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.                                                                                                         CONTRACT OF LEASE


This Contract of Lease, made and executed this _____ day of ________, 2005 at _________, by and between:
________________________, of legal age, Filipino and a resident of __________________, (hereinafter referred to as the “LESSOR”);

                                                               -and-

____________________, of legal age, Filipino and with resident address at______________, (hereinafter referred to as the “LESSEE”).

WITNESSETH:  That-

WHEREAS, the LESSOR is the owner of an Apartment identified as Unit 1 located at ___________________,  (the “Leased Premises”);

WHEREAS, the LESSEE desires to lease from the LESSOR, and the LESSOR has agreed to lease to the LESSEE, the Leased Premises;

NOW THEREFORE, for and in consideration of the foregoing premises and of the terms and conditions hereinafter set forth, the LESSOR
hereby leases the Leased Premises under the following terms and conditions.

ARTICLE I:     LEASED PREMISES

Section 1. Leased Premises

The Leased Premises subject of this Contract refers to the Apartment identified as Unit 1, Located at ____________________,
______________, Metro Manila.

The Leased Premises is already fitted with appropriate lighting, tile flooring, kitchen lavatory, kitchen tiles, kitchen cabinet, bathroom
fixtures such as water closet, bathroom lavatory, soap holder, tissue holder, exhaust system, faucets and shower head.

Section 2. Parking Space  

The Leased Premises comes with a (1 or 2 ) car garage for the exclusive use of the LESSEE.    

Section 3. Use of the Leased Premises  

The LESSEE hereby warrants and commits that the Leased Premises will be used by the LESSEE and his/her family (single family) for
residential purposes only and shall not be used for any other purpose without the prior written consent of the LESSOR.   



                             ARTICLE II: LEASE PERIOD          
Section 1. Lease Period

This Contract shall be for a period of one (1) year, commencing on ____________  and expiring on _______________, unless earlier
terminated pursuant to the terms of this Contract.

Section 2. Renewal or Extension of the Leased Period

The LESSOR may, at his/her sole discretion, extend or renew the lease beyond the Lease Period each for a period of one (1) year and
under such terms and conditions mutually acceptable to the parties hereto. On the third (3rd) month prior to the expiration of the Lease
Period, absent termination of this Contract for any cause pursuant to the provisions hereof, and without occurrence of any cause or
instance rendering the LESSEE in default hereof, the LESSEE shall have an option to communicate to LESSOR her/his intention to renew
or extend the lease, which renewal or extension shall be subject to the approval of the LESSOR.   

ARTICLE III: RENTALS, DEPOSIT AND DUES

Section 1. Monthly Rentals  

As consideration for the lease, the LESSEE shall pay the LESSOR a monthly rental of Pesos: ____________________
(Php___________) net of all applicable taxes payable every 15th day of the month and every month thereafter during the term of the
lease, without the necessity of demand or request and without any delay on any ground whatsoever. The monthly rentals for the entire
Leased Period shall be covered by post dated checks payable to and issued in the name of the LESSOR and to be delivered to  him/her
upon signing of this Contract.

Section 2. Unpaid Rentals  

Any monthly rentals which remain unpaid when due shall be subject to interest at the rate of three percent (3%) per month or a fraction
thereof, from due date until paid in full, without prejudice to any and all rights and remedies of the LESSOR under this Contract for non-
payment  or delay in the payment of rental.

In the event of non-payment of monthly rental or disappearance of the LESSEE, the LESSEE hereby allows the LESSOR as he/she
hereby appoints the LESSOR as his/her Attorney in Fact to enter or break into the Leased Premises and/or padlock the Leased Premises
and/or remove the improvements introduced by the LESSEE and all items contained therein shall be packed and shall be subject to sale
to the highest bidder in an auction at the Leased Premises and the proceeds shall be used to pay any remaining account to the LESSOR
and to pay for the cost of dismantling and expenses of packing and of the auction sale.  If there are proceeds left, the same shall be
delivered to the LESSEE upon written demand thereof.  After all the things of the LESSEE are removed, the premises shall be considered
vacant and may be leased to any other interested party.

Section 3. Security Deposit   

Upon execution and signing of this Contract, the LESSEE shall remit to the LESSOR Security Deposit equivalent to three (3) months
monthly rentals in the amount of Pesos: _____________________ (Php________) net of all applicable taxes through personal check of
the LESSEE payable to and issued in the name of the LESSOR.

