its maximum electrical load and enumerate thereat, in the list provided to the LESSOR, the electrical fixtures, appliances, equipment, facilities, and other things or equipment which requires electrical current to function. e) ELECTRICAL CHECK-UP AND INSPECTION The LESSEE shall at all times, comply and cooperate with the LESSORs agent/representative in the LESSORs regular inspection of the LESSEEs electrical load. For this reason, the LESSEE shall only use a duly licensed electrician who must ensure that the additional load of current shall be within the capacity of the main switch of the panel corresponding to the Leased Premises. The LESSEE further binds himself to comply strictly with the requirements of the Fire Department and/or Government Electrician. Any violation of this provision shall make the LESSEE liable for damages directly or indirectly resulting from the violation of this provision. f) REQUIREMENTS AND APPROVAL BEFORE ALTERATIONS The LESSEE shall not make or cause to be made any alterations, additions or improvements or install or cause to be installed any trade fixture signs, floor coverings, and lighting and plumbing fixtures and the likes without a prior written consent and approval of the LESSOR. Any additional cost that may be incurred in effecting such installation, additions or improvements shall be for the account of the LESSEE. After written approval by the LESSOR, any alterations, additions or improvements shall be covered by appropriate constructions plans (showing the possible effect on the existing structure and electrical load of the building), which shall be approved by the LESSOR before any activity commences in the premises. The LESSOR reserves the right to refuse any alterations, additions or improvements requested by the LESSEE if in the LESSORs opinion, there is just cause to warrant such refusal. g) RELINQUISHMENT OF INSTALLATIONS MADE UPON THE SPACE It is further agreed that all such installations, improvements, except the movable furniture placed in at the expense of the LESSEE, shall remain upon, and be surrendered together with the Leased Premises as part thereof, at the termination or cancellation of this Contract of Lease, without compensation to the LESSEE, and without prejudice to the right of the LESSOR to require the LESSEE to restore the premises to its original condition. ARTICLE 4 RENT AND OTHER PAYMENTS

a) RENT and CUSA the commencement of the obligation of the LESSEE to pay rent and the determination of the amount of rent due from the LESSEE shall be governed by the provisions of Annex A. The LESSEE shall issue six (6) post-dated checks for its monthly rental on a semiannual basis. Every time a post dated check issued by the LESSEE iss withdrawn by the LESSOR as payment for the month it corresponds, the LESSEE shall again issue a post-dated check to replace the one already withdrawn. In all cases, the LESSOR shall always have in his possession six (6) postdated checks issued by the LESSEE. Payment of rentals shall be made net of the required withholding tax on rentals. The LESSEE shall remit the taxes withheld directly to the Bureau of Internal Revenue and shall indicate in the creditable withholding tax return to be filled with the latter that the taxes being withheld are to be credited to the LESSOR. Proof of such remittance shall be submitted to the LESSOR within three (3) business days from such remittance. It shall be understood, however, that the LESSOR shall have the right anytime during the lease term or renewal thereof to designate a different manner of payment of the rentals due hereunder, including designating another party to whom the payment of such withholding taxes shall be credited. In addition to the monthly rental fee, the LESSEE shall likewise pay the LESSOR monthly charges for the Cost of Utility, Services and Amenities (CUSA) provided by the LESSOR. The Utilities, Services and Amenities provided by the LESSOR are hereby itemized in the Essential Provisions attached as Annex A hereof. It is hereby understood and agreed upon that the monthly charge of the CUSA to be paid by the LESSEE to the LESSOR is equivalent to ten percent (10%) of the monthly rental fee and shall be paid in the same manner and time that the monthly rental fee is paid and shall likewise be subject to the same penalty and surcharges in case of late payments. In the payment of the monthly charges for the CUSA, the LESSEE shall also issue additional six (6) post dated checks. Every time a post-dated check issued by the LESSEE is withdrawn by the LESSOR as payment for the month it corresponds, the LESSEE shall again issue a post-dated check to replace the one already withdrawn. In all cases, the LESSOR shall always have in his possession six (6) postdated checks issued by the LESSEE as payment for the monthly charges for CUSA. b) TAXES- In the event that at any time during the term or renewal of this lease, the real property tax on the commercial building or the land on which is stands is increased, or there is levied any new or additional assessment or charge on the commercial building or the land on which it stands, then the Regular Fixed Rent in force on the date the real property tax, assessment or charge is increased or imposed, shall likewise be increased in direct proportion to the increase in or additional real property taxes, assessment or charge. Other than the LESSORs income taxes or taxes required to be withheld from the rental due to the LESSOR which shall be credited against its income taxes, all taxes due by reason of the receipt of rental and all other amounts which the LESSEE is required to pay the LESSOR as provided hereunder, as well as the documentary stamp taxes or other taxes accruing by reason of the execution of this Contract, shall be for the account of the LESSEE. c) SECURITY BOND The Security Bond shall consist of three (3) months Deposit of the monthly rental to be paid in cash or in check. The Security Bond shall be settled before any construction or renovation is made in the Leased Premises. Payment of the Security Bond in check shall only be considered as settled once the same is encashed by the LESSOR. The Security Bond shall stand as security for the proper and due performance of all the LESSEEs obligations under this Contract. The existence of such security, however, does not and should not excuse the LESSEEs non-payment of rent on a regular monthly basis, or any other sum required to be paid hereunder on the due date specified therefore. The LESSOR shall not be required to keep the Security Bond separate from the general funds. The Security Bond shall be returned to the LESSEE, without interest, only after the expiration of the term of the cancellation of this Contract of Lease and only after the LESSEE shall have completely and satisfactorily vacated and delivered the Leased Premises to the LESSOR, less 5

