. . I ltis Leasc Agrcc111c111 (I~crcit~allcr rcrc~rctl lo ns tho "Agrectncr~l"), enlcrcd inlo on -]qd- October 1996 . nt the (:ity of llngtlio by n~td bctwectt:

IIASES (:ONVICItSION I)li,Vl~;I,OI'MICN'I' AU'I'IIORI'I'Y (IICUA) crcnlctl by virtue oTltcl~u1)lic Act 7227. ~ v i l l t ollicc nddrcss nt Oficers Club, Old Duilding, Goznr St.. cot.. I.ncns St., Vill:tntor Airl)nsc, I'nsny (:ity, Mclro Mnrtiln, represcntccl Irercin by its Cltnirt~ran nntl I'tcsitlent, V I ( ~ I ' O I t I N 0 A. IBASCO, ltercinnl\cr referred to ns 111c "1,ESSOI~;

l l 1 I I A ' l 1 A N A l N I N . ( I l l ) n corporntion duly orgattizctl in nccordnncc wit11 I'l~ilil>pittc Inws, will1 ollice atldress at tlte 7/17 Itenaissance 'l'owers, Mcrnlco Avc:, Oltigng Ccl~tcr, I 'ns i~ City, rcl)rescnted Iterein by its Cltnirmnn, 11011151~1' .1011N I,. SOIFI

I1'III~I~I

1dn11(1 - I'II.: . I i s l ~ 1 1 1 l 1 I I ])live nlll( llnpuio ~ollll~ry (:IllI) l l l ~ 11(11 111; 1 ,()I 1 '?-GSI' 11111 Lo t I &UJ?I'zA sumy I,~aII ( f Ccs-I :I I 1 (J)-()()()()>I)j, i111tl lOrnl~[;ays Lonknn I'ropcr, Apubnll, ~i~~~~~~ 011 Ill* ~()~1111; 1.01 1 I -I):I~II~:I~ Coanlry (;lub, ~~~l 1 2-llarnnwy ~ I ~ ~ , ~ , ~ 1 l ( l l 1 ( ) ) ~ ;111~1 1 I 2 1 - ~ w o t ~ ~ ~ l l o ( I n l i o ~ l Cluslcr (or survey ,,Ian ecs 1 1 ) , I A 'l'rnil on t h enst; ~ " 1 I-L)arangly 1lillSido, I,~* 2 - l ' l ~ I ~ c l c d I*~rcsI, 1111 IZ-Sco111 llarri" rind Lot 13-l]8r8ngay [ J P I ) ~ ~ J)nysiall (or survey pin11 ~ c s 13 I 102-00263y), i."t g-l'ro(ecled I'olcsl, I,OI ~)-111118ll~~ily ( i r c ~ l l ~ i l l e r , Lo1 10-l)arangny I]illsidc, Lo( 16- I'U)~~'~C(I I ~ ~ C S I ~ , o l l I ' ) l l n l n ~ n y U p l r r I)ngsinll (or rumey l~~nll Ccs 131 102-()000.10), i l t l t l l lnrnl~gnys Sla, Escolns(ica Lower 1)ngsinn on tile IVESI.

'1.11~ lccllnical tlcncriptioo of cac l~ Cluatcr incluclcd in i l c h a a d l'ropcrly u11all tm Iitt~~LIltc~l Ily 1110 USSOIZ to Ura LESSEE upon1 c o ~ n ~ ~ l c t i r ~ n l11c1ca)f I I I I ~ 1101 lalcr U I ~ I I sixty (60) days [runt execuliot~ of U ~ i n Agrccr~re~~l.

l ~ ~ l p t : ~ ~ ! ~ ! ~ - 1111(1ro~~1ncnIn consint nf l l ~ e l~uill-t~p n r m wiU1i11 t l~c -~ ~~. 246.YK17 - Ircclntc nraa illclt~dhlg ~ccontntnclaliott, cutl~tncrcial, rec~caIiot~:~I nttd cc*nlerc~lcc lacitition a~ d c n c n i ~ iit lltc Clunlcnt. An i~~vct~tory (PI' ~ r n l in. i t ~ ~ c ~ r c ~ v n l ~ k atcl pcmor~nl or tr~nvablc 1n.cqwtiics cxinli~~l! will ti^^ Il lr : I .cnuccl I'tol~crty will 11c Iim~inl~ccl l ~ y 1110 LI!SSOI( lo t l ~ c 1 .li:;SI;.I', will~itt lillee~t (1 5) d n p upon cxecutic~l~ of Udn i\grcaltcnl.

