CONTRACT OF LEASE

Know all men by these presents:

This Contract of Lease is entered by and between:

ARA-JM HAULING SERVICES, a sole - proprietorship business with principal

office located at Lot 2, B3, JLA Subdivision, Mamay Road, Alfonso Angliongto Sr., Davao
City, duly represented by its proprietor, CHRYSTALINE CALAO ROSAL, hereinafter
referred to as “FIRST PARTY”; and

NOLY CLARITO TRUCKING SERVICES, a sole - proprietorship business with

principal office located at Block 1, Lot 7, Bouganvilla Street, Villa Corazon, Barangay
Catalunan Grande, Talomo, Davao City, registered and represented under the name,
NOLY C. CLARITO, hereinafter referred to as “SECOND PARTY”;

Witnesseth:

WHEREAS, the FIRST PARTY is a manager of a portion of a container yard

consisting of Five Hundred (500 sq. m.) Square Meters, more or less, located at Km. 8,
Cuaco Road, Pampanga, Davao City, operated by Trans Ocean Container Services Phils,
Inc., a domestic corporation duly organized and existing under the laws of the Republic
of the Philippines with principal office located at Rm. 1409, 14th Floor, Federal Tower,
Dasmarinas St., Binondo, Manila;

WHEREAS, the SECOND PARTY is engaged in a Trucking and Hauling Services

and intends to enter into a lease agreement with the FIRST PARTY of a portion of its
managed container yard located at the aforesaid address;

WHEREAS, the FIRST PARTY agrees to lease out a small portion of its managed
container yard consisting of One Hundred Fifty Five (155 sq. m.) Square Meters only,
hereinafter referred to as “leased premises”, to the SECOND PARTY, and the SECOND
PARTY is willing to lease the same;

NOW, THEREFORE, for and in consideration of the foregoing premises and to the
mutual covenants and stipulations herein set forth and contained, the FIRST PARTY and
the SECOND PARTY hereby agree the following terms and conditions for the lease
agreement, to wit:

1. PURPOSES. The leased premises shall be used exclusively by the SECOND PARTY
for its storage of its cargo trucks only and shall not be diverted to other uses;

2. DURATION OF LEASE. The term of lease is for one (1) year from May 15, 2018 up
to May 14, 2019. Upon its expiration, this lease may be renewed under such terms
and conditions as my be mutually agreed upon by both parties;

3. RENTAL RATE. The monthly rental rate for the leased premises shall be in the
amount of Seven Thousand (P7,000.00) Pesos per month;

4. PAYMENT OF RENT. Rent shall be paid every 15th day of each month in cash; the
FIRST PARTY shall be personally responsible in collecting the subject rent at the
leased premises;

5. ADVANCE PAYMENT OF RENT AND DEPOSIT FEE. The SECOND PARTY shall
pay advance rental payment of one (1) month in the amount of Seven Thousand
(P7,000.00) Pesos; and in the amount of Seven Thousand (P7,000.00) Pesos also as

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 deposit which may be applied by the FIRST PARTY only in the instance of unpaid
monthly rent of the SECOND PARTY prior to the expiration of this lease;

6. RETURN OF ADVANCE PAYMENT OF RENT AND DEPOSIT FEE. Any excess or

remaining amount of the advance payment of rent and deposit fee shall be returned
by the FIRST PARTY to the SECOND PARTY not later than 10 days from the
expiration of the lease sans notice in cash and in full.

7. WAIVER OR LIABILITY. The FIRST PARTY acknowledged that the SECOND

PARTY is free from any and all liabilities, damages, or responsibilities arising from
the FIRST PARTY’s agreement with Trans Ocean Container Services Phils, Inc.;

IN WITNESS WHEREOF, the parties have hereunto affixed their signatures on

___ day of ______________ 2018, at Davao City, Philippines.

ARA-JM HAULING SERVICES

First Party

Represented by:

CHRYSTALINE CALAO ROSAL

NOLY CLARITO TRUCKING SERVICES

Second Party

Represented by:

NOLY C. CLARITO
Proprietor

SIGNED IN THE PRESENCE OF:

______________________ ______________________

ACKNOWLEDGMENT
Republic of the Philippines )
In the City of Davao ) s.s
x----------------------------------------x

BEFORE ME, a Notary Public, for and in Davao City, this ___ day of _________
2018, the above-named parties personally appeared exhibiting to me their respective
identification card, _______________________, ________________________, and
__________________________all known to me to be the same persons who executed
the foregoing instrument and hereby acknowledged to me that the same is their free and
voluntary act and deed. This instrument consisting of two (2) pages, including this page
on which this acknowledgment is written refers to a Contract of Lease and has been
signed by the parties and their witnesses and sealed with my notarial seal.

WITNESS MY HAND AND NOTARIAL SEAL.

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