whatever amounts the LESSEE may owe the LESSOR or which the LESSOR may apply against the security as provided in this Contract of Lease. It shall be understood, however, that the application of the security bond against any unpaid obligations of the LESSEE shall be effected only at the termination or cancellation of the lease agreement. The LESSOR shall, notwithstanding the delivery of the Leased Premises by the LESSEE have the right to withhold any portion of the Security Bond until the LESSEE shall have received statements of accounts and fully settled the amount therein. Likewise, should the LESSEE have any other obligation which remains due and unpaid under any other contract with the LESSOR the LESSOR shall have the right to apply the amount of these unpaid obligations against the security bond in settlement thereto upon the termination or cancellation of this Contract of Lease. The security bond shall be forfeited in favor of the LESSOR upon the occurrence of the following events: (i) the LESSEE fails to occupy the Leased Premises for the full term of the lease, or (ii) this Contract is terminated by the LESSEE for whatever reason prior to expiry date of this term; or (iii) in case of cancellation or termination of this Contract due to default or breach of its terms. Upon the occurrence of any of these events, the security deposit (or the balance thereof which should otherwise have been returned to the LESSEE had such termination or cancellation not have occurred) shall be forfeited in favor of the LESSOR, in addition, to whatever damages due to the LESSOR arising from the foregoing events. In the event however, that this lease is terminated at the instance of the LESSOR without any fault or negligence of the LESSEE but with its conformity, the security deposit shall be returned to the LESSEE, net of the amounts which may be deducted therefrom. d) EXTRA ORDINARY INFLATION In case extraordinary inflation of the Philippines Peso should supervene during the term of this lease or its extensions or renewal, the value of the currency at the time of the establishment of the obligation shall be the basis of payment as provided for in Article 1250 of the Civil Code of the Philippines. In case of such eventuality, the LESSOR shall have the option to adjust the minimum monthly rent and the monthly CUSA charges accordingly. The term extraordinary inflation shall be conclusively presumed to have supervened if the exchange rate of the Philippine Peso to the US Dollar which is fixed at Php 43.00 to the US 1.00 at the time of execution of this contract should increase by more than 25% of exchange rate of the Philippine Peso to the US dollar as determined by the Banko Sentral ng Pilipinas, which reference exchange rate shall be conclusive upon the parties. The LESSOR shall exercise this option by giving written notice to the LESSEE of the occurrence of the extraordinary inflation coupled with the demand to pay the adjusted rent on the month/s already affected by the extraordinary inflation and on the succeeding months still to be affected by the extraordinary inflation. e) PENALTY/SURCHARGE Without prejudice to the exercise of LESSOR of its rights under the provisions herein, the LESSEE shall pay to the LESSOR penalty on any amount herein provided to be paid by the LESSEE that is not paid or tendered on time at the rate of FIVE PERCENT (5%) PER MONTH, to be computed from the date of delinquency until paid in full. f) CANCELLATION OR TERMINATION DUE TO DEFAULT OR BREACH OF CONTRACT In case of cancellation or termination of this Contract due to default or breach of terms by the LESSEE, the LESSEE shall pay the LESSOR all unpaid rents, fees, charges or unsettled assessments, in addition to claim for damages the LESSOR may avail of under this Contract of Lease or under existing laws, rules and regulations. g) LIEN In the event the LESSEEs unpaid rents and charges remains unpaid for a period of at least one (1) year, the LESSOR shall have a preferred lien on all personal properties of the LESSEE found and located in the Leased Premises in accordance with Articles 2241 and 2243 of the Civil Code of the Philippines. For this purpose, the LESSOR is hereby authorized to prevent the removal of the said properties from the Leased Premises or demand their return from any possessor thereof. It shall be understood that the LESSEE, its agents or assigns shall not hold the

LESSOR, its agents, or assigns liable for any actions of the LESSOR, its agents or assigns done or caused to be done in pursuance of all the provisions of this Contract. h) APPLICATION OF PAYMENTS Any payment received by the LESSOR shall be applied against the statement of account or billing with the earliest date. In the event that the amount paid is more than the amount indicated in the statement of account/billing with the earliest date, the remaining amount shall then be applied against the statement of account/billing with the next earlier date and so forth and so on. Should the payment received be insufficient to completely settle any outstanding obligation, whether or not covered in one statement of account or billing, the application of payment against the statement of account or billing shall be done under the following order of priority: (i) first, against other charges or interest and penalty and (ii) secondly, against unpaid rent. i) NON-SUFFICIENCY OF FUNDS The fist case of non-sufficiency of funds (NSF) for a months rental will be a ground for the termination of this contract of lease if not settled after fifteen (15) calendar days from its due date, without prejudice to all other remedies the LESSOR has under this agreements and under existing and applicable laws. Failure to do so after the given period will authorize the LESSOR to padlock the LESSEEs leased premises upon prior notice. In such case, the LESSEE will not be allowed to remove any merchandise or fixtures from the Leased Premises. j) PAYMENT OF DUES, CHARGES AND FEES In the fulfillment of all obligations where the payment of dues other than rental fee and monthly CUSA charges are involved, including but not limited to taxes, assessments, insurance, premiums, reimbursements, fees, cost and other charges, the LESSEE is given a period of fifteen (15) calendar days from the date of default within which to make the necessary payment otherwise the LESSOR shall have the right to recover against the LESSEE such unpaid dues, charges and fees plus damages and to rescind this Contract of Lease. ARTILCE 5 COMMON AREAS AND PARKING a) USE OF COMMON AREAS During the term of this lease, the LESSEE and its respective employees, agents, customers and guest shall have the NON-EXCLUSIVE right to use the Common Areas in the commercial building in common with all the other lessees and lawful occupants/tenants of the commercial building, subject to any rights, powers and privileges reserved by the LESSOR in its favor or in favor of another as provided hereunder. b) NO OBSTRUCTION OF COMMON AREAS The sidewalks, entries, passages, corridors and other common areas of the commercial building shall not be obstructed or used by the LESSEE for any purpose other than for ingress to or egress from the commercial building. No disturbing, noisy or improper activities shall be allowed to be carried therein or thereon such as but not limited to, the use of loud speakers, television, phonographs, radios or other devices. Such disturbing, noisy or improper activities shall likewise not be carried on within or inside the Leased Premises if the same is, in any manner, audible or visible outside the Leased Premises without the prior written approval of the LESSOR. In no instance shall the LESSEE place boxes, cartons, packages, refuse, dustbins, garbage cans, furniture or chattels in the common areas. The common areas should, at all times, be kept free and clear of all obstructions. For purposes hereof, the LESSOR shall, in addition to its other remedies as provided hereunder or in law, be entitled without notice and at the LESSEEs expense, to remove, store or dispose of any such obstruction as the LESSOR shall see fit without incurring any liability to the LESSEE. The LESSEE shall, on demand, pay or reimburse the LESSOR for all the expense incurred in such removal or storage. C) PARKING The LESSEE shall have the NON-EXCLUSIVE right to use, jointly with other LESSEEs in the commercial building, the designated common parking areas within the vicinity

