CONTRACT OF LEASE

KNOW ALL MEN BY THESE PRESENTS:

This Contract of Lease, made and entered into this 1 ST day of June 2022 by and between:
PRESENTACION G. RANARA, of legal age, Filipino and resident of CAN-UPAO, JAGNA, BOHOL, Philippines,
hereunder called the LESSOR;

And

BRITT AXL SANCHEZ, of legal age, Filipino and resident of 4 TH East Ext. Tubod Iligan City, Philippines,
hereinafter called the LESSEE;

WITHNESSETH: That

WHEREAS, the LESSOR is registered and absolute owner of commercial building, constructed on a lot
owner by the said LESSOR, located at Can-upao, Jagna, Bohol, Philippines, hereunder referred to as the “LEASED
PREMISES”

WHEREAS, the LESSEE desires to lease and does hereby accepts in lease a portion of the “LEASE
PREMISES”, shall be Two (2) – storey building, hereinafter described as Area by LESSEE for his/her business and the
LESSOR is willing to lease the same unto the LESSEE, subject to the terms and conditions hereinafter specified.

NOW, THEREFORE, for and in consideration of the foregoing and mutual covenants hereinafter contained,
the LESSOR has let and by these presents does hereby let and lease unto the LESSEE, the aforesaid Two (2) – storey
building of the “LEASED PREMISES” and the LESSEE hereby accepts the same way of lease, subject to the following
terms and conditions:

1. Term of Lease – This contract of Lease should be for the period of Three (3) YEAR commencing on June 01
2022 and ending on June 01, 2025. The same is renewable upon negotiation at the option, terms and
conditions and mutually acceptable to both parties;

2. Lease Rental – In the use and occupancy of the “LEASED PREMISES”, the LESSEE shall pay the LESSOR the
amount of Twenty Thousand Pesos (P20,000) per month with escalation rate of 10% based on the amount
of the first monthly rental every after two years.

Monthly rental will be paid every 5th day of the month and shall be directly paid to the LESSOR.

3. Use of “Leased Premises” – The LESSEE shall use the “LEASED PREMISES” for the operation of business
and for no other purposes. Should the LESSEE violate this provision, the LESSOR may terminate this
agreement by giving at least thirty (30) day/s notice to the LESSEE;

4. Unpaid Rentals or Breach of Conditions – if the rental herein stipulated or any part thereof, at any time,
shall be in arrears and unpaid on due rate or if the LESSEE shall, at any time, fail to neglect to comply or
perform with any of the covenants condition, or agreements or instructions herein stipulated,
then and in any such cases, the LESSOR shall have the right to terminate this Lease Contract.

Pursuant to the foregoing, the LESSEE confirms and acknowledges the right of the LESSOR to the “LEASED
PREMISES” without need of demand upon failure of the LESSEE to pay rent for three (3) consecutive months.

In this connection, the LESSEE hereby agrees to vacate the “LEASED PREMISES” and return the same to the LESSOR
in the same condition, less ordinary wear and tear, without need of demand. Failing which, the LESSEE expressly
agrees and do hereby allows the LESSOR to personal belongings within the. “LEASED PREMISES” shall be held for
safekeeping to answer for all unpaid obligations of the LESSEE.

5. Lessee’s Guarantee – The LESSEE hereby guarantees that the occupants of the “LEASED PREMISES”
shall abide and comply with all the terms and conditions of this Contract;

6. Lessor’s Liability – The LESSOR shall not be liable for any injury, loss or damage which the LESSEE, its
agents or employees as well as its guests and visitors might sustain in the “LEASED PREMISES” due to any cause
whatsoever.

7. Fixtures – The LESSEE shall be held responsible at all times for all damages on the “LEASED PREMISES”
including, but not limited to the fixtures such as: door lacks/knobs, glass, windows, electrical outlets/switches
installed on the “LEASED PREMISES” cause by or due to fault negligence of the LESSEE, its agents or employees as
well as its guests and its visitor; otherwise repairs for damage shall be charged to the account of the LESSEE.
 8. Improvements – The LESSEE shall not make any structural changes, alterations or improvements in the
LEASED PREMISES without the written consent of the LESSOR. It is agreed that the cost of any changes or
alterations allowed to be introduced on the LEASED PREMISES shall be borne solely by the LESSEE. It is also agreed
that any major alterations or improvements made or introduced by the LESSEE in the LEASED PREMISES with the
written consent of the LESSOR shall, upon the termination of this Contract of Lease, automatically ensure to the
benefit of the LESSOR without any right of reimbursement. Other improvements such as vault door and its frame,
furnitures and fixtures, office equipments, (such as air conditioning unit, vault safe cabinet-lord series model),
movables frame lights, and security alarm gadgets belongs to LESSEE and can be removed upon termination of the
lease.

9. Sanitation and Repairs – The LESSEE shall keep and maintain the LEASED PREMISES in clean and
sanitary condition, free from noxious odor and disturbing noises. The LESSOR shall be responsible for all major
repairs on the premises, except repairs due to the fault or negligence of the LESSEE, its agents and representatives
as well as its guests and its visitors and excluding repairs of improvements introduced by the LESSEE. Minor repairs
shall be for the account of the LESSEE. An amount less than FIVE THOUSAND PESOS (P5,000.00) is considered a
minor repair.

10. Inspection of Premises – The LESSOR, during the duration of the term of this Lease, with prior consent
of the LESSEE, reserves the right to enter, inspect and view the condition of the LEASED PREMISES at any
reasonable hour of the day or night.

IN WITHNESS WHEREOF, the parties have hereunto set their signatures this ___________ day of
_________________, ______, in the municipality of Jagna, Bohol, Philippines.

BRITT AXL SANCHEZ PRESENTACION G. RANARA

SIGNED IN THE PRESENCE OF:

_________________________ ____________________

REPUBLIC OF THE PHILIPPINES)

BEFORE ME, this _____________________ day of _______________________, ________________ in the

1. ________________ ________________ issued at _____________________ on _______________

Known to me and known to be same persons who executed the foregoing instrument and they acknowledged the
same to be their free ast and deed.

WITNESS my hand and seal on the date and place above-written.

Doc. No. ___________