CONTRACT OF LEASE

KNOW ALL MEN BY THESE PRESENTS: This CONTRACT OF LEASE made and entered into by and between: SANUSI S. ANTANANI filipino, married with domicile at Don Toribio Street, Zamboanga City, represented in this act, hereinafter called LESSOR. - And SAJID L. HASIM a proprietor duly organized and existing under and by virtue of the laws of the Philippines, with domicile at Putik, Zamboanga City represented in this act, hereinafter called LESSEE; W I T N E S S E T H: WHEREREAS, the LESSEE has offered to lease Commercial Space at Don Toribio Street, Tetuan, Zamboanga City, which the LESSOR has accepted under terms and conditions hereinafter set forth: NOW, THEREFORE, for and in consideration of the foregoing premises, the parties hereto agree and covenant as follows; 1. PROPERTY LEASED : This Contact of lease shall cover: A) A commercial building situated along Don Toribio Street covered by a tax declaration number 000000000000000. 2. RENTAL FOR THE LEASED PREMISES: The monthly rental of the leased premises subject matter of this contract shall be pegged at P 5,000.00 per month with escalation after one (1) year. Payment of the rental however, shall be made in the following manner: 1. Upon signing of this agreement two (2) months rental or P 10,000.00 As security deposit. (Interest free). 2. Advance rental of one (1) month or P 5,000.00 3. Power and Utilities shall be metered. Rentals not paid on time shall earn interest of 3% per month. If the rental stipulated herein or any part thereof, at any time shall be in arrears or unpaid, or if the LESSEE shall at any time fall or neglect to perform or comply with any of the covenants, condition, agreements or restrictions stipulated, or if the LESSEE shall become bankrupt or insolvent or shall compound with its creditors, the LESSOR shall have the option of terminating this lease contract and the LESSEE shall vacate the leased premises of the LESSOR.

3. PERIOD OF LEASE: the term of this lease is one (1) year commencing from fifteen (15) days after effectivity of the leased premises to allow renovation period of fifteen (15) days. Should the lessee not finish the term, it shall be liable to pay the rental of the unfinished term. This contract may be renewed the expiration thereof under such terms and condition as may be mutually agreed upon the parties which shall be communicated by the interested party by giving notice of at least sixty (60) days before the expiration of the terms, otherwise this lease is deemed not renewed. The LESSEE will be allowed by the LESSOR to remain in possession of the leased premises, it is expressly understood and agreed that the lease shall be only on a month-to-month basis in the absence of the written agreement to the contrary and the relation of the parties hereto shall be governed by the rest of the items of this contract, insofar as they are applicable. 4. USE OF THE LEASED PREMISES; the leased premises shall be used by the lessee for his/her endeavor, and shall not be diverted to any other purposes, without prior consent with the LESSOR. If at any time during the period of this lease and without consent of the LESSOR the leased premises are used for another purpose, the LESSOR shall have the choice to a) cancel and terminate the contract, b) compel the LESSEE to stop the new activity or c) increase the rent. 5. The LESSEE shall at all times, cooperate with the lessors agent / representatives in LESSOR regular inspection of the lessees electrical load. Any violation hereof shall make the LESSEE liable to the LESSOR for damages which may result directly or indirectly there from and also amount to the breach of its obligation under this contract. 6. It is also understood that for any electrical installations and or repairs, the LESSEE shall engage only with the professional electricians. It is also understood that should the need for the services of such professional electricians be required, the lessee shall request the LESSOR, in writing, for list of the accredited electricians. 7. The LESSEE shall not use or permit the use of any portion of the leased premises for sleeping/dwelling, overnight stay-in, or as a lodging room. Likewise the lessee shall not use or permit the use of the leased premises or any portion thereof for any illegal purposes. 8. RENOVATIONS, PERMANENT IMPROVEMENTS, ORDINARY AND MAJOR REPAIRS: 1. The LESSEE shall have the option to renovate the leased area according to approved plans and specifications. 2. In the course of the renovation, materials to be removed from the existing building unusable by the LESSEE shall be turned over to the authorized representative of the LESSOR. 3. That the parties agree that all permanent immovable improvements or alterations of whatever nature as may be made thereon shall form an integral part of the leased premises and shall not be removed there from but shall belong to and become the exclusive property of the LESSOR, without any right on the part of LESSEE to the reimbursement of the cost or value hereof. 4. That the LESSEE agrees to make at its expense the repairs and adjustments necessary to keep the premises therein leased in proper condition, to make the premises suitable to their needs and purposes, to keep the same in good and sanitary condition and in accordance with law, ordinances, rules and regulations of the government and its dependencies. 5. For the major alteration and repair, the written consent of the LESSOR must be secured, and they shall be at the expense of the LESSEE without any right on its part to ask for reimbursement thereof. Provided, further, that any damage

