CONTRACT OF LEASE

KNOW ALL MEN BY THESE PRESENTS:

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

DRA. MARY LOU C. MONASTERIO, of legal age, Filipino, (single / married /

widow), and a resident of Ormoc City, Philippines, (hereinafter referred to as
the "LESSOR".
- and -
_____________, of legal age, Filipino, (single / married / widow), and a
resident of _____________, Philippines, (hereinafter referred to as the
"LESSEE");

WITNESSETH; that –
WHEREAS, the LESSOR is the registered owner of a building known as
_____________ situated at _____________, 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 PROPERTIES FOR LEASE

1.The LESSOR hereby transfers and conveys by way of LEASE in favor of the
LESSEE a portion of the afore-stated properties (hereinafter referred to as the
Leased Properties) specifically described as follows:
Bldg. Portion App. Covered Flr. Area ____________ ___________________

2.Inspection; No Warranty. - The LESSOR leases the Leased Properties to

the LESSEE on an "as is, where is" basis. The LESSEE hereby declares that it
has inspected the Leased Properties prior to the execution of this Lease
Agreement, and acknowledges that it is fully satisfied with the conditions
thereof. The LESSOR makes no warranty as to the condition, operational or
structural capability, or as to any hidden defects of the Property which the
LESSEE warrants to know by virtue of the LESSEE's duty to inspect.

3. Condition Precedent. - It is a condition precedent for the effectivity of

this Lease Agreement that the LESSEE submits to the LESSOR a copy of its
Articles of Incorporation and By-Laws and latest General Information Sheet
including a Board Resolution specifically authorizing the corporation and the
person representing the same in this instance to enter into this lease
agreement with the LESSOR under the terms and conditions contained herein.
 ARTICLE II CONSIDERATION

1. Rental Payment and Escalation Clause.- Within the first five (5) days
of each calendar month, the LESSEE shall pay the LESSOR a monthly rent at
the rate of __________________________ (P_____________) per square
meter or the total amount of __________________________
(P_____________). In addition, the monthly rent shall escalate yearly by
_____________ (_____%) percent of the base monthly rent starting on the
_____________ year and each year thereafter until the termination of
this contract, the base rent being understood to be the monthly rent applicable
for the said year as opposed to the original rent provided above.

2. Advance Rental Payment.-Within five (5) days from the signing of this
Lease Agreement, the LESSEE shall remit to the LESSOR an amount
equivalent to __________ (_____) months rent or the total sum of
__________________________ (P_____________) to be applied as rental
payment for the last two (2) months of this contract.

3.Security Deposit. - Within five (5) days upon the signing of this Lease
Agreement, the LESSEE shall remit to the LESSOR an amount equivalent to
_____________ (_______) month's rent or __________________________
(P___________) to serve as security deposit for any unpaid utility bills such
as electricity, water, telephone, sanitation, sewerage and others, and to
answer for any damages which the Leased Properties may suffer as well as to
cover any unpaid monthly rent; interests or penalties. This amount is
refundable to the LESSEE free of any interest thirty (30) days after the
termination of this Lease Agreement subject to deduction for whatever utility
bills and monthly rentals, interests, penalties that have remained
unpaid and damages that may have been incurred, provided, that the LESSEE
shall still be liable for any and all bills, rentals, interests,
penalties and damages that may exceed this security deposit. The LESSEE
shall not be allowed to offset or use its security deposit as its monthly rental
payment.

ARTICLE III TERM OF LEASE

1. Term. - Unless earlier terminated for reasons specified herein, the term of
this Lease Agreement shall be for _____________ (_____) years to start on
_____________ and end at noontime on _____________ renewable upon
mutual agreement of the parties.
 ARTICLE IV PURPOSE OF THE LEASE

1. Use of the Leased Properties. - The LESSEE shall use the Leased
Properties strictly and exclusively as __________________________. If the
Leased Properties are used for other purposes, the LESSOR has the choice to:
(i)Rescind the Lease Agreement; or
(ii)Increase the rent; or
(iii)Compel the LESSEE to stop the new activities.
In no case shall the Leased Properties be used for immoral or illicit
purposes and illegal acts or purposes.

