CONTRACT OF LEASE

KNOW ALL MEN BY THESE PRESENTS:

This Contract of Lease (“Lease”), made and entered into this 10th day of
June 2015 at Pasig City, by and between:

LINO BROCKA, Filipino, of legal age, with address at 123 Apollo Street,
Moon City, hereinafter referred to as the ASSIGNOR;

-and-

CHARITO SOLIS, Filipino, of legal age, with address at 456 Sputnik

Road, Moon City, hereinafter referred to as the ASSIGNEE;

WITNESSETH THAT

WHEREAS, the LESSOR is the absolute and registered owner of a condominium

unit located at Unit 8B Forbeswood Heights Condominium, 26 th Street corner Rizal
Drive, Bonifacio Global City, Fort Bonifacio, Taguig City, hereinafter referred to as the
“Leased Premises”;

WHEREAS, the LESSEE desires to lease a portion of the Leased Premises and the
LESSOR is willing to lease unto the LESSEE under the terms and conditions set forth
below;

NOW THEREFORE, for and in consideration of the foregoing premises and the
mutual covenants and obligations hereinafter contained and to be performed, the
LESSOR hereby leases and the LESSEE hereby accepts, subject to the following terms
and conditions:

1. TERM. The Lease shall be for a period of one (1) year commencing on
16 October 2015 to 15 October 2016, with option to renew upon sixty (60) days
advance notice by the LESSEE and upon mutual agreement of both parties. The term
shall be guaranteed for one (1) year and no pre-termination by either party shall be
allowed.

1
 2. RENTAL. The parties hereby agree that the monthly rental of the Leased
Premises shall be TWENTY THOUSAND PESOS (Php 20,000.00) Philippine
Currency. All payments shall be made to the LESSOR.

3. SECURITY DEPOSIT. The LESSOR hereby acknowledges receipt of the

Security Deposit in the amount of SIXTY THOUSAND PESOS (Php 60,000.00),
Philippine Currency, given to the LESSOR prior to the execution of this Lease, which
shall guarantee the payment of any future damage to the Leased Premises, unpaid
utilities and other obligations to third parties by the LESSEE during the term  of the
Lease, which Security Deposit shall bear no interest.

4. UTILITY BILLS. All charges for gas, water, electricity, telephone,

internet, cable television and other similar public utilities used in the Leased Premises
shall be for the sole account of the LESSEE. The LESSEE hereby guarantees the prompt
payment of any and all charges heretofore mentioned as they fall due. Any delay in the
payment thereof for more than one (1) month shall constitute a material breach of this
Lease.

5. USE OF PREMISES. The LESSEE shall use the Leased Premises for
residential purposes only, and for no other purpose without the written consent of the
LESSOR. A maximum of four (4) adults shall reside in the Leased Premises at any one
time during the term. The LESSEE hereby agrees to abide by existing rules and
regulations of the condominium, and any other laws, ordinances, rules and regulations
governing the use of the Leased Premises.

6. ASSIGNMENT AND SUBLEASE. The LESSEE herein has the right to

assign or transfer its rights, interest and obligations under the Lease or sub-lease the
Leased Premises or any portion thereof to any person or entity, effective thirty (30)
days from written notice to the LESSOR.

7. WAIVER. In case of breach of any provision of this Lease by the LESSOR,

the LESSOR herein waives its right to raise the LESSEE’s lack of capacity to sue either
as a ground for the dismissal of or defense in the case.

8. IMPROVEMENTS. The LESSEE shall not make any alteration, structural

changes or improvement in the leased premises without the prior written consent of the
LESSOR. However, at the termination of the Lease, the same not having been renewed
by the parties, the LESSEE shall restore the Leased Premises in its original state existing
at the commencement of the Lease. Restoration of the Leased Premises shall be for the
exclusive account of the LESSEE. Any improvement after the Lease is terminated and
after the LESSEE shall have vacated the premises, shall belong to the LESSOR without
any obligation on the latter’s part to refund its cost or value to the LESSEE.

2
 9. INSURANCE. The LESSOR shall insure the Leased Premises against fire.
Should the Leased Premises be damaged by fire, earthquake, storm or any fortuitous
events to the extent that the same be rendered untenantable, this Lease shall be
automatically cancelled and the deposit as well as the unused portion of the advance
rentals refunded within sixty (60) days, less any unpaid obligation of the LESSEE.

10. REPAIRS. The LESSEE shall keep the Leased Premises clean and in
sanitary condition. The LESSEE has inspected the Leased Premises and found the same
to be in good and tenantable condition.

Except as otherwise provided herein, the LESSOR shall be responsible for the
maintenance, cost of termite control and other major repairs on the Leased Premises,
except for repairs due to the fault or negligence of the LESSEE. It is further agreed
that all repairs to be undertaken by the LESSOR as stipulated in this Lease shall be
attended to immediately, or no later than five (5) days from the time the LESSEE
notifies the LESSOR of such needed repairs. Should the LESSOR fail to respond within
the five-day period, the LESSEE shall have the right to make the repairs and the
LESSOR agrees to make direct payment or reimburse the LESSEE for the cost of such
repairs. Conversely, the same provision shall apply in relation to damages upon the
Leased Premises attributable and for the account of the LESSEE.

10.1. The LESSEE shall repair, replace or restore major/minor damage in

the Leased Premises arising from the fault or negligence of the LESSEE or it’s
employees occupying the Leased Premises and/or any member of the LESSEE’s
guests or visitors, at the LESSEE’s expense.