cause to the LEASED premises like the breakage of the walls therein arising from the acts of the LESSEE or their employees or third person or for whatever cause shall be repaired and or replaced by the LESSEE with no right of reimbursement from the LESSOR for the expense incurred by the LESSEE in making such repairs or replacement. 9. PROHIBITION AGAINST SUB-LEASE: The LESSEE shall not assign this lease agreement or sub-let the whole or part of the leased premises without the written consent of the LESSOR first being obtained. 10. FAILURE TO PAY RENTAL: ABANDONMENT: If the leased premises is deserted and or abandoned by the LESSEE or the latter fails to pay the rental for two (2) consecutive months before the expiration of this contract, the LESSOR shall have the right to enter the leased premises, either by force or otherwise, without being liable to person and without prejudice to the right LESSOR to collect from the LESSEE the payment of the accrued unpaid rental and the full amount of the rental covering the entire unexpired portion of the lease as liquidated dames. 11. Inspection by lessor of the leased premises: the lessor and or its authorized representative shall have the right to enter the leased premises during office hours to inspect the same. 12. INDEMNIFICATION OF LESSOR BY THE LESSEE: The LESSEE shall hold harmless the LESSOR against any and all action, suit, damages and claims that may be brought against the LESSOR by reason of the renovation to be made or violation of the LESSEE of application laws, ordinances, rules and regulation of government and or breach of contract or agreement which the LESSEE may have with third parties in relation to the operation of his business, use, care and maintenance of the premises under lease. 13. LESSORS LIEN: The LESSOR is hereby expressly authorized by the lessee to retain and hold the office furniture, equipment, machinery and stocks in trade owned by the said LESSEE situated in the leased premises, or so much thereof as may be sufficient to cover the unpaid account of the LESSEE to the LESSOR, and the said right of retention shall continue until full settlement of the LESSEES unpaid accounts. Provided, that these accounts should not be contested by the LESSEE for same reason. 14. EXCLUSIVENESS OF THE AGREEMENT: this lease agreement supersedes and renders void any and all agreements and understanding, oral and or written, previously entered into between parties covering the party herein leased, the same having been merged herein. This agreement may not be modified or altered except by instrument in writing signed by the parties on their representatives. 15. EXPIRATION OF THE LEASE: Upon the expiration of this contract or violation by the LESSEE of the terms hereof, the LESSEE agrees, with prejudice to each other obligations, to surrender or yield quietly and peaceably the premises to the LESSOR, and deliver the same in good order and condition, obsolescence expected with all the improvements existing thereon and those which may have been made therein including plumbing, electrical fixtures including the bulbs and those ceiling electrical fans attached to the building or could be removed without damaging the original condition of the building, for the benefit of the LESSOR without any need to reimburse or compensate the LESSEE for the value thereof.

16. VIOLATION OF THE CONTRACT: The failure of the LESSEE to strictly comply with the terms and condition of this lease shall give the LESSOR the right to

terminate and or cancel this contract, in which case, the deposits made herein shall be refunded, however, the LESSOR shall deduct the corresponding amount that the Lessee may be liable to pay and shall surrender the leased premises in accordance with paragraph 10 hereof. 17. Failure of the LESSOR to insist in one or more instances upon strict compliance with any of the covenants of this lease or exercise any option herein contained shall not be construed as abandonment or cancellation of such covenant or option but the same shall continue in full force and effect. 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 hereto have set their hands on this day of___________________, 2012, at Zamboanga City, Philippines.

Lessee By: Sajid L. Hasim By:

Lessor

Sanusi S. Antanani Sign in the presence of:

_____________________

____________________

NOTARIAL ACKNOWLEDEMENT REPUBLIC OF THE PHILIPPINES) CITY OF ZAMBOANGA------------) SS. BEFORE ME, a Notary Public in the City of Zamboanga, Philippines, this ________ day of ___________________, 2012, personally appeared -

Name: Sanusi S. Antanani Sajid L. Hasim

Comm. Tax Cert. No. CTC# 34888274 CTC# 34996685

Date & Place of Issue Jan. 1, 2012 Tetuan April 12, 2012 Tetuan

Known to me and to me known to be the same persons who executed the foregoing instrument and they acknowledge to me that they signed out the same as their free and voluntary act and deed of the corporations herein represented.

WITNESS MY HAND SEAL. Doc. No. __________; Page. No. __________; Book. No.__________; Series of 2010