CONTRACT OF LEASE

KNOW ALL MEN BY THESE PRESENTS:

This contract of Lease (the “Contract”) is entered into by and between:
Renato P. Maliwat, of legal age, Filipino Citizen with residence and
postal address at Arayat, Pampanga (hereinafter called the
“LESSOR”),
- and -
Ms. Nimfa E. Timbol, with residence and postal address at Suclayin,
Arayat, Pampanga (hereinafter called the “LESSEE”).

WITNESSETH THAT:
WHEREAS, the LESSOR is the registered owner of the lot covered by
TCT No. 522853-R located in Barangay San Agustin Norte, Arayat, Pampanga
(the “Leased Properties”):
WHEREAS, the LESSEE has offered to lease the Leased Properties from
the LESSOR, and the LESSOR has agreed to lease the same to the LESSEE.
NOW, THEREFORE, for and in consideration of the foregoing premises
and the mutual covenants herein contained, the LESSOR has, by this
instrument, delivered by way of lease unto the LESSEE, the Leased Properties,
and the LESSEE hereby accepts the same, subject to the following terms and
conditions:

ARTICLE I PROPERTIES FOR LEASE

1. The LESSOR conveys by way of LEASE in favor of the LESSEE the

Leased Properties specifically described as follows:
2. Inspection; No Warranty. The LESSOR leases the Leased Properties
to the LESSEE on an “as is, where is” basis. The LESSEE hereby declares that
it has inspected the Leased Properties prior to the execution of the Lease
Agreement, and acknowledges that it is fully satisfied with the conditions
thereof. The LESSOR makes no warranty as to the condition, operational or
structural capability, or as to any hidden defects of the Property which the
LESSEE warrants to know by virtue of the LESSEE’s duty to inspect.

ARTICLE II CONSIDERATION

1. Rental Payment and Escalation Clause. In consideration of the lease

of the Leased Properties, the LESSEE shall pay a rental fee of Twenty
Thousand Pesos (PhP20,000.00), inclusive of Value Added Tax (VAT) and
subject to the applicable withholding tax rate, within the first five (5) days of
each calendar month. In addition, the monthly rental fee shall escalate by five
percent (5%) of the base monthly rent every two (2) years starting on the
third (3rd) year and every two (2) years thereafter until the termination of the
contract, the base rent is understood to be the monthly rent applicable for the
said year as opposed to the original rent provided above. A table for monthly
rental covering the entire term of the lease is provided below as a guide for
both the LESSOR and the LESSEE.

PERIOD MONTHLY RENTAL

1st Year to 2nd Year PhP20,000.00
3rd Year to 4th Year PhP21,000.00
5th Year to 6th Year PhP22,050.00
7th Year to 8th Year PhP23,153.50
9th Year to 10th Year Php24,310.13

2. Additional Increase of Rental Fee for Other Consideration. Should the

LESSEE decide to utilize a portion of the Leased Properties by constructing a
permanent structure, the LESSEE hereby undertakes to pay additional Ten
Thousand Pesos (Php10,000.00) which is on top of the rental fee of Twenty
Thousand Pesos (PhP20,000.00) referred to in the foregoing paragraph. A
portion of the Leased Properties is understood to exclude the lot where the
Labellash & Brows Clinic currently sits. For the purpose of this contract, a
permanent structure refers to a building fixed to or adhered to the ground by
concrete or cement and cannot be moved from one place to another.
Deposit. That the LESSEE shall deposit to the LESSOR upon signing of
this contract and prior to move-in an amount equivalent to the rent for Three
(3) months or the sum of __________ (PHP ____), wherein the two (2)
months deposit shall be applied as rent for the 11th and 12th months and the
remaining one (1) month deposit shall answer partially for damages and any
other obligations.

ARTICLE III TERM OF THE LEASE

1. Term. Unless earlier terminated for the reasons specified herein, the
term of this Lease Agreement shall be for Ten (10) years to start on
______________ and end at noontime on ______________. The CONTRACT
may be renewed for another five (5) years at the option of the LESSEE. For
this purpose, LESSEE undertakes to inform the LESSOR of its intention to
renew the LEASE Agreement within 60 days before the lapse of the five (5)
year period or of any subsequent renewal/s thereof.

