CONTRACT OF LEASE

KNOW ALL MEN BY THESE PRESENTS:

This CONTRACT OF LEASE made and entered into by and between:

_____________________________, a corporation duly organized and existing under and by

virtue of the laws of the Philippines, with principal offices at___________________________,
represented herein by one of its ________________________and hereinafter referred to as the
LESSOR;

-and-

____________________________, a ___________________duly organized and existing under

and by virtue of the laws of the Philippines with principal address at _______________________
Philippines, represented herein by the __________________, ____________________and
hereinafter referred to as the LESSEE;

WITNESSETH:

WHEREAS, the above named Lessor is the owner of a parcel of real property with commercial
building located at H. Abellana Street, Canduman, Mandaue City;

NOW, THEREFORE, for and in consideration of the above premises and of the mutual promises,
covenants and other stipulations herein contained, the parties hereto, by these presents, have agreed
on the following terms and conditions, to wit:

1. The term of the lease shall be for a period of _____ ( )______, commencing from
_____________ and expiring on _________________ and renewable upon agreement of both
parties, provided that the written notice of renewal by the lessee be received by the LESSOR two
(2) months prior to the expiration of the lease.

2. The monthly rental shall be Pesos: Ten Thousand Pesos Only (₱10,000.00), net of any
government tax, to be paid by the LESSEE at the leased premises herein above-mentioned, on or
before the thirtieth (30th) day of each month. It is expressly agreed and understood that the payment
of rental herein stipulated shall be made without necessity of express demand and without delay
on any ground whatsoever;

3. That the LESSEE is expressly prohibited to sublease the leased premises to anyone without the
written consent of the LESSOR;

4. That the LESSEE hereby expressly agrees and warrants that the leased premises shall be used
by them exclusively for the following purpose, to wit: exclusively for store use only
(______________________); and the LESSEE is hereby expressly prohibited from using the said
premises for any other purposes or business without the prior written consent of the LESSOR;

5. That either parties can pre-terminate the contract of lease provided that they must give prior
written notice to terminate the same at least two (2) months before the date of the termination of
this lease;

6. That the LESSEE hereby expressly acknowledges that the leased premise is in good and
tenantable condition and agrees to keep the same in such good and tenantable condition until the
expiration of the lease contract. However, the LESSEE shall not be liable to the LESSOR for any
damage to the property caused by fortuitous event or an act of God like storm, flood, earthquake
and the like; and the wear and tear of the property by normal usage;
7. That the expenses for all such alteration, additions or removals upon the leased premises made
by the LESSEE, with the consent of the LESSOR, shall solely be for the account of the LESSEE
and will not in any case be treated as reimbursable by the LESSOR. It is expressly agreed and
understood, however, all improvements, installation, or alteration of whatsoever nature made
thereof shall be removed upon termination of this contract;

8. The LESSOR shall bill the LESSEE on power and water consumption monthly (computed per
usage found on the power/water meters). The cut-off period shall be agreed upon. The LESSOR
reserves the right to disconnect power and water supply if remain unpaid within one (1) week after
transmittal of the water/power bill;

9. That the LESSEE shall provide at his own expenses receptacles that may hold and contain waste
matter, garbage and refuse, and shall deposit them within its own premises.

10. All renovation/repair works incurred by the LESSEE during the stay in the leased premises
including painting, electrical and plumbing works shall be for the exclusive account of the
LESSEE. Moreover, the LESSEE shall at its own expenses keep the premises in a clean and
sanitary condition free from noxious odors, disturbing noises, or other nuisances.

11. The LESSEE shall not claim any loss or damage on account of any repair work that may need
to be done in or about the building or the premises by the LESSOR and which may in any way
interfere with or interrupt the LESSEE use of the leased premises.

12. The LESSEE shall be responsible for the compliance of any government regulation with
respect to their business operation and for payment of business taxes, license, and fees. The
LESSEE shall hold the LESSOR free and harmless from any government impositions, suits and
the like related to the operation of their business.

13. This Contract of Lease renders void any and all agreements and understanding, oral or written
previously entered between the parties covering the property herein leased, and this agreement
may not hereinafter be modified or altered except by instrument in writing duly signed by the
parties hereto.

IN WITNESS WHEREOF, the parties have hereunto set their hands this
_________________________ at Mandaue City, Philippines.

______________________ ___________________________
______________________ LESSEE
LESSOR
By: By:

____________________ ___________________________
____________________ ___________________

____________________ ___________________________

SIGNED IN THE PRESENCE OF:

1.___________________________ AND 2. __________________________

REPUBLIC OF THE PHILIPPINES )
CITY OF MANDAUE )
xx------------------------------------------/

ACKNOWLEDGMENT

BEFORE ME, this ____ day of __________ 2021 at Mandaue City, personally appeared
these above-named persons with their Identification Cards, known to me to be the same persons
who executed the foregoing instrument and that they acknowledged to me the same is their free
act and deed.

This instrument, consisting of three (3) 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, Today.

Doc. No. _____

Page No. _____
Book No. _____
Series of 2021