CONTRACT OF LEASE

KNOW ALL MEN BY THESE PRESENTS:

This Contract of Lease, made and entered into this ________ day of May 2013 in Metro Manila, Philippines, between; MARILU S. GLORIOSO, of legal age, married, Filipino and with residence and at #32 Yuchengco St., B.F. Homes, Paraaque City., Metro Manila hereinafter refrred to as the LESSOR. JANE JARANTILLA, of legal age, married, Filipino and with residence at Manduriano, Ilo-Ilo City, Manduriano, Ilo-Ilo City. WHEREAS, the LESSEE has offered to lease the Leased Premises and LESSOR has agreed to lease the same unto the LESSEE under the terms and conditions hereinafter specified. NOW, THEREFORE, for and in consideration of the foregoing premises and the mutual covenants herein contained, the LESSOR has lets and by these presents hereby lets and delivers unto the LESSEE the Lease Premises and the LESSEE hereby accepts the same by way of lease subject to the following terms and conditions:

1. DELIVERY The LESSOR hereby delivers to the LESSEE in good, clean and tenable condition the Leased Premises. The LESSEE, after inspecting the same, hereby accepts the Leased Premises in good, clean and tenable condition. 2. TERMS This lease shall be for a period 12 months from May 1, 2013 to April 30, 2014 . This Contract shall be renewable upon mutual agreement of the parties under such terms and condition as may hereafter agreed upon. In the event that this Contract of Lease is extended, the LESSEE shall give a written notice to the LESSOR of his intention to renew the lease SIXTY (60) days prior to the expiration of the lease, otherwise, this option is forfeited. 3. RENTAL The parties herein agree that the monthly rental of the Leased Premises shall be SEVEN THOUSAND FIVE HUNDRED (P 7, 500.00) only. The applicable monthly rental shall be paid to the LESSOR or her authorized representative every first week of the month, in twelve (12) postdated checks to be given to the Lessor upon signing of this contract. 4. DEPOSIT - The amount of SEVEN THOUSAND FIVE HUNDRED PESOS (P7, 500.00) ONLY representing deposit shall be held by the LESSOR to answer, at the termination of this Contract for any unpaid bills, for water, electricity, telephone, association dues of damages to the leased premises, aside from ordinary wear and tear. The LESSOR shall deduct from the deposit only such amounts as are duly proven to be properly deductible from the deposit, the balance if any, shall be refunded to the LESSEE within SIC\XTY (60) calendar days from date of termination of this contract. The two (2) months advance rental is hereby waived, since this is a renewal of the contract, and the LESSEE has been paying continuously.

5. UTILITY BILLS - All expenses for water, electricity, telephone, cable TV, and association dues shall be for the account of the LESSEE through the terms of the lease and until the Leased Premises have been vacated by the LESEE. 6. RESIDENTIAL PURPOSE The Leased Premises shall be used exclusively for residential purposes of the LESSEE. The LESSOR shall not less any part of the Leased Premises to any other lessee. 7. IMPROVEMENTS The Lessee shall not make any major structural changes, alterations or improvements in the Leased Premises without the written consent of the LESSOR. Any major alterations or improvement made or introduced by the LESSEE in the Leased Premises with the written consent of the LESSOR shall, upon the termination of this Contract, automatically inure to the benefits of the Leased Premises and become property of the LESSOR, without reimbursement to the Leased Premises. Unless the same can be removed damage to the Leased Premises in which case the LESSEE, may remove the same. Minor alterations or improvements made or introduced by the LESSEE that likewise can be removed without damage to the Leased Premises may be removed by the LESSEE. 8. SANITATIONS AND REPAIRS The LESSEE shall exercise the distance of a good father of the family in keeping and maintaining the Leased Premises in the good and habitable condition. The LESSOR shall be responsible for all the major repairs in the Leased Premises such as but not limited to, structural repairs of the house and surrounding premises, windows and screen, electrical, sewerage and plumbing system. The LESSEE, shall repairs or replace any damage in the Leased Premises arising from the fault or negligence of the LESSEE, any member of this household, or guest, at his expense. Minor repairs incurred through ordinary wear and tear such as but not limited to, replacement of the light bulbs, fuses, breakage or loss of faucet leaks and damaged door knobs, shall be the account the LESSEE, except when such repairs or replacement involves electrical wiring, circuit breaker and parts thereto, as well as those involving structural constructions of the house and surroundings premises in which cases they shall be for the account of the account of the LESSOR. 9. FIRE HAZARD AND OBNOXIOUS SUBSTANCE - The LESSEE shall not keep, deposit or store in the Leased premises any obnoxious substance or inflammable material or substance the might constitute a fire hazard except LPG for cooking and generator for lighting purpose. 10. TAXES AND INSURANCE - Real estate taxes, government assessments and fire insurance charges on the Leased Premises shall be for the LESSORS account.

