CONTRACT OF LEASE

KNOW ALL MEN BY THESE PRESENTS :

This Contract of Lease, made and entered this ____ day of _______ in ________
Philippines by and between:

NENITA P. ROSAS, Filipino, of legal age, with address at Blk 14 D1 Lot 1F

Herbosa St. cor Quezon St., Tondo, Manila, hereinafter referred to as the LESSOR;

-and-

CHARLES OLIVER K. GENATO, with address at 65 15th Ave., Brgy. Socorro,

Murphy, Cubao, Quezon City, and known in this contract as the LESSEE;

WITNESSETH; That

WHEREAS the LESSOR is the owner of parcel of land with improvements

thereon and has the right to lease out one (1) commercial space located at the
aforementioned building located at 7-C Herbosa St., cor. Quirino St., Brgy 107, Zone
9, Tondo, Manila, hereinafter referred to as the “LEASED PREMISES”.

WHEREAS, the LESSEE is engaged in the Pharmaceutical Retail Business and

is interested in leasing the LEASED PREMISES of the purpose of operating a pharmacy;

WHEREAS, the LESSEE desires to lease from the LESSOR floor spaces within
the Property Area, hereinafter the “Leased Premises” and the LESSOR is willing to lease
the same unto the LESSEE;

NOW THEREFORE, for and in consideration of the foregoing premises and of the
following stipulations and covenants, the parties hereunto have agreed as follows:

1. LEASED PREMISES - The LESSOR hereby leases, lets and grants

unto LESSEE, by way of lease a floor area of THIRTY (30) SQUARE METERS, more
or less hereinafter referred to as the “Leased Premises,”

2. REPRESENTATIONS AND WARRANTIES- As principal

consideration which induced LESSEE to enter this Contract of Lease, LESSOR has
represented and warranted, as it represents and warrants to LESSEE that:

(a) LESSOR has the legal power and authority to lease the leased
premises to LESSEE and to execute this Contract of lease and
when executed this Contract of lease shall be legal, valid and
binding, and constitute LESSOR’S legal, valid and binding
obligation enforceable in accordance with its terms and
conditions;

(b) LESSEE”s right to the peaceful and uninterrupted possession

use and enjoyment of the Leased Premises under this Contract of
Lease and shall not be disturbed or impaired, except when
LESSEE violates the terms and conditions of this lease
Agreement.

(c) LESSOR shall physically turn over the Leased Premises to

LESSEE upon signing of the Contract of Lease in leaseable
condition .

(d) The Leased Premises are free and clear of any liens and/or
encumbrances of whatever nature, except those prescribed by
laws.
 (e) The Property and/or Building and/or the Leased Premises are
not subject of and/or involved in any suit before the courts or
administrative bodies;

(f) LESSOR shall defend its title over and/or building and/or
leased premises against the claim of third parties whomsoever
and to save free and harmless LESSEE from any and all
damages that LESSEE may incur, suffer or be held liable for
arising from any such third –party claim or claim

(g) The LESSOR represents and warrants that the LEASED

PREMISES conforms in all respects to the principles of safe
construction is suited to the purpose for which the premises are
designed and for which they are leased; and complies, and
continues to comply with the prevailing laws regulations
including the National Building Code of the Philippines.

3. TERM - The Term of this Contract of Lease shall be for a period Three
(3) year commencing on December 1, 2020 up to and until
November 30, 2023.

4. ACCEPTANCE OF LEASED PREMISES - LESSEE shall accept from

LESSOR the Leased Premises with the following basic conditions:

(a) The Leased Premises is clean, free from occupants and debts
and ready for LESSEE to introduce LESSEE’s desired
improvements;

5. RENT - Rental payment shall commence upon the signing of this

Contract of Lease. LESSEE shall pay LESSOR a monthly rental of
PESOS: SIX THOUSAND ( Php 6,000.00), Philippine Currency,
inclusive of the twelve per cent (12%) Value Added Tax and 5%
withholding tax.

