CONTRACT OF LEASE

KNOW ALL MEN BY THESE PRESENTS:

This Contract of Lease made and entered into this _________________________, by and
between:

ERIC R. BUHAIN, of legal age, and a resident of Lot 1 Blk. 35 Bautista St.
AFPOVAI Western Bicutan, Taguig City, herein referred to as the “LESSOR”

-and-

KOOP KING MULTIPURPOSE COOPERATIVE, a Corporation with principal

address at N5 Koop Bldg., East Service Road, Western Bicutan, Taguig City, represented
herein by its President, MS. SHARON BUHAYO, hereinafter referred to as the LESSEE;

WITNESSETH: THAT

WHEREAS, the LESSOR is the owner of Campeon Commercial Leasing, a single

proprietorship located at No 26 Block 69 Bayani Rd. AFPOVAI Western Bicutan, Taguig
City, to wit:
SQM 25.00 sqm Floor Area Unit 45

herein referred to as the “LEASED PREMISES”.

WHEREAS, the LESSEE represents and warrants that it has legal capacity to enter
into this Contract of Lease and that the representative signing herein is fully authorized;

WHEREAS, the LESSEE desires to lease the abovementioned premises, and the
LESSOR is willing to lease the same unto the LESSEE subject to the terms and conditions
hereinafter set forth;

NOW, THEREFORE, for and in consideration of the above premises and the mutual
covenants herein contained, the LESSOR has let and by these presents does hereby let and
lease unto the LESSEE the LEASED PREMISES and the LESSEE hereby accepts the same
subject to the following terms and conditions;

1. TERM OF LEASE: The term of the lease shall be for a period of One (1) year,
commencing on __________, 2023 up to _________,2024. The LESSEE may opt to renew
for another term with 10% escalation and with written notice to LESSOR sixty (60) days
before end of lease term and upon agreement of both parties.

2. RENTALS: The parties herein agree that the monthly rental on the LEASED
PREMISES shall be TWENTY ONE THOUSAND FOUR HUNDRED PESOS ONLY
(21,400.00) per month exclusive of withholding tax and inclusive of 12% VAT and
documentary stamp tax, which is for Lessee’s account. 5 Storey Commercial Building
 dues for the unit, shall be for the account of the LESSEE. Upon signing of this Contract,
the Lessee shall give to the LESSOR twelve (12) post-dated checks amounting to be
TWENTY ONE THOUSAND FOUR HUNDRED PESOS ONLY (21,400.00) dated
________,2023,_______,2023,_______,2023,_______,2023,_______,2023,_______,2023,
______,2023,________,2024,________,2024,________,2024,_____,2024,_______,2024
representing the one year of the rental period. All post dated checks for the second 2 nd
year must be given within the first five (5) days of the second year rental period.

3. SECURITY DEPOSIT: The sum of FORTY THOUSAND PESOS ONLY ( 40,000.00 ) as

two (2) months security deposit for the LEASED PREMISES shall remain intact with the
LESSOR upon signing of this guarantee for the faithful performance by the LESSEE of its
obligations under this Contract to answer for any unpaid bills for water, electricity,
telephone, or other charges on or damages to the LEASED PREMISES, except ordinary
wear and tear, and shall be refunded to the LESSEE by the LESSOR within NINETY (90)
days after termination of this Contract to give allowance for the submission of billing
charges from repair contractors and various utilities.

3.1 The said deposit shall not, during the lease period or any extension or any
extension or renewal thereof, be used to offset rentals or other payments due to
the LESSOR from the LESSEE.

3.2 The LESSEE shall at all times maintain the deposit at an amount equivalent to
two (2) monthly rentals. Accordingly, if during the lease period or any
extension or renewal thereof, the deposit is reduced either as a result of
deductions for any damage to the LEASED PREMISES or, due to rental
increase and provided herein, the LESSEE shall, within five (5) working days
from demand, remit the amount necessary to keep the value of the deposit at
the current level of two (2) months rental.

4. APPLICATION OF PAYMENTS - It is hereby agreed that the monthly rentals shall

have priority over utilities and other charges in the application of payments made by the
LESSEE.

