CONTRACT OF LEASE

KNOW ALL MEN BY THESE PRESENTS:

This Agreement is made and entered into by and between:

SHIRLEY F. WISCO, Filipino, of legal age, and with residence and postal
address at No. 3 Gen. Concepcion Street, Caloocan City, hereinafter referred to
as the “LESSOR.”

-and-

PASSENGER ACCIDENT MGMT. & INSURANCE AGENCY, INC., a

domestic corporation duly existing and organized under the laws, of the Republic
of the Philippines, with office address ______________________________,
represented by,______________________ hereinafter referred to as the
“LESSEE.”

RECITALS:

Whereas, the LESSOR is the owner of a parcel of land and all improvements
thereon (i.e. a 5-door apartment structure with commercial and covered parking
spaces, etc.) situated at No. 24-B Matipuno Street, Barangay Pinyahan, Quezon
City, with an area of 643.7 square meters, more or less;

Whereas, the LESSEE will lessee and occupy Unit C of the aforementioned
5-door apartment structure, located at Matipuno Street, with a total estimated
floor area of at least _____ square meters, hereinafter referred to as the “Leased
Premises”;

Now therefore, for and in consideration of the rentals and of the mutual
covenants and stipulations hereinafter set forth, the parties hereto have agreed
and do hereby agree as follows:

1. Leased Premises: The LESSOR shall convey unto the LESSEE by way
of lease the subject Leased Premises described above in the recital on an
“as is, where is” basis.

2. Term of Lease: The lease shall be for a period of ONE (1) year
commencing on August 1, 2017 and ends on August 31, 2017.

3. Hold-over Provision: If, after the expiration of this lease, LESSEE

remains in possession of the premises, LESSEE shall be a LESSEE from
month to month. As a month to month LESSEE, rent shall be in the
amount set by LESSOR in the manner permitted by law and LESSEE
shall be subject to all provision of this lease which may be applicable and
consistent with a month to month tenancy. The increase of the monthly
rental shall be at least 10% of the amount of rent indicated in the expired
lease contract. This clause shall also be applicable for the purposes of
renewing this lease contract. Correspondingly, the deposit as indicated in
this contract shall be proportionately increased equivalent to the new
monthly rental fee.

4. Rental: The LESSEE shall pay the LESSOR monthly net rental for the
Leased Premises amounting to PESOS: TWENTY THOUSAND Php
20,000.00), exclusive of VAT and net of any other tax that may be
imposed or collected thereon.

The payment of the aforesaid rental by the LESSEE shall be made via
post-dated checks dated and due every 5th day of the month.

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 On or before the signing of this Agreement, the LESSEE shall issue
the first TWELVE (12) post-dated checks. All checks shall not be
crossed.

Upon failure to remit the stipulated rental within the above-prescribed

period, or upon dishonor or stop payment of any post-dated checks issued
for conveyance purposes, any unpaid amount shall bear DAILY interest
and penalty of HALF PERCENT (0.5%) compounded monthly to be
computed from the date rentals are due pursuant to the terms hereof until
the same is paid in full by the LESSEE. The above is without prejudice to
the right of the LESSOR to terminate the lease due to such default or
delinquency, after giving the LESSEE ten (10) days prior written notice.

5. Deposits: The LESSEE shall remit to the LESSOR a SECURITY

DEPOSIT equivalent to TWO (2) months rental which comprises 2 months
security deposit or a total of PESOS: FORTY THOUSAND (Php
40,000.00) by July 31, 2017 (effectivity date of the contract).

The deposit shall not bear interest. The deposit shall be returned to the
LESSEE less any deductible amount at the expiration of the lease within
NINETY (90) days after the LESSEE has completely and satisfactorily
vacated the Leased Premises in accordance with the terms of this
Agreement. The deposit shall answer for any unpaid and overdue
obligations of the LESSEE under this lease at the expiration thereof,
but shall not be offset against any amount due from the LESSEE
during the term of the lease. The deposit shall also serve as
collateral security for whatever liquidated damages in case the
LESSEE breached or violated this Agreement.

In case of pre-termination by the LESSEE for whatever reason, this

Security Deposit shall be forfeited in favor of the LESSOR as
compensation for her sudden loss of rental income; and no portion thereof
shall be applied to any rental due or other amounts owed by the LESSEE
to the LESSOR.

The said deposit shall also act as the UTILITY AND REPAIR DEPOSIT for
the payment of all unpaid utilities (i.e. Meralco, Maynilad, PLDT, etc.) of
the LESSEE at the expiration of this Agreement, as well as for all repairs,
cleanliness and maintenance requirements that the LESSEE refused or
failed to undertake during the term of this Agreement. Unless otherwise
stated, the UTILITY AND REPAIR DEPOSIT shall be governed by the
same stipulations as the above SECURITY DEPOSIT.

