CONTRACT OF LEASE

This Lease Contract made and entered into this x x x x x x by and between:
x x x x x x, a corporation duly organized and existing under and by virtue of the laws of the Republic of the
Philippines, with principal place of business at x x x x x, herein represented by its President, x x x x x, hereinafter
referred to as the "LESSOR",

x x x x x x a corporation duly organized and existing under and by virtue of the laws- of the Republic of the
Philippines, with principal place of business at x x x x x, herein represented by its, President, x x x x x, hereinafter
referred to as the "LESSEE".
WITNESSETH:
That for and in consideration of the premises and the mutual promises contained in the stipulations hereinafter set
forth, the parties hereto have agreed and do hereby agree as follows:
1. That the LESSOR is the registered owner of the x x x x x Building located at x x x x x, consisting of three
stories.

2. OBJECT OF LEASE-

For and in consideration of the payment of the rent and of the faithful compliance with all the
conditions and covenants hereinafter contained, the LESSOR has agreed to lease unto the LESSEE and the
LESSEE hereby agrees to lease from the LESSOR the premises consisting of rentable office space
comprising approximately 25.00 square meters, being a portion of the building (the "Leased Premises").

This lease does not extend to the outside portion of the building corresponding to or opposite the
Leased Premises. Other advertising medium, if applicable, shall not be construed as an extension of this
lease to the outside portion of the building in accordance with the provisions of Section 11 hereof.

3. RENTAL AMOUNT-

The LESSEE shall pay a monthly rental rate of x x x x x and 00/100 (Pxx,xxx.xx), Philippine
currency, inclusive of all applicable taxes, national and/or local, less applicable withholding tax which the
LESSEE is required to withhold and remit to the Bureau of Internal Revenue. The monthly rental shall be paid
in advance by Post Dated Checks payable to Sanvel Realty Corporation to the LESSOR on or before the
5th day of each calendar month.
Rental payments for each year shall be covered by twelve post-dated checks as described herein, each of
which bearing the amount of the monthly rental rate due to the LESSOR for its corresponding calendar month.
All twelve post-dated checks are to be delivered to the LESSOR twenty (20) calendar days prior to the
beginning of each year of the lease.

In case of non-payment on the due date of monthly rental or of any other amount due from the
LESSEE to the LESSOR under this Contract, including but not limited to the electricity bill and other utility
charges, the amount owing shall carry a penalty equivalent to 10% of the unpaid portion, exclusive of
applicable taxes, provided the non-payment does not exceed thirty (30) banking days from due date.
In the event that the nonpayment as aforedescribed exceeds thirty (30) banking days, this Contract may be
automatically terminated by the LESSOR without prejudice to the LESSOR’s exercising its rights under
Section 21 of this Contract. In addition, a fee of Two Thousand (Php2,000.00) Pesos shall be imposed for
every dishonored check in payments of the rent, without Checks Law or any pertinent law, as well as to
terminate this Contract immediately without need of judicial action.

In case of extraordinary inflation as provided for in Article 1250 of the New Civil Code of the
Philippines, the value of the currency stipulated at the time of the establishment of the obligation shall be the
basis of payment as officially issued by the Bangko Sentral ng Pilipinas (BSP).

The LESSOR exclusively reserves the right to review the rental rates for purposes of adjustment
from time to time, should the BSP official guiding rate of the Philippine pesos vis-à-vis the US Dollar, present
at P51.00 to $1.00 be higher by 10% or more, or should the average rental rates of the buildings in General
Trias Drive, Tejero, Rosario, Cavite, which are comparable to the premises leased herein, increase by 15% or
more as evidenced by applicable legitimate authentic documents available, showing the increase in the
average rental rates. Any adjustment in rental as a result of the aforesaid review of the rates by the LESSOR

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 will be then subject to negotiations between LESSOR AND LESSEE and will be fixed at an amount
acceptable to both parties. Any new adjusted rate cannot be subjected to another review or readjustment for a
period of twelve months from its effect date. In the event that a renewal of the rate based on the foregoing
circumstances is necessary, the first renewal shall not take place earlier than 12 months from the date of the
execution of this Contract.”

