CONTRACT OF LEASE

(Renewal)

KNOW ALL MEN BY THESE PRESENTS:

This Contract made and entered by and between:

GILDA G. BONDOC of legal age, Filipino, married/single and resident of Amlo

Subdivison, Zone III Sta. Cruz Davao Del Sur , hereinafter referred to as the
LESSOR,

and

Center for Agriculture and Rural Development (CARD), Inc., a non-stock, non-profit
corporation duly organized and existing under the laws of the Philippines, with principal
place of business at 20 M.L. Quezon St., City Subdivision, San Pablo City, Laguna and
represented herein by its Regional Director, DAISY JANE D. CABALLERO and its Area
Manager ADONIS C. ORILLA, hereinafter referred to as the LESSEE;

WITNESSETH:

The LESSOR hereby leases unto the LESSEE, and the latter hereby accepts in lease from
the former, the premises located at Amlo Subdivision, Zone III Sta. Cruz Davao Del Sur
under the following terms and conditions:

1. That the lease contract shall be for the period of one (1) year starting from
March 13, 2017 to March 13, 2018 and renewable thereafter upon agreement of
the parties;

2. That the monthly rental shall be Ten thousand five hundred twenty six and .
32/100 pesos only (P 10,526.32) payable every 15th day of the month.

3. That the LESSEE shall deduct from the gross monthly rental the five percent (5%)
withholding tax and correspondingly remit the same to the Bureau of Internal
Revenue (BIR) for the credit of the LESSOR;

4. That the amount of thirty thousand five hundred twenty six and .31/100
pesos only (30,526.31) made by the LESSEE to the LESSOR by way of rental
deposit as per previous contract dated September 13, 2015 shall be applied to
this contract as advance/s and security deposit to wit:

4.a. Whether by expiration or termination of this Contract, the Ten thousand five
hundred twenty six and .32/100 (10,526.31) advance/s rental made by the
LESSEE shall be applied to the last one ( 1) month/s of the lease.

4.b. Within thirty (30) days from the expiration or termination of this Contract,
the LESSOR shall return to the LESSEE its two (2) month/s security deposit of
twenty thousand 20000) after deducting therefrom whatever amount the LESSEE
might then be owing to the LESSOR.

5. That the LESSEE has the option to pre-terminate this contract whenever the
situation demands. The LESSEE, however, must give a written notice to the
LESSOR at least two (2) months prior to the intended termination date of the
contract so as not to forfeit the deposit as stated above;

6. That the monthly electric, water, and telephone bills and other rates payable
during the term of this contract shall be paid by the LESSEE;
 7. That the LESSEE shall not directly or indirectly sublease, assign, transfer, convey,
mortgage or in any way encumber its right of lease over the whole or part if the
leased properties under any circumstances whatsoever, without the written
consent of the LESSOR;

8. That the LESSEE shall at its expense maintain the leased premises. Ordinary
repairs within the premises that arise in the daily use of the facilities therein shall
be for the account of the LESSEE while major repairs shall be for the account of
the LESSOR. In the event the leased premises shall be damaged, or destroyed,
whether partially or entirely, except in cases of force majeure or due to
circumstances beyond the control of the LESSEE, the LESSEE shall repair, restore
or reconstruct the damaged property in such a manner that after such repair,
restoration, or reconstruction, the leased premises shall be in a good and
habitable condition;

9. That alterations, additions or improvements may be made by the LESSEE with the
consent of the LESSOR. Any permanent improvement, addition or alteration shall
become the property of the LESSOR upon the expiration of the lease;

10.That the LESSEE shall maintain cleanliness of the premises including but not
limited to its sidewalk, toilet facilities and garbage disposal system;

12. That the LESSEE shall not make or suffer any unlawful, improper or offensive
use of the premises or
use it other than the purpose for which it is leased. Likewise, the LESSEE shall
not bring or store in the leased premises any inflammable or explosive goods or
articles which may expose the leased premises to fire or increase fire hazards;

13. That the subject to consultation with and approval by the LESSOR which shall not
be unreasonably
denied and provided that there are no structural or aesthetic impediments, the
LESSEE shall have the right to install, inscribe and/or paint its sign, logo and
other advertising medium on any part of the Leased premises, together with the
right to remove and/or stop any obstruction thereto;

14. That in case there is a change/transfer of ownership over the leased premises
during the term of the
lease, the LESSOR hereby warrants that the new owner/transferee shall respect
all the terms and conditions of this contract. Violation of this warranty will subject
the herein LESSOR to a penalty equivalent to the amount of two months rental,
exclusive of other remedies to which the LESSEE is entitled under the law;

15. That the LESSOR warrants that it is the absolute owner of the leased premises.
The LESSOR binds
itself to secure the LESSEEs quiet and peaceful possession and enjoyment of
the LEASED PREMISES and to defend the LESSEE from any disturbances and
nuisances which endanger the LESSEEs quiet and peaceful possession of the
leased premises, and agrees to indemnify the LESSEE for any breach of this
undertaking;

16. That violation of any of the above terms and conditions will produce ipso facto
the rescission of this
contract of lease.

IN WITNESS WHEREOF, the parties hereto have set their hands this
________________________ at _____________________.

GILDA G. BONDOC
Lessor
Center for Agriculture and Rural Development (CARD), Inc.
Lessee
By:

DAISY JANE D. CABALLERO and ADONIS C. ORILLA

Regional Director Area Manager

SIGNED IN THE PRESENCE OF:

RICARDO R. ONGOB JR.-Unit Manager ETHEL

GRACE VIBO
Signature over Printed Name Signature over Printed
Name

REPUBLIC OF THE PHILIPPINES )

City/Municipality of __________ ) SS

BEFORE ME, a Notary Public for and in the place above mentioned personally
appeared:

Name Identification Card No. Date and Place

Issued
Daisay Jane D. Caballero ___________________
__________________
Adonis C. Orilla 249-638-762
2006- San Pablo City
Gilda G. Bondoc ____________ -
________________

known to me and to me known to be the same persons who executed the foregoing
instrument and acknowledged to me the same is their voluntary act and deed and then
corporate act of the entity represented.

WITNESS MY HAND AND SEAL this ____________________________ at

_______________________.

Doc. No. _____;

Page No. _____;
Book No. _____;
Series of ______.