CONTRACT OF LEASE

KNOW ALL MEN BY THESE PRESENTS:

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

(NAME), of legal age, Filipino, Married with postal address at (ADDRESS), represented herein
by its authorized signatory (NAME), hereinafter referred to as the LESSOR,

- and –

(COMPANY NAME). a corporation duly organized and existing under the

laws of the Philippines with office address at (ADRESS)., represented herein by its authorize signatory
(NAME) hereinafter referred to as the LESSEE;

WITNESSETH:

WHEREAS, the LESSOR is the registered owner of an Industrial vacant lot at (ADDRESS)
with an approximate area of Six Hundred Twenty Five (624) sq.m. more or less;

WHEREAS, the LESSOR has offered for lease Six Hundred Twenty four (624) sq.m. of the
aforementioned Lot and the LESSEE desires to lease the Leased Premises;

NOW, THEREFORE, for and in consideration of the foregoing premises and the mutual covenants
contained herein, the LESSOR hereby leases upon the LESSEE the Leased Premises and the LESSEE
hereby accepts the same, under the following terms and conditions:

1) TERM OF LEASE. This lease shall be for a period of ONE (1) year/s commencing on JANUARY
16, 2024 to JANUARY 16, 2025, renewable every year by giving email/written notice to renew at
least ninety (90) days prior to the expiration of the contract, upon terms and conditions mutually
agreed by the parties.

2) RENTAL – The parties herein agree that the monthly rental of the leased premises shall be
TWENTY EIGHT THOUSAND PESOS ONLY (P28,000.00), Philippine Currency, which Lessee
shall pay during the entire term of the lease, payable every eleventh (11th) day of each month
without the necessity of demand and/or services of a collector. The monthly rental shall be made
payable to (NAME). The LESSEE shall make a security deposit equivalent to one (1) month/s rental
of the leased premises. Upon signing of this contract of lease, LESSEE shall issue the corresponding
checks/payment as stated below to the LESSOR. Details of breakdown as follows :

a) P28,000.00 fixed non-interest bearing security deposit.

b) P28,000.00 advance rental for the first month/s.
c) P28,000.00/month PDC for the 2nd to the 12th month.
d) Grace Period - The LESSEE shall be given a fixed grace period of free rent from DECEMBER
15, 2023 to JANUARY 15, 2024 for construction and mobilization.
e) Rents shall not be interrupted by natural calamities like floods, earthquakes, riots, blackouts and
the like.
f) The LESSEE shall pay directly to the government and furnish the LESSOR with corresponding
receipt of payment (BIR 2307 – Certificate of Tax Withheld at Source).
g) All amounts due under this Contract of Lease shall be paid by the LESSEE without set-off or
counterclaim, free and clear of and without deduction for or on account of any Philippine taxes,
all of which shall be for the account of the LESSEE.

3) DOCUMENTARY STAMP TAX (DST) or other taxes accruing by reason of the execution of this
contract shall be for the account of the LESSEE.

4) REAL PROPERTY TAXES. All real property taxes levied or assessed or those which may
thereafter be levied or assessed on the Leased Premises, including penalties and charges and real
property taxes assessed on the improvements introduced by the LESSEE on the Leased Premises and
any Machineries or Equipments of the Lessee that is subject for taxes and back taxes, if any, shall be
for the account of the LESSEE for the duration of the lease.
5) NON-INTEREST BEARING SECURITY DEPOSIT. Upon signing of this Contract, the LESSEE
shall remit the sum of TWENTY EIGHT THOUSAND PESOS (P28,000.00) as Security Deposit.
The Security Deposit will not incur any interest and shall remain intact during the entire term of this
lease and shall not be applied by the LESSOR as payment for rentals, but shall serve as security to
answer for any unpaid utility bills, charges and other obligations due to the LESSOR under this
Contract, and real property taxes due on the improvements introduced by the LESSEE including
machineries and equipment, if taxable, are payable by the LESSEE while the LESSEE is in actual
occupancy of the leased premises and for as long as the Contract of Lease has not expired and/or
terminated. The Security Deposit shall be refunded by the LESSOR and returned to the LESSEE,
within Ninety (90) days after the expiration or termination of this Contract and after presentation by
the LESSEE to the LESSOR of proof that the former has paid all of its utility bills and real property
taxes, if any, and provided that the LESSEE has vacated the Leased Premises.

