Page

GONTRACT
KNOW ALL MEN BY THESE PRESENTS
:

OF LEAS E
this

This CONTRAGT OF LEASE.

at

made

and entered into

by and between:

day of
corporation duly

IBC INTERNATIONAL BUILDERS CORPORATION

organized and existing under and by virtue of the laws of the Philippines with principal offrce address at 58 Avancena Street, Barangay North Fundidor, Molo, lloilo City, represented in this act by its Corporate Secretary, ALLAN RYAN L. TAN, duly authorized for the purpose by virtue of a Board Resolution hereto attached and made an integral part hereof as "Annex A", hereinafter referred to
as the " LESSOR";

,a

-andEAST WEST BANKING CORPORATION, a universal banking corporation duly organized and existing under Philippine laws, with principal office address at East West Corporate Center, 5'n floor,_Podium of the Beaufort, 5'n Ave. corner 23'd St., Fort Bonifacio Global City, Taguig City, represented in this act by its Division Head Central Branch Operations, RENATO Z. SAMPANG, hereinafter referred to as the

..LESSEE".

with the conformity of

FAR EASTERN HARDWARE AND FURNITURE ENT., Inc.,

domestic

corporation duly organized and existing under and by virtue of the laws of the Philippines, with principal office address at Quezon Street, lloilo City, Philippines, represented in this act by its President, TOMAS G. TAN, hereinafter referred to as
the "OWNER". (Collectively, the "Parties")

WITNESSETH:

That-

WHEREAS the lessor is leasing for a period of thirty (30) years, commencing on August 1,2011 to September 30,2041 a parcel of land situated at MH del Pilar Street, l\4olo, lloilo City, covered by TCT Nos. T- 68607, T-73459, T-73460, T-73461, T-73462 issued by the Register of Deeds for lloilo City, from the absolute and registered owner FAR EASTERN HARDWARE AND FURNITURE ENT., Inc., under a contract of lease dated August 1, 201 1, acknowledged before Atty. Oscar Leo S. Billena. A copy of said TCT is attached hereto and is made an integral part hereof as Annex "8". WHEREAS, the LESSOR is the absolute and registered owner of the building known as GT PLMA
NIALL (the "Building"). A copy of the said contract of lease is hereto attached as Annex "C"

j
D

WHEREAS, the lessee desires, and the lessor is willing to lease a portion of the Building, under the and conditions hereinafter set forth:

, THEREFORE, for and in consideration of the foregoing premises, the lessor hereby leases
un-fd the lessee and the latter hereby accepts to lease the leased Premises subject to the following terms and conditions:

1. Leased Premises- The leased premises consist of a portion of the ground floor of the Building, identified in the floor plan, hereto aftached and made an integral part hereof as Annex D, and containing an area of two hundred forty five point thirty eight square meters (245.38 sq. m.), as well as mall parking ("Leased Premises"). The LESSEE shall use and occupy the Leased Premises for the LESSEE's banking business and operations.

2. Lease Term
2.1 The original lease period shall be for a period of ten (10) years, commencing on November 1,2013 and ending on October 30,2023. The Lease Period shall include any extension or

renewal of the Lease.

Renewal of Lease. Upon the expiration of the Lease Period, the LESSEE may renew the same for a perlod of ten (10) years or for other termsi provided, however, that the rentals shall be adjusted in

2.2.

Pase

accordance with Section 3 or as may be agreed upon by the parties. Should the LESSEE exercise this option to renew the Lease, it must give thirty (30) days written notice to the LESSOR prior to the expiration of the Lease Period; otherwise, the LESSEE shall be deemed to have waived its option to renew the lease and the LESSOR shall, therefore, be free to lease the Leased Premises to another lessee. In such an event, the LESSOR shall have the right to exhibit the Leased Premises to prospective lessees during the last month of the Lease Period, provided that prior notice be given to the LESSEE and that the same be conducted within reasonable business hours of a bankino dav.

2.3 Final Extension. Should the parties fail to agree on the terms of renewal or elitension of the lease and lease Period is about to expire, the LESSOR hereby agrees to give the LESSEE a final three (3) months extension to allow the LESSEE to look for and transfer to another site and comply with the regulatory requirement on branch or office relocation. Such final three (3) months elitension and hold-over as may further be allowed by the LESSOR shall be construed from month to month and upon the same terms and conditions as herein contain.
Pretermination. The LESSEE may exercise the right of pre{ermination by giving the LESSOR at one (1) year advance notice in writing. lf pre{ermination happens within five (5) year from the start of the Lease Period, the Security Deposit and Utility Deposit made by the LESSEE shall be forfeited. However, if pre-termination is made after five (5) years from the lease period, there will no pretermination penalty and the Security Deposit and Utility Deposit will be returned without interest within two (2) months from the actual turn-over of the Leased Premises or after all obliqations of the LESSEE have been oaid in full. whichever comes later.
3, Lease Rental

2.4.

the

The rentals are set forth in the Schedule of Rent below. Rents must be paid on or before day of every month at the address of the LESSOR, or with prior arrangement with the LESSOR, by crediting the LESSOR's designated account at Eastwest Bank lloilo-l\4olo Store, without necessity of oemano.
5th

3.1.

of Pesos: Two Hundred Ninety Four Thousand Four Hundred Fifty Six (Php 294,456.00), which

3.2.

