OPTION AGREEMENT

KNOW ALL MEN BY THESE PRESENTS:

This AGREEMENT, made and entered into by and between:
The Heirs of the Late Mr. Jose B. MontillaJr.- namely Joselena M. Flores, Susan M.
Araneta, Jody L. Montilla, Jose L. Montilla IIIand Carmelita M. Ybanezrepresented herein by Mr. Jody L. Montilla, Filipino, married, of legal age with
principal address atBlk. 17 Bata Subdivision, Bacolod City, hereinafter referred
to as the LESSOR;
-

and -

NEGROS PH SOLAR INC (SPV), a corporation duly organized and existing in

accordance with law, with principal office at UG10, Globe Tower 1, Pioneer St,
Corner. Madison, Barangay Ilaya, Mandaluyong City, Philippines; represented
herein by its President, Maria Celia Ramona S. Monfort, hereinafter referred to as
the LESSEE;
WITNESSETH: That
WHEREAS, the LESSOR is the true and absolute owner ofthat property covered
by Transfer Certificate of Title No.
T-31764 and T-288610
, a copy of
which marked Annex A is attached hereto and made an integral part hereof;
WHEREAS, the LESSOR has offered and the LESSEE has agreed to an option to
lease the aforementioned subject property;
NOW, THEREFORE, for and in consideration of the foregoing premises, the
parties hereby agree as follows:
ARTICLE I.TERM OF LEASE OPTION
This Option Agreement shall be for a period ofsix (6) months, from the date of
this agreement and extendable for another six (6) monthsin accordance with the
terms on this agreement.;
ARTICLE II.OPTION PERIOD
Upon signing of this OptionAgreement, the LESSOR shall provide the LESSEE an
initial six (6) months option period within which to conduct a feasibility study
and complete the development work on the subject property, consisting of
actual survey and testing of the soil and technical studies of its potential and
viability for its solar electric power generation project. The LESSOR further
agrees to allow the LESSEE to extend the option for another six (6) months after
the expiry of the first six (6) month option period, at the LESSEEs discretion.
The LESSEE shall provide a written notice fourteen (14) days before the expiry
of the first six (6) month of the extension. The LESSEE will provide regular
updates to the LESSOR on the project progress.
An option fee of PHP Fifty Thousand (P 50,000.00)shall be paid during
thefirst six month option period. This option fee shall be paid within seven (7)
working days after the signing of thisOption Agreement. Where an additional six
(6) months extension to the Option period, is required, an additional option feeof
PHP Fifty Thousand (P 50,000.00)shall be paid prior to the commencement
of the additional Option period.
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During the Option period(s) above-referred to, the LESSEE shall have the option
anytime, with notice and discussion in good faithwith the LESSOR, not to
continue with the Lease Agreement, should it turn out that, based on the
feasibility studies made, its solar electric power generating project to be
installed in the premises would not be feasible and/or advantageous without any
obligation to the LESSOR for any other compensation for the use of the land,
apart from the option fee referred to above during its trial period;
Should the LESSEE decide to continue with the Lease Contract by the end of the
option period(s), the LESSOR shall enter into a twenty-five (25) year lease
agreement and the parties may discuss a possible extension. The LESSEE shall
give a fourteen (14) day written notice prior to the end of the relevant Option
period of the intention to lease and the parties agree to work in good faith to
negotiate and sign a lease agreement within thirty (30) days of such notice.
This lease agreement would include clauses that may require additional
discussion and clarification. The parties agree that with respect to all the
commercial terms of the lease, including but not limited to the amount, term
and payment have been agreed and shall be incorporated as follows :
ARTICLE III.AGREED LEASE TERMS TO BE INCORPORATED INTO THE
LEASE AGREEMENT
A. RENTAL AMOUNT AND EFFECTIVITY- The annual rental for the leased
property shall be FIFTY THOUSAND PESOS (P50,000.00) per hectare per
year, with an escalation clause at the rate of TEN PERCENT (10%) every
five (5) years. Rental is payable FIVE (5) years in advance upon signing of
the lease agreement by both parties. This advance rental shall be
amortized on a straight-line basis over the first TEN (10) years- that is,
rental payments for the 2nd to the 10th year will be equally deducted by the
amount equivalent to the amortization of the four (4) years rental paid in
advance since one year rental covers for the first year of lease. Moreover,
escalation of 10% takes effect on the 6 th, 11th, 16th, 21st year of lease
accordingly.
On the 11th year of lease, another FIVE (5) years of rental shall be paid in
advance and likewise this advanced rental payment will be amortized over
the next TEN (10) years (11th-20th year of lease) in a similar manner as the
first 5-year advanced rental payment. The last five (5) years of lease shall
be paid on a regular yearly basis.
B. RENTAL PERIOD - The lease term will be for a period of twenty-five (25)
years. The parties, if they so desire, may engage in discussions for an
extension and negotiate in good faith for the new rental terms. The parties
shall hold these negotiations at least one (1) year prior to the expiry date.
The LESSEE will handover the premises to the LESSOR clear from any
structures or other impediments at the end of the lease term.
C. COMPENSATION FOR CULTIVATION COSTS - When the LESSEE has
decided to continue with the lease during the first six month option
periodthe LESSOR shall be duly compensated for whatever costs incurred
in the cultivation on the leased property, the value to be determined
through the submission by the LESSEE of the proper receipts and/or
documentations to enable a proper audit of the costs and/or value of the
same;
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When the LESSEE has decided to continue with the lease during the
second six month option period, the LESSOR shall be duly compensated
for whatever costs incurred in the cultivation on the leased property, the
value to be determined through the submission by the LESSEE of the
proper receipts and/or documentations to enable a proper audit of the
costs and/or value of the same if the farm has not been closed, i.e. all
necessary cultivation and material inputs have been planted and no more
raw materials are needed ;
If the farm has been closed, the compensation shall be the loss of profits
from the crop if it had been allowed to mature and be harvested in the
normal course of the farming cycle. The parties agree to discuss in good
faith making reference to current commodity prices to arrive at an agreed
amount.
D. CLEAN POSESSION The LESSOR shall allow the LESSEE to take over the
possession and occupancy of the leased premises in a timely manner and
with the land clearedand after removing structures or other impediments
to allow for a timely project construction start. The parties shall discuss in
good faith and agree on the timeline of such activities such that the
construction of the plant is not delayed;