10.2. Minor repairs which do not exceed FIVE THOUSAND PESOS

(Php 5,000.00), Philippine Currency, shall be for the account of the LESSEE,
such as: replacement of light bulbs and fuses, breakage of faucet handles,
drawer or cabinet pulls and catches, keys and locks, toilet seats and water tank
covers, electrical switches or outlets and buzzers, minor faucet leaks damaged
door knobs and cleaning and servicing and minor services for the maintenance of
air-conditioning units.

11. INSPECTION OF PREMISES. To ensure that the Leased Premises is

being maintained in good and tenantable condition, the LESSOR or his authorized
representative is hereby given the right after due notice, to enter and inspect any part
of the Leased Premises during reasonable hours of the day and as the occasion thereof
might require.

12. TAXES AND INSURANCE PREMIUMS. Real estate taxes, national and
local taxes, government assessments and fire insurance premiums and charges shall be
for the LESSOR’s account. However, insurance charges for the properties of the
LESSEE within the Leased Premises shall be for the LESSEE’s account.

3
 13. INJURY OR DAMAGE. The LESSEE hereby assumes the full
responsibility for any damage which may be caused to the person or property of any
third person in the Leased Premises during the duration of the Lease arising out of the
use of the Leased Premises by the LESSEE, its employees, agents, domestic help and
guests. The LESSEE further binds himself to hold the LESSOR free and harmless from
damages as a result thereof, unless such damage or liability arose out of structural or
other inherent defects in the Leased Premises or is due to the fault of the LESSOR, his
agent or representatives. Further, where such damage or liability is caused by a
fortuitous event or an act of God, such as, but not limited to, typhoons, earthquakes,
floods, which are beyond the control of the LESSEE, the latter shall not be responsible
to the LESSOR.

14. SALE, TRANSFER OR MORTGAGE OF THE LEASED PREMISES. The

LESSEE recognizes the right of the LESSOR to sell, transfer, mortgage or otherwise
convey or encumber the ownership of the Leased Premises to any other interested
party, provided the LESSEE shall be given written notice in advance and that the
LESSOR shall undertake and guarantee that the LESSEE’s rights under this Lease are
respected.

15. VIOLATIONS. Either party may, at its option, consider this Lease
automatically rescinded and canceled, without need of any court action, upon ten (10)
days written notice given to the other party, based on any of the following grounds:

a. Failure of the LESSEE to pay two (2) months advance rental and
other bills or charges heretofore mentioned as they fall due for any reason
whatsoever within the period to pay;

b. For any violation made by the other party or its agents and
representatives of any of the terms and conditions stipulated in this Lease;

c. In case the Leased Premises shall be vacated or abandoned for a

period of thirty (30) days without prior written notice to the LESSOR.
Consequently, the LESSOR is hereby permitted and authorized by the LESSEE to
enter the premises, either by force or otherwise, without being liable to
prosecution therefore.

16. RETURN OF LEASED PREMISES. At the end of the term of the Lease,
the LESSEE shall quietly and immediately vacate the Leased Premises and return
possession of the Leased Premises to the LESSOR unless the term of this Lease is
extended or renewed. Thirty (30) days prior to the end of the term of the Lease,
without the LESSEE notifying the LESSOR of its intention to renew the Lease, the
LESSOR may show the Leased Premises to prospective tenants through his
representatives, at reasonable hours of the day and with advance notice to the LESSEE.

4
 17. ATTORNEY'S FEES. In case either party resorts to judicial action based
upon or in connection with this Lease, the guilty party hereby agrees to pay attorney's
fee and liquidated damages equivalent to twenty five (25%) of the total amount
involved or claimed by the aggrieved party as against the guilty party plus all court
expenses and/or costs of litigation.

18. COURT VENUE. All court actions from this Lease shall be filed only in the
Courts of Pasig City to exclusion of all other courts.

19. TIME IS OF THE ESSENCE. Time is of the essence in the performance

of the respective obligations under this Contract and any waiver by the LESSOR of a
breach of any term, covenant or condition herein contained, whether express or
implied, shall not constitute of a waiver of any subsequent breach thereof, or a breach
of covenant to pay the rent so accepted. No waiver by the LESSOR shall be deemed to
have been made unless expressed in writing and signed by the LESSOR.

20. SUCCESSORS AND ASSIGNS. This Lease shall bind and inure to the
benefits of the successors and assigns of the LESSOR and of the permitted successors
and assigns of the LESSEE.

IN WITNESS WHEREOF, the parties have hereunto set their hands on the date
and at the place above-written.

LINO BROCKA CHARITO SOLIS

LESSOR LESSEE

Signed in the Presence of:

__________________________ __________________________

5
 ACKNOWLEDGMENT

REPUBLIC OF THE PHILIPPINES )

TAGUIG CITY )S.S.
 

BEFORE ME, a Notary Public for and in the City of Taguig, personally appeared
the following:

Name Driver’s Date/Place Issued

License/SSS/Passport No.

Expires / LTO East

Driver’s License No.
Avenue, Quezon City

Passport No. Expires /DFA Manila

known to me to be the same persons who executed the foregoing Contract of Lease
consisting of six (6) pages including this acknowledgment, signed by the parties and
their instrumental witnesses and who acknowledged to me that they were duly
authorized to execute the said document on their behalf or whom they represent and
the same is their free and voluntary act and deed.

WITNESS MY HAND AND SEAL, this ____ day of October 2015 at Pasig City,
Philippines.

Doc. No. ___;

Page No. ___;
Book No. ___;
Series of 2015.