CONTRACT OF LEASE

KNOW ALL MEN BY THESE PRESENTS:

This CONTRACT OF LEASE made and entered into by and between:

VIRGO JJ PLAZA CO., a partnership duly organized and existing under and by
virtue of the Philippine Laws, with address at Lot 1, Block 22, Victoneta Avenue, Potrero,
Malabon City, represented in this act by its duly authorized representative,
____________________, hereinafter referred to as the "LESSOR";
- and-

__________________, a corporation/partnership/sole proprietorship duly

organized and existing under and by virtue of the Philippine Laws, with office address at
_____________________________ City, represented in this act by its
________________________, hereinafter referred to as the "LESSEE".

WITNESSETH: That -

WHEREAS, the LESSOR is the owner of a commercial space located at the VIRGO JJ PLAZA
with address at Lot 1, Block 22, Victoneta Avenue, Potrero, Malabon City, which premises shall
hereinafter be referred to as the “LEASED PREMISES”;

WHEREAS, the LESSEE desires to lease the LEASED PREMISES and the LESSOR is willing
to lease out the same unto the LESSEE, under the terms and conditions hereinafter provided;

NOW, THEREFORE, for and in consideration of the foregoing premises and the faithful
compliance with all the terms, provisions, conditions and covenants herein set forth, the LESSOR hereby
leases unto the LESSEE and the LESSEE hereby accepts the LEASED PREMISES, subject to the
following terms and conditions:

1. LEASE PERIOD - The term of lease shall be for a period of _____ (_) year commencing on
__________________ and expiring on ________________, renewable upon mutual agreement of
both parties.

2. RENT - The LESSEE shall pay to the LESSOR, as consideration of this lease, a
monthly rental of PESOS: _________ THOUSAND (PhP xx,000.00), Philippine
Currency. This monthly rental already includes the use of ___ (_) parking space exclusive for the
LESSEE. It is further agreed that the monthly rent shall be subject to an automatic escalation rate
of 2% per annum starting from the anniversary date of this Contract.

3. ADVANCE PAYMENT AND DEPOSIT – the LESSEE shall pay to the LESSOR a security
deposit equivalent to two (2) months rent or PESOS: XXX THOUSAND (PhP XX,000.00),
Philippine Currency. The LESSEE shall likewise pay to the LESSOR an advance rental
equivalent to two (2) months rent or PESOS: XXX THOUSAND (PhP XX,000.00).
CONTRACT OF LEASE 2
Virgo JJ Plaza (Lessor)
______________________. (Lessee)
January 1, 2019 to December 31, 20__
------------------------------------- -

The security deposit shall be held in trust by the LESSOR for the LESSEE, to be returned
at the expiration of the term of the lease or cancellation of this Contract, without interest, less the
following:

(a) Damages the LESSEE or its directors, officers, employees, guests, agents or
assignees may cause on the LEASED PREMISES, and/or any of the
improvements found therein, excepting damages due to normal wear and tear;

(b) Damages resulting from either the LESSEE's negligence or that of its directors,
officers, employees, guests, agents or assigns in the use or misuse of the
LEASED PREMISES or any utilities;

(c) Unpaid bills for electrical and water consumption within the LEASED
PREMISES;

(d) Damages and expenses resulting from the LESSEE's failure to promptly pay rent
or any property utilities, including but not limited to late payment charges,
penalties, fines, fees, utility reconnection expenses, collection expenses, etc.
associated with the use of the LEASED PREMISES or any of its utilities;

(e) The costs, charges, liabilities and liquidated damages, if any, due from LESSEE
as provided in this Contract.

By this contract, the LESSEE hereby authorizes the LESSOR to make the above-
mentioned application of payments.

The deposit is separate and distinct from rental payments and shall in no case be applied
to pay for any obligation of the LESSEE to the LESSOR on account of unpaid rentals.

4. ELECTRICITY - The LESSEE shall pay to the utility provider (MERALCO) the electricity
consumed in the LEASED PREMISES.

5. WATER - The LESSEE shall pay to the LESSOR the cost of water consumed based on rules and
regulations promulgated by the LESSOR based on the consumption plus 20% administration fee.
Should individual meters be available, the LESSEE shall pay the bill directly to the water
provider (MAYNILAD) without further administration charges.