Upon the signing of this Contract, the LESSEE shall pay the LESSOR an advance rental

\, \

advance rental shall be applied to the payment of the first three (3) months of the Lease Period, following the Rent-Free Period.

3.3. Escalation. Starting on the second (2nd) year of the Lease and every year thereafter up to the tenth (1oth) year of the Lease, the monthly rental shall be subject to a five percent (5%) annual escalation. The annual escalations shall be based on the rent for the preceding year.
Taxes. The LESSEE shall shoulder and pay for the applicable Value Added Tax (VAT) on rentals upon presentation by the LESSOR of its VAT Registration Certificate. The LESSEE shall pay
{he
rentals, net of wrthholding tax.

t\

3.4.

I
Year
Period Covered Basic Rental

Schedule of Rent
Escalation

e
Wtax 5%
Net Rental 4.907.60
5.1 52.98

YAf

12o/o

Grace Period (60 davs rent free) Application of Three (3) Months Advance Rent
'l

98,1 52.00

11,778.24
5Yo
SYo

20,857.30 20,857.30 20.857.30 20,857.30

105.022 64 110.273.77 115.787.46

121 ,576.83

2
3

103.059.60 108.212.58
113.623.21

12.367.15
12,985.51

5.410.63 5.681.16 5.965.22 6,263,48 6.576.65 6.905.49

7

5% 5% 5% 5% 5%
50k

13,634.79
I 4.3'1

19.304.37 .533.07

6.52

20,857 30
20,857.30 20.857.30

127,655.68 134,038.46 140.740.38 147.777.40 155.166.27 162.924.58

6
7 8 9
10

125,269.59
1

15,032.35 15.783.97 16.573.17

17 .401

3'1

138,109 72 145,015.21 152,265.97

20,857 30 20,857 30
20,857 30

.82

.250.76

5%

18,271 .92

7.61 3.30

Rent-Free Period. The LESSOR hereby grants LESSEE a construction and renovation period, free of rent, for a period of sixty (60) days, upon approval of construction plan.

3.5.

Pase

4. CUSA -LESEE shall pay LESSOR CUSA charges at the rate of of Pesos: Php 85.00 per square meter per month for the entire term of the lease, subject to change in cases of extraordinary increase in inflation, labor and other utility charges as declared and provided by NEDA or appropriate government
agency.

5.

SECURITY DEPOSIT AND UTILITY DEPOSIT

The LESSEE shall, upon signing of this Contract, make a non-interest bearing deposit with the LESSOR equivalent to three (3) months rental in the amount of Pesos: Two Hundred Ninety Four Thousand Four Hundred Fifty Six (Php 294,456.00) to be applied and retained as Security Deposit, and a non-interest bearing deposit equivalent to one (1) month basic rental in the amount of Pesos; Ninety Eight Thousand One Hundred Fifty Two (Php 98,152.00) to be applied and retained as

5.1.

Utility Deposit during the Lease Period, to answer for unpaid bills such as water, electricity, telecommunications and other utilities and for damages on the Leased Premises, ordinary wear and tear excepted, and for the faithful compliance by the LESSEE of the terms and conditions of this Contract. The Security Deposit and Utility Deposit shall, unless forfeited under Section 5.2, be refundable to the LESSEE, without any interest thereon, within sixty (60) days from the expiration of the Lease Period or the termination of this Contract, and only after the LESSEE shall have vacated the Leased Premises, deducting therefrom (i) the amount of any damage to the Leased Premises due to the fault of the LESSEE and (ii) all other amounts that may be payable by the LESSEE under this Contract.
Forfeiture.-The Security and Utility Deposit shall be forfeited in favor of the LESSOR: (a) if the LESSEE deserts or abandons the Leased Premises for ninety (90) successive days during the Lease Period, without any valid reason; and (b) in the event of default under Section 1 1 of this Contract.

5.2.

UTILITIES. The LESSEE shall contract for and obtain in its name all services and utilities and services required by the LESSEE on the Leased Premises and the LESSEE shall pay for all charges for these services and utilities as they become due.

6.
7.

USE OF THE LEASED PREMISES.

The LESSEE shall use the Leased Premises exclusively for its banking business and operations and shall not use the same for any illegal or unlawful activity.

7.1. 7.2.

\ \ \

The LESSEE may lease or transfer its rights to all or any part of the Leased Premises,

subject to the written consent of the LESSOR.

8.

