LEASE AGREEMENT

KNOW ALL MEN BY THIS PRESENTS:

This Lease Agreement, made and entered into this 1 st day of November,
2017 in the City of Pasig, by and between:

ERLINDA D. BETITO, of legal age, Filipino, and residing at Unit

2628 Mega Plaza, ADB Ave. cor Garnet Road, Ortigas Center,
Pasig City, as represented by her Attorney-in-Fact JAMES
ANTHONY D. BETITO, hereinafter referred to as the “LESSOR”

and

REX OLIVER CORONEL TENGCO, with principal address at 14 P

Pluto St. Crestview Subdivision, Antipolo, Rizal, hereinafter
referred to as the “LESSEE”

WITNESSETH that,

WHEREAS, LESSOR is a registered owner of a commercial unit, known as

Unit C, located at # 323 Amang Rodriquez Ave. Bgy. Manggahan, Pasig City;

WHEREAS, LESSOR, as represented her attorney-in-fact by way of a

Special Power of Attorney (Annex “A”) is willing to lease the said
commercial unit to the LESSEE;

THEREFORE, LESSOR hereby leases to LESSEE and the latter hereby

accepts to lease the said premises known as Unit C (hereinafter referred
to as the “LEASED PREMISES”).

This Lease Agreement is under the following terms and conditions:

1. RENTAL AND PAYMENT- Parties herein agree that the rental of

the Leased Premises shall be Fifteen Thousand Pesos (Php 15,000.00), every
month. Upon signing of this Agreement, the LESSEE agrees to pay the
LESSOR the sum of One Hundred Thirty Five Thousand Pesos (Php
45,000.00) to be applied as follows:

a. the sum of Fifteen Thousand Pesos (Php 15,000.00) as one (1)

month advanced rental, which shall be applied on the first
month of this Lease Agreement, or from November 1, 2017 to
November 30, 2017; and

b. the sum of Thirty Thousand Pesos (Php 30,000.00) as two (2)

months security deposit, which will remain intact during the
lease period to answer for any unpaid bills such as for
electricity, water, telephone, and for damages made on the
Leased Premises if any. The unused portion of this deposit, if
any, shall be refundable immediately after the final billing.

The LESSEE shall issue eleven (11) post-dated checks, with each
check amounting to Php 15,000.00 representing LESSEE’s monthly payment,
starting from December 30, 2017 to October 30, 2018.
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In case any of the post-dated checks issued to the LESSOR by the

LESSEE is dishonored for any reason, the LESSEE shall pay to the LESSOR
interest on the amount due at the rate of three percent (3%) per month, to
be computed from the date of delinquency until full payment. The foregoing
shall be without prejudice to the right of the LESSOR to terminate and cancel
this Lease Agreement and exercise to the right of the LESSOR to terminate
such rights incidental thereto as set forth in this Agreement.

2. TERM - The term of the lease shall be one (1) year, starting from
1st day of November 2017 until the 1st day of November 2018.

3. RENOVATIONS/IMPROVEMENTS - The LESSEE shall not make

any renovation or improvement without prior written consent of the LESSOR
provided that all such improvements, renovation, alterations or additions of
whatever nature made on the Leased Premises shall, upon completion
thereof, form integral parts of the Leased Premises and shall not be removed
therefrom and shall belong to, and become exclusive property of the
LESSOR, without any right on the part of the LESSEE to reimbursement of
the cost or value thereof. For purposes of this provision, the LESSEE shall
submit the proposed plan of alteration/renovation or improvement for
approval of the LESSOR.

4. FIXTURES AND OTHER EQUIPMENT- Upon expiration or

termination of this Lease Agreement, provided LESSEE is not then in default
in the performance of any of the terms, conditions, covenants and
agreements herein contained, LESSEE may remove, as its expense, all of its
furniture and other equipment which may be removed without defacing or
causing damage to the Leased Premises, provided always that the LESSEE
shall repair all damages, ordinary wear and tear excepted, to the Leased
Premises caused by the removal of said furniture or equipment. Any
immovable fixtures and other equipment installed by the LESSEE shall form
part of the unit and may not be removed even if this contract expires or has
terminated.

5. SUBLEASE and ASSIGNMENT- LESSEE shall not directly

sublease, assign, transfer, convey, mortgage or in anyway encumber his right
of lease over the Leased Premises or any portion thereof.

6. USE, TENANTABLE AND SECURE CONDITION - LESSEE hereby

expressly acknowledges that, upon execution of the Lease Agreement, the
Leased Premises are in good and tenantable condition. LESSEE shall keep the
same in good, clean and tenantable condition at all times, promptly and
properly repair any damage in the Leased Premises, and provide security in
the ordinary course of operations thereof. LESSEE, its officers, employees
and authorized personnel, shall use the Leased Premises only for commercial
purposes. LESSEE shall not keep, deposit or store in the Leased Premises any
obnoxious substances or inflammable materials that might constitute a fire
hazard or any danger. LESSEE shall promptly inform LESSOR of any
damage, defect or similar condition (for whatever cause) within the Leased
Premises. In the event that the LESSEE fails to undertake the maintenance
and repair works as stipulated herein, the LESSOR may opt for itself to cause
the works and charge the cost thereof for the account of the LESSEE. Repair
or maintenance works shall be done by the LESSEE for the LESSEE’s own
account.

7. PAYMENT OF UTILITIES- LESSEE shall pay promptly expenses

for the light, water, telephone bills, and other utility services.
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8. NON-LIABILITY- LESSEE shall hold LESSOR free and harmless

from any liability or responsibility for damages or injury to any person or
property arising out of or as a consequences of this Lease Agreement, or the
use of the Leased Premises by the LESSEE, or the use of the other leased
units by their respective occupants at the building where the Leased Premises
is located, where the same is not directly due to the fault or gross negligence
of LESSOR or its agents.

9. RIGHT TO VISIT- LESSOR shall have a right to visit the Leased

Premises anytime during the period of this Lease Agreement.

10. ABANDONMENT- In case the Leased Premises is left unused for

more than two (2) months without written notice to the LESSOR, LESSOR
may, at its option, consider the Leased Premises abandoned and forthwith
terminate this Lease Agreement without further notice. Upon its termination,
LESSOR shall have the right to force open and enter the Leased Premises,
take inventory and possessions of all furniture, effects and/or materials found
therein, remove the same from the Leased Premises, and/or place them in
storage. If necessary, LESSOR shall charge such storage charges to LESSEE.
The LESSOR is entitled to whatever right, power, authority and protection
granted under paragraph hereto before the expiration of the Lease
Agreement, and the security deposit given by the LESSEE shall be forfeited in
favor of the LESSOR which shall be applied in payment for unpaid bills of
MERALCO, Telephone, etc., and for the repairs of destroyed parts of the
Leased Premises, without prejudice to any further claim by the LESSOR for
damages from and/or against the LESSEE.

11. DEFAULT- In the event of failure by LESSEE to pay the monthly

rental, or in case of any breach of any or all conditions, covenants or terms of
this Lease Agreement by LESSEE, which breach is not cured or remedied by
LESSEE within fifteen (15) days from the date of the occurrence of the
breach, then, LESSOR shall have the further right to eject LESSEE from the
Leased Premises and to recover all amounts due as rentals, and/or other
actual charges payable by the LESSEE hereunder, with interest thereon at the
rate of four percent (4%) per month from the date of delinquency, as well as
actual damages including reasonable actual attorney’s fees and cost of
litigation resulting from such breach or delinquency. In addition to the
foregoing immediate provisions, the LESSOR shall have the option to forfeit
any all advanced rentals and security deposits paid by the LESSEE to the
LESSOR.

