CONTRACT OF LEASE

KNOW ALL MEN BY THESE PRESENTS:

This CONTRACT OF LEASE executed this 13th day of September

2023, at Laoag City, Ilocos Norte by and between:
Rene Corpuz Sotto, of legal age, married, Filipino, with address at
Brgy. 38-B, Mangato, Laoag City, Ilocos Norte, hereinafter referred
to as the "LESSOR";
-AND-
Keyzar Dajugar, of legal age, married, Filipino, with resident
address at Brgy. 48-A, Cabungaan, Laoag City, hereinafter
referred to as the "LESSEE".
WITNESSETH That:

WHEREAS, LESSOR is the owner of THE LEASED PREMISE located at

Brgy. 11, Nalundasan Street, San Fernando, San Nicolas, Ilocos Norte
WHEREAS, the LESSOR has offered, and the LESSEE has accepted
LESSOR's offer to lease the Leased Premises under the terms and conditions
specified herein;
NOW, THEREFORE, for and in consideration of the payment of the rent
and compliance with all the conditions and covenants hereinafter contained,
the LESSOR has agreed to lease unto the LESSEE, and the latter has agreed
to accept by way of lease, the Leased Premises under the following terms and
conditions:

ARTICLE I
LEASED PREMISES
Section 1. Leased Premises. The Leased premises is building located at
Brgy. 11, Nalundasan Street, San Fernando, San Nicolas, Ilocos Norte owned
by the LESSOR.
Section 2. Inspection. No Warranty. The LESSOR leases the Leased
Premises to LESSEE on an "as is where is" basis.
The LESSEE hereby declares that it has fully inspected the Leased
Premises prior to the execution of this Contract and acknowledges that it is
fully satisfied with the condition thereof. The LESSOR makes no warranty or
representation as to the Leased Premises' condition or suitability for any
particular purpose, marketability, operational or structural capability, or as to
any hidden defects. In this regard, LESSOR shall not be deemed to have any
obligation to make any structural or other alteration, addition, or
improvement to the Leased Premises.

ARTICLE Il
TERM OF LEASE
Section 1. Term. This Contract shall be effective for a term of 20 (20)
years, commencing on 14 September, 2023, and expiring on 14 September,
2033.
Section 2. Notice. LESSEE shall give notice of interest to renew the lease
to LESSOR at least sixty (60) days prior to termination of this Contract.

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 Section 3. Extension or renewal of lease. After expiration of this
Contract or any extension or renewal thereof, and if the LESSEE continues to
occupy the Leased Premises with the implied consent of the LESSOR, said
extension of lease shall be understood as running from month-to-month only,
under the same terms and conditions herein stipulated or last agreed upon by
the parties. This hold over shall not result in the renewal or extension of this
lease and the month-to-month tenancy may be terminated by the LESSOR
without necessity of judicial action by means of a written notice served on the
LESSEE at least seven (7) days in advance prior to the date of such
termination.
ARTICLE III
CONSIDERATION
Section 1. Monthly Rental. The LESSEE shall pay the LESSOR a
monthly rental in the amount of SIX THOUSAND PESOS ONLY (PHP
6,000.00), exclusive of the TWELVE PERCENT (12%) Value Added Tax (VAT)
and net of the FIVE PERCENT (5%) withholding tax (WHT)

Section 2. Expenses for the Account of LESSEE. It is hereby agreed that

the LESSEE, aside from the monthly rental, payment for public utilities, shall
be for the account of the LESSEE such as but not limited to telephone,
electric, cable TV, water, Internet, and other public services and utilities
during the duration of the lease, and to be measured by separate meters, to be
installed by and on account of the LESSEE.

ARTICLE IV
USE OF THE LEASED PREMISES
Section 1. Use of Leased Premises. The Leased Premises shall be used
exclusively by the LESSEE for commercial purposes, as indicated by the
LESSEE'S Letter of Intent to Lease.
The LESSEE expressly agrees to submit its detailed design, build and
construction timelines, among others, to the LESSOR, which shall form part of
this Lease Contract, herein referred to as "ANNEX A". Any changes,
modifications, diversions, in the specified purpose of the Leased Premises,
shall be made in writing by the LESSEE subject to the approval of the
LESSOR.
Section 2. Prohibited Use. The LESSEE shall not use the Leased
Premises for gambling in any form whatsoever, or for any activity or act in
contravention of any law, ordinance, executive or administrative order, rule or
regulation issued by National or Local government authorities as well as
policies, guidelines, orders and regulations of the LESSOR.

