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CONTRACT OF LEASE

KNOW ALL MEN BY THESE PRESENTS:

This CONTRACT OF LEASE is made and executed at the City of _____, this day of
_______________, 20__, by and between:

___________________________, Filipino, of legal age, married to


_______________________, both with residence and postal address at ________,
hereinafter referred to as the LESSOR.

-AND-

________________________, is a private company duly organized and


existing under Philippine law, with principal business address at
____________________ represented by _________________, Chief Executive
Officer of ______________________, and a resident of
_____________________________, hereinafter referred to as LESSEE.

WITNESSETH; That

WHEREAS, the LESSOR is the owner of commercial units situated at


________________________________________

WHEREAS, the LESSOR agrees to lease-out the property, specifically Unit 905 with
66 square meter and Unit 906 with 108 square meters, and the parking unit with 12.5
square meters, to the LESSEE and the LESSEE is willing to lease the same;

NOW THEREFORE, for and in consideration of the foregoing premises, the parties
hereby agree as follow:

1 - PERIOD

The Lease of the aforesaid premises shall be for a period of _____ commencing
on November 01, 2016 and ________. Any such renewal may be agreed upon at least
______ days prior to the termination of the original lease period. Unless a new
contract is entered into or any extension in writing as agreed by the parties herein, and
the LESEE continues to occupy the leased premises, it shall be clearly understood and
agreed that the terms of such occupance shall be monthly and subject to the terms,
conditions and restrictions of this contract.

The Lease period of this contract shall be that indicated in the fundamental
lease provisions, automatically termination on the date indicated thereto, without the
necessity for any previous notice, or for any judicial action of ejectment or rescission.

2 - RENTALS/DEPOSIT

For the duration of the lease, the LESSEE shall pay the LESSOR a monthly
rental of ___________ which shall commence on February 1, 2017. The rental shall
be payable on or before the ___ day of each month. Documentary Stamps for the
contract will be for the account of the LESSEE. A surety deposit equivalent to ____
months rent in the amount of ___________________(Php______) is due upon signing
of contract. During the lease period the security deposit can not be applied by
LESSEE for the payment of any unpaid rent. This deposit will be held intact but not
to earn interest and will be returned to lessee upon termination of contract and upon
settlement of all accounts. A surcharge of ___% per month will be imposed on late
payments.

3 - UTILITY CHARGES
The LESEE shall pay for and defray at its expense the consumption of
electricity plus 12% VAT less 2% witholding tax, water, telephone and other charges.
A common area dues of ______ (Php ___) per sqm will be charged.

4 - USED OF LEASED PREMISES

In no case shall leased office space be converted for dwelling, sleeping or


residential purposes. Under no circumstance shall stocks or materials of combustible
or explosive in nature be stored or placed in the leased premises; nor shall the same be
used in such a way as to increase the insurance rate and other governmental
requirements of the said premises.

5 - IMPROVEMENT

The LESSEE may at his discretion and expense, install additional lighting
fixture, vaults, telephone and other installations and make or introduce improvements
upon the leased premises, any and all of which may be removed by the said LESEE
upon termination of the lease, provided, that it can be done without causing
irreparable damage or injury to the leased premises and provided further that the said
premises be restore in the same condition as upon inception of the lease. Exception to
this are permanent improvements and fixtures which cannot be removed without
causgin irreparable damages or injury to the leased premises and such permanent
improvements and fixtures shall remain in the leased premises without any obligation
on the part of the LESSOR to reimburse the LESSEE of the cost thereof; provided,
however, that no major alterations or changes may be made on the premises without
the written consent of the LESSOR.

6 - SANITATION & REPAIRS

That during the occupancy of the lease premises by the LESSEE, all major
reparis involving the structural parts of the premises, walls, floors and the like, and
any structural alterations made necessary by changes in law, regulations and
ordinaces, shall be made by and at the expense of the LESSOR; while ordinary repairs
due to the usual day to day wear and tear as well as those attributable to the fault or
negligence of LESSEE, its agents, employees, customers, or guests shall be for the
LESSEE accounts, LESSOR reserves the right to be allowed access to the leased
premises during reasonable times of the day, after informing the LESSEE thereof.

7 - RETURN OF THE PREMISES

The LESSEE shall at the expiration of the term of the lease or cancellation of
this lease as herein provided, promptly deliver said premises to the LESSOR in good
and tenantable condition in all respects, reasonable wear and tear and damage by the
elements excepted after full settlement of all utitlity expenses incurred.

