17 March 2021

MR. EDWARD LEGASPI

(ADDRESS)

Re: Your Letter dated 04 March 2021

Contract of Lease dated 01 March 2019

Dear Mr. Legaspi,

I write in connection with your letter dated 04 March 2021, a copy of which we received on 05
March 2021.

I will no longer dwell on the issues you raised in your letter. Rather, I would prefer to focus on
your acknowledgment that “rescission of the contract is the best option to avoid further
litigation”.

Insofar as the improvements placed on the Leased Premises, your comments that (a) I may
now remove these improvements “even though the principal thing suffers damage but without
causing any more impairment xxx than is necessary”; and (b) I will have “until March 30, to
remove all (my) things as well as improvements without further impairing (your) property from
said removal” are noted.

In light of our common position to mutually rescind the contract, I shall turn over the Leased
Premises to you at the close of business day 30 March 2021. On the other hand, on the said
date, kindly return all post-dated checks issued to you for the period April 2021 to February
2022, copy of acknowledgement receipt is attached. As well as a check for Pesos: Ninety
Thousand (Php 90,000.00), Philippine currency, representing the two months’ deposit.

MICHAEL LEE