MAINTENANCE. CARE AND REPAIRS

The LESSEE agrees and undertakes to keep and maintain the Leased Premises in a clean and sanitary condition as required by applicable rules and regulations as may be promulgated by
the duly constituted authorities.

8.'1. 8.2.

AII repairs in the Leased Premises necessary to oreserve and maintain the Leased in such good, serviceable and fit condition during the Lease Period, shall be for the sole account

LESSEE. All repalrs outside the Leased Premises, including all structural repajrs, shall be for the
nt of the LESSOR.

The LESSOR or its authorized agent/s or employee/s may, subject to such reasonable as the LESSEE may impose to minimize inconvenience, interruption of operations and when appropriate to maintain securaty, enter the Leased Premises to examine the same, to make the necessary works and repairs for the preservation, maintenance and improvement of the Building and/or the Leased

8.3.

+-

1-

Premises.

The LESSEE shall not bring into the Leased Premises any inflammable or explosive goods or materials, or any article which the LESSOR may reasonably prohibit, or any article which may expose the Leased Premises to fire or thereby increase the flre hazard of the Building or increase the rates of insurance of the Building. The LESSEE shall be held lrable for damages which the LESSOR may suffer as a result of a violation of this section.

8.4.

9. ALTERATIONS, ADOITIONS, IMPROVEMENTS, ETC.

9.1 With prior consent of the LESSOR, the LESSEE may, at its own expense, make alterations, additions and improvements on the Leased Premises, as it may find necessary or beneficial in the conduct of its business. Any and all permanent and fixed improvements made by the LESSEE in the Leased Premises shall become the property of the LESSOR at the end of the Lease Period, wrthout any comoensation whatsoever to the LESSEE.

All improvements and installations which are not aftached or fixed to the Leased Premises, such as but not limited to movable fixtures, furniture, aircon units, teller cages, roller blinds,

9.2.

Pase t4
signages and vault doors shall remain the property of the LESSEE and may be removed by the LESSEE upon expiration and/or termination of this Contract, provided that the LESSEE is not in default in the performance of its obligations under this Contract and that the LESSEE shall repair any damage incurred as a result of the removal and shall return the Leased Premises to the LESSOR in tenantable condition. ordinary wear and tear excepted.

Signages. The LESSEE shall be allowed to put up and maintain, without additional compensation to the LESSOR, its own business and advertising signage/s in or outside the Leased Premises of such design as the LESSEE may determine.
Business Permits and Compliance with Government Regulations. The LESSEE shall secure on its own account all permits and licenses as may be required by the national and/or local authorities in connection with its business and the use of and the making of additions, alterations and improvements in the Leased Premises. The LESSEE shall comply with any and all supplementary rules and that may hereafter be promulgated by the duly constituted authorities of the national and/or local government regarding the use, occupancy, security, and sanitation of the Leased Premises.

9.3. 9.4.

10. INSURANCE
10. The Building and/or Leased Premises shall both be always adequately insured against fire by the LESSOR at its own expense with a reputable insurance company, In case ofthe occurrence of fire and the subsequent damage to the Building and/or Leased Premises, the LESSOR shall use the insurance proceeds to immediately repair/construct the Building and/or Leased Premises to restore the same in the same condition prior to the fire. However, if the LESSEE, its agents, employees, or visitors is determined by the courts after final judgment to be the direct cause of such fire, the LESSEE shall reimburse to the LESSOR the reasonable costs of restoration of the Leased Premises.

1.

10.2. The LESSEE, at its sole expense, shall adequately insure its improvements in the Leased Premises and the contents therein with a reputable insurance company during the term of this Contract.

11.

DESTRUCTIONORUNTENANTABILITY

Leased Premises are totally destroyed or rendered wnolty\\\ untenantable for the purpose intended, due to force majeure or a fortuitous event, whether rnsured \\-r-...-\ against or not, this Lease shall be deemed ipso facto extinguished, the obligation of the LESSEE to pay rentals shall immediately cease, and all advance rentals and Security Deposit paid by the SUBLESSEE shall be immediately returned to it by the LESSOR.

11.1. ln the event that the

t\\

11.2. lf the destruction or untenantability of the Leased Premises is partial and/or temporary, the LESSEE shall have the right to choose between a proportionate reduction of the rental or the termination of this Lease. The proportionate reduction shall be negotiated between the parties, giving
substantial weight on the effect of such destruction suffered by the LESSEE in its business or operations. the LESSEE elect to terminate this Lease, the LESSOR shall return to the LESSEE all advance and Security Deposit paid to and received by it immediately upon demand by the LESSEE.

1.3, lf the Leased Premises are partially destroyed or untenantable due to force majeure or a event and the Lessee opts to continue with the Lease with a proportionately reduced rental, the undertakes to apply whatever lnsurance moneys it may recover for the prompt repair or of the Leased Premises with the objective of restoring the same as closely as possible to its original condition prior to the damage or destruction.
1

Y t\
>--\\
I

12.

