CONTRACT OF LEASE

KNOW ALL MEN THESE PRESENTS:

The Contract of Lease executed and entered into on ______________ at Davao City, Philippines,
by and between:

WILMAR E. AL-AG, of legal age, married, Filipino, and a resident of Toril, Davao City,
Philippines, hereinafter called the LESSOR.

- and –

______________________, a duly organized corporation under Philippine Law, represented by

___________________________ and with principal office at Davao City, Philippines, hereinafter
called the LESSEE.

W I T N E S S E T H:

WHEREAS, the LESSOR is the registered owner of a parcel of land located at Barangay Bato,
Toril District, Davao City, Philippines;

WHEREAS, the LESSOR has offered for lease the aforementioned property and the LESSEE is
willing to lease the said property under the terms and conditions hereinafter set;

WHEREAS, the LESSOR hereby leaves the property unto the LESSEE, who accepts the said
lease;

NOW, THEREFORE, premises considered, both parties hereby agree to the following terms and
conditions set forth herein-below:

1-TERMS OF LEASE

The duration of this contract is for a period of two (2) years renewable at the option of the LESSEE,
to commence on _______________ and shall expire on ____________________.

Should the “LESSEE” decide not to renew the lease he shall notify the LESSOR in writing within
thirty (30) days prior to the expiration of the contract. However, an automatic renewal of this
contract shall be effected under the same terms and conditions of the original Contract of Lease
should the LESSEE not give notice to the LESSOR.

The LESSOR is obliged to maintain the LESSEE in the peaceful and adequate enjoyment of the
lease for the entire duration of the contract.

2-RENTALS

In consideration of the lease, the LESSEE shall pay the LESSOR at the start of the lease, a monthly
rental of Forty-Five Thousand (Php 45,000.00) Pesos, for the entire duration of the initial period
of this lease (VAT inclusive).

The Advance deposit applied to the monthly rental of the said space, shall be for one (1) year, or
for a total deposit of Five Hundred Forty Thousand (Php 540,000.00) Pesos.
The monthly rental is payable every 1st day of each month.

Any increment of the lease rental shall be subject to the agreement between the parties and shall
take effect only on the renewal period of the lease.

3-UTILITIES
The electric, water and communication bills shall be borne by the LESSEE.

4-MAINTENANCE
The LESSEE shall maintain the subject premises (“as is, where is”) in such a condition as to render
it for the case intended.

If during the lease it should become necessary to make some urgent repairs extensions and
renovations upon the property leased, the LESSEE shall immediately inform the LESSOR.

The LESSOR allows any alterations or improvements introduced by the LESSEE without the
consent of the former provided that no damage upon the thing leased; and all alterations or
improvements shall be dismantled and for the account of the latter upon expiration of the contract.

The LESSEE agrees to restore the leased property to its original conditions or to pay for any and
all damages to the property caused by the LESSEE, provided that it can be clearly shown in the
result of the investigation that the LESSEE was negligent in the care of the property leased.

The both parties shall comply faithfully with all the stipulated stated in this Agreement in order to
maintain the validity of the herein subject contract;

IN WITNESS WHEREOF, we hereby set our hands this ______________ 2017, in Davao City,
Philippines.

WILMAR E. AL-AG _________________________

LESSOR/OWNER LESSEE
ID: ID:

SIGNED IN THE PRESENCE OF:

_______________________AND_______________________
 ACKNOWLEDGMENT

REPUBLIC OF THE PHILIPPINES)

CITY OF DAVAO) SS
x------------------------------------------x

BEFORE ME, a Notary Public for and in the City of Davao, Philippines, came appeared and
represented to me affiants, with their respective identification cards indicated below their
respective names, known to me to be the same person who executed this Agreement and
acknowledged to me that the same is their free own act and voluntary deed.

WITNESS MY HAND AND NOTARIAL SEAL, on the date and place first above written.

Doc. No. ______

Page No._______
Book No. ______
SERIES OF 2017