CONTRACT OF LAND LEASE

KNOW ALL MEN BY THESE PRESENTS

This Contract of Lease signed and executed this __________________ in the City of
____________________ Philippines by and between;

____________________, the authorized representative of _______________, of legal age, Filipino and a

resident of _________________________, whose authority is evidenced by the attached Special Power
of Attorney, referred to as the LESSOR;

- and -

_____________________________, President of __________________________., also of legal age,

Filipino, with office address at ___________________________________________ Philippines ,
hereinafter referred to as the LESSEE.

WITNESSETH: That

WHEREAS, the LESSOR is the owner of a certain parcel of land situated at
________________________________________ , Philippines, more particularly described as follows:
(Technical Description of Property)

WHEREAS, the LESSOR desires to lease the afore-described property in favor of the LESSEE and the
LESSEE accepts the lease subject to the terms and conditions herein set forth.

WHEREAS, the LESSEE desire to lease the above described premises and the LESSOR is willing to
lease the same to the LESSEE subject to the following terms and conditions below hereinafter specified;

NOW, THEREFORE, for and in consideration of the terms and conditions mutually agreed upon by the
parties, the LESSOR hereby lease unto the LESSEE, his heirs, successors and assigns, the above-
described parcel of land subject to the following terms and conditions including the payment of monthly
rental of Php _____________________ (___________________ Pesos), payable monthly upon
execution of this contract, the LESSOR does let and lease unto LESSEE, the LEASED PREMISES under
the following conditions:

1. LEASE PERIOD – This lease shall be for 36 months, to commence after 60 Days of site
preparation starting on _________________. It shall be renewable at the option and mutual
agreement of both LESSOR and LESSEE, and in writing, at least 30 days prior to expiry to
the expiry of the lease period. An annual negotiation for every year increase shall be held
within the lease period with the decision in mutual agreement of both LESSOR and LESSEE;

SECURITY DEPOSIT AND ADVANCE – Upon signing of this contract, the LESSEE shall pay the
LESSOR the amount of Php 30,000.00 (Thirty Thousand Pesos) representing ONE (1) month
advance and ONE (1) month deposit. The 1 month security deposit is subject for the deduction
from the damages incurred and the balance if any, shall be refunded to the LESSEE within thirty
(30) days from the date of termination or upon presentation of proof of settlement of all accounts
herein. It is further understood that the deposit shall in no case be applied as rental and is non-
interest bearing. The 1 Month security deposit is non-refundable if the LESSEE did not finish the
lease period agreed upon in the contract of lease;

2. WATER, ELECTRICITY, and UTILITIES – The premises have no supply of water, electricity
and other utilities installed.

3. LOT PURPOSES – The Leased Premises shall be used for barracks & parking purposes only
and no other purposes without the written consent from the LESSOR.

4. FIXTURE / FURNISHING – The LEASED PREMISES is a vacant parcel of land only.

5. IMPROVEMENTS – The LESSEE shall not make any alteration, changes or improvements in
the LEASED PREMISES without the consent of the LESSOR, however any permitted
alteration or improvement introduced or made by the LESSEE wherein removal of the same
shall destroy the LEASED PREMISES upon termination of this contract, shall automatically
insure to the benefit of the said premises and become property of the LESSOR without any
obligation on the latter’s part to pay or refund its cost or value to the LESSEEE;

6. SANITATION – The LESSEE shall always keep the premises clean and in sanitary condition;

7. FIRE HAZARD AND OBNOXIOUS SUBSTANCES – The LESSEE shall not keep, deposit or
store in the premises any obnoxious substances or inflammable materials or substances that
may constitute a fire hazard;

8. TAXES AND INSURANCE – Real Estate Tax, Government Assessment and fire insurance
charges shall be for the LESSOR’S account;

9. THIRD PARTY LIABILITY – The LESSEE, during his occupancy of the LEASED PREMISES
shall hold the LESSOR free and harmless from any damaged, liability or responsibility to any
or property arising out of or as a consequence of the used of the LEASED PREMISES by the
LESSEE. The LESSOR has no liability in case of damage or liability caused by fortuitous
events or acts of God, such as typhoon, earthquakes, explosion, flood and the like;

