CONTRACT OF LEASE KNOW ALL MEN BY THESE PRESENTS: This CONTRACT OF LEASE is entered into this ________ by and

between: GLITTLE RESOURCES, INC., a corporation organized and existing under the laws of the Philippines with address at 438, C-3 Road, Kaunlaran Village, Caloocan City, represented by its President, AILEEN QUEROL and hereinafter referred to as the LESSOR; - and _______________________, Filipino, or legal age, presently residing at ______________________________________ _____________________________________, herein represented by ___________________ and hereinafter referred to as the LESSEE. WITNESSETH: WHEREAS, the LESSOR is the owner of the premises situated at No. _________________________________________________; WHEREAS, the LESSEE desires to lease _________________ (Leased Premises) and the LESSOR has agreed to lease the same unto the LESSEE under the terms and conditions hereinafter set forth; NOW, THEREFORE, for and in consideration of the foregoing premises and the terms and conditions hereinafter set forth, the LESSOR, hereby leases unto the LESSEE, and the LESSEE hereby accepts from the LESSOR, The Leased Premises defined under the following terms and conditions: 1. LEASED PREMISES - The LESSOR hereby leases and demises unto the LESSEE, and the latter hereby accepts in lease STALL #. TERM - The term of this Contract shall be for a period of SIX (6) months (hereinafter referred to as the Leased Period) commencing on ________________ and expiring on ________________, unless sooner terminated by the LESSOR upon two (2) months prior written notice to the LESSEE.

2.

3.

RENEWAL OF LEASE - Upon the expiration of original Lease Period of SIX (6) months as above mentioned. The terms may be extended at the LESSORS sole option by written authority secured prior to the expiration of the original period above stated and upon such terms and conditions as stated and mutually agreed by the parties. RENTAL AND OTHER FEES - For and in consideration of the use of the Leased Premises, the LESSEE shall pay a monthly rental of:
YEAR Increas e Monthly Rental 3,500.00 Less 5% W/holding 175.00 Add 12% Vat 420.00 Maintenanc e Total 3,745.00

4.

LESSEE shall be required to pay four (4) months security deposit, three (3) months advance rental and Twelve Thousand Pesos (P12,000.00) roll-up deposit upon execution hereof. The three (3) months advance rental shall be applied on the first three months of the lease. Furthermore, the monthly rental shall be covered by postdated checks (3 checks) net of withholding tax plus Value Added Tax, which shall be for the account of the LESSEE. Monthly charges for electric Power, Telephone bill and water bill shall be for the account of the LESSEE. 5. HOLD OVER - If for any reason whatsoever, the LESSEE shall hold over the Leased Premises beyond the Lease Period herein created, such hold-over shall be construed as tenancy from month to month and upon the same terms and conditions as herein contained; provided, however, that if the LESSEE shall hold over the Leased Premises beyond the Lease Period without the consent or approval and/or against the wishes of the LESSOR, the LESSEE shall be liable for and shall pay LESSOR by way of liquidated damages an amount equivalent to three (3) times the monthly rentals stipulated herein; provided, however, that the payment by LESSEE of such liquidated damages shall not be construed to extend or renew this Contract; furthermore, this is without prejudice to the right of the LESSOR to file ejectment suit to compel recovery of the

premises and recover whatever damages it may suffer because of the unlawful detainer. 6. PENALTY INTEREST - In case of default in payment of rentals, when the same become due and payable inspite of ten (10) day written notice, the amount owing shall bear interest at the rate of three (3%) percent per month, to be computed on a daily basis from the date of default until fully paid, without prejudice to the right of the LESSOR to terminate this contract. Any other amount required to be paid by the LESSEE to the LESSOR hereunder shall, if unpaid on the due date, similarly earn interest at the rate of three percent (3%) per month starting from the date of default. Any amount advanced by the LESSOR for and in behalf of the LESSEE with the LESSEEs consent, or without such consent if the advance was made by the LESSOR to protect its own interest, it shall become due and demandable within five (5) days from the date the LESSEE is notified in writing by the LESSOR, and shall also earn interest at the rate of three percent (3%) per month from such date until said amount is fully paid and settled. USE AND CARE OF THE LEASED PREMISES (a) The LESSEE hereby expressly acknowledges that the Leased Premises are in good and tenantable condition and agrees to keep the same in clean, presentable and sanitary condition in order to maintain the high quality standard of the premises. (b) During the Leased Period, the LESSEE shall have possession of and have the right to use the Leased Premises in accordance with the terms and conditions set forth herein and in strict conformity with all laws, ordinances, and regulations, prescribed by governmental authorities, and such reasonable rules and regulations as may be prescribed by the LESSOR. (c) The Leased Premises shall be used by the LESSEE exclusively for office/business purposes. Residential use shall not be allowed. (d) The LESSEE shall not use or allow the use of Lease Premises for illegal or immoral purposes, or any purposes prohibited by the LESSOR.

