CONTRACT OF LEASE

RE: FISHPOND

KNOW ALL MEN BY THESE PRESENTS:

This AGREEMENT, made and executed by and between:

NORMA P. QUEYQUEP, of legal age, married, Filipino and a

resident of San Gabriel Street, Bonuan Boquig, City of Dagupan,
hereinafter to as the LESSOR;

-and-

RODULFO C. ROSARIO, of legal age, married, Filipino, and a

resident No.273 Balagan, Binmaley, Pangasinan, hereinafter to as the
LESSEE;

W I T N E S S E T H:

The LESSOR is the registered co-owner of a fishpond, more

particularly described as follows:

TRANSFER CERTIFICATE OF TITLE No.64655

Land Registry of City of Dagupan

“A parcel of land (Lot1, Pcs-1-000435, being a

portion of Lots 3017, 3058 & 3064, Dagupan Cadastre,
LRC. Rec. No.917), situated in the Bonuan Boquig,
Dagupan City, Island of Luzon. Bounded on the NE.,
along lines 11-1-2-3 by Lot 3056 Dagupan Cadastre; on
the SE., along line 3-4 by Canal; on the SW., along line 4-
5-6 by Lot 3057, Dagupan Cadastre; on the SW., along
line 6-7 by formerly Dawel River along line 7-8 by Lot
3018, Dagupan Cadastre; on the SW., along line 9-10 by
Dawel (now course); on the NE., along line 10-11 by Lot
2, Pcs-1-00433. x x x containing an area of EIGHTEEN
THOUSAND THREE HUNDRED AND TWENTY TWO
(18,322) SQUARE METERS.”

That the herein LESSOR has offered for lease the above
mentioned fishpond, and the herein LESSEE agreed to lease the same,
subject to the following terms and conditions, to wit:

1. That the period of lease shall be for FIVE (5) YEARS

beginning October 15, 2014 and expiring January 1, 2020 subject to
renewal of another period depending upon the will of the contracting
parties;

2. That the LESSE shall pay a rental of FORTY FIVE

THOUSAND (P45,000.00) PESOS per year or a total of TWO
HUNDRED TWENTY FIVE THOUSAND (P225,000.00) for FIVE
(5) YEARS;
 2

3. That the LESSOR shall pay the Realty Tax of said property
during the period of lease;

4. That all expenses incurred for improvements of the leased

property during the period of lease shall be for the account of the
LESSEE.

5. That the LESSEE shall use exclusively the leased property for
fishpond operation only;

6. That all improvements introduced by the LESSEE to the

leased property shall accrue to the LESSOR after the expiration or
termination of the lease contract without right of reimbursement of the
cost or value of the improvement.

IN WITNESS WHEREOF, we have hereunto set affixed our

signatures this ___th day of April, 2013 at the City of Dagupan,
Philippines.

NORMA P. QUEYQUEP RODULFO C. ROSARIO

-lessor- -lessee-

Signed in the presence of:

__________________________ ________________________

ACKNOWLEDGENT
BEFORE ME, the undersigned notary public, this ____ th day of
April, 2013 at the City of Dagupan, Philippines personally appeared:
Norma P. Queyquep with her Identity I.D. No.___________, copy
attached, known to me to be the same person who executed the
foregoing Contract of Lease, signed and acknowledged the same to be
their free act and voluntary deed.

WITNESS MY HAND AND SEAL this even date and place.

Doc. No.___;
Page No.___; Notary Public
Book No.___;
Series of 2013.