of the Leased Premises. Such use shall be subjected to the following restrictions and regulations and to such other restrictions as maybe promulgated from time to time by the LESSOR: (1) Vehicles owned or used by the LESSEE, its employees, guests, customers or clients may be parked in any of the designated common parking areas within the commercial building. At no time shall the LESSEE allow its business operations or activities to obstruct free ingress or egress to and from the common areas or obstruct any road in the commercial building. (2) The LESSEE recognizes the right of the LESSOR at any time to (i) re-locate the driveways, entrances and exits leading to or from the common areas: (ii) increase or decrease their area; (iii) close existing common areas designated for parking to establish new areas for parking in different location/s: (iv) increase, decrease, rearrange or otherwise change the parking slots or parking patterns found therein; (v) provide additional parking spaces; (vi) construct, install or make such improvements as it shall deem fit in common areas or effect alterations of existing improvements; or (vii) limit the use of certain portions of the common areas by employees, guests, customers or clients or certain lessees of the commercial building as the LESSOR shall determine the use of such areas for parking. ARTICLE 6 PUBLIC UTILITIES AND SERVICES a) INSTALLATIONS In case the LESSEE desires to install additional public utilities or public service facilities, the LESSEE shall first obtain the prior written approval of the LESSOR and the LESSEE shall likewise shoulder all the expenses and charges necessary for the installation, operation, repair and maintenance of such additional utilities and facilities. The LESSEE shall comply with all the rules, regulations and requirements imposed by the appropriate government agencies or public utility companies in connection therewith. For the purpose of obtaining the prior written approval of the LESSOR for the installation of additional public utilities or service facilities in the Leased Premises, the LESSEE shall submit to the LESSOR the necessary plans and specifications for the installation of the said utilities or facilities. Such installations should be made by a licensed electrician or technician approved or employed by the LESSOR in such a way as to cause no injury to the Leased Premises of the commercial building. The LESSOR and any duly authorized public utility or service entity shall be allowed free access to and entry into the Leased Premises for the purpose of installing, inspecting or requiring generators, electrical apparatus, communication facilities, electric poles, metal alley arms and all accessories and appurtenances connected therewith, or performing all other acts necessary to ensure public safety and the preservation of the utility lines and facilities. ARTICLE 7 LESSEEs ADDITIONAL COVENANTS The LESSEE agrees that in addition to its other undertakings under this Contract, it shall strictly abide by the following covenants, unless it has obtained the prior written consent of the LESSOR for the performance of an act or deed which is otherwise prohibited under this contract: a) NOTICES, SIGNS AND ADVERTISEMENTS. The LESSEE shall not affix, inscribe or paint, or cause the affixing, inscribing or painting of any notice, sign or other advertising media on any part of the Leased Premises or commercial building, including any sign or media which when illuminated shall be visible outside the Leased Premises without the prior written consent of the LESSOR. The LESSOR shall have the right to require the LESSEE to remove any sign which the LESSOR may consider to be inappropriate. Upon failure of the LESSEE to do so, the LESSOR or its representatives or agents shall have the authority, without incurring any liability, criminal, civil or otherwise, to enter the Leased Premises, remove any sign/s it may consider inappropriate, and charge costs thereof to the LESSEE.

