CONTRACT OF LEASE

KNOW ALL MEN BY THESE PRESENTS:

This agreement is made and executed by and between:

__________, of legal age, Filipino, married and presently residing at

____________________, herein referred to as the LESSOR;

- - and - -

__________, a corporation duly registered under and by virtue of the laws of

the Philippine laws, engaged in printing, advertising, and leasing, represented by its
President, Mr. __________, of legal age, Filipino, married and with office address at
____________________, hereinafter referred to as the LESSEE;

WITNESSETH:

WHEREAS, the LESSOR is the registered owner of a parcel of land located at

__________, covered and particularly described under Transfer Certificate of Title No.
__________, and briefly describes as follows:

“A parcel of land (Lot 1-A of the subd. plan Psd-03-

139753, being a portion of Lot 1, Block 1 (LRC) Psd-88112,
LRC Rec. No.), situated in the Barrio of Pulung Maragul,
Angeles City. Bounded on the SE., along Line 1-2 by Lot 3,
Block 1 (LRC) Psd-88112; on the SW., along line 2-3 by Lot
2, Block 1 (LRC) Psd-88112; on the NW., along line 3-4 by
Road Lot 1, Block 1 (LRC) Psd-88112 (10:00 m. wide); on
the NE., along line 4-1 by Lot 1-B of the subd. plan. x x x
containing an area of __________ (_____) sq. m., more or
less. x x x”

WHEREAS, the LESSEE has offered to lease a portion of the above-described

real property to the extent of four (4) meters in width and 24 meters in length, or a
total land area of 96 sq. m., more or less, adjoining the Pandan Bridge, free from any
obstruction of any kind wherein a steel billboard frame stands which shall be available
for lease to third parties for outdoor advertisement;

NOW, THEREFORE, for and in consideration of the above, the LESSOR hereby
conveys and transfers, by way of lease, unto the LESSEE the aforesaid described
property, subject to the following terms and conditions:

1. The duration of this lease shall be for a period of TEN (10) years
commencing on 1 March 20__ and expires on 28 February 20__, subject to
extension/renewal upon mutual consent of both parties;

2. The monthly rental for the leased property shall be in the sum of THIRTY
THREE THOUSAND PESOS (Php33,000.00), Philippine Currency, which shall be the
monthly rent for the first Five (5) years of this lease. However, on the Sixth (6 th) year of
the lease, an increase of Ten (10%) per cent shall be added on the monthly rental or in
the sum of THIRTY SIX THOUSAND THREE HUNDRED PESOS (Php36,300.00),
Philippine currency, which shall be applied on for the remaining term of the lease. Upon
signing of this contract, the LESSEE shall advance to the LESSOR the difference in the

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Security Deposit in the amount of EIGHT THOUSAND PESOS (Php8,000.00), and shall
pay an advance monthly rent equivalent to ONE (1) month’s rent. Note that the
LESSOR shall refund the security deposit, without interest, upon the expiration of this
contract, if not renewed/extended, the LESSEE has the option of applying the security
deposit as rent for the remaining month of the lease;

3. The leased area shall be devoted for a steel billboard frame which the
conducive for accommodating outdoor billboard signs/advertisements of third party
clients of the LESSEE, subject to terms and conditions the LESSEE and the third party
client may deem appropriate thereof. It is understood that the LESSOR has no right
whatsoever to approve, modify, alter or oppose the contract entered into by and
between the LESSEE and his third party client, provided it does not prejudice the terms
and conditions of this contract;

4. The LESSEE shall bear all the expenses in the maintenance of the steel
billboard frame. Upon expiration of this contract, the LESSEE shall dismantle the steel
billboard frame which expense shall be for his own account. However, in the event the
LESSOR desires to attain ownership of the steel billboard frame from the LESSEE, the
LESSOR must provide the LESSEE the exclusive right to extend or renew this lease
contract for no less than five (5) years from its expiration. The LESSEE agrees to pay an
additional 25% of the then current monthly rent. Upon expiration of the
extended/renewed lease contract, the LESSEE further agrees to turn over full ownership
and control of the steel billboard frame to the LESSOR. If the LESSOR opts not to renew
this lease contract, the LESSEE as the owner of the steel billboard structure may
remove or cause the removal of the steel billboard frame. Such right to dismantle and
remove the steel billboard structure also extends to LESSEE when the LESSOR pre-
terminates this lease including but not limited to the conveyance of his property to a
third party. It is understood that the steel billboard frame does not integrate to or forms
part of the real property of the LESSOR;

