CONTRACT OF LEASE

KNOW ALL MEN BY THESE PRESENTS:

This Contract of Lease made and entered into this _____ day of __________ 2019 in
Muntinlupa City, Philippines, by and between:

____________________, of legal age, Filipino and with postal

address at
________________________________________________, Metro
Manila, Philippines, hereinafter referred to as the “LESSOR”.

and

___________________, of legal age, _________________ and

with postal address
at_______________________________________________________
____, hereinafter referred to as the “LESSEE”.

WITNESSETH That:

WHEREAS, the LESSOR is the registered, legal and absolute owner of a condominium unit
situated at Unit _______________ Building, Amaia Steps, Alabang-Zapote Road, Las Pinas
City.

WHEREAS, the LESSEE desires to lease the subject condominium unit, and the LESSOR is
willing to lease the same unto the LESSEE, subject to the terms and conditions herein
specified.

NOW THEREFORE, for and in consideration of the foregoing premises and the mutual
covenants and agreements hereinafter set forth, the LESSOR agrees and consents to lease
unto the LESSEE the subject condominium unit, including the contents found therein,
hereinafter referred to as the “LEASED PREMISES”, under the following terms and conditions:

1. TERM :

This contract of lease shall be for a guaranteed period of one (1) year commencing on
_________________ to _______________. This lease may be renewed for another year upon
mutual agreement of both parties. The LESSEE shall signify its intention to renew by written
notice thereof to the LESSOR sixty (60) days prior to the expiration of this Contract of Lease.

2. RENT :

The parties herein agree that the monthly rental for the Lease Premises shall be Philippine
currency: _________________________ Philippine Currency (PHP__,__________.00) exclusive of
the association dues.

The LESSEE shall pay the LESSOR the sum of One Hundred Eighty Thousand Pesos Philippine
Currency (PHP_________________.00) representing _____ (____) months advance rental upon
signing of this contract.

The LESSEE shall issue ______________________ to the LESSOR, amounting to

_________________________________________________ (PHP ___,____.00) also upon signing of
this contract without necessity of demand.

3. SECURITY DEPOSIT :

Along with the signing of this Contract of Lease, the LESSEE, shall pay with the LESSOR the
sum ___________________________________ Pesos Philippine Currency (PHP
__________,__________.00) representing the two (2) months security deposit, which shall be
held without interest by the LESSOR as security deposit and shall be applied by the same to
guarantee the LESSEE’s performance and his obligation under this Contract; to answer for
any damage to the Leased Premises which is beyond normal wear and tear and
attributable to the fault and negligence of the LESSEE; members of his household or his
employees, agents or guests, such as, but not limited to, scratches on the wooden floor,
broken tiles, maintenance and repair or replacement of unserviceable part/s of the air
conditioning units, water heater and other appliances as listed in “Annex A”, cleaning and
janitorial services and expenses to restore the Leased Premises to its original condition as
when received by the LESSEE from the LESSORS, normal wear and tear excepted, and to
settle charges to the LESSEE’s account which may be left unpaid at the termination of the
lease, such us, but not limited to, charges of water, electricity, internet charges, telephone
bills, sanitation and garbage fees.

The LESSOR shall refund to the LESSEE any unapplied balance of the Security Deposit within
sixty (60) days from the expiry or termination of the lease without interest provided all
charges for the LESSEE’s account arising from this Contract shall have been settled then.

Provided that, the amount of the Security Deposit shall not be made a measure of the
LESSEE’s liabilities, who shall remain liable to the LESSOR in case the said deposit proves
inadequate. Provided further, that the LESSEE shall not apply the security deposit as
payment of rent in any case whatsoever.

4. DEFAULT PAYMENT :

In case of default by the LESSEE in the payment of the rent, such as but not limited to
dishonored checks, the LESSOR at its option, terminate this contract and eject the LESSEE.
The LESSOR shall padlock the premises and turn off the utilities when the LESSEE is in default
of payment for one (1) month. The LESSOR shall likewise forfeit the security deposit given by
the LESSEE.

5. USE OF THE LEASED PREMISES :

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The LESSEE shall use the Leased Premises exclusively and solely for residential purposes only.
The LESSEE is allowed to sub-lease or otherwise alienate the leased premises or any portion
thereof provided there is written consent from the LESSOR. The LESSEE shall not permit, or
suffer to commit upon the Leased Premises any disturbing noise caused by himself or any
person(s) under his control, which would interfere with the comfort of the neighbors.

6. RESIDENTIAL PURPOSE :

The LEASED PREMISES shall be used solely for residential purposes of four (4) occupants by
an assignee of the LESSEE previously approved by the LESSOR. By no means shall the LESEE
allow any additional persons to occupy the LEASED PREMISES. Guest/s staying over five (5)
days without the written consent of the LESSOR shall be considered a breach of this
Contract. Penalties and sanctions shall apply.

7. UTILITIES :

Charges for the electricity, water, telephone, internet service, and garden maintenance,
and other services rendered in the LESSEE’s favor shall be for the LESSEE’s account.