E. TAXES
i) Real Estate and Value Added Tax The LESSEE shall be liable for any
real estate taxes and Value Added Tax which shall be assessed on the leased
premises and/or on the LESSOR by virtue of the LeaseAgreement, during the
lease agreement.
The LESSOR shall deliver to the LESSEE a copy of any real estate taxes
assessments due on the leased premises and/or any assessments of Value
Added Taxes imposed. The LESSEE shall make payment to the relevant tax
collecting agency within a period of five (5) days before said taxes may
become initially due, together with any interests and penalties lawfully
imposed thereon as a result of LESSEEs late payment thereof, provided that
LESSEE is in receipt of said tax assessments within 45 days of due date. The
LESSEE shall furnish copies of the corresponding real estate tax / ValueAdded Tax payments to the LESSOR. In case the LESSOR has already paid
the applicable tax in advance particularly in the first year of lease, the
LESSEE shall reimburse the LESSOR after submission of necessary proof of
payment made by the latter;
The LESSEE may take the benefit of any law allowing assessments to be paid
in installments and in such event the LESSEE shall only be liable for such
installments of assessments due during the term of the Lease hereof.
Nothing, however, contained in this Lease shall require the LESSEE to pay an
estate, inheritance, succession, capital levy, corporate franchise, gross
receipts, transfer or income tax of the LESSOR.
ii) Contest of Taxes The LESSEE, at its own cost and expense, may, if it
shall in good faith so desire, contest by appropriate proceedings the amount
of any of the aforementioned taxes. The LESSEE may, if it shall so desire,
endeavor at any time or times, by appropriate proceedings, to obtain a
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reduction in the assessed valuation of the Leased Premises for tax purposes.
In any such event, the LESSOR shall join with the LESSEE, at the latters
expense in said proceedings and the LESSOR agrees to sign and deliver such
papers and instruments as may be necessary to prosecute such proceedings.
F. CONSTRUCTION AND COMPLETION
i) Improvements by Lessee. LESSEE shall obtain all necessary certificates,
permits, licenses and other authorizations of governmental bodies or
authorities which are necessary to permit the construction of the solar plant
on the leased premises and shall keep the same in full force and effect at
LESSEEs cost.
Upon completion of construction, LESSEE shall, at its cost, obtain an
occupancy, use and operation permits and all other permits or licenses
necessary for the occupancy, use and operation of the solar plant of the
same as set out herein and shall keep the same in force.
Nothing herein shall alter the intent of the parties that LESSEE shall be fully
and completely responsible for all aspects pertaining to the construction of
the solar plant on the leased premises and for the payment of all costs
associated therewith. LESSOR shall be under no duty to investigate or verify
LESSEEs compliance with the provision herein.
Moreover, neither LESSEE nor any third party may construe the permission
granted to the LESSEE hereunder to create any responsibility on the part of
the LESSOR to pay for any improvements, alterations or repairs incurred by
the LESSEE.
ii) Utilities- LESSEE shall pay for all water, sanitation, sewer, electricity,
light, heat, gas, power, fuel, janitorial, and other services incident to the
LESSEEs use of the leased premises.

