BILLBOARD RENTAL AGREEMENT

This Billboard Rental Agreement (the Agreement) made and entered

into by and between:
ARTJUANA SPECIALIZED ADVERTISING AND PRINTING,
an advertising company dulycorporation organized and existing under and by
virtue of the laws of the Republic of the Philippines, with main principal office
address at the J&B Bldg. Mabini St., Iloilo City, Philippines, and represented
herein represented by its Managing Director, JANE L. JAVELLANA, and
hereinafter known and referred to as the ARTJUANA SPECIALIZED
ADVERTISING AND PRINTING ;

and

ACM HOMES,
a domestic corporation duly organized and existing under the laws of
the Republic of the Philippines, with a permanent principal office address at
the 105 CSJ Building, Aguirre Street, Legaspi Village, Makati City, Philippines,
herein and duly represented herein by its Group Vice President, MA.
ANGELINA B. MAGSANOC, and hereinafter referred to as the CLIENT;;

W I T N E S S E T H, That WHEREAS, ARTJUANA SPECIALIZED ADVERTISING AND PRINTING

is engaged in the business of outdoor advertising;
WHEREAS, CLIENT is in need of the services offered by
ARTJUANA SPECIALIZED ADVERTISING AND PRINTING;
NOW, THEREFORE, for and in consideration of the above
premises, and the covenants hereinafter stipulated, the parties
agree as follows: CLIENT has offered to engage the services of
ARTJUANA SPECIALIZED ADVERTISING AND PRINTING and the
parties have mutually and voluntarily agreed on the following:
TERMS AND CONDITIONS I.

PERIOD
This Agreement shall be valid for a period of three (3) months
starting from 15 March 15, 2016, subject to renewal under such
terms and conditions mutually agreed upon by both parties.

II.

SIGNS ETC. OUTDOOR ADVERTISINGARTJUANAS OBLIGATIONS:

1. ARTJUANA sShall provide CLIENT with billboard facilities to for
the display its photographic tarpaulin promotingof the latters
CLIENTs goods and/or services, which billboard facilities shall
have with the following specifications:
1.1
SIZE: 20 x 40 FEET
1.2
LOCATION: Brgy. Mali-ao, Pavia, Iloilo

2. ARTJUANA sShall exclusively manage and maintain the

BILLBOARD in good display and condition at its own expense
for the during duration of this Aagreement and any extension
thereof.
III.

CLIENTS OBLIGATIONS:
1. CLIENT sShall pay ARTJUANA SPECIALIZED ADVERTISING AND
PRINTING a monthly billboard rentals in the amount of PESOS:
One Hundred Seventeen
Thousand Pesos,ONLY (Php
117,000), Philippine Currency (Php 117,000.00), which shall
be exclusive of the Twelve Percent (12%) E-VatValue-added
Tax (VAT). CLIENT shall pay for the first month of the term
upon the execution of this Agreement, or on 15 March
2016. The payment for the remaining months shall be made
on or before the 5th day of each month per month;
;
1.1 ADVANCE: One (1) month advance applicable to the first
month of term;
1.2
PAYMENT MODE: On or before the 5th day of each
succeeding month;
1.3
1.4

2.

IV.

CLIENT shall issue post-dated checks for the two (2)

remaining months payment upon the execution of this
contract Agreement dated accordingly. Bounced checks shall
be charged a penalty of 10% of its face value. Rental arrears
shall be charged 5.0% interest per month until fully paid.

PRE-TERMINATION:
1. This Agreement may be terminated at anytime for any reason
by either Pparty; provided, that the Pparty cancelling
terminating the same shall give written notice to the other
Pparty at least thirty (30) days prior notice to the proposed
termination date;
2. Should the billboard/s be removed pursuant to any law,
ordinances, rules and regulations, or by any order of
governmental authorities, this Aagreement shall be
automatically terminated with no further obligations on the
Pparties, except for the rental already accrued, unless another
location can be obtained and agreed upon by both Pparties, in
which case this Aagreement shall continue for the remainder
of the term on the same terms and conditions herein
provided.

V.

MISCELLANEOUS:
1.
TAXES AND PERMITS: ARTJUANA SPECIALIZED
ADVERTISING AND PRINTING shall obtain all permits and pay all
taxes due to national and local government on account of its
ownership of and rental income from the lease of the billboard
facilities;
2. OWNERSHIP: The sSteel structure/s to be provided to the
CLIENT shall be the sole property of ARTJUANA SPECIALIZED
ADVERTISING AND PRINTING . The pPhotographic tarpaulin to be
used in the billboard facilities shall be the sole property of
CLIENT.
Upon termination of this Aagreement, ARTJUANA

SPECIALIZED ADVERTISING AND PRINTING willshall store the such

photographic tarpaulin, subject to for claiming by CLIENT for
within one (1) week from date written notice from ARTJUANA of
such removal, after which the same shall be disposed of by
ARTJUANA at its own discretion by ARTJUANA SPECIALIZED
ADVERTISING AND PRINTING ;
3. DAMAGESFREE AND HARMLESS CLAUSE: Any loss, damage,
injury and/or liability of whatever nature that may be suffered by
third parties arising from the setting-up of the billboard facilities
for CLIENT shall be the sole responsibility of ARTJUANA.
SPECIALIZED ADVERTISING AND PRINTING and CLIENT shall
be free and harmless from any liability of whatever kind of
nature:
4. FORCE MAJEURE: ARTJUANA SPECIALIZED ADVERTISING
AND PRINTING shall. If feasible, repair the billboard/s within one
(1) week after it isthe same is/are damaged by fire, storms,
earthquakes or other fortuitous events. If the billboard/s cannot
be repaired within one (1) week thereof, contract this Agreement
shall be extended, free of charge, equivalent to the number of
days the CLIENTs billboard is not duly exposedrepaired.
5. NON-WAIVER: Failure of either Pparty to insist upon a strict
performance of any of the terms and conditions herein stipulated
shall not deemed as a waiver of any right or remedy which either
Pparty may have, nor shall the same be construed as a waiver of
any subsequent breach or default;
6. LITIGATION: Venue for any litigation arising out of this
Aagreement shall be exclusively in the proper court of Iloilo City
to the exclusion of all other venues;
7. ENTIRETY: This Aagreement contains the entire terms and
conditions between the Pparties and cannot be amended except
in writing signed by both Pparties;
8. SEPARABILITY: If any part hereof is declared contrary to
law or public policy, or is otherwise declared invalid, such shall
not affect the other parts;

IN WITNESS WHEREOF, the parties hereunto have executed

this Aagreement in the City of Iloilo, Philippines, this ________________.

ACM HOMES
ADVERTISING

ARTJUANA SPECIALIZED
AND PRINTING ASAP

By: MA. ANGELINA B. MAGSANOC

By: JANE
JAVELLANA

Group VP for Business Devt & Corp. Marketing

Director

Managing

Signed in the presence:

________________________________

______________________________

ACKNOWLEDGMENT

REPUBLIC OF THE PHILIPPINES)

CITY OF ILOILO

)S.S.

BEFORE ME, a Notary Public and in the City of Iloilo, this ____
day of February,
2016 and personally appeared before me the following:

Drivers License No.

Valid up to:

JANE JAVELLANA

FO3-01-138996

2019-01-01

MA. ANGELINA B. MAGSANOC

24

N03-89-082258

2016-06-

All known to me and to known to be the same persons who executed

this foregoing instrument and acknowledged to me that the same are their
own free and voluntary act/deed.

WITNESS MY HAND AND SEAL, on the date and on the place

above mentioned.

Doc. No. ______

Page No. ______
Book No. _____
Series of 2016