RICHWEALTH DEVELOPMENT CORPORATION

Mr. RONALD LIM

Lancaster Bldg.
Mandaluyong City Mero Manila

SUBJECT: PROPOSAL ON PAYMENT OF RENTALS

Dear Mr. Lim:

As explained to your Ms. Marlyn Usi, we seek to propose certain adjustments in our rental payments
for our leased premises at the second floor of the Lancaster Towers.
Due to the various changes in our business environment brought about by the COVID-19 epidemic, there
have been corresponding changes of assigned spaces occupied by our various affiliates. The continued
uncertainties surrounding the POGO businesses have diminished the need for more space. On the other
hand, the very buoyant results of our Multi-level Marketing business required more office space.
However, the overall tough economic challenges continue to hound us, which translates to our
difficulties in meeting our regular expenses, such as rentals, on their due dates. We are nevertheless
committed to respect our contract obligations and this will even be further alleviated with your hopeful positive
responses for our various rent-related proposals below:
1. We request that the rentals for Unit 201A, 201B, 201D, 201E, the comfort rooms and hallways totaling
315.83 SQM (Area A) and paying a monthly rental of 280,061.44 be moved by one month to October
2020, instead of September 2020. This is because it took us an unusually long time to finish the
renovation works of the spaces before we could use them.
2. We also request that the payment for the newly turned over spaces to us for units 201C, 207, 208,
and additional common area totaling 270.88 SQM (Area B) and paying a monthly rental rate of PHP
244,964.96, be started on February 20 instead of the original start date of January 20 for the same
reason (Annex A). Annex B shows that, given the above requests, we owe PHP 84,000 of unpaid
January rentals. We intend to pay this in the next two (2) weeks. The rest of Annex B shows our
rental accountabilities for the succeeding months.
Our proposed revised payment plan for February rentals moving forward is summarized in Annex B-1.
We are asking for deferring a portion of rentals due February, March and April, which we intend to pay
up starting May. We will be completely updated by July 2021.
We hope this proposal merits your approval.

Very truly yours,

Prof. DANILO ANTONIO

2nd Floor, Lancaster Hotel, 622

Shaw Blvd. Mandaluyong City
RICHWEALTH DEVELOPMENT CORPORATION

ANNEX A
Summary Rate on Rented Space
Size Rental Total Rental Monthly
Company Location Unit CUSA
(sqm) Rate Rate Rental
COMMERCIAL
September 20, 2020
Golden Lion Asia Inc. Area A 201-A 90.82 800.00 112.00 912.00 82,827.84
Artopian Internationale
Inc. Area A 201-B 135.95 800.00 112.00 912.00 123,986.40
Artopian Internationale
Inc. Area A 201-D 13.09 800.00 112.00 912.00 11,938.08
Common Area Area A 201-E 4.76 800.00 112.00 912.00 4,341.12
CR Male &
Common Area Area A Female 27.65 800.00 - 800.00 22,120.00
Common Area Area A Hallway 43.56 800.00 - 800.00 34,848.00
Richwealth Development
Corp. Area A 202 81.65 800.00 112.00 912.00 74,464.80
397.48 354,526.24
December 20, 2020
Artopian Internationale
Inc. Area B 201-C 55.29 800.00 112.00 912.00 50,424.48
Artopian Internationale
Inc. Area B 207 110.26 800.00 112.00 912.00 100,557.12
Artopian Internationale
Inc. Area B 208 86.78 800.00 112.00 912.00 79,143.36
Artopian Internationale
Inc. Area B Additional Area 18.55 800.00 - 800.00 14,840.00
270.88 244,964.96

2nd Floor, Lancaster Hotel, 622

Shaw Blvd. Mandaluyong City
 RICHWEALTH DEVELOPMENT CORPORATION

ANNEX B

SEPTEMBER OCTOBER NOVEMBER DECEMBER JANUARY FEBRUARY MARCH APRIL MAY JUNE
- 280,061.44 280,061.44 280,061.44 280,061.44 280,061.44 280,061.44 280,061.44 280,061.44 280,061.44
Area A Payment
- Adv. Adv. Adv. 280,061.44 (Pd December)
244,964.96 244,964.96 244,964.96 244,964.96 244,964.96
Area B Payment
Adv. Adv. Adv.
41,586.25 41,586.25 41,586.25 41,586.25 41,586.25 41,586.25 41,586.25
Parking Pd
41,586.25 41,586.25
184,169.28 184,169.28 184,169.28 184,169.28 184,169.28 184,169.28 184,169.28 184,169.28 184,169.28 184,169.28
Residential PD
Adv. Adv. Adv. 184,169.28 Pd 100000
Net Unpaid
- - - - 84,169.28 505,816.97 505,816.97 505,816.97 750,781.93 750,781.93

2nd Floor, Lancaster Hotel, 622

Shaw Blvd. Mandaluyong City
RICHWEALTH DEVELOPMENT CORPORATION
ANNEX C
The summary proposal is reflected below:
PROPOSED CUMULATIVE
MONTH RENTAL UNPAID REMAINING UNPAID
PAYMENT UNPAID

JANUARY 84,000 84,000 - -

FEBRUARY 505,000 255,000 250,000 250,000

MARCH 505,000 305,000 200,000 450,000

APRIL 505,000 405,000 100,000 550,000

MAY 759,000 859,000 (100,000) 450,000

JUNE 759,000 959,000 (150,000) 300,000

JULY 759,000 959,000 (150,000) 150,000

AUGUST 759,000 959,000 (150,000) -

SEPTEMBER 759,000 759,000 - -

OCTOBER 759,000 759,000 - -

NOVEMBER 759,000 759,000 - -

DECEMBER 759,000 759,000 - -

2nd Floor, Lancaster Hotel, 622

Shaw Blvd. Mandaluyong City