The LESSEE shall likewise not affix, hang, inscribe or paint any notice, sign streamer or any other advertising medium outside the Leased Premises without the prior written approval and consent by the LESSOR. The LESSOR, its representatives or agents, is hereby authorized to remove and/or destroy summarily any such unauthorized sign or materials which maybe within or outside the Leased Premises in violation of this provision, without incurring any liability whatsoever. The LESSEEs trade name set out in the Contract shall not be changed without the LESSORs prior written approval. The LESSEE is allowed to put up a signage of its trade name, however, its size, position and nature shall be in accordance with the restrictions provided in Annex A hereof. b) NAME OF THE COMMERCIAL BUILDING The LESSEE shall use as its advertised business address the name of the commercial building. The LESSEE agrees that the LESSORs name or of the commercial building shall not be used in any confusing, detrimental or misleading manner whether or not in connection with the LESSEEs own business or trade name. Upon termination or cancellation of this Contract of Lease, the LESSEE shall cease to use the name of the commercial building or any part thereof in any manner, whether or not in connection with the LESSEEs own business or trade name. c) ALTERATIONS, ADDITIONS OR IMPROVEMENTS The LESSEE shall not make any alteration, addition, installation or improvement within the Leased Premises or in any of the designated common areas without the prior written consent of the LESSOR and then subject to such terms and conditions as may be imposed by the LESSOR as it deems fit. All alterations, installations, additions or improvements made by the LESSEE in or on the Leased Premises shall be done in good workmanlike fashion and at the LESSEEs cost. All building, architectural, engineering and conceptual plans and specification for any alteration, addition or improvement shall be submitted to the LESSOR for its approval at least thirty (30) days prior to the commencement of work to be done. The approval by the LESSOR of such alterations, addition or improvement shall in no event relieve the LESSEE from any responsibility of obtaining all the necessary permits and licenses pertaining to such alteration, additions, improvements, or installations nor from paying the necessary taxes, insurance premium, bonds, or fees as shall be necessary or appropriate in connection therewith. The LESSEE shall give all the notices required and shall comply with all ordinances, rules and regulations issued by governmental agencies and public utility companies having jurisdiction over the same. All such alteration, additions or improvements made by the LESSEE, as well as any alterations, improvements or installation placed in the Leased Premises by the LESSOR, except movable furniture and fixtures placed in the Leased Premises at the expense of the LESSEE and removable without defacing or injuring any ceiling, floor, wall or any portion of the building of the Leased Premises, shall become the property of the LESSOR at the expiry, cancellation or termination of this Contract of Lease, and shall remain upon and be surrendered with the Leased Premises as part thereof without compensation for their value to the LESSEE without prejudice to the right of the LESSOR to compel the LESSEE to restore the Leased Premises to its original state or condition. d) MAINTENANCE OF LEASED PREMISES - The LESSEE shall well and sufficiently preserve, repair and maintain in good, clean and tenantable condition, reasonable wear and tear excepted, at its own cost, the interiors of the Leased Premises, including but not limited to the flooring, interior plaster or other finishes, doors, windows, cables, conduits, wirings, sockets, electrical installations and plumbing fixtures found in or about the Leased Premises. Any and all kind of damage done to the Leased Premises by the LESSEE shall be repaired and restored, as far as practicable, to its original condition by the LESSEE at its own expense. All windows, glass or plate glass in the Leased Premises broken or damaged by the LESSEE due to the fault or negligence of the LESSEE, its guests, employees, or agents, shall be replaced at the cost of the LESSEE. The Leased Premises and all additions supplied by the LESSOR shall be kept in good, clean, and working condition and repair (reasonable wear and tear excepted). The LESSEE shall provide itself, at its cost and expense, with receptacle to hold and contain waste matter, garbage and refuse, shall keep the same in securely sealed containers, shall properly segregate its garbage 9

and waste and provide properly segregated garbage containers, and shall dispose the same in accordance with existing laws and ordinances. The LESSEE shall likewise maintain the pipes and other plumbing apparatus, used exclusively by the LESSEE, its employees, guests, clients or customers in good, clean and tenantable condition (reasonable wear and tear excepted) and in accordance with the requirements imposed by regulations of governmental authorities or of the LESSOR. The LESSEE shall pay the LESSOR for all costs in cleaning, repairing or replacing any of the same when found to be blocked or stopped owing to the careless and improper use or neglect thereof by the LESSEE, its agents, employees, clients, customer or guest. The LESSEE must notify the LESSOR immediately of any damages to the Leased Premises, their appurtenances as well as any occupation, usurpation or untoward act being committed or threatened to be committed with the Leased Premises. e) BRINGING IN AND OUT OF MACHINERIES AND OTHER HEAVY EQUIPMENTS No machineries or heavy equipments may be brought into the commercial building or in the Leased Premises without the prior written approval of the LESSOR. f) STORING OF FLAMMABLE OR EXPLOSIVE MATERIALS The LESSEE shall not bring into or store in the Leased Premises anything highly flammable in nature, explosive materials, or install therein any apparatus, machinery or equipment, which may cause obnoxious tremors or noise or expose the Leased Premises to fire or increase the fire hazard of the Leased Premises or of the commercial building, or any other article which the LESSOR may reasonably prohibit, unless with prior written approval by the LESSOR. It is understood that notwithstanding such prior written approval by the LESSOR, should the LESSEE do so, not only shall the LESSEE be responsible for all the damages which it may cause to the LESSOR and/or its other lessees/tenants. If the same is done without the prior written approval of the LESSOR, the LESSOR shall, in addition thereto, have the right to cancel this Contract of Lease. g) WHEN NATURE OF BUSINESS REQUIRES THE CONSTANT USAGE AND/OR DISPOSAL OF OILS- If the nature of business of the LESSEE requires constant usage and/or disposal of oils of any kind, the LESSEE is required to install grease traps and other necessary devices to prevent the clogging of pipes and drains. The failure of the LESSEE to observe this provision shall make it liable for any direct or indirect damages such non-observance shall cause the LESSOR or other lessees or tenants of the commercial building and may be a ground for the LESSOR to cancel or terminate this Lease Contract. h) NUISANCES The LESSEE shall not permit or suffer to be permitted any music or noise to emanate from the Leased Premises which, in the reasonable opinion of the LESSOR, may constitute a nuisance or annoyance or give cause for reasonable complaint from the LESSOR or other lessees or lawful occupants/tenants of the commercial building. Neither shall it permit any odor or noxious smell which in the sole opinion of the LESSOR, is offensive or unusual, to emanate from the Leased Premises, nor keep or suffer to be kept any animals or pets inside the Leased Premises or within the commercial building. i) PROTECTION AGAINST PESTS The LESSEE shall take all such steps and precautions at its own cost to prevent the Leased Premises from becoming infested with termites, rats, mice, cockroaches or other pests or vermin. j) COMPLIANCE WITH RULES The LESSE or its authorized agents shall obey and comply with the Construction Guidelines and House Rules, and with such rules and regulations as may from time to time be imposed, adopted, introduced or amended by the LESSOR or any appropriate government agencies or public utilities. k) PERMIT TO ENTER The LESSEE shall permit the LESSOR or its authorized representative, the public utility companies and their authorized representatives, at reasonable times to enter the Leased Premises for the purpose of undertaking the repair and maintenance of utilities, facilities and other structural elements used by the LESSEE or shared in common with 10

