CONTRACT OF LEASE

KNOW ALL MEN BY THESE PRESENTS:

This CONTRACT OF LEASE made and entered into by and between:

_____________________________________________________, all of legal age, Filipino with address at

_________________________________________________ hereinafter referred to as the LESSOR;

-and-

_______________________________________________________., a corporation duly organized and existing

under and by virtue of the laws of the Philippines, with principal address at
_________________________________________________________, represented herein by its Managing
Partner, _____________________________________, Deutsch, of legal age, and hereinafter referred to
as the “LESSEE”

W I T N E S S E T H:

WHEREAS, the LESSOR is the owner of a parcel of land covered under Transfer
Certificate of Title No. __________________________________________ with a total land area of 2,459
square meters situated ______________________________________________

WHEREAS, a portion of this land equivalent to 154 square meters, more or less, is
offered for leased and hereinafter referred to as the “LEASED PREMISES”

WHEREAS, the LESSOR desires to lease out the afore-described 154 square meters
LEASED PREMISES in favor of the LESSEE and the LESSEE accepts the lease subject to the
terms and conditions herein set forth.

WHEREAS, pursuant to a Board Resolution No. ____________, issued by the Board of

Directors of the LESSEE during its meeting held on ___________________, its MANAGING
PARTNER, __________________________________________, was authorized to sign, execute and
deliver this CONTRACT OF LEASE for and in behalf of the corporation. A certified copy of
the afore-stated Board Resolution is herewith attached and made an integral part hereof as
Annex "A"

NOW, THEREFORE, for and in consideration of the foregoing premises and the
covenants hereinafter stipulated, the parties hereby agree as follows:

ARTICLE I
PROPERTIES FOR LEASE

1. LEASED PREMISES. The LESSOR is offering for lease a portion of the afore-described
parcel of land with existing structures equivalent to approximately 154 square meters, and
designated as Unit Block 6 and the LESSEE hereby accepts the offer.

2. INSPECTION; NO WARRANTY. - The LESSOR leases the Leased Properties to the

LESSEE on an "as is, where is" basis. The LESSEE hereby declares that it has inspected the
Leased Properties prior to the execution of this Lease Agreement, and acknowledges that it
is fully satisfied with the conditions thereof. The LESSOR makes no warranty as to the
condition, operational or structural capability, or as to any hidden defects of the Property
which the LESSEE warrants to know by virtue of the LESSEE’S duty to inspect.

ARTICLE II
TERM OF LEASE

1. TERM. - This shall be a period of FOUR (4) YEARS, commencing on the 1 ST day of
May 2016 and to expire on April 30, 2020.

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 The term of lease are established not only for the benefit of the LESSEE but also for the
benefit of the LESSOR. Thus, it is an essential consideration that the LESSOR shall any case,
be paid by the LESSEE of all rentals due up to the full term of lease, unless the lease is
sooner terminated on account of default by the LESSEE.

ARTICLE III
CONSIDERATION

1. RENTAL PAYMENT. That the LESSOR hereby lease to the LESSEE and the
latter hereby takes in lease from the LESSOR, the aforesaid building at a monthly
base rental of FIFTY THOUSAND PESOS, (PHP50,000.00) Philippine Currency.
inclusive of VAT,

2. ADVANCEMENTS. LESSEE agrees to pay TWO (2) months advance rental in the
amount of PESOS: ONE HUNDRED THOUSAND PESOS (Php100,000.00) Philippine
Currency, covering the months of May 01, 2016 to June 30, 2016 .

Upon the execution of this contract, LESSEE shall also issue in advance and deposit
to the LESSOR, ten (10) post-dated checks covering the next ten (10) months or first
year of lease coverage. Not later than sixty (60) days before the end of the first year,
LESSEE shall issue and deposit with the LESSOR another twelve (12) checks covering
the second (2nd) year of coverage. This manner of payment shall continue until the
expiration of the lease period.

