CONTRACT OF LEASE

KNOW ALL MEN BY THESE PRESENTS:

This Contract of Lease duly executed in Makati City this 28th day of May 2015 by and
between:
Mivez Anne Mallari, of legal age, Filipino, single, and a resident of No. 3, Paseo de
Roxas Avenue, Makati City, Philippines, (hereinafter referred to as the "LESSOR");
- and -

Spouses Toby Escobar and Marianne Guarin Escobar, of legal age, Filipinos, and
residents of No. 7 Maceda Street, Makati City, Philippines, (hereinafter collectively
referred to as the "LESSEE");

WITNESSETH: that -

WHEREAS, the LESSOR is the legal registered owner of Unit 2222 with Parking Unit
No. C-2222 located at the 44th Floor, Ayala Triangle, Tower I, Ayala Avenue, Makati City,
covered by Condominium Certificate of Title No. 8556 issued by the Register of Deeds
of Makati City (hereinafter referred to as the PROPERTY), more particularly described
as follows:

Condominium Certificate of Title No. 85556

Register of Deeds for Makati City
Unit 2222 with Parking Unit No. 2222, located on the fourteenth floor of the
AYALA TRIANGLE TOWER I, with a Net floor area of 100.00, common area of 27.60
and a total area of 127.60

WHEREAS, the LESSEE desires to occupy the above-named condominium unit and
the LESSOR is willing to lease the same unto the LESSEE, subject to the terms and
conditions herein below set forth.

NOW, THEREFORE, for and in consideration of the foregoing premises and the
covenants hereinafter stipulated, the parties hereby agree as follows:

1. Term: This lease shall be for a duration of two (2) years commencing from June 1,
2015 and to end on May 31, 2017, renewable only at the option of the LESSOR. Any
renewal of the lease shall be subject to a 10% increase in rental rate.

2. Rental: The LESSEE agrees to pay the LESSOR the monthly rental fee of ONE
HUNDRED THOUSAND PESOS (Php 100,000.00), Philippine currency. Upon
signing of this Contract of Lease, the LESSEE shall pay the LESSOR six (6) months'
rentals in advance to be applied on the last six (6) months of the term of this LEASE.

3. Deposit: The LESSEE shall also pay the LESSOR the sum of three (3) months
deposit of THREE HUNDRED THOUSAND PESOS (PhP 300,000.00), Philippine
Currency, to guarantee the payment of any damage to the leased premises, unpaid
utilities and other obligations to third parties by the LESSEE during the term of the
agreement, which deposit shall bear no interest. Unless applied to said damages,
unpaid utilities and other obligations to third parties, said deposit shall be returned to the
LESSEE within thirty (30) days after the termination of this agreement: Provided,
however, that the deposit cannot be applied to unpaid back rentals owed by the
LESSEE prior to the expiration of this agreement. Furthermore, if the LESSEE vacates
the premises before the expiration of the period of lease, the total amount of the deposit
and advance rentals shall be forfeited in favor of the LESSOR.

4. Use of the Premises: The premises shall be used exclusively as the Law Firm of
the LESSEE named Escobar & Guarin-Escobar Law Office and shall not in any way

be used for any illegal or unlawful activity or to keep materials, chemicals and other
matters considered as fire hazards or nuisance to the building.

5. Improvements: The LESSEE shall not make any alteration, structural changes or
improvement in the leased premises without the prior written consent of the LESSOR.
However, at the termination of the lease, the same not having been renewed by the
parties, the LESSEE shall restore the leased premises in its original state existing at the
commencement of the agreement. Restoration of the LEASED PREMISES shall be for
the exclusive account ofthe LESSEE. Any improvement after the lease is terminated
and after the LESSEE shall have vacated the premises shall belong to the LESSOR.

6. Facilities: All charges for water, electricity, telephone, and other public utilities used
in the leased premises as well as janitorial and security services or any other charges
as may be imposed by the building administrator of the condominium building shall be
for the account of the LESSEE. The LESSEE hereby guarantees the prompt
payment of any and all charges heretofore mentioned as they fall due. Any delay in the
payment thereof shall constitute a material breach of this agreement.

