Pointer Construction International Corporation On the Company

Pointer construction international corporation on the

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Pointer Construction International Corporation On April 11, 2003, the Company entered into a contract of lease with Pointer Construction International Corporation, to lease three parcels of land consisting of 9,808.09 sqm in J.P. Rizal, Makati City. The lease term is for 21 years and six months, renewable for another 10 years subject to the mutual agreement of the parties. Lease payments increase by 5% from October 28, 2012 to October 27, 2019 and the increase from October 28, 2019 to October 27, 2024 is 7.5%. As of October 28, 2009, the new lessor for a 5,869.73 sqm portion of the property included in the 9,808.09 sqm will be One World Land and Properties Corp. which acquired the ownership of the land. JY & Sons Realty Co., Inc. On June 30, 2003, the Company entered into a contract of lease with JY & Sons Realty Co., Inc. to lease a parcel of land with buildings and improvements existing thereon situated at Brgy. Talon, Las Pinas City comprising an area of 14,038 sqm. The lease period is for 15 years and seven months commencing on July 16, 2003 and ending on February 15, 2019. Lease payments shall escalate annually at 3% beginning on the sixth year. On August 30, 2005, a contract was executed with Ellimac Prime Holdings, Inc., as a new lessor to the said premises with lease period of 14 years and five months
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commencing on September 16, 2004 and ending on February 15, 2019. Lease payments shall escalate annually at the rate of 3% beginning on the fifth year. On December 16, 2010, a renewal contract of was executed between the Company and Ellimac Prime Holdings, Inc. whereby the new leased area at the building located at Brgy. Talon, Las Pinas City would be 7,802.13 sqm. The lease term is for 25 years which began on July 1, 2010 and will end on June 30, 2035 renewable upon mutual agreement of the parties. The monthly rental shall escalate by 3% on the sixth to 10th years, 4% on the eleventh to 15th years, 5% on the 16th to 20th years and 6% on the 21st to 25th years compounded annually. Cosco Prime Holdings, Inc. — Dau On June 20, 2003, the Company entered into a contract of lease with Cosco Prime Holdings, Inc. to lease the premises located at Cosco Building, McArthur Highway, Barangay Dau, Mabalacat, Pampanga with a total area of 11,396.91 sqm. The lease term shall be for 10 years beginning on January 1, 2003 and ending on December 31, 2012. Lease payments shall escalate at 5% annually. On October 8, 2010, a renewal of contract was executed between the Company and Cosco Prime Holdings, Inc. whereby the new leased area at the building located at McArthur Highway Barangay Dau, Mabalacat Pampanga will be 9,670.03 sqm. The lease term will be for 17 years and 10 months which began on July 1, 2010 and will end on May 2, 2028 renewable upon mutual agreement of the parties. The monthly rental shall escalate by 3% on the sixth year to the 10th year, 4% on the 11th to 15th years, 5% on the 16th to 18th year, compounded annually.
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