6) INSPECTION; NO WARRANTY. The LESSOR leases the Leased Premises 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 has no obligation whatsoever to make improvements or alterations
of any kind to the Leased Property in order to prepare the same for the LESSEE’S occupancy. The
LESSOR makes no representation or warranty as to the condition or suitability of the Leased Property
for the LESSEE’S use or fitness for a particular purpose.

7) USE OF THE LEASED PREMISES. The LESSEE shall use the Leased Premises
strictly and exclusively as Driving School with office. The LESSEE may have the option to use the
leased premises for any other legal business as well, provided it is with prior written approval from
the LESSOR. If the Leased Premises are used for other purposes without prior consent and written
approval, 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 Premises be used for immoral or illicit purposes and illegal acts or
purposes.

The LESSEE shall not alter the use of the leased premises or any portion thereof without the
prior written consent of the LESSOR;

The LESSEE may have the option to sublease the property to other legal businesses provided
that it is in accordance and guided by this lease contract. Provided also that the leased
premises to be subleased are with prior approval from the LESSOR. The LESSEE is to provide all
pertinent documents required by the LESSOR.

The LESSEE shall bear all responsibilities and liabilities that may arise from the subleasing of the
leased premises including, but not limited to, all taxation from the government.

8) ALTERATIONS AND IMPROVEMENTS. The LESSEE shall have the right to erect upon the
Leased Premises office space, as it may consider necessary for the operation of their business
thereon, without the need of the consent of the LESSOR, provided that the improvements installed
are necessary and appropriate for the use or purpose provided in paragraph 7 hereof.

 Any Permits/Licenses that may be required from the government in the erection of any
property/improvements that the Lessee requires shall be borne solely by the Lessee.

 The LESSEE shall hold the LESSOR or any of its successors, heirs or assigns, free and harmless
from any claim or demand, for its failure to obtain the necessary clearance permits, registrations
licenses, a Documents of similar import or nature, from the appropriate Government offices or
agencies in order to operate its DRIVING SCHOOL. In the event of such failure, no amount
shall be due the LESSEE from the LESSOR, except if it be for any prior negligent act or
omission of the LESSOR, in which case, the sole obligation of the LESSOR is to refund the
Security Deposits under Section 5 hereof.
  Upon the expiration or termination of this Contract, permanent physical improvements introduced
by the LESSEE on the Leased Premises during the term of this Contract, excluding those
improvements made on the existing building/warehouse owned by the LESSEE, which cannot be
removed therefrom without damage to such improvements and to the Leased Premises, shall vest
in and become the property of the LESSOR without obligation on the part of the LESSOR to
refund its value or cost to the LESSEE.

 In the event that the LESSOR refuses to accept the improvements made by the LESSEE, then the
LESSEE shall remove any improvements made or introduced thereon without any cost to the
LESSOR whatsoever, and deliver the Leased Premises to the LESSOR in the same physical
condition it was found at the time of delivery of the Leased Premises to the LESSEE. In the event
that the LESSEE fails to effect such removal, then any improvements remaining on the Leased
Premises shall be deemed automatically abandoned by the LESSEE, and the LESSOR may
thereupon enter the Leased Premises and cause the demolition or removal of such improvements,
without necessity of a court order, and charge the LESSEE the costs thereof.

9) UTILITIES AND SERVICES. Payment of all utilities bills, including electricity, telephone,
internet, cable, water bills, as well as, sanitation, sewerage and solid waste management, shall be for
Sole account of the LESSEE. The cost of installation of utilities within the Leased Premises, such as
water and electricity, if applicable, 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. The LESSEE shall also provide a copy to the
LESSOR for records purposes.