S w t l o ~ ~ 2. Ercl~l~lct l Ro~n l , ~ n w - *111c follorw~~g arc excluded from lllc 1xnam.J 1'1opc11y: 1'1olccletl l'o~cnt it1 ivliclt l l ~ c arcaa of Ole Voice o r America and llte U.S. An~l>aflsatlor's 136Ialc arc locnlctl, tltc l)cll Ilotrsc and 1)cll h p i ~ i U ~ c s l c r , the Asinn Itt~(i111lc 01' M ~ I I ~ ~ C I I I C I I I ntca, n~td Ilnilding 663 mid ita AIIICX .

ScclIo113. I I I ~ ~ W C ~ ~ O I I , NO \Vnrrnnly - 'Ilw IJJSSOR l w c 8 Ula l ~ a s c t l I'rnlw~ly In U I ~ i.liSSI;I'. 011 art "A!; IS WIIISKIJ IS" banin. 'Ibc I.ESSI

Section 3. Scolte ~ I C ActivilicsfiVork - l'llc LESSEE sl~all in t l~e use. tnal1ngemcnt and ol)c~:ttio~t o f t l~c 1,ensccl I'roperty:

;I. I)cvclc~l) Ihc I,c:rsccl I'toperly in nccordatlcc wit11 tlte ~~arntnetcrs, Ial~d usr. plan. a1111 olllor tlesig~r puiclelit~es provided it1 the jolt^^ llay Mnstcl- I)cvclt~l~tr~c~~l I'IIIII nl)l~rovcd by UCUI\;

I). Al)itlc 11y llrc I'~oject I~tr l~le~~tc~rlnt io~~ Co1111nilt11en1 ns ngrcccl upon hy lllc l,I~SSOl\ illlll I ,l~sslil;.

c. SCCIIIC it11 (rc.tnrils, cc~tilicitlcs i t~iel licenses, li-on1 nll g o v e r t t ~ ~ ~ e ~ ~ t i~l;c~tcirs n t t ~ l I l l r JI'I)C wlriclr 111-c nl)l~licid~le ill t l~e JIISKZ;

c. I'~oti!c~ nnrl e~~lr;~nce lltc nnturnl tesoulces (forest atid its environs) in rccol:~~iliot~ or ~lrc 1,eitsctl I'loperty ns a wntetsltetl, subject to UII l i rrvit~~r~~tc~rti~l 1111(1nc,t ASS~SSI I I~ I I~ (EIA) or 1110 clovclop~nent platt wl~icl~ sl~:rll be cvi~l~talctl Tor IIIC grnntittg OF n n Environme~ttnl Co~~~l~l iancc (:crlilici~tc nrltl a ln~~clscnl~c plat1 to be submitted in delnil.

I' Ocvclol~ tlrc l.rnsctl I'~ol)c~ly inlo nn ir~tcgratctl eco-touriw~. at~d tnr~ltil~le-use tlcvel~rl~r~~enl co~rt~~lex wit11 world-clnss facilities and t~~~lc~li t ics n l par will^ sla~ldc~ttla rctluireil o r a wo~ltl class 1oulis.l clcsti~~atic~~~.

Sectiu~r 1. An1111nl l l r ~ ~ l n l - 111 cottsideratio~l for tltc lease o r tlte properties, \lie I.I?SSEI? sltall pny t l~c I.I!SSOIC a fixed a~rntral rentnl of PESOS: POUR IIUNDIIEI) W N I Y - I MI1 ,I.ION ONlJ 'I'IIOUSAND TIiREE IIUNIlRI.:D AN11 SIJVEN'FY 1~1Ci11'1' (1'.125,001,37R 00) or fivc pcrcent (5%) of Gross Itcve~luos, wl~icl~cvcr is l~igl~cr, l'ltOVl1)lil) Illat t la fixed unm~al lental commencing UII l l~e six111 (6111) yci~r sl~all ttol be ntote i l ~ n n 1'13SOS: ON11 IlUNDllliD FIFTY MII.LION (1'1 50,000,000 00) Ibr lllc tln~;~tiot~ of t l~c lease l~c~iod, PIIOVIDEL) Furtller. tltnt tlic 1'1 50.000.000 00 en11 sllnll not np(1ly ICcvcnues, nnd I'I~OVll>lil) finally, I)cliitc llte lrrsl di~y ol 'tl~e liqcal ycn~, nntl nny (5%) ol' Gross i~cvc~tucs, to bc con~~u ted tlrirty (30) days kotn the I ) I I ~ I I I C I I ~ orthe

