CONTRACT OF LEASE

KNOW ALL MEN BY THESE PRESENTS:

This contract of lease made and executed this ________ day of ____________, in
the City of _________________, Philippines by and between:

ANNA MARIE A. VILLANUEVA, Filipino, of legal age, married, and

with residence at No.1 Latana St., Tahanan Village, Paranaque City,
hereinafter referred to as the LESSOR.
-And-
LA HEEJA, Korean national, of legal age, and with residence at
____________________________, and HONG SUNGBIN, Korean
national, of legal age, and with residence at
_________________________, hereinafter jointly referred to as the
LESSEES;

WITNESSETH THAT:

WHEREAS, the LESSOR is the holder of leasehold rights over Unit 421 of the Camp John
Hay Manor Hotel located in Baguio City, Philippines;

WHEREAS, the LESSEES are interested in leasing the above-named unit and the LESSOR is
amenable thereto;

NOW, THEREFORE, for and in consideration of the above premises and the condition herein
set forth the parties agree as follows;

1. LEASE PERIOD- The term of the lease shall be for a one year period commencing from
__________ until ________________________. Renewable upon mutual agreement of
the parties.

2. RENTAL, DEPOSIT AND UTILITY BILLS:

A. RENTAL: The parties have agreed and conformed to the lease payment of ONE
MILLION PESOS (Php 1,000,000.00) as lease payment for the entire 1-year lease
period payable upon signing of this Agreement.

B. SECURITY DEPOSIT: Payment of Security Deposit in the amount of

_____________________ PESOS ONLY. (Php._______________), Philippine
currency, payable upon execution hereof and refundable upon full term completion
or finish of contract.

The LESSOR shall keep the Security Deposit paid upon the signing of this contract
as a guaranty of full compliance of the lease period and/or to answer for the unpaid
utility bills, or any other monetary obligations resulting from the LESSEE'S
obligations with the right to refund on the remaining amount, if any.
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Contract of Lease – Camp John Hay Manor Hotel

It is expressly understood and agreed however that the liability of the LESSEE for
breach of contract or any liability for damages under this contract the LESSOR will
forfeit Security Deposit by way of penalty. The deposit shall not be applied as
rentals and shall be returned to LESSEE provided there is no other outstanding
obligation.

C. UTILITIES: All electric, water and any other utility bills, and the like, shall be for
the sole account and responsibility of the LESSEE. The LESSEE shall apply for
and pay directly to agencies concerned and defray at his exclusive expense, the
consumption of water, electric power, or other utility service system.

3. EXCLUSIVE USE OF PREMISES

The premises hereby leased shall be used exclusively for residential purposes. The
LESSEE shall not divert the premises to other uses without the prior consent of the
LESSOR. No subleasing is allowed.

4. UTILITIES

The LESSOR shall not be responsible for application, installation and maintenance
of all utility services, like water, electricity, telephone and gas connection and for
any liability or damages arising from the installation and use of such. Further, all
charges, deposits and monthly bills for all utility services shall be for the
LESSEE’S account.

5. TAXES AND ASSOCIATION DUES

The LESSEE agrees to pay all association dues imposed on the leased unit
as well as the real property taxes thereon during the period of the lease.

6. IMPROVEMENTS

i. The LESSEE shall not make or cause to be made any improvements in the
premises without prior consent of the LESSOR, it being understood that
such improvements in the premises shall be at the sole expense of the
LESSEE.

ii. Upon termination of this lease agreement, all permanent improvements

made by the LESSEE shall be turned-over to the LESSOR. The former
may not cause the removal of any improvements, structures or fixtures if
damage will be caused to the permanent improvements and/or the premises.

7. PROHIBITED MATERIAL/ACTS

i. The LESSEE shall not bring into the leased premises inflammable or
explosive materials nor install therein any apparatus, machinery or
equipment which expose the leased premises to fire or increase fire hazard
in the premises.

ii. The LESSEE shall see to it that no illegal gambling or other immoral or
illegal activities are conducted within premises.
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Contract of Lease – Camp John Hay Manor Hotel

8. REMEDIES OF THE LESSOR

i. Upon termination of the lease, and refusal or failure of the LESSEEs to

peacefully turn-over possession of the leased premises, the LESSOR and/or
any of her agents or representatives is given full authority to enter upon
premises, and without need of notice, demand or resort to judicial
proceedings, expel or padlock or lockout the LESSEE and any properties
and effects found in the premises. Relative thereto, the LESSOR and/or the
latter’s successors-in-interest, agents or representatives, is hereby
constituted as the LESSEE’S special attorney-in-fact with full authority to
enter upon the premises and without need of notice, demand or resort to
judicial proceedings, expel or padlock or lockout the LESSEE and all
properties and effects found in the premises.

ii. It is expressly agreed that should expulsion from the premises become
necessary, the LESSOR shall have the right and authority to cause the
removal of the all property or effects in the premises at the LESSEE’s
expense, and for this purpose the LESSOR is hereby constituted as the
LESSEE’S special attorney-in-fact with power to sell or otherwise dispose
of, for value or retain such portion of LESSEE’S property removed from
the premises, as would be sufficient to secure funds to answer for the
arrearages and/or charges against the LESSEE arising under this contract,
including cost of hauling and storage thereof. This special power of attorney
shall continue to subsist for so long as the LESSEE has unpaid obligations
arising out of this contract, it being an integral part of thereof, and the
LESSEE hereby expressly ratifies any and all acts performed by the
LESSOR in the exercise of the power and authority herein granted.

