CONTRACT OF LEASE

KNOW ALL MEN BY THESE PRESENTS:

This Contract of Lease made and executed this 21st day of August 2019 at Taguig City, Philippines
by and between:

<lessor name>, of legal age, Filipino and with address at ____________________________,

hereinafter referred to as the “LESSOR”;

-and-

<LESSEE NAME>, of legal age, Filipino and with address at <LESSEE ADDRESS> hereinafter
referred to as the “LESSEE”.

WITNESSETH THAT:

WHEREAS, LESSOR is the lawful and absolute owner of a residential condominium unit identified
as <address> hereinafter referred to as the “Leased Premises”;

WHEREAS, LESSEE desires to lease the Leased Premises from the LESSOR.

NOW THEREFORE, for and in consideration of the foregoing premises and the mutual covenants
hereinafter set forth, LESSOR hereby leases, lets and delivers by way of lease, and LESSEE hereby
accepts the Leased Premises under the following terms and conditions.

1. PURPOSES. The premises hereby leased shall be used exclusively by the LESSEE for residential
purposes only and shall not be diverted to other uses. It is hereby expressly agreed that if at any
time the premises are used for other purposes, the LESSOR shall have the right to rescind this
contract without prejudice to its other rights under the law.

2. LEASE TERM – The term of the lease shall be for a period of one (1) year commencing on
<START DATE> to <END DATE> (the “Lease Term”) renewable at the option of the LESSOR and
under such terms and conditions as may be mutually agreed upon in writing by the parties
hereto. Written notice of intention to renew the lease shall be served to the LESSOR not later
than fourteen (14) days prior to the expiry date of the period herein agreed upon.

3. RENT – The monthly rental shall be in the amount of FOURTEEN THOUSAND FIVE HUNDRED
PESOS (P14,500.00), Philippine currency, inclusive of dues, to be paid within every <agreed
settlement date> of the month without need of any demand for notice. All rental payments shall
be payable to the LESSOR.

The parties herein agree that LESSEE shall, upon execution of this Contract of Lease, give to the
LESSOR post-dated checks for the rentals of the remaining months after the application of the
 Advance Rent, the schedule of rent and details of post-dated checks are contained in the
attached Annex “A”.

4. ADVANCE RENT – Upon execution hereof, the LESSEE agrees to pay LESSOR the amount of
FOURTEEN THOUSAND FIVE HUNDRED PESOS (P 14,500.00), Philippine Currency, representing
Advance Rental which shall be applied for the first month (<START DATE> to <END DATE>).

5. SECURITY DEPOSIT – Upon execution hereof and prior to move-in, the LESSEE shall pay the
LESSOR an amount equivalent to the rent for TWO MONTH, or the sum of TWENTY NINE PESOS
(P29,000.00), Philippine currency, as and by way of Security Deposit.

The Security Deposit shall serve as security for the faithful performance by the LESSEE of its
obligation under this Contract of Lease, to answer for any unpaid utilities and charges, and to
cover for whatever damages may have been caused on the Leased Premises or resulting from
violation(s) of any of the provision of this contract or for cleaning the Leased Premises upon
termination or expiration of the lease. The Security Deposit or the balance thereof after
application of unpaid utilities/charges and damages, if any, shall be refunded to LESSEE without
any interest sixty (60) days after termination of this Contract of Lease.

In case of renewal or extension of the Lease Term, the Security Deposit shall be adjusted to
correspond to the new lease rental and which adjusted shall be made payable to the LESSOR by
the LESSEE within ten (10) days from date of renewal or extension.

6. DEFAULT PAYMENT: In case of default by the LESSEE in the payment of the rent, such as when
the checks are dishonored, the LESSOR at its option may terminate this contract and eject the
LESSEE. The LESSOR has the right to padlock the premises when the LESSEE is in default payment
for One (1) month and may forfeit whatever rental deposit or advances have been given by the
LESSEE.