2. Sub-Lease. - The LESSEE may sub-lease the Leased Properties; provided,

that it has secured the prior express written consent of the LESSOR and that
the provisions of this Lease Agreement is incorporated by reference in the
proposed sub-lease; provided, further, that the purpose of the sub-lease will
be substantially similar to that of the original lease provided, finally, that if
the LESSOR so consents to the sub-lease, the LESSOR shall receive a fixed
percentage of ten (10%) of the sub-lease rates over and above the regular
rent already collected under this Lease Agreement.

It is understood that the LESSEE shall act as the surety of the sub-lessee for
purposes of this Lease Agreement. The LESSEE shall provide LESSOR with a
copy of the sub-lease agreement not later than ten (10) days after the
execution of the sub-lease agreement. In addition, the LESSEE shall remit
LESSOR'S percentage participation in the sub-lease rentals within the first five
(5) days of each calendar month.

ARTICLE V DEFAULT

1. Interest Payment. - In the event the LESSEE fails to pay its monthly rent
within the first five (5) days of each month, the LESSOR shall charge interest
on the monthly rent at the rate of _____________ (______%) percent per
month, which shall be compounded monthly until full payment is made.

Furthermore and whenever applicable, in the event the LESSEE fails to remit
the LESSOR'S percentage participation in the sub-lease rentals within the first
five (5) days of each month, the LESSOR shall charge interest on the
LESSOR'S percentage participation in the sub-lease rentals at the rate of
_____________ (______%) percent per month, which shall be compounded
monthly until full payment is made.
 ARTICLE VI CANCELLATION

1.Grounds for Cancellation. - The LESSOR may cancel or terminate this

Lease Agreement, upon the happening of any of the following events:

1.1. The LESSEE fails to pay its monthly rent when the same falls due.

1.2. The LESSEE fails to remit LESSOR'S percentage participation in the

sub-lease rentals, if any, when the same falls due.

1.3. The LESSEE uses the Leased Properties for purposes other than
those specified herein, without prejudice to the options available to
LESSOR under Section 1, Article IV hereof.

1.4. The LESSEE violates any of the other terms and conditions of this
Lease Agreement or fails to get the necessary permits from the
national and/or local government units / agencies.

ARTICLE VII MISCELLANEOUS

1. Insurance. - The LESSEE shall obtain insurance coverage for the Leased
Properties, against all insurable risks applicable from a duly
accredited and reputable insurance company in an amount equal to the
maximum insurable value of the Leased Properties. The LESSOR shall be the
Beneficiary of the required Insurance. In case of complete loss or damage to
the Leased Properties, and/or the improvements therein, during the term of
this lease, the LESSOR shall have the option to reconstruct or restore the lost
or damaged Leased Properties, and/or the improvements therein, to their
original condition or to consider this lease automatically terminated. In case
of damage in part, rental shall be reduced in proportion to the remaining
tenantable or useable area.

2. Utilities. - All expenses for water, electricity, telephone, sanitation,

sewerage, gas and other public utility services shall be for the account of the
LESSEE. The cost of installation of utilities within the Leased Properties, such
as water and electricity, shall be for the account of the LESSEE; provided, that
any installation shall be under the control and supervision of the
LESSOR and the latter has the right to indicate where the meter connections
shall be placed.

3. Improvements. - The LESSEE shall not make any structural changes,

alterations, additions or improvements on the Leased Properties without the
prior written consent of the LESSOR. Any alterations or improvements made
or introduced by the LESSEE on the Leased Properties with the written consent
of the LESSOR shall, upon the termination of this Lease Agreement,
automatically be owned by the LESSOR without any obligation on the part of
the LESSOR to pay or refund its value or cost to the LESSEE.

4. Signs and Advertisements. - Subject to prior written consent of the

LESSOR, the LESSEE may install, erect or affix upon the Leased Properties,
signs or advertisements as may be necessary to promote and/or advertise the
business in which it is engaged in. In requesting the approval of the LESSOR,
LESSEE should submit a description and the specification of its proposed sign
or advertisement.