The Security Deposit, at the sole option and discretion of the LESSOR, may be used to answer for unpaid obligations of the LESSEE to
the LESSOR under this Contract, including any damage to the Leased Premises arising from causes other than wear and tear; Provided
that, except for the proper application thereof upon completion of the Lease Period or termination by the LESSOR of this Contract, the
Security Deposit shall not be a substitute for payment of rental, utility or service charges, association dues or other fees or charges under
the lease.

The Security Deposit shall be updated and adjusted every year to conform with the prevailing rental rate. It shall answer at the end of the
lease for any unpaid bills for water, electricity, telephone, and damages to the Leased Premises solely attributable to causes other than
wear and tear and force majeure. Such damages and unpaid bill shall be deducted from the Security Deposit and the balance, if any,
shall be refunded to the LESSEE without any interest or charges, sixty (60) days after the termination or expiration of this Contract.      

Section 4. Association Dues

The LESSEE shall be responsible for the payment of annual association dues being charged by the __________________
Homeowners Association to every lessee or homeowner of the (name of subdivision or condominium).  Such amounts are used by the
Association for the continuous improvement of subdivision facilities, provision for security and garbage collection, among others. Failure
to pay such dues shall constitute breach and shall be a ground for the termination of this Contract.

ARTICLE IV: UTILITY AND OTHER SERVICE CHARGES

Section 1.  Payment of Utility and Service Charges

The LESSEE shall be responsible in the payment of utility and service charges assessed against or pertaining to the Leased Premises
including but not limited to water, telephone and electricity services now or which may hereafter be connected or installed in the Leased
Premises, including any interest, penalty and/or surcharges on such charges together with the costs of installation of wires, pipes, or
appliances which may be made after the execution of this Contract, shall be paid directly with the utility and service providers.

The LESSOR shall not be responsible for lack or interruption of utility services due to the failure or refusal of public utility companies or
service providers such as Meralco, Manila Water or Philippine Long Distance Telephone Company Inc. to provide services to the LESSEE
and shall not give LESSEE any right to claim damages or reimbursement against LESSOR for damages or losses incurred by the
LESSEE as a consequence thereof.

All electrical repairs and installation shall be undertaken exclusively by licensed electrician or licensed electrical contractor.

All repairs or replacements in the utility systems, including lighting facilities, water system such as faucets, originally provided by the
LESSOR in the Leased Premises shall be for the exclusive account of the LESSEE.

Section 2. Proof of Payment of Fees and Charges          

At the end of the Lease Period or any extension thereof, whichever is applicable or in the event of pre-termination of the lease pursuant to
the provisions in this Contract, the LESSEE shall not remove any of his/her fixtures, furniture, appliances and other movables found within
the Leased Premises until verification by the LESSOR of LESSEE’s proof of payment of all utility and charges and other fees and charges
under this Article which verification shall be completed and confirmation thereof issued no later than seven (7) days from the termination
of this Contract.  

ARTICLE V:  ALTERATION AND MAINTENANCE OF THE LEASED PREMISES

Section 1. Assignment and Sub-letting

The LESSEE shall not directly or indirectly transfer, convey, or mortgage or in any way encumber his/her right of lease over the leased
area or any portion thereof under any circumstances whatsoever.  Any violation made on this particular provision shall automatically and
equivocally terminate this Contract of Lease from the time such violation occurred.

Section 2. Alteration, Addition and Improvements  

a)  Prior Written Consent of the LESSOR - The LESSEE shall not make any major alterations in, additions to, or improvements upon, the
Leased Premises, including the electrical installation and plumbing installation thereon without the prior written approval of the LESSOR.
All such alterations, improvements or additions shall be done only in accordance with the plans and specifications previously approved
by the LESSOR.

For purpose of this Section, “alterations, additions or improvements” shall mean alteration, addition or improvement upon the Leased
Premises, the construction or building or installation of which costs at least Pesos: Five Hundred (Php500.00).

Any such alteration, addition and/or improvement made on the Leased Premises without any prior written consent of the LESSOR, those
not done in accordance with the plans and specifications approved by the LESSOR shall constitute a ground to declare a breach, without
prejudice to the effects of default under this Contract and any and all rights and remedies herein

b)  Fixed and Permanent Improvement Upon the Termination of this Contract – Upon the termination of this Contract or the expiration of
the Lease Period, all fixed and permanent improvement introduced, built or installed in the Leased Premises by the LESSEE, including
those items which cannot be removed or detached from the Leased Premises without defacing, injuring or causing damage to the
Leased Premises, shall become the property of the LESSOR without any obligation on the part of the LESSOR to reimburse the LESSEE
for the cost thereof.

