CONTRACT OF LEASE

KNOW ALL MEN BY THESE PRESENTS:

This Contract of Lease, made and executed on this 11 day of August, 2023 in the City
of Talisay, Cebu, Philippines, by and between:

ENGEL BERTA G. ACEDO, of legal age, Filipino and with residence and postal address
at 444 Tiago St. San Isidro, Talisay City, Cebu hereinafter referred to as the LESSOR,

And

KIM FUENTES OBESO, of legal age, and with business/home address at Siloy
Compound, San Isidro, Talisay, Cebu hereinafter referred to as the LESSEE.

WITNESSETH

WHEREAS, the LESSOR is the registered and absolute owner of a One (1) Store Space
located at 444 Tiago St, San Isidro, Talisay, Cebu;

WHEREAS, the LESSOR has offered the lease of the above-mentioned premises and the
LESSEE is willing to lease the same under the terms and conditions hereinafter set forth:

NOW THEREFORE, for and in consideration of the foregoing premises and the terms
and conditions hereinafter stipulated, the parties, through their representatives, have
mutually agreed as follows:

1. SUBJECT OF THE LEASE: This Contract of Lease refers to the One (1) Store
Space at 444 Tiago St, San Isidro, Talisay City, Cebu;

2. TERM OF THE LEASE: This Contract of Lease shall be for a period of one (1) year
commencing on August 11, 2023 and ending on August 10, 2024 renewable at the
option of the LESSOR. Provided, that should the LESSEE decide to vacate the
premises leased on its expiry date, a notice must be sent to the LESSOR sixty (60)
days before the expiration of this contract.

3. DEPOSIT FOR THE LEASED PREMISES: The LESSEE shall pay to the LESSOR
FIVE PESOS (P5,000.00), Philippine Currency upon commencing this contract on
August 11, 2023 to answer for whatever light and water charges and damages
incurred which the LESSEE may owe in favor of the LESSOR upon termination of
this contract.

4. RENTAL FOR THE LEASED PREMISES: The LESSEE shall pay to the LESSOR
a monthly rental of FIIVE THOUSAND PESOS (P5,000.00), Philippine Currency,
which shall be paid unto the LESSOR on or before the 30 th day of the following
month of each and every month by cash.

5. FAILURE TO PAY THE LEASED PREMISES: Should the lessee fails to pay the
monthly rental for ONE (1) MONTH, the lessor shall have the right to demand
payment of unpaid rental and demand from the lessee to vacate the leased
 premises and terminate the lease and thereupon expel and remove the lessee and
its effects from the leased premises.

6. MAINTENANCE OR PRESERVATION OF THE LEASED PREMISES :

a) The LESSEE hereby expressly acknowledged that the leased premises are in
good and tenantable condition, equipped with complete lightning fixtures and
agrees to keep the same in such good and tenantable condition. Any provision of
law, present or future, on any stipulation in this agreement to the contrary
notwithstanding, the LESSEE hereby agrees and binds itself to undertake at its
exclusive expenses all repairs, necessary or otherwise, such as may be required
to maintain the same in good state of repair. It is expressly understood and
agreed, however, that the LESSEE shall not start or proceed with any repair nor in
any case introduce improvements or make alterations in the leased premises
without prior written consent and approval of the LESSOR;

b) The LESSEE shall comply with all sanitary rules and safety regulations which
may be promulgated from time to time by the national or local government and
shall keep and maintain the leased premises in clean and sanitary condition and
dispose of all rubbish.

c) The LESSOR shall not be liable for the presence of bugs, vermin, ants termites or
other insects, if any, in the leased premises;

d) The LESSEE shall pay for and defray at its exclusive expense, the consumption of
water, electric light, telephone or other utility service in the leased premises. All
repairs in the utility service systems therein shall be made by the LESSOR but for
the exclusive account of the LESSEE: The LESSOR shall not be liable for failure
of water supply and/or electric current.

7. USE OF PREMISES: The leased premises shall be used by the LESSEE for
commercial purposes only. The LESSEE as well as any member of his family or his
agents is expressly prohibited from using or permitting the use of the premises, in
any form of gambling and any acts that is against the public morals. Any pets or
animals of any kind will not be permitted in the leased premises or building without
the written consent and approval of the LESSOR.

8. ALTERATIONS, ADDITIONS, IMPROVEMENTS, ETC. The LESSEE shall not

make any alterations, additions, or improvements to the leased premises. Any
alterations, additions or improvements to the leased premises shall become the
property of the LESSOR and shall be surrendered with the premises as part thereof
at the termination of the lease without indemnity to the LESSEE.