5

For tllis i)t~~l)t)sc "tiloss l

I e x c i I I i : ~ I I Agrccn~ent, nntl to secure tltc i.l:,SSlill's liti l l if i l l cc~nil)li:~nce will1 IIIC li ) l lowi l~g con~t t l i l t~~ents (l~ereailcr colleclively rercrretl to ns t l ~ c "l'rojccl l ~ ~ r l ~ l c l ~ ~ c t ~ t n l i o ~ t Con~tnil~~ients"):

i. 'I'o invrsl n l l a ~ s l IyIISOS: T W O l%II,LION S I X JIIJNUI

If n l irtty tirltc tlttlitlg t11e life of llre I'erbr~nance Ilot~tl, LC, .SSOI< shoulel tlclcrtrtitre llrnl ccrtnitr c~cvrlo~~rncrrl works arc 1101 ill nccordnc~ce will1 (Ire Mnstcr I)cvclol~trre~tl I'l;rrt atrtl the I'tr)iccl ltt~l)lcttrer~lntior~ I'laa ns npprovetl by tlre I,IISSOIZ. I.lir~g t l~c violntiot~, ontl tltc I,I;SSIIII sltrrll irrtctlloso tlo objection to sl~clr chnngc order.

I,liSSI?II slrnll. Iirrrstr;rnl lo Atliclc Vlll or llris Ap,ree~~tc~~t, srcbtc~it to llrc I..I:SSOIt n tlclnilctl scl~ctlttlc of work sl~cciryirtg tllc tnrgct cornl~lction dale (Irerenllcr the "'l'irtyet Cortrplctiolt 1)itlc") (ijr e;tclt ohnsc of lltc I'roject. Save as tnay l)c exctrsccl by tlrc ocr:urrcrtcc of lijtcc t~ri~jcrrrc ;IS Itetei~rnller dc(inccl. 1..14SSBLi slrall be bou~rd by the 'l'nrgcl Cot~lpletio~~ Ijatc. 1,IISSISU slrnll 11ny to the 1.1',SSOI

Scclicnl 5: l.inl1ilily of l l ~ r I'r~~~ur.oincicc Iio~ltl Isaller - 'l'llc I'crli~rtnnncc l%olltl sl~all sc~vc ;IS j:u:rtslrlcc li)r tlrc l i r l l atltl hitl~fill cotnylinncc by tile Ll

Scc1io11 2. Silltil~is~ioil - 0 1 1 01. bcfbrc cot~r t~~cncct~~c~i t of const~uctio~r, tllc - S S I I S I I I i v t I 121'.SSOI< copies of all initial iclsurancc policies, ntltl ccrtificntcs ol'ilrs~~~:r~rcc: it!qrtiictl Oy tltis Agrcet~icl~l. otlicr Illan tllc statidard All-Risks i~rsitrnt~cc oolicy ( i ~ r l l r c cot)sltr~clioi~ of the facililics of 1l1c Innsecl I1ropcrly, copies 01' whielr sllall l)c tlclivclctl irtr to the coit~rt~cncc~net~t ofconslnicliol~ of each plrasc.