other lessees or lawful occupants/tenants of the commercial building, inspecting the condition of the Leased Premises or for determining compliance by the LESSEE with the provisions of this Contract. The LESSOR shall be entitled, without incurring any liability whatsoever, in the event of an emergency, to enter the Leased Premises as the LESSEEs attorney-in-fact, to undertake the necessary repairs or conduct an inspection for the protection of the Leased Premises or of the commercial building. l) INSPECTION PRIOR TO EXPIRY OF LEASE During the last three (3) calendar months immediately preceding the expiration of the term of this Lease Contract, the LESSEE shall allow, during business hours and upon prior written notice, the LESSOR, or its authorized representatives or agents, or its prospective tenants, to inspect the Leased Premises. During such period, the LESSOR may exhibit, where it shall think fit, a notice offering the Leased Premises for lease, which notice shall not be concealed or its view obstructed by the LESSEE in any manner. m) CONDITION OF LEASED PREMISES The LESSEE agrees to return and surrender the Leased Premises at the expiration or cancellation of this Contract of Lease in the same condition as it was at the commencement of the term of this lease (reasonable wear and tear excepted), without any delay, devoid of all occupants, furniture, articles and effects of any kind, other than the alterations, installations, additions or improvements which pertain to the LESSOR in accordance with the provisions of this Contract of Leased. The LESSEE shall repair any damage caused to the Leased Premises which cannot be accounted for by reasonable wear and tear and restore the Leased Premises to the condition it was found at the commencement of this lease to the satisfaction of the LESSOR. All keys giving access to the Leased Premises and/or the common areas, as may be applicable, shall be returned to the LESSOR, and all expenses incurred in removing from the Leased Premises or the commercial building, the names, posters, signboards, decoration or advertising matters relating to the LESSEE, including any damages caused by such removal, shall be for the account of the LESSEE. n) HOLD-OVER If the LESSEE fails to return the Leased Premises to the LESSOR at the end of the term of this lease, the LESSEE shall pay the LESSOR, as damages, a sum equal to twice the rental to be paid by the LESSEE to the LESSOR for the period during which the LESSEE retains possession of the Leased Premises. The exercise by the LESSOR of its rights under this Provision shall not be interrupted as a grant of permission to the LESSEE to continue in possession of the Leased Premises beyond the term of this lease, and the damages due to the LESSOR hereunder shall be in addition to the damages which may become due to the LESSOR under this Contract of Lease and other existing laws and applicable laws and regulations. If the Leased Premises is not surrendered at the expiration of the term of this lease, the LESSEE shall be responsible to the LESSOR for all the damages which the latter may suffer by reason thereof and will indemnify the LESSOR against any and all claims made by the succeeding lessee, resulting from the delay in the delivery and possession of the Leased Premises to such succeeding lessee, to the extent that such delay is occasioned by the failure of the LESSEE to surrender the premises on time. The LESSOR shall be entitled to exercise the remedies specified in Consequences of Default Provision hereof. o) GUARANTY The LESSEE, if it is a corporation, hereby undertakes that the performance of all obligations under this Contract or any amendment, extension or renewal thereof shall be jointly and solidarily guaranteed by the directors, officers and principal stockholder of the LESSEE. For this purpose, the LESSEE shall submit to the LESSOR upon the execution of this Contract the names of the LESSEEs directors, officers and stockholders and a joint and solidary guarantee by them under this Provision. In the event of any change in the directors and stockholders of the LESSEE, then the LESSEE shall submit to the LESSOR the names of the new directors and stockholders and their respective joint and solidary guaranty in favor of the LESSOR, without prejudice to the right of the LESSOR to terminate or cancel this Contract of Lease by reason of the change in directors, officers or stockholders within thirty (30) days of such change. 11

