ANNEX A - SCHEDULE OF PAYMENT

Escalation No. of Less: 5% Amount Payable, Net of

Year Payment Date Monthly Rent Total Rent Add: 12% Vat REMARKS
Rate Months Withholding tax 5% WHT + 12% VAT
1 Date of Signing 22,000.00 12 264,000.00 31,680.00 13,200.00 282,480.00 Advance Payment is applied on the last 3 months of the contract
2 Feb 15 2023 22,000.00 12 264,000.00 31,680.00 13,200.00 282,480.00
3 Feb 15 2024 4.5% 22,990.00 12 275,880.00 33,105.60 13,794.00 295,191.60 Escalation starts on Year 3 as per contract
4 Feb 15 2025 4.5% 24,024.55 12 288,294.60 34,595.35 14,414.73 308,475.22
5 Feb 15 2026 4.5% 25,105.65 12 301,267.86 36,152.14 15,063.39 322,356.61
6 Feb 15 2027 4.5% 26,235.41 12 314,824.91 37,778.99 15,741.25 336,862.65
7 Feb 15 2028 4.5% 27,416.00 12 328,992.03 39,479.04 16,449.60 352,021.47
8 Feb 15 2029 4.5% 28,649.72 12 343,796.67 41,255.60 17,189.83 367,862.44
9 Feb 15 2030 4.5% 29,938.96 12 359,267.52 43,112.10 17,963.38 384,416.25
10 Feb 15 2031 4.5% 31,286.21 12 375,434.56 45,052.15 18,771.73 401,714.98 Contract is only for 10 years
Less: 60,000.00 Advance Payment
341,714.98