Sec(io11 I . I l sc of I I IF l.c.rrsccl 1'1.ol~cr.ty - l'lrc L,I

Scc l ic~~t 4, I D ~ t ~ j c v t ~I~I~~~~II I~~II~II~~~II I'IUII - '1'11~ l~l

Scclior~ I. ~.. ( : t~ r ls l~ . t~ r t io~ t n r ~ d Ol icrnl io~c Sclietlule - 'l'l~e IXSSEE shall cucitl)lelc cor ts t r~~cl io~i : ~ t t t l t lcvc lo l~~~ter t l o f tlte f i l lowing physical coniponents based 011 tile nl)l)rovctl firrnl I'roijccl 1 1 l c i n 1 i t I'lan o f tltc 1.cased I'ropcrty rcrcrrcd to i r t Seciior~ 2(n) of i l l is A~t ic lc. t l l r c l witlritt thrce and a l ~ a l f (3 112) years frotri sig~iirrg o f I l l i s Al;~ct:~t~t!~iI:

A~I111i11istr;ttiott l!~~il[li~tg 'l'otlr is( I r ~ l i ~ t r t t n l i ~ r ~ Kiosks I'ockct I'nt ks I'icllic I'nt ks 111 itlle I'ntlls Il:~tttlrrtsctrc~r~ (;olf'l'cclt~~ology Cetitcl. Cioll' Clubltousc I lolcl blitic~ (:It10 View 1)cck wit11 I'ood Outlets (:latr c l l ( ~ t ~ ~ t l i l l c r a I lilts (:oltn):cs Ap:t~lc:llc I a1111 2 Sliclcs/l'rn~rsmol~ilcs/~:Rrtt~~sitcs llrcloor Itecrcatiot~ Cott~plex 1 lclslcl Mixccl-trse Cot~tplex

I . I

I : c~~ i~n i~ r - c i :~ l I~~~c I : I~~(~ I Is OI'IIIC RI)OVC ~ i ~ c n t i o ~ ~ e c l i1eln.q SIIRII cease n l 111e encl o r l l i c let111 of (his A(:rcSrn~c'~~l IIIICI slr;~l l 1)c hnnctl ovcr l o l l lc I,IXSSOI< IIlc dny aner l o n ~ i n : ~ t i o l ~ o f e o ~ ~ ~ c ~ c i : : 1 1 i o 1 1 . NcrI \v i l l~sI~l~di l lg IIlc ~oregoillg, l l ic parties mny ngrcc lo :I continrl;ltio~~ of' c o ~ t ~ t r ~ c ~ c i ; ~ l o l ) o i ~ t i o ~ l s o f any or all of ( l ~ e nctivilics i t \ l l ~ e it~tercst ol. ll le l>~ll) l ic s i~ l~ jec l l o i111c1it11 sc l~cn~e nrrnngenient imti l final l iqu ida l io~~ or lurnovcl-.

Scei io~r 2. . SII~IIISS~IIII Sclrrcl l~lc - I n i c sh:~ll co~~ l l t le lc 1I1c k l l o w i ~ ~ ~ , : nctiot~s rrntl clclivc~ 1111: l i r l lowi~tg < l o a ~ n ~ c t ~ t ~ on or before 111c i 'ul lowi~~y spccilietl clil~cs:

:I. Wirl l ir~ six ((i) III~IIIIIS (ic1111 IIIC execution o r Illis Agrcett~cnt, t l ~ c I .liSS1?1< s l l : ~ l l s~~ i )n t i l 10 ~IIC IrlISSOI< IIIC final I'rojccl l t ~ i l ~ l c i t ~ m t l i ~ l i o r ~ I'l:~n of' tl lc l.c:~sctl I'ropcrly intlicitling ~IIC pli~c~, titnelablc fur i l ~ c ~~IIIICI~III I ' I I : I i s c l ~ i c d i ~ v c s t i c ~ c o t a110 0111cr rclnlctl claln ncccssary l i ~ r l l ~ c I,ESSUIt t o get n r11ll ~l~praisal or (la in~l ' loncr~lnl ion o f t l ~ c h.li~s(cr- I)cvclol)nicnl l'lnti. fi)r tllc I,I!SSOlt's levicw/nl) l~~ov:~l !villlin t l i i ~ l y (:lO) days f r o r e c c l rhereol: IF l l lc I.l

e. 1\11 l~liysic:~l itili-iistc~~clutc platis shall conforn~ to tile npprovcd lalrd tisc clclcr~iii~inlitr~l. No dcvinlioti from tllo MDlx shall be nllowetl wilhot~l a 111ior wrillcn consent of the LESSOR; 1: Al lei~sl llrirly ( 3 O ) tlnys prior in tllc start of coti~niercinl operntiotis 0 1 I I c y , Illc I.I:SSIiL'! shall submit to L.l!SSOI~ copies of 1111 tlt:lwirlgs 1111tl l'~rl~lil/s trf OCCII)IRIICY indicating tlint t l i ~ structure is it1 good scrvicral)lc con~lilion nnd rcatly fur occupancy. No facility sllall IIC usccl or sllclwc.tl lo ollcrnlc coi~rcircrcinlly ~n~less sucli doct~oie~~ts ilrc issucd by l l~c loc;~l govc~ I I I I I C ~ I ~ ; ntld

