October 4, 2023

Mr. Lloyd Comeling

Managing Consultant
ANYTIME FITNESS
Contact number: 0917-503-0419
E-mail Address: xrj.ops@gmail.com

Subject: Lease Proposal

Dear Mr. Comeling,

We are pleased to offer you a commercial space at ABANAO SQUARE, a unique shopping and
lifestyle destination conveniently situated in the heart of the City of Pines !

Herewith are the basic terms and conditions for your conformity:

1. Trade Name : ANYTIME FITNESS

Location
Area (approx.)
Permitted Uses
Basic Rent/SQM/Month
CAM Charges/SQM/Month
MKTG Funds Charges/SQM/Month
Deposit/Advance Rent
 Security Deposit is equivalent to
Six (6) months Basic Rent
 Power Meter Deposit
 Water Meter Deposit
 Construction Bond
 One (1) month Advance Rent
 Common Area Maintenance
 Marketing Fund
 Total amount payable to
PACIFIC LAND AND BUILDING CORP.
Lease Term
Turnover Date
Renovation Period
Commencement Date
Termination Date
Annual Escalation
: V-1139-1141
: 384 SQM
: Fitness Gym
: Php700.00
: Php100.00
: Php10.00
: Php1,612,800.00
: Php21,120.00
: Php3,520.00
: Php268,800.00
: Php301,056.00 VAT Inclusive
: Php43,008.00 VAT Inclusive
: Php4,300.80 VAT Inclusive
: Php2,254,604.80
: Five (5) Years
: December 1, 2023
: Sixty (60) Days
: February 1, 2024 or first day of operation,
Whichever comes first;
: Midnight of January 31, 2029
: 1st Year – N/A
2nd Year – 5th Year – 10%

Fn: ANYTIME FITNESS_V1139-11-41

2. The rent is payable within the first seven (7) calendar days of every calendar month to which
the rental statement of account corresponds at Suite 501, Pacific Land and Building
Corporation Admin Office without the necessity of demand. An interest of three (3%) per
month shall be charged if payment is made beyond the period herein specified until rental
payment is fully paid. If the payment due date falls on Sunday or Special Holiday, the rental is
due and payable the following working day.

3. All rates are subject to twelve percent (12%) VAT. LESSEE shall guarantee faithful compliance
with all government rules and regulations particularly the payment of taxes including but not
limited to the withholding tax on rental, the corresponding documentary stamp tax, and other
taxes, if any, on the lease.

4. Pacific Land and Building Corporation shall have the right to pre-terminate this contract
should the LESSEE fail to settle his account equivalent to two (2) months’ rent; or for violation
of any of the obligations contained herein.

5. Security Deposit is equivalent to Six (6) months of Basic Rent plus one (1) month of Advance
Rent. Your security deposit shall remain intact during the entire term of this lease unless
LESSEE fails to settle his account as indicated in provision #4. Should LESSEE fully and faithfully
perform every provision of this Lease, the security deposit shall be refunded to the LESSEE
after the expiration of the lease term and upon the LESSEE’s satisfaction of all monetary
obligations to PALABUCO.

The Security Deposit shall be forfeited in our favor upon LESSEEE’s cancellation of this
agreement after the LESSEE has signed and confirmed this Lease Proposal; failure to occupy
the leased premises within thirty (30) days from the effectivity of the lease; failure to
commence store construction as stipulated herein; cancellation of the lease contract prior to
the expiration of the lease term;

6. Common Area Maintenance (CAM) Charges. In addition to the payment of rent and other
amounts due hereunder, the LESSEE shall pay a monthly common area utilities fund
contribution at a rate or in an amount specified in Section 1 hereof, which will cover the costs
of building operation, including administrative costs, costs of restorations for the damages to
the common area, common area maintenance, security and utility expenses (including air
conditioning and ventilation), as well as garbage collection and hauling provided by the
LESSOR for the duration of this lease. The amount as stipulated in provision #1 may be subject
to a reasonable increase whenever needed.

7. Individual Utility Agreement. The LESSOR shall install one (1) the main meter. LESSEE shall be
provided with a sub-meter. A refundable meter deposit equivalent to the cost of the
electric/water/LPG meter shall be made by LESSEE. The LESSEE shall pay to the LESSOR its
electric/water consumption monthly based on sub-meter reading, plus a reasonable Service
Charge within five (5) calendar days from the date of receipt of the monthly bill.

Fn: ANYTIME FITNESS_V1139-11-41

8. Pacific Land and Building Corporation shall not be responsible for any losses, theft, and/or
damage to the merchandise of the LESSEE.

9. LESSEE is required to have insurance coverage with the following features:

Minimum Coverage/Leased Area
1. Against fire and other perils. Php500, 000.00
2. Against public liability Php500, 000.00

LESSEE shall furnish LESSOR with a copy of the insurance policy and periodic renewal thereof
together with copies of the corresponding official receipts evidencing payment of premium
and other charges.

10. CANCELLATION. Should LESSEE fail to commence operation within thirty (30) days from the
effectivity of the lease, LESSOR shall have the right to unilaterally cancel this agreement and all
deposits received by us will be forfeited in our favor. LESSOR reserves the right to offer the
same premises to other interested parties

11. KEY PLAN.

PROPOSED
LOCATION

V1139-1141

Fn: ANYTIME FITNESS_V1139-11-41

This Lease Proposal embodies the basic terms and conditions agreed upon by the parties and shall be
binding upon them. The LESSEE or his/her representatives certify that they have read this or caused to
be read to him/her and that he/she has fully understood the same.

Should you already accept the terms herein stated, kindly affix your signature on the space provided
below to signify your conformity and return to us signed copies of the same together with your cheque
payment payable to PACIFIC LAND AND BUILDING CORPORATION not later than October 16, 2023.

Truly Yours, Conforme:

CLARISSA C. LUMANOG LLOYD COMELING

Business Development Staff Lessee

Fn: ANYTIME FITNESS_V1139-11-41