EVENTS OF DEFAULT. The LESSEE shall be deemed in default within the meanino of this

Contract:

\ { 1

12.1 In case the LESSEE fails to fully pay on time any two (2) consecutive monthly rentals under this Contract. 12.2 fhe LESSEE deliberately and intentionally violates any of the terms and conditions of this Contract and such violation remains unresolved after due notice from the LESSOR.

12.3 The LESSEE abandons or is deemed to have abandoned the Leased Premises under Section 4.2 (a) of thjs Contract and LESSEE fails to respond within thirty (30) days to LESSOR's written notice.
CONSEQUENCES OF DEFAULT. In case of default of the LESSEE and such default continues for thirty (30) days after written notice thereof to the LESSEE, then: [1] the LESSoR may terminate this Lease without the need of any judicial action and; [2] the Security Deposit and Utility Deposit shall automatically be forfeited in favor of the LESSOR. Notwithstanding the termination of the Lease, the LESSEE shall remain liable to pay rentals and utility charges until such time that the Leased Premises are actuallv vacated bv the LESSEE.

13.

'14,

REPRESENTATIONS AND WARRANTIES OF THE LESSOR.

14.1. The LESSOR warrants that it has full power and authority to lease the Leased Premises and that the same as free from all liens and encumbrances of any kind whatsoever. The LESSOR warrants that the lessee shall enjoy full, continuous and peaceful possession of the Leased Premises for the entire period of lease lncluding any renewal thereof. The LESSOR warrants to forever defend the property/leased Premises in favor of the lessee, its successors and assigns against any and all claims, demands or suits that may be instituted against the LESSEE, its successors and assigns by whomsoever, judicially or extraludicially.

14.2. The Leased

Premises are under good and tenantable condition,

fit for the use and

purpose under which this Contract is entered into; that the Building and the Leased Premises do not suffer from any structural defects and deficiencies as to render them unfit for their intended purpose; that they shall be preserved, maintained and kept in good and tenantable condition during the Lease Period;
14.3 The Property and the Leased Premises are free and clear of any liens and/or encumbrances of whatever nature and are not subiect of and/or involved in anv suit before anv court or administrative oo0y;

14.4 The Property and the Leased Premises are devoid and free of all squatters and illegal occupants; that the LESSOR shall maintain the Property and the Leased Premises to be so free and clear of such squatters and illegal occupants during the Lease Period.
14.5 The LESSEE shall have peaceful and uninterrupted possession, use and enjoyment of the Leased Premises during the Lease Period; thatthe LESSORshall notalienate, encumber in favor of third parties the Leased Premises or otherwise enter into any contracts or agreements with such third parties involving the Leased Premises without ensuring that the LESSEE's right and privileges under this Contract are respected, honored and protected by such third parties during the Lease Period;

14.6 The Building and the Leased Premises conform in all respects to the principles of saf construction; are suited to the purpose for which the Leased Premises are designed and for which the are leased, and comply, and continue to comply, in all respects with prevailing laws and regulations, including the National Building Code of the Philippines.
14.7 LESSOR shall keep easements and sidewalks directly in front of the Leased Premises free from any and all permanent and non-permanent structures, vendors and occupants which limits tne visibility and accessibility of the Leased Premises; 14.8 LESSOR shall defend its title over the Property, including the Leased Premises, against any and all claims of third parties and shall absolutely and unconditionally hold the LESSEE free and harmless from any and all damages, losses or injuries that LESSEE incur, suffer or be held liable for in with or arising from any such third-party claims;

14.9 Should the LESSOR sell, transfer, assign, mortgage, alienate or otherwise dispose of the and/or the Leased Premises, the LESSOR shall secure the mortgagee's, vendee's, transferee's, 's prior written consent or agreement that they shall respect and comply with the terms and conditions of this Lease, honor the LESSEE's rights hereunder, and allow LESSEE continued and peaceful Dossession of the Leased Premises for the Lease Period:

15.

LIABILITY

15.1

The LESSOR shall not be liable for any defect or change in condition in the Leased

Premises or the Building or Property nor for any flaw in the electrical connections nor for damage due to water or rain leaking into any part of the Leased Premises, unless such defect, change of conditions, flaw or damage may have arisen from the willful act, fault or negligence of the LESSOR or their agents or any such defect, change of conditions or damage is attributable to the Property or the Building. ln the event that the Leased Premises shall become untenantable or unsuitable for the normal conduct of business of the LESSEE due to such defect, flaw or damage, the LESSEE shall have the right to terminate this Contract. lf such damage shall have occurred by reason of the negligence or willful act of the LESSEE or

any of its officers, employees, agents or visitors, LESSOR shall cause the repair of such damage for account of and at the expense of the LESSEE.