6. USE OF LEASED PREMISES - The LEASED PREMISES shall be used exclusively as a

_____________, and shall not be used as an office for recruitment of laborers and workers, or as
dwelling or residence, or for any other purpose which is contrary to laws, without the prior
written consent of the LESSOR.

7. IMPROVEMENTS AND ALTERATIONS - The LESSEE shall not introduce any

improvements in, or any addition to the LEASED PREMISES or make any alterations therein
without the prior written consent of the LESSOR. Permanent improvements and additions
CONTRACT OF LEASE 3
Virgo JJ Plaza (Lessor)
______________________. (Lessee)
January 1, 2019 to December 31, 20__
------------------------------------- -

introduced without damage to the LEASED PREMISES or any part thereof shall automatically
become the property of the LESSOR and shall remain upon and be surrendered with the
LEASED PREMISES at the expiration or earlier termination of the lease without any obligation
on the part of the LESSOR to pay or make reimbursements thereof.

8. TAXES ON IMPROVEMENTS - During the lease period, the LESSEE shall pay for any taxes
on the improvements introduced or to be introduced by it on the LEASED PREMISES, should
there be any.

9. SUB-LEASE OR TRANSFER OF RIGHTS - The LESSEE shall not, without the prior written
consent of the LESSOR, assign or transfer its rights in this Contract nor sublease or sublet all or
any part of the LEASED PREMISES and no right, title or interest thereto or therein shall be
conferred on or vested in anyone other than the LESSEE without such written consent.

The sub-lessee(s) shall be bound by and comply with all the terms and provisions of this
Contract, particularly those pertaining to the conduct of business, insofar as the same are
applicable. This condition shall be expressly provided for in all sublease contracts entered into in
accordance herewith.

10. DEGREE OF DILIGENCE, DAMAGE AND WARRANTIES -

(a) The LESSEE shall exercise the diligence of a good father of the family in the use of the
LEASED PREMISES, and in the conduct of its operation on the LEASED PREMISES.

(b) The LESSEE hereby assumes full responsibility for any and all damages which may be
caused to the person or property of third persons while remaining either casually or in
business in any part of the LEASED PREMISES and the LESSEE further binds itself to
hold the LESSOR free and harmless from any such claim for injury or damage unless
such injury or damage is due to the gross negligence of the LESSOR.

11. INSPECTION OF LEASED PREMISES - The LESSOR or its duly authorized

representative(s) shall have the right to enter and inspect the LEASED PREMISES, and to make
such repairs thereon as it may deem necessary, during reasonable hours of the day and after due
notice thereof has been given to the LESSEE.

12. SANITATION AND REPAIRS - The LESSEE shall keep the LEASED PREMISES clean and in
sanitary condition at all times.

The LESSEE shall likewise maintain the LEASED PREMISES in good repair and
condition. The LESSEE shall also be responsible for the repair of any damage caused on the
LEASED PREMISES on account of the negligence of the LESSEE, its directors, officers,
associates, assistants or any of its employees, agents or assignees.

13. WARRANTY - The LESSOR hereby warrants the peaceful and continuous possession and
enjoyment of the LEASED PREMISES by the LESSEE; the LESSOR shall indemnify and hold
CONTRACT OF LEASE 4
Virgo JJ Plaza (Lessor)
______________________. (Lessee)
January 1, 2019 to December 31, 20__
------------------------------------- -

the LESSEE free and harmless from claims, suits, proceedings, actions and other demand of third
parties claiming title, possession or any other interest in respect of the LEASED PREMISES or
any portion thereof.

The LESSOR shall not be liable or responsible for:

(a) Any injury, loss or damage which the LESSEE, its officers, agents, employees, customers
or guests might sustain in the LEASED PREMISES due to any cause whatsoever;

(b) Any and all damages arising from acts of negligence of the LESSEE or its officers,
employees, agents, other tenants of the Building, customers and guests or any and all
other persons;

(c) Any damage arising from strikes, and other similar actions undertaken by the personnel
of other tenants of the LESSOR; and

(d) Any damage arising from natural calamities and/or acts of God.

