CONTRACT OF LEASE

KNOW ALL BY MEN PRESENTS;

This Contract of Lease (hereinafter referred to as the “Contract”) is entered to this

________________________________________________________________________________,MOA
Complex, Pasay City, hereinafter to as the “LESSOR,”

-and-

_____________________________________________________________________________________
_________________________________hereinafter referred to as the “LESSEE.”

WITNESSETH: That—

WHEREAS ,the Lessor is the owner of a residential unit lot located at _____________________

________________________________________________________________________ ,MOA
Complex, EDSA corner Sunrise Drive ,Pasay City, with a floor area of 38 sqm., more or less,(hereafter
referred to as “PROPERTY’);

WHEREAS,THE Lessee has offered to lease the above-described unit with a floor area of
approximately 38 sqm. (hereafter referred to as the “Leased Premises”), and the Lesser has accepted
the offer of the Lessee and has agreed to lease unto the Lessee ,the Leased Premises, subject to the
following terms and condition herein set forth.

NOW, THEREFORE, the parties hereto agree and covenant as follows:

1.TERM-This Contract shall be for a period of one (1) year, to commence on ______________________
and end on _____________________,unless sooner terminated by the Lessor as provided herein,
renewable for another one-year term under the same term under the same terms and conditions set
forth in this Contract, except for the monthly rental which will not exceed ten (10%) percent escalation.

2.RENTAL-In consideration for the use, occupancy and enjoyment of the Leased Premises the Lessee
agrees to pay the Lessor __________________________ as monthly rental, inclusive of Expanded Value
Added Tax (E-VAT),less creditable withholding tax. Should there be any adjustment in the E-VAT and/or
EWT rates during the term of the Lease, a corresponding adjustment in the monthly rental shall likewise
be made to cover the tax adjustment without need of securing the prior consent of the Lessee.
The Lessee shall issue eleven (11) post -dated checks in favour of the Lessor upon signing of this Contract
to cover the 11 months, starting on _______________________ and every _____ day of the month
thereafter until ________________.All checks shall be made payable to _________________.

The Lessee shall furnish the lessor with a copy of the BIR form 2307 CWT quarterly. If the Lessee does
not have a checking account the Lessee shall pay in cash to the Attorney-in-fact of the Lessor at the place
and time as the said Attorney-in-fact shall determine.

3.ADVANCE RENTAL AND SECURITY DEPOSIT-Immediately upon the execution of the first or initial lease
Contract, the Lessee shall pay to the Lessor an amount equivalent to ____________________ months
rental as by way of “advance rental” to be applied to the first month of lease, and an amount equivalent
to Two (2) months rental as and by way of “Security Deposit” to ensure the faithful compliance by the
Lessee of all the terms and conditions of this Contract, and settlement of all utility charges and damages
suffered by the Lessor by reason of the use and occupation by the Lessee of the leased premises,
provided by the security deposit shall not be applied to any unpaid rental or arrear of the Lessee at the
end of the term of throughout the duration of the lease. The security deposit shall be returned to the
Lessee within forty-five(45) days from expiration of the term, or upon proof of full settlement of all
unpaid dues and utility chargers, without interest, provided that the Lessee shall have vacated the leased
premises and turned over the same to the Lessor or her authorized representative.

Should the Lessee and the Lessor agree to renew the lease or extend the term, the Lessee need not pay
any security deposit as the existing security deposit shall be deemed carried over to the renewed or
extended term of the lease. Any difference however between the existing security deposit and the
present monthly rent by reason of a new rental rate shall be paid-up by the Lessee within ten (10)days
from signing of the extended or renewed contract.

4.USE OF LEASED PREMISES-The Lessee shall used the Leased Premises exclusively as “residential” only.
The Lessee shall not under any circumstance use the leased premises or any portion thereof as office or
for business purposes ,or for living quarters for the lessee’s personnel , employees, agents, or to operate
a restaurant, canteen, store, spa, or recreational facility, or for online gaming or gambling purposes. The
Lessee shall not use the leased premises to conduct any business or activity that would violate the rules
of the condominium corporation or homeowner’s association, or any law, rule, ordinance or regulation,
or considered a nuisance, or pose a danger to the environment or the life and property of other
tenants,o r would increase the risk of fire or affect the structural integrity of the building, or such other
analogous cases. The Lessor may demand the immediate abatement of the nuisance or cessation of the
activity, and in the event the Lessee fails or refuses to comply there with the Lessor shall have the right
to cancel this contract and evict the Lessee from the leased premises without need of court order.

