CONTRACT OF LEASE

KNOWN ALL MEN BY THESE PRESENTS:

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

RENIEL RUSSELL RAMOS, of legal age, single residence address at 101

Arlene Street Corner S. Marquez Gatchalian Subdivision, Manuyo Dos, Las Piflas City, Philippines
(Hereinafter referred to as the "LESSOR");

- and -

BAILON NEIL PENASBO , of legal age, Filipino, married (hereinafter referred to as the "LESSEE");

WITNESSETH That:

WHEREAS, the LESSOR is the owner of a certain parcel of establishment situated at Unit B S. Marques
St. PH 4 Gatchalian Subd. Laspinas City Philippines, more particularly described as follows:
(Technical Description of Property)
WHEREAS, the Lessor desires to lease the afore-described stall 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 terms and conditions mutually agreed upon by the
parties, the LESSOR hereby lease unto the LESSEE, his heirs, successors and assigns, the above-
described parcel of land subject to the following terms and conditions, to wit:

1. That the term of this lease shall be for a period of ONE (1) YEAR to commence upon the signing of
this Contract April 1, 2023 until April 1, 2024 and shall be renewable at the option of the LESSEE, and
thereafter renewable upon mutual agreement of the parties;

2. The monthly rental shall be Seventeen Thousand Pesos (P17,000.00) per Stall, to be paid by the
LESSEE to
the LESSOR on or before the 1st“ day of each month

3. That upon the signing of this Contract, the LESSEE agrees to pay advanced rentals for TWO (2)
months; and TWO (2) months security deposit.

4. SECURITY DEPOSIT: Upon the execution of this Contract, LESSEE agrees to pay a security deposit
in an amount equivalent to two (2) months’ rent, as security for the faithful compliance by the LESSEE of
all terms and conditions of this Contract and for the return of the Unit in good and proper condition, and
to answer for any and all repairs or damages to the Unit and other liabilities of the LESSEE under this
contract. This security deposit CANNOT be applied by the LESSEE to any unpaid rental(s) or to any
other liability of the LESSEE to the LESSOR. The security deposit shall, unless the same is subject to