CONTRACT OF LEASE

KNOW ALL MEN BY THESE PRESENT:

This Contract of Lease is entered into by LANIE MENDOZA DELA CRUZ, Filipino
citizen, of legal age, single, resident of JNC Martelino Street Andagaw, Aklan, hereinafter
referred to as the LESSOR; and TONGYUP NOH, of legal age, Korean citizen, and with
residence address at 153 Brgy. Pook, Kalibo, Aklan, hereinafter referred to as the LESSEE;
WITNESSETH THAT:
WHEREAS, the LESSOR is the absolute owner of a commercial building situated at JNC
Martelino Street, Andagao, Kalibo, Aklan;
WHEREAS, the LESSOR has offered to lease the ground floor area of the said building
and the LESSEE has accepted the offer;
NOW, THEREFORE, the LESSOR hereby leases unto the LESSEE and the latter accepts
the aforesaid leased premises, subject to the following terms and conditions:
LEASE PERIOD: The term of this lease shall be for a period of TWO (2) YEARS
commencing on the execution of this contract. But should there be no written notice of
termination of this contract by the LESSOR to the LESSEE or vice versa, the same shall be
deemed renewed for the same term and under the same conditions as herein agreed. Provided
further, that the LESSEE reserves the right to terminate this contract prior to its expiration upon a
thirty day notice to the LESSOR.
RENT: The LESSEE shall pay the LESSOR a monthly rental of FIVE THOUSAND
FIVE HUNDRED PESOS (P5,500.00), Philippine currency, payable within the first ten (10)
days of each month to be collected by the LESSOR at the subject property without need of
demand. The LESSEE shall likewise pay a one (1) month advance rental and a deposit
equivalent to the same. The said advanced and deposit shall be returned to the LESSEE at the
termination or expiration of the contract, and if liability to pay arises on the part of the LESSEE,
then after the necessary deductions thereto are made, unless otherwise agreed upon.
USE OF LEASED PREMISES: The LESSEE and/or his business associates or staff
shall use the leased premises mainly as place for jam production and such other purposes
necessary and/or incidental thereto. The LESSEE shall have the right to introduce improvements
and install equipment in the premises which are needed to the above-said purposes. The LESSEE
shall notify the LESSOR of any major improvements needed to be done in the area prior to the
introduction of such improvements. The LESSEE shall have the right to remove the
improvements he introduced, provided no damage is caused to the property by such removal, or
should the damage be inevitable, he undertakes to fix the damage.
Ordinary repairs and maintenance of the property shall be made by the LESSEE. But the
extraordinary repairs and those necessary due to the natural wear-and-tear shall be to the account
of the LESSOR;
UTILITY CHARGES: The electricity, water, and other utility charges arising from the
use of the utility during the leased period shall be to the exclusive account of the LESSEE;
SUB-LEASE: The LESSEE shall not sublease the leased premises or any part thereof to
any third party without prior consent of the LESSOR;

VISITATION AND INSPECTION: The LESSOR or her duly authorized representative

shall have the right to visit and or inspect the leased premises once a month at such time
convenient to the parties upon three (3) days prior notice to the LESSEE;
BREACH: Either party may terminate this Contract upon thirty (30) days prior written
notice should the other party commit any breach of the terms and conditions of this Contract and
fail to remedy the same within thirty (30) days from receipt of written demand by the aggrieved
party to remedy such breach;
RIGHT OF FIRST REFUSAL: If during the lease period, the LESSOR will sell its title
to or interest in the property including the portion under lease, the LESSOR shall first offer the
same to the LESSEE together with the price and terms thereof and the LESSEE may exercise its
right of first refusal by written notice to the LESSOR within thirty (30) days from the receipt of
the offer;
SALE OR TRANSFER: In the event of sale, transfer, assignment, conveyance,
mortgage or encumbrance of the aforementioned property where the leased premises is situated
to any third party during the effectivity of this contract, the LESSOR shall cause the buyer,
transferee, assignee, mortgagee or encumbrancer to respect the terms of this contract;
WARRANTY: The LESSOR hereby warrants the peaceful and continued possession and
enjoyment of the leased premises by the LESSEE and shall hold the LESSEE free and harmless
from claims, suits, proceedings, actions and other demands of third parties claiming title,
possession or interest in the leased premises;
AUTHORITY: Each of the parties hereto warrants that she has full power and authority
to enter into and perform her/his obligations under this contract and that all necessary actions,
consents, and approvals for the execution of this contract have been obtained.
IN WITNESS WHEREOF, we have hereunto set our hands this _______________ at
Kalibo, Aklan, Philippines.
LANIE MENDOZA DELA CRUZ
Lessor
VIN: 0407-0029B-C0780LDM20000

TONGYUP NOH
Lessee
Passport No. M91129215

Signed in the presence of

ADRINE P. MENDOZA
REPUBLIC OF THE PHILIPPINES)
PROVINCE OF AKLAN
) SS.
MUNICIPALITY OF KALIBO

______________________________

BEFORE ME, a Notary Public for and in the Province of Aklan, personally appeared the
parties who proved their identities through their Identification Cards with numbers appearing
below their respective names above, both known by me and known to be the same persons who
executed the foregoing instrument and acknowledged that the same is their free act and voluntary
deed.
WITNESS MY HAND AND SEAL on this ___________________ at Kalibo, Aklan.