4. VALUE ADDED TAX

The LESSOR shall separately bill the applicable VAT for the rentals of the lease and other charges
due and issue upon payment by the LESSEE an “Official Receipt” showing itemized breakdown and
computations of the payments received to which will include but not limited to the showing of the VAT
separately in such Official Receipt.

5. SECURITY DEPOSIT –

Upon execution of this Contract and before occupancy of the Leased Premises, the LESSEE shall
deposit with the LESSOR in the form of cash or a current dated company checks the amount of Thirty One
Thousand Five Hundred and 00/100 Pesos (P 31,500.00) representing three (3) months security deposit. The
three (3) months security deposit shall be returned without interest by the LESSOR to the LESSEE within
thirty (30) days upon the termination of this Contract less whatever sum or sums as may then be owing the
LESSOR at the time, which shall include but not limited to, any damage that has been caused to the Leased
Premises or to any part of the building or any facilities therein which may be attributable to the fault or
negligence of the LESSEE, its employees, agents, guests or visitors and only after all bills chargeable to the
LESSEE are paid. This deposit shall be considered forfeited to the LESSOR in case (1) the LESSEE vacates
the premises before the termination of the Contract, but without, however, absolving the LESSEE from its
responsibility to the LESSOR for the rentals corresponding to the remaining period of the lease; or (2) the
Contract is terminated due to non-payment of rental and other amounts due the LESSOR under Section 3
hereof.

Notwithstanding any provisions in this Contract to the contrary, the parties hereto have expressly
agreed that any pre-termination of this Contract by the LESSEE within the first six (6) months without valid
reason, or other than for violation or breach of contract by the LESSOR or serious business losses by the
LESSEE, as herein below provided in favor of the LESSOR as liquidated damages and penalty without
benefit of reimbursement and without prejudice to any other damages that the LESSOR may actually incur as
a consequence thereof and other penalties as herein stipulated in this Contract Provided further, as the
parties hereto have expressly agreed, notwithstanding any provisions in this Contract to the contrary, that
either of the parties to this Contract may terminate this Contract before the expiration of the lease period as
herein stipulated, by prior written notice to terminate the lease not earlier than one (1) month before the
intended expiry date as provided for in Section 6 hereof.

6. TERM OF AGREEMENT: TERMINATION OF AGREEMENT

This Contract shall commence on January 1, 2022 and shall expire December 31, 2022 renewable
thereafter for a period of one year upon mutual consent of both parties; provided, however, that at least one
(1) month prior to the expiration of the term of the lease, the LESSEE shall notify the LESSOR in writing of its
desire to extend the lease at which time a renewal can be negotiated on mutually agreed terms. Failure to
notify or complete negotiations on the above specified time will mean the LESSEE's waiver of its right to first
refusal. Within the three (3) months period prior to expiry date of this Contract subject premises will be open
for possible lease to other prospective tenants, and the LESSEE during that time grants the LESSOR
authority to show to other prospective tenants the subject premises at reasonable hours and with prior notice
to the existing LESSEE without being held liable for trespassing, until and unless the renewal contract will
have been executed.

The LESSEE shall have the option to terminate the Contract of Lease even before the end of the
lease period by giving the LESSOR one (1) month notice in writing to terminate the contract subject to the
provisions of Section 5 of this Lease Contract pertaining to "DEPOSIT" if the pre-termination is made without a
valid reason. Subject to Section 21 of this Agreement, the LESSOR shall have the right to terminate the lease
contract upon written notice to the LESSEE under the following conditions:

(i) Delay in the payment of monthly rental exceeding thirty (30) days
(ii) Violation of any term or condition of this agreement not rectified by the LESSEE within 10
calendar day from written notice of the violations.

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 At the expiration of the term of the lease or the termination of the Agreement as provided in the
preceding paragraphs, the LESSEE shall immediately surrender the Leased Premises to the LESSOR. If the
LESSEE fails to do so, the LESSOR may choose to enter upon and take possession of the Leased Premises
and expel or remove the LESSEE and any person who may be occupying said premises or any part thereof,
and the LESSEE hereby waives any right to institute any action against the LESSOR on account of any
damage sustained thereby.