5. WATER, ELECTRIC CURRENT AND OTHER UTILITIES - All expenses water,

electric current, telecommunications, deposit, and other services shall be for the account
of the LESSEE.

6. FIXED IMPROVEMENT - The LESSEE shall not make any major structural changes,
alterations, or any improvements in the LEASED PREMISES without prior written
consent of the LESSOR. However, any major changes, alterations or improvements
made or introduced by the LESSEE in the LEASED PREMISES with the written consent
of the LESSOR which are permanent in character, or which cannot be removed without
causing damage to the LEASED PREMISES, shall upon termination of the Contract,
automatically inure to the benefit of the LEASED PREMISES and shall become the
property of the LESSOR.

6.1 DESIGNS - The LESSEE shall submit the designs and layout of any changes,
 alterations or improvements on the LEASED PREMISES for the review and
for approval of the LESSOR and the Commercial Building.
6.2 LICENSE/PERMIT - Expenses for all necessary permits or government
inspection fees for any fixed improvements shall be for the LESSEE’S account.
The LESSOR shall have the right to inspect the work during construction and
after completion thereof to assure itself of such compliance.

6.3 In the event that any law, ordinance, land use restriction, or pertinent rule or
regulation shall require a major structural alteration, addition or any other
changes or improvements on the LEASED PREMISES, the LESSEE hereby
agrees to undertake any such alterations, additions, changes or improvements,
with the prior written consent of the LESSOR, within the LEASED PREMISES
shall be for the expense of the LESSEE.

7. THE LEASED PREMISES - The LEASED PREMISES shall be used exclusively for
the office use of the LESSEE, its personnel, helpers, and guests only. The LEASED
PREMISES shall not be subleased without the prior written consent of the LESSOR.

8. MAINTENANCE, SANITATION AND REPAIRS - The LESSEE shall keep the

LEASED PREMISES in sanitary and good condition at all times. The LESSEE warrants
that it has inspected the LEASED PREMISES and found the same in good tenantable
condition. The LESSOR shall be responsible for all major repairs on the LEASED
PREMISES unless caused by fault or negligence of the LESSEE. However, the LESSEE
shall be responsible for the repairs on the premises caused by ordinary wear and tear not
exceeding Php 5,000 per repair, including switches, knobs, electric facilities like aircon
etc., door, toilet fixtures, etc.

9. FIRE HAZARD AND OBNOXIOUS SUBSTANCE - The LESSEE shall not keep,
deposit or store in the LEASED PREMISES any obnoxious or inflammable material or
substance that might constitute a fire hazard or a nuisance.

10. PEST CONTROL - The LESSOR shall retain the services of a pest control company
against termites and beetles (“anay” and/or bukbuk). The LESSEE shall be responsible
for the extermination or protection against rats, cockroaches, ants and insects in the unit.

11. TAXES AND INSURANCE - Government assessments and special assessments for
fire insurance for the LEASED PREMISES as well as the common areas shall be for the
LESSOR’S account. The LESSEE shall be responsible for providing insurance for the
contents of the LEASED PREMISES which it owns. The insurance for the LEASED
PREMISES owned by the LESSOR shall be for its own account. Real Estate Taxes for the
LEASED PREMISES shall be for the LESSOR’S account.

11.1 The LESSEE shall obtain, in its own name, all licenses and permits required for
the operation of its business. The LESSEE hereby agrees to indemnify the
LESSOR free and harmless from against any action or liability in respect of any
 damage sustained by, or any charges imposed on, the LESSOR as a
consequence of any violation by the LESSEE of any law or ordinance in relation
to the business which the LESSEE conducts on the LESSEE conducts on the
LEASED PREMISES.

11.2 On the other hand, the LESSOR shall obtain in its own name and for its own
account, all licenses and permits including the payment of the necessary local
government taxes/fees in the leasing of the subject premises.

12. THIRD PARTY LIABILITY - The LESSEE during occupancy of the LEASED
PREMISES shall hold the LESSOR free from damage or liability or responsibility to any
person or property arising out or as a consequence of the use of the LEASED PREMISES
by the LESSEE, its personnel, helpers and guests. In case of fortuitous events, the
LESSOR shall not be liable in any manner to the LESSEE or to any occupant of the
LEASED PREMISES.

