CONTRACT OF LEASE

KNOW ALL MEN BY THESE PRESENTS:

This CONTRACT OF LEASE made and entered into by and between:

CHERRY COCHING DARIAGAN, of legal age, Filipino, and a resident of
Barangay Balabag, Malay, Aklan hereinafter referred to as the “LESSOR”
-and-
LEE NI PARK., Korean National, of legal age, and currently residing at Balabag,
Boracay Island, Malay, Aklan, herein referred as to the “LESSEE”;
WITHESSETH:
WHEREAS, the LESSOR presented himself to be the owner and possessor of a
TWO Storey Boarding House standing on Lot No. 7979 located at Barangay Balabag,
Boracay Island, Malay, Aklan, with an area of SIXTY-EIGHT (68) square meters, more
or less;
WHEREAS, the LESSOR is willing to lease, and the LESSEE has offered to lease
from the LESSOR the above Staff/Boarding House (the same under the following terms
and conditions:

1. That the term of this Contract of Lease shall be for a period of Five (5)
years and shall commence on October 1, 2022 to October 1, 2027 renewable
upon the agreement of both parties;

2. That the monthly rental shall be FOURTY THOUSAND PESOS (Php

40,000.00), payable every 1st of the month;

That the LESSEE shall pay the amount of ONE HUNDRED TWENTY
THOUSAND PESOS (Php 120,000.00) upon signing of this Contract
representing THREE (3) months deposit, consumable on the LAST (3) month
of Lease period (July 2027, August 2027 & September 2027). Next payment
of monthly rental shall be on July 1, 2023;

3. That the Electric Bill and Water Bill they will provide and paid by the LESSEE.
That all the utilities/amenities and others shall be for the account and paid of
the LESSEE.

4. That the LESSEE shall maintain the Leased Premises in a clean and sanitary
condition, free from offensive odors, disturbing noises or other nuisance. The
LESSEE shall responsible for its own proper garbage disposal;

5. That the LESSOR will provide Barangay Business Clearance of the

Boarding/Staff House, however if the LGU-Malay required to process the
Business Permit the LESSEE will be responsible for the compensation;

6. That all the terms and conditions stipulated in this Contract shall be binding
and obligatory among the parties, their heirs, successors, and assigns.
Parties have read and agreed on the terms and conditions stated herein knowing
and voluntarily.
 IN WITNESS WHEREOF, we have hereunto set our hands at Boracay Island,
Malay, Aklan, Philippines this ____ day of June 2023.

CHERRY COCHING DARIAGAN LEE NI PARK

LESSOR LESSEE

Signed in the presence of:

______________________ ______________________

ACKNOWLEDGEMENT

REPUBLIC OF THE PHILIPPINES)

PROVINCE OF AKLAN )
MUNICIPALITY OF MALAY )
X---------------------------------------x

BEFORE ME, a Notary Public in and for the Province of Aklan, Philippines, this
_________________________ at Malay, Aklan, personally appeared:

Name Passport/ID No. Date & Place Issued

who have satisfactorily proven to me their identity through their above stated
Identification Cards are known to me and to me known to be the same persons who
executed the foregoing instrument known as Contract of Lease and acknowledged that
the same is their voluntary act and deed.

WITNESS MY HAND AND SEAL on the day, place and year above –written.

Doc. No. _______;

Page No._______;
Book No._______;
Series of 2023.