7. Insurance: The LESSOR shall insure the leased premises against fire. Should
the leased premises be damaged by fire, earthquake, storm or any fortuitous events to
the extent that the same be rendered untenable this agreement shall be automatically
canceled and the deposit as well as the unused portion of the advance rentals be
refunded within sixty (60) days, minus any unpaid obligation.

8. Repairs: The LESSEE shall, during the duration of the lease, make all minor repairs
on the leased premises to preserve the same in serviceable or tenantable conditions at
the LESSEE's expense except replacement of parts due to natural wear and tear. The
LESSEE, however, shall give advance written notice to the LESSOR of Ten (10) days
prior to undertaking any minor repair. All damages caused to the leased premises due to
the fault, misuse, carelessness, and/or negligence or on account of the use thereof by
the LESSEE and other occupants therein shall be made good and repaired by the
repairs done. Should the LESSEE fails to make the necessary and appropriate repairs

within five (5) days from demand, the LESSOR shall undertake the needed repairs and
shall charge the costs thereof to the LESSEE.

9. Inspection of the Premises: To ensure that the lease premises is being maintained
in good and tenantable conditions, the LESSOR or his authorized representative is
hereby given the right after due notice, to enter and inspect any part of the leased
premises during reasonable hours and as the occasion thereof might require.

10. Assignment and Sub-Lease: The LESSEE hereby shall have no right to assign or
transfer its rights, interest and obligations under the lease contract or sublease contract premises or any portion thereof to any person or entity without the prior
written consent of the LESSOR.

11. Injury or Damage: The LESSEE hereby assumes the full responsibility for any
damage which may be caused to the person or property of any third person in
the leased premises during the duration of the lease. LESSEE further binds himself to
hold the LESSOR free and harmless from damages as a result thereof, unless such
damage or liability arose out of structural or other inherent defects in the leased
premises or is due to the fault of the LESSOR, his agent or representatives.

12. Sale of Leased Premises: The LESSEE recognizes the right of the LESSOR to
sell or otherwise convey ownership of the leased premises to any other interested party,
provided the LESSEE's rights under the lease are respected.

13. Hazardous and Prohibited Materials: The LESSEE shall not keep or store in
the lease premise any hazardous and obnoxious substance or inflammable material or
substance that might constitute a fire hazard or other chemicals and materials or
prohibitive drugs in violations of the laws of the Philippines.

14. Rules and Regulations: The LESSEE binds himself to comply with the existing
rules and regulations promulgated by the building administrator and/or association and
any other environmental or other laws, ordinances, rules and regulations applicable to
the leased premises.

15. Violations: The LESSOR may, at this options, consider this agreement
automatically rescinded and canceled, without need of any court action, upon ten (10)
days notice given to the LESSEE based on any of the following grounds:

a.Failure of the LESSEE to pay two (2) months advance rental and other bills or
charges therefore mentioned as they fall due for any reason whatsoever within the
period to pay.
b.For any violation made by the LESSEE or its agents and representatives of any of the
terms and conditions stipulated in this contract.
c.In case the leased premises shall be vacated or abandoned for a period of thirty (30)
days without prior written notice to the LESSOR. Consequently, the LESSOR is hereby
permitted authorized by the LESSEE to enter the premises, either by force or otherwise,
without being liable to prosecution therefor.

Upon termination of the contact of lease based on any of the foregoing grounds and
upon demand, the LESSEE shall immediately vacate and peacefully surrender
possession of the lease premises to the LESSOR or his duly authorize representative.