1: Witl~itl llrirly (10) 5I11ys fio~n lllc sl;uL (if conintctcisl olrctntious for c:rcll (iicilily, ~ I I I * I.IiSSI(IJ sl~nll sul)liiil lo the LESSOIt one ( I ) o~igi~ml :11itl onc ( I ) cl~rplrc.nlc colry of tlic as-built dinwings for all st~uctutcs i l l :I I U I I I I ~ I ~ i1ccrl)lnl)lc: lo t l~c I,I!SSOIt.

Sccliol~ 5, I

Slio11l11 l l ic 1~1ritils aid awcclr UI~I 111e I.IISS( )I< sliell nt)l ilrctrr arty civil (11 cc i r~~ ina l linl>ilily li'r lltc anicl action.

S r c l l ~ 3. I ) : ~ ~ n n g r l o l ~ l n n s t t . l l c l l ~ l ~ - 'I'bo LI!SS)3B a l~n l l n~tdc l lakc l l ic rcltnir ol any clrrnal:cs ca~lsccl IIV ll lc cnl ty of any o f its mlt~il~riicnl/fle~oii~iel l o cxixtinp. i ~ i l i n n l ~ i ~ e l r u c i ~ ~ c I ~ l < l i ~ r g I>nI 1101 IitnifeO 10 roada, ctwbn, gullet8 nncl otltcr p t ~ h l i c ul i l i ly lacililics.

' I l ic I,I:.SSOI< sllall s c ~ l r t i ~ c tl lcir conl~.:~clr)ts lo adopl tt~castwcs wll icb wi l l cnsurc i l ic clcanlincfirr 01. t l ~ c ntca.

Scctlun 9. S t c w k p l l i n ~ - Ar~i;tcc111 lola may be uncd for tlnniping of malc~ials or -- ulock1)ilr lilt c c ~ ~ i s ~ ~ ~ ~ i c l i o ~ i , ~~tovic lccl ~ a i d lcttr, ntc i~nn~cc l ia~c ly clcanccl al lcr consl t~~ct iotr ancl 1111 e u l c ~ i ~ i v c + l ; ~ n i n ~ c 111 l l lc cxisling vcge ln l i o~~ sliaU Iw incu~l.ccl. M iu i~~g cc~iicrclc tlircclly 011 IIIC ct)lrcrclc 1o;111r; or ~iavccl side\valkn sl111)l not be nllowctl,

Scc(ln11 5. 1 l l i l l l y ( ' r ~ n n r c i l ~ r s - 'l'nppiog ancl/cK connection lo tllc walcr, clrainagc, scwngc, power ; n l c l I c l c c ~ ~ r i ~ ~ c i r i t i i c ; ~ l i ~ ) ~ i ~ n a i l ~ l i l t ~ ~ b y l l ic 1,l;SSlill and SIJI11,I'.SSl klII.I.ION (SlOO,OOO,O~U~.~U~) or l'lCSC.>S: 'I'WC) l~ll,l~l~')N, S I X l l U N l > 1 1 l i l ~ h~ll.l.lON ( I ' 2 , ~ ~ O , M l O , ~ . O O ) ncccsnaty lo ntcet all linnncinl obligations untlcr Il l is ~\p.rccnictll ~ l l n l l I w nvnilat~lr.. 'I IIC I.li:~:!iI~I? Ct~rllier \ v r r ra t t l~ no1 lo create any I~CIIR or cti t i tn~tl~rnr~cclr o n 111e 1a11cl 01 any part l l ~ c r c o f in scctll ing Ii+jccl l i n ~ t c i n g .

