CONTRACT OF LEASE

KNOW ALL MEN BY THESE PRESENTS:

This CONTRACT OF LEASE made and entered into this _____ day of June 2019 at Bacolod City,
Philippines, by and between:

___________________________, a corporation duly organized and existing under Philippine laws,

with office address at OFFICE ADDRESS, represented by its REPRESENTATIVE, of legal age,
married, Filipino and a resident of Bacolod City, Philippines, hereinafter referred to as the LESSOR,

- and -

LESSEE, likewise a single proprietorship duly organized and existing under Philippine laws,
with office address at ADDRESS, represented by its REPRESENTATIVE of legal age, married,
Filipino and a resident oF RESIDENCE, Philippines, hereinafter referred to as the LESSEE,

WITNESSETH:

That for and in consideration of the payment of the rent and the compliance of all the terms,
conditions and covenants hereinafter contained, the LESSOR has agreed to lease, as it does hereby
lease, let and demise unto the LESSEE and the latter has agreed to accept under this lease, the
premises known and designated as:

“DISCRIPTION OF THE LEASED PROPERTY”

subject to the following covenants and conditions:

1) This lease shall be for a period of ONE YEAR (1) ONLY, which shall commence on
June 1, 2022 and shall expire on May 31, 2023.

2) For the duration of the lease period the LESSEE agrees to pay the LESSOR or its
authorized representative for the use of the leased premises, a monthly rental of
TWO PESOS AND 86/100 plus TWELVE PERCENT (12%) VAT and less FIVE
PERCENT (5%) Withholding Tax or a net rental of ______________________ PESOS every
month.

3) Upon signing of this contract, the LESSEE shall remit a sum equivalent to two (2)
months rentals for or ______________________, which is not interest bearing and shall not
be applied to current rentals due but will serve as a security deposit to answer for
any and all damages that may be caused to the leased premises and another sum of
one (1) month rental to be applied on the last month.

4) Upon signing of this contract, the LESSEE shall issue TEN (10) postdated checks
payable to the LESSOR to cover the first period of the lease and the said checks shall
be dated on the first (1st) day of each month starting June 2022 and every month
thereafter to cover the rentals for the remaining lease period.

5) Without prejudice to the exercise by the LESSOR of its rights under paragraph 36
hereof or the right of the LESSOR to terminate this agreement for failure to pay the
monthly rental within the period stipulated, should be herein post-dated checks be
dishonored for whatever reason or cause or should any of the above monthly rental
be not paid on the date specified, said monthly rental shall draw a penalty in the
sum equivalent to ten (10%) percent a month of the same.

6) It is hereby agreed and understood by the parties herein that any and all rentals the
payment of which are in arrears must first be fully paid before this contract is
renewed for another term. Moreover, in case of pre-termination of this lease
agreement at the instance of the LESSEE, the two (2) months rental deposit
 provided for in the preceding paragraph shall be forfeited in the favor of the
LESSOR.

7) The rentals provided herein shall be paid in advance by the LESSEE to the LESSOR
at the latter’s office in Bacolod City during the first five (5) days of each month
during the lifetime of this contract without necessity of any demand whatsoever or
to the treasurer or duly authorized representative who is authorized to collect and
receive payments for the LESSOR.

8) Rentals shall be paid in cash. However, the LESSEE may pay the rentals herein
agreed upon in checks as above-specified.

9) Except for the cooking equipment of its food products, (which should not be “gasul”
based) the LESSEE shall not bring into or store in the leased premises anything
which is highly inflammable or explosive in nature nor install therein any apparatus,
machinery or their equivalent which may cause tremors or irritable noise, or which
may expose the leased premises to fire or increase the fire hazard of the building or
change the insurance premium of the building, or any other article which the
LESSOR may reasonably prohibit, it being understood that should the LESSEE do so,
not only shall he be responsible for all damages that such violation may cause the
LESSOR and/or its other tenants, but the LESSOR shall, in addition thereto, has the
right to cancel this contract. If the LESSEE shall so use the building or deposit
therein any such matter which will result in any increase in the premium of the
insurance, the increase in payment shall be charged to the account of the LESSEE.

10) For the convenience and protection of all tenants, the LESSOR reserves the right to
fix the time and prescribe the manner by which furniture, equipment and/or bulk
supplies may be brought in or out of the building. In case the LESSEE has an
outstanding obligation under this contract, the LESSOR as well as it employees,
agents, or representatives, whether by force or otherwise, shall have the right to
take out furnitures, fixtures or their equivalent from the leased premises to cover or
satisfy said obligation.

11) The LESSEE shall comply with all reasonable rules and safety regulations which may
be promulgated from time to time by the LESSOR and with all the rules, regulations,
ordinances and laws that may be required or promulgated by the health or other
duly constituted authority regarding the use, occupancy and sanitation of the leased
premises.

12) The LESSEE shall indemnify and hold harmless the LESSOR against all actions, suits,
damages and claims that may be brought by reason of the non-observance or
compliance of the said rules, regulations, ordinances or laws or of any other
covenants and stipulations of this contract.

13) It shall be the responsibility of the LESSEE to pay the electric, water, telephone bills
to the public utilities company concerned and in this manner, the LESSEE shall be
considered as the sole concessionaire and shall settle said bills within ten (10) days
from receipt of notice thereof.

14) The LESSEE hereby assumes full responsibility for any damage which may be
caused to the person or property or third person 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 liability or from any such claim or injury or
damage arising therefrom.

a) The LESSEE shall be fully liable to the LESSOR in all cases where the damage
of any nature or kind is caused by the fault or negligence of the LESSEE, his
employees, agents or visitor;

........ ADDITIONAL STIPULATION

 IN WITNESS WHEREOF, the parties have hereunto set their hands this ___ day of
May, 2018 at ___________________ Philippines.

Lessor Lessee

By: REPRESENTATIVE By:

SIGNED IN THE PRESENCE OF:

____________________________ ___________________________

ACKNOWLEDGEMENT

REPUBLIC OF THE PHILIPPINES}

CITY OF BACOLOD } S.c.
x-------------------------------------------- x

BEFORE ME on this _________________ in the City of Bacolod, Philippines personally appeared:

with her Government ID ___________________ issued at __________________ on _______________________ and
Reine C. Chang with his Government Issued ID No. ________________________ issued at _________________ on
____________________who are both known to me to be the same persons who executed the foregoing
instrument and they acknowledge to me that the same is of their free and voluntary act and deed.

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

NOTARY PUBLIC

Doc. No. ____

Page No. ____
Book No.____
Series of 2022.