LEASE AGREEMENT

THIS LEASE AGREEMENT ("Agreement") made and entered into this ______ day of ____________, 2023,
by and between:

(Lessor’s Full Name)Rubie AlconesRubie Alcones, of legal age, Filipino, with residence and postal
address at _________, hereinafter referred to as the "LESSOR",

AND

(Lessee’s Full Name), of legal age, Filipino, with residence and postal address at _________, hereinafter
referred to as the "LESSEE".

WHEREAS, the LESSOR is the duly appointed representative of the heirs of the registered owner of a
parcel of land covered by TCT no. 4473 with an area of approximately 400 square meters, located in
South National Hiway, Dumaguete City, Philippines;

WHEREAS, the LESSEE desires to lease the aforementioned property, and the LESSOR is agreeable to
such lease;

NOW THEREFORE, for and in consideration of the mutual covenants contained herein and for other
good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the
LESSOR hereby RENTS/LEASES the property to the LESSEE, with the parties agreeing as follows:

[1.] TERM: The term of this Lease shall commence on ____________, 2023_ and shall terminate on
____________2028 continue (unless sooner terminated as provided herein) for a period of five
(5) years, renewable upon mutual agreement of the parties upon such terms and conditions as
may be agreed upon by them. The LESSEE shall notify the LESSOR in writing of his intention to
renew this Agreement at least two months before its expiration.

1.[2.] TIME OF PAYMENT: The lease payment for the particular month shall be paid on or before the
5th day of the start of the month without need of demand;

2.[3.] RENT: LESSEE agrees to pay to the LESSOR the monthly rent of Fifty Thousand Pesos (₱50,000),
plus Value-Added Tax and Withholding Taxes. [To discuss the amount to be reflected in this
Agreement as agreed in the meeting]

3.[4.] ESCALATION: There will be no increase in the rental fee for the first three (3) years. On the
fourth (4th) year, there will be an increase of 5% on the rent. The rent for the fifth (5th) year will
be the same as the 4th year.

[5.] SECURITY DEPOSIT: Upon execution of this Agreement, the LESSEE will deposit with the LESSOR
the sum of One Hundred Thousand Pesos (P100,000.00)equivalent to two (2) months rental as
security deposit for the LESSEE's faithful performance of the terms and conditions of this
LeaseAgreement. The security deposit shall answer in full or in part for any damage that may be
sustained by the LESSOR and any monetary liability or obligation owed by the LESSEE to the
LESSOR by reason of any act or omission of the LESSEE in violation of this contractAgreement.
The security Ddeposit shall be kept whole throughout the term of this Agreement and shall be
refunded to the LESSEE without interest within a period of sixty days from termination this
Agreement less whatever amount may be owed by the LESSEE to the LESSOR provided that the
 LESSEE is not in breach of any of the covenants under this Agreement and after the LESSEE shall
havehas completely vacated the premises. at the expiration of the contract minus costs of
repairs for damages that the leased premises may suffer during the occupancy of the LEASE;

[6.] RENT-FREE PERIOD: The LESSEE shall be given a rent-free period of ninety (90) days from the
commencement date of the leaseis Agreement for the purpose of renovating and preparing the
leased premises for operation.

4.[7.] UTILITIES: All expenses for water, electricity, telephone, sanitation, sewerage, gas and other
public utility services shall be for the account of the LESSEE and shall be paid before their
respective due dates. The cost of installation of utilities within the Leased Properties, such as
water and electricity, shall be for the account of the LESSEE;

[8.] DEFAULT: If the LESSEE fails to comply with any of the material provisions of this Agreement, the
LESSOR may terminate this Agreement upon providing proper notice to the LESSEE;. Should the
LESSEE fail to pay for more than thirty days any amount due the LESSOR under this Agreement,
the LESSOR shall of right have the power and authority to lock out the LESSEE from the leased
premises and prevent the LESSEE from entry therein. The LESSOR shall also have the right to
retain any property found in the leased premises as security for payment of any of the LESSEE’s
obligation under this Agreement. The LESSOR may sell or dispose of such property and the
proceeds applied to such obligation. A penalty charge of one percent (1%) per day until fully
paid shall be imposed on all accounts and liabilities of the LESSEE to the LESSOR which are in
arrears.

[9.] TERMINATION: Upon termination or upon expiration of this contractAgreement, if it is not

renewed by the mutual agreement of the parties, the LESSEE will deliver the said leased
premises and all keys thereof to the LESSOR. All improvements made on the leased premises
shall belong to the LESSOR at the termination or expiration of this Agreement, unless the
LESSOR requires the LESSEE to remove or demolish all or specific part of such improvements, in
which case, the costs and expenses of the removal or demolition shall be for the account of the
LESSEE.;

5.[10.] SIGNS AND ADVERTISEMENTS: the LESSEE may install, erect or affix upon the Leased
Properties, signs or advertisements as may be necessary to promote and/or advertise the
business in which it is engaged in. These Signs and Advertisements shall NOT be considered as
permanent improvements for purposes of this agreement.

6.[11.] GENERAL MAINTENANCE, SANITATION, REPAIRS AND SAFETY: The cost of general
maintenance and upkeep of the Leased Properties shall be for the account of the LESSEE. The
LESSEE shall keep the Leased Properties in a clean, safe and sanitary condition and introduce all
the needed repairs at all times;

[12.] ASSIGNMENT: In the event of a transfer, assignment or encumbrance, of the rights and
interests of the LESSOR over the propertyleased premises , the rights and interest of the LESSEE
under this Lease Agreement shall be respected and observed in its entirety by such assignee,
transferee or mortgagee, and for the entire term hereof unless otherwise mutually agreed upon
by the parties including the LESSEE.;
 [13.] TRANSFER OF RIGHTS: The LESSEE shall not assign, or transfer or encumber its rights under this
leaseAgreement without the prior written consent of the LESSOR and no right, title or interest
thereto or therein shall be conferred on or vested in any other party other than the LESSEE
without such written consent.

7. Real Property Taxes: The real property taxes due on the land covered by TCT No. 4473 shall be
for the account of the LESSOR while the real property taxes due on the improvements
introduced by the LESSEE on the leased premises shall be for the account of the LESSEE until the
expiration or non-renewal of this Agreement.

The rest of the terms and conditions of this Lease shall be in accordance with the laws of the Republic of
the Philippines.

IN WITNESS WHEREOF, the parties have executed this Lease Agreement at _____________, this ______
day of ____________, 2023.

LESSOR: LESSEE:

(Lessor’s Full Name)Rubie AlconesRubie Alcones (Lessee’s Full

Name)
Valid ID: Valid ID:

ACKNOWLEDGEMENT

Republic of the Philippines)

City of ____________________) S.S.

On this __________ day of _____________, 2023, before me, a Notary Public, personally appeared
____________ (Lessor’s Full Name)Rubie AlconesRubie Alcones, and ____________ (Lessee’s Full
Name), both showing their competent evidence of identity, known to me to be the same persons who
executed the foregoing instrument and they acknowledged to me that the same is their free and
voluntary act and deed.

NOTARY PUBLIC

Doc. No. _______;

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