The LESSEE agrees to indemnify the LESSOR for all damages which the LESSOR shall suffer by
reason of the LESSEE's failure to immediately surrender the Leased Premises, including any damages that
the LESSOR may suffer in expelling the LESSEE from the Leased Premises, ordinary wear and tear
excluded. The LESSEE also agrees to pay the LESSOR the sum equivalent to two (2) times the current rental
rate for each and every day that it fails to surrender the leased premises to the LESSOR.

The LESSOR by availing itself of the rights under this Section shall not be deemed to have waived
any of its rights granted under the other sections of this Agreement and under the applicable law, and the
LESSEE acknowledges that the rights granted the LESSOR under this Section shall be considered as being
in addition to and not in exclusion of the LESSOR'S other rights provided under this Agreement and the
applicable law.

7. USE OF PREMISES –

The premises hereby leased shall be used exclusively by the LESSEE for the following purposes:

Office and Other Related Uses

The LESSEE shall not use the leased premises for dwelling or sleeping purposes. The premises
hereby leased shall be used exclusively by the LESSEE for office purposes and the latter shall not divert the
premises to other uses without the prior written consent of the LESSOR; it being expressly agreed that if, at
any time during the existence of this Contract, and without the previous written consent of the LESSOR, the
said premises are used for other purposes, the LESSOR has the choice to (a) rescind this Contract in
accordance with Section 21 hereof, or (b) increase the rent or (c) compel the LESSEE to desist from using the
leased premises for such other purposes.

8. CARE OF PREMISES –

The LESSOR shall provide and pay for the housekeeping and maintenance including pest control
services for the common areas (that is, lobbies, comfort rooms, stairwells, and maintenance and machine
rooms). Common areas refer to floors where there are two or more tenants and are open to public use. Costs
of maintaining common areas of a certain floor shall be allocated and charged among the lessees occupying
the floor based on gross space leased subject to the issuance of an Official Receipt by the LESSOR upon
payment by the LESSEE of the corresponding charge as contemplated by Section 4 of this Contract. The
LESSEE, unless it has its own janitors under its employ, should, for security reasons, make use of the janitors
of the LESSOR not subject to any further charges. The LESSEE shall at its expense see to it that the Leased
Premises are kept in a clean and sanitary condition, free from noxious odours, disturbing noises, and other
nuisance. The LESSEE shall not drive nails, screws, hooks, or other abutments on the walls, frames or other
portions of the building or otherwise deface or damage any part of the premises of the building. Any damage
to the building or any part hereof caused or done by the LESSEE shall be ordered repaired by the LESSOR
for the account of the LESSEE.

The LESSEE agrees to comply, at its own cost and expenses, with the requirements of all municipal
ordinances regarding the disposal of its garbage, refuse and other waste matter, and the maintenance of the
necessary receptacles for such purposes within the premises or at such places as may be designated by the
LESSOR. The LESSEE shall not obstruct the sidewalks, entries, passages, corridors, fire exits, stairways and
lobbies of the building or use the same for any purpose other than for ingress to or egress from the office of
the building.

9. ALTERATIONS AND ADDITIONS –

The LESSEE undertakes and agrees not to make any alterations in, additions to, or improvements
upon, the leased premises without the written consent of the LESSOR, provided, however, that all such
alterations in, additions to, or improvements upon, the said leased premises made by the LESSEE, with the
consent of the LESSOR, shall forthwith, upon the termination of this Contract, be removed therefrom by the
LESSEE, at its expense, the said LESSEE further undertaking and agreeing to leave the said premises in the

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 same condition in which the said LESSEE received them unless the LESSOR, at no cost to the latter, chooses
to keep the said alterations, additions, or improvements as owner thereof, with the exception of movable
furniture and fixtures put in at the expense of the LESSEE and removable without defacing or injuring the
building or the leased premises.

