CONTRACT OF LEASE

KNOW ALL MEN BY THESE PRESENTS:

This Contract of Lease, made and entered into by and between:

EDWIN P. BASAYA, of legal age, Filipino, married and a resident of Chito Cabanag St.,
Interior Libis Road, Brgy. San Pedro, Puerto Princesa City, Province of Palawan,
Philippines, hereinafter referred to as the LESSOR;

- and

ATTY. EMILIA CONCEPCION D. SEVERINO, of legal age, Filipino, single, and a

resident of Wescom Road, Brgy. San Pedro, Puerto Princesa City, Palawan, Philippines,
hereinafter referred to as the "LESSEE";

WITNESSETH: that

WHEREAS, the LESSOR is the owner/administrator of commercial building specifically

referred to as Basaya Building located at Natioanl Highway, Puerto Princesa City,
Palawan;

WHEREAS, the LESSEE desires to lease Unit No. 2, found in the Second (2 nd) Floor of
said commercial building and the LESSOR is willing to lease the same unto the LESSEE,
subject to the followings terms and conditions hereinafter specified:

NOW, THEREFORE, for and in consideration of the foregoing premises and the mutual
covenants and obligations hereinafter stipulated and to be performed, the LESSOR
hereby leases and the LESSEE hereby accepts by way of lease from the LESSOR, the
parties hereby agree as follows:
 Contract of Lease
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1. Term: This lease shall be for a duration of TWO (2) year commencing from JUNE 16,
2015 and to end on JUNE 15, 2017, renewable at the option of the LESSEE at such new
terms and conditions as may agreed upon by the parties.

2. Rental: The LESSEE agrees to pay the LESSOR the monthly rental
fee of PESOS: EIGHT THOUSAND (P8,000.00), Philippine currency. Upon
signing of this Contract of Lease, the LESSEE shall pay the LESSOR ONE (1)
month rental in advance. The LESSEE shall also issue ELEVEN (11) post-dated
checks covering the monthly rentals for the first year and at the beginning of the
second year shall issue another TWELVE (12) post-dated checks covering the
monthly rentals for said period.

3. Deposit: The LESSEE shall also pay the LESSOR the sum of TWO (2) months
deposit of PESOS: SIXTEEN THOUSAND (P16,000.00), Philippine Currency,
to guarantee the payment of any damage to the leased premises, unpaid utilities
and other obligations to third parties by the LESSEE during the term of the
agreement, which deposit shall bear no interest. Unless applied to said damages,
unpaid utilities and other obligations to third parties, said deposit shall be returned
to the LESSEE upon expiration of THIRTY (30) days after the termination of this
agreement.

4. Use of the Premises: The premises shall be exclusively used as Office of the
LESSEE. The premises shall not in any way be used for any illegal or unlawful
activity or to keep materials, chemicals and other matters considered as fire
hazards or nuisance to the building. The use of any gas or electric stove for
cooking is prohibited.

6. Improvements: The LESSEE shall not make any alteration, structural changes
or improvement in the leased premises without the prior written consent of the
LESSOR. However, at the termination of the lease, the same not having been
renewed by the parties, the LESSEE shall restore the leased premises in its
original state existing at the commencement of the agreement.
Restoration of the LEASED PREMISES shall be for the exclusive account of the
LESSEE. Any improvement after the lease is terminated and after the LESSEE
shall have vacated the premises shall belong to the LESSOR.

7. Facilities and Utilities: All charges for water, electricity, and other public utilities
used in the leased premises shall be for the account of the LESSEE. The LESSEE
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hereby guarantee the prompt payment of any and all charges heretofore mentioned
as they fall due.

8. Repairs: The LESSEE shall, during the duration of the lease, make all minor
repairs on the leased premises to preserve the same in serviceable or tenantable
conditions at the LESSEE's expense except replacement of parts due to natural
wear and tear. The LESSEE, however, shall give advance written notice to the
LESSOR of Ten (10) days prior to undertaking any minor repair. All damages
caused to the leased premises due to the fault, misuse, carelessness, and/or
negligence or on account of the use thereof by the LESSEE and other occupants
therein shall be made good and repaired by the LESSEE. Should the LESSEE
fails to make the necessary and appropriate repairs within five (5) days from
demand, the LESSOR shall undertake the needed repairs and shall charge the
costs thereof to the LESSEE.