p) STRIKES AND LOCK-OUTS In the event that the LESSOR or any of the lessees in the commercial building is prevented from conducting business due to strike, lockout, labor dispute or any other analogous activity involving the LESSEE, the LESSOR shall have the option to terminate this Contract of Lease to protect the business of the other lessees or tenants in the premises. In the event that any mass action such as pickets and rallies are established in the Leased Premises or in the vicinity thereof or even outside of the Leased Premises if so situated as to cause disturbance or disruption to the business of the LESSOR and/or any of the other lessees or tenants or obstructs the passage to and from the commercial building, due to a labor dispute involving the LESSEE or arising in any way from the conduct of the LESSEEs business, the LESSOR, in its sole discretion and by written notice, may require the LESSEE to pay for any additional cost the LESSOR may incur in hiring additional security guards, maintaining the cleanliness of the Leased Premises and the commercial building or in contracting for such services as may be required for the well-being, security and welfare of the other lessees, its agents, employees and clients, in the commercial building. q) INJURY, LOSS OR DAMAGE The LESSEE shall assume full responsibility for any damage which may be caused to the person or property of third person/s while remaining either casually or on business in any part of the Leased Premises and further binds himself to hold the LESSOR free and harmless from any such injury, loss or damage unless such is due to the fault of the LESSOR. The LESSOR shall not be liable or responsible also for events such as interruption or failure of water and/or electrical supply; for any article delivered to or left with any of its employees; or for any loss/es that maybe suffered by the LESSEE, its agents or customers in the Leased Premises occasioned by theft, robbery or other crimes. ARTICLE 8 REPRESENTATION AND WARRANTIES a) LESSORS WARRANTIES The LESSOR represents, warrants and covenants in favor of the LESSEE that: (1) It is the absolute and legal owner of the commercial building and the Leased Premises, and has full right, title and interest to grant the lease of the Leased Premises to the LESSEE; and (2) Unless otherwise prevented by force majeure, it shall maintain the LESSEE in peaceful possession of the Leased Premises for the entire term of this Contract unless sooner cancelled under the provisions of this Contract. b) MUTUAL WARRANTIES The LESSOR and the LESSEE represent and warrant in favor of each other that: (1) Each has full power, authority and legal right to execute, deliver and perform this Contract and has taken all the necessary corporate action to authorize the foregoing: (2) That in any case of abandonment or illegal detainer on the part of the LESSEE, without prejudice to the payment of penalty for such illegal detainer, the LESSEE hereby expressly authorizes the LESSOR as his duly authorized attorney-in-fact with full power and authority to padlock, break open if necessary and enter into and take possession of the Leased Premises for the protection of its interest therein and any action taken or done therein by the LESSOR, its representatives and agents, shall not be a cause for any legal action be it civil or criminal by the LESSEE. Delay in recovery of possession shall not be deemed as a waiver of the right to the LESSOR to recover possession of the Leased Premises;

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(3) This contract constitutes the legal, valid and binding obligation of the LESSOR and the LESSEE, enforceable in accordance with its terms; and (4) The execution, delivery and performance of this Contract do not and will not violate any provision of, or result in a breach of or constitute a default under any law, regulation or judgment, or violate any agreement binding upon either of them or any of their property. ARTICLE 9 INDEMNITIES a) LIMITATIONS ON LIABILITY OF LESSOR Save by its gross negligence or willful misconduct, the LESSOR shall not be liable or responsible in any circumstance, whether tortuous or otherwise, for any damage or disturbance suffered (whether directly or indirectly) by the LESSEE (whether personally or in respect of the Leased Premises or any contents therein) or by any of its employees, clients, customer or any other persons whosoever. Without limiting the generality of the foregoing, the LESSOR will not be liable: (1) In respect of any loss, damages or injury sustained by the LESSEE or any such other person or any of their properties, caused by/or through any accident, event or in any way owing to; (i) the failure, quality, inadequacy, fluctuation, interruption, malfunction, explosion or suspension of electricity, water, telephone, telex, facsimile, emergency power or other public utility services supplied or intended for the Leased Premises of the commercial building; (ii) any seepage, overflow or leakage of water from any pipe, drain or automatic sprinkler system or any part within the Commercial Center or the influx of rain water into the Leased Premises or the commercial building; (iii) any activity of rats or other pests or vermin in the commercial building; (iv) any failure or breakage of glass of in the Leased Premises or the commercial building; (v) any defect, mechanical breakdown, failure or need for repair, overhaul, or any negligent or improper working or operation by any person whomsoever, of the facilities provided for the common use of the lessees of the commercial building or for the LESSEE in respect of the Leased Premises; (vi) Force Majeure; (vii) any escape of fumes, smoke, fire or other substances from anywhere within the commercial building; (viii) any escape of electric current from electric wiring or cable situated upon or in any way connected with the commercial building or any part thereof, or any vibration from or of any part of the commercial building or adjoining or neighboring premises; (ix) any act, neglect or default of the LESSEE or other lessees of the commercial building or of adjoining or neighboring premises, or any of their respective employees, clients, guests or customers; (x) any defective or damaged condition of the Leased Premises or commercial building; or (xi) any violation by the LESSEE or by any of the lessees in the commercial building of the provisions hereof or the rules and regulations adopted by the LESSOR or by any appropriate government agency in connection with the possession, maintenance and conduct of business operations within the Leased Premises; (2) For the security and safekeeping of the Leased Premises or any person or property found therein including without limitation all furniture, fixtures, fittings, goods, chattels, samples, personal effects, contents or articles delivered to or left in the Leased Premises; b) INDEMNIFICATIONS The LESSEE shall indemnify and keep the LESSOR fully indemnified against all claims, actions, demands and proceedings whatsoever made against the LESSOR by any person whomsoever arising as result of or in connection with any loss, damage or injury which the LESSOR shall not be responsible for under Limitation On Liability of Lessor Provision and against all cost and expenses incurred by the LESSOR in respect of such claims, actions or demands. The LESSEE shall also be responsible for any loss or damage which may be done to the Leased Premises or any part therein or to common areas or to any part of the commercial building, due to the fault or negligence of the LESSEE, its employees, customers or guests.

