CONTRACT OF LEASE

KNOW ALL MEN BY THESE PRESENTS:

This Contract of Lease, made and entered into this _____ day of ______ 2022 at Manila,
Philippines by and between:

DAVE P. SAHIJWANI, married of legal age, with postal address at No. 65 Magallanes
Ave. Magallanes Village, Makati City hereinafter referred to as the “LESSOR”.

AND

FRANKLIN NOLIDO AND MARIA CONCESA NOLIDO ., with address at Blk 30

Lot 33 Rodehills Subd. Alfonso Cavite , , hereinafter referred to as the “LESSEE” .

WITNESSETH, that

WHEREAS, the LESSOR is the absolute owner of APARTMENT No. 3 located at

No. 7 Interior Outlook Drive Baguio City. hereinafter referred to as the LEASED PREMISES.

WHEREAS, the LESSEE desires to lease the LEASED PREMISES and the LESSOR is
willing to lease the same to the LESSEE.:

NOW THEREFORE, for and in consideration of the foregoing and mutual covenants
herein contained, the LESSOR has let and by these presents does hereby let and lease unto the
LESSEE the LEASED PREMISES on its present condition and the LESSEE hereby accepts the
same by way of lease subject to the terms and condition.

PEROD OF LEASE

This lease shall be for a period of one (_1_) year commencing on January 05, 2023 and
ending on January 04,, 2024 , The LESSEE has absolute right further renew the lease
agreement as per the provisions of “Renewal of Lease “contained under paragraph 3 of
this contract.

2. RENTAL RATE AND PAYMENTS

The Parties herein agree that the monthly rental rate of the Leased Premises shall be in
PESOS: THIRTY THREE THOUSAND PESOS ONLY, (P33,000.00), Philippine
Currency, The Lesssee will pay the LESSOR one (1) year Advanced Rental
covering entire period of Lease.

The leased rates will be increase of 5% on the 2nd year upon RENEWAL of
CONTRACT of Lease

3. SECURITY DEPOSIT

Upon signing of this agreement, the LESSEE agrees to pay the LESSOR the number of
PESOS: SIXTY SIX THOUSAND THOUSAND PESOS (Php 66,000.00) only,
Philippine Currency, representing Two (2) Mo. Security Deposit non-interest-bearing
deposit which shall be held by the LESSOR during the entire term of lease. This deposit
shall answer for the following obligations at the end of this lease
 3.1 any unpaid bills for water, gas, electricity, and telephone, and cable TV charges,
and;

3.2 any damages to the premises hereon attributable to cause other than the ordinary
wear and tear and acts of GOD.

3.3

Such damages and unpaid bills shall be deducted from the deposit, and the balance, if
any, shall be refunded by the LESSOR to the LESSEE no later than sixty (60) days upon
the expiration of this Contract and surrender of the subject premises, and upon settlement
of accounts noted herein, without the need of any demand.

The LESSOR shall provide receipts and documents to show in detail how the said
deposit was applied to the payment of outstanding bills and/or other obligations of the
LESSEE as contained in this agreement.

In the event the said two (2) months deposit is insufficient to cover for the utility bills
such as electricity, telephone, water and gas or damages, the LESSEE guarantees to
undertake payment to the LESSOR within fifteen (15) days from written notification by
the LESSOR.

4. PUBLIC UTILITIES AND OTHER EXPENSES

For the whole duration of the lease, all bills for the electricity, gas, water, telephone,
cable TV fees and other public utility services as well as the garden and maintenance
expense and the general household pest control (ants, cockroaches, rodents, fleas, etc.)
shall be for the account of the LESSEE. Structural pest control (termites, wood bearers,
garbage fee etc.) shall be for the account of the LESSEE.

5. USE OF PREMISES

The LEASED PREMISES shall be used for residential purpose only and shall not
be converted to any other purpose without written consent of the LESSOR.

6. SUB -LEASED AND ASSIGNMENT

The LESSEE shall not assign or transfer his rights in this contract nor sublease or sub-let
all or any part of the LEASED PREMISES nor allow third parties to occupy said
premises in his name, without the prior written consent to the LESSOR.

7. ALTERATIONS, ADDITIONS, IMPROVEMENTS

The LESSEE shall not make any major alterations or improvements on the
LEASEDPREMISES or any permanent major structural charges without the written
consent of the LESSOR, provided however, that all such alterations or improvements
made or introduce by either party in or upon the LEASED PREMISES, except the
movable items put in at the expense of the LESSEE and removable without defacing or
injuring building or the LEASED PREMISES shall upon the termination of lease,
automatically insure to the benefit of the Leased Premises and become property to the
LESSOR, without any obligation on the latter’s part to pay for its value or cost to the
LESSEE.

