CONTRACT OF LEASE

KNOW ALL MEN BY THESE PRESENTS:

This Contract of Lease made and entered into by and between:

ZENAIDA T. TOBIAS, of legal age, Filipino, single and a resident of Santa Cruz,
Laguna, Philippines, (hereinafter referred to as the "LESSOR");

- and –

RONALD P. BAUTISTA JR., of legal age, Filipino, single, and a resident of Santa Cruz,
Laguna, Philippines, (hereinafter referred to as the "LESSEE");

WITNESSETH That:

WHEREAS, the LESSOR is the registered owner of a parcel of unregistered land

covered by Tax Declaration Number. 25-0004-00643 and Property Identification Number
023-25-0004-002-12 located in Barangay Poblacion IV Santa Cruz, Laguna with the
following details:
Classification : Commercial
Area : 170 sq. m.
Lot Number : 189
Boundaries : NE: 11(190) SW: 13 (188)
SE: 27 (L. Taleon St.) NW: 02 (191-C)
WHEREAS, the Lessor desires to lease the afore-described property 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 parcel of land subject to the following
terms and conditions, to wit:

1. That the term of this lease shall be for a period of five (5) years to commence upon
the signing of this Contract and shall be renewable for another five (5) years at the
option of the LESSEE, and thereafter renewable upon mutual agreement of the parties;

2. That the monthly rentals on the leased premises above-mentioned shall be Five
Thousand Pesos (P5,000.00), Philippine Currency for the first three (3) years of this
agreement, which shall be increased by TWO THOUSAND PESOS (P2,000.00) every
two (2) years thereafter. The rentals shall be paid by the LESSEE to the LESSOR on a
monthly basis payable on or before the 30th day of every month;

3. That upon the signing of this Contract, the LESSEE agrees to pay advanced rentals
for twenty-four (24) months; (5,000 x 24 = Php 120,000.00)

4. That the LESSOR shall pay the real property taxes levied of the leased premises
corresponding to the aforementioned parcel of land while the LESSEE shall pay the real
property taxes levied on the building and other improvements that shall be introduced
by the latter;
5. It is expressly agreed by the parties herein that any fixed improvements or
renovations that will be introduced in the subject stall shall become the property of the
LESSOR after the expiration of the term of this Contract.

IN WITNESS WHEREOF, the parties have hereunto affixed their signatures this 22 nd
day of August, 2022 at Santa Cruz, Laguna, Philippines.

___________________________ ___________________________
ZENAIDA T. TOBIAS RONALD P. BAUTISTA JR.
Lessor Lessee

SIGNED IN THE PRESENCE OF:

______________________________ ______________________________
Witness                                   Witness