9. Inspection of the Premises: To ensure that the lease premises is being maintained
in good and tenantable conditions, the LESSOR or his authorized representative is
hereby given the right after due notice, to enter and inspect any part of the leased
premises during reasonable hours and as the occasion thereof might require.

10. Assignment and Sub-Lease: The LESSEE shall have no right to assign or
transfer its rights, interest and obligations under the lease contract or sub-
lease contract premises or any portion thereof to any person or entity without the
prior written consent of the LESSOR.

11. Injury or Damage: The LESSEE hereby assumes the full responsibility for any
damage which may be caused to the person or property of any third person in
the leased premises during the duration of the lease. LESSEE further binds herself
to hold the LESSOR free and harmless from damages as a result thereof, unless
such damage or liability arose out of structural or other inherent defects in
the leased premises or is due to the fault of the LESSOR, his agent or
representatives.

12. Sale of Leased Premises: The LESSEE recognizes the right of the LESSOR to
sell or otherwise convey ownership of the leased premises to any other interested
party, provided the LESSEE's rights under the lease are respected.

13. Hazardous and Prohibited Materials: The LESSEE shall not keep or store in
the lease premise any hazardous and obnoxious substance or inflammable
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material or substance that might constitute a fire hazard or other chemicals and
materials or prohibitive drugs in violations of the laws of the Philippines.

14. Rules and Regulations: The LESSEE binds himself to comply with the existing
rules and regulations promulgated by the building administrator and any other
environmental or other laws, ordinances, rules and regulations applicable to
the leased premises.

15. Violations: The LESSOR may, at her option, consider this agreement
automatically rescinded and cancelled, without need of any court action, upon ten
(10) days notice given to the LESSEE based on any of the following grounds:

a. Failure of the LESSEE to pay One (1) month rental and other bills or
charges heretofore mentioned as they fall due for any reason whatsoever
within the period to pay.

b. For any violation made by the LESSEE or her agents and

representatives of any of the terms and conditions stipulated in this contract.

c. In case the leased premises shall be vacated or abandoned for a

period of thirty (30) days without prior written notice to the LESSOR.
Consequently, the LESSOR is hereby permitted and authorized by the
LESSEE to enter the premises, either by force or otherwise, without being
liable to prosecution therefor.

Upon termination of the contact of lease based on any of the foregoing

grounds and upon demand, the LESSEE shall immediately vacate and
peacefully surrender possession of the lease premises to the LESSOR or his
duly authorize representative.

16. Remedies: In addition to the provisions of the preceding paragraph, the LESSEE
hereby acknowledges and recognizes the right of the LESSOR to avail or resort to
any or all of the following remedial measures without need of court action:
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a. In case of failure of the LESSEE to pay or settle any due and unpaid
obligations (rentals, electricity, water, and any other public utilities) as
provided for under this lease contract , the LESSEE hereby authorizes the
LESSOR, who is hereby given the right, to disconnect all facilities such as
but not limited to electricity, water, and any other public utilities in
the leased premises without need of further notice to the LESSEE.

b. Likewise, until the aforesaid unpaid obligations are paid or settled, the
LESSOR is hereby given the right, to re-renter the lease premises, remove
all persons therefrom, take possession of any or all furniture, fixtures and
equipment found thereon or therein and/or padlocked the door of the
premises.

c. Moreover, by way of a security or to secure the payment of any of the

unpaid obligations of the LESSEE, the LESSEE consents and authorizes the
LESSOR to retain possession of any or all the furniture, fixtures and
equipment that may found on the premises as belongings of the LESSEE
until such time that all the unpaid obligations of the LESSEE are paid or
settled.

d. If after ten (10) days from the date the LESSOR shall have taken
possession of the aforesaid furniture, fixtures and equipment by
way of security, the LESSEE still fails to pay or settle its unpaid obligations
to the LESSOR the LESSEE hereby consents and authorizes the LESSOR to
sell by way of public or private sale any or all the furniture's fixtures
equipment as may be sufficient to pay or settle the lessee's unpaid
obligations plus the accrued interests and attorney's fee. All expenses that
may be incurred in the sale shall be for the account of the LESSEE.