13. INSPECTION OF PREMISES - The LESSOR reserves the right at reasonable times
and with advance notice to the LESSEE to enter and inspect the premises in the presence
of the LESSEE’S representative. In case the institution of repairs are necessary in the
LEASED PREMISES, the same shall be done by prior appointment with the LESSEE.
However, should the Lessee ceased to report in the leased premises within the rental
period, the Lessor or his representative shall have the right to inspect the premises at any
time.

14. PRE-TERMINATION - The LESSEE may, for any reason, pre-terminate this
Contract and vacate the LEASED PREMISES by giving notice of its intent to the
LESSOR at sixty (60) days in advance. In such event, any refund due for the unexpired
prepaid period shall be reduced by a sum equivalent to three (3) months rental as
liquidated damages in favor of the LESSOR; provided that if the pre-termination shall be
due to the LESSOR’S wilful act or negligence, then no liquidated damages shall be due
and payable to the LESSOR by reason of such pre-termination. However, in the event of
cancellation or pre-termination less than the three (3) months from the expiration date of
this contract, The LESSOR shall be entitled only to the remaining prepaid rent without
the reduction provided in the preceding sentence. The security deposit less the amount
required to pay for the unpaid bills for water, electricity, telecommunications, or other
charges on or damages to the premises shall be refunded by the LESSOR to the LESSEE
within sixty (60) days from date of cancellation or pre-termination of this Contract.

15. RETURN OF THE LEASED PREMISES - Upon the expiration of the lease period or
any extension or renewal thereof, or upon the termination of this Contract as herein
provided, the LESSEE shall immediately and peacefully return to the LESSOR the
possession of the LEASED PREMISES as in good, clean, sanitary tenantable condition as
when the LESSEE received it from the LESSOR, save reasonable and ordinary wear and
tear. Cost for cleaning shall be for the LESSEE’S account. Thirty (30) days prior to the
expiration, termination or cancellation of this Contract, the LESSOR may show the
LEASED PREMISES to prospective tenants at reasonable hours and with at least two (2)
working days advance notice to the

LESSEE. If the LEASED PREMISES are not surrendered at the expiration of the leased
period or any extension or renewal thereof, or upon the termination of the contract, The
LESSEE shall be responsible to the LESSOR for any and all damages which the claims
made by the possession of the LEASSED PREMISES to such the succeeding tenant,
insofar as such delay is occasioned by the failure of the LESSEE to surrender the
LEASED PREMISES on time.

15.1 The LESSOR should notify the LESSEE on the expiration of this contract Sixty
(60) days prior to its expiration. If, however, after three (3) reminders the LESSEE holds
over the LEASED PREMISES notwithstanding the expiration, termination or
cancellation of the Contract without written consent of the LESSOR as above stipulated,
and/or should the LESSEE continue occupying the LEASED PREMISES against the will
of the LESSOR, the LESSEE shall be liable for and shall pay the LESSOR, by way of
liquidated damages for such occupancy and authorized use and amount equivalent to
two (2) times the monthly rentals stipulated herein for each month of occupancy or
fraction thereof; provided, further, that the payment of the LESSEE of such liquidated
damages shall not be considered as payment for rentals nor shall it be construed to
extend or renew this Contract. In either case, the LESSOR does not in any manner use its
right to eject the LESSEE from the LEASED PREMISES.

16. DEFAULT - The LESSEE shall be deemed in default within the meaning of this
Contract in any of the following instances:

16.1 The LESSEE fails to fully pay the advance quarterly rental within the first five
(5) working days of each month and or the utility charges fixed in paragraph 5
hereof, or any other financial obligation of the LESSEE stipulated herein.

16.2 The LESSEE violates any of the terms and conditions hereof and such
violations persists or remain unremedied despite notice.