8. FIXED IMPROVEMENTS :

The LESSEE shall not make any changes, alterations and/or improvements in the Leased
Premises without the written consent and approval of the LESSOR. However, any
permanent improvements or those improvements which cannot be removed or detached
from the LEASED PREMISES without defacing or causing damage to the Leased Premises
introduced by the LESSEE in the LEASED PREMISES with the written consent and approval of
the LESSOR shall upon the termination of this Contract automatically become the property
of the LESSOR without any obligation on the latter’s part to pay or refund its value or cost to
the LESSEE.

The LESSEE shall not drill holes in any part of the wall of the LEASED PREMISES without the
written consent of the LESSOR. The LESSEE at the termination of this Contract shall restore
any drilling of holes to its original condition.

9. MOVABLE IMPROVEMENTS :

The LESSEE may install movable furnishing, appliances, and decorative items within the
Leased Premises, which shall remain the property of the LESSEE. The LESSEE shall take care
that the removal of these items shall not cause damage to the Leased Premises.

10. SANITATION AND REPAIRS :

The LESSEE has inspected the Leased Premises and found the same to be in good and
tenantable condition.

All major repairs on the Leased Premises, including its equipment, structures, plumbing,
electrical and sewage installation, except repairs due to the fault and negligence of the

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LESSEE, members of his household, or his guests shall be for the account of the LESSOR. In
case of a need of a major repair, the LESSOR shall undertake to begin the works within
seven (7) days from receiving notice from the LESSEE. Failure of the LESSOR to commence
work within said time shall give LESSEE the option to have the works done by a contractor of
its own choice and charge the LESSOR for the costs.

The LESSEE shall at its own account, be responsible for the daily upkeep and maintenance
of the Leased Premises, including its gardens and other live vegetation, and shall keep the
same in clean and sanitary condition at all times. In this regard, the LESSEE shall appoint a
contractor of his own choice. All minor repairs on the Leased Premises, as well as repairs,
whether major or minor, arising from the fault or negligence of the LESSEE or members of his
household or his guests shall be for the LESSEE’s account.

For the purpose of this clause, all repairs costing TEN THOUSAND PESOS (PHP 10,000.00) or
less per occurrence shall be deemed minor repairs and for the account of the LESSEE.

Provided, however, all latent repairs, whether minor or major, which may arise within the
first seven (7) days of the lease terms shall be for the LESSOR’s responsibility and for his
account, except repairs arising from the fault or negligence of the LESSEE or members of his
household or his guests.

11. CONDOMINIUM ASSOCIATION RULES AND REGULATIONS :

The LESSEE at all times observe and comply with the pertinent rules and regulations
promulgated by the proper authorities and by the Amaia Steps Condominium Association
with respect to the occupancy of the Leased Premises.

12. FIRE HAZARD AND ABNOXIOUS SUBSTANCES :

The LESSEE shall not keep, deposit or store in the premises any obnoxious substance or
highly flammable substance like kerosene, etc. that might constitute a fire hazard. Nothing
in this clause prohibits the LESSEE from using or storing LPG or cooking gas. It being
understood, that should the LESSEE do so, not only shall the latter be responsible for all
damage with such violation may cause the LESSOR and/or his neighbors.

13. PEST CONTROL :

The LESSOR shall retain the services of a reputable pest control organization to ensure the
extermination or protection against termites. The LESSEE shall also retain the services of a
reputable pest control organization to ensure the extermination or protection of the Leased
Premises against other pests, such as rats, mosquitoes, cockroaches, ants, wood borers,
etc.

14. TAXES AND INSURANCE :

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Real estate and government assessment shall be for the LESSOR’s account. Withholding tax
and VAT, if any shall also be for the LESSOR’s account.

Either party to this Contract of Lease at his option and interest secure an appropriate
insurance policy over their respective insurable interest on the premises subject of this lease
and in case of occurrence of even insured against, resulting in either partial or total loss of
damage to the Leased Premises, neither the LESSOR nor the LESSEE shall be personally
liable, therefore, so much that the party that decided not to secure an insurance policy
shall shoulder his own damage and shall hold other party free from such liability.

15. THIRD PARTY LIABILITY :

The LESSEE during the occupancy of the Leased Premises shall hold the LESSOR, its directors,
officers, agents and/or representatives, his agents and/or representatives free and harmless
from any from any damage or liability to any person or property arising out of as a
consequence of the use of the leased property by the LESSEE, his agents, employees,
domestic help and guests and/or occupants of the leased premises regardless of age
except when the damage or liability is caused by the negligence or the acts of the LESSOR
or his agents.

When such damage or liability is caused by fortuitous events or acts of God, such as flood
and earthquake, which are beyond the control of the LESSEE, the latter shall not be liable
to the LESSOR.

16. INSPECTION OF THE LEASED PREMISES :

The LESSEE shall maintain the premises in good and tenantable condition and for such
purpose the LESSOR or their representatives reserve the right at reasonable times and with
at least two (2) days advance written notice to enter and inspect the premises and to
make necessary repairs thereof.