3. ESCALATION CLAUSE. There will be an escalation of five (5%) percent starting on

third (3rd) and fourth (4th) year of the lease and every succeeding year thereafter.

4. SCHEDULE OF PAYMENTS:

PERIOD COVERED: May 01, 2016 to April 30, 2017

BASE MONTHLY RENTAL PHP46,728.97
+12% VAT PHP 5,607.48
TOTAL PHP 52,336.45
LESS WITHHOLDING TAX PAID BY LESSEE TO BIR PHP 2,336.45
TOTAL MONTHLY RENTAL: PHP 50,000.00

PERIOD COVERED: May 01, 2017 to April 30, 2018

BASE MONTHLY RENTAL PHP 46,728.97
+12% VAT PHP 5,607.48
TOTAL PHP 52,336.45
LESS WITHHOLDING TAX PAID BY LESSEE TO BIR PHP 2,336.45
TOTAL MONTHLY RENTAL: PHP 50,000.00

PERIOD COVERED: May 01, 2018 to April 30, 2019

BASE MONTHLY RENTAL PHP 49,065.42
+12% VAT PHP 5,887.85
TOTAL PHP 54,953.27
LESS WITHHOLDING TAX PAID BY LESSEE TO BIR PHP 2,453.27
TOTAL MONTHLY RENTAL: PHP 52,500.00

PERIOD COVERED: May 01, 2019 to April 30, 2020

BASE MONTHLY RENTAL PHP 49,065.42
+12% VAT PHP 5,887.85
TOTAL PHP 54,953.27
LESS WITHHOLDING TAX PAID BY LESSEE TO BIR PHP 2,453.27
TOTAL MONTHLY RENTAL: PHP52,500.00

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5. DOCUMENTARY STAMP TAX . Any documentary stamp tax due on this Contract of
Lease shall be for the account of the LESSEE.

6. SECURITY DEPOSIT: In addition to the advance rentals stated above, the LESSEE
shall further deposit to the LESSOR upon the execution of this contract, an ON-DATED
CHECK equivalent to THREE (3) MONTHS rental or an amount of Philippine Peso: ONE
HUNDRED FIFTY THOUSAND (php150,000.00). specifically to serve as security deposit for
any unpaid utility bills such as electricity, water, sanitation, and others, and to answer for
any damages which the Leased Properties may suffer as well as to cover any unpaid
monthly rent; interests or penalties. The amount shall be updated annually corresponding
to the escalation clause.

It is understood that this deposit shall not relieve the LESSEE from payment of the
rentals and its other obligations. It is also understood that this deposit shall not be
withdrawn by the LESSEE during the term of this lease.

The LESSEE irrevocably authorizes the LESSOR, at the latter’s option, to deduct from
this deposit any obligation of the LESSEE which the LESSOR determines to be
payable. In case any deduction from the deposit is made by the LESSOR, the LESSEE
shall immediately restore the level of the required deposit. The security deposit is
refundable to the LESSEE, free of any interest, sixty (60) days after the termination of
this Lease Agreement, or until all the repairs have been effected, if any, whichever
comes first, and said amount is subject to deduction for whatever utility bills and
monthly rentals, interests, penalties that have remained unpaid and damages that
may have been incurred, provided, that the LESSEE shall still be liable for any and all
bills, rentals, interests, penalties and damages that may exceed this security deposit.
The LESSEE shall not be allowed to offset or use its security deposit as its monthly
rental payment.

ARTICLE IV
PURPOSE OF THE LEASE/SUBLEASE

1. USE OF THE LEASED PREMISES. - The LESSEE shall use the Leased Properties as
LAUNDRY SERVICES AND RESTAURANT. LESEE has the option to change the use of
the leased premises provided LESSEE notifies the LESSOR in writing of its intended
change in use, and provided further that the LESSOR gives its notarized written
consent to the change in use of the leased premises. In no case shall the Leased
Properties be used for immoral or illicit purposes and illegal acts or purposes.

