LEASE CONTRACT AGREEMENT

KNOW ALL MEN BY THESE PRESENTS:

This CONTRACT OF LEASE is made for and executed at the City of General Trias, Cavite, this day of
___________________________, by and between:

GEOCONSTRUCTION DEVELOPMENT CORPORATION, represented by its Authorized Representative

MARIANNE R. RIVERA , with bussiness address at 1380 Newton St., Brgy. San Isidro, Makati City hereinafter
referred to as the LESSOR.

-AND-

ASIA STRUCTURAL DEVELOPER CORP. represented by its Authorized Managing Officer FRANCISCO A.
DELOS SANTOS, Filipino and with residence and postal address at 640 Biak na Bato St., Salapungan, Angeles
City, hereinafter referred to as the LESSEE.

WHEREAS, LESSEE wishes to lease the Equipment on a short-term basis of the LESSOR to the project
23GF0032 -Rehabilitation/ Reconstruction/ Upgrading of Damaged Paved Roads – Miagao – Igbaras Rd –
K0037+605 – K0038+025, K0039+210 – K0040+244, K0040+648 – K0040+981, Miagao, Iloilo which are fully
described hereunder, to wit;

M STAKE TRUCK (EX TCPC)

SVT - (YEL-314) Stake Truck, Izusu Elf, PR66P-7105719 w/
1.M.6
Kneeding Machine and Applicator Machine

WITNESSETH; That

NOW THEREFORE, for and in consideration of the foregoing rentals of equipments the LESSOR agrees
to lease and said equipment subject to the TERMS AND CONDITION as hereinafter stipulated:

TERMS AND CONDITION

1. LEASE. Lessor hereby leases to Lessee and Lessee hereby leases and rents from Lessor's the Equipment.
Subject equipment shall be used exclusively at and within the limits of DPWH, ILOILO 1ST ENGINERRING
DISTRICT, Fort San Pedro, Iloilo City;

2.WARRANTIES. Lessee shall inspect the Equipment promptly upon its delivery to Lessee, and shall promptly
notify Lessor in writing of any defect in the Equipment. LESSEE ACKNOWLEGDES THAT LESSOR IS NOT THE
MANUFACTURER OF THE EQUIPMENT, AND THAT LESSOR MAKES NO WARRANTY, EITHER EXPRESS OR
IMPLIED, WITH RESPECT TO THE EQUIPMENT, INCLUDING BUT NOT LIMITED TO, ITS FITNESS FOR A
PARTICULAR PURPOSE OR ITS MERCHANTABILITY. Lessee accepts the full risk of the rental and use of the
Equipment, and hereby releases Lessor from any and all claims relating to the Equipment or the use thereof.

3. NO ORAL AGREEMENTS. No oral promise, representation, warranty, modification or other agreement

between Lessor and Lessee shall be binding. None of the terms of this Lease shall be changed or modified
except in writing signed by Lessor and Lessee.

4. DELIVERY. The Equipment shall be delivered to Lessee at its address shown to the above stated project
hereof. The date on which Lessee takes posession of the Equipment at such location is hereinafter referred
to as the "Delivery Date". Lessee will pay Lessor a pick up and delivery charge hereto in addition to rent for
the delivery of the Equipment.
5. TERM. The term of this Lease shall commence on Delivery Date and shall continue for each item of the
Equipment for the period set forth.

6. RENT FOR EQUIPMENT. The Rental Rate of the equipment is 100,000.00 monthly on which shall be
payable upon execution of this Lease or otherwise as the parties shall agree

7. USE. Lesse shall use the Equipment in a careful and lawful manner, and assumes all risks, and releass
Lessor from all claims, relating to the use therefor. Lessee shall not permit any person to operate the
equipment other than Lessee's employees.

8. PERSONNEL TRAINING. Lessee shall ensure that all personel utilizing the Equipment are properly trained
in the use therefor

9.MAINTENANCE; ALTERATIONS. During the term of this Lease, Lesse shall keep the equipment in good
working condition and repair and furnish all labor, parts, mechanisms and devices required therefore, and
shall return the Equipment to Lessor at the end of the term in the same condition as the Equipment is in on
the date hereof. Lessee shall not make any alterations, additions or improvements to the Equipment, and
shall in no way alter, remove or disable any safety devices relating to the Equipment.

10. INSURANCE. During the term of this Lease, Lesse shall keep the Equipment insured at Lessee's expense
against risks of loss or damage to the Equipment, such coverage to be in the amount of the replacement
value or fair market value of the Equipment, whichever is greater. During the term of this Lease, Lessee will
obtain and maintain, at its own expense, public liability and property damage insurance with respect to the
Equipment . Prior to the commencement of the term of this Lease, Lessee shall furnish Lessor with a
Certificate of Insurance or other evidence satisfactory to Lessor demonstrating that such coverages are in
place and the Lessor has been named as loss payee/ additional insured with respect to such coverages

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

GEOCONSTRUCTION DEVELOPMENT ASIA STRUCTURAL DEVELOPER CORP.

CORPORATION
LESSOR LESSEE
By: By:

MARIANNE R. RIVERA FRANCISCO A. DELOS SANTOS

Owner/Authorized Representative Authorized Managing Officer
 Signed in the presence of:

______________________________ ______________________________

ACKNOWLEDGEMENT

Republic of the Philippines)

____________________) S.S

BEFORE ME, personally appeared:

Name Identifaction Number

MARIANNE R. RIVERA 201-996-851-000

FRANCISCO A. DELOS SANTOS 111-921-004-000

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 _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.