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c) NON-ABATEMENT OF OBLIGATIONS In no event shall the payment of any amount due hereunder whether as rent, common area charges or utility charges abate or cease to be payable on account of the occurrence of any of the causes specified above, except to the extent permitted in the Force Majeure Provision. ARTICLE 10 FORCE MAJEURE a) OCCURRENCE OF FORCE MAJEURE - The LESSEE shall give the LESSOR written notice of any damage caused to the Leased Premises by reason of Force Majeure. If the Leased Premises is rendered inaccessible or destroyed or so damaged by Force Majeure, without any fault or omission of the LESSEE, its employees, customers or clients, the damage shall be repaired at the expense of the LESSOR, and the disturbance or discontinuance in the possession of the Leased Premises by reason of or occasioned during such repair shall confer no right of any kind to the LESSEE against the LESSOR, except to the extent recognized under Option To Rescind Provision. In the event that (i) the damage resulting from the Force Majeure renders the Leased Premises totally unfit for use or occupation for more than sixty (60) days, or (ii) Force Majeure prevents any party from conducting its business or interferes with the operations of the commercial building for a period of more that sixty (60) days, then either party shall have the right to rescind this Contract by a written notice sent to the other party without need of any judicial action, within five (5) business days after the lapse of the applicable period. The rescission of this Contract shall be without prejudice to the rights and remedies of either party against the other in respect of any claim or liability antecedent to such rescission. The obligation to pay rent and other charges or amounts due hereunder shall continue to be in full force until the date such rescission is effected. In the event, however, that (i) the damages resulting from the Force Majeure renders the Leased Premises unfit for use or occupation for Sixty (60) days or less, or (ii) the repairs required to render the Leased Premises fit for use or occupation are expected to last for ninety (90) days, or less, or (iii) either party fails to exercise the option to rescind this Contract with the 5-day period specified therefore; or (iv) Force Majeure prevents any party from conducting business or interferes with the operations of the commercial building for a period of sixty (60 days or less, then the rent due to the LESSOR (which shall be computed in accordance with Rent and Other Payments Provisions) shall be reduced in proportion to the period the LESSEE has not been able to use the Leased Premises. Notwithstanding such proportionate reduction, all the other obligations of the LESSEE as provided hereunder shall remain in full force and effect. In no case shall any compensation or claim be allowed against the LESSOR by reason of the interruption, annoyance or injury caused to the LESSEE or its property arising from the rescission of this Contract or any interruption in the use or possession of the Leased Premises, or the repair of any portion of the commercial building or the Leased Premises; b) STRIKES AND LOCK-OUTS In the event that the LESSEE is prevented from conducting business in the Leased Premises due to strike, lockout, labor dispute or any other analogous activity involving the LESSOR or other lessees, or due to accident or cause beyond the control of the LESSOR, the LESSEE hereby unconditionally relieves and releases the LESSOR from any and all liabilities in connection with or arising out of such occurrence(s). ARTICLE 11 TERMINATION AND CONSEQUENCES a) EVENTS GIVING RISE TO DEFAULT AND TERMINATION The Lessor shall have the right to cancel or terminate this Contract upon the occurrence of any of the following events: (1) The term of this lease shall have expired pursuant to Lease Term Provision, or the LESSEE shall have failed to return and surrender the Leased Premises in accordance with Condition of the Leased Premises Provision; 14

(2) The Leased Premises shall be closed, deserted or unoccupied for a continuous period of fifteen (15) calendar days; (3) Any of the LESSEEs representations and warranties stated in this Contract of Lease or done verbally by the LESSEE shall prove to be false in any material aspect when made, or the LESSEE fails to observe or perform any of the covenants provided hereunder; (4) Upon the failure of the LESSEE to pay or perform any of its obligations during the time fixed herein for the payment or performance of such obligation without necessity of demand or if no time is fixed, after seven (7) days from receipt of notice of demand from the LESSOR; (5) The LESSEE shall become insolvent or be unable to pay its debts when due or shall commit or permit any act of bankruptcy under the applicable law; (6) The occurrence of any other event which entitles the LESSOR to exercise its right to cancel or terminate this lease pursuant to other provisions in this Contract and Annex A b) CONSEQUENCES OF DEFAULT Upon the occurrence of any of the foregoing events, the LESSOR shall be entitled to exercise any of the following remedies, alternatively or cumulatively in conjunction with or separately, at its discretion, from any other right or remedy granted hereunder or under the law: (1) The LESSEE hereby appoints the LESSOR as its attorney-in-fact with the following powers and functions, exercisable upon the occurrence of the events specified in Events Giving Rise to Default and Termination Provisions shall have the right to (i) open, enter, padlock, secure, enclose or fence in the Leased Premises, and/or discontinue the supply of public utilities and services to the Leased Premises, or otherwise take full and complete physical possession and control of the Leased Premises; (ii) assume ownership and take full control and possession of all alterations, additions, improvements or installations placed in or on the Leased Premises which cannot be removed without defacing or injuring any ceiling, floor, wall or any portion of the commercial building or Leased Premises (iii) take an inventory of the equipment, furniture, articles or merchandise found or located in the Leased Premises which may be removed therefrom without defacing or injuring any ceiling, floor, wall or any portion of the commercial building or the Leased Premises, place any of the same in storage and charge the LESSEE the corresponding hauling and storage fees; (iv) in case the LESSEE fails to claim said equipment, furniture, articles or merchandise from storage and liquidate any liability to the LESSOR within thirty (30) days from the date of the LESSORs possession of the Leased Premises or of the LESSEEs personal properties, to dispose said properties in a public sale and to apply the proceeds thereof to the payment of any liability and/or indebtedness due to the LESSOR from the LESSEE, including reasonable expenses incurred by the LESSOR in connection with such sale, without prejudice to the right of the LESSOR to collect the deficiency, if any. The appointment of the LESSOR as attorney-in-fact is considered coupled with interest and hence, IRREVOCABLE. (2) Should the LESSOR be compelled to seek judicial relief against the LESSEE, the latter shall, in addition to the damages mentioned above, pay an amount equivalent to twenty percent (20%) of the amount claimed in the Complaint, as attorneys fees, which in no case shall be less than Thirty Thousand Pesos (Php 30,000.00), and the cost of litigation and other expenses which the law may entitle the LESSOR to recover from the LESSEE. ARTICLE 12 GENERAL PROVISIONS a) EXPROPRIATION In the event that the Leased Premises or any part of the commercial building is expropriated during the period of this lease by any instrument of the Government or by any other entity with authority to exercise such power, either party may rescind this Contract upon giving the other party thirty (30) days prior written notice, without incurring any liability or 15