2. If the Leased Properties are used for other purposes not allowed under this contract
of lease, the LESSOR shall have the right to automatically cancel this lease contract in
the manner provided under ARTICLE VI of this contract of lease.

3. SUBLEASE. - The LESSEE is allowed to sublease the leased premises to be occupied in

whole or in part by any of the persons listed as stockholder of Glowy First Services
Corporation, subject to the LESSOR’S prior written approval and consent on the line
of business which such sublessee shall put up in the leased premises. However, other
than those stockholders, the LESSEE shall have NO RIGHT to directly or indirectly
sublet, allow or permit the leased premises to be occupied in whole or in part by any
person, form or corporation, neither shall the LESSEE assign its rights hereunder to
any other person or entity and no right of interest thereto or therein shall be
conferred on or vested in anyone by the LESSEE.

4. LESSEE undertakes to inform the SUBLESSEE of his rights and obligations under this
contract of lease. SUBLESSEE shall acquire no greater right or more extended right
than the LESSEE has under this contract of lease. Furthermore, any such sublessee
shall in every respect be subject, subservient and subordinate to all the conditions,
provisions, stipulations, requirements, covenants and obligations of this contract of

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 lease. Any contract or agreement made or entered into in violation of this provision
shall be null and void and of no effect whatsoever.

5. The SUBLESSEE shall have no right to sublease or assign the premises to other third
parties. Moreover, the Lessee’s Assignee or sublessee shall furthermore comply
strictly to the same stipulations and restrictions provided in this contract.

ARTICLE V
IMPROVEMENTS

1. IMPROVEMENTS. - Any improvements introduced by the LESSEE upon the leased

premises shall strictly comply with the following terms and conditions:

a. LESSEE shall furnish the LESSOR with a written copy of the Construction
Proposal/Project Schedule from a reputable construction company as to the
extent of the improvements to be made.

b. LESSEE has to procure the written consent of the LESSOR before any
improvements are to be made.

c. LESSEE shall procure all the necessary government permits, whenever

necessary and pay all the corresponding fees for the installation of any
improvements.

d. Any and all improvements made by the LESSEE that are permanently
attached to the leased premises will automatically inure to the benefit of the
said premises and become the property of the LESSOR upon the termination
of the lease contract, however the LESSEE may remove any improvements
introduced thereon provided it does not destroy the property.

ARTICLE VI
CANCELLATION/TERMINATION AND PRE-TERMINATION PENALTY

1. GROUNDS FOR CANCELLATION. - The LESSOR may unilaterally cancel or terminate

this Lease Agreement, on the basis of the following:

a. When the LESSEE fails to pay two (2) or more monthly rentals or any of
his issued checks are dishonored two (2) or more times.

b. The LESSEE uses the Leased Properties for purposes other than those
specified herein.

c. The LESSEE willfully violates any of the other terms and conditions of this
Lease Contract.

d. In case the LESSEE the leased premises shall be vacated or abandoned for
a period of ten (10) continuous days without prior written notice to the
LESSOR. Consequently, the LESSOR is hereby permitted and expressly
authorized by the LESSEE to enter and secure the premises, either by force or
otherwise, without being liable for prosecution therefore.

2. NOTICE OF CANCELLATION: LESSOR may unilaterally cancel and terminate this

LEASE AGREEMENT under the causes specified under the above-stated paragraph 1,
Article VI, after five (5) days written notice to the LESSEE or by posting written notice
of the cancellation on the leased premises.

3. CANCELLATION PENALTY. In the event the LESSOR is compelled to cancel/terminate

this Lease Agreement due to the fault or negligence of the LESSEE and the latter’s
violation of the stipulation/s of this contract, the LESSEE shall forfeit by way of

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 liquidated damages their Three (3) months security deposit as well as the rental for
the current month of occupation.

This is without prejudice to the right of the LESSOR to collect from the LESSEE for any
outstanding electric, water, or any other bill, as well as hold LESSEE answerable for
any damage/s to the property.

