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CONTRACT OF LEASE

KNOW ALL MEN BY THESE PRESENTS

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

THE SHOWROOM CO., a partnership duly organized and existing under Philippine Law with
business address at Unit 9 & 10 Ushio Plaza I 67 Timog Avenue corner Scout Torillo, Quezon City, Metro
Manila, Philippines, represented by its owners Lovely Rose G. Durian & Bernadeth M. Salcedo and
hereinafter referred to as the LESSOR;

AND

STYLE ISLE duly organized and existing under Philippine Law with principal addresses at B-9 L-18
Saint Simon St. SPS7, San Bartolome, Novaliches, Quezon City, No. 20 Denver St. Greenville Subdivision,
Merville Park, Paraňaque and No. 60 San Juan Bautista, Betis, Guagua, Pampanga, represented by ALYSSA
NICOLE S. CAPISTRANO, CRISTINE JOYCE A. SALCEDO and MA. ELLINE CAYANAN which is
hereinafter referred to as the LESSEE;

WITNESSETH:

WHEREAS, the LESSOR is the owner of the business establishment known as THE SHOWROOM
CO. located at Unit 9 & 10 Ushio Plaza I, 67 Timog Avenue corner Scout Torillo, Quezon City.

WHEREAS, the LESSEE has offered to lease from the LESSOR the second floor in the said business
establishment.

2ND FLOOR of THE SHOWROOM CO.

Hereinafter referred to as the LEASED PREMISES;

WHEREAS, LESSOR has agreed to lease to the LESSEE the above described premises subject to the
terms and conditions hereunder stated.

NOW, THEREFORE, for and in consideration of the foregoing premises LESSOR and LESSEE have
mutually agreed, as follows:

1. TERM OF THE CONTRACT OF LEASE – This contract shall cover the period of one (1) year
starting from July 9, 2018 to July 8, 2019.

Renovation period given by LESSOR to LESSEE without rent is from June 25, 2018 to July 8,
2018.

2. RENTAL - The LESSEE shall pay a monthly rental of seventy thousand pesos only (P70,000.00).

2.1 The monthly rental shall be increased every anniversary date hereof with prior notice and
approval of both parties at the rate of 10%.

2.2 The LESSOR has the right to litigate if LESSEE is unable to pay on due date.

3. ADVANCE RENTAL, DEPOSIT AND GOODWILL MONEY – Upon the signing hereof
and prior to the entry of the LESSEE into the premises, the LESSEE shall pay unto the LESSOR the
following:
A. One (1) month advance rental.

B. Two (2) months deposit rental.

4. DELIVERY OF LEASED PREMISES – The LESSEE hereby accepts delivery of the entire
premises in good and tenantable condition and shall keep it in such state during the lifetime of lease.

5. THE DEPOSIT - The deposit shall answer for losses of and/or damages to fixtures, interior
walls, etc., not due to ordinary wear and tear; including damages due to renovations and
beautifications.

The LESSEE shall have no right to use the deposit to cover rentals and in the event that the
LESSEE fails to pay any rental due, the latter shall be nonetheless guilty of non-payment of rentals
notwithstanding the deposit.

The same shall be returned to the LESSEE sixty (60) days from the termination of the contract of
the lease and turnover of the premises subject to the deductions pertaining to the aforesaid unpaid
utilities and to pay for losses of or damages to fixtures, interior walls of the premises etc., not due to
ordinary wear and tear; including damages due to renovations and beautifications.

The deposit shall be forfeited in full in favor of the LESSOR in the event of termination of this
contract by the LESSEE or in case the latter abandons the premises prior to the expiration hereof;
PROVIDED THAT the forfeited deposit shall not be affected in case there would be liabilities, as
herein mention and the LESSOR shall have the right to recover the same from the LESSEE.

6. RENEWAL/EXPIRATION – The LESSOR shall have the option to renew this contract by
giving the LESSEE a written notice starting therein the new rental rate at least sixty (60) days prior to
the expiration hereof; and the LESSEE must signify in writing his/her acceptance thereof at least
thirty (30) days prior to the expiration hereof;

In the event that no such notice is sent to the LESSEE or the latter fails to signify his/her
acceptance of the rental rate as required above, the same shall taken to mean that this contract shall
not be renewed anymore that the LESSEE should vacate the premises upon the expiration hereof
without need of any prior demand;

In the event that the LESSEE fails to vacate the premises upon the expiration hereof, the
LESSEE shall pay five (5) times the rental rate for everyday delay until to the recovery of damages
such as but premises have been fully vacated and properly turned over to the LESSOR without
prejudice not limited to opportunity or income loss.

7. PUBLIC UTILITIES – Monthly electricity shall be paid by the LESSOR but not more than
the normal usage of P12,000/month. In excess of P12,000/month will be shouldered by the LESSEE.
Monthly water shall Be divided into two, half of which shall be paid by LESSEE and the other half
shall be paid by the LESSOR but should not be more than ₱ _____ per month as this was the highest
water bill accumulated by LESSOR for the last 12 months. In excess of this amount will be
shouldered by LESSEE. Other utilities such as telecommunication, internet, etc., acquired by the
LESSEE shall be for the LESSEE’s expense.

