CONTRACT OF FREE-LEASE

KNOW ALL MEN BY THESE PRESENTS:

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

MARIA JUDITH S. DIZON, of legal age, Filipino, widow, and a resident of Lomboy, Calape, Bohol, Philippines,
(hereinafter referred to as the "LESSOR");

- and -

JULIETA V. VILLETA, and ELLEN MAE V. CODERA both of legal ages, likewise Filipinos, single, and a
resident of Looc, Calape, Bohol, Philippines, (hereinafter referred to as the "LESSEE");

WITNESSETH That:

WHEREAS, the LESSOR is the owner of a certain parcel of land situated at Looc, Calape, Bohol, Philippines, more
particularly described as follows:

Ownership: Juana Garay and Laurencia Garay

Tax Declaration No. 2016-10-0024-00118
Property Identification No.: 047-10-0024-004-09
CAD Lot No.: 11037
Location: Looc, Calape, Bohol

WHEREAS, the LESSOR desires to free-lease the afore-described property in favor of the LESSEE and the LESSEE
accepts the free-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 free-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 free-lease shall be for a period of 10 years period to commence upon the signing of this Contract and
shall NOT be renewable at the option of the LESSEE, and thereafter NOT renewable upon mutual agreement of the parties;

2. That the annual real property tax due on the leased premises above-mentioned shall be Five-Hundred Pesos Only
(P 500.00), Philippine Currency this agreement, which shall be paid annually in favor of the LESSOR thereafter.

3. That upon the signing of this Contract, the LESSEE agrees to pay the said real property taxes levied of the free-leased
premises in favor of the LESSOR;

4. That the LESSEE understands that improvements of the housing materials specific on concretes shall be prohibited;

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 20 February 2024 at Looc, Calape, Bohol,
Philippines.

MARIA JUDITH S. DIZON

LESSOR

JULIETA V. VILLETA ELLEN MAE V. CODERA

LESSEE LESSEE

SIGNED IN THE PRESENCE OF:

JUANITO T. ODAL MARIO C. SUCUANO

LOOC- PUNONG BARANGAY LOOC- BARANGAY KAGAWAD

Invalidates without
Looc Dry Seal