CONTRACT OF LEASE

KNOW ALL MEN BY THESE PRESENTS:

This CONTRACT OF LEASE is made and executed this _____ day of ________, 2020 by and between:

GPR FELISA REALTY CORPORATION, a corporation duly organized and existing under and by virtue of the laws of
the Republic of the Philippines, with principal address at represented herein by its President, MR. RENE P. ROY herein after
referred to as the LESSOR;

-AND-

    SOROSORO IBABA DEVELOPMENT COOPERATIVE (SIDC), a duly registered cooperative under the Cooperative
Development Authority and with business address at Sorosoro Ibaba, Batangas City represented by its Chief Executive Officer,
HON. RICO B. GERON hereinafter referred to as the LESSEE;

WITNESSETH;
WHEREAS, the LESSOR is the absolute owner of the land with an area of approximately FOUR HUNDRED NINETY FIVE (495)
square meters situated at ______________________________ covered by _______________________;

WHEREAS, the LESSOR agrees to lease-out the property to the LESSEE and the LESSEE is willing to lease the same;

WHEREAS, this agreement supersedes all prior or contemporaneous negotiations, commitments, agreements and writings
between the Lessor and Lessee or any of its affiliates with respect to the subject matter. All such other negotiations,
commitments, agreements and writings will have no further force or effect, and the parties to any such other negotiation,
commitment, agreement or writing will have no further rights or obligations thereunder;

NOW THEREFORE, for and in consideration of the foregoing premises, the LESSOR leases unto the LESSEE and the LESSEE
hereby accepts from the LESSOR the LEASED premises, subject to the following terms and conditions: 

1.PURPOSES:   That premises hereby leased shall be used exclusively by the LESSEE for SIDC Coopmart Extension /
Renovation only and shall not be diverted to other uses. It is hereby expressly agreed that if at any time the premises are used
for other purposes, the LESSOR shall have the right to rescind this contract without prejudice to its other rights under the law.

2. TERM:  This term of lease is for FIFTEEN (15) YEARS commencing on _________________ to __________________. Upon
its expiration, this lease will be renewed under such terms and conditions as be mutually agreed upon by both parties,  written
notice to renew the lease shall be served to the LESSOR not later than thirty (30) days prior to the expiry date of the period
herein agreed upon.

3. RENTAL RATE:   The monthly rental rate for the leased premises shall be SIXTY THOUSAND PESOS (₱60,000.00),
Philippine Currency, net of all taxes and deductions and which the total Monthly payment shall be remitted on or before the -
_____ day of the calendar month at Lessors Account, without need of demand. All rental payments shall be payable to the
LESSOR.
Escalation Rate on the 4th year until the 15th year on the rate of five (5%).
YEAR----
4th ---Php 63,000.00 8th –Php 76,576.89 12th – Php 93,288.05
5th ---Php 66,150.00 9th– Php 80,585.73 13th – Php 97,952.45
6th – Php 69, 457.50 10th– Php 84,615.01 14th – Php 102,850.07
7th – Php 72,930.38 11th Php 88,845.76 15th – Php 113,135.07

4. DEPOSIT:   That the LESSEE shall deposit to the LESSOR upon the issuance of Building Permit, THREE (3) months deposit
or an amount equivalent to the sum of ONE HUNDRED EIGHTY THOUSAND PESOS ONLY:(₱180,000.00), Philippine
Currency, net of all taxes and deductions, representing one(1) month advance rental and two (2) months security deposit. The
one (1) month advance rental shall not be applied against any rental in arrears but only to the last one (1) month of this Contract
of Lease. The two (2) months security deposits will serve as collateral security for the payment and faithful performance of all
obligation, such as electric bills, water bills, and for damages caused by the fault or negligence of the LESSEE under the
conditions or stipulations and covenants of contract.

5. DEFAULT PAYMENT:  In case of default or delay by the LESSEE in the payment of the rent, such as when the  checks are
dishonored, the LESSOR at its option may terminate this contract and eject the LESSEE. The LESSOR has the right to padlock
the premises when the LESSEE is in default of payment for two (2) months and may forfeit whatever rental deposit or advances
have been given by the LESSEE.

6. SUB-LEASE:   The LESSEE shall not directly or indirectly sublet/allow or permit the leased premises to be occupied in whole
or in part by any person, form or corporation and that the LESSEE may assign its rights hereunder to any other person or entity
and right of interest thereto or therein shall be conferred on or vested in anyone b
7. PUBLIC UTILITIES& OTHER FEES:  Lessee shall take charge on the application of utilities (water and electricity) and
responsible for all the monthly charges while the contract is enforced. Realty taxes on the land shall be for the account of the
lessor.