AlCI'lC'1,E XI S I ISI'ICNSION 01'

' I ' i~l lc c x l c ~ ~ s i o ~ t t t l t t l ~ t ~ s ~ i l l i ~ l g ~II~USIIIICIIIS in cotn~nercial operation dates nntl tltc telnls or l l t i s A ~ r c c ~ ~ l e ~ c l sltnll lie nllowcd in casc of force rrrajcu~e and prolotlgcd rainy r l r~wo~k t~b lc tlttys, cxccl~liot~nlly clcst~uctivc typlloons, floods, earthclunkc, volcanic c t ~ l l ~ t i o ~ ~ nlrtl olllcr t ~ n l r ~ ~ a l cnla~t~itics. 111 nll cases, tirite extensions nncl lcrol ~II~IIS~IIICIIIS IIIIISI IIC ~I~I I I~ IVCI~ 11y IIIC 1,IiSSOl~.

S c c l i o ~ ~ 1. I ) r l i ~ r i l i o ~ ~ - "l;orcc Majcr~rc" or fortuitorls evcnls as thesc tcrlns nre r ~ s c t l ill i l l i s A[:IC~III~III s l ~ : ~ l l rlle:ut all cvcrlts wlliclt could not llnvo becn forcsccn, were incvilnl~lc n ~ ~ ( l i ioyr~c~tl 1111: c o ~ t l ~ o l of l l ~ c I.I.;.SSBI!. and w l l i c l~ n~atcrinlly nllkcl tltc trl~ili ly of tltc I,I5SSlili l o co11111ly will1 any o f i l s obliyatiolls under tltis Agrcc~~lerll, ant1 sl~it l l illclutlc:

a. Acls o f w:tt or ll lc pul~l ic eucrrly wlrcl l~cr war be declared or not;

c. I;i~cs. c n ~ lltq~~akcs, vo lcn~~ ic cml)tio~t or otitcr 11cstn1ctivc natural cnl:u~ritics;

c. I'nssi~(;e o f :I locnl o ~ t l i ~ ~ n t ~ c c or rrtty unrcilso~t;~I~lc clclny by n~ ty rc l :~~ln lo~y :Ij:cll(:y or IIII~ ncl o f ncty person or cntily tl1111 cllcctively ~ ~ ~ e v c t \ t s \he I I S I I l i -o~l~ pursuir~g andlor inlj~le~netltittg its t l c v c l o l ~ ~ ~ ~ c c ~ t ~~ l t tns .

I: Any otllcr ovc~lt wlriclt ~ l ~ t t l c r I ' l~i l ippi~tc law is dcfi~red ns I'orcc ~ t la jcu~c RII~/O~ h ~ l u i l ~ u s CVCIII;

Sectitt i 2. hIll~lirnltil i iy - Any patty sltnll bc cxcuscd liont l l ~ c perforntnncc o f n ~ r y of its obligntions ~tnrlcr tlris Ag rcc~nc~~ l , and slrall not bc conslrt~ed to bc in tlclay 01 i t ~ tlcfttull i n respect o f nlry obligation llcrcundcr for so long as failure l o pcr for~n s11c11 olrligatio~t sllall ire tluc to 1111 cvent o f force ~nnjeure. Wlrcn tile parly desi~cs to 11c cxcr~sctl tluc to l i ~ r c c tnajeurc, it sltnll serve notice to tile ot l~er party in wriling willlin livc (5) clnys nllcr tllc tcr~tlin;~lion o f tlte event o f force tlrnjcurc includirtg sc~f iciel~t i l~lb~nrnt iot l as 10 111c cnIIsc. Any IIRI~Y'S lhilurc to comply with tile notice requircn~e~~t Itlay Ijnr i t rrott~ rnisi118 snit1 g t o ~ ~ r l t l for force tnnje~lre. X Section 3. N ~ ~ ~ t - A ~ ~ ~ ~ l i ~ ~ ~ ~ l ~ i l i l y - '1'11~ prov r~otwithstirntli~tg, (brcc ~~ta jc tc~ e sllnll not c x c ~ ~ s c I

17

:I. I ~ t c ~ I I I I I o f llloney, or clelivery of equipnlcnt and lllatcrinls causctl by i,liSSIiI;, or i~iclficie~icies 011 tlic part o f LESSEE or any o f its cotltrncto~s or stlbcolltrndors;

I . I.;~tc ~ ~ c ~ l i ~ ~ l l ~ ; l t l c c by l,l

. I;:~ilu~c of l l ~ e I,I(SSI.iIi to subtnit detailed engineering plans, t l o c ~ r ~ ~ ~ c ~ ~ l s ~~c~l:r i t~ir~l: 10 nn cnvirontncntal impact nsscssmcnt, nt~d 1111 otl~er vit:~l ptc-consl~ucliot~ docutncnts and certifications.