10) FIRE HAZARD AND OBNOXIOUS SUBSTANCES. - The LESSEE shall not introduce,
keep, deposit or store in the Leased Premises 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. The LESSEE shall also not install within the Leased
Premises any apparatus, machinery or equipment which may cause obnoxious tremors or
noises that will disturb the neighborhood.

 WHOLE AREA cannot be used as storage of highly combustible materials, highly

corrosive liquids, fuming or toxic material, no part of the area may be used for discarding
any acidic or acidified materials.

 LESSEE to have all the times at least two working fire extinguishers of at least 10lbs; and
must ensure that the immediate neighborhood is not subject to any fire or environmental
hazard or pollution

11) INSPECTION OF PREMISES. - The LESSOR reserves the right to enter and inspect the
Leased Premises at reasonable times during business hours and with prior notice. The
LESSEE agrees to cooperate with the LESSOR in keeping the Leased Premises in
good and clean condition.

12) RIGHT TO ENTER PROPERTY TO RECOVER ACTUAL POSSESSION.- Upon the

failure of the LESSEE 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 Premises 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 ways be considered as unlawful.

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 Premises 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 Premises:
(ii) For the failure of electrical and/or water supply and other utilities 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 Premises 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 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) COVENANTS

a) Maintenance. The LESSEE shall, at its sole expense, maintain the Leased Property and all
improvements thereon in a state of security and reasonable repair and in clean and sanitary
condition. For this purpose, it shall allow the LESSOR or its authorized agent to enter into and
inspect the buildings and improvements in the Leased Property at reasonable hours of the day
upon prior notice.
b) Compliance. The LESSEE shall strictly comply with laws, ordinance and regulations relative to
the maintenance of the Leased Property and the operation of the DRIVING SCHOOL. Any
penalties that maybe imposed for violation thereof shall be for the account of the LESSEE.
c) Repairs The LESSEE shall maintain the Leased Property in good tenantable condition at his/her
own expense. Plumbing and the repair of electrical fixtures attached to the Leased Property shall
be the responsibility of the LESSEE and any loss, destruction or damage caused by the
LESSEE’s negligence shall be for the LESSEE’s account.
d) Damages. The LESSOR shall not be liable for the loss of or damage to the goods and properties
within or about the leased premises or injury to persons within or about the said premises for any
cause whatsoever whether such loss, damage or injury might be sustained by the LESSEE, its
employee or visitors.
e) Assignment and Subletting LESSEE, shall have the right to assign or sublease any part of the
LEASED PREMISES, provided that any assignment or sublease shall be subject to all the terms
and conditions of this lease and the LESSEE shall remain primarily liable for the payment of the
rent and the performance of the terms and conditions of the lease.

16) SALE OR ENCUMBRANCE OF PREMISES. In the event of a sale, transfer, or mortgage or any
encumbrance of the Leased Premises to any person other than the LESSEE, the LESSOR shall
warrant and ensure that the purchaser, transferee, mortgagee or person in whose favor the
encumbrance is constituted shall respect all the terms and conditions of this Contract, including the
provision for Renewal thereof. To this end, the LESSOR shall cause the pertinent deed or agreement
with such person to reflect this foregoing commitment.
17) BREACH OR DEFAULT IN PAYMENT. In the event the LESSEE fails to pay its monthly rent
within the 11th day of each month, the LESSOR shall charge interest on the monthly rent at the rate
of FIVE (5) percent per month as liquidated damages without prejudice to the other rights and
options of the LESSOR under this contract.

The parties agree that all provisions contained herein, are conditions precedent to this Contract,
hence, this Contract shall be deemed to be automatically terminated or canceled for any violation by
the LESSEE in which event the LESSEE hereby appoints the LESSOR or its duly authorized
representatives as it ATTORNEY IN FACT with authority to take possession of the leased premises
and the goods and materials found therein and to sell the same in a public auction to answer for
whatever damages or losses the LESSOR may incur. Including unpaid rentals andutilities.