G. PERMITS AND EXPENSES - Each party agrees that it will procure all
necessary permits for making any improvements in the leased premises,
when applicable.
LESSEE further agrees to hold harmless the LESSOR from and against any
and all injury, loss, claims or damage to any person or property
occasioned by or arising out of the doing of any such work by such party
or its employees, agents or contractors. LESSEE shall further comply with
all governmental requirements in the construction of its installations on
the leased premises. LESSEE will take out adequate insurance coverage;
The LESSEE agrees that if government agencies shall condemn the
installations or improvements in the leased premises or any part thereof
as not in conformity with the laws and regulations relating to the
construction thereof, and such government agency has ordered or
required, or shall hereafter order or require, any alterations or repairs
thereof or installations and repairs as may be necessary to comply with
such laws, orders or requirements the validity of which the LESSEE shall
be entitled to contest the same to be corrected or repaired;

H. LESSEES COVENANTS- LESSEE covenants and agrees to procure any

licenses and permits required for any use made of the leased premises by
LESSEE, to abide by all governmental
codes, ordinances and laws
pertaining to labor, health and sanitation, and the environment
throughout the lease period; and upon the expiration or termination of this
Lease, to remove its goods and effects and those of all persons claiming
under it, and to yield up peaceably to LESSOR the leasedpremises.
I. INDEMNITY BY LESSEE - The LESSEE shall save the LESSOR harmless
and indemnify LESSOR from all injury, loss, claims or damage to any
person or property while on the leased premises, unless caused by the
willful acts or omissions or gross negligence of LESSOR, its employees,
agents, licensees or contractors.
J. USE OF PROPERTY BY LESSEE - The leased premises may be occupied
and used by LESSEE, exclusively as a commercial SOLAR ELECTRIC
POWER GENERATION PLANT and no other purpose unless explicitly agreed
with the LESSOR.Nothing herein shall give LESSEE the right to use the
property for any other purpose or to sublease, assign, or license the use of
the property to any sub-lessee, assignee, or licensee, which or who shall
use the property for any other use other than as a Solar Electric Power
Generation Plant unless explicitly agreed with the LESSOR;
I. SIGNAGE
i) Exterior Sign-LESSEE shall have the right, at its sole risk and expense
and in conformity with applicable laws and ordinances, to erect and
thereafter, to repair or replace, if it shall so elect signs on any portion of
the leased premises, providing that LESSEE shall remove any such signs
upon termination of this lease, and repair all damage occasioned thereby
to the leased premises.
ii) Interior Signs LESSEE shall have the right, at its sole risk and
expense and in conformity with applicable laws and ordinances, to erect,
maintain, place and install its usual and customary signs and fixtures in
the interior of the leased premises.
L. CONDEMNATION
i) TotalTaking The LESSEE may remove or demolish any and all
installations and improvements it had made on the leased premises upon
the expiration of this agreement.
ii) Release- In the event of any termination on this Lease as the result of
the provisions herein, the parties, effective as of such termination, shall
be released, each to the other, from all liability and obligations thereafter
arising under this lease.
iii) Lessees Early Termination If the event of an early termination by
the Lessee, the Lessor shall be entitled to the higher of a one-year rental
compensation or the forfeit the balance of the rental advance paid.
M. D E F A U L T
i) Occasions of Default by LESSEE The LESSEE shall be deemed in
Default in the event that:
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a. LESSEE shall be in default in the payment of rentals, compensation

