LEASE AGREEMENT

KNOW ALL MEN BY THESE PRESENTS:

This Lease Agreement made and entered into by and between:

JEFFREY A. PARALLAG, of legal age, Filipino, single, and a resident of Quinarayan,

Narvacan, Ilocos Sur, Philippines, (hereinafter referred to as the "LESSOR")

and

SPECIALIZED PRODUCTS & SERVICES, INC, a corporation duly organized and

existing under and by virtue of the laws of the Republic of the Philippines with principal place of
business at 3F ORCEL II BLDG, 1611 Quezon Avenue, Quezon City, (hereinafter referred to as
the "LESSEE")

WITNESSETH That:

WHEREAS, the LESSOR is the lessor of a certain one (1) unit motor vehicle, more
particularly described as follows and hereafter referred to as "the subject vehicle":

Make: Hyundai Motor No.: 1336-00000453816

Series: H-100 2.6 GL 5M Chassis No.: KMFZBX7BAHU427031
Type of Body: Shuttle Van CR No.: 306640014

WHEREAS, the Lessor desires to lease the subject vehicle in favor of the Lessee and the
Lessee accepts the lease subject to the terms and conditions herein set forth.

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 motor vehicle, subject to the following terms and conditions, to wit:

1. Lessor's Warranty: The Lessor represents that to the best of his knowledge and belief
that the above-described motor vehicle is in good and safe condition and free of any
known faults or defects which would affect its safe operation under normal use;

2. Lease Period: The Lessor agrees to lease the above-described motor vehicle to the
Lessee for a period of THIRTEEN (13) DAYS beginning on JANUARY 10, 2023 and
ending on JANUARY 22, 2023;

3. Restrictions on Use: The Lessee agrees (a) that the subject vehicle shall not be used to
carry passengers or property for hire (UV Express); (b) that the subject vehicle shall not
be used to carry passengers other than in the interior or cab of the vehicle; (c) that the
subject vehicle shall not be used to carry passengers in excess of the capacity thereof (up
to 15 passengers); (d) not to use the subject vehicle to push, propel or tow another
vehicle, trailer or any other thing without the written permission of the Lessor; (e) not to
use the subject vehicle for any race or competition; (f) not to use the subject vehicle for
any illegal purpose; (g) not to operate the subject vehicle in a negligent manner; (h) not to
permit the subject vehicle to be operated by any other person without the written
permission of the Lessor; and (i) not to carry passengers, property or materials in excess
of the rated weight carrying capacity of the vehicle (maximum capacity: 1,215 kgs.);

4. Indemnity: The Lessee hereby agrees that he shall fully indemnify the Lessor for any
and all loss of or damage to the vehicle or its equipment or accessories during the term of
this Lease Agreement whether caused by collision, fire, flood, vandalism, theft or any
 other cause, except that which shall be determined to be caused by a fault or defect of the
vehicle or equipment;

5. Rental Rate: The Lessee hereby agrees to pay the Lessor at the rate of TWO
THOUSAND TWO HUNDRED (P 2,200.00) PESOS per day for the use of subject
vehicle. All fuel used and expressway toll fees shall be paid for by the Lessee;

6. Maintenance/Repairs: The Lessor agrees to do necessary repairs and maintenance to

keep the subject vehicle suitable for the use to which it has been devoted which
particularly includes the following, to wit: change oil, tires, alternator, air conditioning
system, defective electricals, starter, battery. The Lessor is not liable for repairs for
damages or deteriorations deliberately or neglectfully caused by the Lessee or its
representatives.

IN WITNESS WHEREOF, we have hereunto set our hands, this _____________ at

_____________, Philippines.

___________________________________
___________________________________
LESSOR LESSEE

SIGNED IN THE PRESENCE OF:

________________________________ ________________________________

REPUBLIC OF THE PHILIPPINES)

PROVINCE OF ILOCOS SUR )S.S.
MUNICIPALITY OF NARVACAN)
x-----------------------------------------x

ACKNOWLEDGMENT

BEFORE ME, a Notary Public for and in the Municipality of Narvacan, Ilocos Sur
personally appeared Mary Jane A. Parallag and ______________________________________,
both personally known to me and who represented to me that their respective signatures on the
foregoing instrument were voluntarily affixed by them for the purposes stated in the instrument and
who declared that they have executed the foregoing instrument as their free and voluntary act and
deed.

This Instrument consists of only two (2) page/s, including this page in which this
acknowledgment is written, duly signed by the parties and their instrumental witnesses on each
and every page hereof.

WITNESS MY HAND AND SEAL this ____________________________________ at

________________________________, Philippines.

NOTARY PUBLIC