6. SECURITY DEPOSIT - Upon signing of this Contract and before the

LESSEE enters into the Leased Premises, the LESSEE shall pay the
LESSOR an amount equivalent to one (1) month rent or the amount of
PESOS: SIX THOUSAND (Php 6,000.00), Philippine Currency, as
deposit to answer and stand as security for the proper and due
performance of the LESSEE’s obligations under this Contract. The
security deposit shall not be consumed for any rental payment of the
Leased Premises, or any other sum required to be paid hereunder on the
due date specified therefore. The security deposit shall be maintained by
the LESSEE and shall also be increased correspondingly by the LESSEE
as and when the rent increases. Such increase shall be payable on the
due date specified in the applicable statement of account.

The security deposit shall be forfeited in favor of the LESSOR upon occurrence of the
following events: (i) fails to occupy the Leased Premises for the full term of the lease or
any extension or renewal thereof. , or (ii) this Contract is terminated by the LESSEE for
whatever reason prior to expiry date of its term.

The security deposit shall be returned to the LESSEE without interests only after the
expiration of the term of this lease and after the LESSEE shall have completely and
satisfactory vacated and delivered the Lease Premises to the LESSOR, less whatever
amounts the LESSEE may owe the LESSOR or which the LESSOR may apply against
the security as provided hereunder. It shall be understood , however, that the application
of the security against any unpaid obligation of the LESSEE shall be effected only at the
termination of the lease. The LESSOR shall notwithstanding the delivery of the leased
premises to the LESSOR by the LESSEE , have the right to withhold any portion of the
security deposit until the LESSOR shall have received statements of account from utility
companies supplying telephone, water, electric power or public utility services to the
Leased Premises , covering the period ending on the date the LESSEE shall have
completely vacated and delivered the Leased Premises to the LESSOR . The amount
withheld shall answer for the payment of such statements of account and the balance
thereof remaining with the LESSOR after such payment shall be returned to the LESSEE
without interest.

7. USE OF PREMISES – The Leased Premises shall be used, occupied

And operated exclusively by the LESSEE as “PHARMACY”. The LESSEE shall not
divert the Leased Premises to other uses without the prior written consent of the
LESSOR.

8. BUSINESS SIGNS - In keeping with the standards of commercial

building and for the purpose of uniformity and beauty, LESSEE shall install and
maintain at his own cost and expense, signage on the Leased Premises. Provided further
that, LESSEE is able at his own expense, to secure the necessary permits from the
City/National Government and prior to installation be presented and approved by the
LESSOR as to the location within the subject premises.

9. IMPROVEMENTS, ALTERATIONS, INSTALLATION AND

ADDITIONS- LESSEE shall have the right to make at LESSEE’s exclusive expense
additions, improvements and alterations subject to LESSOR’s written consent, as the
nature of LESSEE’S BUSINESS REQUIRES.

Upon expiration or termination of this Contract of Lease, LESSEE may remove

such detachable improvements, additions and installations and other movable
improvements, provided that no substantial damage is caused to the Building and/or the
Leased Premises in the process of removal.

Notwithstanding the foregoing, LESSEE shall have the right to remove

permanent improvements or additions which contain designs and configurations inherent
to the LESSEE’s business signs or trademarks upon the termination or expiration of this
Contract of Lease, it being understood that LESSEE shall repair at its expense any
damage that may be caused to the Building and/or leased Premises in the process of
removing such improvements or additions normal wear and tear exempted.

10. SUBLEASE, TRANSFER OF RIGHTS- The LESSEE shall not

assign or transfer his/its rights in this Contract nor sublease all or any part of the Leased
Premises.

11. UTILITIES AND COMMON USE DUES - LESSEE shall pay for
its actual consumption of light, electricity water and other utilities within the leased
Premises. The LESSEE also agrees to pay common use dues charged by LESSOR. These
may include water pump electrical bill, security services and generator maintenance and
gasoline expenses and other expenses.