8.GENERAL MAINTENANCE, SANITATION, REPAIRS AND SAFETY. The cost of general maintenance and upkeep of the

Leased Property shall be for the account of the LESSEE. The LESSEE shall keep the Leased Property in a clean,
safe and sanitary condition and introduce all the needed repairs at all times. The LESSEE shall dispose all its garbage,
waste, and other pollutants in accordance with the rules promulgated by the national or local government. All major repairs
resulting from damages at the end of this agreement shall be for the account of the LESSEE.
In case of damage to the Leased Property or its appurtenances by fire, earthquake, volcanic eruption, war or any unforeseen
cause, the LESSEE shall give notice to the LESSOR within a reasonable time. In the event that the LESSEE through its own
fault or negligence or that of its employees, agents or representatives, damages the Leased Property,  and LESSEE fails to repair
the damage within a reasonable time, then the LESSEE shall be liable to the LESSOR for liquidated damages in an amount
equivalent to three (3) month rent without prejudice to such other amounts as may be due LESSOR under this Lease
Agreement and/or the law. Cooking is prohibited in the area.

9. FORCE MAJEURE:   If whole or any part of the leased premises shall be destroyed or damaged by fire, flood, lightning,
typhoon, earthquake, storm, riot or any other unforeseen disabling cause of acts of God, as to render the leased premises during
the term substantially unfit for use and occupation of the LESSEE, then this lease contract may be terminated without
compensation by the LESSOR or by the LESSEE by notice in writing to the other.

10. LESSOR'S RIGHT OF ENTRY:   The LESSOR or its authorized agent shall after giving due notice to the LESSEE shall have
the right to enter the premises in the presence of the LESSEE or its representative at any reasonable hour to examine the same
or make repairs therein or for the operation and maintenance of the building or to exhibit the leased premises to prospective
LESSEE, or for any other lawful purposes which it may deem necessary.

11. EXPIRATION OF LEASE: At the expiration of the term of this lease or cancellation thereof, as herein provided, the LESSEE
will promptly deliver to the LESSOR the leased premises with all corresponding keys and in as good and tenable condition as the
same is now, ordinary wear and tear expected devoid of all occupants, movable furniture, articles and effects of any kind.

12. TITLE. LESSOR covenants and agrees that upon LESSEE paying the rent and observing and performing all the terms,
covenants and conditions on LESSEE’s part to be observed and performed hereunder, that LESSEE may peaceably and quietly
have, hold, occupy and enjoy the Leased Premises in accordance with the terms of this Contract of Lease without hindrance or
molestation from LESSOR or any persons lawfully claiming through LESSOR.

LESSOR likewise warrants and represents, upon which warranty and representation LESSEE has relied in the
execution of this Lease Contract, and that the LESSOR is the owner of the LEASED PREMISES, in fee simple absolute, free and
clear of all encumbrances. LESSOR further warrants and covenants that this Lease is and shall be a first lien on the Leased
Premises; that LESSOR has full right and lawful authority to execute this Lease Contract for the term, in the manner, and upon
the conditions and provisions herein contained; that there is no legal impediment to the use of Leased Premises as set put
herein; that the Leased Premises are not subject to any easements, restrictions, zoning ordinance or similar governmental
regulations which prevent their use as set out herein; that the LEASED premises presently are zoned for the use contemplated
herein and throughout the term of this Lease may continue to be so used therefor by virtue of said zoning, the doctrine of “non-
conforming use” or the valid and binding decision of the appropriate authority.

The LESSOR shall furnish without expense to LESSEE, within thirty (30) days after written request therefor by the
LESSEE, a title report covering the LEASED premises showing the condition of the title as of the date of such certificate,
provided however, that LESSOR’s obligation hereunder shall be limited to the furnishing of only one (1) such title report.

13. CONFIDENTIALITY: It is understood and agreed that the terms and conditions of this Contact of Lease between Lessor and
Lessee shall remain confidential. Lessee and Lessor its officers, employees and representations’ shall not discuss their Lease
terms, rates and conditions with any third party unless authorized by or requested to do so by the parties in this contract. Any
breach of confidentiality by either Lessor or Lessee shall be deemed a material default hereunder and in which event this
contract of Lease may be cancelled at without prior notice demand.

14. JUDICIAL RELIEF:   Should any one of the parties herein be compelled to seek judicial relief against the other, the losing
party shall pay an amount of One Hundred (100) % of the amount clamed in the complaint as attorney's fees which shall in no
case be less than Php50,000.00 pesos in addition to other cost and damages which the said party may be entitled to under the
law.

IN WITNESS WHEREOF, the parties herein affixed their signatures on the date and place above written.

  ________________________ ______________________
RENE P. ROY HON.RICO B. GERON
LESSOR                                                  LESSEE
 Signed in the presence of:

______________________ ________________________
ROGELIO B. GANDOLLAS

ACKNOWLEDGEMENT

Republic of the Philippines )

City of _________________ ) S.S

BEFORE ME, personally came and appeared this ______ day of ____________, 2020:
 
   
Name                            CTC Number             Date/Place Issued
HON. RICO B. GERON 08460202 January 04, 2020/Batangas City
MR. RENE P. ROY _________ __________________________

Known to me and to me known to be the same persons who executed the foregoing instrument and acknowledged to me that the
same is their free and voluntary act and deed.
 
This instrument consisting of three (3) page/s, including the page on which this acknowledgement is written, has been signed on
each and every page thereof by the concerned parties and their witnesses, and sealed with my notarial seal.
 
WITNESS MY HAND AND SEAL, on the date and place first above written.
                                                                    

Notary Public

Doc. No._______;
Page No. ______;
Book No.______;
Series of 2020.