11. THIRD PART LIABILITY - The LESSEE shall during his occupancy of the Leased Premises, hold the LESSOR free and harmless from any damage or liability or responsibility to any person or property arising out of as a consequence of the use of the Leased Premises by the LESSEEE, his agent, employee, domestic help and guests. When any damages or liability is caused by fortuitous events or acts of God such as typhoon, earthquake, flood etc., which are beyond the control of the LESSEE, or by acts of the LESSOR, his agents, employees, or by third parties over whom the LESSEE does not have any right of control or supervision, the latter not be liable to the LESSOR. 12. INSPECTION OF PREMISES The LESSEE shall maintain the Leased Premises in good and tenantable condition and for such purpose, the LESSOR reserves the right at reasonable intervals of time and during reasonable hours of the day and with prior notice to the LESSEE, to enter an inspects the Leased Premises and to make the necessary repairs thereon. The LESSEE likewise agreed to cooperate with the LESSOR in keeping the Leased Premises in good and tenantable condition.

13. SUBLEASE AND ASSIGMENT - The LESSEE shall not sublease or allow the Leased Premises to be occupied or used in whole or in part by any other party without the written consent of the LESSOR. 14. SALE, TRANSFER AND MORTGAGE In the event of sale, transfer, mortgage or any other encumbrance of the same, the LESSOR shall warrant that the vendee, transferee, mortgage or holder of any other encumbrance shall respect all terms and conditions of this Contract of Lease. 15. PRE-TERMINATION - In the event that the LESSEEE decides to pre-terminate this Contract, a written notice of pre-termination should be sent to the LESSOR at least THIRTHY (30) DAYS before the affectivity date of the pre-termination. The ONE (1) month Security deposit in the sum of SEVEN THOUSAND FIVE HINDRED PESOS (P 7,500.00) ONLY, shall be deemed automatically forfeited in favor of the LESSOR. The LESSEE shall also be liable to pay the LESSOR all the remaining utility bills and damages to the premises before actual clearance and release from this Contract shall be granted to the LESSEE. 16. RETURN OF THE PREMISES - The LESSEE agreed to return and surrender the Leased Premises including the furniture and fixtures therein at the end of the term in as good condition as reasonable wear and tear will permit and without delay whatsoever devoid od all occupants, personal articles and effects of any kind other such alterations, additions or improvements which shall be subject to the provision of Paragraph 7 above. Should the LESSEE fail to remove the same despite the termination of this lease, it is understood that the LESSOR is expressly authorized by the LESSEE to enter the premises and put the same in storage. The LESSEE further agreed top pay all costs for transfer and storage in event that said LESSOR chooses to exercise this action.

IN WITNESS WHEROF, The parties have hereunto signed this Contract of Lease, this ______ day of _______________, in Paraaque City.

MARILU S.GLORIOSO LESSOR

BENJAMIN JARANTILLA, JR. LESSEE

SIGNED IN THE PRESENCE OF:

_______________________ JANE FRANCES JARANTILLA

ACKNOWLEDGEMENT

REPUBLIC OF THE PHILIPPINES) PARAAQUE CITY ) S.S

BEFORE ME, a Notary for and in Paraaque City this _________________ day of ________________, personally appeared:

NAME

CTC NO./PASSPORT

DATE/PLACED ISSUED

MARILU S. GLORIOSO JANE JARANTILLA

_________________ _________________

__________________ __________________

Know to me and to me know to be the same persons who executed the foregoing Contract of Lease and they acknowledged to me that the same is their free and voluntary act and deed, in the capacities in which they appeared. This instrument relates to a lease of a parcel of land located in Paraaque City and consist of five (5) pages, including the page on which this acknowledgement is written duly signed by the parties and their instrumental witnesses.

TN TESTIMONY WHEROF, I have hereunto set my hand and affixed my notarial seal on the date at the place first above written.

NOTARY PUBLIC

Doc. No. _____: Page No. _____: Book No. _____: Series of 2013.