11. M;~le~ir l l violi~lion by tlic l.ESS131: o f any o f l l ~ c ot l~cr tcrtns and cot~tliliotts o f t his Agrcctnc~~l.

&(ion.-& N r ~ t i r r oC ' I ' c~ .n~ ian l i o~~ - 'I'l~c LI2SSOIt sl~all sctvc notice o f ton~innl io~r l o the l.ltSSl

Scct iu l~ 5. c ~ i - Sl~orllcl thc 1,13SS1311 find i t llcccssnry to ~elocalc n busil~css nclivity tlrlc l o v;llitl leasons, t l ~ c I-ESSOR sl~aII autl~oilze l l ~ e LESSEI: 10 ~elocntc to nl~oll ler silc ol'cclu:ll size alld sil~rilar feature within t i le JIISEZ.

'I'llc ~e loc i~ l io l l cxl>cl~sc:s SIIC~I ;IS c o ~ ~ s l r ~ ~ c t i o ~ ~ o f new facilities si i~l i lar l o 1l1c foctncr filciliiies atltl l l lc cosl o r l~ tov i l lg sl l i l l l be ibr tile account o f t l ~ e LESSEE.

'I'llc I elocaliol~ silc s11;lll IN: ~)I('~)III ctl l i l r i ~ ~ ~ t ~ ~ c c l i i ~ i c occulln~~cy, so t l ~ t ~ l l l ~ c t e is III~~I~III;I~ i t ~ l c r ~ l ~ p l i o ~ ~ ill l l ~ c i,liSSlCli's t~usil~css activity.

Scc t io~ l I. 'I'l.ntlsrrr (IT I1:c{l~ily - '1.11~ IAUSSIXIJ sl~nl l 1101 sell, assign, Irn~~sTer, - - - - - t~~orl j iagc, (1lctll:c or c . ~ ~ c ~ ~ t r ~ l > c r its celllily or all or substa~~tially all o f its assets in co~~ l l cc t i t r l ~ will1 Illis Agrcc111c111 cxcc l~ l II~I~II t l ~ e approval ol' t l ~ c LESSOK, w l ~ i c l ~ al)provi~I s11itII 1101 be ~ ~ ~ ~ r e a s o t ~ n l i l y wi l l~l~cl t l ; oll~erwise, tlte salrlc sl~al l be co~~sidered allcl tlcnlt wit11 as all cveclt orclelitrlll u~lt lcr Article XII I .

Scc l i o l~ J. - . . . - . .- . I I I I - I I'c~.iotl - 'l'llo I'I7MI n11t1 I'CIII slei~ll l ~avc 1111 eeluily o r IIOI less ~IIIIII i l ~ i t l y l ivc (.Isx) II~:IC~!III ill ( I I . I M I I I I tlgrcc ntrt 10 iec~l~sl'cr. collvcy, or sell \hcit. cq l~ i l y i r l (:JI I lo nr~olllcl. ~ ia r ty wi t l~ i r l l l le lirsl l ivc (5) ycnts o f lltc lcnsc licticitl. 'I'llctctlllcr, nny l tn~~sfer. convcyalrcc or sale sllnll be will1 tile cot~scnl o f tl1c I.IISSOIt.

AlCl'l(~l,lC X V 1)lSl'U'l'lC SI~I"l'I~lCMI?,NI' A N D

V E N U E 01 S U I T

Scc t io l~ I. 1)isltatc S e t t l c ~ t ~ e ~ ~ t - III case o f disl)uic nrisiug fronr illis A~~~CIII~III, l l lc si1111c sl~al l lie tliscr~ssctl by a joint co~rmmillee coml)oscd o f twc~ r n n k i ~ ~ g rclxesct~lnlivcs or tile I,ITSSOIC nlld two ranking rcprcsc~~talivcs o f t l l c 1.ESS13fi. 'I'llc (:o~~~rniItee sllall c o ~ ~ v c ~ ~ c i ~ ~ ~ l t ~ c t l i t ~ l c l y u11on call by citller patty. 'fbc decisioll o f ihc C o ~ l ~ r l ~ i l l e c i s Iitlnl RII~ ~XCCIIIOI~.

