WITNESSETH:

WHEREAS, Lessee has approached Lessor with the intention of entering into this
Agreement;
MARIE SARIPADA,
MYCA FE F. ABALLE,
AGREEMENT Filipino,
Filipino,
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legal
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legal
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WHEREAS , the Lessor
residenceat Digos
address has agreed
at Lapu-Lapu
City, Davao to
-and-
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del Sur,the premises
Cityhereinafter
Davao del under
Sur, the terms and
referred
conditions specified below;
hereinafter
to as “L referred
ESSEE ”. to as “LESSOR”;
KNOW ALL MEN BY THESE PRESENTS:
Now, Therefore, the Parties agree as follows:
This Agreement of Lease (“Agreement”) entered into this ______________ in
Digos City, by and between the Parties:
LEASED PREMISES

Lessor hereby leases unto Lessee Two Doors or Stall of Lessor’s commercial
building located at Lot 4-A, Blk. 30, Lapu-Lapu St., Zone III, Digos City, Davao del Sur,
which subject of lease is hereinafter collectively referred to as the “Leased Premises”.

I
TERM

This Agreement shall commence on the date of execution hereof and shall expire
after THREE (3) YEARS, unless sooner terminated pursuant to Article VII and VIII
hereof or unless sooner terminated within the term of the lease at the option of the Lessor;
Provided that the Parties may renegotiate an extension of the term not less than sixty (60)
days from the expiration of the term of this Agreement and upon mutually agreed
conditions.

II
PAYMENT OF RENT

For the lease, use and occupancy of the Leased Premises, Lessee shall pay Lessor
a monthly rental of TWENTY FIVE THOUSAND PESOS ONLY (P25,000.00),
exclusive of withholding tax and all other taxes, payable in advance monthly without
need of prior demand.

Upon execution of this Agreement the Lessee shall pay equivalent to one (1)
month advance and one (1) month security deposit, which security deposit shall not bear
interest and shall be applied to valid claims which Lessor may have against Lessee upon
expiration or termination of the contract. The holding period for the deposit shall be two
(2) months from expiration or termination of this Agreement and thereafter, Lessor shall
return the balance of the deposit, if any, net of all claims, including liquidated damages.
Lessee shall not allow the Lessee to withdraw the said security deposit prior to the period
stipulated above. Lessee undertakes to pay any claim of Lessor in excess of the deposit
within ten (10) working days from receipt of written demand.

III
TAXES

All national and local taxes relating to the use and occupancy of the Leased
Premises shall be for the account of Lessee. Lessee shall furnish Lessor proof of payment
of such national and local taxes without need of demand from date of payment. Any
liability incurred by Lessor for delayed or non-payment of such taxes shall be borne by
Lessee, notwithstanding that the statutory obligation to file or pay such taxes or returns
may or may not fall upon the Lessor. Lessee shall pay Lessor any such liabilities with
interest computed in the manner provided in the immediately preceding article within
three (3) working days from receipt of written demand.

IV
UTILITIES

Lessee shall pay, as they become due, all electric, water, garbage collection and
all other utility bills assessed on the Leased Premises for the term of the Agreement.
Lessee may be required to furnish Lessor proof of payment of such utility bills monthly,
without need of demand on or before the third week of the succeeding month. Any