providing the other party with any basis from an action for damages. In case of such expropriation, the LESSEE hereby unconditionally relieves and releases the LESSOR from any and all liability under this Contact in connection with or arising out of such expropriation proceedings and aggress that the compensation to be received by the LESSOR shall belong to it wholly as owner of the Leased Premises, without prejudice to whatever recourse the LESSEE may have against the expropriating entity on account of damages done or caused to it or its property by reason of such expropriation. b) NON-WAIVER The failure of any party to insist upon a strict performance of any of the terms, conditions and covenants hereof shall not be deemed a relinquishment or waiver of such terms, conditions or covenants, nor shall it be construed as a condonation of any subsequent breach of default of the terms, conditions and covenants hereof, which terms, conditions and covenants shall continue to be in full force and effect. The subsequent acceptance of rent by the LESSOR shall not be deemed to be a waiver of any prior breach by the LESSEE of any term, covenant or condition for this lease regardless of LESSORs knowledge of such prior breach at the time of acceptance of such rent. No waiver by the LESSOR of any of its rights under this Contract shall be deemed to have been made unless expressed in writing and signed by the LESSOR. c) NOTICE Where demand or notice is required to be given under this Contract, notice sent to the LESSEE at the Leased Premises or at the address specified above by registered mail or by personal delivery shall be considered sufficient compliance with the requirement of notice or demand. d) DEMAND TO VACATE Deposit in the Leased Premises of a notice to vacate the premises shall constitute due and sufficient notice to the LESSEE. e) LAW AND VENUE APPLICABLE This contract shall be construed, interpreted and governed by the laws of the Philippines. Each party submits to the exclusive jurisdiction of the courts within the City of Davao for the purpose of enforcing any right or obligation under or arising out of this Contract. f) ENTIRE AGREEMENT This Contract constitutes the complete understanding between the parties with respect to the subject matter hereof and supersedes any prior expression of intent, representation or warranty with respect to this transaction. This contract may be amended but only with an instrument in writing signed by the parties. g) ADDITIONAL TERMS AND CONDITIONS This lease shall be subject to the additional terms and conditions specified in Annex A. All the Annexes of this Contract constitute an integral part hereof. h) SEVERABILITY if any one or more provisions of this Contract is declared invalid or unenforceable in any respect under any applicable law, the validity, legality or enforceability of the remaining provisions contained herein shall not in any way be affected or impaired. IN WITNESS WHEREOF, the parties have hereunto signed their hands this ___________________________________ in the City of Davao, Philippines.

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LA CIMA REALTY DEV. CORP. Represented by:

______________________ Represented by:

JOSE EMMANUEL M. PACHECO Lessor

_______________________

Lessee:

Signed in the presence of: ______________________ GREGGY CHIONG ACKNOWLEDGMENT REPUBLIC OF THE PHILIPPINES) City of Davao ) s.s. BEFORE ME, a Notary Public for and in the City of Davao, personally appeared: NAME
Jose Emmanuel M. Pacheco

______________________

COMPETENT EVIDENCE OF IDENTITY


Passport # EB0307414

CTC No./DATE/PLACE OF ISSUE


21801997/Feb 01,2011/Taluntalunan,Makilala

Who represented to me to be the same persons who executed the foregoing instrument and who acknowledged to me that the same is their free and voluntary act and deed. This Contract of Lease consists of 18 pages, including this page, and to which Annex A has been attached to form an integral part of this Contract. Each page of this Contract, including the attached Annex A have been signed by the parties and their instrumental witness. WITNESS MY HAND AND SEAL on the date and place above written. Doc No._________; Page No._________; Book No.________; Series of _________.

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ANNEX A ESSENTIAL PROVISIONS


LESSOR LESSEE TERM OF LEASE LOCATION AREA SIZE : : : : : year to commence on_____ and end on Door 102, La Cima Bldg 1, McArthur Highway cor. Duhat & Camia Streets, Matina, Davao City, Philippines Floor area of 24 square meters CCTV, Generator Set, Overhead Water Tanks, Elevator, Security Guard at Night, Perimeter & Hallway Lights LA CIMA REALTY DEVELOPMENT CORPORATION

UTILITIES, SERVICES And AMENITIES : SHOP NAME : KIND OF BUSINESS : SIGN OF SIGNAGE :

Maximum of: Width 3.8meters; Length 0.4 meters

LESSEES OBLIGATIONS: MONTHLY RENTAL : VALUE ADDED TAX : Eleven Thousand Twenty Five Pesos (P 11,025.00), exclusive of VAT to be paid every ___ day of the month it corresponds. 12% of the monthly rental

CUSA MONTHLY CHARGE: One Thousand One Hundred Two & 50/100 Pesos (P 1,102.50) to be paid every 1st day of the month it corresponds RATE ESCALATION : 5% of the original monthly rental and CUSA charges on the Third Yeasr, 5% of the monthly rental and CUSA charges of the Immediately preceding month of the Seventh Year : Deposit equivalent to three (3) Months rental

SECURITY BOND

LESSEE shall pay for the documentary stamp tax and other charges and fees for the execution of this Lease Contract and procurement of permits/registrations required by the Government in the City of Davao. PENALTY/SURCHARGE: Accounts unsettled three (3) working days after the due date of the statement are subject to 5% penalty or surcharge per month.

LA CIMA REALTY DEV. CORP. Represented by:

_____________________ Represented by: _____________________ Lessee:

JOSE EMMANUEL M. PACHECO


Lessor

Signed in the presence of: _____________________ ______________________

GREGGY CHIONG

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