or taxes or other charges herein required to be paid by it (default
herein being defined as payment received by LESSOR thirty [30] or
more days subsequent to the due date or shall otherwise fail to
comply with any of the provisions of the Lease Agreement;
ii) Remedies In Case of LESSEEs Default - In cases of Default, the
following remedies shall be available to the LESSOR:
a. Terminate this Lease by giving LESSEE notice of termination, in
which event this Lease shall expire and terminate on the date
specified in such notice of termination, with the same force and
effect as though the date so specified were the date herein
originally fixed as the termination date of the term of this Lease, and
all rights of LESSEE under this Lease and in and to the Premises
shall expire and terminate, and LESSEE shall remain liable for all
obligations under this Lease arising up to the date of such
termination, and LESSEE shall surrender the Premises to LESSOR on
the date specified in such notice.
b. Pursue such other remedies as are equitable at law or equity.

iii)
Occasions of Default by LESSOR The LESSOR shall be deemed
in Default in the event that:
a. LESSOR does not maintain proper title to the property and not
allowing the LESSEE to have trouble-free use of the land
iv) Remedies of LESSEE Upon LESSORs Default If LESSOR shall
default in the performance or observance of any agreement or condition
in this Lease contained on its part to be performed or observed, and if
LESSOR shall not cure such default within thirty (30) days after notice
from LESSEE specifying the default (or, if such default shall reasonably
take more than thirty [30] days to cure, and LESSOR shall not have
commenced the same within the thirty [30] days and diligently prosecuted
the same to completion), LESSEE may, at is option, without waiving any
claim for damages for breach of agreement, at any time thereafter cure
such default for the account of LESSOR and any amount paid or any
contractual liability incurred by LESSEE in so doing shall be deemed paid
or incurred for the account of LESSOR and LESSOR shall reimburse LESSEE
therefor and save LESSEE harmless therefrom. Provided, however, that
LESSEE may cure any such default as aforesaid prior to the expiration of
said waiting period, without notice to LESSOR if an emergency situation
exists, or after notice to LESSOR, if the curing of such default prior to the
expiration of said waiting period is reasonably necessary to protect the
leased premises or LESSEEs interest therein or to prevent injury or
damage to persons or property. If LESSOR shall fail to reimburse LESSEE
upon demand for any amount paid or liability incurred for the account of
LESSOR hereunder, said amounts or liability may be deducted by LESSEE
from the next or any succeeding payments of rent due hereunder;
provided, however, that should said amount or the liability therefor be
disputed by LESSOR, LESSOR may contest its liability or the amount
thereof, through arbitration and LESSOR shall bear the costs.
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N. T I T L E
i) Sale/Mortgage/Sub-Lease of Leased Premises - The LESSOR shall
not, during the term of this Lease Agreement, be allowed to sell or
mortgage the leased property except under the following conditions
a. In case of sale or assignment, the Lease Agreement and all its
provisions annotated at the back of Transfer Certificate attached in
ANNEX A, shall be duly respected and binding on the buyer and/or
the transferee. Provided that the LESSEE is not in default in the
performance of the terms of this Lease Agreement, if at anytime
during the duration of this agreement or any renewal thereof, the
LESSOR shall desire to accept a bona fide offer to purchase the
Leased Property, it shall immediately notify the LESSEE of the terms
said offer in writing, which shall have sixty (60) days within which to
match the terms of the offer by making the proper notification in
writing in which event the LESSOR shall sell the premises to the
LESSEE. If the LESSEE fails to exercise its option within the period
specified, then the LESSOR may sell the Leased Property to any
person provided that the parties therein shall respect, abide, include
and stipulate in the Deed of Absolute Sale the provisions that this
Lease Agreement shall remain in full force and effect and that the
buyer shall be strictly bound thereby and shall absorb all of
LESSORs rights and obligations enforceable under this Deed;
b. In case of mortgage, the LESSOR shall, upon consent of the LESSEE
being given in writing, be allowed to mortgage the leased property
on the following conditions:
1) That the LESSEE be informed in writing within 30 days of
LESSORs intent to mortgage the leased property to secure a loan
from any bank, lending institution or individual, with the LESSEE
giving its consent or refusal within the said period of thirty (30)
days.
2) The mortgagee shall at all times bind itself to respect and uphold
the terms and provisions of the Lease Agreement, which shall be
appended to and form part of the Real Estate Mortgage;
3) The mortgagee shall, in stepping into the shoes of the LESSOR,
first enter into a written agreement with the LESSEE that it shall,
at all times during the mortgage, bind itself to and respect the
terms and conditions of the Lease Agreement, specifically the
stipulations and covenants of the LESSOR;
4) The mortgagee or any person or entity claiming rights under it,
agrees that it shall recognize the rights o the LESSEE to remain in
possession and occupancy of the leased premises and that its
operation and business shall not be disturbed, so long as it does
not violate any of the terms and provisions of the Lease
Agreement;
5) In the event that LESSOR shall pay, refuse or neglect to pay any
mortgages, liens or encumbrances, the judicial or extra-judicial
sale of which might affect the interest of the LESSEE hereunder,
or shall fail, refuse or neglect to pay any interest, penalties or
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charges due or payable on any such mortgage, lien or

