CAGAYAN DE ORO CITY-BUGO

29. September 2011

CONTRACT OF LEASE
KNOW ALL MEN BY THESE PRESENTS: LESSOR; MR. JOSE FERNANDO OF LEGAL AGE, AND WITH RESIDENCE AND POSTAL ADDRESS AT POBLACION, VILLANUEVA, MISAMIS ORIENTAL, MINDANAO, PHILIPPINES, HEREINAFTER REFERRED TO AS THE LESSOR, AND LESSER; ROBERT JOSEPH EDISON C MANRIQUEZ, OF LEAGLE AGE, RESIDENCE AND POSTAL ADDRESS AT GREYMAR, 2ND FLOOR OFFICE DON BOSCO CANTEEN, CAGAYAN DE ORO CITY BUGO, AND MARCEL GUGERLI, OF LEAGLE AGE, SWISS NATIONAL, WITH POSTAL ADDRESS AT GREYMAR, 2ND FLOOR OFFICE DON BOSCO CANTEEN, CAGAYAN DE ORO CITY BUGO, HEREINAFTER REFERRED TO AS THE LESSEE. LEASED PREMISES AND LOCATION CERTAIN SPACE ADJACENT TO THE MACAJALAR BAY CORNER BALOC RIVER, MORE PARTICULARLY DESCRIBED AS FOLLOWING; SUN SET BEACH, AREA OF AROUND 2900 SQM, WITH KARAOKEE COTTATGE, DIFFERENT OTHER COTTAGES, BEACH ACCESS, AND HOUSE WITH 10 ROOMS, FOR BUSINESS PURPOSES ONLY.

WITNESSETH WHEREAS, THE LESSOR IS THE LAWFUL AND ABSOLUTE OWNER OF THE LEASED PREMISES LOCATED AT; POBLACION, VILLANUEVA, MISAMIS ORIENTAL, MINDANAO, PHILIPPINES. WHEREAS, THE LESSOR HEREBY GRANTS AND LETS UNTO THE LESSEE, AND LATTER HEREBY ACCEPTS TO LEASE A CERTAIN PORTION OF THE AFOREMENTIONED PREMISES. WHEREFORE, FOR AND IN CONSIDEREATION OF THE FOREGOING PREMISES, AND THE COMMITMENTS HEREIN ESTABLISHED, THE PARTIES HERETO AGREE AS FOLLOWS;

TERMS AND CONDITIONS

1) THAT THE LESSOR HEREBY AGREES TO GIVE THE LESSEE SEVEN (7) DAYS / ONE WEEK WITHIN WHICH TO BE USED TO CLEAN UP AND SET UP THE PREMISES, FREE OF RENTAL AND THEREAFTER THE LEASE SHALL COMMENCE ON OCTOBER 1. 2011 2) THIS CONTRACT OF LEASE SHALL BE FOR A PERIOD OF THREE (3) YEARS TO COMMENCE ON OCTOBER 1. 2011 AND EXPIRE ON SEPTEMBER 31. 2014, WITH OPTION TO RENEW THE CONTRACT OF LEAS FOR ADDITIONAL THREE (3) YEARS. 3) THAT THE LESSEE HAS KNOWLEDGE THAT THE PREMISES IS FOR SALE. 4) THAT THE LESSEE SHALL PAY TO THE LESSOR A RATE OF SEVEN THOUSAND PESO (P 7000.--) PHILIPPINE CURRENCY, PER MONTH. 5) THAT THE LESSEE SHALL PAY ONE MONTH (1) ADVANCE AND ONE MONTH (1) DEPOSIT WITH A TOTAL OF FOURTEEN (14000.--) THOUSAND PESOS PHILIPPINE CURRENCY. 6) THAT THE WATER BILL, HIGHER THAN THREEHUNDRED (P 300.--) AND ELECTRIC BILL, HIGHER THAN SEXHUNDRED (P 600.--) SHALL BE AT THE EXPENSE OF THE LESSEE. 7) THAT ANY IMPROVEMENTS SHALL BE AT THE EXPENSE OF THE LESSEE, A FULL REINBURSEMENT WILL TAKE PLACE IF THE PREMISES WILL BE SOLD DURING THE LEASED TIME. 8) THAT ANY IMPROVEMENTS SHALL BE PRE-DECIDED WITH THE LESSOR. 9) THAT IN CASE THE LESSEE FAILS TO PAY TWO (2) SUCCESSIVE MONTHS, THE LESSOR SHALL HAVE THE RIGHT TO WARN THE LESSEE TO VACATE THE RENTED PROMISES. 10) THAT THE KARAOKE MACHINE BELONGS TO THE LEASED PREMISES BUT CAN BE USED, AND THE GENERETED EARNINGS BELONGS TO THE LESSEE. THE MAINTANANCE AND ALSO THE SET UP FOR NEW SONGS OF THE KARAOKE MACHINE IS THE RESPONSIBELETY AND GOES TO THE EXPENSE OF THE LESSEE. 11) THAT THERE WILL BE AN OPEN PUBLIC ACCESS TO AND FROM THE BEACH. 12) THAT THERE WILL BE AN OPEN PUBLIC ACCESS TO AND FROM THE HIGHWAY.+

13) THAT THERE WILL BE AN OPEN COSTUMER PARKING AREA, LOCATED BY THE ENTRANCE OF THE SUN SET BEACH 14) THAT THERE WILL BE A SIGN ON THE HIGHWAY THAT LEEDS COSTUMER TO THE SUN SET BEACH. 15) THAT THERE WILL BE ALSO A SIGH ON THE BEACH THAT LEEDS COSTUMER TO THE SUN SET BEACH. 16) THAT THERE WILL BE AN OPERATION OF A SARI SARI STORE IN THE LEASED PREMISES. 17) THE LEASED PREMISES WILL BE USED AS KARAOKEE PLACE, BORDING OR GUEST HOUSE, VENUE FOR PARTYS, WEDDINGS, BIRTHDAYS, REUNIONS, OR OTHER ACTIVITYS.

IN WITNESS WHEREOF, PARTIES HEREIN AFFIXED THEIR SIGNATURES ON THE DATE AND PLACE ABOVE WRITTEN.

JOSE FERNANDO LESSOR

ROBERT JOSEPH EDISON C MANRIQUEZ LESSOR

MARCEL GUGERLI LESSOR

WITNESS

REPUBLIC OF THE PHILIPPINES CITY OF CAGAYAN DE ORO - BUGO

THIS INSTRUMENT CONSISTING OF THREE (3) PAGES, INCLUDING THE PAGE ON WHICH THIS ACKNOWLEDGEMENT IS WRITTEN, HAS BEEN SIGNED ON EACH AND EVERY PAGE THEREOF BY THE CONCERNED PARTIES.