7. SUB-LEASE: The LESSEE shall not directly or indirectly sublet, allow or permit the leased
premises, or any part thereof, to be occupied in whole or in part by any person, form or
corporation, neither shall the LESSEE assign its rights hereunder to any other person or entity
and no right of interest thereto or therein shall be conferred on or vested in anyone by the
LESSEE without the LESSOR’s written approval. Any violation of this provision shall be ground for
immediate termination of this Contract and the LESSOR has the right to padlock the premises
and forfeit whatever rental deposit or advances have been given by the LESSEE.

8. UTILITY CHARGES – All utility services such as electricity, water, telephone, internet and cable
subscription in or within the Leased Premises during the term of this lease shall be for the
exclusive account of LESSEE. Other special assessments that may be imposed by the
Condominium Corporation shall likewise, be for the exclusive account of LESSEE. Any violation of
this provision shall be ground for immediate termination of this Contract and the LESSOR has
the right to padlock the premises and forfeit whatever rental deposit or advances have been
given by the LESSEE.
9. REAL ESTATE TAXES – Real estate taxes on the Leased Premises shall be for the sole account of
LESSOR.

10. USE OF LEASED PREMISES / MASTER DEED OF RESTRICTIONS AND BUILDING HOUSE RULES
AND REGULATIONS – The LESSEE shall use the Leased Premises exclusively for residential
purposes only. The LESSEE agrees to observe and comply with the Master Deed of Restrictions
and Building House Rules and Regulations, as they may be amended from time to time, which
are deemed as written into this Contract and shall bind the LESSEE and any person occupying
the Leased Premises. Any violation of this provision shall be ground for immediate termination
of this Contract and the LESSOR has the right to padlock the premises and forfeit whatever
rental deposit or advances have been given by the LESSEE.

11. LESSOR’S RIGHT OF ENTRY: The LESSOR or its authorized agent shall after giving due notice to
the LESSEE, have the right to enter the premises in the presence of the LESSEE, or its
representative at any reasonable hour to examine the same or make repairs therein or for the
operation and maintenance of the building or to exhibit the leased premises to prospective
LESSEES or for any other lawful purposes which it may deem necessary.

12. KEY AND SECURITY. The LESSOR shall deliver to the LESSEE the keys of the Leased Premises
upon execution of the Contract of Lease. The LESSEE shall be responsible for the security of the
Leased Premises until all keys shall have been returned to the LESSOR. The LESSEE shall not
change the locks or add a deadbolt lock or any other fixture to the doors of the premises
without the consent of the LESSOR. In the event the LESSEE fails, for any reason, to return to the
LESSOR all keys at the expiration or termination of this Agreement, the LESSOR shall deduct
from the Security Deposit, or Advance Rental such amounts as may be required to replace the
locks and keys to enable the LESSOR to secure the Leased Premises, or to repair any damage to
the walls, doors or other surface of the Premises.

13. MAINTENANCE AND REPAIRS – The LESSEE shall keep the Leased Premises in good, clean and
sanitary condition. The LESSEE hereby acknowledges that it has inspected the Leased Premises
and found the same to be in a good habitable and tenantable condition.

In the event that the Leased Premises is delivered to LESSEE furnished or semi-furnished, LESSEE
further hereby acknowledges that the fixtures, appliances and other movable items indicated in
the attached list as Annex “B”, are in good and usable condition, and shall maintain as such
during the duration of this Contract of Lease.

The LESSOR shall be responsible for all major repairs on the Leased Premises such as repairs on
the water, electrical and sewage installations caused by ordinary wear and tear, except when
such repairs arise from damage caused by or due to the fault or negligence of the LESSEE,
members of its household, guests, or visitors, in which case, the same shall be for the account of
the LESSEE and shall be considered a violation of this Contract. The LESSEE shall immediately
 report to the LESSOR any major repairs to avoid further damage to the Leased Premises. Minor
repairs on the Leased Premises, on the other hand, shall be for the sole account of the LESSEE.