4. PRE-TERMINATION PENALTY. Should the LESSEE during the term of this lease
pre-terminate their lease contract, they shall forfeit by way of liquidated damages their
three (3) months security deposit as well the rental for the current month of occupation.
This is without prejudice to the right of the LESSOR to collect on LESSEE for any
outstanding electric, water, or any other bill, as well as hold LESSEE answerable for any
damage/s to the property.

ARTICLE VII
GENERAL/MISCELLANEOUS PROVISIONS

1. UTILITIES. - The LESSEE, in addition to the monthly rent shall be charged utility
bills for water and electricity every month based on the water and electric meter
consumption as per reading made by the agent of the LESSOR. LESSEE shall pay the water
and electric bills within five (5) days from receipt of the bill. Failure of LESSEE to pay the
water and electric bills within the specified period of five (5) days shall give the LESSOR
and/or her agents the right to cut off the water and electric supply of the LESSEE without
further notice.

2. CARE OF LEASED PREMISES. - The LESSEE shall, at its own expense, maintain the
Leased Properties in a clean and sanitary condition free from noxious odors, disturbing
noises or other nuisances. The LESSEE, its employees, agents or representatives shall not
in any manner damage or deface any part of the Leased Properties

3. COMPLIANCE. The LESSEE shall comply with any and all reasonable rules and
safety regulations which may be promulgated from time to time by the LESSOR, together
with all the rules, regulations, ordinances or laws made by the duly constituted authorities;
either by the National or City government or any of its agencies and instrumentalities,
arising from or regarding the use, occupancy and sanitation of the Leased Properties.

4. INSURANCE. The LESSEE shall agree to take out an insurance policy from a
reputable insurance company for the purpose of insuring all the buildings and
improvements it has constructed on the land against fire, lighting, earthquake, force
majeure, war, rebellion, fortuitous events and similar occurrences. The LESSEE being the
beneficiary agrees to distribute the proceeds in proportion to the number of years of the
remaining term of the contract, such that the highest amount after the pro rata
computation accrue to the LESSOR.

5. GENERAL MAINTENANCE, SANITATION, REPAIRS AND SAFETY. - The cost of

general maintenance and upkeep of the Leased Properties shall be for the account of the
LESSEE. The LESSEE shall keep the Leased Properties in a clean, safe and sanitary
condition and introduce all the needed repairs at all times. The LESSEE shall dispose all its
garbage, waste, and other pollutants in accordance with the rules promulgated by the
national or local government.

6. DAMAGE. In case of damage to the Leased Properties or its appurtenances by fire,

earthquake, volcanic eruption, war or any unforeseen cause, the LESSEE shall give notice to
the LESSOR within a reasonable time. In the event that the LESSEE through its own fault or
negligence or that of its employees, agents or representatives, damages the Leased
Properties, and LESSEE fails to repair the damage within a reasonable time, then the
LESSEE shall be liable to LESSOR for liquidated damages in an amount equivalent to six (6)
month’s rent, and this is without prejudice to such other amounts as may be due to the

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LESSOR for actual damage and other liquidated damages/remedies available to LESSOR
under this Lease Agreement and/or the law.

7. FIRE HAZARD AND OBNOXIOUS SUBSTANCES. - The LESSEE shall not introduce,
keep, deposit or store in the Leased Properties any obnoxious substance or inflammable
material or substance not reasonably connected with the herein stated purpose of the lease
which might constitute a fire hazard, without the prior written consent of the LESSOR. The
LESSEE shall also not install within the Leased Properties any apparatus, machinery or
equipment which may cause obnoxious tremors or noises nor store newspapers, cartons,
wood, or other articles of light nature which may expose the Leased Properties to fire or
increase the fire hazard of the Leased Properties or change its insurance rate.

8. INSPECTION OF PREMISES. - The LESSOR reserves the right to enter and inspect the
Leased Properties at reasonable times during business hours and with prior notice. The
LESSEE agrees to cooperate with the LESSOR in keeping the Leased Properties in good and
tenantable condition.