10. RULES AND REGULATIONS – The LESSEE of the LEASED PREMISES agree to abide the
existing rules and regulations promulgated by the Association as well as those promulgated
during the period of this Contract of Lease. The LESSEE of the LEASED PREMISES shall
only request consent and required documents from the LESSOR for any business and
government permitting purposes. There shall be no instance that the LESSOR shall process
permitting for the LESSEE;

11. INSPECTION OF THE PREMISES – The LESSEE shall maintain the premises in good and
tenantable condition and for such purpose, the LESSOR reserves the right to at reasonable
time, on appointment with, and at convenience of the LESSEE, enter and inspect the
premises. The LESSEE agrees to cooperate with the LESSOR in keeping the said premises
in good and tenantable condition;

12. SUB-LEASE AND ASSIGNMENT OF RIGHTS – The LESSEE is leasing the LEASED
PREMISES for the use of TAF Transport Services / Top Autonomous Forwarder Inc. The
LESSEE shall not assign, sell or transfer his lease or rights to the LEASED PREMISES or
any part hereof without the prior written consent of the LESSOR;

13. FORTUITOUS EVENTS – If for reason beyond control of the LESSEE and agreed upon by
the LESSOR, fortuitous events, fire, acts of God such as typhoon, earthquakes and floods,
etc. the leased premises are damaged to the extent that it is totally destroyed and/or
untenantable for a period exceeding two (2) weeks, the LESSEE shall have the option to
terminate this Contract of ease and the LESSOR shall refund to the LESSEE any and all
unused rentals within thirty (30) days from the date of termination, without penalties and/or
changes or deposit subject to clause;

14. RENEWAL OR TERMINATION – The LESSEE shall give a written notice to the LESSOR of
its intention to renew or terminate the Contract of Lease by giving thirty (30) days notice prior
to the expired date of lease; otherwise the LESSOR is automatically authorized to third
parties and show the land to prospective clients at reasonably pre-arranged times within the
least thirty (30) days of the Contract of lease;

15. RETURN OF THE PREMISES – The LESSEE acknowledges the receipt of possession of the
LEASE PREMISES in good satisfactory condition for the uses and purposes for which the
same is intended, and agrees that upon expiration of this contract or earlier termination
thereof, quietly and peacefully surrender unto the LESSOR the possession of the said
premises in the same and satisfactorily condition now taken, reasonable wear and tear, riot,
war and other forces of nature beyond control excepted;
 16. DEFAULT PAYMENT - In case of default by the LESSEE in the payment of the rent, such as
when the cash in not given at the right period of payment agreed upon, the deposited amount
by the LESSEE is not received in the LESSOR’S account, or the checks are dishonored. The
LESSOR at its option may terminate this contract and eject the LESSEE. The LESSOR has
the right to padlock the premises or eject the LESSEE when the LESSEE is in default of
payment for One (1) month and may forfeit whatever rental deposit or advances have been
given by the LESSEE.

IN WITNESS WHEREOF, we have hereunto set our hands this ____________________ in the City of
_______________, Philippines.

LESSOR: ___________________ LESSEE: ____________________

CTC No. ____________________ Passport No. _________________

Issued on ___________________ Issued on ____________________

At _________________________ At __________________________

SIGNED IN THE PRESENCE OF:

______________________________ _________________________________

ACKNOWLEDGEMENT

REPUBLIC OF THE PHILIPPINES)

CITY OF ____________________) S. S.

BEFORE ME, a Notary Public for and in ____________________ City, personally came and
appeared, Principal with ____________ No __________ issued on __________, issued at __________
known to me and to me known to be the same persons who executed the foregoing instrument and that
they acknowledge to me that the same is their free and voluntary act and deed.

IN WITNESS WHEREOFF, I have hereunto set my hand and seal on the date and place first
above written.

Doc. No. _______

Page No. _______
Book No. _______
Series of 2022