BUSINESS SPACE LEASE AGREEMENT

KNOW ALL MEN BY THESE PRESENTS:

This BUSINESS SPACE LEASE AGREEMENT is executed

and entered into by and between:

DIANA S. SALVADOR, single, of legal age, Filipino citizen,

with residence and postal address at 32 Cabinet Hill., Baguio City,
Philippines, hereinafter referred to as the LESSOR;

-and-

DONNA MARIE G. CRUZ, single, of legal age, Filipino citizen,

with residence and postal address at 35 Pacdal, Baguio City,
Philippines, hereinafter referred to as the LESSEE.

WITNESSETH:

PREMISES LEASED:

The LESSOR shall allow the LESSEE to rent/lease the lower

and/or basement portion of a Commercial Building located at Juan
Dela Cruz Building., Magsaysay Road., Baguio City, Philippines. The
basement portion has two (2) partitions with separate entries, viz:

1. One partition with ingress from the front gate/garage which is

not included in the lease contract;
2. One partition with entry outside and adjacent the gate is the
exact location of the leased premises.

Beginning from the Northwest side along the main road fronting
the gate until the interior portion Northeast to Southeast portion
or specifically the left portion of the basement fronting the main
gate is not included the lease. The LESSEE’S occupation is
only and specifically outside the main gate’s perimeter or the
right portion of the residential building’s basement situated at
Southwest until the Southeast portion with reference point
facing the residential building from the main road.

PERIOD OF CONTRACT, RENTAL, DEPOSIT, DUE DATE AND

SURCHARGES:

This contract of lease shall be binding and enforced for the

period of one (1) year beginning from January 14, 2020 until January
14, 2021 provided however, that the LESSEE shall pay proportional
rent for the period January 14, 2020 to January 31, 2020.

The contract shall not be renewed after March 30, 2020.

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 In case there is valid cause to pre-terminate this contract, the
party pre-terminating the same shall give notice to the other at least a
month prior to the effectivity of pre-termination.

The monthly rental shall be TWENTY THOUSAND PESOS

(PhP20, 000.00) payable every last day of the applicable month
starting on February 28, 2013. The rental for the period January 15,
2020 to January 31, 2020 amounting to TEN THOUSAND PESOS
(PhP10, 000.00) shall be paid not later than January 31, 2020.

The LESSEE agrees that the deposit in the amount of TWENTY

THOUSAND PESOS (PhP20,000.00) for the previous lease contract
shall apply to this contract. The deposit shall be returned to the
LESSOR one month after the expiration of this contract less whatever
utility bills and damages incurred by the LESSOR.

In the event that the LESSEE would be delayed in the financial

obligation and the payment would only take effect on or before 10th of
the succeeding month, a 10th surcharge is added to the previous
monthly rental dues. Another 10th surcharge would be meted the
delayed payment if such would be concluded after the succeeding
month’s ending.

TERMS AND CONDITIONS OF THE LEASE:

1. The LESSEE shall, at his sole exclusive account and

responsibility, pay the electric and water bills pertaining to the
leased premises;
2. The LESSEE shall not make any alteration, modification and/or
change or in any manner introduced improvements or repair in
the leased premises whether minor or major, temporary or
permanent, unless otherwise with the written consent and
approval of the LESSOR. The LESSEE is legally liable of any
damages incurred in the alteration of the leased property and
shall at her expense pay such damages.

Specifically for improvements of the rented premises negotiated

to the LESSOR, expenses shall be shouldered solely by the LESSEE
as deem fit for its intended purposes. These improvements shall in no
way be destroyed and/or altered by the LESSEE should this contract
be terminated with reason or due cause;

3. The LESSEE shall in no case sub-lease the rented premises;

4. The LESSEE shall be obligated to maintain sanitation in the
premises and observe proper waste disposal of garbage;
5. The LESSEE is obliged to install anti-fire gadgets and/or fire
extinguishers for fire prevention which shall not be taken away

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 after the termination of the contract. The LESSEE shall strictly
prohibit smoking in the rented premises;
6. Liquefied gas (LPG) for cooking purpose only is allowed for use.
No ‘flammable” material of any kind whatsoever shall be used,
stored or maintained by the LESSEE in the leased premises.

IN WITNESS WHEREOF, the parties have hereunto set their

hands this 19th day of August 2019 in the City of Baguio, Philippines.

DIANA S. SALVADOR DONNA MARIE G. CRUZ

Lessor Lessee

SIGNED IN THE PRESENCE OF:

DINA S. ALAMUT DENISE C. JOAQUIN

ACKNOWLEDGMENT

REPUBLIC OF THE PHILIPPINES}

DONE: IN THE CITY OF BAGUIO }S.S.
X =========================== X

BEFORE ME, a Notary Public in and for the City of Baguio, this
19th day of August 201 personally appeared DIANA S. SALVADOR
and DONNA MARIE G. CRUZ personally known to me to be the
same persons who voluntary executed the foregoing Business Space
Lease Agreement which they acknowledged before me as their free
and voluntary acts and deeds.

This instrument consisting of TWO (2) pages, including the

page on which this acknowledgment is written has been signed on
the left margin of each and every page thereof by the parties and
their witnesses.

WITNESS MY HAND AND SEAL.

Doc. No. __;

Page No. __;
Book No. __;
Series of 2019.

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