CONTRACT OF LEASE

KNOW ALL MEN BY THESE PRESENTS:

This Contract of Lease is made and entered into this __________________ at Tagudin, Ilocos Sur
by and between:

VIZMARF VILLAPA LAZAGA, of legal age, Filipino, married and resident of #001 Lacong, Tagudin,
Ilocos Sur, hereinafter referred to as the “LESSOR”;

-and-

ROBERTO D. ACOSTA, of legal age, Filipino and a resident of Ambalayat, Tagudin, Ilocos Sur,
herein referred to as the “LESSEE”;

WITNESSETH:

WHEREAS, the lessor is the Manager/ Proprietor of VENCIO BUILDING located as National
Highway, #001 Lacong, Tagudin, Ilocos Sur engaged in the business of leasing commercial spaces;

WHEREAS, the LESSEE has offered to lease a certain unit as herein below described and the
LESSOR has accepted the offer subject to the following terms and conditions:

1. LEASED PREMISES

This lease shall cover Unit 8 of the Vencio Building with approximate floor area of ___ square meters
more or less, hereinafter referred to as the “Leased Premises”;

2. TERM

This Contract of Lease shall be for a period of one (1) year commencing on July 1, 2019 and expiring
at midnight of June 30, 2020 unless sooner terminated as herein provided. This lease may be
renewed with the written agreement of both parties under such terms and conditions mutually
acceptable to both parties;

3. RENTAL RATE

Parties herein agrees that the monthly rental of the Leased Premises shall be in the sum of Eleven
Thousand Pesos (Php 11,000.00). Any rentals not paid on or before the 15th day of the month shall
earn a penalty of Two Hundred Pesos (Php 200.00) a week. Monthly rentals exclude water and
electricity bills;

The monthly rental shall be subject to increase equivalent to Five Hundred Pesos (Php 500.00)
upon renewal of this contract.

Withholding tax due shall be at the LESSEE’s expense and the later shall be responsible of remitting
the same to the Bureau of Internal Revenue;

4. FINISHING IMPROVEMENTS AND RENOVATIONS

The LESSEE shall make improvement, alterations, and renovations in the premises, which the
LESSEE may deem necessary for its use. The expenses for such improvements and renovations
shall be for the account of the LESSEE. However, prior approval from the LESSOR is required before
any improvements, alteration and renovation can commence.

All permanent improvements in the leased premises shall become the property of the LESSOR and
shall remain upon and be surrendered with the premises as part thereof at the end of the term. The
 LESSOR may require the LESSEE to return the leased premises in the same condition as it was
received.

5. REPAIR AND MAINTENANCE

Ordinary repairs and maintenance within the leased property shall be performed by the LESSEE
without any need of approval by the LESSOR. All expenses for ordinary repairs and maintenance
shall be for the account of the LESSEE. It is understood that the LESSEE shall maintain the leased
premises in clean and sanitary condition, free from offensive odors, disturbing noises, or other
nuisances.

6. CHARGES OF UTILITIES

The LESSEE covenants and agrees to pay promptly all bills and charges which may become due
and payable for such utilities used and services rendered as electricity, water and other services
used in the leased premises during the full terms of the contract.

7. INJURY AND DAMAGES

The LESSEE hereby assumes full responsibility for any injury or damages to the leased premises in
the course of its operation and those which may be caused to the person or property of third persons
while remaining either casually or on business on any part of the leased premises and further binds
itself to hold the LESSOR free from any such claim or any such injury or damage save as may be
due to causes arising from the failure of the LESSOR to comply with the provisions of this contract
or those directly or indirectly attributable to the LESSOR.

8. VISITORIAL RIGHTS

The LESSEE covenants to permit the LESSOR or his agent/s to visit and examine the condition of
the leased premises at reasonable hours and in convenient manner 24 hours upon receipt of notice.

9. PROHIBITION OF SUB-LEASING

The LESSEE covenants not to assign or sub-lease the premises hereby leased or any part thereof
without the written consent of the LESSOR. Breach of this condition shall be ground for the
termination of this contract at the option of the LESSOR.

