CONTRACT OF LEASE

KNOWN ALL BY THESE PRESENTS:

This contract of lease is made and executed in the City of Taguig, this day of March 20, 2017, by
and between:

Mr. Earl Mark Johnson C. Santos, of legal age, Filipino, and residing at 1929 Tomasa Avenue
corner Sampaguita Street, Tomasa Estate Subdivision, Ususan, Taguig City, hereinafter referred
to as the LESSOR.
-AND-

Mr. Mart Aldrin de Belen, of legal age, Filipino and residing at 21 D Kalayaan Street, Ususan,
Taguig City, hereinafter referred to as the LESSEE.

WITNESSETH: That
WHEREAS, the LESSOR is the administrator of the leased premises, a residential property with
commercial spaces in the ground floor, situated at 1929 Tomasa Avenue corner Sampaguita
Street, Tomasa Estate Subdivision, Ususan, Taguig City.

WHEREAS, the LESSOR agrees to lease-out one of the commercial spaces within the property,
specifically Unit 2 to the LESSEE and the LESSEE is willing to lease the same.

NOW THEREFORE, for and in consideration of the foregoing premises, the LESSOR leases unto
the LESSEE and the LESSEE hereby accepts from the LESSOR the LEASED premises, subject to the
following:

TERMS AND CONDITIONS:

I. PURPOSE: That the premises leased by the LESSEE shall be used exclusively for or for the
purpose/s of having it as a TAKE-OUT/KIOSK TYPE RESTAURANT and shall not be diverted to
any other use/s or purpose/s. It is hereby expressly agreed that if at any time the
premises is used for other purpose/s or if the LESSEE has violated any provision(s) of this
Contract, then the LESSOR shall have the right to rescind this Contract subject to the rights
provided under the Philippine laws and without resorting to the courts. Should in case the
LESSEE have employees or staff, the same should be named and made known to the LESSOR
through a written document stating the names and information of each employee/staff so as to
protect the interests of the LESSOR in its properties. The LESSOR shall have the right to reject
entry of some or all of the employee/staff. The premises may be occupied by a maximum
number of 4 persons. Non use or opening of the unit for operations/business for a maximum
 period of one week shall be a ground for the LESSOR to terminate this Contract, or for the
imposition of a higher rent-both at the LESSEEs prejudice. The LESSEE may, upon reasonable
cause and subject to a prior written approval of the LESSOR, temporarily close the
establishment without incurring the mentioned penalties.

II. TERM: This term of lease is for TWO (2) YEARS from March 12, 2017 to March 11,
2019 inclusive. Upon the end of said period, this contract of lease shall automatically expire and
the LESSEE shall vacate the premises without the need for any demands from the LESSOR and
without the need of any court order. This period of two years is composed of twenty four (24)
monthly cycles beginning on the 12th day of each month up to the 11th day of the month
succeeding it. A fraction of a month is always considered as one month.

III. RENTAL RATE: The monthly rental rate for the leased premises shall be SEVEN THOUSAND
(P7,000.00) for the first 12 months and SEVEN THOUSAND FIVE HUNDRED PESOS (P7,500) for
the remaining 12 months, Philippine currency. All rental payments shall be paid to the LESSOR in
cash on the first day of every month cycle. If for any reason the leased premises was not used
or closed for non-operation for at least one week without any prior written approval from the
LESSOR, an additional payment of TWO THOUSAND PESOS (P2,000) per month shall be
imposed. The additional payment shall not prejudice the LESSOR with regard to its right to
terminate the Contract by reason of non-operation or by any violation of the provisions of
this Contract. The rental rate shall be automatically increased to EIGHT THOUSAND PESOS
(P8,000) in the event that after the expiration of this Contract, the LESSEE is still occupying the
leased premises with the express approval of the LESSOR.

