LEASE CONTRACT

KNOW ALL MEN BY THESE PRESENTS:

This CONTRACT OF LEASE is made and executed at the City of Iligan,

this day of April 19, 2019, by and between:

JUAN DELA CRUZ, of legal age, married to PEPPER POTTS,

Filipino, and with residence and postal address at 769 Nicanor Reyes
Street, Iligan City hereinafter referred to as the LESSOR.

-AND-

ABC BANK, with residence and postal address at Unit 6, Doromal

Building, Andres Bonifacio Avenue, Barangay Tibanga, Iligan City
hereinafter referred to as the LESSEE.

WITNESSETH; That

WHEREAS, the LESSOR is the owner of THE LEASED PREMISES, a 250 sq. m. lot
situated at Andres Bonifacio Avenue, Barangay Tibanga, Iligan City;

WHEREAS, the LESSOR agrees to lease-out the property to the LESSEE and the
LESSEE is willing to lease the same;

NOW THEREFORE, for and in consideration of the foregoing premises, the LESSOR
leases unto the LESSEE and the LESSEE hereby accepts from the LESSOR the
LEASED premises, subject to the following:

TERMS AND CONDITIONS

1. That the term of lease is 5 YEARS and shall commence on April 19, 2019 and
shall end on April 19, 2024, renewable by mutual agreement under the same terms and
conditions for a period of 12 months or until April 19, 2025;

2. That the monthly consideration for the lease shall be ONE THOUSAND SIX
HUNDRED SIXTY SEVEN, PHILIPPINE CURRENCY (PhP 1,667.00), exclusive of VAT,
and with ESCALATION rate of TWO (2%) PER CENT every year;

3. That, upon signing of this contract, the LESSEE shall pay the LESSOR the
amount of THIRTY THOUSAND PESOS, PHILIPPINE CURRENCY (PhP30,OOO.OO) as
ADVANCE PAYMENT of the herein RENTAL at the time the parties sign on this contract
which shall be deducted from the rental payment of the last twelve (12) months of this
Lease Agreement; THEREAFTER, payment of the monthly rental will start upon
occupancy of the property;

4. That the LESSEE shall deposit all payments pertaining to monthly rentals to
LESSOR’s account at Philippine National Bank, Iligan Branch on the 30th day of every
month;

5. That the LESSOR guarantees a period of THIRTY (30) DAYS as GRACE PERIOD
in favor of the LESSEE in case of LATE PAYMENT OF MONTHLY RENTALS otherwise
arrears shall earn an interest of 10% after GRACE PERIOD;

6. That the LESSOR shall have the right to terminate this contract should the
LESSEE fail to pay rentals for more than ONE (1) YEAR; and in case of any violation by
the LESSEE of any provision of this contract;

7. That the LESSEE shall build on the leased premises a commercial structure that
he shall lease to third parties; This is a sublease and the Lessor's interest in the
premises is as Lessee under a lease made by dated (December 3, 2010), a copy of which
is attached hereto and made a part hereof as Exhibit "A". Except as provided to the
contrary herein, this sublease is expressly made subject to all the terms and conditions
of said underlying lease and the Lessee agrees to use the premises in accordance with
the terms of said underlying lease and not do or omit to do anything which will breach
any of the terms thereof. If said underlying lease is terminated, this sublease shall
terminate simultaneously and any unearned rent paid in advance shall be refunded to
the Lessee, provided that such termination is not the result of a breach by Lessee of the
within sublease. The Lessee hereby agrees to assume the obligation for performance of
all the Lessor's obligations under the aforesaid lease;

8. That the LESSEE shall use the premises exclusively for commercial purposes
only; BUT LESSEE may divert the use of the premises or any portion thereof with the
express/written consent of the LESSOR or her representative;

9. That the LESSOR shall shoulder the payment of the Documentary Stamp Tax
that may be charged of this contract; and the Real Estate Tax on the leased premises
throughout the duration of this contract, inclusive of any Withholding Tax on the
same;

10. That the LESSEE shall shoulder the payment of the VAT which are incidental to
his deriving income from his business operations inclusive of Real Estate Tax on his
improvements;

11. That any/all immovable improvements by the LESSEE in the subject premises
shall be owned by the LESSOR without any obligation on her part or her representative
to reimburse the LESSEE; PROVIDED, that the LESSOR shall reimburse the LESSEE
for all improvements on the subject premises should the contract be terminated without
the fault of the LESSEE; and

12. That the LESSOR shall specify and put markers referring to the expansion for
the lessee’s information as to the extent of his lease right on the premises subject of this
contract.

IN WITNESS WHEREOF, parties herein affixed their signatures on the date and place
above written.

JUAN DELA CRUZ ABC BANK

LESSOR LESSEE

Signed in the presence of:

_____________________________ ______________________________
 ACKNOWLEDGEMENT

Republic of the Philippines)

City of Iligan ) SS.

BEFORE ME, personally appeared:

Name CTC Number Date/Place Issued

ROBERT DOWNEY, JR. 12345678 January 24, 2019 / Iligan City

STEVE ROGERS 76543975 January 07, 2019 / Marawi City

Known to me and to me known to be the same persons who

executed the foregoing instrument and acknowledged to me that the
same is their free and voluntary act and deed.

This instrument consisting of 4 pages, including the page on which

this acknowledgement is written, has been signed on each and every
page thereof by the concerned parties and their witnesses, and sealed
with my notarial seal.

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

ATTY. NURUL IZZAH B. HAMED

Notary Public

Doc. No. 15;

Page No. 9;
Book No. 7;
Series of 2019.