CONTRACT OF LEASE

KNOW ALL MEN BY THESE PRESENTS:

This contract entered into by and between TEOPISTA NARANJO, of legal age,
Filipino, married and a resident of 190 E. Lopez St. Jaro, Iloilo City, hereinafter referred
to as the LESSOR and MARY EDEN V. YAP, likewise of legal age, Filipino, married and
a resident of 99-B Sta. Isabel Subd., Sambag, Jaro, Iloilo City, hereinafter referred to as
the LESSEE.

WITNESSETH

That the LESSOR is the owner of the building located at the above address portion of
which is offered and the LESSEE accepted the offer for lease under the following terms
and conditions:

1. That the monthly rental is TEN THOUSAND PESOS (Php 10,000.00)

2. That the LESSEE shall pay the LESSOR TWENTY THOUSAND PESOS (Php
20,000.00) for one (1) month advance rental and for one (1) month deposit;
3. That the said amount in fact have already been paid receipt of which is hereby
acknowledged by the LESSEE;
4. That this contract shall be for a period of FIVE YEARS starting March 1, 2016 to
March 1, 2021 renewable at the option of the LESSEE;
5. That payment of the monthly rental of TEN THOUSAND PESOS (Php 10,000.00)
shall start on the first week of April 2016 and for every first week of the succeeding
months thereafter;
6. That electric current in said establishment shall be for the account of the LESSOR
as the electric meter may register;
7. That the LESSEE shall maintain the premises leased in good order and condition
including minor repairs when necessary;
8. That permanent improvements introduced and are found in the premises shall not
be removed without destroying the place.

IN WITNESS WHEREOF, the parties have hereunto affixed their signatures this 27 th
day of January 2018 in the City of Iloilo, Philippines.

TEOPISTA NARANJO MARY EDEN V. YAP

Lessor Lessee

SIGNED IN THE PRESENCE OF:

_______________________ ________________________
 ACKNOWLEDGEMENT

Republic of the Philippines)

______________________) S.S

BEFORE ME, a notary for and in the City of Makati, personally appeared:

Name ID Number Date/Place Issued

known to me and to me known to be the same persons who executed the foregoing Deed
of Donation and acknowledged to me that the same is their free and voluntary act and
deed.

WITNESS MY HAND AND SEAL, on the date and place first above written.

Doc. No.21;
Page No. 5;
Book No. 1;
Series of 2018.