IV. IMPROVEMENTS AND MOVABLE PROPERTIES: Any improvements effected in the leased
premises by the LESSEE shall be considered as part of the consideration/payment for the use of
the leased premises and ownership of which shall be automatically vested to the LESSOR. The
LESSEE shall have no right to uninstall the same or to cause damages to the leased premises.
Any movable properties, items, products, merchandise, things, machines, equipment, fixtures,
furniture, receptacles, and whatever objects left in the premises at the end, termination,
rescission, or expiration of this Contract shall be charged a minimum storage fee of THREE
THOUSAND PESOS (P3,000), Philippine currency, per month cycle. However, should the
mentioned objects remain unclaimed for a period of THREE (3) MONTHS, ownership of such
shall be automatically vested to the LESSOR and the latter may dispose or sell the same for its
own benefit. Any changes to be made in the leased premises shall be with prior written
approval of the LESSOR and all changes are subject to reversion to its original status as it was at
the time of the start of the term, all at the LESSEEs cost. It is also agreed that the LESSEE will
cover the expenses in repainting the premises at the end of the term of the lease and the same
 shall be reverted to its original color with a new layer of paint, all at the LESSEEs cost. Should in
case the deposit is insufficient to cover the repair and/or reversion costs and other charges, the
LESSEE shall pay the LESSOR with the discrepancy within FIFTEEN (15) DAYS from the
termination, rescission, or expiration of this Contract.

V. PRELIMINARY PAYMENT: The LESSEE shall pay to the LESSOR upon signing of this contract an
amount equivalent to THREE (3) MONTHS, or the sum of TWENTY TWO THOUSAND FIVE
HUNDRED PESOS (P22,500.00), Philippine currency. The TWO (2) MONTHS rent shall be the
deposit money which shall answer for: damages and other obligations; utilities such as, but not
limited to water, electricity, CATV, telephone; and for any violations of this contract. The
remaining ONE (1) MONTH rent shall be applied as payment for the last month- FEBRUARY 12,
2018 to MARCH 11, 2019. The TWO (2) MONTHS DEPOSIT may only be given back to the LESSEE
upon deduction of the costs of repair, reversion, maintenance, payment of bills, damages in the
leased premises, and any other appropriate charges. The final or last bills for utilities shall still
be paid by the LESSEE and must not be deducted from the deposit. Deposit money shall
primarily answer costs of repairs and other appropriate charges. Should in case the
accumulated bills/utilities in any month of the LESSOR amounts to at least FIFTY PERCENT (50%)
of the deposit, one month additional deposit shall be paid by the LESSEE to the LESSOR. In cases
of excessive or high amount of utility bills exceeding the deposit money, additional deposits
shall then be made. The deposit money shall always be above TEN THOUSAND
PESOS (P10,000) of the total amount of bills payable by the LESSEE for any of its month. The
LESSOR shall be given a reasonable time of not less than THREE (3) months to: (a) determine if
all bills, utilities, and other charges have already been paid by the LESSEE; and (b) to cause the
necessary repairs, before it may be demanded to return the same. Proof of payment of utilities
shall be given to the LESSOR. A longer time shall be given to the LESSOR should in case the
extent of repairs or damages needed to be effected requires so. The payment made by the
LESSEE in the amount of THIRTEEN THOUSAND PESOS last August 27, 2016 as stipulated in the
Contract of Lease entered into by the LESSOR and the LESSEE on said date shall no longer be
returned but will be credited in favor of the LESSEE and shall be applied as deposit under this
New Contract of Lease. The LESSEE will then only have to pay an additional amount of TWO
THOUSAND PESOS (P2,000.00) to represent the increase in the two months deposit and SEVEN
THOUSAND FIVE HUNDRED PESOS (P7,500) for the advance rental payment- within one (1)
month from the signing of this Contract, on top of this first months rent under this new
Contract of Lease.