8 - TRANSFER OF RIGHTS

LESSEE shall not assign, sublease nor in any manner whatsoever transfer his
rights over aforesaid leased premises or any portion thereof without the prior written
consent of the LESSOR.

9 - FAILURE TO PAY RENT

In the event LESSEE fails to pay the agreed rent herein stipulated strictly in
accordance with the provisions specified herein or if LESSEE, in any manner
whatsoever, violates the terms and conditions of this lease contract, LESSOR shall
have the right to unilaterally rescind this contract, eject the lessee from the premises
and take possession of the leased premises even without court order.

10 - PRETERMINATION

In the even the LESSEE decides to terminate the lease before its expiration, the
rent for the unexpired period shall become due and demandable. No amendments
should be made on the contract in the period that the contract has not been fully
consummated.
11 - WARRANTY

LESSEE hereby warrants that at the time of signing of this contract, as well as
during the term hereof, he is financially capable of paying the monthly rates as well as
other obligations and charges provided for in this contract.

12 - BREACH AND DAMAGES

Upon the happening of any of the following events;

1. Default or breach in any of the following terms and conditions of this


Lease by LESSEE; or,

2. LESSEE shall become bankrupt or being a corporation shall go into


liquidation, or of LESSEE shall otherwise become insolvent

3. Upon expiration of lease period, then and in either or any such event it
shall be lawful for the LESSOR exercise any of the following cumulative rights
and remedies reserved to the LESSOR, without need of demand or notice or
resort to court processes:

A. To declare this lease terminated,

B. To proceed against the surety deposit and apply the same to the
purposes fo which it was constituted,

C. Time being the essence in the performance of this contract,


LESSEE hereby constitute LESSOR as its leased premise to be
opened in the presence of a peace officer to take inventories of
LESSEE'S merchandise, equipment's furniture's etc, and place the
same in LESSOR'S warehouse so that LESSOR can recover full
possession and enjoyment of said premises, with LESSEE
undertaking to pay all reasonable expenses incurred by the
LESSOR in connection with said removal and transfer of said
property including storage charges;

D. Upon failure of LESSEE to claim said property from storage within


thirty (30) days from update transfer, LESSOR is herevey given under said power-of-
attorney authority to dispose of said property in private sale and to apply the proceeds
thereof to whatever indebtedness or liabilities arising out said breach/default by the
LESSEE, and the balance, if any, shall be turned over to LESSEE,

E. For and in the performance by LESSOR of its right of re-entry and


repossession under this said authority, LESSOR may so exercise the same without
resort to judicial processes and may use such reasonable force as may be necessary to
repossess and enjoy to lease premises; and LESSOR shall not incur civil and/or
criminal liabilities whatsoever as a resutl thereof;

13 - EFFECT OF VIOLATIONS

LESSEE hereby agress that all provisions contained in this contract shall be
deemed as conditions as well as covenant, and that this contract shall be automatically
terminated and cancelled without resorting to court action should LESEE violate any
or all said conditions including the payment of rent due within the time herein
stipulated and in such case, LESSEE hereby appoints LESSOR, its authorized
attorneys-in-fact, with full power and authority to open, enter, occupy, padlock,
secure, enclose, fence and/or discontinue utilities and otherwise take full and complete
physical possession and control of the leased premises without resorting to court
action.

14 - LITIGATION

In the event LESSOR is obliged to initiate a suit to enforce the terms and
conditions of this agreement, LESSEE hereby agress to be liable for attorney's fees in
the sum of _________ (__%) of the amount due as liquidated damages. Both parties
hereby agree that the proper courts setting in Cebu City shall have exclusive
jurisdiction over any litigation between the parties by virtue of this contract.

IN WITNESS WHEREOF, parties herein affixed their signatures on the date and
place above written.
By:

LESSOR LESSEE

Signed in the presence of:

________________________ __________________________

ACKNOWLEDGEMENT

Republic of the Philippines)

City of Cebu) S.S

BEFORE ME, this__________________, in the City of Cebu, Philippines, personally


appeared

Name Valid I.D Place Issued Date of Issue

All known to me to be the same person who executed the foregoing instrument
and they acknowledge to me that the same are their own free act and deed.

This instrument consisting of ____ page/s, including the page on which this
acknowledgement is written, has been signed on each and every page thereof by the
concerned parties and their witnesses, and and sealed with my notarial seal.

WITNESS MY HAND AND SEAL, on the date and place first above written.

Notary Public

Doc. No.______;
Page No. ______;
Book No.______;
Series of 20___.