For purposes of selling the aforesaid properties, the LESSEE hereby

irrevocably appoint the LESSOR as its attorney-in-fact to sell and
dispose of any or all of the aforesaid the property of the LESSEE in a
private or public sale at a price as may be determined to be just and
reasonable by the LESSOR and to apply the proceeds therefrom to any or all
the unpaid obligations of the LESSEE.

If the sale proceeds should proved to be inadequate to fully settle the unpaid
obligations of the LESSEE, the LESSEE shall remain liable to the LESSOR
for any of the deficiency.
Contract of Lease
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Should the proceeds of the sale of any of the aforesaid properties be

sufficient to pay or settle all of the lessee's unpaid obligations, the LESSEE
may get back its other properties not sold by the LESSOR Furthermore, if
the proceeds of the sale of any of the same properties exceed the LESSEES
unpaid obligations, the LESSOR shall return such excess proceeds to the
lessee.

If after thirty (30) days from written notice of the LESSOR directed to the
last known address of the LESSEE, the LESSEE still fails to get back the
remaining properties or excess proceeds, said properties/proceeds shall then
be deemed abandoned in favor of the LESSOR.

The above enumerated remedies provided for the LESSOR shall not be
exclusive, but shall be cumulative and without prejudice to any court action
that may be instituted by the LESSOR for any causes of action that may
arise under this contract of lease.

17. Attorney's Fee: In case the LESSOR resorts to judicial action base upon or in
connection with this lease contract, the LESSEE hereby agrees to pay attorney's
fee equivalent to TEN (10%) percent of the total amount involved as claimed by
the LESSOR as against the LESSEE plus all court expenses and/or costs of
litigation.

18. Time of Essense: Time is the essence hereof any waiver by the LESSOR of a
breach of any term, covenant or condition herein contained, whether express or
implied, shall not constitute a waiver of any subsequent breach thereof, or a
breach of covenant to pay the rent so accepted. No waiver by the LESSOR shall
be deemed to have been made unless expressed in writing and signed by the
LESSOR.

IN WITNESS WHEREOF, the parties have hereunto set their hands, this _______ day
of _______, 2015 in City of Puerto Princesa, Palawan, Philippines.
Contract of Lease
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EDWIN P. BASAYA ATTY. EMILIA CONCEPCION D. SEVERINO

Lessor Lessee

SIGNED IN THE PRESENCE OF:

_____________________________ _____________________________

ACKNOWLEDGMENT

REPUBLIC OF THE PHILIPPINES )

QUEZON CITY ) S.S.

BEFORE ME, this ______ day of _______, 2015, in City of Puerto Princesa,
personally appeared:

NAME EVIDENCE OF IDENTITY PLACE AND DATE OF

ISSUE

EDWIN P. BASAYA
Contract of Lease
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GSIS UMP ID NO.

ATTY. EMILIA CONCEPCION Puerto Princesa City
D. SEVERINO 006-0025-6822-7

known to me to be the same persons who executed the foregoing Contract of Lease, and
acknowledged that the same are their free act and deed.

This Contract of Lease, consisting of SIX (6) pages, including this page on which
this acknowledgment is written, has been signed on the left margin of each and every
page thereof by EDWIN P. BASAYA and ATTY. EMILIA CONCEPCION D.
SEVERINO and their witnesses, and sealed with my notarial seal.

IN WITNESS WHEREOF, I have hereunto set my hand on the date and place
above written.

NOTARY PUBLIC

Doc. No._______;

Page No._______;

Book No.______;

Series of_______.