15.2. The LESSOR shall not be responsible or liable in case of any accident or injury to the LESSEE, its officials, employees, visitors or goods, or to any persons or persons in or about the Leased Premises unless such accident or injury shall be attributable to the fault or negligence of the LESSOR, its employee/s or agenvs or any such accident or injury is attributable to the Property or even the Building. The LESSEE shall indemnify and save harmless the LESSOR from all fines, suits, proceedings, claims, demands and actions of any kind or nature brought or imposed against the LESSOR in connection with the occupation or use of the said Leased Premises or any part thereof by reason of any breach, violation, or non-performance of any covenant or condition imposed upon the LESSEE pursuant thereto.

Pase l6

15.3. The LESSOR shall not be liable for any damage nor shall this Contract be affected nor shall there be any abatement in the payment of rental by reason of any failure of water supply, electrical current, or other service equjpment unless such failure shall arise from the fault or negligence of the LESSOR; provided however, that the LESSEE shall have the option to rescind this Contract in the event that such failure shall make the LEASED PREMISES unsuitable or untenantable for the normal conduct of business of the LESSEE. 15.4. Subject to the same provision, the LESSOR shall not be liable for any damage, nor shall this Contract be affected nor shall there be any abatement in the payment of rental by reason of any curtailment of or interference with utility facilities by anyone other than the government agency in the construction of any public or quasi public work. 15.5. The LESSEE shall indemnify and hold the LESSOR free and harmless from, any claim or demand by the third persons for injury, loss or damage, including claims for property damage resulting from any accident on the Leased Premises or occasioned by any nuisance made or suffered on the LEASED PREMISES, or by any fire hereon or growing out of or caused by any failure on the part of the LESSEE to maintain the Leased Premises in safe, sanitary and secure condition or by reason of the LESSEE'S violation, non-observance or non-performance of the rules regulations ordinance laws issued by a government instrumentality and other conditions of this Contract concerning or affecting the Leased
Premises.

for public use or purpose by the government or any of its instrumentalities or by any public service company, the LESSEE shall have the right to terminate this Lease, without any liability, upon written
notice to the LESSOR. The LESSEE shall pay rent up to the time it vacates and surrenders possession of the Leased Premises. Any excess rental paid by the LESSEE in advance and the Security Deposit shall be returned by the LESSOR to the LESSEE immediately upon demand. lf the expropriation is partial, the LESSEE may elect to continue possession of part of the Leased Premises which is not so expropriated and LESSEE shall be entitled to a proportionate reduction of rent, to be mutually agreed upon by the pa(ies.

16.

EXPROPRIATION. lf the LEASED PREMISES or any part thereof is expropriated or condemned

RETURN OF THE LEASED PREMISES. Upon the expiration of the Lease Period or upon the termination of this Contract as herein provided, the LESSEE shall immediately and peacefully return to the LESSOR the possession of the Leased Premises in as good, clean, and tenantable condition as when the LESSEE received it from the LESSOR. save reasonable and ordinarv wear and tear. lf the Premises are not surrendered at the expiration of the Lease Period or upon the termination of Contract, the LESSEE shall be responsible to the LESSOR for actual damages which the LESSOR
suffer by reason thereof.
18.

17.

GENERAL PROVISIONS.
18.
1 . Entire Agreement. This Contraci constitutes the complete statement of the terms and of the Lease between the parties. No statement or agreement, oral or written, made prior to the

hereof, and no prior conduct or practice of either party shall vary or modify the terms and conditions

in this Contract. No amendment, modification or revision of this Contract shall be valid and unless the same is in writing and mutually agreed to and signed by the parties.

A
l\
I

!*

18,2. Consent. Whenever prior written consent or approval of the LESSOR is required under this Contract, the same shall not be unreasonably withheld by the LESSOR. Should LESSOR not act on LESSEE'S request for consent or approval within thirty (30) days from receipt of request, consent shall be deemed granted by the LESSOR and the LESSEE shall proceed to act as if prior written consent or approval has been given by the LESSOR.

.1.

18.3. Taxes and Assessments. All taxes and assessments that may be levied on the Property and on the Leased Premises shall be for the account of the LESSOR. All taxes and assessments that may be levied on the improvements introduced by the LESSEE on the Leased Premises shall be for the account of the LESSEE. 18.4. Waiver. The failure of the LESSOR or the LESSEE to insist in any one or more instance upon strict compliance to any of the covenants of this Contract, or to exercise any option herein contained shall not be construed as a waiver or relinquishment for future violation of such covenants or future exercise of such option, but the same shall continue and remain in full force and effect. The receipt of the
LESSOR of the payment by the LESSEE of the rent despite knowledge of the breach shall not be considered as waiver of any provision hereof. No waiver shall be deemed to have been made unless expressed in writing and signed by the LESSOR or the LESSEE, as the case may be.

18.5. Binding Effect. This Contract inures to the benefit of, and is binding upon, the successors and assigns of the parties hereto.