10. TERMINATION OF LEASE

The LESSEE agrees to return and surrender the leased premises at the expiration of the term or
termination for whatever reason of this lease without any delay whatsoever, devoid and/or free of all
occupants, furniture, articles and effects of any kind other than such alterations, additions or
improvement which the LESSOR may elect to take in accordance with the provision of Section 5
hereof.

If said premises be not surrendered at the expiration of the term, the LESSEE shall be responsible
to the LESSOR for all damages which the LESSOR shall suffer by the reason thereof and will
indemnify the LESSOR against any and all claims made by any succeeding tenants resulting from
delay by the LESSEE in delivering possession of the premises to such succeeding tenants, in so far
as such delay is occasioned by the failure of the LESSEE to surrender the premises on time.

Should the LESSEE violate any provision of this contract, this lease may be terminated immediately
by the LESSOR who shall have the right to enter the leased premises forthwith and collect all
damages resulting therefrom.
11. ABANDONMENT OF LEASED PREMISES

In case the leased premises be terminated or deserted/vacated by the LESSEE before the expiration
of this lease, the LESSEE shall be liable for all the rentals that may be due up to the date of expiration
of this lease as well as the rentals that may have already accrued at the time of such vacancy or
abandonment. Furthermore, the LESSOR shall then have the right to enter the leased premises as
the agent of the LESSEE either by force or otherwise, remove whatever furniture and/or other
properties may be found therein without being liable to any prosecution thereof or responsible for
any losses or damage to such furniture or property and to take possession of the leased premises
and re – lease the same. Further, the LESSEE shall not be entitled to any refund for any money
deposited.

12. EVENT OF DEFAULT

The LESSEE shall be deemed in default under this contract in any of the following instances:

a. The LESSEE fails to pay the rental fixed in Section 3 hereof, or any additional rentals and other
financial obligation of the LESSEE stipulated herein, within five (5) days from receipt of written
demand from the LESSOR to pay the same;

b. The LESSEE violates any of the terms and conditions stipulated herein and such other violation
remains un-remedied after five (5) days from receipt of the LESSOR’s written notice to remedy
such violation; and

c. The LESSEE abandons or is deemed to have abandoned the leased premises under Section 11
hereof and fails to respond within five (5) days from receipt of LESSOR’s written notice.

13. CONSEQUENCES OF DEFAULT

Upon the occurrence of any of the events of default set forth in Section 12 hereof, the LESSOR shall,
in addition to other remedies as may be prescribed by law have the following rights;

a. To terminate this Lease Contract without need of any prior demand or judicial declaration;
b. To demand and receive from the LESSEE payment for any and all unpaid rentals and other
obligations stipulated in or arising out of this Contract; and
c. To enter the leased premises and take possession of and sell at public or private sale, any and
all properties of the LESSEE found in the premises and to apply the proceeds thereof in the
payment of any unpaid account of the LESSEE

The parties hereby expressly agrees that if the LESSEE fails to move into or take possession of the
leased premises within thirty (30) days after the commencement of the term of this contract, the
LESSOR shall have the right to enter and repossess the leased premises without necessity of
instituting any court or judicial action. If the LESSEE shall make default hereinabove prior to the date
fixed as the commencement of this lease or any renewal or extension thereof, the LESSOR may
cancel and terminate this lease.

It is also agreed that the LESSEE shall be responsible for all acts and/or omissions of its officers,
employees, agents or visitors and that the provision of this lease shall bind and adhere to its heirs,
executors and administrator and permitted assigns.

14. RESTRICTION IN USE OF LEASED PREMISES

The premises hereby leased shall be used exclusively by the LESSEE only for ________________
purposes and the latter shall not divert the premises to other uses without the prior written consent
of the LESSOR; If the LESSEE violated this provision, the LESSOR has the choice to rescind this
contract or compel the LESSEE to stop the activities.
 15. FORCE MAJEURE

In case of damage to the leased premises or its appurtenances by fire, earthquake or other
unforeseen cause or for any cause independent of the will of the LESSOR, it shall be the duty of the
LESSEE to immediately notify the LESSOR in writing of such fact.
In the event that the building or the leased premises is damaged to the extent of being inhabitable
and untenantable without the fault or negligence on the part of the LESSEE, its agents, employees
or guests, this Lease Contract shall be rescinded, in which case the LESSOR shall not be liable to
the LESSEE for any damages incurred as a result thereof. In all instances, the LESSEE is always
under obligation to pay the rentals due until the time of destruction. Should the destruction occur for
causes attributable to the LESSEE, its employees, agents or guests, the damage shall be repaired
at the expense of the LESSEE who shall, in addition, be also liable to the LESSOR for the loss
rentals.