In case the LESSOR does not choose to retain such improvements, the same shall be removed at the expense of the LESSEE and the
Leased Premises shall restored to its former condition, ordinary wear and tear excepted.

Section 3. Maintenance and Repairs

a)      Maintenance of the Leased Premises – The LESSEE shall maintain the Leased Premises in good and sanitary condition at all
times.

b)      Repairs by LESSEE – Subject to the provisions of this Section and provided that the LESSOR is given prior notice thereof, the
LESSEE shall make on the Leased Premises all repairs through qualified and/or licensed workmen or contractors. It is understood that
repairs arising from structural defects or those cause by the LESSEE or his/her family members or guests shall be undertaken
immediately by the LESSEE. Repairs which are necessary to keep the same suitable for the use to which it is intended during the Lease
Period shall be coordinated with the LESSOR and shall be undertaken by the LESSOR immediately.

c)      LESSEE shall be solely liable for any damages of whatever nature which may arise due to any of the aforesaid repair, and hereby
holds LESSOR free and harmless from any liability in relation to such repairs. Such repairs shall not entitle the LESSEE to any damage
or compensation whatsoever, nor shall it be a cause for the reduction of rentals, fees and charges.

Section 4.  Inspection of the Leased Premises

The LESSEE shall permit the LESSOR at any reasonable hour of the day and upon prior notice to the LESSEE to inspect the Leased
Premises to make such steps as he/she may think necessary for the protection, maintenance and preservation of the area;

ARTICLE VI:  RETURN OF THE LEASED PREMISES AND DELIVERY OF IMPROVEMENTS

The LESSEE, at the expiration of the lease or cancellation thereof, will promptly deliver the Leased Premises to the LESSOR, devoid of all
occupants, furniture, articles and effects of any kind; PROVIDED, HOWEVER, that non-compliance on the part of the LESSEE with the
terms of this clause shall give the LESSOR at his/her option, the right to refuse to accept the delivery of the Leased Premises and to
require the LESSEE to pay rent therefore at the same rate of rental as herein provided, plus two percent (2%)  additional sum as penalty
until the LESSEE shall have complied with the terms hereof.  This same penalty shall likewise be imposed in case the LESSEE shall
refuse to leave the Leased Premises after his/her right of lease has expired or terminated for any reason whatsoever;

ARTICLE VII: COMPLIANCE WITH LAWS, RULES AND REGULATIONS

The LESSEE shall comply with any and all rules, regulations, ordinances of the City of ______ or National Government arising from or
regarding the use, occupancy and sanitation of the Leased Premises.  The LESSEE shall indemnity and hold harmless the said
LESSOR against all actions, suit, damages and claims by whomsoever by reason of non-observance or non-performance by the
LESSEE of said rules, regulations, ordinances or laws or any covenant of this contract.

ARTICLE VIII:  DESTRUCTION OF THE LEASED PREMISES                                   

If during the Leased Period, the Leased Premises is totally destroyed for causes beyond the control of the LESSEE or the LESSOR,
rendering the Leased Premises totally or partially untenantable, the LESSOR shall have the option either to restore the Leased Premises
to substantially the same condition as they were prior to the destruction or to keep the same as they are in which case the lease shall be
deemed terminated. During the restoration or repair of the Leased Premises, the Contract shall be deemed suspended until such time
that the Leased Premises are available for occupancy by the LESSEE.

ARTICLE IX: PROHIBITED ACTS BY THE LESSEE         

Section 1. Prohibited Acts

The LESSEE is prohibited from doing any of the following acts:

a)      Using the Leased Premises or a portion thereof for any unlawful or immoral or scandalous purpose and any other purpose contrary
to public policy, or such purpose that will impair the purposes of this lease or violate any provision of this Contract;

b)      Storing of any item or contraband the possession, use, distribution or sale of which is prohibited by law, including but not limited to
prohibited drugs, firearms, ammunition, explosives, pornographic materials, and the like.

c)      Assigning, sub-leasing, transferring and conveying, mortgaging or encumbering of the LESSEE’s rights to the Leased Premises or
improvements thereof, or in and under this Contract, directly or indirectly, in any manner whatsoever, in whole or in part, without the prior
written consent of the LESSOR.

d)      Raising fowls, dogs, pigs, or other animals within the compound or inside the Leased Premises.

e)      Discharging any toxic or non-biodegradable substance in the sewer system.

f)        Dumping any waste material or garbage in the Leased Premises or in areas not designated for waste disposal.

g)      Such other acts and circumstances that prejudice the welfare of the LESSOR  and/or the other tenants in the compound.