VI. DEFAULT PAYMENT: In case of default by the LESSEE in the payment of the rent, the LESSOR at
its option may terminate this contract and eject the lessee. The LESSEE is considered to be in
default upon nonpayment of the monthly rent on the specified date of payment, or for refusal
 or nonpayment of penalties or charges incurred by reason of this Contract of Lease. Demand is
not needed for the LESSEE to incur default or delay. A penalty of TWO HUNDRED PESOS
(P200.00) per day shall be incurred by the LESSEE by reason of delay in payment. This shall not
prejudice the LESSOR should it opt to avail the necessary remedies provided for by law. Also, the
LESSOR shall have the right to padlock the premises, withhold whatever is in stored in it, and
forfeit whatever payments and rental deposits that are in its possession whenever there is any
delay in payments. Any withheld objects owned by the LESSEE shall only be returned to
the latter upon payment of rentals and charges. The LESSOR shall have an automatic lien over
these properties in case the LESSEE incurs any delay in payment.

VII. SUB-LEASE: The LESSEE shall not: sublet- whether directly or indirectly; allow; or permit the
leased premises to be occupied in whole or in part by any person or entity. Neither shall the
LESSEE assign its rights hereunder to any other person or entity and no right or interest thereto
or therein shall be conferred on or vested in anyone by the LESSEE without the
LESSORS WRITTEN APPROVAL.

VIII. UTILITIES: The LESSEE shall pay for its water, electricity, CATV, internet, and other public or
private services and utilities during the duration of the lease. An amount of ONE HUNDRED
PESOS (P100.00) shall be paid by the LESSEE to the LESSOR per month for water bill.

IX. FORCE MAJEURE: If whole or any part of the leased premises shall be destroyed or damaged by
fire, flood, lightning, typhoon, earthquake, storm, riot, unavoidable Acts of God, or any other
unforeseen or fortuitous events, as to render the leased premises during the term substantially
unfit for use and occupation of the LESSEE, then this CONTRACT OF LEASE may be terminated by
the LESSOR by notice to the other, without any compensation. The LESSEE shall not be entitled
to any returns in payments made nor for any damages to its properties. This shall be the only
exception for the valid nonpayment of the LESSEE of the pre-termination fee.

X. DAMAGES/PENALTIES: Any damages that may occur by fault or negligence of the LESSEE or by
any third person, either to the LESSOR, the latters properties, or to any other third persons shall
be shouldered solely by the LESSEE, without resorting to its deposit, within fifteen days from the
occurrence of damage/s. In case the LESSEE failed to pay or refused to pay any part of its
obligation (rentals, charges, penalties, etc.) to the LESSOR, then this Contract of Lease may be
immediately terminated by the LESSOR. The LESSEE shall cause the necessary replacement of
any fixtures, or to repair said fixtures or of the premises itself prior to vacating the same. Upon
the termination/rescission/expiration of this Contract, the following amount shall be paid by the
LESSEE in case the same has to be replaced or repaired: faucet- P300.00; light bulb/fluorescent
lamp/light-P300.00; windows- P5,000; toilet bowl-P10,000; lavatory-P7,000; clogged drainage/
 pipes-P5,000; roll-up P15,000. Should in case the amount herein indicated is insufficient to
cover the actual cost of repair or replacement of said fixtures/objects, the LESSEE shall then pay
for the discrepancy within fifteen days from termination, rescission, or expiration of this
Contract. In all cases where charges, damages, or penalties may arise that were not specifically
provided or mentioned in this Contract, the same shall be paid or acted upon within FIFTEEN
(15) DAYS from its occurrence.

XI. LESSORS RIGHT OF ENTRY: The LESSOR or its authorized agent shall, after giving notice to the
LESSEE have the right to enter the premises at any reasonable hour to examine the same; make
repairs therein; conduct inspection and maintenance of the leased premises; to exhibit it to
prospective lessees; or for any other lawful purposes which the LESSOR may deem necessary.
The LESSOR shall also have an automatic right to enter and repossess the leased premises to the
exclusion of the LESSEE in the event that the latter defaulted in payment or should in case any
of the provision/s of this contract has been violated.