16. NON-WAIVER

Failure of the LESSOR to insist upon the strict compliance or performance of any of the terms,
conditions and covenants hereof shall not be deemed a relinquishment or waiver of any right or
remedy that the said LESSOR may have nor shall it be construed as a waiver of any right or remedy
that the LESSOR may have nor shall it be construed as a waiver of any subsequent breach or default
of the terms, conditions, or covenants herein contained unless expressed in writing and signed by
the LESSOR.

17. JUDICIAL RELIEF

It is agreed between the parties hereto that in the event of default on the part of the LESSEE, the
latter shall be liable for liquidated damages equivalent to TWENTY FIVE percent (25%) of all sums
due but in no case less than FIFTY THOUSAND PESOS (Php 50,000.00), aside from the costs of
the litigation and other expenses which the law may entitle the LESSOR to recover from the LESSEE.

IN WITNESS WHEREOF, we have hereunto set our hands this __________________ at Tagudin, Ilocos
Sur.

VIZMARF V. LAZAGA ROBERTO D. ACOSTA

LESSOR LESSEE

SIGNED IN THE PRESENCE OF:

Republic of the Philippines )

Tagudin, Ilocos Sur )S.S.

ACKNOWLEDGEMENT

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

This instrument refers to a Contract of Lease consisting of four (4) pages including this page where
the acknowledgement I written, signed by the parties and their instrumental witnesses.

WITNESS MY HAND AND SEAL on _________________ at Tagudin, Ilocos Sur.

Doc. No. ___

Page No. ___
Book No. ___
Series of 2019
 CONTRACT OF LEASE

KNOW ALL MEN BY THESE PRESENTS:

This Contract of Lease is made and entered into this __________________ at Tagudin, Ilocos Sur
by and between:

VIZMARF VILLAPA LAZAGA, of legal age, Filipino, married and resident of #001 Lacong, Tagudin,
Ilocos Sur, hereinafter referred to as the “LESSOR”;

-and-

ROBERTO D. ACOSTA, of legal age, Filipino and a resident of Ambalayat, Tagudin, Ilocos Sur,
herein referred to as the “LESSEE”;

WITNESSETH:

WHEREAS, the lessor is the Manager/ Proprietor of VENCIO BUILDING located as National
Highway, #001 Lacong, Tagudin, Ilocos Sur engaged in the business of leasing commercial spaces;

WHEREAS, the LESSEE has offered to lease a certain unit as herein below described and the
LESSOR has accepted the offer subject to the following terms and conditions:

1. LEASED PREMISES

This lease shall cover Unit 9 of the Vencio Building with approximate floor area of ___ square meters
more or less, hereinafter referred to as the “Leased Premises”;

2. TERM

This Contract of Lease shall be for a period of one (1) year commencing on July 1, 2019 and expiring
at midnight of June 30, 2020 unless sooner terminated as herein provided. This lease may be
renewed with the written agreement of both parties under such terms and conditions mutually
acceptable to both parties;

3. RENTAL RATE

Parties herein agrees that the monthly rental of the Leased Premises shall be in the sum of Eleven
Thousand Pesos (Php 11,000.00). Any rentals not paid on or before the 15th day of the month shall
earn a penalty of Two Hundred Pesos (Php 200.00) a week. Monthly rentals exclude water and
electricity bills;

The monthly rental shall be subject to increase equivalent to Five Hundred Pesos (Php 500.00)
upon renewal of this contract.