12. – NON-PAYMENT OF RENTAL FEE – In case the LESSEE fails to pay

TWO (2) MONTHS rental fee on the Leased Premises or in case any of the post-dated
checks issued by the LESSEE is dishonored as herein agreed, the LESSOR shall have the
right to cut-off the electric and water supply or services in the leased premises. Failure to
pay THREE (3) MONTHS rental fee shall give the LESSOR the automatic right without
need of formal notice or prior demand to terminate the LEASE CONTRACT and for this
purpose the LESSOR shall have the right to padlock the leased premises, prevent the
LESSEE from entering the leased premises and the LESSOR may take possession of the
leased premises without any liability whatsoever.

13. PERMITS AND LICENSES- LESSEE shall obtain at its own expense, all
permits and licenses required by the City and /or National Government for
the construction of LESSEE’S desired improvements and the operation of its
business.
 LESSEE shall comply with any and all supplemental rules and regulations set
down by LESSOR and those which may hereafter be promulgated from time to time by
LESSOR except on matters already covered by this contract or which runs counter to any
provision thereto, and all the laws, ordinances, rules and regulations promulgated by the
duly constituted authorities of the National, and /or City Government regarding the use,
occupancy, security and sanitation of the leased premises. PROVIDED, that all works of
temporary character which may be ordained by the National, and/or City authorities to be
placed or done on the leased premises shall be other be for the account and expense of
LESSEE.

14. CARE OF LEASED PREMISES- LESSEE hereby receives and

accepts physical possession of the leased Premises in good clean, sanitary and tenantable
condition, ordinary wear and tear excepted and bind himself to keep and to take care of
the leased Premises with the diligence of a good father of the family, keeping and
maintaining the same in good ,clean, sanitary and tenantable condition.

LESSEE may undertake repairs at its own expense the preservation, improvement
and/or ornamentation of the Building in which the leased Premises are located as it may
deem necessary, with the prior written consent of the LESSOR; PROVIDED, the
LESSOR shall not be liable for any inconvenience, annoyance, or injury to LESSEE
and/or his business customers, agent, employees, guest or any other person, resulting or
any such work under the foregoing provision.

LESSEE shall at its expense maintain the Leased Premises in a clean and sanitary
condition and free form all obnoxious or unpleasant odors, unnecessary loud noises or
other nuisances.

15. REPAIR - Ordinary repairs as well as extraordinary repairs caused

by the fault or negligence of LESSEE or its officers, employees, customers or agents,
made in or upon the Leased Premises and/or the equipment areas shall be for the account
of LESSEE.

LESSOR shall promptly repair and maintain the common areas, sidewalks
common utility lines under its control, roofs, water proofing of deck roof, foundations
and building/structural elements which are not the responsibility of the LESSEE, in good
condition and repair and in compliance with the law, government and insurance
regulations throughout the term of this Contract of lease and any extension thereof.

In the event that immediate repairs of areas/structures under the lessor’s

responsibilities are required and are affecting Lessee’s operations in the leased Premises,
LESSEE shall notify LESSOR in writing.

16. REAL ESTATE TAXES - LESSOR shall pay and be responsible for
real estate taxes levied on the Property and/or the Building by the National/City
Government or any of its instrumentalities. LESSEE shall pay and be responsible for the
real estate taxes levied on the improvements introduced on the leased Premises.

17. ABANDONMENT OF LEASED PREMISES – In case the leased

premises shall be abandoned before the expiration of the lease, the LESSOR has the right
to enter the Leased Premises whether by force or otherwise, without incurring any
criminal or civil liability therefore.

The Leased Premises shall be conclusively presumed to have been abandoned

upon the occurrence of any or more of the following events:
 i. When the LESSEE has taken all or almost all of its furniture and
equivalent from the premises.
ii. Any act of abandonment by the LESEE.