The LESSEE should inform the LESSOR for any installation of appliance like an
airconditioning unit. Materials and Labor should be paid by the LESSEE.
Furthermore, the Electrician doing the installation should be the LESSOR’S known
electrician.

In the event, that the LESSEE will vacate the house, any alterations done to the
house should be repaired back to the original state by the LESSEE.

9. INJURY OR DAMAGED TO THIRD PARTIES WITHIN THE LEASED PREMISES.

The LESSEE hereby assumes full responsibility for any injury or damage which may
be caused to the persons while remaining in any part of the leased premises, the
 LESSEE further binds itself to hold the LESSOR free and harmless from any such
claim for injury or damage.

10. SUBLEASE, TRANSFER OF RIGHTS: The LESSEE shall not assign or transfer its
rights in this contract nor sublease or sublet all or any part of the leased premises,
without the prior written consent of the LESSOR, and no right, title, or interest
thereto or therein shall be conferred on or vested in anyone other than the LESSEE
without such written consent.

11. FIRE, ETC.: In case the leased premises are destroyed by fire, earthquake, or any
other unavoidable disaster, immediate notice thereof must be given to the LESSOR
by the LESSEE. In the event the building or any portion thereof is destroyed by fire
due to the fault of the LESSEE, its house members, servants or visitors and claim
for insurance coverage of the leased premises is rejected for reasons attributable to
the LESSEE or its members rendering the insurance policy void or unenforceable
against the insurer, the LESSEE shall construct at its own expense another building
or reconstruct the damaged portion, if there is only a partial damage according to
the same plan and specification as the damage or destroyed one, and during the
period of such construction, the LESSEE shall continue to be liable to the LESSOR
for the rentals due on the leased premises stipulated herein.

12. INSPECTION OF THE LEASED PREMISES: The LESSOR or its authorized

representative shall have the right to enter the leased premises at any reasonable
hours to examine the same for purposes of ascertaining compliance by the LESSEE
of its commitments under this agreement.

13. RETURN OF THE PREMISES: The LESSEE, at the expiration of the terms of the
lease or cancellation of this lease herein provided, will promptly deliver the said
premises to the LESSOR on the same satisfactorily clean and tenantable condition,
in all respect, not taken, reasonable wear and tear excepted.

If the said premises be not surrendered at the end of the term, the LESSEE shall
be responsible to the LESSOR for all damages which the LESSOR shall suffer by reason
thereof.

The LESSEE hereby expressly recognizes the absolute right of the LESSOR to sell
the leased premises, and in the event of sale, this contract of lease shall be deemed, in
fact cancelled and the right of the said LESSEE to occupy the premises considered
automatically terminated.

14. NON-WAIVER: The failure of the LESSOR to insist upon a strict performance of
any of the terms, conditions and covenants hereof shall not be deemed a relinquishment
or waiver of any rights or remedy that said LESSOR may have, nor shall it be construed
as a waiver of any subsequent breach or default of the terms, conditions, and covenants
shall continue to be on full force and effect until breach thereof have been enforced
against the LESSEE. No waiver by the LESSOR or any of its rights under this contract
shall be deemed to have been made unless expressed in writing and signed by the
LESSOR.

15. EXCLUSIVE: It is understood that all terms agreed upon by the parties with respect
to this lease of contract are embodied herein and no modifications, amendments, or
alterations of the terms, thereof shall be deemed to have been made unless a written
memorandum duly signed by the parties, shall have been executed.
 16. PENAL PROVISIONS: The LESSEE agrees that covenants and agreements herein
contained shall be deemed conditions as well as covenants and conditions the LESSEE
shall be liable for any and all damages, actual and consequential resulting from such
default and breach.

IN WITNESS WHEREOF, we have hereunto affixed our signatures this 11 th day of

August 2023 at Talisay City, Cebu, Philippines.

ENGEL BERTSA G. ACEDO KIM FUENTES OBESO

LESSOR LESSEE
UMID 006-0161-9673-7 DRIVER’S LIC No: G14-12-000413

Signed in the presence of:

________________________ ________________________

ACKNOWLEDGMENT

Republic of the Philippines)

Talisay City ) S. S.

BEFORE ME, a Notary Public in and for the Cities and Province of Cebu, Philippines,
this ________________, personally appeared the foregoing parties with their Identification
Number as indicated above, both known to me and to me known to be the same persons
who executed the foregoing instrument and they acknowledged to me that the execution of
the same is their own free and voluntary act and deed.

This Contract of Lease consists of four (4) pages including this page where the
acknowledgement is written duly signed by the parties and their two instrumental witnesses
on each and every page thereof.

WITNESS MY HAND AND SEAL on the day and place as above written: