CONTRACT OF LEASE

(RESIDENTIAL UNIT)

KNOW ALL MEN BY THESE PRESENTS:

This Contract of Lease is entered into by and between:

IMELDA PEDROSA, Filipino, of legal age, widow and a resident of Brgy. Sta. Cruz Palo, Leyte ,
Philippines, herein represened by her brother, JERRY M. PEDROSA ,Filipino, of legal age, married, and a
resident of Pio Pedrosa Avenue corner San Roque Street, Brgy. Naga Naga, Palo, Leyte, Philippines, by
virtue of a Special Power of Attorney registered as Doc. No. 78, Page No. 16, Book No. IX, Series of 2015,
herein after referred to as the LESSOR;

-and-

__________________________________, Filipino, of legal age, __________ and a resident of Brgy.

Naga- Naga Palo, Leyte , Philippines, herein after referred to as the LESSEE;

WITHNESSETH
WHEREAS, the LESSOR is the owner of a certain real property, more particularly, a single residential
unit, situated in San Roque Street, Brgy. Naga-Naga Palo, Leyte, Philippines, as evidenced by Tax
Declaration No. ______________________.

WHEREAS, the LESSOR is offering for lease the said property (residential unit made of concrete with
colored roofing, 2 rooms, 1 bathroom, kitchen, with a total land area of _____square meters and the
LESSEE desires to rent out the said property/space;

WHEREFORE, for and consideration of above premises, the LESSOR hereby leases unto the LESSEE,
and the LESSEE hereby leases from the LESSOR the above-stated property, under the following terms and
conditions, to wit:

1. TERM OF THE LEASE- That the term of the lease shall be for _____ ( ) YEAR/S COMMENCING ON
, subject to extension upon the expiration of the said term,
upon mutual agreement of the parties or until it is revoked or terminated for cause and with
advance written notice by either of the parties;

2. PRETERMINATION- That the LESSEE may terminate this contract even before the end of the stipulated
lease period FOR A JUST/VALID CAUSE, provided written notice is made and served upon the LESSOR at
least TWO (2) MONTHS prior to the date of the LESSEE intends to vacate the leased premises;

3. CONSIDERATION AND PAYMENTS- That the monthly rental for the leased premises shall be
EIGHT THOUSAND FIVE HUNDRED PESOS (Php8,500.00), Philippine currency, to be paid by the
LESSEE on every 21st of each and every month. It is expressly agreed and understood that the
payment of the rental herein stipulated shall be made without the necessity of express demand
and without delay on any ground whatsoever. Further, such monthly rental shall be net of
withholding tax; therefore the LESSEE shall pay an equivalent of 5% on the monthly rental to the
Bureau of International Revenue;

4. SECURITY DEPOSIT AND ADVANCE PAYMENTS - That the LESSEE, upon signing this Contract, shall make
a non-interest bearing deposit with the LESSOR in the amount of SEVENTEEN THOUSAND PESOS (Php
17,000.00) Philippine currency, representing the following:
A. Equivalent to one month advance the amount of EIGHT THOUSSAND FIVE HUNDRED PESOS
(Php8,500.00) ;
 B. Equivalent to one month deposit the amount of EIGHT THOUSSAND FIVE HUNDRED PESOS
(Php8,500.00) ;

Such amount shall be applied and retained as Advance Payment and Security Deposit during the
Lease period, to take care of the unpaid bills such as electricity, telecommunications, and other
Utilities and including damages on the leased premises is chargeable thereto. Also to serve as
Guarantee for the faithful compliance of the provisions of this Contract. Any unused amount is
Refundable to the LESSEE without interest within sixty (60) days upon the expiration or pre-
termination of this Contract and upon presentation of proof of payments of the utility bills;

5. PURPOSE OF LEASE- That the LESSEE shall use the leased premises for its business purposes but shall
have no right to use the same in manner which shall have no right to use the same in a manner which shall
be hazardous to public health and safety. However, the LESSEE may use the leased premises for related
trainings and seminars even during night time as long as with no disturbance to the public;

6. MAINTENANCE AND UTILITIES- That the leased building shall be maintained in a tentable condition and
shall comply with all the sanitary rules and safety regulations which may be promulgated from time to time
by the government, national or local.

That any ordinary repairs of the leased premises arising in daily use thereof and its facilities shall be
at the expense of the LESSEE; That all electrical charges such as light and air-condtioner, gas ,
telephone used within the premises, shall be fore the ole account of the LESSEE and the shall be
paid and settled by the LESSEE at the end of the termination of this contact of lease;

Along this line the parties further agree that:

6.a The charges for the real property tax shall be at the sole account of the LESSOR and shall hold
the LESSEE free and without any obligation over the same;

6.b The upkeep and maintenance of the common places (stairs, parking area and etc) in the
building or leased premises used by the LESSEE shall be done by the LESSEE; if the LESSEE does not
voluntarily want to upkeep and maintain the common places, he shall be charged of FIFTY PESOS
(Php50.00) per week.

6.c The other utilities as well within the leased premises, the upkeep and maintenance shall be at
the account of the LESSEE;

6.d The parking space of the LESSEE shall be made of use to park their vehicles, and to hang and dry
their clothes. The LESSEE shall not make use of the terrace as a place to dry their clothes, since they
are provided with such space to do it;

6.e The installation and maintenance of the telephone and any other facilities, in accordance with
the requirements of the LESSEE, as well as the electric and water bills shall be exclusively for the
account of the LESSEE. The LESSOR shall be free and without any obligation from any claim for
unpaid utility bills made during the term of the contract;

7. FIXED IMPROVEMENTS- That the LESSEE shall not make any major structural changes, alternations in
the leased premises without the prior consent of the LESSOR. However , the value of any major alteration
and improvement made by the LESSEE in the leased premises shall be deducted from the rental due.
8.MAJOR/MINOR REPAIRS- All the ordinary repairs f the leased premises shall be fore the sole
account and expense of the LESSEE, without right to reimbursement. However, all renovations,
improvements and or additions to the building on the leased premises made by the LESSEE and
which may be removed without causing substantial damage to the premises, may be removed by
the LESSEE upon expiration or termination of the lease.

IN WITNESS WHEREOF, we have hereunto set our hands this _____________________________

In Palo, Leyte, Philippines.

IMELDA M. PEDROSA _________________________________________

LESSOR LESSEE

REPRESENTED BY:
JERRY M. PEDROSA
Attorney-in-Fact

Signed in the presence of:

______________________________________
SIGNATURE OVER PRINTED NAME

______________________________________
SIGNATURE OVER PRINTED NAME