CONTRACT OF LEASE

KNOW ALL MEN BY THESE PRESENTS:

This Contract of Lease, made and entered into, by and between.:

JESLEY TAN UY, of legal age, Filipino, single, and a resident of 28 K-J Street,
Corner K-6 Street, Kamias, Barangay East Kamias, Quezon City, Philippines, hereinafter re
ferred to as the LESSOR;

- and -

ROSELLE VELARDE SORIANO, of legal age, Filipino, single and with address
at 67-C Ocampo Street Amorsolo U.P. Diliman, Quezon City, hereinafter referred to as the
LESSEE;

WITNESSETH; that -

WHEREAS, the LESSOR is the registered owner of a building situated at 28 K-J

Street, corner K-6 Street, Kamias, Quezon City, Barangay East Kamias, Quezon City,
Philippines.

WHEREAS, the LESSOR desires to lease out a portion of the afore-described

property in favor of the LESSEE and the LESSEE accepts the lease subject to the terms
and conditions herein set forth.

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

ARTICLE I
Leased Property

1. The LESSOR hereby agrees to lease unto the LESSEE Unit No. 1A of the afore
mentioned property at 28 K-J Street, corner K-6 Street, Kamias, Quezon City,
Barangay East Kamias, Quezon City, Philippines.

ARTICLE II

TERM OF LEASE

1 The term of this Lease Contract is one (1) year starting on January 2, 2024 and
ending on January 1, 2025, renewable at the option of the LESSOR.

ARTICLE III

CONSIDERATION AND DEFAULT

1. That the Lease Contract is for and in consideration of the monthly rental of
TWENTY FIVE THOUSAND PESOS (Php25,000.00) inclusive of VAT.
Upon execution of this Contract of Lease, the LESSEE shall make a deposit equiva
lent to two (2) months rent amounting to TWENTY FIVE THOUSAND PESOS
(Php50,000.00), representing liquidated damages and/or penalty for pre-termination
which may be incurred and/or caused by the LESSEE.

2. An advanced payment equivalent to one (1) month rent, amounting to TWENTY

FIVE THOUSAND PESOS (Php25,000), representing the first monthly rental
shall likewise be given by the LESSEE.

3. In addition, the monthly rentals shall increase by five (5%) percent of the monthly
rate starting on the second (2nd) year of lease, and each year thereafter until the ter
mination of this Contract. The base rent being understood to be the monthly rental
applicable for the said year as opposed to the original rent provided above.
4. If, for any reason, the LESSEE fails to complete the one (1) year period of the
Lease, the deposit amounting to two (2) months' rentals mentioned in paragraph 3
hereof shall be forfeited in favor of the LESSOR.

5. In case of delay for every monthly rental stipulated therein, a penalty of ten
(10%) percent of the applicable monthly rent shall be added to the rental stip
ulated.

ARTICLE IV

OBLIGATIONS OF THE LESSEE

1. The LESSEE shall pay for and defray at his own expense, the consumption of elec
tric light, telephone, and other utility services in the leased premises.

he LESSEE shall be responsible for any damage to the leased premises due to the
ult of the LESSEE, immediate members of his family, or other third persons who
may have gained access to the premises because of the LESSEE's own action and
said damages caused shall be repaired promptly by the LESSEE at his own expense.

3. The LESSEE cannot make any alteration on the leased property without the written
consent of the LESSOR, subject to such further agreements as the parties may here
inafter enter into.

4. The LESSEE shall comply with any and all laws, ordinances, and regulations of the
Local City Government authorities arising from or regarding the use, occupation and
sanitation of the leased premises. Failure to comply with the said laws, ordinances,
regulations or orders shall be for the exclusive risk, responsibility and expense of the
LESSEE.

5. The LESSEE shall not directly or indirectly sub-lease, assign, or transfer her rights
under this contract to a third party or parties without the written consent of the
LESSOR.

6. The Lessee shall not store in the leased premises any inflammable or explosive goods
or materials nor any article which may unnecessarily expose the leased premises or
any of its adjoining building to fire or increase the rate of fire, except for cooking
purposes. That in case the leased premises shall be razed by the fire caused by the
LESSEE, the Lease Contract shall be considered as rescinded and/or terminated.

ARTICLEV

OBLIGATIONS OF THE LESSOR

1. The LESSOR shall pay the real property taxes of the leased premises. However, if
the real property taxes are increased due to improvements made by the LESSEE,
such increases in taxes shall be for the account of the LESSEE.

2. The LESSOR shall repair major defects due to natural wear or tear, but any defects
or breakages due to the negligence or carelessness on the part of the Lessee or his
helpers, shall be for the account of the LESSEE.
 ARTICLE VI

MISCELLANEOUS

1. That, by these present, the LESSOR, received from the LESSEE the sum of FIFTY
THOUSAND PESOS (Php 50,000.), as deposit to answer for any and whatever
damages that may be caused to the premises and shall never be considered as rentals
nor shall the same be used to apply as payment for the rental by the LESSEE during
the remaining period of the lease.

2. The LESSOR or his duly authorized representative shall have the right to inspect the
leased premises at any reasonable hour of the day;

3. Any violation of any of the terms and conditions of the contract herein stipulated
will produce the automatic rescission and/or cancellation of the contract of lease.

4. For any violation of the provisions of this contract or breach hereof, deposit in the
leased premises of a notice to vacate shall constitute due and sufficient notice to the
Lessee. For non-payment of rentals, upon termination of the term of the lease or earlier
hereof as above provided, the LESSEE hereby expressly authorizes the LESSOR to
enter upon the premises, remove all personal properties that may be found therein, and
deposit the same in a place or warehouse. The Lesse further agree to pay all cost for the
transfer and storage thereof:

5. Should legal action be necessary to impose the terms of this contract, the Attorney's
fees, court expenses and other legal fees, which should not be less that FIFTY
THOUSAND PESOS (PhpS0,000.00), shall be for the account of the LESSEE.
IN WITNESS WHEREOF, the parties have set their hands and affixed their signatures
this in the City of _, Philippines.

JESLEY TAN UY
ROSELLE VELARDE SORIANO
LESSOR
LESSEE

SIGNED IN THE PRESENCE OF:

ACKNOWLEDGEMENT

REPUBLIC OF THE PHILIPPINES)

QUEZON CITY, METRO MANILA) S.S.

BEFORE ME, a Notary Public for and in _____________, this day of

personally appeared the following persons:
Names I.D.NO Date Expiration/
Issuance/ Place

Jesley Tan Uy 255-098-935-000 08/04/2010

Roselle Velarde Soriano N02-16-011045 05/24/2024

known to me and to me known to be the same persons who executed the foregoing Con
tract of Lease consisting of three (3) pages including this page wherein this acknowledge
ment is written and they acknowledged to me that the same is their own free and voluntary
act and deed.

WITNESS MY HAND AND SEAL on the date and place first above-written.

DOC.No.

Page No
Book No. Notary Public
Series of 202 .