CONTRACT OF LEASE

KNOW ALL MEN BY THESE PRESENTS:

This CONTRACT OF LEASE is made and entered into by and between;

RODOLFO C. AQUINO, Filipino, of legal age and a resident of Aquino

Compound, J.P Laurel Cabaguo, Avenue Davao City, Philippines, herein
duly represented by his Attorney-in-fact MIGUEL EFREN R. AQUINO,
Filipino, of legal age, and a resdent of Plaza Roman, J.P Cabaguio Avenue,
Agdao, Davao Cty, hereinafter referred to as the LESSOR;
-and-
DELSA D. BATAGA, of legal age, Filipino, married and a resident of Blk.
56, Lot 27, Contry Homes, Cabantian, Davao City, hereinafter called the
LESSEE;

WITNESSETH;

WHEREAS, the LESSOR is the absolute owner of a parcel of land located

at J.P Cabaguio Avenue, Davao City with an area of FOUR THOUSAND FVE
HUNDRED SIX (4,506) square meters, more or less ad covered by Transfer
Certificate of Title No. T-148954of the Registry of Deeds for Davao City;

WHEREAS, the LESSOR is the owner of a one-storey commercial building

with an area of ONE HUNDRED FIFTY (150) Square meters, more or less
which is the subject of this contract of lease;

NOW THEREFORE, for and in consideration of the foregoing premises

and the mutual covenants and obligations hereinafter contained and to be
performed, the parties agree and bind themselves to wit;

1. LEASED PREMISES. The LESSOR hereby leases one-storey

commercial building with an area of ONE HUNDRED FIFTY (150)
Square meters;

2. TERM. This contract shall have an initial term of ONE (1) year from
October 14, 2022 to October 14, 2023 and renewable for another
one (1) year upon mutual agreement of both parties. In case of
renewal, the LESSEE shall notify in writing the LESSOR at least Sixty
(60) days prior to the expiration of the initial term of the lease
contact. Failure to give notice within the said period shall mean the
non-renewal of the contract unless otherwise allowed by the LESSOR.
 3. RENTAL. In consideration of the Contract of Lease, the LESSEE
agrees to pay he LESSOR a basic monthly rental TWENTY FIVE
THOUSAND PESOS (P25, 000.00). The VAT and the
WITHOLDING TAX shall be for the account of the LESSEE and shall
remit the same to the LESSOR together with the monthly rental.
Rental payments are payable in advance the first thirteen(13) day of
the month and shall cover the first day up to the last day of the
month.

PERIOD MONTHLY 12% VAT 5% TOTAL

RATE WITHHOLDING
TAX
ONE YEAR TERM P25, 000. 00 P3,000 P1,250.00 P29, 250
OR TWELVE
MONTHS

The LESSEE shall issue postdated checks to be given to the LESSOR upon
the execution of this contract in the amount representing the monthly
rentals, corresponding value added tax and the net of the five percent
(5%0 withholding tax to cover the full rental payments