encumbrance, LESSEE may exercise its option to pay such
mortgages, liens or encumbrances, interests, penalties or
charges and charge to the LESSOR the amount so paid and
withheld and deduct the same from any rentals due and withhold
and deduct from any rents herein reserved such amounts so paid
and any excess over and above the amounts of said rents shall
be paid by the LESSOR to the LESSEE; Nothing herein contained
shall be construed as a waiver of the LESSEEs right to terminate
the Lease Agreement, should the LESSOR opt not to exercise this
option to pay LESSORs obligation under the mortgage.
6) The LESSEE shall have the first option to be the one to offer
financing to the LESSOR, for the same amount and terms and
conditions as the mortgagee bank, entity or private person,
should it discern that a mortgage of the leased premises will not
be in its best interests as LESSEE.
7) In the event of foreclosure of the mortgage, the LESSEE shall be
allowed to be subordinated to the rights of the LESSOR as
mortgagee, and exercise the rights to redeem the foreclosed
property, should LESSOR for any reason fail to exercise such
right.
8) The LESSEE shall have the absolute right to transfer and assign
this Lease Agreement or to sub-let all or any portion of the leased
premises or to cease operating its business on the leased
premises, provided that at the time of such assignment or sublease, the LESSEE is not in default in the performance and
observance of the conditions of the lease and provided further
that the conditions of the sub-lease shall be in accord with the
provisions of this contract.
ii) Quiet and Peaceful Enjoyment- The LESSOR warrants and agrees
that upon LESSEE paying the rent and observing and performing all of the
terms, covenants and conditions on LESSEEs 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
Lease without hindrance or molestation from LESSOR or any persons
lawfully claiming through LESSOR.
iii) Zoning and Good Title LESSOR warrants and represents, upon
which warranty and representation LESSEE has relied in the execution of
this Lease, that LESSOR is the owner of the leased premises, in fee simple
absolute, free and clear of all encumbrances, except for the easements,
covenants and restrictions of record as of the date of this Lease. Such
exceptions shall not impede or interfere with the quiet use and enjoyment
of the leased premises by LESSEE.
LESSOR further warrants and
covenants that this Lease is and shall be a first lien on the leased
premises, and to such encumbrances as shall be caused by the acts or
omissions of LESSOR; that LESSOR has full right and lawful authority to
execute this Lease for the term, in the manner, and upon the conditions
and provisions herein contained; that there is no legal impediment to the
use of the leased premises as set out herein; that the leased premises are
not subject to any easements, restrictions, zoning ordinances 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, under the doctrine of non-conforming use, or
valid and binding decision of appropriate authority, except, however, that
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said representation and warranty by Landlord shall not be applicable in