16. Remedies: In addition to the provisions of the preceeding paragraph, the LESSEE
hereby acknowledges and recognizes the right of the LESSOR to avail or resort to any
or all of the following remedial measures without need of court action:
a.In case of failure of the LESSEE to pay or settle any due and unpaid obligations
(rentals, electricity, water, telephone, association dues etc.) as provided for under
this lease contract , the LESSEE hereby authorizes the LESSOR, who is hereby given
the right, to disconnect all facilities such as but not limited to disconnect all facilities

such as but not limited to electricity, telephone, water in the leased premises without
need of further notice to the LESSEE.

b.Likewise, until the aforesaid unpaid obligations are paid or settled, the LESSEE
hereby given the rights, to re-renter the lease premises, remove all persons therefrom,
take possession of any of all furniture, fixtures and equipment's found thereon or therein
and/or padlocked the door of the premises.

c.Moreover, by way of a security or to secure the payment of any of the unpaid

obligations of the LESSEE , the LESSEE consents and authorizes the LESSOR to
retain possession of any of all the furniture, fixtures and equipment's that may found on
the premises as belongings to the LESSEE until such time that all the unpaid
obligations of the LESSEE are paid or settled.

d.If after ten (10) days from the date the LESSOR shall have taken possession of the
aforesaid furniture, fixtures and equipment by way of security, the LESSEE still fails to
pay or settle its unpaid obligations to the LESSOR the LESSEE hereby consents and
authorizes the LESSOR to sell by way of public or private sale any or all the furniture's
fixtures equipment as may be sufficient to pay or settle the lessee's unpaid obligations
plus the accrued interests and attorney's fee equivalent to 25% of the total amount due
and unpaid. All expenses that may be incurred in the sale shall be for the account of the
LESSEE.

For purposes of selling the aforesaid properties, the LESSEE hereby irrevocably
appoint the LESSOR as its attorney-in-fact to sell and dispose of any or all of the
aforesaid the property of the LESSEE in a private or public sale at a price as may be
determined to be just and reasonable by the LESSOR and to apply the proceeds
therefrom to any or all the unpaid obligations of the LESSEE.

If the sale proceeds should prove to be inadequate to fully payer settle the unpaid
obligations of the LESSEE, the LESSEE shall remain liable to the LESSOR for
any of the deficiency.

Should the proceeds of the sale of any of the aforesaid properties be sufficient to pay or
settle all of the lessee's unpaid obligations, the LESSEE may get back its other
properties not sold by the LESSOR. If after thirty(30) days from written notice of the
LESSOR directed to the last known address of the LESSEE, the LESSEE still fails to
get back the remaining properties, said properties shall then be deemed abandoned in
favor of the LESSOR.

The above enumerated remedies proved for the LESSOR shall not be exclusive, but
shall be cumulative and without prejudice to any court action that may be instituted by
the LESSOR for any causes of action that may arise under this contract of lease.

17. Venue: All court actions from this contact of lease shall be filed only in the proper
courts of Makati City, Philippines to exclusion of all other courts.

18. Time of Essence: Time is the essence hereof any waiver by the LESSOR of a
breach of any term, covenant or condition herein contained, whether express or implied,
shall not constitute of a waiver of any subsequent breach thereof, or a
breach of covenant to pay the rent so accepted. No waiver by the LESSOR shall be
deemed to have been made unless expressed in writing and signed by the LESSOR.

IN WITNESS WHEREOF, the parties hereto have signed this Agreement as of the day
and year first written above.

Mivez Anne Mallari

LESSOR

Spouses TOBY & MARIANNE ESCOBAR_

LESSEE

SIGNED IN THE PRESENCE OF:

___JOSE P. BONIFACIO__

_ _ _ANDRES RIZAL____

ACKNOWLEDGEMENT

REPUBLIC OF THE PHILIPPINES)

Makati City
) S.S.
BEFORE ME, a Notary Public for and in Makati City, personally appeared:

Name

CTC/
Passport No.

JOSE P. BONIFACIO

Passport No. NS12345

ANDRES RIZAL

Passport No. NS67890

Date and
Place of Issue
February 14, 2014
Pasay City
July 3, 2014
Pasay City

known to me and by me known to be the same persons who executed the

foregoing Loan Agreement and who further acknowledged to me that the same is

their free and voluntary act and deed and that of the corporations they represent,
and that they are duly authorized to sign the same.
IN WITNESS WHEREOF, I have hereunto set my hand and affixed my notarial
seal in Makati City this 28th day of May 2015.

Doc. No. ____;

Page No. ____;
Book No. ____;
Series of 2015.