10. SIGNS –

No notice, sign or any medium of advertisement shall be put up, hung, or painted on any part of the
building, inside or outside, without first obtaining the written consent of the LESSOR. The painting, installing or
affixing of business notice, signs or other advertising medium in accordance with this paragraph shall not be
construed as an extension of this lease to a portion of the building not specified under Section 2 of this
Contract.

11. RESTRICTIONS –

The LESSEE agrees not to bring into, or store in, the leased premises any highly inflammable or
explosive substances, or any other article which the LESSOR may reasonably prohibit, or to install and
operate any equipment, machinery or apparatus which would cause tremors or otherwise constitute a
nuisance to the occupants of the building, or to conduct its business in such a way as to cause tremors or
otherwise constitute a nuisance to the occupants of the building, or to conduct its business in such a way as to
create fire hazards or increase the insurance rate of the building. Any increase in the rate of the insurance
payable by the LESSOR arising from the manner in which the LESSEE uses the Leased Premises other than
the permitted use, shall be borne by the LESSEE. The LESSEE, its employees and agents shall not bring into
or use within the Leased Premises any of the above or other cooking or heating device of whatever nature
without the prior written consent of the LESSOR.

12. RULES AND REGULATIONS –

The LESSEE shall comply with all the health, safety and other reasonable rules and regulations
applicable to lessees of real property which have been promulgated, as well as those which will be,
promulgated by the LESSOR or the Administrator of the Building, and/or the local or national authorities in
connection with, or related to, the use, occupancy and sanitation of the leased premises excluding any rules
requesting capital improvements or alteration to the premises.

The LESSEE shall hold free and harmless and indemnify the LESSOR against all actions, suits,
damages and claims by whomsoever that may be brought or made by reason of the nonobservance or non-
performance of the said rules, regulations, ordinances or laws or of any of the covenants of this section,
without prejudice to the right of the LESSOR to cancel this Contract in accordance with the provisions herein.
The LESSEE hereby assumes full responsibility for any damage which may be caused to the person or
property of third persons while remaining either casually or on business in any part of the premises leased to
the LESSEE and further binds itself to hold the LESSOR free and harmless from any such claim for injury or
damage unless such injury or damage is due to the fault or gross negligence of the LESSOR.

13. UTILITIES AND FEES –

All charges for electric current janitorial services and other public services or utilities used in
connection with the Leased Premises and for the inspection of electrical conveniences and appliances
installed by the LESSEE within the leased premises shall be for the account of the LESSEE. Electric current
shall be obtained by the LESSEE from the LESSOR through the general meter in the building and the charges
for such electric current attributable to LESSEE's use shall be billed by the LESSOR and shall be
reimbursed/paid by the LESSEE to the LESSOR on or before the fifth (5th) day of the succeeding month as
an addition to, and together with the advance payment of the monthly rental as agreed upon in this Contract.
Non-payment on due of billings for such electric charges shall be covered by the provisions of Section 3
hereof.

14. SECURITY SERVICE –

For security reasons, no furniture, equipment, etc. of any kind will be allowed to be carried out of the
building without having previously secured a gate pass from the LESSOR. A gate pass signed by an
authorized officer of the LESSOR will accompany all packages, bags and cartons, equipment and furniture
desired to be taken out of the building by the LESSEE.

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 The LESSEE agrees to comply with the LESSOR's building security procedures such as wearing of
IDs, search of bags and baggage’s, screening of visitors, and any other reasonable security measures which
may, from time to time, be imposed by the LESSOR.
Any additional security that shall be required by the LESSEE for its premises shall be for its account.
The names and particulars of security guards to be contracted for such purposes shall first be furnished to the
Building Administrator, and the LESSOR for reasons of security, reserves the right to require the LESSEE to
change the said guards.

