CONTRACT OF LEASE

KNOW ALL MEN BY THESE PRESENTS:

This Contract of Lease made and executed by and between:

ARNOLD S. CASTRO, of legal age, married, Filipino and a resident of

Block 4, Lot 3, San Francisco St., Golden Glow Village, Pueblo de Oro, Cagayan
de Oro City, hereinafter known as the LESSOR;

- AND -

STEVEN ALAN YOUNG, of legal age, American Citizen, single and a

resident of Box 1, Upper Stargate, Macasandig, Cagayan de Oro City,
hereinafter known as the LESSEE;

WITNESSETH:

WHEREAS, the LESSOR is the owner of a residential property situated at

of Block 14, Lot 4, Bluebird St., Morning Mist Village, Pueblo de Oro, Cagayan de
Oro City, available for rent to interested parties;

WHEREAS, the LESSEE has thoroughly inspected the above described

residential property and wishes/offers to lease the said property from the
LESSOR for a monthly rental of THIRTY THOUSAND PESOS (₱30,000.00) for a
period of one (1) year effective July 12, 2020, and expiring on July 12, 2021;

WHEREFORE, premises considered the parties hereto agreed to enter

into a lease agreement under the following terms and conditions:

1. That the terms of the lease shall be good for one (1) year upon the
execution of this contract, effective July 12, 2020, and expiring on July 12, 2021.
This agreement, however, maybe extended at the option and discretion of the
LESSOR and the terms and conditions agreeable by the LESSEE;

2. That all rental payments that is payable to the LESSOR will be paid
by the LESSEE through bank account payment basis. The LESSEE will deposit
all its rental payment to the bank account of the LESSOR specifically at
Chinabank, Carmen Branch, Cagayan de Oro City under Account Name:
ARNOLD S. CASTRO and Account No. 2610456314;

3. That the LESSEE shall pay the LESSOR in the amount of ONE
HUNDRED EIGHTY THOUSAND PESOS (₱180,000.00), Philippine Currency,
as six (6) months advance. The six (6) months advances shall be treated as
consumable against the rental payments for the months of July 12, 2020 to
January 12, 2020 and the other remaining six (6) months rental will be payable
on January 12, 2021;

4. That the LESSEE shall inform the LESSOR in writing, thirty (30)
days before the expiration of the period of the lease either to vacate the premises
or to renew the contract of lease for another term;

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 5. That the parties agreed that no pre-termination of this lease
agreement shall be allowed and that the LESSEE shall pay the agreed rental
amount regardless of whether he will use the property or not;

6. That the LESSOR or its duly authorized representative shall have

the right to inspect the leased premises at any reasonable hours of the day with
prior arrangement with the LESSEE;

7. That the LESSEE is hereby expressly PROHIBITED to sublease

the leased premises or any portion thereof to any third party during the existence
of this Contract of Lease. The leased premises are agreed to be used only as a
residential and for no other purposes, commercial or otherwise;

8. That the LESSEE shall comply with all sanitary rules and safety
regulations of the city government and those which may be promulgated from
time to time by the LESSOR. The LESSEE shall keep and maintain the leased
premises in clean and sanitary condition pursuant to the local government
regulation;

9. That the LESSOR shall not be liable for the presence of bugs,
vermin, ants, termites or insects, if any, in the leased premises;

10. That the LESSEE shall be responsible for any claim from third
parties for any damages resulting to the use of the subject property being leased;

11. That payments of the monthly consumption of light and water bill
shall be for the sole account and obligation of the LESSEE;

12. That major and minor repairs and improvements shall be with the
approval and consent of the LESSOR. This lease agreement is on an as-is
where is basis. The LESSEE may undertake major renovation at its own
expense. Permanent improvement, such as entrance doors and others, which
cannot be removed without causing damage to the leased premises, shall belong
to the LESSOR at the end of the lease period;

13. The LESSEE shall not undertake any illegal activities within the
leased premises;

14. That this contract may be renewed for a like period upon notification
and mutual agreement of the parties, thirty (30) days before termination of this
contract;

15. That the LESSEE hereby agrees to vacate the entire premises and
the aforesaid improvements at any time before the expiration of the term of lease
upon failure to pay one monthly rental as required;

16. That in case of any suit or legal actions from this contract, the action
shall be filed in the proper courts of Cagayan de Oro City to the exclusion of all
other courts and venues;

IN WITNESS WHEREOF, we the PARTIES have here unto set our hands
this ________ day of _____________ at Cagayan de Oro City, Philippines.

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 ARNOLD S. CASTRO STEVEN ALAN YOUNG
LESSOR LESSEE

Philhealth I.D. No. 15-025025573-1 Passport I.D. No. 542642895

WITNESSES:

1. ____________________ 2. ___________________

ACKNOWLEDGMENT

REPUBLIC OF THE PHILIPPINE )

CAGAYAN DE ORO CITY )S.S.

BEFORE ME, a notary public for and in Cagayan de Oro City, on this ___
day of ________________________, personally appeared, the foregoing
persons, known to me to be the same persons who executed the foregoing
instrument, and they acknowledged to me that the same is their true and
voluntary act and deed.

WITNESS MY HAND AND SEAL.

ATTY. MARIO T. JUNI

Notary Public
until December 31, 2020
PTR No. 4537258-A, 01-04-2020
Doc. No.: IBP No. CY 2020, 01-06-2020
Page No.: Commission No. 2019-74 (01-11-19)
Book No.: 215 Attorney's Roll No. 35240
Series of 2020. MCLE Compliance No. VII-0000818 (09-04-2019)
Cagayan de Oro City