9. ASSIGNMENT. - The LESSOR reserves the right to assign, transfer or encumber any
of its rights and interests under this Lease Agreement to any entity without the need of
obtaining the consent of the LESSEE except to notify the latter of the same. In the event of
such transfer, assignment or encumbrance, the rights and interest of the LESSEE under this
Lease Agreement shall be respected and observed in its entirety by such assignee,
transferee or mortgagee, and for the entire term hereof unless otherwise mutually agreed
upon by the parties including the LESSEE.

10. RETURN OF PREMISES. - Upon the termination of this Lease contract or cancellation
in the manner and for the reasons specified under ARTICLE VI hereof, the LESSEE shall
peacefully and immediately vacate the Leased Properties and return the keys to the leased
premises as well as the physical possession thereof to the LESSOR in clean, good and
tenantable condition, devoid of all occupants, equipment and effects of any kind. Failure of
the LESSEE to return the Leased Properties as provided herein shall make it liable to pay
liquidated damages to the LESSOR in an amount equivalent to one (1) month rental
without prejudice to such other amounts as may be due LESSOR and/or such other
remedies available to the LESSOR under this Lease Agreement and/or under the law.

11. RIGHT TO ENTER THE PREMISES TO RECOVER ACTUAL POSSESSION. - Upon the
failure of the LESSEE to comply with any of the terms and conditions of this lease; or when
LESSEE gives ground to LESSOR to cancel this contract of lease under Article VI hereof; or
for LESSEE’S failure to vacate and return the premises as provided herein, the LESSOR or
her authorized representative(s) shall have the right, after giving five (5) days written
notice to the LESSEE, or upon written notice posted at the entrance of the Leased
Properties for the same period, to enter and take possession of the said premises, without
need of resorting to any court action, holding, taking custody and impounding such
possessions and belongings of the LESSEE found therein after conducting an inventory of
the same in the presence of witnesses, until such time that all the rentals, interests,
penalties, unpaid utility bills, damages or other amounts due to the LESSOR has been fully
settled by the LESSEE.

All these acts being hereby agreed to by the LESSEE as tantamount to his voluntary
vacation of the leased premises without necessity of suit in court and authorizing
LESSOR to use all necessary and reasonable force to break open doors and to enter
the premises and take actual possession thereof, and such entry and use of
reasonable force should not be regarded as trespass, nor be sued as such, or in any
wise be considered as unlawful.

12. NO LIABILITY. - The LESSEE shall hold LESSOR free and harmless from any loss,
damage, injury suffered by the LESSEE, its agents or employees, clients, guests or
customers or other third persons arising out of the use of the Leased Properties by
LESSEE, its agents, employees, clients, guests, or customers including but not limited

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 to, claims for property damage, personal injury or wrongful death, or losses or
damages occasioned by reason of any event or cause which could not be foreseen, or
which, though foreseen, were inevitable such as but not limited to fire, earthquake,
lightning, typhoons, flood, volcanic eruption, robbery, theft or other crimes. In
addition, the LESSOR shall not be liable nor responsible:

a) For the presence of bugs, vermin, rats, insects, or other similar creatures, if any, in
the Leased Properties;

b) For the failure of electrical and/or water supply due to causes beyond LESSOR’S
control;

c) For any injury, loss or damage which the LESSEE, its agents or employees, might
sustain while in the Leased Properties due to causes attributable to the fault of said
LESSEE, employees, agents and/or representatives, or those of its clients, guests or
customers;

d) For any damage done or occasioned by, or arising from the plumbing, gas, water,
and/or other pipes or air-conditioning system or for the bursting, leaking or destruction of
any tank, cistern, washers, and water closets or waste pipelines in, above, upon, or about
said Leased Properties, nor for any damage arising from or attributable to acts of
negligence of the LESSEE or its agents, employees, representatives or any and all other
persons over which the LESSOR has no control.