15. INSPECTION OF PREMISES AND REPAIRS –

By previous arrangement with the LESSEE, the LESSOR shall have the right and shall be allowed, to
enter the Leased Premises to inspect or examine the same and to make such repairs or alterations as may be
necessary, and for such other purposes related to the proper upkeep and maintenance of the building or its
installation, or for the decoration of the building or the leased premises, and during the last three (3) months of
the term of the lease, to exhibit the leased premises to prospective tenants. The LESSEE for its part shall
allow the maintenance or repairmen of the LESSOR free access to the premises whenever maintenance or
repair work is necessary. In the event that such maintenance or repair work should extend beyond the working
hours of the LESSEE, the latter shall, at its expense, provide the necessary guard(s) within its premises so
that no damage, pilferage or any untoward acts may happen within the leased premises while the repair or
maintenance work is being undertaken and the LESSEE hereby relieves and releases the LESSOR, its
officers and employees, from any and all liability that may be caused by such maintenance or repair work
unless the damage or loss is due to gross negligence on the part of the LESSOR, its agents, or employees.
Expenses for the repair of the alterations, additions, improvements and other fixtures introduced by the
LESSEE shall be for its account. Only the repair and maintenance of the structure and appurtenances of the
building existing before the term of this Contract shall be for the account of the LESSOR provided, however,
that such repair and maintenance is not occasioned by any fault of the LESSEE, its agents, employees or
visitors.

16. SUBLEASE –

The LESSEE shall not assign or transfer its rights in this Contract nor sublease all or any part of the
leased premises, and no right, title or interest thereto or therein shall be conferred on or vested in anyone
other than the LESSEE without the LESSOR's prior written consent.

17. PENALTY FOR BREACH OF AGREEMENT –

The LESSEE agrees to observe and follow the stipulations and conditions stated herein and itshall
be understood that any failure on its part to comply with the said obligations would give the LESSOR the right
to ask for the rescission of this Contract and indemnification for damages or only the latter, allowing this
Contract to remain in force, at the discretion of the LESSOR, without prejudice to other remedies provided in
this Contract.
Should it become necessary for the LESSOR to seek judicial relief against the LESSEE, the latter
shall be liable, in addition to the damages mentioned in the preceding paragraph, for twenty percent (20%) of
the damages claimed in the complaint, but not less than Two Thousand Pesos (P 2,000.00) as attorneys fees,
plus the cost of litigation and other expenses which court may entitle to the LESSOR to recover.

18. INJURY OR DAMAGE –

The LESSEE hereby assumes full responsibility for any damage which may be caused to the person
or property of third persons while remaining either casually or on business on any part of the premises leased
to the LESSEE and further binds itself to hold the LESSOR free and harmless from any such claims for injury
or damage unless such injury or damage is due to the gross negligence of the LESSOR.

The LESSOR shall not be liable, nor responsible: (a) for the presence of bugs, vermins, ants,
termites, insects, if any, in the Leased Premises; or (b) for the failure of water supply and/or electric current or
(c) for any article delivered to or left with any of its employees; or (d) for any injury, loss or damage which the
LESSEE, his agents or employees might sustain in damage done or occasioned by or arising from plumbing,
gas, water and/or other pipes, or the bursting, leaking or destruction of any cistern, tank, wash stand, water
closet or waste pipe in, above, upon or about said leased premises; or (e) for any damage arising from acts or
negligence of the LESSEE or its agents, employees, representatives or any and all other persons.

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19. DAMAGE TO LEASED PREMISES –

In case of damage to the Leased Premises or its appurtenances by fire, earthquake, war of any other
unforeseen cause, the LESSEE shall give immediate notice thereof to the LESSOR. If the leased premises
shall be damaged by fire or other cause without the fault or negligence of the LESSEE, as speedily as
possible, after such notice, or if the building or the Leased Premises be so near1y destroyed as to make it
untenantable, without the fault or neglect of the LESSEE, either party may demand the rescission of this
Contract.

The LESSEE shall be fully liable to the LESSOR in all cases where damage of any nature or kind is
caused by the LESSEE, its agents, employees or visitors.

No compensation or claim shall be allowed against the LESSOR by reason of inconvenience,

annoyance or injury to the LESSEE's business arising out of the necessity of repairing any portion of the
building, no matter how the necessity may arise.