ARTICLE IV PURPOSE OF THE LEASE

1. Use of the Leased Properties. The LESSEE shall use the Leased
Properties strictly and exclusively for the establishment and operation of
Aesthetic and Wellness Clinic, Restaurant, Coffee Shop, and other related
businesses. If the Leased Properties are used for other purposes, the LESSOR
has the choice to:
(1) Rescind the Lease Agreement provided that the notification
effecting the same must be communicated to the LESSEE at least
three (3) months before the effectivity date of the said rescission;
(2) Increase the rent subject to the concurrence of the LESSEE;
(3) Compel the LESSEE to stop the new activities;
In no case shall the Leased Properties be used for immoral or illicit
purposes and illegal acts or purposes.
ARTICLE V DEFAULT

Default; Interest Payment. In the event the LESSEE fails to pay its
monthly rent within the first five (5) days of each month, the LESSOR shall
charge interest on the monthly rent at the rate of Ten Percent (10%) per
month, which shall be compounded until full payment is made.

ARTICLE VI CANCELLATION

Grounds for Cancellation. The LESSOR may cancel or terminate this

Lease Agreement, upon the happening of any of the following events:
(1) The LESSEE fails to pay its monthly rent for three (3) consecutive
months;
(2) The LESSEE uses the Leased Properties for purposes other than
those specified herein, without prejudice to the options available to LESSOR
under Section 1, Article IV hereof.
(3) The LESSEE violates any of the other terms and conditions of this
Lease Agreement or fails to get the necessary permits from the national
and/or local government units/agencies.

ARTICLE VII REPAIRS AND MAINTENANCE

The LESSEE shall keep and maintain the Leased Properties in good,
tenantable, and sanitary condition and shall be responsible for any damages,
degradation or deterioration suffered by the Leased Properties and undertake
to repair, restore, and correct any such damage within a reasonable time from
its knowledge or notice of the same.
The LESSEE shall be solely and exclusively liable for any act, omission,
fault or negligence by the LESSEE, its representatives (including contractors
and employees) arising from, related to, or incidental to any repair and
maintenance activities, including any damage or injury suffered by the
LESSOR, the adjacent properties, or any third party.

ARTICLE VIII SALE, TRANSFER & MORTGAGE

The LESSOR reserves the right to mortgage, sell, or otherwise dispose

of the LEASED PROPERTIES. LESSOR hereby agrees that in the event that
such sale of the LEASED PROPERTIES occurs, the conditions embodied in this
Contract shall be respected and honored by the new owner. This is without
prejudice to the right of first refusal granted to the LESSEE.

