sunvar annually or P 573,100.00 for twenty five (25) years, 25% thereof, or P 143,275.00 is the maximum tental due PDAF. Accordingly, enclosed is BP! Check _ No. 0000107604 dated April 23, 2002, payable to PDAF in the amount of P 143,275. b) Renewal Period: extension of the term of iease fer a period of twenty-five (25) years commencing on 01 January 2003 ( Agreement, paragraph 7). In view of the foregoing and with the tender of the amount of P 143,275.00 herein, Sunvar has fully paid the rentals due to PDAF both for the initial twenty-five (25) year period and the renewal period of another twenty-five (25) years. Please be advised that segment four (4) of the second (2%) portion of the leased premises is doomed included in this notice of tenewel. The rentals on the afore-said portion have been fully paid by Sunvar although the sublease was not covered by a seperate written agreement between Sunvar and PDAF. This is also to formally apprise you that Sunvar will be serving written notice of renewal of the Contract upon the National Government and Napocor as your duly constituted attomey- in-fact pursuant to the Agreement (Agreement, paragraph 11). Very truly yours, SUNVAR REALTY DEVELOPMENT CORPORATION CO nen Js Rep CARLOS 8. RUFINO. President By: lopment corporation snigpines 1200 iQukyineenet