7.

(e) The LESSEE shall take good care of the leased premises, water tank, and pressure pump, and be solely responsible for any loss/damage thereon. (f) The LESSEE shall see to it that the Leased Premises are free from annoying sounds, disturbing noises, obnoxious odors and other nuisances, and that the Leased Premises are used in a manner that will not disturb the peace and tranquillity in the community. (g) Should the LESSEE fail to maintain the Leased Premises as required hereunder, then within a reasonable time after required notice thereof, the LESSOR may enter the Leased Premises in order to restore its condition and/or appearance, and thereafter charge against the LESSEES deposits, all cost and expenses incurred by the LESSOR in connection with such restoration. (h) The corridor and hallway shall be free from any obstruction of any whatever nature. (i) The signboard to be installed must bear the prior written approval of the LESSOR so as to maintain uniformity thereon. (j) Flammable/combustible materials of whatever nature shall not be permitted in the lease premises. Cooking and or the use of electrical and gas stove inside premises is absolutely prohibited. 8. ALTERATIONS AND IMPROVEMENTS (a) The LESSEE shall not introduce any improvements or make any alterations or additions on the Leased Premises without the prior written consent of the LESSOR, which consent shall not be unreasonably withheld. However, the prior consent of the LESSOR for any and all the improvements whether structural, architectural, mechanical or electrical shall not relieve the LESSEE from full compliance with all Building or Fire Codes and Regulations. All expenses for any permit and government inspection fee shall be at the LESSEEs expenses. The LESSOR shall have the right to inspect the work during and after completion thereof to assure itself of such compliance. (b) In the event that any law, ordinance, rule or regulation shall require that an alteration, addition or other change or

improvement be made to the Leased Premises as a result of the LESSEE hereby agrees to make, at its own expenses, such alteration, addition, change or improvement with the prior written approval or consent of the LESSOR. (c) All fixed improvements and additions in the Leased Premises, introduced or made by the LESSEE, save property removable without damage to the Leased Premises and movable properties such as machineries, tools and equipment, shall become the LESSORs property upon the expiration of the Lease Period or any extension or renewal thereof, or the termination of this contract, without any obligation on the part of the LESSOR to reimburse the LESSEE for the value thereof. However, the LESSOR may, at its option, elect to remove such alterations and improvements at the expense of the LESSEE. 9. REPAIRS AND OTHER MAINTENANCE WORKS - All repairs on the Leased Premises shall be undertaken by and for the account of the LESSEE after securing the prior written consent of the LESSOR. INSPECTION AND VISITATION - The LESSOR or its authorized representatives or agents shall have the right to enter, and the LESSEE agrees to cooperate with the LESSOR or its authorized representatives or agents and allow them to enter the Leased Premises, at any reasonable time of the day or night, in order to inspect the same, undertake maintenance, repairs and such other works or services necessary for the preservation, conservation or improvement of the Leased Premises. Prior notice, where practicable, shall be given to the LESSEE. LIABILITY AND INDEMNIFICATION - The LESSOR assumes no liability for injury to, or death of persons, damage to property, including the LESSEEs employees or agents occasioned by the disrepair, defect or condition in, upon or about the Leased Premises, or any other premises adjacent thereto. ABANDONMENT OF THE LEASED PREMISES - In the event that the LESSEE abandons the Leased Premises prior to the expiration of the Lease Period or any other extension or renewal thereof, the LESSOR shall consider this Contract terminated and may lease the Leased Premises to other lessees. In this connection, the LESSEE hereby authorizes the LESSOR to enter the Leased Premises in whatever manner feasible and convenient, including forcible entry, to take possession thereof

10.

11.

12.