20. WAIVER –

No delay in exercising or omission to exercise any right, power, remedy, or discretion exercisable by
the LESSOR under this Contract shall impair any such right power, remedy or discretion or be construed to be
a waiver thereof or an acquiescence in any default or breach, nor shall any action or inaction of the LESSOR
in respect of any default or breach or any acquiescence in any default or breach effect or impair any right,
power, remedy or discretion of the LESSOR in respect of any other default or breach (including a subsequent
default or breach).

21. ABANDONMENT OF LEASED PREMISES –

In case the leased premises shall be deserted or vacated before the expiration of this Contract, the
LESSOR shall have the right to enter the same as the agent of the LESSEE, either by force or otherwise,
without being liable to any prosecution therefore, and to relet the same as the agent of the LESSEE, and to
receive the rent therefore, and to apply the same to the payment of the rent due, holding the LESSEE liable
for any deficiency. Expenses for such releting shall be charged to the LESSEE. Absence from or
abandonment of the leased premises shall not relieve the LESSEE from his obligation under this Contract.

22. OTHER PROVISIONS –

The LESSOR is hereby granted possessory lien on all properties of the LESSEE used or situated on
the leased premises. If upon termination of this lease the lease rentals and other charges have not been fully
paid, the deposit referred to in Section 5 hereof shall be applied in satisfaction thereof. If such deposit is
insufficient, the LESSOR shat have the right to take possession of said properties of the LESSEE and the
LESSEE hereby fully authorizes the LESSOR to offset the prevailing value thereof as appraised by the
LESSOR against the unpaid rentals/charges. Excess, if any, shall be returned to the LESSEE.

23. VENUE –

Should it be necessary for either party to seek judicial relief in the event of breach of or for the
enforcement of the covenants contained in this Contract the matter shall forthwith be brought before any court
in the City of Pasig exercising lawful jurisdiction pursuant to the Revised Rules of Court as amended.

In the event that this Contract is declared null and void or is otherwise declared unlawful by any
instrumentality of the government or by any other entity with authority to exercise such power, or should the
leased premises become no longer useful for the purposes of this Contract either party may rescind this
Contract, upon giving the other party thirty (30) days previous written notice thereof. In cases of any
declaration of nullity, injunction or prohibition, the LESSEE hereby unconditionally relieves and releases the
LESSOR from any and all liability under this Contract or any other related contract in connection with or
arising out of such declaration of nullity injunction or prohibition, without prejudice to whatever recourse the
LESSEE may have against the instrumentality or entity on account of damage done or caused to it or its
properties or for the enforcement of the covenants contained in this Contract the matter shall forthwith be
brought before any court in the City of Makati to the exclusion of the other courts, at the option of the

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 LESSOR.

IN WITNESS WHEREOF, the parties hereto have caused this instrument to be duly executed on the day, month, year
and place herein above mentioned.

xxxxx xxxxx
Lessor Lessee

__________________________________ _____________________________
xxxxx xxxxx
President President

SIGNED IN THE PRESENCE OF:

_________________________________ ____________________________

ACKNOWLEDGMENT

REPUBLIC OF THE PHILIPPINES)

CITY OF ) S.S.

BEFORE ME, a Notary Public for and in ______________________ , this _______day of________________,
_______, personally appeared:

COMMUNITY TAX CERT NO./ DATE/PLACE

NAME PASSPORT OR ANY GOVT’S ISSUED ID ISSUED

x x x x x in his xxxxx
Capacity as President
of x x x x x

x x x x x in her
Capacity as President
of x x x x x x

Both known to me and by me known to be the same persons who executed the foregoing instrument and who
acknowledged to me that the same is their free and voluntary act and deed and the free and voluntary act and deed of
the corporations which they respectively represent
I further certify that this Contract of Lease, which consists of seven (7) pages, including the page on which this
Acknowledgment is written, has been signed by the parties and their instrumental witnesses on the left hand margin of
each page and every page and at the lower portion of Page 7 thereof.
IN TESTIMONY WHEREOF, I have hereunto set my hand and affixed my notarial seal this _____ day of
_____________________ at _________________________________, Republic of the Philippines.

Doc No. _____;

Page No. _______;
Book No. _______;
Series of ________