XII. EXPIRATION OF LEASE: At the termination, rescission, or expiration of the term of this
CONTRACT OF LEASE, as herein provided, the LESSEE shall promptly deliver to the LESSOR the
leased premises with all corresponding keys and in as good and tenable condition as the same is
now. Non-compliance of the LESSEE with these terms will give the LESSOR the right, at the
latters option, to refuse to accept the delivery of the premises and to compel the LESSEE to pay
rent therefrom at the rate of TEN THOUSAND PESOS (P10,000), with penalties/charges if
any, until the LESSEE shall have complied with the terms hereof. Should in case the LESSOR
deemed it proper to bring the matter to the Court, the LESSEE shall pay at least FIFTY
THOUSAND PESOS (P50,000) as penalty and shall, in addition, cover attorneys fees costs of suit,
and other charges.

XIII. TERMINATION OF CONTRACT: The LESSEE shall have the right to terminate the contract prior to
the date of its expiration provided that a payment of TWENTY FIVE PERCENT (25%) of the
monthly rental rate of each unexpired and unused month shall have been paid. Provided also
that a written notice of at least TWO MONTHS (2) prior to the intended date of termination has
been received and accepted by the LESSOR evidenced through a written letter of the latter's
acceptance, and that all obligations and responsibilities of the lessee shall have been complied
with in accordance with this Contract. Any fraction of a month shall be considered as one month
and its rent shall be wholly paid. Termination of Contract shall only be effected after two whole
monthly cycles from the approval of the LESSOR of the pre-termination request. The month
cycle starts from the 12th day of any month up to the 11th day of the succeeding month. If this
Contract of Lease has to be terminated by reason of: (a) LESSEEs violation of any of the
provisions; (b) non-fulfillment of any obligation; (c) or any other causes brought about by the
 acts of the LESSEE, then said termination shall not prejudice the LESSOR with regard to its right
to demand for the pre-termination fee of 25% of each unused month. Any acts of the LESSEE in
violation of this Contract shall be construed as an implied voluntary pre-termination of Contract
which shall subject the latter to the pre-termination fee.

XIV. NOTIFICATION: There shall be considered sufficient notice from the LESSOR by mere sending of
SMS to the LESSEE in any of the following contact information provided by the latter.

XV. This CONTRACT OF LEASE shall only be valid and binding between the contracting parties and
the LESSORS successors in interests.

XVI. The LESSOR shall have the right to rescind this contract anytime, without resorting to the courts
and without prejudice as to its rights under the law. Any violation of this Contact is a ground for
its immediate termination. If by any chance, the LESSOR will have to use the leased unit because
of personal, business, or whatever reason, this contract may then be rescinded or terminated by
the LESSOR even prior to the date of the expiration of this contract without any fee/payment
from the latter.

XVII. Any part of this contract which the Court may deem unlawful shall not affect the validity of the
other provisions and the entirety of the Contract.

XVIII. This CONTRACT OF LEASE is written in the language known and understood by the LESSOR and
the LESSEE. Ang KASUNDUAN NG PAGPAPAUPANG ito ay nakasulat sa wika naparehong
naiintindihan ng NAGPAPAPAUPA (LESSOR) at ng NANGUNGUPAHAN (LESSEE).

IN WITNESS WHEREOF, parties herein affix their signatures on the date and place
above written.

___________________________ ___________________________
Mr. Earl Mark Johnson C. Santos Mr. Mart Aldrin De Belen
LESSOR LESSEE

Signed in the presence of:

___________________________ ___________________________
 ACKNOWLEDGEMENT:

Republic of the Philippines)

_______________________) S.S.

Date:______________________

BEFORE ME, personally appeared:

Name ID Presented Date and Place Issued ID number

_____________________________ _____________ __________________ ____________

_____________________________ _____________ __________________ ____________

Known to me and known to be the same persons who executed the foregoing instrument and
acknowledged to me that the same is their free and voluntary act and deed.

This document consisting of __ pages, including the page on which this acknowledgement is
written, has been signed on each and every page thereof by the concerned parties and their
witnesses, and sealed with my notarial seal.

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

Notary Public
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Page no. ____;
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