Withholding tax due shall be at the LESSEE’s expense and the later shall be responsible of remitting
the same to the Bureau of Internal Revenue;

4. FINISHING IMPROVEMENTS AND RENOVATIONS

The LESSEE shall make improvement, alterations, and renovations in the premises, which the
LESSEE may deem necessary for its use. The expenses for such improvements and renovations
shall be for the account of the LESSEE. However, prior approval from the LESSOR is required before
any improvements, alteration and renovation can commence.

All permanent improvements in the leased premises shall become the property of the LESSOR and
shall remain upon and be surrendered with the premises as part thereof at the end of the term. The
 LESSOR may require the LESSEE to return the leased premises in the same condition as it was
received.

5. REPAIR AND MAINTENANCE

Ordinary repairs and maintenance within the leased property shall be performed by the LESSEE
without any need of approval by the LESSOR. All expenses for ordinary repairs and maintenance
shall be for the account of the LESSEE. It is understood that the LESSEE shall maintain the leased
premises in clean and sanitary condition, free from offensive odors, disturbing noises, or other
nuisances.

6. CHARGES OF UTILITIES

The LESSEE covenants and agrees to pay promptly all bills and charges which may become due
and payable for such utilities used and services rendered as electricity, water and other services
used in the leased premises during the full terms of the contract.

7. INJURY AND DAMAGES

The LESSEE hereby assumes full responsibility for any injury or damages to the leased premises in
the course of its operation and those which may be caused to the person or property of third persons
while remaining either casually or on business on any part of the leased premises and further binds
itself to hold the LESSOR free from any such claim or any such injury or damage save as may be
due to causes arising from the failure of the LESSOR to comply with the provisions of this contract
or those directly or indirectly attributable to the LESSOR.

8. VISITORIAL RIGHTS

The LESSEE covenants to permit the LESSOR or his agent/s to visit and examine the condition of
the leased premises at reasonable hours and in convenient manner 24 hours upon receipt of notice.

9. PROHIBITION OF SUB-LEASING

The LESSEE covenants not to assign or sub-lease the premises hereby leased or any part thereof
without the written consent of the LESSOR. Breach of this condition shall be ground for the
termination of this contract at the option of the LESSOR.

10. TERMINATION OF LEASE

The LESSEE agrees to return and surrender the leased premises at the expiration of the term or
termination for whatever reason of this lease without any delay whatsoever, devoid and/or free of all
occupants, furniture, articles and effects of any kind other than such alterations, additions or
improvement which the LESSOR may elect to take in accordance with the provision of Section 5
hereof.

If said premises be not surrendered at the expiration of the term, the LESSEE shall be responsible
to the LESSOR for all damages which the LESSOR shall suffer by the reason thereof and will
indemnify the LESSOR against any and all claims made by any succeeding tenants resulting from
delay by the LESSEE in delivering possession of the premises to such succeeding tenants, in so far
as such delay is occasioned by the failure of the LESSEE to surrender the premises on time.

Should the LESSEE violate any provision of this contract, this lease may be terminated immediately
by the LESSOR who shall have the right to enter the leased premises forthwith and collect all
damages resulting therefrom.
11. ABANDONMENT OF LEASED PREMISES

In case the leased premises be terminated or deserted/vacated by the LESSEE before the expiration
of this lease, the LESSEE shall be liable for all the rentals that may be due up to the date of expiration
of this lease as well as the rentals that may have already accrued at the time of such vacancy or
abandonment. Furthermore, the LESSOR shall then have the right to enter the leased premises as
the agent of the LESSEE either by force or otherwise, remove whatever furniture and/or other
properties may be found therein without being liable to any prosecution thereof or responsible for
any losses or damage to such furniture or property and to take possession of the leased premises
and re – lease the same. Further, the LESSEE shall not be entitled to any refund for any money
deposited.

12. EVENT OF DEFAULT

The LESSEE shall be deemed in default under this contract in any of the following instances:

d. The LESSEE fails to pay the rental fixed in Section 3 hereof, or any additional rentals and other
financial obligation of the LESSEE stipulated herein, within five (5) days from receipt of written
demand from the LESSOR to pay the same;

e. The LESSEE violates any of the terms and conditions stipulated herein and such other violation
remains un-remedied after five (5) days from receipt of the LESSOR’s written notice to remedy
such violation; and

f. The LESSEE abandons or is deemed to have abandoned the leased premises under Section 11
hereof and fails to respond within five (5) days from receipt of LESSOR’s written notice.

