CONTRACT OF LEASE

KNOW ALL MEN BY THESE PRESENTS:

This contract, entered into by and between

___________________, of legal age, ______, Filipino citizen and a
resident of ______________________________, Philippines, hereunto
called the LESSOR and _______________, of legal age, ___________,
Filipino citizen and a resident of
_________________________________________, Philippines, hereunto
called the LESSEE,

WITNESSETH

1) That the Lessor is the owner of a commercial building

situated at ____________________________, Philippines;
2) That the Lessee desires to rent and lease a portion of
the said building;
3) That the lessee shall observe the following terms and
conditions:

a) That the term of the lease shall be from

____________ to ___________;

b) That the monthly rental shall be

___________Thousand
Pesos(P__________.00), Philippine
currency to be paid on or before the
_________________of each month, the
same to be collected by the LESSOR or
his duly authorized representative at
the premises leased by the LESSEE;

c) That lessee upon termination of the

contract can remove the improvements
introduce provided the leased premises
shall not suffer damages.

d) That the fixed improvements shall be

paid by the lessor deducting ______
thousand pesos (P__,000.00) from the
 monthly rentals until the improvement
is fully paid;

e) That the lessee hereby agrees that any

fix/permanent improvements shall now
be owned by the Lessor if ever this
contract is terminated;

f) That all bills, i.e., ELECTRIC,

TELEPHONE, (should there be any)
shall be paid and born by the lessee;

g) That any action arising from this

contract shall be cognizable in the
proper courts of Laoag City, Ilocos
Norte;

h) That this contract shall expire yearly,

but the same may renewed upon the
agreement of both parties;

That the parties hereby agree to all the above-terms and

conditions.

IN WITNESS WHEREOF, we have hereunto set our hands

this _______________ at Laoag City, Philippines.

____________________ __________________
(Lessee) (Lessor)

SIGNED IN THE PRESENCE

________________________ _________________________

REPUBLIC OF THE PHILIPPINES )

CITY OF LAOAG ) S.S.
 BEFORE ME, this ____________ at Laoag City, Philippines,
personally appeared _____________________, whose CTC Nos.
are indicated below their respective names and signatures,
known to me and to me known to be the same persons who
entered and executed the foregoing CONTRACT OF LEASE
and who acknowledged to me that the same are their free
and voluntary act and deed.

WITNESS MY HAND AND SEAL, on the day, year and place

first above-written.