S l~or~ l t l 110 :Igreclt~ctll 11c ~e i lc l~c t l w i t l l i ~ ~ i l ~ i r t y (30) clnys nllcr t l ~ c cornltlcllccltlcltl ol' tliscrlssior~s, the t l isc~lss io~~ sltnll be tcr l~~i i lated nntl tllc disputc sl~al l be rclkrrctl l o ar0ilratitrn rl l~der t l ~ c l)rovisio~rs oTltcl~ublic Act 386.

Sec l io l~ 2. Vrrll~cr o r Agrcnl t lc~~l s l r i ~ l l 11e l l ~ c

S e c t i o ~ ~ -. -- 1. ( ; r ~ t r r r l l R . l rc i~ r I t~~~n~t re , S~~ t~ i l n t i u t c , I

Scctiu~r 7. I ~ i s l i r r t i o l ~ or I ' r r ~ ~ ~ i s c s - l ' l lc 1,IiSSOll rcscrvcs tlic riglit t o enter alul irispccl rile i,cascd 1'1ol1c1ly ill icnst~ttnblc li111cs nrctl will1 prior tlolicc. 'I'llc LESSEII ngrccs to cool~ctnlc will1 tllc I,I!SSOIl it1 kecl)itig tlie 1,cnscd I'roperty in good a11d lcrianlable cotitlitioll.

Section H. ASSIRIIIII~III - '1 '11~ I ,I(SSOIl ~CSCIVCS (lie rigill t o assign, transfer, or cricu~l~lict- ils til:lils 1111tIrr Illis AI:~C~IIICII~ w i t l i ~ l t t the prior written liolicc lo stltl co~lsctlt o f t l ie I.I'SSlil

S c c l i n ~ ~ I S , .IllSB:% I(r~lcs :rncl l t e g ~ ~ l n l i u ~ ~ s - 'l ' l~e imp len~en l i~~g rules nntl regulations o f tllc JIISIG'. w l ~ i c l ~ sl~nl l IIC furtnulnted wit11 concerned govcrnlnclrt t~gcncies try t l ~ c I,l'!SSOIt onrl I.IISSI'!IJ sl~nll be made an integral part o f t l~ is Agree~nerrt. .I llc I.IISSI'!I! ngrccs to nbidc by all (Ire rules and reyulnlions o r t l ~ c J E Z Ally violntiun o f s u c l ~ rr~lcs nntl regulntiot~s sl~al l causc tlle terminntion o f t l ~ i s Ayrcc~ncnt.

S.ec1io11 Ifi? I ~ ; ~ ~ ~ ~ I I ~ ) ~ ~ V - I ~ ~ I I I ~ I I ~ I ~ I ~ ~ lttln4i1111sl1il1 - I t is l ~ c ~ e l ~ y ~~gvcct l l l ~ a t ~IICIC is 110 ~ ~ ~ i ~ ~ l o y c r - c n r l ) l v y c c tc l :~ l io l~s l~ i l ) I~c lwccc~ tile I.I!SSOIt ant1 t l ~ c I,l;SSEI! or t l ~ c e~nl~loyccs, ngc~~ls, tclr~cscl~lntivcs or ~II~-I.I!SS~~IJS o f the latter.

S c c l i o ~ ~ 17. 'I.V:IIIS~~~IIII l ' r r i~~~l - '1'11~ l,l

Sertiolt 22. -.. 1'1.ol1os:tl l ) o r ~ l ~ t ~ r ~ r t a - 'I'llc 1,IISSIlIJ hereby rciietntcs nntl incori)oralcs in I l l is Agrec~l~ct~ l nII tcl)tcsclll:tlio~~ nntl w n l ~ a ~ ~ l i c s tnndc in lllc I'roposnl Docun~cnts.

By:

@ JOSE ItEVI1,LA REV ES, JII .

~ i r c c t o w

S i ~ t ~ c t l i t 1 Illc i~teset~cc of;

N:IIII~. OI:II~OII I ly:

Josc ICevill;~ l