In the event that the LESSOR is compelled to seek judicial relief against the LESSEE, to payment of
damages and all costs of litigation including Attorney’s fees in the sum of no less than twenty five
(25%) of the amount involve or claim and which in no case shall be less than One Hundred Thousand
Pesos (Php 100,000.00).

18) TERMINATION.

A. The LESSOR shall have the right to terminate this Contract upon a thirty (30) day prior written
notice to the LESSEE in any of the following instances:

(i) The LESSEE fails to pay its monthly rent when the same falls due; or
(ii) The LESSEE uses the Leased Properties for purposes other than those specified herein,
without prejudice to the options available to LESSOR under USED OF THE LEASED
PREMISES hereof.
(iii) 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.
(iv) In the event of any violation by the LESSEE of the terms and conditions stipulated in this
Contract and the LESSEE fails to rectify or remedy the default within sixty (60) days from
its receipt of written demand from the LESSOR.

B. Should the LESSEE decide to pre-terminate this Contract, without just cause and through no fault
of the LESSOR, the LESSEE shall forfeit as liquidated damages in favor of the LESSOR the
Security Deposit and advance rental. LESSOR is without further recourse of any other remedy at
law or in equity

C. In the event of termination by the LESSOR of this Contract for causes under 18-A, the LESSEE
shall forfeit the Security Deposit as liquidated damages in favor of the LESSOR.

D. Furthermore notwithstanding the forfeiture of the deposits, the LESSEE shall still be liable to pay
the LESSOR any and all sum to be paid by the LESSEE, under this Contract of Lease. LESSOR,
shall likewise retain the amount of rent proportionate to the time period for which this Contract of
Lease has been in effect. A fraction of a month shall be considered a full month, for the purposes
of computing the amount of rent to be retained.

19) RETURN OF PREMISES. Upon expiration or termination of this Contract, the LESSEE shall
immediately vacate the Leased Premises and peacefully surrender complete possession thereof to the
LESSOR, devoid of all occupants, furniture, articles and effects of any kind, in the same condition,
except for such alterations, additions or improvements which pertain to the LESSOR in accordance
with the provisions of ALTERATIONS AND IMPROVEMENTS CLAUSE hereof.

20) ENTIRE AGREEMENT. This Contract represents the entire agreement between the parties with
respect to the subject matter hereof and supersedes any prior expression of intent, representation or
warranty with respect to this transaction. This Contract may only be modified by an instrument in
writing signed by both parties.

21) 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 Malabon, Metro Manila, Philippines.
22) SEVERABILITY. If any one or more of the provisions of this Contract is declared invalid or
unenforceable in any respect under any applicable law, the validity, legality or enforceability of the
remaining provisions contained therein shall not in any way be affected or impaired.

23) GOVERNING LAW. This Contract of Lease shall be governed by and construed in accordance with
the laws of the Philippines

IN WITNESS WHEREOF, the parties have hereunto affixed their signatures on this day of
___________________ at _____________________.

(NAME) (COMPANY NAME)

OWNER/LESSOR LESSEE
Represented By: Represented By:

(NAME) (NAME)
Authorized Representative Authorized Representative

Signed in the presence of:

_______________________ _______________________

ACKNOWLEDGMENT

REPUBLIC OF THE PHILIPPINES)

CITY OF )S.S.

BEFORE ME, a Notary Public for and in the ____________________, this ____________________,
personally appeared:

Name Valid Government ID Date/Place Issued Valid Until

NAME ID PLACE DATE

NAME ID PLACE DATE

known to me and to me known to be the same persons who executed the foregoing six ( 6 ) pages ontract
of Lease including the page where this acknowledgement is written. and who acknowledged to me that
the same is their free and voluntary act and deed as well as that of the corporation they represent.

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

Doc. No. _____;

Page No. _____ ;
Book No. _____;
Series of _____.