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CONTRACT OF LEASE

KNOW ALL MEN BY THESE PRESENTS:

This Contract of Lease made and entered into by and between:

Name of Lessor, of legal age, Filipino, married, and a resident of No. 65 Gen.
Aguinaldo St., Roxas City, Capiz, Philippines, (hereinafter referred to as the
"LESSOR");

- and -

Name of Lessee, of legal age, Filipino, single, and a resident of No. 18 Laua-an
St., Roxas City, Capiz, Philippines, (hereinafter referred to as the "LESSEE");

WITNESSETH that:

WHEREAS, the LESSOR is the owner of a certain parcel of land situated in Brgy.
Talang, San Carlos City, Pangasinan, Philippines, more particularly described as
follows:

A parcel of land (Lot No. 23670-A, Pad-01-019993, being a portion


of Lot 23220 of the Cadastral Survey of Roxas City, Capiz), situated
in Brgy. Sampaguita, Roxas City, Capiz. Bounded on the NE, along
line 1-2 by Lot 25520-B, Pad-01-012393, on the SE, along line 2-3
by Lot 28887, Pad-01-012193, on the SW, along line 3-4 by Lot
24421, Pad-01-078793, and on the NW, along line 4-1 by Provncial
Road, Pad-01-098893. Containing an area of THREE THOUSAND
(3,000) SQUARE METERS, more or less, Covered by Transfer
Certificate of Title No. 030-2014123468 of the Registry of Deeds of
Roxas City, Capiz.

WHEREAS, the LESSOR desires to lease the aforementioned property in favor of


the LESSEE and the LESSEE accepts the lease subject to the terms and
conditions herein set forth.

NOW, THEREFORE, for and in consideration of the terms and conditions


mutually agreed upon by the parties, the LESSOR hereby lease unto the
LESSEE, his heirs, successors and assigns, the aforementioned parcel of land
subject to the following terms and conditions, to wit:

1. That the term of this lease shall be for a period of five (5) years to commence
upon the signing of this Contract and shall be renewable for another five (5) years
at the option of the LESSEE, and thereafter renewable upon mutual agreement of
the parties;

2. That the monthly rentals on the leased premises above-mentioned shall be Ten
Thousand Pesos (P10,000.00), Philippine Currency for the first two (2) years of
this agreement, which shall be increased by Five Thousand Pesos (P5,000.00)
every year thereafter. The rentals shall be paid by the LESSEE to the LESSOR on
a monthly basis payable on or before the 30th day of every month;

3. That upon the signing of this Contract, the LESSEE agrees to pay advanced
rentals for two (2) months;

4. That the LESSEE shall pay the real property taxes levied on both the leased
premises corresponding to the aforementioned parcel of land and on the building
and other improvements that shall be introduced by the LESSEE ;

5. It is expressly agreed by the parties herein that any fixed improvements or


renovations that will be introduced in the subject parcel of land shall become the
property of the LESSOR after the expiration of the term of this Contract.

IN WITNESS WHEREOF, the parties have hereunto affixed their signatures this
21st day of April 2017 at Iloilo City, Philippines.

Name of Lessor Name of Lessee

LESSOR LESSEE

SIGNED IN THE PRESENCE OF:

Witness 1 Witness 2

ACKNOWLEDGMENT

BEFORE ME, this 21st day of April 2017 in the City of Roxas, Capiz Philippines,
personally appeared Name of Lessor with ID No. 123456 and Name of Lessee
with ID No. 654321 known to me 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. This contract consists of two (2) pages including this page
in which this acknowledgment is written, signed by the parties and their
instrumental witnesses in each and every page thereof.

IN WITNESS WHEREOF, I have hereunto set my hand and affixed my notarial


seal, the day and place above written.

Atty. Karmila D. Abogada

Notary Public

PTR No. 1234567, Iloilo City, 1/2/17


IBP OR No. 654321, Iloilo City, 1/2/17

Attorneys Roll No. 11122

MCLE Compliance Certificate No. IV-


0025415, Pasig City, 1/2/17

Doc. No. : ________;


Page No. : ________;
Book No. : ________;
Series of 20_________.