The number of occupants in the unit shall not be more than _________________.The Lessee shall
strictly comply with all the internal rules, regulations and policies passed by the Condominium
Corporation and the Lessor especially the policy on “NON SMOKING, USE OF ILLEGAL DRUGS AND
DRINKING OF ALCOHOLIC BEVERAGES INSIDE THE BUILDING.” The Lessee shall be provided with a copy
of the rules and regulations of the condominium corporation.
5.SUB LEASE-The Lessee shall not sublease the leased premises ,or any portion thereof, or assign its
rights thereto, without the prior written consent of the Lessor or her Attorney-in-fact. A violation of this
provision shall be a ground for termination of this contract by the Lessor.

6.WAIVER,QUITCLAIM-The Lessee shall forever hold free and harmless the Lessor or her Attorney-in-fact
against all claims, suits, and damages that may be brought by any third-party or the government against
the Lessee arising from a violation or non-compliance by the Lessee of any law, rule, regulation or
ordinance, or any of the conditions of this contract, or for damage to property within the building,
committed by or resulting from tort ,negligence or criminal act of an agent, client, supplier, officers or
guest of the Lessee.

7.ALTERNATIONS AND IMPROVEMENTS-The Lessee shall not introduce any permanent improvement or
make any alternation or install any signage on the leased premises, or appurtenant thereto, without the
prior written consent and approval of the Lessor. Any alternation, Improvement, fixture introduced the
leased premises by the Lessee shall not be removed by the Lessee upon the expiration of this contract
without the consent and approval of the Lessor, unless so required by the Lessor. If the Lessee fails or
refuses to remove the improvement and return the lease premises to its original state ,less ordinary
wear and tear, the Lessor may retain the services of a contractor to undertake the removal of such
improvements at the expense of the Lessee.

8.INVENTORY OF APPLIANCES AND PERSONAL EFFECTS-The Lessor shall provide the Lessee an inventory
of appliances and personal effects which are part of the unit and the lease for the exclusive use of the
Lessee. The Lessee shall inspect the appliances and personal effects to determine if they are in good
working condition before signing the inventory. The inventory shall be attached to this contract as
ANNEX “A” and shall form part hereof.

9.PERIODIC INSPECTION-The Lessor or its duly authorized agents reserve the right to enter into the
leased premises during reasonable hours of the day to make periodic inspections of the leased premises
to determine whether the Lessee has complied with the terms and conditions of this contract, and
pertinent laws, ordinances, rules and regulation.

10.DEFAULT BY THE LESSEE-In case the Lessee defaults in the payment of rental, or is past due for one (1)
month or more, the Lessee shall be liable to pay interest at the rate of three (3%) percent per month,
and penalty equivalent to five (5%) percent of its outstanding obligation, until its arrears is fully paid.
The interest and penalty charges shall be compounded or added-on to the principal on a monthly basis.
The Lessor shall have the right to terminate this contract should the Lessee fail to fully settle his back
rentals. The Lessee hereby appoints and constitutes the Lessor and/or her Attorney-in-fact as his/her
attorney-in-fact to sell at public auction its properties not exempt form execution and apply the proceeds
of the sale as payment of any outstanding obligation, and the balance, if any, returned to the Lessee or
held in trust for the Lessee.

The Lessee shall be considered in default or past due when it fails to remit the full amount of rental on
due date, or its post-dated check was dishonoured by the bank and his/her fails to remit the cash
equivalent of the dishonored check within seventy-two (72) hours from due date, or make the necessary
arrangement with the Lessor for the settlement of its obligation.

The Lessor may forfeit the security deposit and sell at public auction the personal properties of the
Lessee premises of the Lessee not exempt from execution in case the Lessee abandons the leased
premises for a continuous period of thirty (30) days prior written notice to the Lessor , or when the
Lessee has accumulated rental arrears, or when the leased premises is damaged any the act or
negligence of the Lessee and shall require repairs.