13. CONSEQUENCES OF DEFAULT

Upon the occurrence of any of the events of default set forth in Section 12 hereof, the LESSOR shall,
in addition to other remedies as may be prescribed by law have the following rights;

d. To terminate this Lease Contract without need of any prior demand or judicial declaration;
e. To demand and receive from the LESSEE payment for any and all unpaid rentals and other
obligations stipulated in or arising out of this Contract; and
f. To enter the leased premises and take possession of and sell at public or private sale, any and
all properties of the LESSEE found in the premises and to apply the proceeds thereof in the
payment of any unpaid account of the LESSEE

The parties hereby expressly agrees that if the LESSEE fails to move into or take possession of the
leased premises within thirty (30) days after the commencement of the term of this contract, the
LESSOR shall have the right to enter and repossess the leased premises without necessity of
instituting any court or judicial action. If the LESSEE shall make default hereinabove prior to the date
fixed as the commencement of this lease or any renewal or extension thereof, the LESSOR may
cancel and terminate this lease.

It is also agreed that the LESSEE shall be responsible for all acts and/or omissions of its officers,
employees, agents or visitors and that the provision of this lease shall bind and adhere to its heirs,
executors and administrator and permitted assigns.

14. RESTRICTION IN USE OF LEASED PREMISES

The premises hereby leased shall be used exclusively by the LESSEE only for ________________
purposes and the latter shall not divert the premises to other uses without the prior written consent
of the LESSOR; If the LESSEE violated this provision, the LESSOR has the choice to rescind this
contract or compel the LESSEE to stop the activities.
 15. FORCE MAJEURE

In case of damage to the leased premises or its appurtenances by fire, earthquake or other
unforeseen cause or for any cause independent of the will of the LESSOR, it shall be the duty of the
LESSEE to immediately notify the LESSOR in writing of such fact.
In the event that the building or the leased premises is damaged to the extent of being inhabitable
and untenantable without the fault or negligence on the part of the LESSEE, its agents, employees
or guests, this Lease Contract shall be rescinded, in which case the LESSOR shall not be liable to
the LESSEE for any damages incurred as a result thereof. In all instances, the LESSEE is always
under obligation to pay the rentals due until the time of destruction. Should the destruction occur for
causes attributable to the LESSEE, its employees, agents or guests, the damage shall be repaired
at the expense of the LESSEE who shall, in addition, be also liable to the LESSOR for the loss
rentals.

16. NON-WAIVER

Failure of the LESSOR to insist upon the strict compliance or performance of any of the terms,
conditions and covenants hereof shall not be deemed a relinquishment or waiver of any right or
remedy that the said LESSOR may have nor shall it be construed as a waiver of any right or remedy
that the LESSOR may have nor shall it be construed as a waiver of any subsequent breach or default
of the terms, conditions, or covenants herein contained unless expressed in writing and signed by
the LESSOR.

17. JUDICIAL RELIEF

It is agreed between the parties hereto that in the event of default on the part of the LESSEE, the
latter shall be liable for liquidated damages equivalent to TWENTY FIVE percent (25%) of all sums
due but in no case less than FIFTY THOUSAND PESOS (Php 50,000.00), aside from the costs of
the litigation and other expenses which the law may entitle the LESSOR to recover from the LESSEE.

IN WITNESS WHEREOF, we have hereunto set our hands this __________________ at Tagudin, Ilocos
Sur.

VIZMARF V. LAZAGA ROBERTO D. ACOSTA

LESSOR LESSEE

SIGNED IN THE PRESENCE OF:

Republic of the Philippines )

Tagudin, Ilocos Sur )S.S.

ACKNOWLEDGEMENT

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

This instrument refers to a Contract of Lease consisting of four (4) pages including this page where
the acknowledgement I written, signed by the parties and their instrumental witnesses.

WITNESS MY HAND AND SEAL on _________________ at Tagudin, Ilocos Sur.

Doc. No. ___

Page No. ___
Book No. ___
Series of 2019