CONTRACT OF LEASE

KNOW ALL MEN BY THESE PRESENTS:

This contract is made and entered into by between:
MARIA LIDA E. FURATERO of legal age, married to Edgar F. Furatero, and a resident of
Phase 2, Nova Tierra, Lanang, avao !ity, Phili""ines, hereinafter referred to as the LESSOR#
$and$
SPS. DAVID NEIL BARRY and NORMELITA BARRY, both of legal age, %rish and Fili"ino
nationals, married to each other and residents of avao !ity, Phili""ines, hereinafter referred to as
the LESSEES#
WITNESSETH:
WHEREAS, the LESSOR is the registered owner of a residential house and lot located at &'(
)a*al +treet, ,onte ,aria -illage, Phase ., !atalunan /rande, avao !ity#
NOW THEREFORE, for and in consideration of the foregoing "remises, the LESSOR hereby
lease unto the LESSEES and the latter acce"ts on lease from the LESSOR the above described
"remises owned by the LESSOR, sub0ect to terms and conditions to wit:

.. That the LESSEES shall "ay the LESSOR the monthly rental at the rate of Fiteen
Th!"#and $Ph% &', (((.(() Pe#!#, Phili""ine !urrency#
2. That the LESSEES, u"on the e1ecution of this contact, is obliged by the LESSOR to "ay the
following to wit:
Two ,onths advance 2P.3,444.44 "er month5 6 P74,444.44
8ne ,onth de"osit 6 P.3,444.44
Total P*',(((.((
7. That the de"osit made shall answer for any obligation at the e1"iration of this contract such as
the damage to the leased "remises due to negligence without "re0udice to the right of the
LESSOR to recover whatever balance due to the damage caused by the LESSEES#
9. That the "ayment of the rentals shall be made to the LESSOR or to his authori:ed
re"resentative who shall be made *nown to the LESSEES in a monthly basis commencing on
,arch ;, 24.9 and rentals thereof to be "aid every ;
th
day of the month#
3. That the LESSEES shall use the leased "remises for residential "ur"oses only and for no
other "ur"ose whatsoever#
'. That the electric, water and tele"hone bills e1isting on the leased "remises shall be for the
account of the LESSEES#
;. that in the event of failure of the LESSEES to "ay his monthly rentals for two consecutive
months, he shall be deemed in default without need of notice and the whole amount of the
lease for those months remaining un"aid shall immediately be due and "ayable, "lus .4< of
the amount due "er month as "enalty thereto#
(. That the LESSEES is e1"ressly "rohibited to sublease the lease "remises to anyone without
"rior written consent of the LESSOR#
=. That all e1"enses for ordinary re"airs within the "remises that arise by reason of the daily use
of the facilities shall be for the account of the LESSEES without right of reimbursement at the
termination of this contract#
.4. That the LESSEES shall not ma*e "ermanent alteration or introduce any form of im"rovement
in the leased "remises without the "rior consent of the LESSOR, and that any im"rovements
that may be introduced in the leased "remises that will not destroy or damage the basic
structure of the building and that may be removed, otherwise the same become the "ro"erty of
the LESSOR during the termination of the lease, however, in case of such unauthori:ed
alteration and>or im"rovement on the leased "remises, then the same shall become the
e1clusive "ro"erty of the LESSOR at the e1"iration of the lease#
... That at the end of the term of this contract, the LESSEES agrees to "eaceably deliver the
leased "remises unto the LESSOR, vacant and unencumbered and in good and tenantable
order and condition#
.2. That the LESSEES shall observe and maintain cleanliness in the "remises and com"ly as
well with the re?uirements of the Fire e"artment as to "revent fire ha:ards#
.7. That the LESSEES shall allow the LESSOR or her authori:ed re"resentative to ins"ect the
leased "remises during reasonable hours of the day#
.9. That the LESSOR shall not be liable for any damages or in0ury caused to any "ro"erty of
LESSEES "laced in the leased "remises by water, fire or other causes and that any re"airs on
the damage in the leased "remises shall be the res"onsibility of the LESSEES#
.3. That in case of violation of any of the term of this contract, and resort to the courts may be
had, aggrieved "arty be entitled to li?uidated damages of Ph" @@@@@@@@@@@@@@@@, and the
reimbursement of attorneyAs fee in the amount of Ph" 24,444.44 or Ten 2.4<5 of the Bn"aid
8bligation, whichever is higher, in addition to the cost of suit

IN WITNESS WHEREOF, we have hereunto set our hands this @@@@@@@@@@@@@@ in avao
!ity, Phili""ines.
MARIA LIDA E. FURATERO
LE++8C
@@@@@@@@@@@@@@@@@
DAVID NEIL BARRY NORMELITA BARRY
LE++EE LE++EE
3.2$994$';3 T%N =97$;(9$.43

+igned in the "resence of:
@@@@@@@@@@@@@@@@@@@@ and @@@@@@@@@@@@@@@@@@
AC+NOWLED,MENT
CEPBDL%! 8F TEE PE%L%PP%NE+5
%n the !ity of avao 5 +.+
F $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $5
BEFORE ME A NOTARY PUBLIC for in the !ity of avao "ersonally a""eared the "arties
with their "roof of identifications above stated, *nown to be the same "ersons who e1ecuted the
foregoing instrument and they ac*nowledged before me that they understood the contents thereof and
that the same is their free voluntary act and deed.
This instrument consisting of two 225 "ages, including this "age has been signed by the above$
named "arties and their instrument witnesses on the "ro"er "laces of each and every "age hereof
and sealed with my Notarial +eal.
IN WITNESS WHEREOF, % hereunto set my hand and notarial seal @@@@@@@@@@@@@@@@, avao
!ity, Phili""ines.
oc. No.@@@#
Page No.@@@#
Doo* No.@@@#
+eries of 24.9.