and to clear the same of any or all of the properties, furniture and fixtures of the LESSEE. The LESSOR may take the LESSEEs properties found in the Leased Premises in any warehouse or secured place and sell such properties at a public or private sale to compensate any outstanding liabilities of the LESSEE to the LESSOR, however such remedial measures shall not prejudice the LESSORS right to collect any unpaid remaining rentals. The LESSEE shall, in addition, be responsible for the rentals and charges on the Leased Premises until a new tenant comes in and/or the lease expires, whichever comes first. 13. RETURN OF THE LEASED PREMISES - Upon the expiration of the Lease Period or any extension or renewal thereof, or upon the termination of this contract as herein provided, the LESSEE shall immediately and peacefully return to the LESSOR, the possession of the Leased Premises in as good, clear, sanitary and tenantable condition as when the LESSEE receive if from the LESSOR, subject to the provisions of this lease, save reasonable and ordinary wear and tear. If the Leased Premises are not surrendered at the expiration of the Lease Period or any extension or renewal thereof, or upon the termination of this Contract, the LESSEE shall be responsible to the LESSOR for any damages which the LESSOR may suffer by reason thereof, and indemnify the LESSOR against any and all claims made by the succeeding tenant against the LESSOR in delivering possession of the Leased Premises to such succeeding tenant, in so far as such delay is occasioned by the failure of LESSEE to surrender the Leased Premises on time. EVENTS OF DEFAULT/BREACH - The Lessee shall be deemed in default/breach within the meaning of this contract in any of the following instances: (a) The LESSEE fails to fully pay on time the monthly rentals, after ten (10) days from the date of receipt of invoice without prejudice to the penalty provided hereunder: The LESSEE violates any of the terms and conditions stipulated herein and such violation remains not remedied within thirty (30) days after due written notice; The LESSEE abandons or is deemed to have abandoned the Leased Premises and the LESSEE fails to respond within fifteen (15) days from LESSORs written notice; Non-payment of utility bills within 15 days from due date;

14.

(b)

(c)

(d)

(e)

Dishonored checks of the LESSEE paid to the LESSOR either by reason of account closed, stopped payment or drawn against insufficient fund; Removal of LESSEEs properties from the leased premises without the written consent of the LESSOR; LESSEE ceases to operate business for a period of one week without valid cause or written consent of the LESSOR.

(f) (g) 15.

CONSEQUENCES OF DEFAULT/BREACH - Upon the occurrence of any of the event of default as set forth herein, the LESSOR shall, in addition to any other remedies as may be prescribed by law, have the following rights, without incurring any civil or criminal liability as a consequence of the exercise of such rights; (a) (b) To terminate this Contract of Lease without the need of any prior notice, demand or judicial declaration; To immediately repossess the Leased Premises without the necessity of instituting any court or judicial action. In this connection, the LESSEE hereby grants unto the LESSOR full power and authority to take possession of the Leased Premises and to do or perform such acts necessary to take possession, including forcible entry, barring the LESSEE or any of its employees or representatives from entering the Leased Premises, padlocking the Leased Premises, and such other steps designed to enable the LESSOR to effectively and immediately repossess the Leased Premises. To demand and receive from the LESSEE payment for any and all unpaid rentals, fixed fees and other financial obligations stipulated in, or arising out, of this Contract; To demand and receive from the LESSEE payment for the rentals and fixed fees set forth herein corresponding to the unexpired portion of the Lease Period or any extension or renewal thereof; To take possession of, and sell at public or private sale, any and all properties of the LESSEE found on the Leased Premises and to apply the proceeds thereof in payment of any unpaid accounts of the LESSEE.

(c)

(d)

(e)

(f)

To automatically forfeit in its favor, the four (4) months security deposit and the Twelve Thousand Pesos (P12,000.00) roll-up deposit herein.

16.

17.

ASSIGNMENT AND SUB-LEASE - It is expressly understood and agreed by the parties that the personal character of the LESSEE and nature of occupancy of the Leased Premises are special considerations for the LESSORs granting of this lease to the LESSEE. Accordingly, the LESSEE shall not directly or indirectly assign, sublease, transfer, convey, mortgage, or in any other manner encumber its right of lease over the Leased Premises or any other portion thereof to any third party without the prior express written consent of the LESSOR. Furthermore, the LESSEE shall not enter directly or indirectly into any contract or agreement with any third person, association, corporation, partnership or joint venture agreement whatsoever, whereby said third party shall be allowed to occupy and transact business within the Leased Premises under any guise whatsoever without the prior written consent of the LESSOR. A consent by the LESSOR to the LESSEEs assignment, sublease, transfer, conveyance, mortgage or encumbrance of the Leased Premises, or to the occupancy thereof by a third party shall not be construed as a consent by the LESSOR to any subsequent assignment, sublease, transfer, conveyance, mortgage or encumbrance of the Leased Premises to or to occupancy thereof by another person. In case of any violation, direct or indirect, of this provision, the LESSOR may, without need of judicial action, automatically terminate or cancel this contract from the time such violation. EXPROPRIATION AND SEIZURE - In the event that expropriation or seizure or other similar proceeding are instituted during the Lease Period or any extension or renewal thereof by the Government or any other entity with lawful authority to exercise such power, either party may rescind this Contract upon giving the other party thirty (30) days notice in writing. In case of such expropriation, seizure or such similar proceedings, the LESSEE hereby unconditionally relieves and release the LESSOR from any and all liability under this Contract in connection with or arising out of such expropriation, seizure or similar proceedings, without prejudice to whatever recourse the LESSEE may have against the expropriation or seizing agency or entity on account of damage caused to it or its properties by reason of such expropriation or seizure or other similar proceedings. FORCE MAJEURE - In case of damage to the Leased Premises or its appurtenances by fire, earthquake, floods, typhoons, riots,