Page l7

18.6. Severability, lf any provisions contained in this Contract shall be declared invalid, illegal or unenforceable in any respect under any applicable law, the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired.
Notices. All notices required or permitted under thrs Contract shall be in writing and shall 18.7 be sent by personal delivery, registered mail, facsimile (immediately followed by the hard copy), or electronrc mail (immediately followed by hard copy) at the address set forth at the beginning of this Contract, unless notification in writing of change in address is received by the other party.

lN WITNESS WHEREOF, the Parties have signed this Contract of Lease on the date and at the place first written above.

INTERNATIONAL BUILDERS CORPORATION

Lessor
By:

EAST WEST BANKING CORPORATION Lessee

By:

ALLAN RY
Vice Estate and Land Dev't.

RENATO
Head

Branch ODerations

With the conformity of

AIEAND

FURNITURE ENT., Inc.,

SIGNED IN THE PRESENCE OF.

Jton

Page l8
ACKNOWLEDGMENT

8;ft?'""f[,lW'.*l
BEFORE

ME

this

their government-issued identification document, to wit: Name

Notary Public .tfP _ day of U L

{n the
t

jurisdiction the City of persons with the following appeared 9

Exoiry Date

of

lD No.
SEC1 Reg

INTERNATIONAL
BUILDERS CORPORATION ALLAN RYAN L. TAN

iFtration

/ No.

Passport'P;.*o**;zo:,*

Febrnary

2r,

2O1,

known to me and to me known to be the same persons who executed the foregoing Contract of Lease, and they confirmed that the same is their free and voluntary act and deed, as well as the free and voluntary act and deed of the entities they represent.

This Contract of Lease, consisting of nine (9) pages, including the page on which this Acknowledgment is written has been signed by the parties and their witnesses on each and every page.

Doc. No. Un : Pase Book No. l(lll

No.lf:

series of

2-6r-?.

\\ \

N',
\)

j
i-------..

\)

Page l9

ACKNOWLEDGMENT

Republic of the Philippines)

city of MAKATI

CITY

BEFORE

i\LdKATt

CITY

ME , a Notary Public for

this

oay

ot

NOV

and . _within the jurisdiction of the City of i t 2013 , appeared the following persons with
ExDirv Date

their government-issued identification document, to wit: Name EASTWEST BANKING

lD No. SEC Registration / No. 45094002733 SSS l.D. No. 03-6236171-7

CORPORATION RENATO Z. SAMPANG

known to me and to me known to be the same persons who executed the foregoing Contract of Lease, and they confirmed that the same is their free and voluntary act and deed, as well as the free and voluntary act and deed of the entities they represent.

This Contract of Lease, consisting of nine (9) pages, including the page on which this Acknowledgment is written has been signed by the parties and their witnesses on each and every page.

Doc. No.

Page No. 29 ; Book No. Zoa4 Series of 2019.

&;

NOTARY PUBLIC

31,201J

, ih

/ l8P Lifetime No. No. 3676486, ianuary lO. 2O13, Makali Cit'/

amo

T-\
\,

\. \

| .tuDicrAL FoR^l No,

O9-U (Revised Januaiv tSBs) ''

I

:-'f.,, :*,

'

.//ctAL FoRM No, I09-D ,rrtevised January 1985)

p""i,...4..2..
ragi...::..Ce,(

,JIAL

.-.({d\,-iscd J

Rrr No. 101)-l) ua ry J 985)

linll
Ito gc

'No.

498692
NA-1"ioN,\
|

Ii

IiI't]I} i,IC t}II

AI

1'I

t:it Il l. ( ) ll .J LrS.t r(]ri I^1.'l) I I I t.tis ,\ i.ll) I_rt:t:lls R[Cls f R.,\. C)t.] 1.1)LtNls ( 1-l! rr rr r\,tr( n11 irl rrrliorr (irrrrr rrrigs io
IN

Ii PI.IILiPPINtrI]

IlIir;lsl li \ |

j..

ll,t)ILtt,.tt,,

rr

Or;irrgfr:r (4r,r.lifir.rrfc of Oif

1.\0_ I . ' --./.Ia,/ I
..r'. . lil1.tr

,ir

ts ltt:,

F
Q

iJ

-t 5.1
C)]

2-2115 t t:o itrt! a "".,i:;;l;i':"il;,iruiti:l r'i,Jul'i'inr"",il.rdJil liJ?l"t;; ,, LIC CndJ R c. .#;;l# ?i.,i,,:ti:: ;i, ii'; i'; j ; ;;## i lir';i" rrl of l'aiuy, ' i ljjf t plnn; pol:rto )' ,n tr,,' r;ri.,'p;,,,';,,4 ro'i bv ti nd; ,*rllrPrtij *t13',jl;it"..:''lJl on tho Sh,., '#'ii:;r3 ;:,,: u;,,'ii,,i,l.",1.:l;: ::,:,;,;,;i;';I i,i;il,",,lu"i,,",,,1,1 ill . I)oints 6 to I ' bo:in'( I{, 89 ur, j:o: l o::',, ie8. ao ; l" i; J'3iili' ilf.',,',',,ili,i j il,;1 u,,,1, 1 .1".1, 17 d stl. 19tE. r ? ',,1rl#lgi"t*t,iiii.;di11!fu

porillon or rho c:on$rri

r, ;l;*Tjli il::.l*l i,l'rl"

t,,i t1t,tr)ttj,r) 1,. +.lp1)in(iir

t't l';"1 'tttt'tr"! tt rJt'

o1
.