ARTICLE IX RIGHT OF FIRST REFUSAL

The LESSOR is under a legal duty to the lessee not to sell to anybody
the Leased Properties at any price until after he has made an offer to sell to
the LESSEE at a certain price and the LESSEE has failed to accept it. The
LESSEE has a right that the LESSOR’s first offer shall be in his favor.
ARTICLE X MISCELLANEOUS
1. Improvements/ Construction. Any improvement or construction made
by the LESSEE on the Leased Properties shall be governed by law.
2. Utilities. All expenses for water, electricity, telephone, sanitation,
sewerage, gas and other public utility services shall be for the account of the
LESSEE. The cost of installation and utilities within the Leased Properties, such
as water and electricity, shall be for the account of the LESSEE.
3. Care of Leased Properties. The LESSEE shall, at its own expense,
maintain the Leased Properties in a clean and sanitary condition free from
noxious odors, disturbing noises or other nuisances. The LESSEE, its
employees, agents or representatives shall not in any manner damage or
deface any part of the Leased Properties.
The LESSEE shall comply with any reasonable rules and safety
regulations which may be promulgated from time to time by the LESSOR,
together with all the rules, regulations, ordinances or laws made by the duly
constituted authorities; either by the National or Local government or any of
its agencies and instrumentalities, arising from or regarding the use,
occupancy and sanitation of the Leased Properties.
4. General Maintenance, Sanitation, Repairs and Safety. The cost of the
general maintenance and upkeep of the Leased Properties shall be for the
account of the LESSEE. The LESSEE shall keep the Leased Properties 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.
5. Inspection of Premises. The LESSOR reserves the right to enter and
inspect the Leased Properties at reasonable times during business hours and
with prior notice. Said notice shall be made at least 5 days before the date of
the inspection. The LESSEE agrees to cooperate with the LESSOR in keeping
the Leased Properties in good and tenantable condition.
6. Assignment. – Subject to the right of first refusal of the LESSEE, the
LESSOR may assign, transfer or encumber any of its rights and interests under
this Lease Agreement to any entity. In the event of such assignment of
transfer, the rights and interest of the LESSEE under this Lease Agreement
shall be respected and observed in its entirety by such assignee, transferee,
or mortgagee, and for the entire term hereof unless mutually agreed upon by
the parties including the LESSEE.
7. Return of Property. Upon the termination of this Lease Agreement for
any reason whatsoever, the LESSEE shall peacefully and immediately vacate
the Leased Properties and return possession thereof to the LESSOR in good
and tenantable condition, devoid of occupants, equipment and effects of any
kind. Failure of the LESSEE to return the Leased Properties as provided herein
shall make it liable to pay liquidated damages to the LESSOR in an amount
equivalent to three (3) months’ rent without prejudice to such other amounts
as may be due the LESSOR and/or such other remedies available to the
LESSOR under this Lease Agreement and/or under the law.
8. Transfer of Rights. The LESSEE shall not assign, or transfer or
encumber its rights under this lease without the prior written consent of the
LESSOR and no right, title or interest thereto or therein shall be conferred on
or vested in any other party other than the LESSEE without such written
consent.
9. Indemnity. The LESSEE shall hold LESSOR free and harmless from
any loss, damage, injury suffered by the LESSEE, its agents or employees,
clients, guests or customers, or other third person arising out of the use of
the Leased Properties by the LESSEE, its agents, employees, clients, guests,
or customers including but not limited to, claims for property damage,
personal injury or wrongful death, or losses or damages occasioned or by
reason of any event or cause which could not be foreseen, or which though
foreseen, were inevitable such as but not limited to fire, earthquake, lightning,
typhoons, flood, volcanic eruption, robbery theft or other crimes.
10. Non-waiver. The failure of the LESSOR to insists upon a strict
performance of any of the terms, conditions and covenants hereof shall not
be deemed a relinquishment or waiver of any of the rights or remedies that
the LESSOR may have, nor shall it be construed as a waiver of any subsequent
breach or default of its terms, conditions and covenants which shall continue
to be in full force and effect. No waiver by the LESSOR of its rights under this
Lease Agreement shall be deemed to have been made unless expressed in
writing and signed by the LESSOR.

IN WITNESS WHEREOF, the parties have set their hands and affixed
their signatures this __________ in the Municipality of ______________,
Philippines.

Renato P. Maliwat
(LESSOR)

Nimfa E. Timbol
(LESSEE)

Signed in the presence of:

_____________________ _______________________
 ACKNOWLEDGMENT

Republic of the Philippines)

City of _________________) S.S.

BEFORE ME, a Notary Public, for and in the City of _________________, this
___ day of _______ 2022 personally appeared:

Name Government Issued ID

Issued on/Expiry Date

known to me and to me known to be the same persons who executed this

___________________________________ and they acknowledged to me
that the same is their free and voluntary act and deed this instrument
consisting of _________________ pages, including this acknowledgment has
been signed on each and every page by the parties and their witnesses.

WITNESS MY HAND AND SEAL this _____ day of

_________________, 2022, in _______________________, Philippines.

Doc. No. ____;

Page No. ____;
Book No. ____;
Series of 2022.