18. TERMINATION OF THE LEASE - LESSEE agrees to return and

surrender the leased Premises at the expiration of the term of this Lease in as good
condition as reasonable wear and tear will permit and without delay whatsoever, devoid
of all occupants, furniture, machinery, equipment and signages and effects of any kind,
other than such alterations additions or improvements which cannot be removed without
damaging the leased Premises.

19.      PRETERMINATION – LESSEE shall have the option to Pre-terminate this lease

upon giving a sixty (60) day prior notice to the LESSOR in the event that the LESSEE
determines that the LESSEE’s business is no longer economically viable to operate or for
any causes whatsoever.  If the LESSEE should  terminate this Contract before the
expiration, then the said security deposit and/or any balance thereof shall be
automatically forfeited in favor of the LESSOR. The LESSOR has the option of to pre-
terminate this lease if any conditions in this contract are violated.

20. DAMAGE OR DESTRUCTION TO LEASED PREMISES - In

case of damage to the leased Premises or its appurtenances by fire, earthquake, war or
any unforeseen cause, LESSEE shall give immediate notice thereof to the LESSOR. If
the leased Premises shall be damaged by fire or other causes without the fault or
negligence of LESSEE, after presentation of proof acceptable to both parties made in
writing such damage shall be repaired at the expense of LESSOR as speedily as possible
after notice is receive. But if the Building or the leased Premises be so damages as to
make it untenable without the fault or negligence of LESSEE, the area so damage shall in
the case of partial damage to the leased premises be restored by LESSOR. All damages
due to the fault or negligence of the LESSEE shall be for the their account.

21. NON-WAIVER- The failure of the parties to insist upon a strict

performance of any of the terms, conditions and covenants hereof shall not be deemed a
relinquishment or waiver of any rights of remedy may have nor shall it be construed as a
waiver of any subsequent breach or default of the terms and conditions, covenants which
shall continue to be in full force or effects. No waiver by the parties any of their rights
under this Contract of lease shall be deemed to have been made unless expressed in
writing and signed by both of them;

22. PENAL PROVISION-The parties agree that all the covenants and agreements
herein contained shall be deemed conditions as well as covenants and that if default or
breach be made of any such covenants and conditions , then his Lease may be terminated
and cancelled and the guilty party shall be liable for any and all damages actual and
consequential resulting from such default and termination : PROVIDED, however that no
default shall be declared under this Lease unless LESSEE or LESSOR has been given
thirty (30) days written notice to cure the default.

All actions under this Contract of lease shall be instituted at the proper court of
the City of Quezon City, Philippines.

23. COMPLETE AGREEMENT - this Contract as well as the

Supplemental Rules and Regulations constitute and embody the entire and complete
agreements between the parties and no other terms and conditions, verbal or otherwise,
not herein expressly contained, shall effect, change, modify or extend this Contract or be
added to or in any manner alter the provisions herein agreed upon, unless such change,
modification, extension, addition or alteration be in writing signed by both parties and
notarized.
IN WITNESS WHEREOF, the parties hereto have signed this of ________ at
_________________ Philippines.

______________________ __________________________
Charles Oliver K. Genato Nenita P. Rosas

SIGNED IN THE PRESENCE OF

_____________________ ____________________

ACKNOWLEDGEMENT

REPUBLIC OF THE PHILIPPINES)

CITY OF ) S.S.

BEFORE ME, this ___day of ______________, 2020 at ____________________

_______________________, personally appeared Charles Oliver K. Genato with
Driver’s License No. N02-05-004203 with expiration date on April 30, 2022 at Quezon
City and Nenita P. Rosas with Comm Tax Cert No. 27942227 issued on Jan 2020, 2020
at City of Manila known to me and to me known to be the same persons who executed
the foregoing contract of lease and they acknowledge to me that the same is their free act
and voluntary deed.

WITH MY HAND AND NOTARIAL SEAL affixed hereunto at the place and on
the date, month, year above written.

Doc. No.___________;
Page No.___________;
Book No.__________;
Series of