CONTRACT OF LEASE

KNOW ALL MEN BY THESE PRESENTS:

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

Mr. EDWIN VINGNO and FE O. VINGNO of legal age, Filipino

citizen, residence of Wao, Lanao Del Sur- BARMM, herein referred to as
LESSOR,

AND

Mr. JERLY L. AREJA of legal age, Filipino citizen, married, a resident

of Salawagan, Quezon, Bukidnon, herein referred to as the LESSEE,

WITNESSETH:

WHEREAS the LESSOR is the owner of the parcel of Land located along
National Highway, Wao Lanao del Sur, with an estimated area of 600 SQM more or less,
owned by the LESSOR.

WHEREAS the parties agreed on the following terms and conditions to wit;

1. This CONTRACT OF LEASE shall be for a period of Ten (10) years, but
renewable every 5 years.

2. The area covered by these lease contracts shall be not less than 600 SQM.

3. The monthly rental for the first Three (3) months of operation shall be Ten
Thousand Pesos (10,000.00).

4. Then the monthly rental starting the fourth month of operations shall be Twelve
Thousand Pesos (12,000.00) until the end of five (5) years contract and may
increase between (5) five percent to ten (10) percent subject to the agreement of
both parties.

5. The LESSEE agrees to pay the LESSOR upon the effectivity of the contract the
following;
a) One (1) month deposit equivalent to Ten Thousand (10,000).
b) One (1) month advance equivalent to Ten Thousand (10,000) to
cover rental for the first month.

6. The LESSEE is given the privilege to set up, develop, and construct needed for its
business facilities fee of charge until its final opening.

7. The rental fee shall be exclusive of electricity and water bill consumption;

8. That all improvements and facilities set up, and developed within the premises
shall remain to be the sole account of the LESSEE and may be removed by him
upon ending of the Lease Contract.

9. That the LESSEE may sublease the premises to a third party provided with
written notice to the LESSOR and for business purposes only.

10. That may change or amendment of this contract shall be agreed upon by both
parties.
IN WITNESS WHEREOF, we have set our hand this ____ day of _____ at
______________________________.

Lessors:

MR. EDWIN VINGNO MRS. FE O. VINGNO

Lessee:

MR. JERLY L. AREJA

Witness:

MR. JOE PENDATUN