11. TERMINATION-The parties hereby agree that in the event of breach or default by the Lessee, the
Lessor shall have the right either to:

A. terminate this contract and take possession of the leased premises without need of any
court order; without prejudice to the right of the lessor to collect any unpaid amount due to it, or

B. compel the lessee to rectify the breach and comply with the terms and conditions of this contract,
however, the lessee may still elect to terminate the contract should the lessee fail to rectify the breach
within a reasonable time

In both instances, the security deposit shall be forfeited in favour of the lessor, as and by way of
liquidated damages by reason of such breach of default, without prejudice to the right of the lessor to
avail of any and all other remedies available to it under applicable laws. In addition to the forfeiture of
the sum of the security deposit as a result of the pre-termination of the lease by the lessee, or the
termination of the contract by the lessor for the just cause, the lessee shall also be liable for any damage
to the premises, to unpaid utility bills and other claims by the lessor based on this contract.

12. SURRENDER OF PREMISES- Upon termination or expiration of the term of the lease, or cancellation
of this contract by the lessor, the lessee shall immediately surrender possession of the leased premises
including any and all fix/immovable improvements standing thereon, to the lessor or her Attorney-in-
fact, free from any lien and encumbrance. In addition thereto, the lessee hereby agrees to pay the lessor
the amount of THREE THOUSAND PESOS (Php 3,000.00) for each day of delay in the turn-over of the
leased premises to the lessor. The lessor shall have the right to deduct from the security deposit the total
amount of daily rental that has accrued up to the time the lessee vacates the premises.

13. COVENANT AND REPRESENTATION OF THE LESSEE- If the lessee is a corporation he/she represents to
the lessor that he/she is duly authorized by its board of directors/trustees to enter into his contract, that
its signatory has likewise been duly authorized by its board to sign this contract and be bound by its
terms (if the lessee is a corporation) that it shall prevent the entry of squatters and other unauthorized
persons into the leased premises and shall, before expiration of this contract, caused the eviction and/or
removal of all occupants in the leased premises. Any and all expenses borne by the lessee in connection
with such eviction and/or removal of squatters and/or unauthorized occupants shall be his/her sole
account.
14. SALE OR ENCUMBRANCE OF THE BUILDING/PREMISES- The lessee recognizes the right of the lessor
to sell, dispose or otherwise convey and assign or encumber the unit, or her rights and interest therein,
provided that if the lessor sells the property series of 2017 or its rights therein, it shall ensure that this
contract and lease rights of first refusal in the event that the lessor sells, or offers for sale, the property
or its rights therein to third persons.

15. NON-DISCLOSURE OF INFORMATION- The parties agree that neither of them shall disclose any
information, or the terms and conditions of this contract, or the monthly rental, to any third party who is
not a privy hereto, reproduce or transmit an electronic copy of this contract to third persons or agencies
of the government, without the written consent and approval of the lessor/lessee, unless compelled by a
valid court order.

16. SEPERABILITY- If any one or more of the provisions contained in this agreement shall be declared
invalid, illegal, or unenforceable by any competent authority, the validity, legality, or enforceability of the
remaining provisions contained herein shall not in any way be affected or impaired.

17. GOVERNING LAW AND VENUE- The laws of the Republic if the Philippines shall govern the
interpretation, construction, and enforcement of any provisions of this contract. All actions or suits in
connection with or arising from the enforcement or interpretation of this contract shall be filed only
before the proper court in Quezon City to the exclusion of all other courts.
IN WITNESS WHEREOF, the parties have hereunto affixed their signature on the date and place above
written.

“Lessor” “Lessee’

TIN: TIN:

BY: BY:

_________________ ________________

SIGNED IN THE PRESENCE OF :

_____________________ __________________________

ACKNOWLEDGEMENT

REPUBLIC OF THE PHILIPPINES

PASAY CITY

Before me, a notary public for in Pasay City _______________________ personally appeared:

NAME CTC/GOVT ID Date of issue/place

Known to me be the same persons who executed the foregoing instrument consisting of six (6) pages
including the page wherein this acknowledgement is written, and acknowleged to me that the same is
their free and voluntary act and deed, and free and voluntary act deed of the corporation they
presented.

IN WITNESS WHEREOF, I have hereunto affixed my notarial seal this ________________

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