LEASE CONTRACT

KNOW ALL MEN BY THESE PRESENTS:

This Lease Contract (“Contract”), made and entered into this ___ day of ____________
here at Brgy. Anupul, Bamban, Tarlac by and between:

_________________________, of legal age, Filipino, married, with residence and postal

address at __________________________________________________, hereinafter referred to
as the LESSOR;

- and -

_________________________, a corporation duly organized and existing under and by

virtue of the laws of the Republic of the Philippines, operating under the name and style of
_________________________, with business address
at__________________________________________________, represented herein by
_________________________with residence and postal address at #2417
__________________________________________________, hereinafter referred to as the
LESSEE.

WITNESSETH: THAT –

WHEREAS, the LESSOR is the lawful owner of a property located at

__________________________________________________ hereinafter referred to as
“Property”.

WHEREAS, the LESSEE desires to lease the LESSOR`s Property with a total floor area
of more or less ________________________________________________, hereinafter referred
to as “Leased Premises”, and the LESSOR is willing to lease the same to the LESSEE;

NOW THEREFORE, for and in consideration of the foregoing premises, and by mutual
covenants between the parties, the LESSORE hereby lease unto the LESSEE and the LESSEE
hereby accepts the lease from the former subject to the following terms and conditions:

1. TERM OF LEASE – This Contract shall have a term of Three (3) years commencing on
November 18, 2019 and expiring on October 18, 2022. Provided however that after its
expiration, this contract can be extended or renewed only upon the expressed approval of
the LESSOR and LESSEE, under such terms and conditions as may be mutually agreed
upon by the two parties.

2. PRE-TERMINATION – The LESSEE shall not be bound by the term of the Contract
and shall be given the right to terminate the Contract and vacate the Leased Premises at
any time within the term of the lease on its sole discretion due to business or economic
reason as may be determined by the management of the LESSEE. For this purpose, the
LESSEE shall serve a written notification to the LESSOR of Thirty (30) days prior to the
said termination. Without any forfeiture of its deposits/monies in the custody of the
LESSOR.

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3. As agreed by the LESSOR and LESSEE, there will be a Thirty (30) days free rental after
the turn-over of the said commercial space from LESSOR to LESSEE. Start of the
monthly payment obligation is after 30 days free rental.

4. RENTALS – The LESSEE binds himself to pay the LESSOR a monthly rental of
FORTY FIVE THOUSAND (Php45,000.00) PESOS, net of all expense, such as but
limited to Taxes, Electric, Water, Telephone Bills and others, exclusive of VAT of 12%
and subject to applicable withholding tax. The monthly payment of (Php45,000.00) shall
be paid by the LESSEE every 18th day of the month without need of notice and demand
starting November 18, 2019 onwards for the next THREE (3) years.

5. First payment of the month rental amounting to FORTY FIVE THOUSAND

(Php45,000.00) PESOS, will be on December 18, 2019. Any rental not paid when the
amount is due shall earn interest at the rate of five (5) percent every month from the date
it is due until full paid.

6. There will be no escalation per in the contract on the said commercial space:

The rental fee shall be payable by the LESSEE through post-dated checks for a
period of one (1) year dated every 18th day of each month. The post-dated checks
shall be delivered by the LESSEE to the LESSOR.

7. ADVANCE RENTAL AND DEPOSIT – The LESSEE shall pay the amount of ONE
HUNDRED THIRTY FIVE (Php135,000.00) PESOS, exclusive of VAT of 12% and
subject to applicable withholding taxes. Two (2) month deposits of NINE THOUSAND
(Php90,000.00) PESOS and one (1) month advance of FORTY FIVE THOUSAND
(Php45,000.00) PESOS, payable upon signing the Contract.

The deposit shall be reserved for the payment of the following contingencies:

a. Payment for the damages and repairs within the premises caused by the LESSEE,
its employees, clients or visitors or anyone who gained access to the leased
premises as authorized by the LESSEE, except normal wear and tear; and
b. Any Unpaid bills for electricity, telephone, water and all dues and fees owing to
the LESSOR by reason of lease premises.

8. Upon mutual agreement by the LESSOR and the LESSE, on the determination of the
total charge-off, the amount of deposit after netting out items 7.a & 7.b above shall be
remitted by the LESSEE within 30 days from date of actual determination of the lease
without a necessity of a demand.

9. PROHIBITION ON ASSIGNMENT AND SUBLEASE – The LESSEE is expressly

prohibited from assigning any of its rights under the contract of lease or from subleasing
any portion of the Leased Premises without the written consent of the LESSOR. The
LESSEE is prohibited from accepting whether for a fee or graciously, any boarder or bed
spacer on the leased premises; except the company`s security`s guard/s or personnel
authorized to safeguard the company assets & inventory.

10. USE OF THE LEASED PREMISES

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 a. The Leased Premises shall be exclusively used for _________________________
purposes only. The Leased Premises must not be used for residential purposes nor
shall be used as a bedroom without prior written permission from the LESSOR.

The LESSOR warrants and represents that the Leased Premises are in good and
tenable condition subject to necessary renovation to make it suitable for the
LESSEE`s business operation.

b. The LESSEE shall use only electrical or LPG stoves or ranges for cooking
purposes, and shall refrain from keeping explosives or other flammable materials
in the Leased.

c. The LESSEE shall at all times, keep the Leased Premises in the habitable and
clean condition, using the same with minimum wear and tear.

d. The LESSEE shall not permit or allow any rubbish or waste material or products
to accumulate in the leased premises and to keep the sewage system thereof lean
and free form obstruction at all times.