14. BREACH AND DEFAULT - The LESSEE hereby expressly agrees that all the terms,
provisions and agreements herein contained shall be deemed conditions as well as covenants and
that if default or breach be made of any such covenants and conditions, then this Contract, at the
discretion of the LESSOR, may be terminated and cancelled forthwith and the LESSEE shall be
liable for any and all damages, actual and consequential, resulting from such default or breach.

If after ten (10) days notice has been given to the LESSEE of the termination or
cancellation of this Contract on account of the LESSEE's failure to pay the rent or any other
default or breach of the Contract, including, but not limited to, the refusal of the LESSEE to
surrender the LEASED PREMISES at the expiration of the Contract, and the LESSEE fails to
comply with the LESSOR's demand for the return of the possession of the LEASED PREMISES
and the payment of the LESSEE's accrued obligations pursuant to the provisions of this Contract,
the LESSEE hereby empowers the LESSOR and/or its authorized representatives to open, enter,
occupy, padlock, secure, enclose, fence and/or discontinue public utilities and otherwise take full
and complete physical possession and control of the LEASED PREMISES without resorting to
court action; to take inventory and possession of whatever equipment, fixtures, device and
improvements that may be found therein belonging to the LESSEE, its agents and unauthorized
sub-lessees and/or to any other persons as security for the payment the LESSEE's obligations
under this Contract; and to place them in any warehouse for safekeeping, charging to the LESSEE
the corresponding storage fees therefor, and in case the LESSEE or the other owners thereof fail
to claim said equipment, fixtures, device and improvements from storage and liquidate any
liability to the LESSOR within thirty (30) days from the date the LESSOR takes possession of the
LEASED PREMISES or of the LESSEE's personal properties, to dispose of said properties in a
public sale and to apply the proceeds thereof to whatever liability and/or indebtedness the
LESSEE may have to the LESSOR, plus reasonable expenses for the sale including storage fees,
and the balance, if any, shall be turned over to the LESSEE. For purposes of this provision and
other pertinent provisions in this Contract, the LESSEE hereby constitutes the LESSOR and its
CONTRACT OF LEASE 5
Virgo JJ Plaza (Lessor)
______________________. (Lessee)
January 1, 2019 to December 31, 20__
------------------------------------- -

authorized representatives as the LESSEE's attorneys-in-fact and all acts performed by them in
the exercise of their authority are hereby confirmed and ratified. The LESSEE hereby expressly
agrees that any or all acts performed by the LESSOR, its authorized agents, employees and/or
representatives under the provisions hereof may not be the subject of any petition for a Writ of
Preliminary Injunction or Mandatory Injunction in any court or administrative agency.

Provisions of a penal character in other provisions of this Contract shall be considered as

cumulative and not exclusive, and the LESSOR shall be entitled to pursue either the rights
enumerated in this Contract or the remedies authorized by law, or both.

15. RULES AND REGULATIONS - The LESSEE shall abide by all rules and regulations which
may, from time to time, be promulgated by the LESSOR, including, but not limited to those
pertaining to sanitation.

16. TERMINATION OF LEASE - The lease may be terminated by either party at any time for any
violation by the other of any of the terms and conditions hereof. In case the violation consists in
the failure on the part of the LESSEE to pay any of the rentals as well as any of its financial
obligations under this Contract of Lease, the LESSEE shall be liable for interest of two percent
(2%) per month on said unpaid rentals and other obligations, by way of liquidated damages.

17. PRE-TERMINATION - In the event that this lease is terminated at the instance of the LESSEE
before the expiration of the stipulated period, the LESSEE agrees to pay the LESSOR the amount
equivalent to the deposit set forth in paragraph 3 as liquidated damages. However, this paragraph
does not apply if the termination at the instance of the LESSEE.

18. SURRENDER OF THE LEASED PREMISES -

(a) The LESSEE acknowledges that the LEASED PREMISES are in good and
tenantable condition, satisfactory and proper for the use and purpose stated
herein, and the LESSEE agrees to keep the same in such good and tenantable
condition.