8. SANITATIONS AND REPAIRS

The LESSOR undertakes to deliver the LEASED PREMISES to the LESSEE in

good, clean and tenantable condition. The LESSEE is turn, shall at all times keep and
maintain the premises, lighting, fixtures and equipment at his expense. In as good, clean,
sanitary and habitable condition as when received from the LESSOR, taking into
 consideration ordinary wear and tear. The LESSOR shall be responsible for repairs on the
premises for plumbing, electrical and sewerage installation including water pressure
pump

and water tanks which are caused by structural defects by storms or acts of nature and for
any equipment found to be defective not functioning for the purpose intended for in this
lease except repair/s due to the fault or negligence of the LESSEE, embers of his
household guests or relative. damages and or breakdown in the leased premises due to
age and/or previous use occurring within the first thirty (30) days of actual occupancy of
the premises by the LESSEE shall likewise fall under the responsibility of the LESSOR.

The LESSEE shall be responsible for minor repairs incurred through, ordinary usage
amounting to PESOS: FIVE THOUSAND PESOS (PHP5,000.00) and below (labor and
materials per occurrence such as but not limited to:

a.) Replacement of light bulbs and faucet

b.) Breakage or loss of faucet handles, shower heads, drawer or cabinet pulls and
catches, key locks, toilet mechanism (seat and water tank covers), electrical
switches or outlets, buzzer, minor faucets leaks and damaged doorknobs, clog
toilet bowls, clogs sinks, broken screens and similar items that may be required in
the LEASED PREMISES.

c.) Routine cleaning necessary to ordinary usage of air-conditioning units and other
equipment in the premises, which may be necessary for its preservation.

d.) Clogging of sanitary and plumbing installation., It is further agreed that all repairs
to be undertaken by the LESSOR as stipulated in this contract shall be attended
immediately and in no case shall it be later than three (3) days
from the time the LESSEE serves notice in writing of such needed repairs.

Should the LESSOR fail to respond to the needed repair after this period, the
LESSEE shall have the option to secure services for the said repairs. In such
cases, the LESSOR agrees to make direct payments for the cost of the repairs
upon notice from the LESSEE.

In the event the LESSEE is constrained to make such payments, the LESSOR
shall reimburse the amount to the LESSEE within three (3) days from the receipt
of documents evidencing such payments. Conversely, same shall apply to repairs
assignable to the LESSEE.

9. PROHIBITIONS

The LESSEE shall not keep, deposit or store in the LEASED PREMISES anything of
highly flammable nature or explosive boar install any apparatus, machinery or equipment
and/or equipment which may be of noxious tremor or noise, or expose the premises to
fire or constitute or cause a fire hazard or change the insurance rate of the premises or
any other article which the LESSOR may reasonably prohibit. It is being understood that
should the LESSEE do so, not only shall the latter be responsible for all damages which
such violations may cause the LESSOR but the LESSOR shall, in addition thereto, have
the right to cancel this contract. If the LESSEE shall use the premises or deposit therein
any such matter as to result in any increase in the rate of the insurance payable by the
LESSOR, the increase shall be for the amount of the LESSEE.

10. TAXES AND INSURANCE

Real Estate Taxes, government assessment and fire insurance charges shall be for the
account of the LESSOR.

Either party to this Contract mat his option and expenses secure an appropriate additional
insurance policy over the respective insurable interests on the subject premises of this
lease. The Party who decides not to secure any insurance shall shoulder his own loss or
damage and the other party shall be free from any such liability.
11. THIRD PARTY LIABILITY

The LESEE during his occupancy of the LEASED PREMISES shall hold the LESSOR
free and harmless from any damage or responsibility to any person or property arising out
of or as a consequence of the use of the LEASED PREMISES by the LESSEE his agents,
employees and domestic help and guest. When such damage or liability is caused by
fortuitous events such as typhoon, earthquake, flood, etc. that are beyond the control of
the LESSEE, the latter shall not be liable to the LESSOR.

12. SALE, TRANSFER AND MORTGAGAE

In the event of sale, transfer, mortgage or any other encumbrances of the LEASED
PREMISES, or any existing sale, transfer, mortgage or encumbrance of the same, the
LESSOR shall warrant that the purchased, mortgage or encumbrances shall respect all the
terms and conditions of this Contract of Lease including the provisions for renewal
thereof.

