CONTRACT OF LEASE

KNOW ALL MEN BY THESE PRESENTS:

This Contract of Lease made and entered into this DECEMBER

2019 by and between:

EL REYNO HOMES INCORPORATED, a domestic

corporation duly organized and incorporated under the laws of the
Philippines with its Principal Office at Third Floor, V.V. Soliven
Building, Greenhills, EDSA, San Juan City, Metro Manila, Philippines
represented by its president, ARCH. FERDINAND SOLIVEN,
hereinafter referred to as the LESSOR;

-and-

Mr. JUAN MIGUEL GELLADA REYES, of legal age,

Filipino, single and a resident of #56 20 th Avenue, Cubao, Quezon
City, hereinafter referred to as the LESSEE;

WITNESSETH That:

That for and in consideration of the terms and conditions

agreed upon by the LESSOR and the LESSEE, the parties have both
agreed to a CONTRACT OF LEASE of a PORTION of a certain parcel
of land situated in Barangay Jesus Dela Pena, City of Marikina, Metro
Manila, namely:

A portion of Lot 5, Pcs-00-012367 and a portion of Lot

6, Pcs-00-12367, with a total area of TWO HUNDRED
FORTY (240) SQUARE METERS, as delineated in the
sketch plan attached to this Contract of Lease and
hereinafter made a part of this Contract as ANNEX A;

WHEREAS, the Lessor desires to lease out the afore-described

property in favor of LESSEE and the LESSEE accepts the lease
subject to the terms and conditions herein set forth.
 NOW THEREFORE, for and consideration of the terms and
condition mutually agreed upon by the parties, the LESSOR hereby
LEASES unto the LESSEE, his heirs, successors-in-interest and
assigns, the above-described parcel of land subject ot the following
terms and conditions, to wit:

1. That the term of this lease shall be for a period of 1 year to

commence upon the signing of this Contract and shall be
renewable for another year at the option of the LESSOR;

2. That the monthly rental on the leased premises above-

mentioned shall be THIRTY THOUSAND (P30,000.00),
Philippine currency. The rentals shall be paid by the LESSEE to
the LESSOR on a monthly basis payable on or before the fifth
day of every month;

3. That upon the signing of this contract, the LESSEE agrees to

pay advanced rentals for TWO (2) months, as a security deposit
to answer for any and all damages that the property may suffer
while under the possession of the lessee, upon inspection of the
LESSOR;

4. Water, electrical and all improvements shall be for the account

of the LESSEE.

5. After the expiration of the leased period the lessee shall at his
own expense dismantle any improvements on the property.

6. That the improvements introduced on the property shall not be

a hindrance or detrimental to the neighborhood or other
residents of the subdivision (Windsor Place which is a first
class) upper middle class subdivision.

7. It is expressly agree by the parties herein that any fixed

improvements or renovations that will be introduced in that
subject stall shall become the property of the LESSOR after the
expiration of the term of this Contract, without right to
reimbursement to the lessee of the cost or value thereof.

8. That there shall be a TWENTY THOUSAND PESO (PHP

20,000) deposit made by the LESSEE for the account of any
 unpaid utilities such as electricity and water, refundable one
month after the termination of the lease agreement, subject to
the balance, if any, of utilities chargeable to the account of the
LESSEE;

9. That any pre-termination of the lease agreement shall forfeit

any and all deposits of the LESSEE in favor of the LESSOR as a
pre-termination fee for the opportunity cost of the LESSOR on
the subject property;

10. That the lessee shall have no right to sublease the above
premises without the written consent of the lessor;

11. That all ordinary expenses, such as but not limited to those
required by the wear and tear due to the natural use of the
property and are indispensable to its preservation, incurred or
that may arise in the daily use of the toilet facilities and sewers
in the premises shall be for the account of the lessee;

IN WITNESS WHEREOF, the parties have hereunto affixed

their signatures.

VICTORIO FERDINAND R. SOLIVEN JUAN MIGUEL GELLADA REYES

AS REPRESENTATIVE OF LESSEE
EL REYNO HOMES INC.,
LESSOR

SIGNED IN THE PRESENCE OF:

_________________________ _______________________