8. LESSOR’S EXEMPTION FROM LIABILITY- The LESSOR shall not be liable for any
damages or inconvenience caused by or arising from the failure of the water supply and/or electric
current, or the breaking, leaking or running of any wash stand, water closet, cistern, tank or waste
pipe.

The LESSOR shall not also be liable for any damages, death or injury caused by or arising from
the acts or negligence of the LESSEES family members or employees, domestic servants and also
other persons with respect to the operation of any facilities and service within the leased premises.

In case the leased premises shall be partially or totally damaged by any cause independently of
the will of the LESSOR it could undertake repairs of constructions thereon without, in anyway,
becoming liable to the LESSEE for interruption of the lease.
9. SIGNAGES – LESSEE may for its own account, put signs or notices on the exterior walls of
the premises leased but only after getting the prior written approval of the LESSOR. LESSEE shall
not do such acts as may deface or injure the building or leased premises. Any injury or damage so
caused by LSESEE shall on demand be promptly repaired at his/her/it expense.

10. INFLAMMABLE OR EXPLOSIVE MATERIALS – LESSEE is absolutely prohibited


from depositing within or bringing into leased premises inflammable or explosive materials, unless
incidental to the business and its being understood that should he do so it would be at his sole risk;
LESSEE shall also be responsible of/or any damages with such violation hereof may cause LESSOR
and/or its other LESSEES and this is without prejudice to LESSOR’S right to eject LESSEE
immediately there from.

11. SUBLEASE- LESSEE shall not directly or indirectly sublease, assign or transfer in any way
his/her right of lease over the premises.

12. USE OF THE PREMISES – It is expressly stipulated and agreed upon between LESSOR
and LESSEES as part of consideration of this contract of lease that the leased premises shall be used
exclusively for purposes pertinent and related to the business which the LESSEE is engaged in at the
time of the execution hereof.

13. INSPECTION – LESSOR or his duly authorized representatives shall have the right to
inspect the leased premises at any reasonable time of the day without notice to the LESSEE.

14. TERMINATION/EXPIRATION – Immediately upon expiration of


termination/cancellation of this lease, LESSEE shall promptly surrender the premises in the
tenantable condition in which LESSEE received it from the LESSOR.

15. ALTERATIONS AND IMPROVEMENTS – The LESSEE shall not make any alteration
in the leased premises nor make any improvements without first obtaining the written consent of the
LESSOR.

Upon termination of the contract, all fixed improvements introduced by the LESSEE shall revert to
the benefit of the LESSOR without reimbursement whatsoever to the LESSEE; and

For the purpose of this provision, fixed improvements are such that they could not be removed
without causing damage to the premises would not be in the same condition in which the LESSEE
received them from the LESSOR.

16. IN CASE OF VIOLATION – In case of violation of any of the foregoing premises the
LESSOR shall have the right to eject the LESSEE from the premises and in case of court litigation
relative thereto, the LESSEE shall be liable for attorney’s fees equivalent to 25% of whatever would
be recovered by way of unpaid rentals and damages which shall in no case be less than P25,000.

In case of non-payment rentals, LESSOR shall have the right back to padlock the premises and
retain the stocks in inventory and all other objects belonging to the LESSEE. The LESSOR shall have
the right to appropriate the aforesaid stocks at their fair market value as payment for whatever is due
as rentals.

17. BINDING CONTRACT – The parties to this contract of lease hereby acknowledge that they
have read and understood the provisions of this AGREEMENT and hereby express their conformity
thereto. All covenants and stipulations herein stated shall be binding upon them as well as their heirs,
assigns and representatives.
IN WITNESS WHEREOF, the parties herein have hereunto signed this agreement
2017 this ___ day of _____________2018 at_____________, Philippines.

LESSEE: LESSOR:

STYLE ISLE THE SHOWROOM CO.

By:________________________________ By:_______________________________
ALYSSA NICOLE S. CAPISTRANO LOVELY ROSE G. DURIAN

By:________________________________ By:_______________________________
CHRISTINE JOYCE A. SALCEDO BERNADETH M. SALCEDO

By:_______________________________
MA. ELLINE CAYANAN

SIGNED IN THE PRESENCE OF:

_______________________ _________________________
ACKNOWLEDGEMENT

REPUBLIC OF THE PHILIPPINES)


QUEZON CITY ) S.S.

BEFORE ME, a Notary Public for and in Quezon City, Metro Manila, Philippines, personally
appeared the following persons exhibiting to me their sufficient identification:

NAME Valid and Sufficient Identification

Lovely Rose G. Durian TIN 260-948-754

Bernadeth M. Salcedo TIN 456-052-101

THE SHOWROOM CO. TIN 008-845-265-000

Allysa Nicole S. Capistrano Lic. No. N0217001563

Christine Joyce A. Salcedo Lic. No. N0317000839

Ma. Elline A. Cayanan BIR 720-977-367-000

Known to me and to me known to be the same persons who executed the foregoing
instrument and acknowledge to me that the same are their free voluntary act and deed.

I certify that the instrument above refers to a Contract of Lease consisting of Five (5) pages
including this page where the acknowledgement is signed by the parties and the instrumental
witnesses on each every page thereof.

WITNESS MY HAND AND SEAL this _____________ day of _____________,2018 at


Quezon City Philippines.

NOTARY PUBLIC

Doc. No. ____:


Page No. ____;
Book No. ____:
Series of 2018.