(b) Upon the expiration of this Contract, or upon its termination or cancellation, the
LESSEE shall vacate and peacefully deliver to the LESSOR the physical
possession of the LEASED PREMISES in the same condition as they were at the
commencement of the lease, ordinary wear and tear being excepted, devoid of
occupants, equipment, furniture, articles and similar items belonging to the
LESSOR or any other person, other than the alterations, additions or
improvements which pertain to the LESSOR in accordance with the provision of
Section 9 hereof.

(c) Should the LESSEE fail to vacate the LEASED PREMISES, the LESSOR, shall,
after giving written notice to the LESSEE, have the right to enter upon and take
possession of the LEASED PREMISES extrajudicially, without being liable for
any prosecution for damages. The LESSOR shall further have the right to
CONTRACT OF LEASE 6
Virgo JJ Plaza (Lessor)
______________________. (Lessee)
January 1, 2019 to December 31, 20__
------------------------------------- -

remove and/or dispose all things that may be found inside or within the LEASED
PREMISES and all expenses incurred for the removal, disposal and/or storage of
said things shall be for the exclusive account of the LESSEE.

19. ATTORNEY'S FEES - In the event that the LESSOR is compelled to seek judicial relief against
the LESSEE, the latter shall, in addition to any other damages suffered by the LESSOR, pay an
amount equivalent to twenty-five percent (25%) of the amount due as attorney's fees, which,
however, shall in no case be less than FIFTY THOUSAND PESOS (P50,000.00), apart from the
costs of the suit and other litigation expenses which the law allows the LESSOR to recover from
the LESSEE.

20. NON-WAIVER - The failure of the LESSOR to insist upon the strict performance of any of the
terms and conditions of this Contract shall not be deemed relinquishment or waiver of any right
or remedy that the LESSOR may have, nor shall it be construed as condonation of any subsequent
breach or default of the terms and conditions of this Contract, which terms and conditions shall
continue to be in full force and effect. No waiver by the LESSOR of any of its rights under this
Contract shall be deemed to have been made unless expressed in writing by the duly authorized
representative of the LESSOR.

21. VENUE - The venue of all suits or actions arising out of or in connection with this Contract shall
exclusively be in the proper courts of Malabon City, to the exclusion of other applicable venues.

22. ENTIRE AGREEMENT - This Contract constitutes the entire agreement of the parties with
respect to the subject matter hereof. It may be varied, modified, altered or amended only by a
written instrument executed by the parties subsequent to the date of the execution hereof.

23. AUTHORITY - Each of the parties hereto represents and warrants that it has full power and
authority to enter into and perform its obligations under this Contract. All necessary actions,
consents and approvals for the execution of this Contract have been taken and/or obtained. This
Contract constitutes the legal, valid and binding obligations of each of the parties enforceable in
accordance with its terms.

IN WITNESS WHEREOF, the parties have signed this Contract of Lease on

_________________ at Malabon City, Philippines.

VIRGO JJ PLAZA CO.

(Lessor) (Lessee)

By: By:

(Duly authorized for the purpose) President

Signed in the presence of:

CONTRACT OF LEASE 7
Virgo JJ Plaza (Lessor)
______________________. (Lessee)
January 1, 2019 to December 31, 20__
------------------------------------- -

______________________ ____________________

ACKNOWLEDGMENT

REPUBLIC OF THE PHILIPPINES )

MAKATI CITY ) SS.

BEFORE ME, a Notary Public for and in the above jurisdiction, on_______________,
personally appeared the following:

Name Competent Evidence Date/Place Issued

of Identity

known to me and to me known to be the same persons who executed the foregoing instrument and they
acknowledged to me that the same is their free and voluntary act and deed and those of the corporations
herein represented.

I hereby certify that the foregoing instrument refers to a CONTRACT OF LEASE consisting of
seven (7) typewritten pages including this page whereon the acknowledgment is written, and signed by
the parties and their instrumental witnesses on each and every page thereof.

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

Doc. No. _____;

Page No. _____;
Book No. _____;
Series of 2018.