Section 2. Violation under this Section

Commission by the LESSEE of any of the foregoing prohibited acts shall render the LESSEE in breach or default of this Contract, and
liable for any and all damages to property or injury to persons caused by or arising out of such violation, directly or indirectly, and shall, if
such breach is not cured within a period of fifteen (15) days from receipt of notice to the LESSEE, entitle the LESSOR to extra-judicially
declare this Contract automatically terminated, without reimbursement to the LESSEE of any unused rentals or security deposit, in
addition to such remedies of the LESSOR under this Contract or under the law.

ARTICLE X:  THIRD PARTY LIABILITY

The LESSEE, during his/her occupancy of the Leased Premises, shall hold the LESSOR free and harmless from any and all liabilities to
any person or property arising out of or as a consequence of the use of the Leased Premises by the LESSEE, by the other tenants of the
LESSOR or by the guests of the LESSEE, except for those caused by the LESSOR’s own fault or negligence, and further agrees to
indemnify the LESSOR in the event that the LESSOR is held liable therefore.

ARTICLE XI: BREACH OR DEFAULT BY THE LESSEE   

Section 1. Instances of Breach or Default

The LESSEE shall be deemed in default or in breach within the meaning of this Contract where:

a)      The LESSEE fails to pay on time the full amount of any rental, utility and service charges, and other fees and charges or financial
obligation of the LESSEE under this Contract on the applicable due date.

b)      The LESSEE violates any of the terms and conditions of this Contract, and such violation if curable is not cured within a period of
fifteen (15) days from the date of receipt of notice of violation by the LESSEE from the LESSOR.

Section 2. Rights of LESSOR in case of Breach or Default by LESSEE

Without prejudice to any of the rights and remedies of the LESSOR under this Contract, or any supplementary or amendatory agreement
thereto, the LESSOR shall have the rights hereunder stated in case of default or breach by the LESSEE:

a)      Terminate this Contract immediately, with written notice to the LESSEE, without need of any judicial action or declaration; and

b)      Effect disconnection of utilities and services, with notice of such disconnection and discontinuance of services;

c)      Conduct an inventory of furniture, fixtures, equipment and all other properties used or situated in the Leased Premises; and

d)      Immediately effect closure or lock-out, padlock and take over of the Leased Premises, and appropriate all fixed and permanent
improvement introduced, built or installed therein, with written to the LESSEE, without need of any judicial action or declaration and evict
the LESSEE from the Leased Premises and/or enter and occupy the same, without being liable for any prosecution therefore.

Notwithstanding the termination of this Contract, the LESSEE shall be liable for the rental, utility and service charges and all other
financial obligations accruing on the Leased Premises until such time that the LESSEE actually vacates the Leased Premises.

Section 3. Liability of Attorney’s Fees, Costs and Expenses of Litigation

If the LESSOR is constrained to bring suit against the LESSEE for any breach of this Contract or for ejectment, the LESSEE shall, in
addition to damages and obligation mentioned in Section 2 of this Article, be liable to the LESSOR for attorney’s fees equivalent to ten
percent (10%) of the outstanding obligations of the LESSEE, plus costs and expenses of litigation.

All legal actions arising from or in connection with this Contract shall be brought in the proper court of _____________, Metro Manila,
Philippines.

ARTICLE XII:  ABANDONMENT       

In the event that the LESSEE abandons the Leased Premises, or leaves the Leased Premises vacant for at least thirty (30) consecutive
days without informing the LESSOR prior to such abandonment, the LESSOR may re-let the Leased Premises or any part thereof under
such terms and conditions as the LESSOR may deem proper and convenient. Such re-letting shall not operate as a waiver of the
LESSOR’S rights to terminate this Contract at any time nor any other tights of the LESSOR herein.

ARTICLE XIII:  AMENDMENT

This Contract shall not be amended in any manner, unless such amendment is made in writing and signed by the parties hereto.

IN WITNESS WHEREOF, this Contract has been signed by the parties hereto on the date and in the place first above written.

________________                                                      ________________

(LESSOR)                                                                    (LESSEE)                         



             SIGNED IN THE PRESENCE OF
_______________________                          _______________________



ACKNOWLEDGEMENT


REPUBLIC OF THE PHILIPPINES)
CITY OF ____________                ) S.S.

BEFORE ME, a Notary Public for and in the City of _______, personally appeared:

NAME                                CTC NO.             DATE/PLACE OF ISSUE

Lessor



Lessee



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

WITNESS MY HAND AND SEAL this ____ day of __________ at __________.


Doc. No._______;                                                                   NOTARY PUBLIC
Book No._______;
Page No._______;
Series of 200__.
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