5. The LESSEE shall have the right to improve or resize the steel billboard
structure, or introduce an additional steel billboard structure, provided it does not
exceed the specified leased portion. The LESSOR shall in no way construct or allow any
third party to construct or obstruct the steel billboard frame of the LESSEE thereby
detrimenting the rights of the latter. This is understood to include the existing billboard
frame of the LESSOR adjoining that of the LESSEE;

6. The LESSOR further agrees to limit the size of his existing billboard frame or
that of the LESSOR’s assigns engaged in the same business of the LESSEE and shall not
exceed six (6) or 20 feet in height from the ground level, and six (6) meters or 20 feet
in width. In any event, the LESSOR or his agents or assigns shall not obstruct the
billboard structure of the LESSEE;

7. Furthermore, the LESSOR or that of his agents or assigns, shall not attach,
connect, weld, hang, rest or support their billboard frame structure with the billboard
structure of the LESSEE;

8. The LESSEE is responsible for securing and protecting the billboard structure
including the AD material from any form of harm, damage and other similar incidents.
The LESSEE shall be solely in charge of installing, dismounting (rolling up & down) the
AD material, including but not limited to typhoons, or incidents of similar nature. The
LESSOR shall not, by any means, interrupt the LESSEE from installing or dismounting
the AD material. Any damages or injuries sustained by the LESSOR or his agents or
assigns, due to his disruptions shall be for his sole account. However, damages or

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injuries sustained by the LESSEE or his agents, or workers within the leased premises
or caused by the structural building, the LESSEE shall be solely responsible thereof;

9. The LESSEE agrees to conform with provisions of local or national laws,

ordinance, rules and regulations pertaining to permits, licenses or agreements relative
to (outdoor) billboard advertisements and to its print business;

10. The LESSEE has the exclusive right of rescinding or terminating this
contract on the following grounds, but not limited to: losses, local or national
government interference, obstructions, acts of God, or other similar incidents. LESSOR’s
breach of any of the provisions of this lease contract entitles the LESSEE to rescind this
contract and for remuneration of damages in addition to attorney’s fees;

11. Pending the duration of this Lease Agreement, the LESSOR shall not
engaged in any business, for himself or members of his family, or enter into any kind of
agreement, with persons or entities outside of this contract, that is similar or is in direct
competition with, or that would contravene/impair the LESSEE’s outdoor billboard
advertising & print business. This prohibition shall further apply upon the expiration of
this contract which shall be enforceable for a period of FIVE (5) years therefrom. The
LESSEE is entitled to seek for the rescission/cancellation of any contract entered into
by the LESSOR that contravenes/impairs/obstructs the billboard advertising & print
business of the LESSEE and is further entitled to damages in such amount as the court
may deemed to adjudge;

IN WITNESS WHEREOF, the parties have hereunto set their hands on this _____
day of _______________ 2019, at Angeles City, Pampanga, Philippines.

XXXXX XXXXX
Lessor Lessee

With my marital consent: By:

____________________ XXXXX

Signed In The Presence Of:

1. _____________________ 2. _____________________

REPUBLIC OF THE PHILIPPINES )

IN THE CITY OF ANGELES )SS

BEFORE ME, a Notary Public in the City of Angeles, this _____ day of
_________________________ 2019, personally appeared: _____ - ________ and
_____ - __________, both having satisfactorily proven to me their identities that they
are the same persons who executed the foregoing Contract of Lease and acknowledged
that the same is their free and voluntary act and deed.

WITNESS MY HAND AND SEAL.

NOTARY PUBLIC
Doc. No. _____;
Page No. _____;
Book No. _____;
Series of 201_;