18.

war or any other unforeseen cause or Acts of God, the LESSEE shall give immediate notice thereof to the LESSOR. If the Leased Premises shall be partially damaged without the fault or negligence of the LESSEE or its agents, employees or visitors, the damage shall be repaired as quickly as possible at the expense of the LESSOR. However, if the Leased Premises be so damaged as to make it untenantable, provided there is no contributory fault or negligence by the LESSEE, either party may demand the recession of this Lease. No compensation or claim shall be allowed against the LESSOR by reason of inconvenience, annoyance or injury to LESSEEs business arising out of necessity to repair any portion of the Apartment. Disturbance or discontinuance of the possession of the Leased Premises by the LESSEE by cause beyond the control of the LESSOR shall not confer any right of any kind to the LESSEE if this Contract is terminated under this force majeure provision. 19. CUMULATIVE REMEDIES - All rights or remedies conferred upon or reserved to the LESSOR under this Contract shall be deemed cumulative and not alternative or exclusive of any other right or remedy given hereunder or now hereinafter existing at law or equity, and such rights or remedies may be enforced concurrently from time to time. LITIGATION - In the event the LESSOR is compelled to seek judicial relief against the LESSEE in order to enforce any addition to any other damages that may awarded by the Court, hereby agrees to pay an amount equivalent to twenty five percent (25%) of the amount paid by the LESSOR but in no case less than P 25,000.00, as and by way of attorneys fees, aside from the cost of litigation, and other expenses which the law entitles the LESSOR to recover from the LESSEE. The LESSEE hereby agrees to submit any action arising from or incident to this Contract to the jurisdiction of the courts of Caloocan City. NON-WAIVER - Failure or delay of the LESSOR to enforce or demand the strict performance by the LESSEE of any stipulation or condition of this Contract and to enforce any right or portion granted to the LESSOR under other related agreements or instruments, shall not affect the validity thereof, nor shall such be construed as abandonment, withdrawal, waiver or cancellation of such stipulation or condition, or right or option, or of the right of the LESSOR to subsequently enforce of demand performance of such provisions. No waiver by the LESSOR shall be deemed to have been made unless expressed in writing and signed by the LESSOR.

20.

21.

22.

RELATIONSHIP - It is understood that the only relationship between the LESSOR and the LESSEE hereunder or otherwise, is that of landlord and tenant. No other relationship of nay kind between parties is created or intended to be created hereby, or otherwise exists. NOTICES - Any notice or correspondence to be given hereunder or in connection with this contract to the LESSEE shall be personally delivered or mailed to the Leased Premises. Written notice to the LESSOR shall be sent to his above-mentioned address. GOVERNING LAW - The provision of this Contract shall be governed, interpreted and construed in all aspects by and under the Laws of the Republic of the Philippines. ENTIRE AGREEMENT - This Contract constitutes the complete and exclusive statement of the terms and conditions of the Contract of Lease between the parties with respect to the subject matter referred to herein. No statement or agreement, oral or written, made prior to the execution hereof, and no prior conduct or practice or either party shall vary or modify the written terms and conditions set forth in this Contract. No alterations, additions, or variations, of the terms and conditions of this Contract shall be valid unless made in writing and signed by both parties hereunto. CAPTIONS - The captions appearing in this Contract are inserted only as matter of convenience and for reference and in now way define, limit or describe the scope and intent of this contract or nay provisions hereof. SEPARABILITY CLAUSE - If any paragraph, sub-paragraph or part of this Contract is declared contrary to law or public policy, or is otherwise declared contrary to law or public policy, or is otherwise declared invalid, such shall not affect the other paragraphs, sub-paragraph or parts of this Contract.

23.

24.

25.

26.

27.

IN WITNESS WHEREOF, the parties have hereunto set our hands this _____________________ at Caloocan City, Philippines.

GLITTLE RESOURCES, INC. ______________________________ Lessor

Lessee

By :

By: ACKNOWLEDGEMENT

Republic of the Philippines Caloocan City

} } ss

BEFORE ME a Notary Public for and in Caloocan City personally appeared: CTC No. Issued at/on GLittle Resources, Inc. By ____________________ ____________________ _________________

_______________________ ____________________ _________________ known to me and to me known to be the same person who executed the foregoing Contract of Lease consisting of ten (10) pages and acknowledged to that the same is their voluntary act and deed. WITNESS MY HAND AND SEAL on the date and place first above mentioned. NOTARY PUBLIC
Doc No _____ Page No _____ Book No _____ Series of 2010