CONTRACT OF LEASE

KNOW ALL MEN BY THESE PRESENTS:

This Agreement made and entered into by and between

BEERSHEBA HOUSE ROOM RENTAL, a corporation duly organized and existing under and
by virtue of the Corporation Law of the Philippines and having its principal office at # 8 M.H. Del Pilar,
Burnham-Legarda, Baguio City, represented in this act by its Manager, Fe Emily A. Solis, hereinafter
referred to as the ASSIGNOR OF SPACE;

AND

MARY JOAN ALBERTO-CAYABYAB of legal age, Filipino, with address at 3 Lower Padre
Burgos, Baguio City, hereinafter referred to as the ASSIGNEE OF SPACE

WITNESSETH:

1. That the ASSIGNEE OF SPACE and the ASSIGNOR OF SPACE agree that the subject of this
lease is a space in Beersheba House Room Rental, No. 8 M.H. Del Pilar, Burnham-Legarda, Baguio
City, which the ASSIGNEE OF SPACE has accepted on an “as-is-where-is” basis.

2. That for and in consideration of the above, the ASSIGNEE OF SPACE do hereby binds itself to
pay the ASSIGNOR OF SPACE the amount of ONE THOUSAND & 00/100 PESOS (1,000.00)
per month effective AUGUST 1, 2019.

Should the ASSIGNEE OF SPACE pre-terminate this Contract of Lease; the ASSIGNEE OF
SPACE shall pay the entire contract amount to the ASSIGNOR OF SPACE. Any amount paid in
advance by ASSIGNEE OF SPACE including deposit shall be applied to the remaining account
of the ASSIGNEE OF SPACE.

Under any circumstance that the assigned space is no longer available within the stipulated time,
the ASSIGNEE OF SPACE will no longer be bound by this contract.

3. This Contract of Lease shall be for a period of two (2) years beginning the 1st of August 2019 and
shall automatically expire or terminate on the 31st of July 2021.

After the first year, 10 percent (10%) increase will be implemented and maybe renewed prior to
expiration on a yearly basis at the option of the ASSIGNOR OF SPACE, two (2) months prior
to the expiry of lease which is on or before June 1, 2021.

4. ASSIGNEE OF SPACE will be responsible for payment of the monthly utility bill.
Payment for the portions of any utilities will be due with the following month’s rent payment.

5. The ASSIGNEE OF SPACE agrees to furnish the assigned space at its own expense and vacate
the assigned space the same condition as when first occupied.

6. It is hereby agreed and covenanted that the assigned space shall be used by the ASSIGNEE OF
SPACE for food services and shall not use the said ASSIGNED SPACE other than the specified
purpose.

7. It is agreed that the ASSIGNEE OF SPACE shall be responsible for the behaviors, demeanor and
safety of its members and guests. Further, they shall abide by the House Rules of the ASSIGNOR
OF SPACE. The ASSIGNOR OF SPACE shall not be held liable for any injury, accident or loss
of lives incurred inside or outside of the building.
8. The ASSIGNEE OF SPACE agrees that he shall not assign the space in whole or in part, nor
engage in any activity outside of the space as agreed.

9. The ASSIGNEE OF SPACE agrees that it shall maintain the ASSIGNED SPACE in good,
serviceable condition. Upon expiration of this Contract of Lease, any and all improvements made
by the ASSIGNEE OF SPACE on the assigned shared space excluding fixtures and furnishings
which could be removed, without in any way causing damage to the said space, shall remain the
property of the ASSIGNOR OF SPACE.

10. The ASSIGNEE OF SPACE agrees that it shall not make any alteration on the assigned shared
space and its premises without the prior and written consent of the ASSIGNOR OF SPACE. The
ASSIGNEE OF SPACE shall procure the necessary government permits for the authorized
alterations and the expenses thereto shall be for his account.

11. Any authorized repair, maintenance job and renovations to be conducted on the leased premises
shall be the sole expense of the ASSIGNEE OF SPACE. Should the repair be a minor one, the
ASSIGNOR OF SPACE will schedule repairs and maintenance works so as not to disturb the
dwelling of the ASSIGNEE OF SPACE.

12. The ASSIGNEE OF SPACE shall comply with the ASSIGNOR OF SPACE’S restrictions as
follows:

a. Hanging of clothes or washes rags at the façade of the building shall not be allowed.
b. Pets are not allowed inside the building.
c. Garbage segregation and disposal is strictly implemented and in accordance to existing city
ordinance.
d. Smoking and alcohol are not allowed.
e. Other house rules (Attached)

13. The ASSIGNEE OF SPACE shall always comply with health and safety standards to avoid any
untoward accident.

In case of fire as a result of the ASSIGNEE OF SPACE’s fault and / or negligence, the
ASSIGNEE OF SPACE shall be held liable for the cost of damages and other related incident
thereto such as but not limited to injury, loss of property and loss of lives. The ASSIGNOR OF
SPACE shall be completely and absolutely discharged including its successor-in-interests,
representatives, officers, agents and assigns from all liabilities whether completely or partially,
directly or indirectly from any and all claims thereto.

14. The ASSIGNOR OF SPACE reserves the right to conduct inspections of the Assigned shared
space and its surrounding at reasonable time of the day by giving advance notice to the
ASSIGNEE OF SPACE.

15. The ASSIGNEE OF SPACE further acknowledges that any violation of the rules and regulations
of the ASSIGNOR SPACE shall be enough ground for the ASSIGNOR OF SPACE to terminate
this Contract Lease.

16. The parties hereto agree that all disputes from the implementation of this contract shall be heard
before the competent judicial body and venue in Baguio City.

17. The ASSIGNOR OF SPACE reserves the right to pre-terminate the Contract by giving a written
notice to the ASSIGNEE OF SPACE at least thirty (30) days prior to the intended date of
termination.
 IN WITNESS WHEREOF, the parties hereto have signed these presents this ,
in the City of Baguio, Philippines.

FE EMILY A. SOLIS MARY JOAN ALBERTO-CAYABYAB

Manager Business Owner

ASSIGNOR OF SPACE ASSIGNEE OF SPACE

Signed in the presence of:

_____________________________ and _____________________________

ACKNOWLEDGEMENT

Republic of the Philippines)

City of Baguio ________) S.S

BEFORE ME, in the City of Baguio, this 30th day of 2017 , personally appeared the parties,
made known to be the same person who executed the foregoing instrument and signed it in my presence,
and that they acknowledged to me that the same are their free act and voluntary deed.

WITNESS MY HAND AND NOTARIAL SEAL.

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