CONTRACT OF LEASE

This CONTRACT OF LEASE made and executed by and between:

ARIEL MANANQUIL, of legal age, Filipino, married to Diana Mananquil, and with address at 2/F
Mabini Street, Barangay 5, Tanjay City, hereinafter know as the LESSOR.
and

TEAM KANUNAY TRADERS, INC., (by: Erica Encabo) a corporation duly organized and existing under
Philippine laws, with address at 40 Don Asterio Street, Don Enrique Heights, Quezon City, herein
represented by Erica P. Encabo, hereinafter referred to as the LESSEE.

WITNESSETH:

WHEREAS, the LESSOR is the absolute and sole owner of that commercial space located at
Barangay 5, Mabini Street, Tanjay City, with an area of 100 square meters, more or less,
specifically the Ground Floor of Lessor’s _________ Building (the “Leased Premises”) that the
LESSEE wishes to lease.

NOW THEREFORE, for and in consideration of the above premises and agreements between
the parties herein, the LESSOR hereby leases unto the LESSEE the above-mentioned space subject to
the following terms and conditions:

a. That the period of this contract shall be for five (5) years commencing on August 18,
2016 and ending on August 17, 2021. In any case, LESSEE shall be granted thirty (30) days’
construction period, or from July 18, 2016 to August 17, 2016, rental-free prior to the
commencement of the contract.

b. That the rental rate starting for the entire duration of this contract shall be PESOS
________________________________ ONLY (P _________.00) per month, inclusive of
government taxes. The LESSOR shall issue an Official or Acknowledgment Receipt upon payment
to acknowledge such payment;

c. Upon turn-over of the Leased Premises, LESSEE shall pay advance rental equivalent to
______________ Pesos (P _____.00), applicable to the first to third months of this contract, and
post a security deposit equivalent to _________________ Pesos (P _______.00) returnable
within fifteen (15) days from the termination/expiration of this contract;

d. The LESSOR shall complete all his construction works (comfort room, gate/division
dividing the first floor and the access to the second floor, welding/closure of access between
ground floor and warehouse and vice versa, etc.) inside the Leased Premises within a maximum
period of two weeks from the signing of this contract. Upon the completion of said construction
works, the Leased Premises will immediately be turned over to the LESSEE;

e. That the LESSEE may put, construct, and install leasehold improvements on the Leased
Premises as may be required by its business of trading in liquefied petroleum gas (LPG) and,
upon termination of the lease, all permanent improvements introduced into the leased space,
shall remain the property of the LESSEE upon expiration/termination of this LEASE;
f. That, the LESSEE may assign this lease and/or sublease the Leased Premises to its
affiliate or related party/ies, and the LESSOR shall refrain from leasing its commercial spaces to
any person/entity engaged in competition with LESSEE's or its affiliates’ line of business except
with prior written consent of LESSEE.

g. That the SUB-LESSEE shall keep the property clean and sanitary at all times.

h. That the LESSEE shall have the right to terminate this contract for any cause upon fifteen
(30) days prior written notice to the LESSOR.

i. That all utilities such as electricity, water, communications to be consumed in the

Leased Premises shall be for the account of the LESSEE. The LESSOR shall install or cause the
installation of a separate sub-meter and breaker to measure LESSEE’s consumption of utilities
within the Leased Premises;

j. Minor repairs shall be for the account of the LESSEE, while major repairs shall be for the
account of the LESSOR;

k. In the event that any party is constrained to file suit for the interpretation or
enforcement of the terms of this Contract, or otherwise arising out of or incidental of this
Contract, the parties agree that the exclusive venue for any such litigation shall be the proper
courts of Makati City, to the exclusion of other courts.

IN WITNESS WHEREOF, the parties have hereunto set their hand this ____ day of
__________________, in ______________________________.

ARIEL MANANQUIL TEAM KANUNAY TRADERS, INC. / ERICA P. ENCABO

Lessee

DIANA MANANQUIL
Lessor

SIGNED IN THE PRESENCE OF:

_________________________________ _________________________________
 ACKNOWLEDGMENT

Republic of the Philippines )

) SS.

BEFORE ME, on ______________, 2016, personally appeared:

Name CEI
Ariel Mananquil
Erica Encabo DL# N25-97-031995 until 2017

known to me to be the same persons who executed the foregoing instrument, consisting of 3 pages, and who
acknowledged to me that the same is their free and voluntary act and deed and/or that of the party/ies
represented.

WITNESSETH MY HAND AND SEAL on the date and in the place first above-stated.

Doc. No. _______;

Page No. _______;
Book No. _______;
Series of 2016.