11. UTILITIES – The LESSEE shall pay and be accountable for all charges pertaining to
water, electricity, telephone and other utility services in the Leased Premises.

12. COMPLIANCE WITH LAWS, RULES and REGULATIONS – The use by the
LESSEE of the Leased Premises shall, at all times and in all respects, be in strict, full and
legal compliance with all applicable laws ordinances, rules and regulations, now or as
may be hereafter be in force, and at the accountability and responsibility of the LESSEE.

The LESSEE shall hold the LESSOR free and harmless from any suit or claim arising
from and connected with, the condition, use and employment of the Leased Premises.

13. REPAIR and MAINTENANCE – the LESSEE shall repair promptly, at its expense,
any damage to the leased premises or any other improvement within the building caused
by the bringing into the leased premises of any property for the LESSEE`s use or by the
installations or removal of such property regardless of who is at fault or who caused the
damage, unless such was clearly caused by the LESSOR or its agents or by fire and/or
force majeure such as but not limited to earthquake, flood and other circumstances
beyond the control of the LESSEE, in which case it shall be for the account of the
LESSOR.

The LESSEE must notify the LESSOR immediately of any damage to the leased
premises, the appurtenances as well as any occupation, usurpation or untoward act being
committed or threatened to be committed within the leased premises, and the LESSOR
shall undertake to repair or do the appropriate action to ensure the LESSEE`s peaceful
occupation.

14. PERMANENT IMPROVEMENT AND ALTERNATIONS – The LESSEE shall not

make any alternation or improvement on the leased premises without prior written
consent of the LESSOR or his Attorney-in-Fact or authorized representative, such
consent shall not be unreasonable withheld by the LESSOR. All authorized
improvements made on the leased premises, which cannot be removed without defacing
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 the leased premises, shall become property of the LESSOR at the expiration of the
Leased Contract without any reimbursement. LESSEE shall not drive any nail, screw,
hooks or other abutments into the wall ceiling or floor on the leased premises which will
in any manner deface or damage any part of the leased premises without the consent of
the LESSOR which the latter shall unreasonably withheld.

The LESSOR is hereby authorized to remove or restore any unauthorized alternation or

improvement on the leased premises which shall be for the account of the LESSEE.

15. STORE SIGNAGE AND STREAMER – Subject to prior written consent of the
LESSOR, the LESSEE shall install, erect or affix upon the Leased Premises, signs or
advertisements as may be necessary to promote and/or advertise the business in which it
is engaged.

16. INSPECTION OF THE LEASED PREMISES – During reasonable hours of the day,
the LESSOR or their duly authorized representatives, may enter upon the Leased
Premises for the purpose of ascertaining whether the LESSEE is complying with the
terms and condition of the Contract of Lease.

17. Upon termination of the Contract of Lease or its rescission, the LESSEE hereby binds
himself to peacefully surrender possession of the leased premises within thirty (30) days
from demand thereof.

18. TERMINATION – Upon the termination of this contract of lease, either by the
expiration of the term of lease as provided, or by the failure of the LESSEE to comply
with his obligations herein, the LESSEE shall vacate and turnover the possession on the
leased premises to the LESSOR, and in case of default or delay the LESSEE shall be
liable to the LESSOR by way of liquidated damages, for the sum of THREE
HUNDRED FIFTY (Php350.00) PESOS per day, from the date the obligation to so
vacate and turnover possession accrues until full and final compliance, in addition to the
stipulated rentals and such other damages that may result from such default or delay on
the part of the LESSEE.

19. EXPLANATION TO THE LESSEE – The LESSEE hereby certify that the terms and
conditions of this contract of lease have been fully explained to him by the LESSOR and
he is fully aware of the consequences of the various provisions of this contract of lease.

20. SALE OR MORTGAGE – The LESSOR reserves the right to mortgage, sell or
otherwise dispose of or encumber the property herein leased: Provided, however, that the
LESSOR shall ensure that the LESSEE`s rights under this Contract shall be respected.

In the event that foreclosure proceedings are instituted during the period of this lease,
either party may rescind this Contract, should the Leased Premises become no longer
useful for the purpose of this lease, upon giving other party thirty (30) days’ notice in
writing thereof. In case of such foreclosure proceedings, the LESSOR hereby
unconditionally relieves and releases the LESSEE from and all liability under this
Contract relative to its pre-termination, without prejudice to whatever recourse the
LESSEE may have against the LESSOR for damages caused by disruption of business or
caused by the needed transfer of the LESSEE to another location for business.

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 21. AMENDMENTS – This contract of lease may not be altered or modified except by
written amendments duly subscribed by the parties herein.

22. VENUE – Any suit that may be brought by reason of the enforcement or interpretation of
the contract of lease shall be brought and commenced only with the proper courts of
Tarlac City.

IN WITNESS WHEREOF, the PARTIES have hereunto set their hands this
________________ at _______________________, Philippines.

Lessor Lessee
TIN: __________________________ TIN: ________________________

As represented by:

_________________________

REPUBLIC OF THE PHILIPPINES)

PROVINCE OF _____________ : S.S.
MUNICIPALITY OF _________ )

ACKNOWLEDGMENT

BEFORE ME, a Notary Public for and in the _______________________ on this

________________, personally came and appeared _________________________ and
_________________________, whose positive identification cards are written above below their
respective names and signatures, known to me and to me known to be the same persons who
executed the foregoing instrument and acknowledged before me that the same is their free act
and deed.

This instrument refers to LEASE CONTRACT and consists of five (5) pages, including
this page whereon this acknowledgement is written, signed by the parties and their instrumental
witnesses on each and every page thereof.

WITNESS MY HAND AND SEAL.

Doc. No. _____;

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

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