ARTICLE V
CARE OF LEASED PREMISES
Section 1. Care of Leased Premises - The LESSEE shall, at its own
expense, maintain the Leased Premises in a clean and sanitary condition, free
from obnoxious odors, disturbing noises, or other nuisances including minor
improvements and maintenance.
Section 2. Compliance with Pertinent Laws. The LESSEE shall comply
with any and all laws, ordinances, administrative or executive orders, rules
and regulations of the National or Local Government authorities, as well as
rules and regulations promulgated by the LESSOR regarding the use,
occupation, sanitation and safety of the Leased Premises, and pay all the
necessary fees and taxes imposed by the Local or National Government.
Failure to comply with said laws, ordinances, regulations or orders shall be
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the exclusive risk and responsibility of the LESSEE. The LESSEE shall
indemnify and hold LESSOR free and harmless against all actions, suits,
claims for damages of third persons brought about by the non-performance of
this section by the LESSEE.
ARTICLE VI
IMPROVEMENTS & ALTERATION
Section 1. Improvements. The LESSEE, with the written consent and
approval of the LESSOR, may introduce improvements on the Leased
Premises. For this purpose, the LESSEE shall submit to the LESSOR a
detailed engineering plan which shall be subject to the review and approval of
the LESSOR.
It is expressly understood that the actual cost of the permanent
improvements introduced shall be for the account of the LESSEE.
It is also expressly agreed and understood that all permanent
improvements made on the Leased Premises shall upon completion thereof,
form an integral part of the Leased Premises, and shall not be removed
therefrom, but shall belong to and become the exclusive property of the
LESSOR and the LESSEE shall have no right to reimbursement of the cost or
value thereof.
Section 2. Advertisements. The LESSEE may affix, inscribe, paint or
otherwise put up any notice, signboard or any other advertising medium on
any part of the Leased Premises with the prior written consent of the LESSOR
and then only for and under such specifications as the LESSOR may
determine.
Section 3. Alterations. It is expressly agreed and understood by both
parties, that the LESSEE can make any alteration in the Leased Premises with
the prior written consent and approval of the LESSOR, at the LESSEE'S cost,
provided the same is within the scope of the design stipulated in "ANNEX A"
hereof.
ARTICLE VII REPAIRS
Section 1. Repairs. The LESSEE shall make repairs, or to undertake
those works for maintenance and repair due to normal wear and tear, for the
preservation, conservation, or decoration of the Leased Premises. The repairs,
such as, but not limited to, electrical outlets, telephone, switch boxes,
electrical wiring and plumbing fixtures, replacement of parts shall be done
only by the LESSEE and at LESSEE'S expense.

ARTICLE IX
TERMINATION OF LEASE
Section 1. Termination or expiration of lease. The LESSEE, at the
expiration, cancellation or termination of the term of this Contract as herein
provided, shall promptly deliver the said Leased Premises to the LESSOR in
good condition, reasonable wear and tear excepted, devoid of all occupants,
furniture, articles and effects of any kind.

IN WITNESS WHEREOF, the parties hereto have caused this Contract of

Lease to be duly executed at the place and on the date first above-written.

By:

ARTEMIO P. PERE
(LESSOR)
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 ACKNOWLEDGMENT
(FOR LESSOR)

REPUBLIC OF THE PHILIPPINES )

CITY OF LAOAG ) S.S.

BEFORE ME, a Notary Public for and in Laoag City and Ilocos
Norte, personally appeared:

Name Competent Evidence of Date/Place of Issue

Identity No.

Keyzar Dajugar Laoag City/July 14,

2021

Who was identified by me through competent evidence of identity to be the

same person who personally executed the foregoing instrument and who
personally acknowledged before me that the same is his free and voluntary act
and deed.
WITNESS MY HAND AND SEAL this ____________ in _______________,
Philippines.

Doc. No. ______;

Page No. ______;
Book No. ______;
Series of 2023.

IN WITNESS WHEREOF, the parties hereto have caused this Contract of

Lease to be duly executed at the place and on the date first above-written.

Keyzar Dajugar
Lessee
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 ACKNOWLEDGMENT
(FOR LESSEE)

REPUBLIC OF THE PHILIPPINES)

CITY OF LAOAG ) S.S.

BEFORE ME, a Notary Public for and in Laoag City and Ilocos
Norte , personally appeared:

Name Competent Date/Place

Evidence of Identity No. of Issue

LORETA P. PAQUIA

Who was identified by me through competent evidence of identity to be the

same person who personally executed the foregoing instrument and who
personally acknowledged before me that the same is her free and voluntary act
and deed.
WITNESS MY HAND AND SEAL this ____________ in _______________,
Philippines.
Doc. No. ______;
Page No. ______;
Book No. ______;
Series of 2023.