17. CONSEQUENCE OF DEFAULT - Upon the occurrence of any of the events of

default as set forth in the preceding number, the LESSOR shall, in addition to the other
remedies as may be prescribed by the law, have the following rights:

17.1 To terminate this Contract without the need of any prior notice, demand or
judicial declaration.

17.2 To immediately repossess the LEASED PREMISES without the necessity of

instituting any judicial action. In this connection, the LESSEE hereby grants
unto the LESSOR full power and authority to take possession of the LEASED
PREMISES and to do such acts as may be necessary to take possession
including but not limited to entering the LEASED PREMISES in any manner,
leasable, barring the LESSEE or any of its employees or representatives from
entering the LEASED PREMISES and such other steps designed to enable the
LESSOR to effectively repossess the LEASED PREMISES.
 17.3 To demand and receive from the LESSEE payment for the rentals, utility, cusa
and other financial obligations stipulated in or arising of this Contract.

17.4 To demand and receive from the LESSEE payment for the rentals, utility and
other charges set forth in paragraph 2 hereof, corresponding to the unexpired
portion of the lease period or any extension or renewal thereof.

17.5 To take possession of and sell at public or private sale, any and all properties of
the LESSEE found in the LEASED PREMISES and to apply the proceeds
thereof in payment of any unpaid accounts of the LESSEE. For this purpose,
the LESSEE hereby appoints the LESSOR as the LESSEE’S special attorney-in-
fact with full authority and power to sell or dispose of any and all properties
under the custody of the LESSOR for such amounts or prices which the
LESSOR may deem reasonable under the circumstances, and the proceeds
thereof shall be applied as partial and full payment of the obligations, the
LESSEE under this Contract, as the case may be. It is understood, however,
that if the proceeds of the sale of all said properties shall have satisfied the
LESSEE’S obligations, the LESSOR shall turnover to the LESSEE the unsold
properties.

17.6 To automatically forfeit in its favor, the security deposit under the terms
hereby.

17.7 Before LESSOR can exercise its rights granted in the preceding numbers,
LESSEE shall be notified in writing of the occurrence of the event constituting a
default and LESSEE shall have fifteen (15) days from notice to take the
necessary corrective measures. However, if default is caused by failure to pay
its rights granted above without the fifteen (15) days notice.

18. RULES AND REGULATIONS - The LESSEE agrees to abide by the pertinent rules
and regulations promulgated by the 5 Storey Commercial Building with Penthouse of
Campeon Commercial Leasing -and other government agencies.

19. SALE, TRANSFER AND MORTGAGE - In the event of sale, transfer, mortgage, or
any other encumbrance of the LEASED PREMISES, the LESSOR shall warrant that the
purchaser, mortgagee or encumbrance holder shall respect all the terms and conditions of
this leased agreement until its cancellation, termination or expiration.

20. EXPROPRIATION - In the event that expropriation proceedings or seizure or other

similar proceedings are instituted during the lease period or any extension or renewal
thereof by the government or other entity with lawful authority to exercise such power,
either party may rescind this Contract upon giving the other party thirty (30) days notice
in writing. In such case the LESSEE hereby unconditionally relieved and releases the
LESSOR from any and all liability out of such expropriation, seizure or similar
proceedings, without prejudice to whatever recourse the LESSEE may have against the
expropriating authority or entity on account of damage caused to its properties by reason
of such expropriation, seizure or other similar proceedings.

21. STRIKES, LOCKOUTS AND OTHER LABOR DISTURBANCES - In the event that
as a result of any labor dispute or activity involving the LESSEE or arising in any way out
of the conduct of the LESSEE’S business, a picket line or strike area is established within
view of the public or other building occupants, or there is any other activity which
disrupts, interferes with or affects the operations of the LESSOR or other building
occupants, and which activity subsists for at least seven (7) consecutive days, the
LESSOR may cancel this Contract by written notice to the LESSEE. Any extra security
services that may be engaged by or charged to the account of the LESSOR by reason
thereof shall be for the LESSEE’S expense.