14. INSPECTION OF THE LEASED PREMISES

The LESSOR or any of his duly authorized person shall by previous arrangement with
the LESSEE and have the right to enter and inspect the premises for every three
(3)months, at reasonable time of the day to examine the same and make alteration and
repairs, or for any purpose, which she may deem necessary for the operation and the
maintenance of the premises in any of its installation. On the last thirty (30) days of the
term of this lease, provided that no agreement for renewal or extension has been reached
by both parties, the LESSOR may show the LEASED PREMISES to prospective tenants
at reasonable hours at a date and time pre-arranged with the LESSEE.

15. FORCE MAJEURE-MAJOR REPAIRS

In case of damage to the LEASED PREMISES as may be occasioned by fire not

attributable to the LESSEE, earthquake, typhoon, or any other natural calamities, and war
or similar concerted acts of men, LESSEE shall give immediate notice thereof to the
LESSOR upon receipt of such notice, the LESSOR, shall therefore endeavor and see to it
that the LEASED PREMISES are restored in tenantable conditions at the earliest time.
Expenses for the repair and restoration as indicated above shall be for the account of the
LESSOR.

If, however, the LEASED PREMISES or any other portion thereof shall be so destroyed
to make it not suitable for occupancy, either party may demand for the rescission of this
Contract of Lease. In such case, the LESSOR shall immediately refund all the unapplied
portion of the advance rental to the LESSEE upon surrender of the LEASED PREMISES.
The refund of the security deposit shall no later than sixty (60) days from the date of the
premises as governed by provisions No. 3 of this Contract.

Nothing in these provisions shall exempt the LESSEE, from his liability to the LESSOR,
for damages caused to the LEASED PREMISES due to this fault or negligence or that of
his family, agents, household helps, employees or guests.

16. EMPLOYMENT CLAUSE

Should the LESSEE be required to leave the Philippines during the term of the Lease, for
reasons beyond his control, the LESSEE shall have the option of assigning the lease to
another office. subject to the terms and condition herein stipulated by notifying the
LESSOR in writing the name of his replacement. In case, there is no replacement
available and the

LESSEE shall be compelled to pre-terminate this Contract of Lease; all remaining unused
portions of the advanced rentals shall be forfeited by the LESSEE in favor of the
 LESSOR. The refund of the security deposit shall however be governed by Provision No.
3 under this Contract. For the pre-termination to become effective, the LESSEE shall
provide a written notice inferring his

intention to vacate the LEASED PREMISES.

17. RETURN OF THE PREMISES

Upon the termination of the term of this contract for any reason whatsoever, the LESSEE
shall immediately vacate the LEASED PREMISES and return possession thereof in as
good condition as reasonable wear and tear.

18. PRE-TERMINATION OF CONTRACT

1. The LESSOR may cancel or terminate this lease contract for reason of non-
compliance of any of the terms, conditions and rules and regulations, by mere notice
and in which event, LESSEE shall vacate the premises.
2. If the LESSEE decides, for any cause and without fault of the LESSOR, to terminate
this Contract prior to the termination of the period agreed upon, the LESSEE shall be
liable to the LESSOR to pay the rentals for the remaining period of the Contract. If
the premises leased shall have been occupied by another tenet then the LESSEE shall
be liable to pay only the period when the premises remained idle or unoccupied.

Two (2) mos. deposit will be forfeited and will apay 1 mo. rent equivalent as PENALTY

IN WITNESS WHEREOF, the parties hereto have signed this present on the date and at the
place above mentioned are written.

DAVE P. SAHIJWANI FRANKLIN NOLIDO

MARIA CONCESA NOLIDO
LESSOR LESSEE

SIGNED IN THE PRESENCE OF

______________________ ____________________

BEFORE ME, THIS DAY OF _________ IN THE CITY OF MANILA, PHILIPPINES,

PERSONALLY APPEARED.

Name
Dave P. Sahijwani Tin 101-962-462
Franklin Nolido
Maria Concesa Nolido

KNOWN to me to be the same persons who executed the foregoing instrument, and they
acknowledged to me that the same as their free act and deed.
 This instrument consisting of seven (7) pages, including the page on which this
acknowledgement is written has been signed on the left margin of each and every page thereof
by Dave P. Sahijwani and Franklin/Maria Concesa Nolido their witnesses and sealed with my
notarial seal.

WITNESS MY HAND AND SEAL this _____ of _____ 2023 at Malate, Metro Manila.

NOTARY PUBLIC

Doc. No. _______

Page No. _______
Book No._______
Series of 2023