6. Purposes: The LESSEE hereby expressly agrees and warrants that the
Leased Premises shall be used exclusively for the following:

1. The up and down apartment unit, for office purpose only

including its provisions for parking and recreation area. The
LESSEE is prohibited from doing the following 1) the LESSE
cannot install air con without written approval of the LESSOR ,
LESSE cannot cooked and laundry inside the apartment, vault,
filing cabinet and any heavy equipment is not allowed to top or
2nd floor of the apartment, converting any part of the unit into a
SARI-SARI Store nor selling any goods without the express
permission of the LESSOR however, the LESSEE can convert
partly his/her unit into an Office provided that all plans, design
and permission should be with the written consent of the
LESSOR;

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 2. OCCUPANCY: Only LESSEE and the following individuals may
occupy the premises. Maximum of 5 adults and 3 children shall
be allowed. Occupancy by guests staying over 30 days will be
considered in violation of this provision, unless otherwise
consented to by the landlord.

NAME RELATIONSHIP

_________________________ __________________________

_________________________ __________________________

_________________________ __________________________

_________________________ __________________________

_____________________ ______________________

Moreover, the LESSEE shall not use the Leased Premises for industrial or
other purposes not appropriate for the neighborhood and vicinity around it
nor authorized by local government units. Even if the circumstances
warrant, the LESSEE shall not divert or convert the Leased Premises to
other uses without prior written consent of the LESSOR. It is expressly
agreed that if at any time during the term of the lease and without the prior
written consent of the LESSOR, the said premises are used for other
purposes, or LESSEE contravenes the last preceding paragraph hereof,
the LESSOR shall have the right to (a) terminate the lease by reason of
such breach of contract; or (b) increase the rental rate; and/or (c)
compel the LESSEE to stop the new activities being done therein, in
addition to other remedies available to the LESSOR.

7. Tenantable Condition: The LESSEE hereby declares and acknowledges

that the Leased Premises were conveyed and delivered to him/her in
good, clean, tenantable, sanitary, safe, environmentally and structurally
sound condition, and that he/she agrees to always keep and maintain the
same in such condition until he/she vacates the premises. Thus, the
costs and expenses of any and all repairs, cleanliness and maintenance
requirements on the Leased Premises shall be entirely borne by and for
the sole and exclusive account of the LESSEE and the LESSEE
authorizes the LESSOR to deduct the cost of repairs, cleaning and
maintenance fees against the deposit of the former.

It is expressly agreed that the LESSEE shall not start or proceed with any
major repair and/or renovation work nor in any case make alterations or
changes in the electric or plumbing installations, nor introduce any
improvements in the existing structures without the prior written approval
of the LESSOR. Should there be a need for government permits, the
LESSEE shall secure all the necessary permits on his sole account,
copies of which shall be furnished to the LESSOR.

All improvements introduced by the LESSEE without the prior written

consent of the LESSOR shall, at the option of the LESSOR, be forfeited in
favor of the LESSOR or be ordered removed or caused to be removed by
the LESSOR at the sole expense of the LESSEE.

Upon the signing of this Agreement, the LESSEE shall allow the LESSOR
to inspect the entire Leased Premises so that the parties can take note of
the existing condition and status of the present improvements on
LESSOR’s property.

Any and all repairs, maintenance and renovation works, alterations and

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 changes, and any and all improvements on the Leased Premises shall not
be charged against the LESSOR. At the expiration of this Agreement, they
shall all inure to the benefit of the LESSOR, without any obligation on her
part to reimburse the LESSEE, or to reduce the rentals or deposit due.

8. Sublease and Assignment: The LESSEE shall NOT or PROHIBITED

from subleasing in any manner the Leased Premises, or any portion
thereof, nor assign and transfer his rights to this Agreement to any third
person (natural or juridical). Any such sublease or assignment shall be
void and a violation of this Agreement.

9. Third Party Liability: The LESSEE shall hold and render the LESSOR
free and clear from any liability or obligation to himself or to any and all
third persons, including any and all his family or household members,
employees, agents, guests, customers, clients, contractors, government
regulators (e.g. BIR, DOLE, DTI, City Hall, etc.), and other lessees of the
LESSOR, in connection with his use, possession and occupation of the
Leased Premises, and in any and all his transactions, businesses and
activities pertaining thereto. The LESSEE shall also assume full
responsibility for any and all injuries or damages caused to his own person
or property, or that of his family, household, employees, agents, guests,
customers, clients, contractors, government regulators, and other lessees
of the LESSOR, in relation his lease, occupation and use of the subject
premises.

The LESSOR shall not be liable or responsible for any loss of life or injury
or loss of property suffered by the LESSEE and/or any and all third
persons above-enumerated resulting from whatever fault or negligence,
fraud, theft, robbery, or any other crimes committed inside or within the
vicinity of the Leased Premises, nor from the refusal or failure of the
LESSEE to make any and all necessary and incidental repairs, cleanliness
and maintenance requirements on the Leased Premises.

