CONTRACT OF LEASE

KNOW ALL MEN BY THESE PRESENTS:

This CONTRACT OF LEASE is made and entered into by and between:

GELINE JOY D. SAMILLANO of legal age, single, Filipino and with postal
Address at Cattleya Street Don Francisco Village, Jaro, Iloilo City Philippines and
hereinafter referred as LESSOR;

AND

ASA PHILIPPINES FOUNDATION INC., represented by Ms. MARYCRIS L.

TOLARBA Branch Manager, hereinafter called the LESSEE;

WITNESESS

WHEREAS, the LESSSOR is offering for lease a house Residence, located at 16

Jabonillo Street, Pavia Iloilo, at a price of SEVEN THOUSAND PESOS ONLY (Php.
7,000) and LESSEE hereby agree to lease the same.

NOW THEREFORE, for and in consideration of the forgoing premises, covenants

and stipulations, the PARTIES hereto hereby AGREE as follows:

1. LEASED PERIOD – Which the term of this lease shall be for a period of
one year (1-year) from October 6, 2018 to October 6, 2019 renewable at
the option of the parties, PROVIDED, however, that LESSEE shall have the
optional of terminating the contract at anytime by giving a 30-days prior
notice to the LESSOR.

2. AMOUNT OF RENTAL – That the monthly rental shall be Php.7, 000.00

(Seven Thousand Pesos Only).

3. RENTAL DEPOSIT – That upon execution of this contract of lease, the

LESSEE further agree to pay the LESSOR Two (2) months deposit, one
(1) month advance.

The deposit shall answer for any damages, unpaid charges of electricity, water and
other liabilities, which the LESSEE might incur at the end of this contract of lease.
Any excess thereof, the LESSOR will refund the LESSEE within One (1) month after
the expiration of the contract. LIKEWISE, if there are no damages found the LESSEE
shall then consume through occupancy the said deposit of 1 month.

4. PUBLIC UTILITIES – All expenses of water, electricity, gas and other

conveniences being used or to be used by the LESSEE in the premises shall
be shouldered by the LESSEE.

5. USE OF PEMISES – It is essence of the contract that the LESSEE shall

use the leased premises exclusively as office cum residence. It shall not be
used for any immoral or unlawful activities. It is being understood that the
LESSEE are expected to comply with the rules and regulations of the
National Population Control Commission as well as the rules and
regulations with respect to fire safety as imposed by Fire Code of the
Philippines, provided, further, that the LESSEE shall not, at anytime, store
highly flammable materials as well as illegal imported or manufactured
 articles or contrabands, the LESSEES shall at their own expenses, maintain
the leased property in clean and sanitary conditions, the LESSEE shall not
permit any obnoxious odours or noises to emanate from the leased property.

6. ALTERATION – Without the written consent of the LESSOR, the

LESSEE shall not make any alterations, additions or improvement on the
leased premises. Any improvements introduced shall be for sole account of
the LESSEE, LESSEE however, are allowed to remove any improvements
introduced by them if not substantial damage can be caused on the
premises, otherwise, they shall remain there at without obligation on the
part of the LESSOR to reimburse the LESSEE for the expenses/costs
incurred by the construction thereof.

7. REPAIRS – The LESSEE shall undertake the repair caused by ordinary

wear and tear of the leased premises during the period of their occupancy,
including the restoration of any damage or breakage out of the negligence of
the LESSEE household thereof.

8. THIRD PARTY LIABILITY – The LESSEE, during the occupancy of the

leased premises, shall hold the LESSOR free and harmless from any
damages, liabilities or responsibilities to any person or property arising out
of the consequences of the leased property by the LESSEE, their agents,
employees, family members or domestic help.

9. RETURN OF THE LEASED PROPERTY – Upon the expiration of the

period of the lease or in event this contract is not renewed or rescinded, the
LESSEE shall peacefully vacate the premises and restore possession thereof
to the LESSOR, and accordingly, turnover all keys of the leased premised to
the LESSOR.

10. RENEWAL OF CONTRACT – One month prior to the expiration of the

Contract, the LESSEE shall give a written notice to the LESSOR to renew
or not to renew the contract. The Contract or Lease may be renewed and the
monthly rental cost shall be re-evaluated only upon the mutual written
agreement between the LESSEE and the LESSOR.
11.

The LESSOR shall have the first opinion to renew this lease, upon expiration, subject
to such reasonable stipulation the parties may agree. Otherwise the LESSEE shall forfeit
the option to renew this contract.

IN WITNESS WHEREOF, the parties have hereunto signed this agreement this ____
day of ___________, at ________ Philippines.

Lessor Lessee

SIGNED IN THE PRESENCE OF:

 ACKNOWLEDGEMENT

REPUBLIC OF THE PHILIPPINES

SULTAN KUDARAT )

BEFORE ME NOTARY PUBLIC, this _____________ day of __________, 2016 in

TACURONG SULTAN KUDARAT personally appeared following exhibiting:

NAME RES. CERT.# DATE PLACE

With their respective Community Tax Certificate Nos. abovementioned, known to

me to be the same persons who executed and signed the foregoing instrument known as
CONTRACT OF LEASE and they all acknowledge to me that the same is their own free
acts and voluntary deed.

This instrument consisting of the three (3) pages, including this page where this
acknowledgement is written, is signed by the parties hereto and their instrumental
witnesses in each and every pages thereof.

WITNESS MY HAND NOTARIAL SEAL on the date, the place first above
written.

Notary Public
Doc. No. ; Until December
Page No. ; PTR. NO.
Doc. ; IBP NO.
Series of 2015 Issued at