iii. In case the premises is deserted or abandoned or padlocked to indicate

abandonment by the LESSEE for any reason whatsoever before expiry of
the lease, or after its expiry, the LESSOR shall have the authority and right
to break open and enter the premises as agent of the LESSEE. The
premises being locked and the whereabouts of the LESSEE being unknown
to the LESSOR shall constitute abandonment.

iv. Any unpaid accounts of the LESSEE under this contract are hereby secured
by a pledge, which is hereby constituted in favor of the LESSOR on all
furniture, appliances and goods of the LESSEE inside the premises. This
pledge shall be sufficient authority for the LESSOR to hold such properties,
without need for a judicial order, until the arrears or accounts are fully paid;
and to dispose of such goods in any manner the LESSOR deems fit to raise
funds to pay such arrearages. The power and authority herein granted is in
addition to that provided for in the preceding paragraph of this contract.

9. DAMAGE DUE TO FORTUITOUS EVENTS:

i. The LESSEE undertakes to secure insurance on the unit based on its

appraised value against fire, earthquake, war or any unforeseen cause. In
case of damage to the premises by fire, earthquake, war or any unforeseen
cause, the LESSEE shall give immediate notice to the LESSOR. If the
leased premises be damaged by fire or cause other than the fault or
negligence of the LESSEE, then either party may demand rescission of this
contract without right of compensation. In the above-mentioned instances,
the insurance proceeds due by reason thereof shall be assigned by the
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Contract of Lease – Camp John Hay Manor Hotel

LESSEE to the LESSOR in proportion to the LESSOR’s interest thereon

at the time of the occurrence thereof.

ii. No compensation or claim shall be allowed against the LESSOR by reason

of inconvenience, annoyance, or injury to business arising out of the
necessity of repairing any portion of the building or its facilities.

10. RIGHT OF ENTRY OF LESSOR

The LESSOR or her authorized representative shall, after previous notice to

the LESSEE, have the right to enter the leased premises at any time during
regular business hours to examine the same or make alteration or repairs or
for any purpose which it may deem necessary for the condition or
maintenance of the building or installation, and during the last three months
of the term of the lease, to exhibit the leased premises to prospective
tenants.

11. NO LIABILITY FOR THE LESSOR

i. The LESSEE shall indemnify and hold harmless the LESSOR against all
actions, suits or damages by whomsoever that maybe brought by reason of
non observance or non performance of rules, regulations, ordinances, laws
or covenants in this contract by the LESSEE, without prejudice to the right
of the LESSOR to cancel the lease.

ii. The LESSEE agrees that the LESSOR shall not be liable for any damage or
liability of any kind for injury to persons or property for any cause
whatsoever by reason of the use, occupancy and enjoyment of the leased
premises by the LESSEE. The LESSOR shall not be liable for the presence
of bugs, vermins, etc. in premises nor the failure of water supply or electric
service.

iii. Disturbances or discontinuance in the used of the leased premises caused by

circumstances beyond control of the LESSOR shall confer no right of any
kind to the LESSEE as against the LESSOR.

12. OTHER PROVISIONS

i. The failure of the LESSOR to insist upon strict performance of any of the
terms and conditions contained therein shall not be deemed as
relinquishment or waiver of any right or remedy that said LESSOR may
have. No waiver by the LESSOR for any right under this contract will be
deemed to have been unless expressed in writing signed by the former.

ii. The LESSOR reserves the right to assign her interest in this lease contract
to any other corporation or individuals subject to subsequent notice hereof
to the LESSEE. In the event of an assignment of interest by the LESSOR,
the latter shall include as proviso in the assignment an undertaking by the
assignee to recognize and comply with the terms and conditions of this lease
agreement. The LESSEEs do not have any right to assign their lease rights
to any other party.

iii. The LESSEE hereby warrant that they have read and understood all the
foregoing provisions of this contract of lease and shall abide by the same.
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Contract of Lease – Camp John Hay Manor Hotel

The LESSOR likewise undertakes to comply with its own representations

under the contract.

iv. For all intents and purposes, notices, correspondences, processes shall be
directed to LESSEE at the LEASED PREMISES subject hereof by
registered mail or personal delivery at the premises, any of which manner of
service shall be deemed complete service and notice to LESSEE, regardless
whether such notice or process is refused acceptance or that there is no
person found in the premises.

IN WITNESS WHEREOF, parties herein have affixed their signatures on the date and place
first above written.

ANNA MARIE A. VILLANUEVA

LESSOR

LA HEEJA and HONG SUNGBIN

LESSEES

SIGNED IN THE PRESENCE OF:

_________________________ ______________________

Republic of the Philippines )

City of ________________ ) S.S.

ACKNOWLEDGEMENT

BEFORE ME, a Notary Public, this ______ day of ______, 2021, personally appeared the
following who presented competent proof of identity as follows:

Name ID/No. Date & Place Issued

ANNA MARIE A. VILLANUEVA

LA HEEJA
HONG SUNGBIN

The foregoing are known to me and known to be the same persons who have executed the
foregoing instrument and acknowledged to me that the same is their own free will and voluntary
act and deed as well as that of the corporation herein represented.

The foregoing instrument, referring to a Contract of Lease, consists of _____ (_____) pages
including the page wherein this acknowledgement is written.
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Contract of Lease – Camp John Hay Manor Hotel

IN WITNESS WHEREOF, I have hereunto signed and sealed these presents at the place and on
the date herein above written.

Doc. No. _____________

Page No. _____________
Book No. _____________
Series of 2021