MANDAUE BRANCH

Proposed Effective Date of Termination of Lease – 8 October 2019

ACTIONS TAKEN/TO TAKE DOCUMENTS

Lessee: MHD JR. Inc. Notice of Pre-Termination to be received by lessor. Notice of Pre-Termination of Lease Contract
 Still awaiting feedback by Sir Loreto (Store duly signed by official signatory Mildred
Supervisor) Buenaflor.
ACCOMPLISHED
Lease Term: November 8, 2005 – N/A N/A
November 8, 2020
(15 Years)
Remaining Months: 13 months (October 2019 – November 8, 2020) N/A N/A
Advance Rent Deposit: None N/A N/A
Security Deposit: P 72,600.00, for 2 months (verified by Accounting  Note that per contract, the security deposit N/A
Department, per their records) shall answer for any unpaid utility bills.
PDCS UNTIL DECEMBER 2019 WERE ISSUED AS RENT
PAYMENT, PER ACCOUNTING.
Pre-Termination of Lease One (1) month advance notice. The Lessor must be notified on or before October 8, Notice of Pre-Termination of Lease Contract
Requirement: 2019, such that the effective date of termination of lease addressed to Lessor.
contract will be November 8, 2019. The equivalent one ACCOMPLISHED.
month rent thereof (P 36,300.00) may be deducted from
the Security Deposit, including unpaid utility bills.

Effects of Pre- 1. Renders the lease contract null thereafter. N/A N/A
Termination: 2. The Security Deposit shall be applied to any
unpaid utility bills, and the balance be refunded
thereafter.
3. Fixed Improvements (i.e. building, fixtures which
cannot be removed without damaging the leased
premise, etc.) shall belong to the LESSOR.
4. Improvements which may be removed without
damaging the leased premise shall pertain to
MHD.
BUTUAN BRANCH
Intended Date of Closure – 20 October 2019
Proposed Effective Date of Termination of Lease – 1 November 2019

ACTIONS TAKEN/TO TAKE DOCUMENTS

Lessee: MHD Jr. Inc. Notice of Pre-Termination to be received by lessor. Notice of Pre-Termination of Lease Contract
ACCOMPLISHED. RECEIVED BY LESSOR OCTOBER 14 duly signed by official signatory Mildred
(per Clifford Bolingot) Buenaflor.
ACCOMPLISHED
Lease Term: 5 years (start and end dates not indicated in the contract; N/A N/A
the same is true in the old contract)
EFFECTIVITY OF TERMINATION OF LEASE – NOVEMBER 1,
2019 (as stated in the Notice)
Remaining Months: Cannot be ascertained. N/A N/A
Advance Rent Deposit: None N/A N/A
Security Deposit: P 120,000.00 for 2 months (verified by Accounting N/A
Department, per their records).
 Parag. 10 of Lease Contract, the Security Deposit PER ACCOUNTING, PDFS FOR RENT WERE PREVIOUSLY
shall be applied to any unpaid utility bills, the ISSUED COVERING YEAR 2019.
balance to be refunded thereafter to MHD.
Pre-Termination of Lease 90-day advance notice. Will try contacting lessor if he has no issues with the Notice of Pre-Termination of Lease Contract
Requirement:  Noted in the notice that termination will be date of effectivity. addressed to Lessor.
effective November 1. This is an attempt that we ACCOMPLISHED.
need not pay the entire 3 months.
 Note also that lessor might demand to strictly
observe the contract, hence we are bound to pay
the rent until January 2020.
Effects of Pre- 1. Renders the lease contract null thereafter.
Termination: 2. The Security Deposit shall be applied to any
unpaid utility bills, and the balance be refunded
thereafter.
3. Fixed Improvements (i.e. building, fixtures which
cannot be removed without damaging the leased
premise, etc.) shall belong to the LESSOR.
4. Improvements which may be removed without
damaging the leased premise shall pertain to
MHD.
KABANKALAN BRANCH (GBB – under dealership)
Intended Date of Closure – 27 October 2019
Proposed Effective Date of Termination of Lease –

ACTIONS TAKEN/TO TAKE DOCUMENTS

Lessee: Nelson Miralles (formerly as 5M) Must be the signatory of the notice of termination of Signed Notice of Termination of Lease
lease contract. ACCOMPLISHED Contract
ACCOMPLISHED.
Lease Term: 10 years N/A N/A
Remaining Months: 7 years, 3 months N/A N/A
Advance Rent Deposit: 6 months (March 2017 – September 2017) N/A N/A
 already used and applied, hence non-collectible;
Security Deposit: none
Pre-Termination of Lease 60-day advance notice. Should the Lessor be notified within October, the Notice of Pre-Termination of Lease Contract
Requirement:  as of Oct 15, notice not yet received by lessor effective date of termination will be by December. addressed to Lessor.
Hence, it is advised that closure be fully made by TO FOLLOW UP GEDALYN BULLOS
December, then. (KABANKALAN GBB) WHO WAS
INSTRUCTED TO HAVE THE NOTICE
Per accounting, PDC covers until December 2019. RECEIVED BY LESSOR.

Copy of latest Lease Contract.

Effects of Pre- 1. Renders the lease contract null thereafter.

Termination: 2. Fixed Improvements (i.e. building, fixtures which
cannot be removed without damaging the leased
premise, etc.) shall belong to the LESSOR.
3. Improvements which may be removed without
damaging the leased premise shall pertain to
MHD.
ORMOC BRANCH
Intended Date of Closure – 30 October 2019
Proposed Effective Date of Termination of Lease – same

ACTIONS TAKEN/TO TAKE DOCUMENTS

Lessee: DM CODILLA ENTERPRISES, INC. Serve Notice of Lease Termination. Signed Notice of Termination of Lease
through CEO Elizabeth C. Codilla Contract by MHD
ACCOMPLISHED.
Lease Term: 8 years - -
Remaining Months: Lease Term until 28 February 2027 - -
Advance Rent Deposit: None. Verified by Accounting. - -
Security Deposit: None. Verified by Accounting. - -
Pre-Termination of Lease Not stipulated in the contract. Notify the lessor of the Pre-Termination. Notice of Pre-Termination of Lease Contract
Requirement: addressed to Lessor.
Per accounting, PDC covers until __________ 2019.

Effects of Pre- 1. Renders the lease contract null thereafter. Pay remaining utility bills.
Termination: 2. Fixed Improvements (i.e. building, fixtures which Process disconnection of all utilities that are under the
cannot be removed without damaging the leased company’s name or its representatives.
premise, etc.) shall belong to the LESSOR.
3. Improvements which may be removed without
damaging the leased premise shall pertain to MHD.