14. IMPROVEMENTS – The LESSEE shall not make any structural alterations, additions, or
improvements in the Leased Premises without the written consent of the LESSOR, provided
however, that all such authorized alterations, additions, or improvements made by the LESSEE
shall upon termination of this Contract of Lease become the property of the LESSOR and shall
remain upon and be surrendered with the Leased Premises as a part thereof without any
obligation on the part of the LESSOR to pay or refund its value or cost to LESSEE. Nothing shall
be affixed, attached, hung, or installed to or upon the Leased Premises without the prior written
consent of the LESSOR. Any defacement or damage to the Leased Premises shall be repaired by
the LESSOR at the expense of the LESSEE and/or the Security Deposit and/or the Advance
Rentals and shall be considered a violation of this Contract.

15. FIRE HAZARD and OBNOXIOUS SUBSTANCES – The LESSEE shall not keep or store in the Leased
Premises any obnoxious substance or inflammable materials, which may constitute fire hazard.
Any violation of this provision shall be ground for immediate termination of this Contract and
the LESSOR has the right to padlock the premises and forfeit whatever rental deposit or
advances have been given by the LESSEE.

16. THIRD PARTY LIABILITY – The LESSEE, during occupancy of the Leased Premises shall hold the
LESSOR free and harmless from any damage, liability or responsibility to any person or property
arising out of or as a consequence of the use of the Leased Premises by the LESSEE, member of
its household, employees, agents or guests.

17. NON-LIABILITY OF LESSOR. The LESSOR shall not be liable for any loss, damage or inconvenience
which the LESSEE may sustain in the premises due to any cause whatsoever, including the
following:
a. Absence, failure, breakdown or telephone service or electric current.
b. Fire of fortuitous events, theft, robbery or other crimes and misdemeanors.

In the event of any disruption from time to time of the services provided to the LESSEE that is
not due to the acts or omissions of the LESSOR, the LESSEE shall not suspend payment of any
money hereunder nor deduct nor reduce any payment nor bring any action against the LESSOR.

In addition, the LESSOR shall not be responsible to the LESSEE or to the LESSEE’S servants,
agents or other persons in the Leased Premises for any accident or personal injury or damage to
or loss of any chattel or property sustained in the Leased Premises, the Building or parking
space.

Notwithstanding any other provision of this Contract, the LESSOR shall not be liable to the
LESSEE, nor shall the LESSEE have any claim against the LESSOR in respect of any obligation of
the LESSOR pursuant to this Contract (including but not limited to, interruption of the passenger
lifts or other lifts provided or any other interruptions in any of the operations hereinafter
 mentioned) by reason of necessary repairs to or maintenance of any installations, structures,
apparatus, damage thereto, or destruction which shall have been caused by fire, water, Act of
God, force majeure or other cause beyond the control of the LESSOR, or by reason of
mechanical defect, or any defect in supply of water and electricity or from surge, reduction,
variation, interruption or termination in supply of electrical power or water, breakdown or other
inclement conditions or unavoidable shortage of fuel, materials, water or labor.

18. SALE, TRANSFER OF RIGHTS, MORTGAGE OR SUBLEASE – The LESSEE shall not assign, sell or
transfer his leasehold rights to the Leased Premises or any part thereof in favor of any third
party whomsoever without the prior written consent of the LESSOR. Any violation of this
provision shall be ground for immediate termination of this Contract and the LESSOR has the
right to padlock the premises and forfeit whatever rental deposit or advances have been given
by the LESSEE.

In the event of sale, transfer, mortgage, or any other encumbrance of the Leased Premises or
any existing sale, transfer, mortgage or encumbrance of the same by the LESSOR, the LESSOR
shall warrant that the purchaser, mortgagee or encumbrance shall respect all the terms and
conditions of this Lease Contract including the provisions for renewal thereof. Notwithstanding
any conveyance of title over the Leased Premises to a third party, pursuant to or as a
consequence of any sale, transfer, mortgage or any encumbrance, the LESSOR shall however
continue to be bound by his undertaking in favor of the LESSEE to return o to reimburse to the
LESSEE any advance rentals subject to Section 16 hereof, and/or balance of the Security Deposit,
if any, unless such third party has expressly assumed in writing the LESSOR’S undertaking and
such assumption is accepted by the LESSEE.