13. FREE ACCESS OF PRIVATE ROAD BESIDE LEASED PREMISES. The LESSEE does
hereby acknowledge that the leased premises covers only a portion of the parcel of
land first-mentioned above. The LESSEE does hereby acknowledge that the road is
being leased out to Waterfront Cebu Hotel’ & Casino which the latter uses as ingress
and egress for any and all persons vehicles visiting the said hotel. The same road
leased by the hotel shall always be freely accessible by the intended party and shall
not be obstructed, intentionally or unintentionally, by the LESSEE.

14. TRANSFER OF RIGHTS/ASSIGNMENT/SALE - The LESSORS reserves the right to sell,

assign, transfer or encumber any of its rights and interests under this Lease
Agreement to any entity.

If LESSEE is not in default of any terms, covenants or conditions of this Lease, then
Lessee, but not any assignee or sublease of Lessee, shall have the right of first refusal
to buy the leased premises from the LESSORS, under the latter’s terms and
conditions. If after the lapse of ten (10) days from written notice of intended sale,
LESSEE has failed to make a written concrete offer to buy the premises from the
LESSORS, LESSORS are free to negotiate the leased premises for sale with third
parties.

In the event of such transfer, assignment or encumbrance, the rights and interest of
the LESSEE under this Lease Agreement shall be respected and observed in its
entirety by such assignee, transferee or mortgagee, and for the entire term hereof
unless otherwise mutually agreed upon by the parties.

15. NON WAIVER. The failure of the LESSOR to insist upon a strict performance of any of
the terms, conditions and covenants hereof shall not be deemed a relinquishment or
waiver of any of the rights or remedies that the LESSOR may have, nor shall it be
construed as a waiver of any subsequent breach or default of its terms, conditions
and covenants which shall continue to be in full force and effect. No waiver by the
LESSOR of its rights under this Lease Agreement shall be deemed to have been made
unless expressed in writing and signed by the LESSEE.

16. AMENDMENTS. - Any amendments or additional terms and conditions to this Lease
agreement must be in writing and with written consent of both parties.

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17. VENUE OF LITIGATION. - In case of any dispute arising in connection with this Lease
Agreement, the parties hereby agree that the venue for the settlement of the dispute
shall fall exclusively within the jurisdiction of the proper courts in the City of Cebu,
Philippines.

18. LIQUIDATED DAMAGES FOR FAILURE TO SURRENDER THE PREMISES. If the LESSEE
refuses to peacefully surrender the premises to the LESSOR upon the
cancellation/termination of the contract and the LESSOR is constrained to bring suit
against the LESSEE, the LESSEE shall be liable for the LESSOR’S attorney’s fees and be
meted with liquidated damages of ONE MILLION PESOS (PHP 1,000,000.00) to cover
litigation expenses, loss of time and business opportunity.

IN WITNESS WHEREOF, the parties have set their hands and affixed their signatures this
_____ day of ___________________________ 2016, in the City of Cebu, Philippines.

LESSOR LESSOR

LESSEE

by:

Managing Partner

Witnessed by:

ACKNOWLEDGMENT

REPUBLIC OF THE PHILIPPINES)

CITY OF CEBU.....................................)S.S

BEFORE ME, this _____ day of __________ 2016, in the City of Cebu, Philippines,
personally appeared the following who personally presented to me their valid and
acceptable identification cards, described below:

NAME I.D. No.    Date Issued/Expiry     Place Issued

The persons above-stated are known to me to be the same persons who executed the
foregoing Contract of lease and that they all acknowledged to me that they have fully read
and understood the contents thereof and all its stipulations, and furthermore, that the
execution of this lease contract is their free act and voluntary deed.

This contract of lease consists of a total of eight (8) total pages including the page wherein
this acknowledgment is written.

IN WITNESS WHEREOF, I have hereunto set my hand and affixed my notarial seal, the day,
year and place above written.

Doc No. _____;

Page No._____;
Book No. ____;

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Series of 2016.