12. LOCK-OUT- In the event of default by LESSEE as herein above

provided, and after due notice has been given by LESSOR to LESSEE of the
termination of this Lease Agreement, LESSOR shall have right and authority
to padlock the Leased Premises, and to prevent LESSEE, and its agents from
entering the Leased Premises, except to settle LESSEE’s outstanding
obligations, provided that LESSEE shall not remove any of its properties from
the Leased Premises until full settlement of its obligation to LESSOR. It is
understood that LESSOR shall have the right to take an inventory, withhold
release of and/or place in storage any property belonging to LESSEE and/or
its sub-lessees, if any, as security for the payment of its obligations
hereunder. The LESSOR is likewise expressly empowered and authorized as
attorney-in-fact of LESSEE to dispose of or sell the said properties at public
auction to answer for all cost and charges owed by the LESSEE to the
LESSOR, without being answerable for any criminal or civil liability arising
therefrom. In addition to the above provision, the LESSOR shall have the
right to disconnect water and electricity supply in the event the LESSEE fails
to pay monthly rental, defaults or breaches any conditions, terms and
covenants of this Lease Agreement. However, electric and/or water supply
shall resume and be restored within forty eight (48) hours from settlement of
unpaid accounts or breach is cured by the LESSEE in cases as referred to in
paragraph 13 hereof and payment of reconnection fee, if any, as charged by
their respective service providers.

13. TERMINATION AND CANCELLATION OF LEASE- This Lease

Agreement shall automatically terminate upon the happening of any of the
following events:
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13.1 The expiration of the stated Term.

13.2 Default of failure of the LESSEE to comply with any of the terms
of this Lease Agreement;
13.3 Abandonment of the Leased Unit under paragraph 10; and
13.4 The use by LESSEE of the Leased Premises is in contravention
of the restrictions contained in this Lease Agreement.

14. NON-WAIVER OF RIGHTS- The reference in this Lease

Agreement to any particular remedy shall not preclude the parties from
availing of other remedies in law. Failure or delay of LESSOR to insist, once
or in several instances on the strict performance by LESSEE of any stipulation
or condition of this Lease Agreement or to exercise any right or option herein
shall not be construed as abandonment, withdrawal, waiver or cancellation of
such stipulation, condition or gift or option.

15. BINDING EFFECT- All the terms, covenants, conditions and

provisions of this Lease Agreement shall be binding and enforceable upon the
parties and their heirs, successors-in-interest, and assigns.

16. ENTIRE AGREEMENT- This Lease Agreement supersedes and

renders void any and all agreements, oral and/or written, previously entered
into between the parties with respect to the Leased Premises, and this
contract may not hereafter by modified or altered except by a written
instrument duly signed by the parties hereto.

17. RENEWAL OF LEASE- This Lease Agreement may be renewed

upon mutual agreement by the parties for another one (1) year upon prior
written notice by the LESSEE to the LESSOR two (2) months before the
expiration of the Term hereunder, subject to a review and agreement by the
parties. If no notice to renew is received by the LESSOR, or the parties fail to
mutually agree on the rental payments for the renewal period, the LESSEE
shall be deemed to have no intention of renewing this Lease Agreement and
the LESSOR shall be free to lease the Leased Premises to another lessee. In
such event, the LESSOR shall have the right to exhibit the Leased Premises
to prospective lessees during the last month of the Term; provided, however,
that prior notice shall be given to the LESSEE and that the same be
conducted during the business hours. The LESSOR may refuse to renew this
Lease Agreement on its own volition.

IN WITNESS WHEREOF, the parties have hereunto set their hands

on the date written above in Pasig City, Philippines.

JAMES ANTHONY D. BETITO REX OLIVER CORONEL TENGCO

for the LESSOR LESSEE
ERLINDA D. BETITO

SIGNED IN THE PRESENCE OF:

____________________ ___________________
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ACKNOWLEDGMENT

REPUBLIC OF THE PHILIPPINES )

_______________ ) S.S.

BEFORE ME, a Notary Public for and in the City of ___________, this
_____ day of ___________ 2016 personally appeared the following persons
with their respective Government ID numbers beside their names:

Name Gov’t ID No. Issued On Issued At

1. JAMES ANTHONY Driver’s License No.

D. BETITO NO2-02-004951

2. REX OLIVER CORONEL Driver’s License No.

TENGCO D19-05-000648

all known to me and to me known to be the same persons who executed the
foregoing instruments and they acknowledged to me that the same is their
own free and voluntary act and deed.

This instrument consisting of five (5) pages including this page where
this Acknowledgment appears, refers to the Lease Agreement and that the
same have been duly signed by the parties hereto and two instrumental
witnesses on each and every page hereof.

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

Doc. No. _____;

Page No. _____;
Book No. _____;
Series of 2017