CONTRACT OF LEASE

KNOW ALL MEN BY THESE PRESENTS:

This Contract of Lease is entered into by and between:

ROSITA SUAREZ AND JOHN SUAREZ, of legal aged, Filipino citizens and residents of Zone 4,
Brgy. Maliwalo, Tarlac City and hereinafter collectively referred to as the LESSOR.

-and-

GILBERT PANINGBATAN AND MARICRIS PANINGBATAN, of legal age, Filipino citizen and a
residents of Zone 5 Dalan Matwa, Brgy. Maliwalo, Tarlac City and hereinafter referred to as the LESSEE.

-WITNESSETH-

WHEREAS, the LESSOR is the owner of a parcel of land located at Zone 1, Brgy. Maliwalo, Tarlac
City;

WHEREAS, the LESSOR agrees to lease-out the above-mentioned 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, to wit:

1. TERM – This Contract shall be for a period of (3) years commencing on 16 March 2018 and
expiring on 15 March 2021, unless sooner terminated by agreement of the parties or for a
valid cause by either party. The termination for a valid cause shall be made by serving a written
notice to the other party at least thirty (30) days prior to the intended date of termination.

2. RENTAL – As consideration for the use of the LEASED PREMISES under this Contract, the
LESSEE hereby undertakes to pay the amount of TEN THOUSAND PESOS (Php10,000.00) per
month for the first (1st) year of the contract; ELEVEN THOUSAND PESOS (Php11,000.0) per
month for the second (2nd) year of the contract; TWELVE THOUSAND PESOS (Php12,000.0) per
month for the (3th) year of the contract. The payment of the rental herein stipulated shall be
made without the necessity of expressed demand and without delay without on any ground
whatsoever;

3. USE OF THE LEASED PREMISES – The LESSEE shall use the LEASED PREMISES exclusively for
CARWASH BUSINESS ONLY. The LESSEE shall be responsible for all the acts and omissions of
its employees and visitors and be liable to any damage caused to the LEASED PREMISES by the
said persons. The LESSOR shall not be liable for any damage or loss to the property of the
LESSEE or for any death or injury to any person within the LEASED PREMISES during the terms
of the lease;
4. GUARANTEE DEPOSIT – In addition to and exclusive of the above-stated rental, the LESSEE
shall, upon the execution of this Contract, deposit to the LESSOR the amount of THIRTY
THOUSAND PESOS (Php30,000.00) which shall be applied to the following: a) delinquent
payment of rentals, electric bills, water bills and other utilities; b) payment for any damage
caused to the LEASED PREMISES; and c) cost of restoration of the LEASED PREMISES after the
termination of the lease. Whatever remains on the said deposit shall be refundable to the
LESSEE after the termination of the lease. In the event that for any reason a breach of contract
will take place the said guarantee deposit will be forfeited.

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5. UTILITIES, FEES AND TAXES – The charges for utilities, including but not limited to, electricity,
water and telephone shall be for the sole account of the LESSEE. All expenses for the
installation of any of such utilities shall be for the sole and exclusive account of the LESSEE.
However, real property taxes and other related taxes and other related taxes on the LEASED
PREMISES shall be for the account of the LESSOR while all business taxes/fees in connection
with the business of the LESSEE shall be for the account of the LESSEE.

6. SIGNS, STREAMS AND OTHER ADVERTISEMENT MATERIALS – The LESSOR consents to the
placing of signs, streamers and other advertisement materials by the LESSEE on the LEASED
PREMISES at the LESSEEs own expense;

7. IMPROVEMENTS AND ALTERNATIONS – The LESSEE shall, at its own expense, improve the
LEASED PREMISES to make it suitable for commercial purposes. However, permanent
structures and improvements which will substantially alter the LEASED PREMISES shall not be
undertaken by the LESSEE without the prior written consent and approval of the LESSOR.
Removable improvements may be removed by the lessee at the expiration of the term of this
lease or termination thereof for cause, as herein provided, however, permanently attached
improvements shall remain upon and be delivered with the premises as part thereof without
reimbursing their cost to the LESSEE;

8. MAINTENANCE OF THE LEASED PREMISES – The LESSEE shall always maintain the LEASED
PREMISES in a clean and sanitary condition, free from noxious odors, disturbing sounds and
other nuisances. The LESSEE shall not bring into the LEASED PREMISES highly inflammable or
explosive substances which may expose it to fire or such other substances the possession or
use thereof is prohibited by law. To ensure compliance herewith, the LESSEE authorizes the
LESSOR or his duly authorized representative to inspect the LEASED PREMISES at any time of
the day and reasonable the of the night;

9. SUBLEASE AND ASSIGNMENT OF RIGHTS – The LESSEE shall not directly or indirectly sublease,
assign, transfer, convey, mortgage or, in any way, encumber its right to the LEASED PREMISES
 or any portion thereof, without the prior written consent and approval of the LESSOR. Any
contract that may be made in violation of this clause be null and void;

10. COMPLIANCE WITH LAWS, ORDINANCES, AND RULES AND REGULATIONS – The LESSEE
undertakes to comply with all the laws, ordinances, and rules and regulations passed or
hereinafter to be passed by the City and National Governments relative to or affecting the use
and sanitation of the LEASED PREMISES. Failure on the part of the LESSEE to comply herewith
shall be a ground for the termination of this Contract upon prior notice to the LESSEE;

11. PRE-TERMINATION – The LESSOR and LESSEE have the right to pre-terminate the lease for a
valid cause by giving at least thirty (30) days prior notice to the other party. Valid clause
includes, among others, non-compliance with the terms and conditions of this Contract or
existing laws. No waiver of the LESSOR shall be deemed to have made unless reduced into
writing and signed by the LESSOR;

12. WAIVER OF RIGHT – The failure of the LESSOR to insist on the strict performance of any of the
terms and conditions of this Contract shall not be deemed a waiver of any right or remedy
that the LESSOR may have against the LESSEE under this Contract or existing laws. No waiver
of the LESSOR shall be deemed to have been made unless reduced into writing and signed by
the LESSOR;

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13. SEPARATIVELY CLAUSE – If one or more provisions contained in this Contract shall be declared
invalid, illegal or unenforceable by any competent authority, the validity, legality or
enforceability of the remaining provisions herein shall not in any way be affected or impaired;

14. GOVERNING LAW AND VENUE OF COURT ACTION – This Contract, as well as the
interpretation, construction and enforcement of the provisions thereof, shall be governed by
the laws of the Republic of the Philippines. Any legal action arising from or in connection with
this contract shall be filed in the appropriate court of Tarlac City to the exclusion of other.

IN WITNESS HEREOF, the parties have hereunto affixed their signatures this ___ day of March
2018 at Tarlac City.

ROSITA SUAREZ MARICRIS PANINGBATAN

Lessor Lessee

JOHN SUAREZ GILBERT PANINGBATAN

 Lessor Lessee

SIGNED IN THE PRESENCE OF:

ACKNOWLEDGEMENT

Republic of the Philippines

Tarlac City

BEFORE ME, A NOTARY PUBLIC, this __ day of March 2018 personally appeared the above-
named parties of this CONTRACT OF LEASE, with their respective competent evidence of identity
written below their names and with their witnesses, known to me and to me known to be the same
persons who executed the foregoing instrument and acknowledgement the same to be their free
and voluntary act and deed.
This instrument consisting of four (4) pages including the page on which this
acknowledgement is written has been signed by the parties and their witnesses and sealed with my
notarial seal.

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

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