17. ENCUMBRANCES OF PREMISES :

The LESSOR reserves the right to mortgage, sell, transfer or otherwise dispose of the
property. The LESSEE binds itself to allow the LESSOR or its representative to enter the Leased
Premises together with the prospective buyers at reasonable hours and with prior notice.

In the event of sale, transfer, or mortgage, or encumbrance of the same, the LESSOR shall
advise in writing their purchaser, mortgagee, and encumbrance that all the terms and
conditions or this Leased Agreement including any provisions for renewal thereof shall be
respected.

18. FORFEITURE CLAUSE :

The term of lease for the LEASED PREMISES is guaranteed for a period of one (1) year
renewable thereafter. In case the LESSEE decides to pre-terminate the Contract of Lease
and vacate the LEASED PREMISES, the unused rental portion for the remainder of the year
and two (2) months security deposit shall be forfeited as liquidated damages in favor of the

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LESSOR without prejudice to the provisions of Paragraph Three (3) of this contract. All
unpaid utilities and incidentals shall be for the account of the LESSEE.

19. CALAMITIES :

Should the Leased Premises or any part thereof be partially or totally destroyed or rendered
untenantable by fire, war, civil disturbance, earthquake, floods, or any other calamity,
either part shall have the right to terminate the lease forthwith, with no further obligation on
the part of the LESSEE to pay rent, unless the LESSORS promptly furnish the LESSEE another
property equally suitable and acceptable to the LESSEE.

However, in case of partial untenantability only, the LESSEE may elect to stay in the Leased
Premises and pay a proportionally reduced rent acceptable to the LESSEE, while and until
the LESSOR shall have restored the Leased Premises to its original condition. In case of
termination due to the above causes, the LESSOR shall have refund to the LESSEE the
unapplied portion of the rent advance within sixty (60) days from receipt by the LESSOR of
the notice of termination.

20. EXHIBITION AND RETURN OF THE LEASED PREMISES :

In the absence of renewal or extension of the lease, the LESSEE shall allow the LESSOR’s
representative to hang a “For Rent” sign upon the Leased Premises and exhibit the same to
prospective tenants during the sixty (60) days immediately prior to the expiration or
termination of the Lease and with prior notice to the LESSEE.

Upon the expiry or termination of this lease, the LESSEE shall immediately and peacefully
surrender the possession of the Leased Premises to the LESSOR, in the same good, clean
and sanitary condition as when originally received, ordinary wear and tear excepted,
devoid of all occupants, furniture, equipment and articles and personal effects of any kind
which exclusively belong to the LESSEE.

21. CHANGE OF TERMS AND INCREASE OF STANDING CHARGES :

In the event of renewal or extension of this Contract, the LESSOR may opt to increase the
monthly lease/rental rate provided there is a written notice of at least thirty (30) days
before the expiration of the original Contract to the LESSEE. Refusal of the LESSEE shall be
taken as an express notice of termination of this Contract where terms and conditions to
security deposit and proper turnover of LEASED PREMISES shall apply.

21. ENTIRE AGREEMENT :

This Contract of Lease embodies the entire agreement between the parties and any
agreement hereafter made shall be in effect unless put in writing and signed by both
parties hereto. The Contract of Lease shall be binding upon the parties hereto and their
respective heirs, executors, successors, representative and assigns.

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22. GOVERNING LAWS AND VENUE :

This Contract of Lease shall be governed by and construed in accordance with laws of the
REPUBLIC OF THE PHILIPPINES. Any action or proceeding by either of the parties herein
against the other shall be filed in the proper court of Las Piñas City.

23. VIOLATION AND BREACH :

Any material breach or violation of the term provided for in the contract on the part of the
LESSEE shall be sufficient ground for ejectment of the LESSEE and/or occupants of the
Leased Premises.

IN WITNESS WHEREOF, the parties hereto have set their hands on the date at the place first
above-mentioned.

___________________________ _____________________________

LESSOR LESSEE

SIGNED IN THE PRESENCE OF:

___________________________ ____________________________

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 ACKNOWLEDGEMENT
REPUBLIC OF THE PHILIPPINES )
CITY OF ___________________ ) SS:

BEFORE ME a Notary Public, for and in ____________________, Philippines, this ___ day of
_____________________, 2018, personally appeared the following persons:

Name ID/Passport No. Date/Place of Issue

_____________________ _____________________ ___________________

_____________________ _____________________ ___________________

Known to me and to me known to be the same persons who executed the foregoing
instrument and they acknowledged to me that the same is their free and voluntary
act/deed. This lease contract consists of _____ pages including Annex A (List of Furniture
and Appliances), and the page on which this acknowledgement is written and signed by
the parties and their instrumental witnesses at the upper portion of this page and on the left
hand margin of all the other pages. In witness whereof, I have hereunto set my hand
affixed my notarial seal on the date and place first above written.

Doc. No. ____; Notary Public

Page No. ____;
Book No. ____;
Series of 2019.