0I?) (r[ ]L

;,

:;]

F
(J
'_')

r'l

' irtlioot,

or,ijsniaod {!r(l
-l

4.

,,.,,i]11,,. , 1. ..totrl ltttt(C tt\,,1,)r l t,.:,1,,t.t,,t,. : ,/,. ,\

' iol1o {;itf , !,lri.J j..1.irrr,;. ",. r)t(tco/ rtr lt v,1,1,.. \t )11,1, . tlt,tt.,t " ltjt t I r,, t,, rrt rrt it i: ,,1 ,,t rt,. ...., tlt, r tt, r:rtl,ttDtct,.t
--

oy-L,r

5, jt'::* thoaco ;rurt,*"*i:',ff on, duly ri"rr ,,,,ro. iii;;i,,,i;,;.i.,, -. ;;.:iii"'"il,,::;,I;i,':

t,,tttiottr,rl

n1 {ttc nat)tc of

26

f'lce i-n nuoi, on

3.1
|

Jl

al
plr

IT

z
a)

;::t
ryJllffj- t,,;;i,/,;

'l Rr:

Lho ( it;. <r . (.) t 't t.ttt t't,t, r r,t, ..1l.t.y ,tar .,f .... t llL _t! t tttDtteatr hnttte,l itt,,t tt Yi )/, ttl |t
t.n!,

t,,i

,.,

.:Y

,,\rll

l,

..

...i. 11o
,rc t.L\..; .. l-h^ oiDLc, r f ^i . r ,r,rt ^(,R.gi.\tct ul Lv 0f tc rlrl llor: r1 .t..r,,.. ,,..I Jrr;rrJirLJ, rrlc il :r rrrl.or, aliia",,.t,if-n,i,i ., I owncr. It lrrc ,. rs rcsrclcnce rtrn o" ...,rl of -.,,,,." r,r' thc \ r ,r;r irLl ,,,,,,,,,', .,,,i" ;i;;,'';il":i,,:l,i:;il;":iii:i 1.,":::l:' :SrslcIcd (ltc,ti |lc (lJ tJrc co rjUgirJ I )l I llcJ st) \lit{c lr usL)and, lf, thc r li
In, rlrc cirrzcrrslrip ol.both r,pouscs. (Otr cr s to:rrI r,j(t..\J)

rcglstc

lxnd

is

'I

sNrN"
fl/

ll l/
ll

t, i
i

ii:::'

1.n.u*ll^s,f,f,Jx[f11p;':T
|

r.{.rrroN,,\r

\Nr)

lr.rls,n^-,_,,,t":r,,-:.rnii,,iii.n,,u",itt)irlNlS.r.

I j
j
!
:

li

(]4rrrrl .Iir,rlintrrriiorr (irrruruinrio:r) Iii;{irslni ()r. l)r;r.,)r.i i.{rri rir.. )!r)tl:t):1..: :.

fr,r't'rc.r.r,r
I

(!.r.lrrrri

[r,r (]r,i"lif ir ;rtt of (V.rtL) -L,l tr:t,:1,..t-7sl

'

\'lt,itil;;1$",lrrr'' J /";/ "':: :'; i',,'t 't,,,,,

.l

i:,.,tttt,i,.,!,:u,l ,,,t,,

LJ:rlr

0l

,,,,i'lrlil'il',,il
,:jl:

,'il ;':t;;'r]3.t'',;;i;;, :. 1:r,7i,lii,l,g,T,);')),'',,,1;,,],j';,rli,i,i,,,7,,nlilil,i::,t

:

i i :, ,,{. ,"ri; fli];',;,,',i.1 intp !j to 6 bJ r_Lln; nnl on i'-:.,;n,tii,,i ,' ;,"'i il,'r, '' I r;. I I, " ' ''-'^ ; ;,;ti L ntrkod "1" on pia,, r,-inr r'. ;r','1"'

x3;,,1'iJ:l'l; ;1.'',i!:,:, ,i,''.:-'i:jli ,1ll,,lil;

boine o l;ll.,li ,',:.,"1, l:t,,;,1,;;;,,1:;,l.,il;l Il,:;1,,;:l .Z?lLli, , Llt0 Cad. tiec.

tlrtt.ttl,t.,i,tr ,,. ,,t|t

lltoll] ,L)

'

,'i,l'l
r-'

L ,: r it\,, t

nd of !r,mqy. 1';i.r,i;;l;;,rl_,*-;l ib:ii".r;;;l ,.! by

Do

1299

o
l

i;l

thol
I

UI
U

,;r"iiJf

ixl,ilitil :J,ii^l'l;"'',,,,,,;",;,,;;; -ii,,i

,

i'n"i)ii,i,'ri,,i ,,,,., r,,",-.