For this purpose, the LESSEE shall keep and maintain adequate and
appropriate security, health and safety measures inside and within the
vicinity of the Leased Premises, and procure sufficient comprehensive
liability and property insurance coverage from reputable insurers.

10. Taxes: All taxes and other public assessments imposed upon the Leased
Premises, both land & building, shall be for the account of the LESSOR,
but should the LESSEE make alterations and/or improvements, the
LESSEE shall be responsible for those due on any such alterations or
improvements. The LESSEE shall also bear such new or additional taxes
and assessments in case of any change in the stipulated purpose or use
of the Leased Premises. The LESSEE shall exclusively shoulder and
pay for the VAT on rental.

11. Property Insurance: For the entire duration of this Agreement, the
LESSEE shall procure and maintain, at his own expense, a
comprehensive insurance coverage from a reputable insurer that shall
protect the Leased Premises against fire, lightning, earthquake and/or all
other acts of nature, and assign the same to the LESSOR. The LESSEE is
encouraged to procure and maintain additional property insurance
coverage to protect his own insurable interests. Furthermore, the LESSEE
is obliged to provide fire extinguisher as provided by the Fire Code of the
Philippines.

12. Damage by Fire or other Casualty: If the Premises are damaged by fire
or other casualty but can be restored to tenantable condition, LESSOR
shall repair the Premises with reasonable dispatch. The LESSEE’s
obligation to pay rent shall be suspended during the time that the
Premises remain untenantable. There will be no suspension of Rent if

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 Tenant can occupy the apartment without substantial inconvenience. If the
Premises cannot be restored to the tenantable condition within a
reasonable time, either party shall have the right to terminate this lease by
written notice to the other party. However, if such fire and other casualties
were caused by the LESSEE, he/she shall cause the repair and
restoration of the property to its former condition prior to the casualty.
Moreover, there will be no suspension of Rent even if the property remains
untenantable.

13. No Right of First Refusal: LESSEE shall have no right of first refusal, or
redemption or preemption in the event the LESSOR decides to sell,
donate, convey, transfer, mortgage or encumber the Leased Premises in
any manner. LESSEE shall also have no right of first refusal in the event
the LESSOR decides to lease out the Leased Premises to third persons
upon the expiration of this Agreement.

Furthermore, in case of renovation, improvement and demolition of the

leased premises prior to the expiration of the contract of lease, the
LESSOR shall inform the LESSEE 30 days before the intended date of
such improvement or demolition or renovation. The LESSEE shall have no
right to contest such decision other than the right to be informed and
reimbursed his/her deposits if any.

14. Penalty and Liquidated Damages: The LESSEE, at the expiration of the
lease or pre-termination thereof, as herein provided, shall promptly deliver
the Leased Premises to the LESSOR in as good and tenantable condition
in all respect as the same now are, devoid of all other occupants, including
all furniture, articles and effects of any kind, PROVIDED, HOWEVER, that
non-compliance on the part of the LESSEE with the terms of this clause
will give the LESSOR the right, at her option, to refuse to accept the
delivery of the said premises and to compel the LESSEE to pay monthly
rent at the same rate of rental as herein provided, plus 100% thereof as
penalty and liquidated damages every month, until the LESSEE shall have
complied with the terms hereof. This same penalty and liquidated
damages shall likewise be imposed upon the LESSEE in case he shall
refuse to leave the premises (under the terms of this clause) after this
Agreement has expired or is terminated or pre-terminated for any reason.

15. Penalty for late payment: The LESSOR shall have the right to impose an
additional 0.5% per day of the amount of rent as penalty for late payment
until the rent has been fully paid. Late payment shall mean the LESSEE
failed to render payment on or before the period indicated in this contract.

16. Special Power of Attorney: The LESSEE hereby irrevocably appoints,

nominates and constitutes the LESSOR as his attorney-in-fact authorized
to enter, and if necessary, to break open, padlock and takeover
possession of the Leased Premises for purposes of inspection and/or
enforcement of any and all terms and conditions of this Agreement;
PROVIDED that, advance written notice is given to the LESSEE.

17. Acceleration Clause: If LESSEE breaches this lease or vacates the

premises prior to expiration, LESSOR may accelerate the term of this
lease and declare all rents for the remaining terms to be immediately due
and payable. Either party may have a Court determine the actual amount
owed, if any.

18. Termination and Pre-Termination: The LESSOR may immediately

terminate this Agreement if after FIVE DAYS (5) from written notice of
violation, the LESSEE still fails or refuses to completely or satisfactorily
address or remedy any delay, default, breach, non-payment of two

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 month’s rent, non-compliance, abandonment or violation of this
Agreement. The aforementioned notice is non-extendible. The LESSEE is
deemed in default or in a state of abandonment of the Leased Premises
when he/she refused or failed to pay any rental for two months in the
manner described above for any reason whatsoever.