5. Care of Leased Properties. - The LESSEE shall, at its own expense,

maintain the Leased Properties in a clean and sanitary condition free from
noxious odors, disturbing noises or other nuisances. The LESSEE, its
employees, agents or representatives shall not in any manner damage or
deface any part of the Leased Properties.

The LESSEE shall comply with any and all reasonable rules and safety
regulations which may be promulgated from time to time by the LESSOR,
together with all the rules, regulations, ordinances or laws made by the duly
constituted authorities; either by the National or City government or any of
its agencies and instrumentalities, arising from or regarding the use,
occupancy and sanitation of the Leased Properties.

6. General Maintenance, Sanitation, Repairs and Safety. - The cost of

general maintenance and upkeep of the Leased Properties shall be for the
account of the LESSEE. The LESSEE shall keep the Leased Properties in a
clean, safe and sanitary condition and introduce all the needed repairs at all
times. The LESSEE shall dispose all its garbage, waste, and other pollutants
in accordance with the rules promulgated by the national or local government.
All major repairs resulting from damages not attributable to the LESSEE's
negligence shall be for the account of the LESSOR. For purposes of
this contract, repairs in amount not exceeding TWENTY THOUSAND PESOS
(P20,000,00) per occurrence of repairs shall be considered as minor repairs.

In case of damage to the Leased Properties or its appurtenances by fire,

earthquake, volcanic eruption, war or any unforeseen cause, the LESSEE shall
give notice to the LESSOR within a reasonable time. In the event that the
LESSEE through its own fault or negligence or that of its employees, agents
or representatives, damages the Leased Properties, and LESSEE fails to repair
the damage within a reasonable time, then the LESSEE shall be liable to
LESSOR for liquidated damages in an amount equivalent to six months rent
without prejudice to such other amounts as may be due LESSOR under this
Lease Agreement and/or the law.
7. Fire Hazard and Obnoxious Substances. - The LESSEE shall not
introduce, keep, deposit or store in the Leased Properties any obnoxious
substance or inflammable material or substance not reasonably connected
with the herein stated purpose of the lease which might constitute a fire
hazard, without the prior written consent of the LESSOR. The LESSEE shall
also not install within the Leased Properties any apparatus, machinery or
equipment which may cause obnoxious tremors or noises nor store
newspapers, cartons, wood, or other articles of light nature which may expose
the Leased Properties to fire or increase the fire hazard of the Leased
Properties or change its insurance rate.

8. Inspection of Premises. - The LESSOR reserves the right to

enter and inspect the Leased Properties at reasonable times during business
hours and with prior notice. The LESSEE agrees to cooperate with the LESSOR
in keeping the Leased Properties in good and tenantable condition.

9. Assignment. - The LESSOR reserves the right to assign, transfer or

encumber any of its rights and interests under this Lease Agreement to any
entity without the need of obtaining the consent of the LESSEE except to
notify the latter of the same. In the event of such transfer, assignment or
encumbrance, the rights and interest of the LESSEE under this Lease
Agreement shall be respected and observed in its entirety by such assignee,
transferee or mortgagee, and for the entire term hereof unless otherwise
mutually agreed upon by the parties including the LESSEE.

10. Return of Premises. - Upon the termination of this Lease Agreement for
any reason whatsoever, the LESSEE shall peacefully and immediately vacate
the Leased Properties and return possession thereof to the LESSOR in
good and tenantable condition, devoid of all occupants, equipment and effects
of any kind. Failure of the LESSEE to return the Leased Properties as provided
herein shall make it liable to pay liquidated damages to the LESSOR in an
amount equivalent to six (6) months rent without prejudice to such other
amounts as may be due LESSOR and/or such other remedies available to the
LESSOR under this Lease Agreement and/or under the law.

