Memorandum of Agreement

This Memorandum of Agreement (this “MOA” or this “Memorandum of

Agreement”) is made and entered into on this 30th day of August 2019 by and
between:

Alma Lim, owner of a 5-bedroom house located at South Plains Subdivision,

Guadalupe; and

Consuelo Tangpuz, a real estate broker of InterAsian Realty Incorporated with

an office located at Opascor Bldg, Benedicto Street, Cebu City.

1. PURPOSE & SCOPE.

The purpose of this Memorandum of Agreement is to set forth the terms and
conditions, scope of work and responsibilities of the parties associated with
their collaboration on running AIRBNB on the 5-BR house in South Plains
Subdivision.

Specifically, both parties will cooperate to develop a common understanding

as to how the business will be managed and operated.

2. BACKGROUND.

Both parties see the benefits of this project, have a desire to pursue the
project and have determined that each brings unique expertise and
experience necessary to accomplish the objectives outlined above.

Ms. Alma Lim, is the owner of the 5-BR property in South Plains Subd. She
has adequately furnished the place for it to be comfortably livable for visitors.
While the house is vacant and awaiting a long-term tenant, or a buyer, Ms Lim
agrees to have the house operated for hosting guests thru the AIRBNB
medium.
Consuelo Tangpuz, has unique expertise and experience in running and
operating AIRBNB on several other units in Cebu area. She is also a licensed
broker and would be able to promote the house for sale, should there be an
interested client.

3. Party 1 – Alma Lim’s RESPONSIBILITIES

3.1. Provide the necessary keys to the house and bedrooms
3.2. Provide access to Party 2 and her workers
3.3. Share the costs on cleaning materials, toiletries, extra towels and
beddings (if absolutely necessary)
3.4. Provide Comprehensive Fire Insurance for the house

4. Party 2 – Consuelo Tangpuz’s RESPONSIBILITIES.

4.1. Maintain the place in good condition
4.2. Ensure that all Airbnb communication with client’s is visible to
Party 1
4.3. Regular running of AIRBNB duties, with Party 2 to share 55% of all
income generated on the official AIRBNB activity of guest hosting to
Party 1, directly thru the Airbnb payment channel.

5. TERMS AND CONDITIONS.

It is mutually understood and agreed by and between the parties that: Commented [FT1]:

5.1. Each party takes legal and financial responsibility for the actions of
its respective employees, officers, agents, representatives and
volunteers. Each party agrees to indemnify, defend and hold harmless
the other to the fullest extent permitted by law from and against any
and all demands, claims, actions, liabilities, losses, damages, and costs,
including reasonable attorney’s fees, arising out of or resulting from the
indemnifying party’s acts or omissions related to its participation under
this Memorandum of Agreement, and each party shall bear the
proportionate cost of any damages attributable to the fault of such
party, its officers, agents, employees and independent contractors. It is
 the intention of the parties that, where fault is determined to have been
contributory, principles of comparative fault will be applied.
5.2. Each party, at its sole cost and expense, shall carry insurance or self
insure to cover its activities in connection with this MOA, and obtain,
keep in force and maintain, insurance or equivalent programs of self-
insurance, for general liability, workers compensation and business
automobile liability adequate to cover its potential liabilities hereunder.
5.3. This MOA may be amended from time to time by mutual agreement of
the parties in a written modification signed by both parties.
5.4. This MOA may be terminated by mutual agreement of the parties, and
shall automatically terminate upon completion of all responsibilities as
stated herein, unless otherwise amended.

6. FUNDING COSTS

The parties shall each be solely responsible for any and all costs
associated with their responsibilities under this MOA.

7. EFFECTIVE DATE AND SIGNATURE.

This Memorandum of Agreement shall be effective upon the date of the last
party to sign this MOA below. The parties indicate agreement with this
Memorandum of Agreement by their signatures below.

ALMA LIM
____________________________ ______________
Property Owner DATE

CONSUELO TANGPUZ
____________________________ ______________
AIRBNB Host DATE