CONTRACT OF LEASE

KNOW ALL MEN BY THESE PRESENTS:

This Contract of Lease made and entered into by and

between:

NAZIR S. MATARANAS, of legal age, Filipino, married

to LIBERTY G. MATARANAS, hereinafter referred to as the
LESSOR;

-- and --

DANILO BERAY, of legal age, Filipino, married and a

resident of Block 8, Lot 14 Phase 5, Marigold St., El Rio Vista
Village, Davao City, hereinafter referred to as the LESSEE;

--- W I T N E S S E T H ---

That the LESSOR is the true, lawful and absolute owner

of a parcel of land located at Roxas Extension, Digos City,
covered by Ktaibayan ng Orihinal na Titulo Blg. P-34232 with
a structure, with an area of FIVE HUNDRED ONE (501)
SQUARE METERS, more or less;

That the LESSEE is offering to lease the building and

spaces therein;

That the LESSOR is amenable to lease the said building

space to the LESSEE under the following terms and
conditions:

1. That the monthly rental of TWENTY THOUSAND

PESOS (Php 20,000.00) shall be payable during the
first five days of each month starting on December 16,
2016;

2. That failure to pay for THREE (3) successive monthly

rentals by the LESSEE shall give the LESSOR the option
to take appropriate legal action and to terminate this
lease contract;

3. That all expenses for the improvements of the building

space shall be borne by the LESSEE. Any improvement
which if removed shall cause damage to the structure or
building SHALL NOT BE REMOVED and the same shall
 automatically become part of the property of the
LESSOR;

4. That the bills for electricity, water and telephone shall be

borne by the LESSEE;

5. That this lease contract shall be for a period of TWO (2)

years commencing from December 16, 2016 until
December 16, 2018 and subject for renewal depending
upon the agreement of both parties;
6. That the LESSOR shall impose an increase of rental fee
of 5% every year;

7. That the LESSEE shall pay the 5% withholding tax of the

rental fee in addition to the monthly rental fee;

8. That the LESSEE shall have no right to sublease the

property without the written consent of the LESSOR;

9. That the LESSEE shall use the leased premises for the
purpose it was intended which is for KITCHEN and
BUNKHOUSE purposes;

10. That upon signing of this contract, the LESSEE shall

give one(1) month deposit equivalent to TWENTY
THOUSAND PESOS (Php 20,000.00) and one month
advance deposit equivalent to TWENTY THOUSAND
PESOS (Php 20,00.00);

11. That in case of pre termination of this agreement, the

LESSEE shall refund the LESSOR of the notarial fee paid
by the latter;

12. That this contract shall be complied with in good faith.

IN WITNESS WHEREOF, parties hereunto set their

hands, this 6th day of January 2017 in Digos City, Philippines.

NAZIR MATARANAS
Lessor

DANILO BERAY
Lessee
Signed in the presence of: PEDRO TATA JUAN TAMAD
Witnesses

NOTARIAL ACKNOWLEDGMENT

Republic of the Philippines]

Province of Davao del Sur ]s.s
City of Digos ]
x---------------------------------/

BEFORE ME this 6th of January 2017 in Digos City,

Philippines, personally appeared the above-named persons
with their respective valid identification Nos. as above
indicated, all known to me and to me known to be the same
persons who executed the foregoing instrument and they
acknowledged to me that the same are their free act and
voluntary deed.

This instrument, consisting of TWO (2) pages including

the page on which this acknowledgement is written, has
been signed by the parties including the instrumental
witnesses.

IN WITNESS WHEREOF, I have hereunto set my hand

and affixed my notarial seal on the date and place first
above-written.

JAMES L. DECOLONGON
Notary Public
Doc No. ____ Until December 31, 2017
Page No. ____ Roll No.: 82714
Book No. ____ IBP No. 631820, January 6, 2014, Digos
City
Series of 2017 PTR No.080324 January 6, 2014 Digos
City TIN: 290-937-407 January
6, 2010 Digos City