11. Right to Enter the Premises to Recover Actual Possession.- Upon

the failure of the LESSEE, or the sub-lessee as the case may be, to comply
with any of the terms and conditions of this lease or its failure to
vacate and return the premises as provided herein, the LESSOR or her
authorized representative(s) shall have the right, upon five (5) days written
notice to the LESSEE, or upon written notice posted at the entrance of the
Leased Properties for the same period, to enter and take possession of the
said premises, without need of resorting to any court action, holding, taking
custody and impounding such possessions and belongings of the LESSEE
found therein after conducting an inventory of the same in the presence of
witnesses, until such time that all the rentals, interests, penalties, unpaid
utility bills, damages or other amounts due to the LESSOR has been fully
settled by the LESSEE. All these acts being hereby agreed to by the LESSEE
as tantamount to his voluntary vacation of the leased premises without
necessity of suit in court and authorizing LESSOR to use all
necessary and reasonable force to break open doors and to enter the
premises and take actual possession thereof, and such entry and use of
reasonable force should not be regarded as trespass, nor be sued as such, or
in any wise be considered as unlawful.

12. Transfer of Rights. - The LESSEE shall not assign, or transfer or

encumber its rights under this lease without the prior written consent of the
LESSOR and no right, title or interest thereto or therein shall be conferred on
or vested in any other party other than the LESSEE without such written
consent.

13. Indemnity. - The LESSEE shall hold LESSOR free and harmless from any
loss, damage, injury suffered by the LESSEE, its agents or employees, clients,
guests or customers or other third persons arising out of the use of the Leased
Properties by LESSEE, its agents, employees, clients, guests, or customers
including but not limited to, claims for property damage, personal injury or
wrongful death, or losses or damages occasioned by reason of any event or
cause which could not be foreseen, or which, though foreseen, were inevitable
such as but not limited to fire, earthquake, lightning, typhoons, flood, volcanic
eruption, robbery, theft or other crimes. In addition, the LESSOR shall not be
liable nor responsible:
(i) For the presence of bugs, vermin, rats, insects, or other similar
creatures, if any, in the Leased Properties:

(ii) For the failure of electrical and/or water supply due to causes beyond
LESSOR's control;

(iii) For any injury, loss or damage which the LESSEE, its agents or
employees, might sustain while in the Leased Properties due to causes
attributable to the fault of said LESSEE, employees, agents and/or
representatives, or those of its clients, guests or customers;
(iv) For any damage done or occasioned by, or arising from the
plumbing, gas, water, and/or other pipes or air-conditioning system or
for the bursting, leaking or destruction of any tank, cistern,
washers, and water closets or waste pipelines in, above, upon, or about
said Leased Properties, nor for any damage arising from or attributable
to acts of negligence of the LESSEE or its agents, employees,
 representatives or any and all other persons over which the LESSOR has
no control.
14. Non-Waiver. - The failure of the LESSOR to insist upon a strict
performance of any of the terms, conditions and covenants hereof shall not
be deemed a relinquishment or waiver of any of the rights or remedies that
the LESSOR may have, nor shall it be construed as a waiver of any subsequent
breach or default of its terms, conditions and covenants which shall continue
to be in full force and effect. No waiver by the LESSOR of its rights under this
Lease Agreement shall be deemed to have been made unless expressed in
writing and signed by the LESSOR.

15. Amendments. - Any amendments or additional terms and conditions to

this Lease Agreement must be in writing.

16. Venue. - In case of any dispute arising in connection with this Lease
Agreement, the parties hereby agree that the venue for the settlement of the
dispute shall fall exclusively within the jurisdiction of the proper courts in the
City of _____________, Philippines.

IN WITNESS WHEREOF, the parties have set their hands and affixed their
signatures this _____________ in the City of _____________, Philippines.

DRA. MARY LOU C. MONASTERIO

LESSOR LESSEE

SIGNED IN THE PRESENCE OF:

 (ACKNOWLEDGMENT)

REPUBLIC OF THE PHILIPPINES)

_________________…………………….) S. S

BEFORE ME, personally appeared:

Name CTC/Passport Number Date/Place Issued

DRA. MARY LOU C. MONASTERIOMONASTERIO
JOEL BACO
Known to me and known to be the same persons who executed the foregoing
instrument and acknowledged to me that the same is their free and voluntary act and
deed.

This Contract of Lease consist of Nine (9) pages on which the acknowledgement is
written in all pages have been duly by the parties and their instrumental witnesses.

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

Doc. No.: _________

Page No.: _________
Book No.: _________
Series of 2019