the event that LESSEEs act or omission shall invalidate the application of
said zoning, the doctrine of non-conforming use or the valid and binding
decision of the appropriate authority.
LESSOR shall furnish without
expense to LESSEE, within thirty (30) days after written request therefor
by LESSEE, a title report covering the leased premises showing the
condition of title as of the date of such certificate.
iv) Licenses- It shall be the LESSEEs responsibility to obtain any and all
necessary licenses and the LESSOR shall bear no responsibility therefor;
the LESSEE shall promptly notify LESSOR of the fact that it has obtained
the necessary licenses in order to prevent any detail to LESSEE in
commencing construction of the leased premises.
O. SETTLEMENT OF DISPUTES
- All disputes and/or controversies
regarding the provisions and terms of the Lease Agreement which cannot
be settled amicably between the parties with a period of thirty days shall
be referred to Arbitration in the Philippines. The manner and form of
Arbitration shall be provided for in the Lease Agreement and it would
cater for a objective and expeditious conclusion of the dispute. This
process could involve the Philippine Arbitration System or if that takes too
long, appointing a panel of local experts and the decision obtained
thereon shall be binding upon the parties, to such extent as the same is
permitted by law.
P. PROPERTY DAMAGE
i) Loss and Damage- LESSOR shall not be responsible for any loss of or
damage to property of LESSEE or of others located on the leased
premises, except where caused by the willful act or omission or
negligence of LESSOR, or LESSORs agents, employees or contractors.
ii) Force Majeure- In the event that LESSEE shall be delayed or hindered
in or prevented from the performance of any act other than LESSEEs
obligation to make payments of rent, additional rent, taxes and other
charges required hereunder, by reason of strikes, lockouts, unavailability
of materials, failure of power, restrictive governmental laws or regulations,
riots, insurrections, the act, failure to act, or default of the other party, war
or other reason beyond its control, then performance of such act shall be
excused for the period of the delay and the period for the performance of
such act shall be extended for a period equivalent to the period of such
delay. Notwithstanding the foregoing, lack of funds shall not be deemed
to be a cause beyond control of the Lessor.
Q. MISCELLANEOUS
i) Assignment and Subletting -LESSEE only with the appropriate
written approval of the LESSOR, may transfer and assign this lease or to
sublet all or any portion of the leased premises or to cease operating
LESSEEs business on the leased premises provided that at the time of
such assignment or sublease LESSEE shall not be in default in the
performance and observance of the obligations imposed upon LESSEE
hereunder, and, provided further that the terms and conditions in the
sublease shall be in accord with the provisions of this contract.
ii) Fixtures All personal property, furnishings and equipment presently
and all other trade fixtures installed in or hereafter by or at the expense of
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LESSEE and all additions and/or improvements, exclusive of structural,

mechanical, electrical, and plumbing, affixed to the leased premises and
used in the operation of the LESSEEs business made to, in or on the
leased premises by and at the expense of LESSEE and susceptible of
being removed from the leased premises without damage, unless such
damage be repaired by LESSEE, shall remain the property of LESSEE and
LESSEE may, but shall not be obligated to, remove the same or any part
thereof at any time or times during the term hereof.
iii) Estoppel Certificates- At any time and from time to time, LESSOR
and LESSEE each agree, upon request in writing from the other, to
execute, acknowledge and deliver to the other or to any person
designated by the other a statement in writing certifying that the Lease is
unmodified and is in full force and effect, or if there have been
modifications, that the same is in full force and effect as modified (stating
the modifications), that the other party is not in default in the
performance of its covenants hereunder, or if there have been such
defaults, specifying the same, and the dates to which the rent and other
charges have been paid.
iv) Governing Law - All matters pertaining to the agreement (including
its interpretation, application, validity, performance and breach) in
whatever jurisdiction action may be brought, shall be government by,
construed and enforced in accordance with the laws of the Republic of the
Philippines.
v) Demolition of Existing Structures - At the termination of the Lease
Agreement, demolition of the structures and clearance of the leased
premises as well as restoration of damages/alterations done to the
property shall have been completed and shall be the responsibility of the
LESSEE. LESSOR may make a request for certain structures to be retained.
ARTICLE IV.
NON-DISCLOSURE AGREEMENT The LESSOR shall bind
itself not to disclose to any third party the provisions of the Lease Agreement
and shall be liable to the LESSEE for any damage or prejudice it may incur as
a result of or due to the disclosure of the provisions of this Agreement.
Either party shall likewise bind itself not to disclose to any third party any
confidential information revealed or taken up during the arbitration
proceedings.
IN WITNESS WHEREOF, the parties hereto have signed these presents this
________ day of _________________ at ____________________________.

(Lessee)

(Lessor)
SIGNED IN THE PRESENCE OF:

______________________________

______________________________
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ACKNOWLEDGMENT
REPUBLIC OF THE PHILIPPINES)
BEFORE ME, a Notary Public, for and in ______________________________, this ______
day of ______________________, personally appeared the following:

Name

Government-Issued identification

allknown 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 acts and deeds.
This instrument, consisting of 9 pages, refers to an Option and Lease
Agreement and is signed by the parties and their instrumental witnesses on
each and every page hereof.
Doc. No. _______;
Page No. _______;
Book No. _______;
Series of 2014.

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