However, if the violation of the LESSEE pertains to the conduct of illegal

or immoral businesses, transactions or activities within the vicinity of the
Leased Premises, LESSOR has the option not to give the LESSEE any
chance to be able to continue the lease even if the LESSEE ceased and
desisted from carrying on his immoral or illegal activity, transaction or
business.

After the lapse of the non-extendible 5-day period provided in this

agreement, and after the LESSOR’s intention to no longer continue the
lease is made apparent in a Notice of Termination sent to the LESSEE,
this Agreement is automatically cancelled or terminated except the
provision on Paragraph 14 of this agreement without any need of prior
judicial action or a court order.

In order to effect the unilateral and automatic cancellation or termination of

this Agreement, the LESSEE hereby gives the LESSOR or her
representatives and agents the irrevocable right to enter, takeover or
padlock the Leased Premises FIVE (5) days after the LESSEE’s receipt of
the Notice of Termination.

In case the LESSOR exercises her right to terminate or cancel this

Agreement pursuant to the above paragraphs, the LESSEE’s Security
Deposit shall be forfeited in favor of the LESSOR, and the LESSEE shall
remain liable to pay for any unpaid rentals, utilities and repairs on the
Leased Premises.

The LESSEE may pre-terminate this Agreement for any reason upon
THIRTY DAYS (30) advance written notice to the LESSOR subject to the
applicable penalties and forfeitures under this Agreement.

The delivery of written notices under this Agreement is deemed complied,

completed and received upon proof of email and commercial courier
service to the following addresses:

LESSOR: Email address: pol.sangalang@paladinslaw.org

Given address: Unit 1004, The One Executive Office,
No. 5 West Avenue, Barangay Nayong
kanluran, Quezon City.

LESSEE: Email address:

Given address: No. 24- B Matipuno Street
Barangay Pinyahan
Quezon City.

19. Legal Action: The venue for any and all legal actions concerning this
Agreement shall exclusively pertain to the proper courts of Quezon City.
The aggrieved party in any litigation shall be entitled to full reimbursement
from the erring party any and all incidental and necessary costs and
expenses of the suit, litigation, execution and publication, including all
court fees and all professional fees of lawyers.

20. Non-Waiver: No waiver of rights under this Agreement shall be presumed

even if the party possessing such rights has failed or delayed in invoking
or enforcing them. Any and all waivers must be in writing, signed and

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 specified by the party making such waiver.

21. Warranty: The LESSOR hereby warrants that the Leased Premises is
free from any and all liens or encumbrance of whatsoever nature (except
for those annotated on the Certificate of Title), and that she has full right to
lease the same to LESSEE.

The LESSEE warrants that his business is legal and moral and with
updated business and other permits required for the conduct and
continued operation at the Leased Premises. LESSEE further warrants
and undertakes that the Leased Premises is and will not be used for
immoral act or for the conduct of any illegal business or transaction.

The LESSEE also warrants that he shall not bring or store in the Leased
Premises the following: contraband of any kind, subversive materials,
illegal or dangerous drugs, hazardous goods or articles, illegal firearms or
explosive, large quantities of highly flammable or combustible materials,
and the like.

In the event the LESSEE violates any of the foregoing warranties, this
Agreement shall automatically be considered terminated subject to
penalties, damages and forfeitures prescribed herein.

22. Succession: This Agreement shall be binding upon the heirs, executors,
administrators, and successors of the parties hereto.

IN WITNESS WHEREOF, the parties have affixed their respective signatures

on______________ 2017 at Quezon City, Philippines.

_______________________ _______________________
SHIRLEY F. WISCO ROWENA MAZO
Lessor Lessee

Witnesses:

_______________________ _______________________

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REPUBLIC OF THE PHILIPPINES)
) S.S.

ACKNOWLEDGMENT

BEFORE ME, on this day, personally appeared:

Name Valid Government Issued Identifications

1.Shirley F. Wisco Voter’s ID No. 7501-0130B-F1158SFW20000-6

2.Rowena Mazo

to me known and known to me to be the same person/s who signed and

executed the foregoing Lease Agreement pertaining to Leased Premises situated
at No. 24- B Matipuno Street, Barangay Pinyahan, Quezon City, and
acknowledged to me that the same is executed as their free and voluntary acts
and deeds for the uses and purposes therein set forth.

I further certify that said Agreement consists of 8 pages including this one
and signed by the above-named parties and their witnesses on each and every
page thereof.

IN WITNESS WHEREOF, I have hereunto fixed my signature and Notarial

Seal.

Doc. No.
Page No.
Book No.
Series of 2016.