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SUB-LEASE AGREEMENT

DATE OF AGREEMENT :

SUB-LESSOR : R. JOSEPH HOLDINGS SUBIC INC.

SUB-LESSEE : CREED OF ATRIUM SALONS

AREA of SUB-LEASE : There will be total of one hundred eighty (180)


square meters commercial space of RJ Building
located along Rizal corner Argonaut Highway Subic
Bay Freeport Zone, Olongapo Philippines.

USE of PREMISE : The use of the Sub-Leased area by the Sub-


Lessee shall be in accordance with the Sub-Lessee’s
SBMA Certificate of Registration and in compliance
with the conditions of the Primary Lease between
SBMA and R. Joseph Holdings Subic Inc. Specifically;
the premise shall be used by the Sub-Lessee for
warehousing purposes with special authority for the
operation of the building.

No illegal, immoral or un-ethical activities shall be


allowed on the premise. No alcohol, drugs or narcotic
substances shall be allowed on the premises. No
firearms, weapons, bombs, grenades or knifes greater
than 3 inches in blade length shall be allowed on the
premise.

TERM of SUB-LEASE : The term of this agreement shall be for a period


of ____ (_) years commencing on June 20, 2016
(Commencement Date) and continuing thereafter
until June 19, 201_ (Termination Date) with option to
renew with an escalation of five percent (5%) per
annum. In any case the Sub-lessor has to accomplish
major reconstruction; sub-lessee has the right to
demand for relocation to other facilities of Sub-
lessor. The Sub-lessee’s vacation of the vicinity in less
than a year will emerge a penalty equivalent to three
(3) months of monthly rental.

RENTAL PAYMENT : Total amount of Php 57,500.00 per month


exclusive of SBMA sublease share rental. Therefore,
the sublease share rental shall be directly remitted by
the Sub-lessor to SBMA without need of demand.

RENTAL PAYMENT : The rental payment for each month shall be


made in advance to the Sub-Lessor by issuing
postdated cheques on a yearly basis. Any rental
payment made after the last day of the month is
subject to penalty amount of One Thousand Pesos
(Php 1,000.00) for each day of the month until it is
paid.

SECURITY DEPOSIT : A total amount equivalent to Two (2) months


shall be paid to the Sub-Lessor for Security Deposit.
This Security Deposit will be held by the Sub-Lessor
and will be returned to the Sub-lessee within 15 days
after the termination of the occupancy by the Sub-
Lessee provided there is no damage to the Building
1143 by the Sub-Lessee, no outstanding utility
charges, on other outstanding fees, charges or costs
incurred by the Sub-Lessee and potentially payable
by the Sub-Lessor.

DOWNPAYMENT : A total amount equivalent to Two (2) months


shall be paid to the Sub-Lessor for Down payment.

UTILITIES : Use of water and Sewer are not included in the


rental amount.
Any costs related to Electricity equipment or
installation is for the account of the sub-lessee.

NON-PAYMENT : Any payment for rent or for other passes through


expense due to Sub-lessor by the Sub-Lessee that is
more than fifteen days late shall be considered non-
payment by the Sub-Lessor and will be grounds for
termination of the Sub-lease Agreement and eviction
of the Sub-lessee by the Sub-Lessor.

SUB-SUB LEASING OR ASSIGNMENTS: The Sub-Lessee may not Sub-Sub Lease, assign
transfer the Sub-Lease to any person, firm,
corporation or entity.

TERMS of MASTER LEASE : All terms condition, rules, regulations,


ordinances, covenants, zoning, proclamations of the
Landlord of the Master Lease apply to the Sub-Lessee
the same as they apply the Lessee.

MODIFICATIONS TO BUILDING: No modifications to the building can be made


without the express written permission of the Sub-
lessor and that of the SBMA. Any costs related to
modifications including planning, design, building
permits, constructions activities are the sole
responsibility of the Sub-Lessee.

TERMINATION: Either party may terminate the Sub-Lease Agreement


by giving the other party written notice of
Termination 30 days in advance of such termination.

Any violation of SBMA rules, regulations, covenants,


ordinances and terms of conditions of the master
lease by the Sub-Lessee will be grounds for
immediate termination of the Sub-Lease Agreement
by the Sub-Lessor.

INSPECTION : Sub-Lessor has the right at any time with


reasonable notice to inspect the Sub-Lessee area.
Such notice will not have to be given should there be
an emergency as deemed so by the Sub-Lessor.

ACCES : The Sub-Lessor shall provide reasonable access


to the Sub-Lessee’s area. The Sub-Lessee will not
impede of otherwise block any access to the building
for any reason.
CARE of SUB-LEASED AREA : Sub-Lessee shall at its own expense, care for the
Sub-leased area and keep the area in a clean and
sanitary condition free from dust, debris and
accumulation of unnecessary materials that may be a
fire hazard. The Sub-Lessee will not allow its
employees, visitors, agents or anyone else damage
the property in any way.

INDEMNITY : The Sub-Lessee shall indemnify, hold harmless


and defend the Sub-lessor, its subsidiaries, their
respective directors, officers, employees, agent and
other representatives from an and all claims
including those death, injury and fire loss; any other
demands, actions, liabilities and all costs and
expenses incidental to the investigation and defense
thereof arising out of the Sub-Lessee’s use and
occupancy of the Sub-leased property.

FORCE MAJUERE : In the event beyond the control of the Sub-


Lessor including but not limited to Acts of God, Acts
of War, Fire, civil disobedience, labor action, strike,
riot, boycott, embargo, utility outage, act of superior
government authority, rebellion sabotage,
earthquake, adverse weather, or other events that
renders either parties obligation under this
agreement extremely difficult or so impractical as
reasonably to be considered impossible under the
circumstances neither party shall be in violation of
the Sub-Lease. The Sub-Lessee however shall not be
relieved of any prior obligations of terms and
conditions, rents, expenses or fees due to the Sub-
Lessor.

OTHER CONDITIONS : The Sub-Lessor does not in any way warrant the
premise. The premises are in is where condition is.
The Sub-Lessor will not be responsible in any way for
losses or damages for any reason of the Sub-Lessee
property or persons.
AGREED TO BY SUB-LESSEE: AGREED TO BY SUB-LESSOR:

CREED OF ATRIUM SALONS R. JOSEPH HOLDINGS SUBIC INC.


NAME NAME

EDWIN CHOI RALPH L. JOSEPH


TITLE: PROPRIETOR TITLE: PRESIDENT

__________________________ ______________________________
DATE DATE

SUBSCRIBED AND SWORN TO before me this _______ day of _______, at ________.

DOC NO. _______


PAGE NO. _______
BOOK NO. ________
SERIES OF.__________