22. REMOVAL, DEMOLITION, RELOCATION AND ALTERATION - The LESSEE

shall not make any major structural changes, alterations or improvements on the
LEASED PREMISES without the written consent of the LESSOR. However, any major
alterations or improvements on the LEASED PREMISES without written consent of the
LESSOR. However, any major alterations or improvements made or introduced by the
LESSEE in the LEASED PREMISES with the written consent of the LESSOR shall, upon
the termination of this lease, automatically inure to the benefit of the LEASED
PREMISES and become the property of the LESSOR.

23. UNUSED FIXTURES AND ACCESSORIES - If in the opinion of the LESSEE or it

appears that the fixture or accessories of the unit are inappropriate or has no benefit or
advantage, the LESSEE, with the prior approval of the LESSOR, shall turnover the said
fixture(s) to the latter. However, the LESSOR may reject the same if it finds the request
unacceptable, in which case the LESSEE shall abide by such decision.

24. ELECTRICAL REQUIREMENT - The maximum electrical capacity of the unit is 100
KVA, 230V, 3 Phase, 60 cycles. If the limit will be exceeding in accordance with the
projected use of the LESSEE, he shall provide the LESSOR with the corresponding notice
containing the actual energy requirements for the LESSOR’S due consideration and
possible accommodation. All expenses necessary and incidental to the approved increase
of electrical capacity shall be for the account of the LESSEE.

25. FORTUITOUS EVENTS - The LESSEE shall not be liable for damages for any loss,
damage, or destruction caused to the LEASED PREMISES due to fire, earthquake,
accident or any other fortuitous events or acts of God, unless such loss, damage or
destruction is directly attributable to the fault or negligence of the LESSEE, their
employees, agents or persons under supervision or control and occurring during the
period of the Lease.

26. VIOLATION OF TERMS AND CONDITIONS - Any violation by the parties of

terms and conditions provided for in this Contract shall be a sufficient ground for the
termination of this Contract of Lease by the offended party. Further, in case of breach,
 for all actual and consequential damages incurred, including Attorney’s fees, which
amount shall not be lower than FIFTY THOUSAND PESOS (P 50,000.00) Moreover,
should the Lessee delays the rental payment for at least one month, the Lessee shall give
to the Lessor five percent (5%) penalty every month, starting from the period where the
Lessee fails to comply his obligation until finally paid.

27. CUMULATIVE REMEDIES - All rights and remedies conferred upon or reserved to
the LESSOR hereof shall be deemed cumulated and not alternative. All other rights or
remedies which may now or hereafter be given to the LESSOR by law equity may be
enforced concurrently from time to time.

28. NON-WAIVER - Failure or delay by the LESSOR to enforce or demand strict

performance by the LESSEE of any stipulation or condition of this Contact shall not affect
the validity hereof, or shall such be construed as abandonment, withdrawal, waiver or
cancellation of such stipulation, condition, right or option or of the right of the LESSOR
to subsequently enforce or demand performance of such provisions. No waiver by the
LESSOR shall be deemed to have been made unless expressed in writing and signed by
the LESSOR.

29. VENUE - In case of court action arising from or in relation to this Contract, the venue
shall be only and exclusively in the proper court of ___________________.

IN WITNESS WHEREOF, the parties hereto have signed on the date and at the place first
above written.

LESSOR: LESSEE:

ERIC R. BUHAIN SHARON BUHAYO

___________________________ ______________________________
Owner President

SIGNED IN THE PRESENCE OF:

____________________ ___________________
 ACKNOWLEDGMENT

REPUBLIC OF THE PHILIPPINES)

City of ) S.S.

BEFORE ME, a Notary Public for and in City of _______________________ personally

appeared the following persons this ________________ at the place first above written.

Name Passport/any Government valid ID’s Date/Place of Issue

ERIC R. BUHAIN

SHARON BUHAYO

Known to me to be the same persons who executed the foregoing Contract of Lease,
consisting of (9) pages, including this page of acknowledgment, signed by them and their
instrumental witnesses on each and every page hereof, and they acknowledge to me that the
same is their free act and deed of the principals they represent.

IN WITNESS WHEREOF, I have hereunto set my hand and affix my notarial seal,
in the day, year and place first above written.

Doc. No. __________

Page No. __________
Book No. __________
Series of ___________
.