11,;,;';r;il,,lii, li:;il ,,57t;,)!,,,L; ,!f, P ll co:. rio,-, h1 on, ttly i,lrf, ,'l;;, illi. i": i,;ir" prlnitl;rt "" oi'l i cc :Lrr tlLrerc.rrr
:]
1l]

)trlo Cn.1., i;hopf

lA IE

J )
U) r:J

,1

r"',,1

.\ltrt,,tt .t,l

t,/

/E

.fls

]E
tas

,t

')

:.

1i..

.i,..

'' fo| tlio:

rcgis{c lr rrd, is

'"Stir j lltc ctftl. !lituJs, tlrLItc rrl r.jrorl5L. rr It;tjIr(.{I, .9rvnc,r, ll. tltc orvrrcr is, ir ltarrictl rrrrrlirrr. lSlcfc(l lll ti)c rrerrrc of tJrc irl|jrrrlrrl partrrerslti|], s

i<li

lcc cf

'i

thc

rsDiutd. ll (lrc

ll
CONI'I{ACT O}'LOASE
I(NOW AI,I, MEN BY TI IESES I'RIISEN-I'S:
This CONTRACI'OF LEAStl, nra<le arrd e.reculed by arrd bers,een:

FAlt llAS'fERN IIARI)\\,'Atlt: ANI)

FI,rRl..lt't

tJltE

EN

domestic corporation duly orgarrized arrd existing under and by i,inrrb of the laws of the Republic of the Philippines rvith business ollice at euez6n Street, IIoilo City, Philippines, represented in tlris instrument by its president,l fttMAS G. TAN, hereinafter referred to us the I,ESSOR.
..

t'.,

iNC..

ir

anrl i

IBC INTIIItNATIONAt, BUTLDERS CORPCIRA'f tON, a domAsric corporation duly organized and existing under and by virtLre of the laivs ol the Republic of the Philippines wirh principal office sinrated in the citylof lloilo. Philippines, represented in tltis insrrumenr by its General Manager, aLFONSO

\ \

G. TAN, hereinafter referred ro as rhe

LESSEE;
!q

w Ll- l'l ti s

l: M;

WHEREAS, the LESSOR is lhe true and larvful owner of l_or t; 2; 3;4 & 5 covered by Transfer of I'irle l\lo. T-68607: 1'-73459; l'-711460; T73461 & 'f-73462 located at l\,1.1L Del pilar Sl.eer, Brgy. poblaciolr, Molo, Iloilo City. Philippirres: WIIEREAS. the l-llSSEIl is desirorrs ol leasing thc ab,rve-rr!enrioncd proprty, and the LESSOR is rvilling to lease rhe sanrc ro (he I_LSSEE lLrb.iect ro the terms and conditions hercinalter specilicrl;

NOW, TIIEILEFORE, for and in consideration of tlre lease of a commercial space and of mutual covenants and stipulations hereinaftel set forth, the parties have agreed, and by these presents do hercby agree and stlpulute as follows: l'

l. 2.

flre tertn of tlre lease shall be for a periotl of tlrirty (b0) starttng August I . 201 I kr Seprcnrber 30, 204 L

1.ears

l'he LESSEE shall pay the I_ESSOR a rnonthly rental jof leased premises in accordance with the schedule of rentals bav*.nt.
Irererrndcr

a\
3.
4.

stated,

: '

Year cars 2"o tel ( l0) years J'" ten ( l0 t years

l''
ten { | 0} l

Anrount
p20,00{r.00 p10.000.00 p40.000.0()
I

Upon the xecution of this conracr, rhe LESSIjE shal! pay and deliver to the LESSOR tlre anrounr of pEsos: i ronry TIIOUSAND PESOS & 00/100 ONt.Y (P40,000.00). phitippine Crrrrency, r'eprcselting the requirecl t\\,o (2) nlorrths deposit.

'l'he l-tsSSEE shall prrt up improvcnrerrts that $.ill srjir fbr

brrsiness rvhich is conmercial space rentals.

its

5.

]'he LESSEE shall not tlir,-'ctl) Ur i dilcctl-v ssign. transl'er or sublease.its lease right to thc \\tolc portion onll.iof the leasec
premise rvitlrout prior rvritten consent ot tlrc

L[SSOli:

The LESSOR shall, tlur.ing the period ol tlris lease, pay ta4cs and/or assessmc,rts that nra;,be inrposed on the lalrd arrd buildingj