19. NON-WAIVER – Failure of the LESSOR or the LESSEE to insist, in one or more instances, on the
strict performance of any of the covenants of this lease, or to exercise any of its rights herein
contained, shall not be construed as abandonment or cancellation or waiver of such covenants
or option. No waiver shall be deemed to have been made unless expressed in writing and signed
by the LESSOR or LESSEE.

20. TERMINATION OF CONTRACT – Either party may upon violation of any terms and conditions of
this Contract of Lease, terminate the same upon notice by the aggrieved party to the offending
party without prejudice to the legal remedies that the aggrieved party may avail under the
circumstances.
21. GUARANTEED LEASE – This Contract of Lease is guaranteed for one (1) year. In the event that
the LESSEE desires to terminate this Contract of Lease within the one (1) year period, the
LESSOR reserves the right to forfeit, the security deposit and advance rent.

22. INSPECTION OF PREMISES – The LESSEE shall allow the LESSOR or his duly authorized
representative to enter the Leased Premises at reasonable hours to undertake maintenance
and/or repair works.
 23. EXPIRATION/ TERMINATION OF LEASE and TURNOVER OF LEASED PREMISES – Upon
expiration/termination of this Contract of Lease for any reason whatsoever, LESSEE shall
immediately vacate and return possession thereof to the LESSOR in clean and orderly manner
and in the same food and tenantable condition, reasonable wear and tear expected, with all
corresponding keys. Non-compliance with the terms of this clause by the LESSEE will give the
LESSOR the right, at the latter’s option, to refuse to accept the delivery of the premises and
compel the LESSEE to pay rent at the same rate plus Twenty Five (25) % thereof as penalty until
the LESSEE shall have compiled with the terms hereof. The same penalty shall be imposed in
case the LESSEE fails to leave the premises after the expiration of this Contract of Lease or
termination for any reason whatsoever. Alternatively, the LESSOR has the right to remove the
effects of the LESSEE, padlock the premises and forfeit whatever rental deposit or advances
have been given by the LESSEE.

24. Sixty (60) days prior to the return of the Leased Premises, the LESSOR may show the Leased
Premises to prospective tenants during the said sixty (60) day period at reasonable time and
with prior notice.

25. BREACH OF CONTRACT – Any violation of this Contract of Lease on the part of the LESSOR or
LESSEE shall be sufficient ground for the termination hereof by the aggrieved party, without
prejudice to any claim arising therefrom, provided the defaulting party shall be given reasonable
time within which to remedy or cure the violation.

26. BINDING EFFECT – This contract shall be binding upon and inure to the benefits of the
successors-in-interest and assigns of both parties.

IN WITNESSETH WHEREOF, the parties hereto have hereunto set their hands at the place and as of
the date first above-written.

<LESSEE NAME> <lessor name>

LESSEE LESSOR

SIGNED IN THE PRESENCE OF

____________________________ ______________________________
 ACKNOWLEDGEMENT
REPLUBLIC OF THE PHILIPPINES

MAKATI CITY

BEFORE ME , a Notary Public for and in the above place and jurisdiction, this _________ day
of__________, personally appeared the following

NAME ID.NO

Lessor

<LESSEE NAME>

Lessee

Known to me and to me known to be the same persons who executed the foregoing document and
acknowledged to me that the same is their own free and voluntary act and deed.

This instrument consists of eight (8) pages including this page where the acknowledgement is
written and signed by the parties together with their instrumental witnesses on each and every page
thereof.

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

Doc. No.________

Page No.________

Book No.________

Series of 2019