CONTRACT OF LEASE

KNOW ALL MEN BY THESE PRESENTS:

This Contract of Lease executed by and between:

BERNARD R. WONG, of legal age, Filipino, single and a resident of

Vista Verde Village, Phase 1, Lot 10, Block 8, Panacan, Philippines, Davao
City hereinafter referred to as the LESSOR;

-and-

SALROSNYMBER P. ISHII, of legal age, Filipino, married and resident

of Paglingap St., Pag-asa HMS Subd., , Davao City, Philippines, hereinafter
referred to as the LESSEE;

WITNESSETH: That-

WHEREAS, the LESSOR is the absolute owner of a more or less FOUR

HUNDRED EIGHTY (480) SQUARE METERS of a parcel of land including the
improvements (warehouse) therein located at Landmark Subdivision, Km.
12 Sasa, Davao City, Philippines.

NOW THEREFORE, for and in consideration of the foregoing premises

and the covenants hereinafter set forth the parties mutually agree and bind
themselves as follows:

1. Period and rentals: The term of this lease is for ONE (1) year,
commencing on October 16, 2016 to expire on October 15, 2017
during which period the LESSEE shall pay to the LESSOR every
15th day of the current month a monthly rental.

Upon signing of this contract, the LESSEE shall pay to the

LESSOR or its authorized agent the amount of ONE HUNDRED
THOUSAND (P100,000.00) PESOS as one (1) month advance
rentals and three (3) months deposit;

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 The one (1) month advance rental made by the LESSOR shall
be credited on the rent for the first (1) month of operation of
the warehouse effective immediately;

2. The LESSEE issue eleven (11) checks for the rental to the LESSOR
every 15th day of the current month as payment for monthly
rental based on the schedule:

Date Amount

November 15, 2016 P 25,000.00

December 15, 2016 P 25,000.00
January 15, 2017 P 25,000.00
February 15, 2017 P 25,000.00
March 15, 2017 P 25,000.00
April 15, 2017 P 25,000.00
May 15, 2017 P 25,000.00
June 15, 2017 P 25,000.00
July 15, 2017 P 25,000.00
August 15, 2017 P 25,000.00
September 15, 2017 P 25,000.00

3. Improvements: That the improvements made by the LESSEE on

the leased premises shall be for the LESSEE’s account and shall be
non-refundable.

4. Use and Purpose: The LESSOR hereby expressly agrees and

warrants that the leased premises may be used by the LESSEE for
storage and assembly purposes;

5. Service Utilities: The installation of telephone, cable, internet, and

or connection on the leased premises shall be for the exclusive
account of the LESSEE with the LESSORS consent.

That the service utilities installed including electricity and water

on the LESSEE’s leased premises shall be shall be paid faithfully by
the LESSEE during the duration of this contract;

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6. Permits: That the LESSEE shall secure the necessary permits from
any government agency for the purpose installation of the said
utilities stated in paragraph 5 of this contract;

7. Maintenance: That the LESSEE at his/her own expenses shall

maintain the cleanliness and security of the leased premises;

8. Termination: That this Contract of Lease is automatically

terminated after the period has lapsed and may be renewed by
another contract.

This Contract of Lease may be pre-terminated by the LESSEE

provided that a sixty (60) day notice shall be served personally to
the other party.

Upon termination of this contract, the LESSEE shall have the right
to remove the improvements on the building and shall return the
premises in the same condition as it was before the
commencement of this contract. However, all improvements that
are fixed or those that cannot be removed without destroying or
defacing the leased premises shall become the property of the
LESSOR upon termination of the contract.

The three (3) months deposit shall be consumable or refundable

at the end of the term. In case of non-renewal of contract, the
deposit made by the LESSEE shall be returned to the LESSEE upon
termination of this contract after deducting all unpaid dues
payable by the LESSEE.

9. Fortuitous Events / Damages: That any damage to the leased

premises total or partial caused by, arising from or attribute to the
fault or negligence of the LESSEE, its employees, or visitors shall
be for the LESSEES account, where the loss is by fortuitous events
or circumstances beyond the control of the LESSOR and the
LESSEE, the lease contract shall be deemed automatically
terminated. LESSOR shall have no other liability to LESSEE other
than the return of the deposit.

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 10.Venue: In the event of any court action for any violation of the
terms and conditions of this CONTRACT OF LEASE, the venue shall
be the proper courts in the City of Davao, the aggrieved party
shall be entitled to collect from the other party all amount due,
damages and legal expenses.

IN WITNESS WHEREOF, the parties have hereunto set their hands at

the place first above written, this ________________, at Davao City,
Philippines.

BERNARD R. WONG SALROSNYMBER P. ISHII

LESSOR LESSEE

Signed in the presence of:

____________________ and _____________________

Republic of the Philippines ]

In the City of Davao ] S.S

ACKNOWLEDGEMENT

BEFORE ME, a Notary Public, for and in the City of Davao this
________________, appeared before me the parties represented to me to
be the same person who executed the foregoing instrument, consisting of
three (3) pages including this page whereon the acknowledgement is
written, signed by them and their instrumental witnesses on each and
every page thereof and that they acknowledged that the same is their own
free act and deed.

WITNESS MY HAND AND SEAL.

Doc. No. _____;

Page No. _____;
Book No. _____;
Series of 2016.

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