CONTRACT OF LEASE

KNOW ALL MEN BY THESE PRESENTS:

This Contract of Lease, made and entered into this ___ day of January 2019, in Makati City,
Metro Manila by and between:

LESSOR: IAN VALENTIN U. SERMONIA, Filipino Citizen, of legal age, with postal address: Unit
40D One Legaspi Park Bldg. 121 Rada St. Legaspi Village, Makati City, Philippines

- a n d -

LESSEE: MA. CECILIA L. ESPIRITU, Filipino Citizen, of legal age with postal address: Unit
3503-B Regent Parkways Condo Fort Bonifacio, Taguig City

SUBJECT: Unit for Lease - UNIT NO. 40D

ONE LEGASPI PARK
121 Rada St, Legaspi Village
Makati City Metro Manila, Philippines 1229

W I T N E S S E T H:

WHEREAS, the LESSOR is the absolute/registered owner and has the legal absolute right
to lease the PREMISES fully furnished with all the furniture, fixtures and appliances therein all in
good and/or working condition and listed in Annex “A” hereof, subject to the terms and conditions
hereinafter specified,

NOW THEREFORE, for and in consideration of the foregoing and mutual covenants
hereinafter contained, the LESSOR has let and by these presents does hereby let and lease unto the
LESSEE, the aforesaid LEASED PREMISES and the LESSEE hereby accepts the same by way of
lease, subject to the following terms and conditions:

1) PERIOD OF LEASE: This Lease shall be for a period of ONE (1) YEAR from JANUARY 28,
2019 to JANUARY 27, 2020, under such terms and conditions by mutual agreement of both
parties, in which case, the LESSEE must signify his intention whether to terminate or renew the
same by written notice thereof to the LESSOR within SIXTY (60) DAYS prior to the expiration of
this contract

2) AMOUNT OF RENT: The parties herein agree that the monthly rental of the LEASED PREMISES
shall be SIXTY PESOS (PHP26,000.00) inclusive of Condominium Association Dues and One (1)
Parking slot. The TERMS OF PAYMENT shall be specified as follows:

A. The TWO (2) MONTHS SECURITY DEPOSIT of FIFTY TWO THOUSAND

PHILIPPINE PESOS (PHP 52,000.00) shall be a non-interest bearing Security Deposit
to serve as a Guarantee for the faithful compliance of the Provisions of this Lease Contract
for the duration of the Lease. The SECURITY DEPOSIT shall not apply as Rental, it shall
be kept intact with the LESSOR throughout the Life of this Contract. However, if the
aforesaid Security Deposit is not enough to settle the outstanding unpaid Bills such as
Electricity, Water, Cable, Damages to the Unit (if any), Internet, etc., the LESSEE is
obliged to settle the same to the LESSOR. The unused amount, if any, will be refunded to
the LESSEE by the LESSOR without interest within SIXTY (60) DAYS after the
Expiration Date of this Lease Contract or any extension thereof, provided that all bills and
accountabilities shall have been settled by the LESSEE and provide proof thereof is
presented to the LESSOR.

B. The Sum of FIFTY TWO THOUSAND PHILIPPINE PESOS (P52,000.00)

representing TWO (2) MONTHS ADVANCE RENT shall be applied for the Period of

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 January 14, 2019 to March 13, 2019. The LESSEE shall also provide TEN (10) POST
DATED CHECKS with the amount of Twenty Six Thousand Pesos (26,000.00) each
check payable every 14th of the month representing the payment for the period of March
14, 2019 to January 13, 2020. Should the check payments fail for whatever reason,
LESSEE shall immediately give payment in cash two days after due date. Failure of
payments shall constitute a valid and just cause to rescind this lease contract. Schedule of
Payment is as follows:

Date Due Amount Period Covered

Before Move in 52,000 (2 months advance)
January 14, 2019 to March 13, 2019
52,000 (2 months deposit)
March 14, 2019 26,000 March 14, 2019 – April 13, 2019
April 14, 2019 26,000 April 14, 2019 – May 13, 2019
May 14, 2019 26,000 May 14, 2019 - June 13, 2019
June 14, 2019 26,000 June 14, 2019 – July 13, 2019
July 14, 2019 26,000 July 14, 2019 – August 13, 2019
August 14, 2019 26,000 August 14, 2019 – September 13, 2019
September 14, 2019 26,000 September 14, 2019 – October 13, 2019
October 14, 2019 26,000 October 14, 2019 – November 13, 2019
November 14, 2019 26,000 November 14, 2019 – December 13, 2019
December 14, 2019 26,000 December 14, 2019 – January 13, 2019

3) UTILITIES: All expenses for all utilities such as Water, Cable TV, Electricity, telephone service,
etc., shall be for the sole and exclusive account of the LESSEE and should be paid regularly every
month without need for demand. The monthly Condominium association dues for the Leased
Premises shall solely be for the account of the LESSOR

4) USE OF PREMISES: The LESSEE hereby agrees to comply with the rules and regulations of the
COLUMNS LEGASPI VILLAGE Condominium Corporation, which stipulates that the leased
premises shall only be used and occupied for residential and legal purposes. The LESSOR shall be
held free and harmless for any illegal activity conducted within the leased premises by the LESSEE
and/or any of his/her/its guest/s. The use of the premises shall be limited to the listed LESSEE and
his/her immediate family.

5) IMPROVEMENTS AND ALTERATIONS: The LESSEE shall not make or introduce any major
structural changes, alterations, and/or improvements to the Leased Premises without the written
consent of the LESSOR. However, any major alterations, or improvements made or introduced by
the LESSEE to the Leased Premises with prior written consent of the LESSOR shall inure to the
benefit of the Leased Premises, and shall become the property of the LESSOR, without any
obligation on the latter’s part to refund its value or cost to the LESSEE; or the LESSOR may require
the LESSEE to restore the said part/s of the premises to its/their original condition with the cost
thereof for the LESSEE’s sole and exclusive account.

6) SANITATION AND REPAIRS: The LESSEE shall keep the Leased Premises clean and in
sanitary condition and take care of and keep in good condition the furniture and appliances included
and have the same repaired immediately. The LESSEE has inspected the Leased Premises and found
the same to be in good, and tenantable condition with the appliances in working condition;

The LESSOR shall be responsible for all major cost of repairs to the structure of the unit.

The LESSEE shall undertake repairs and minor breakdowns in the leased premises, that may
occur within the duration of the Leased Period due to the fault or negligence of the LESSEE, except
in special cases when technicians declare such are results of age, or wear and tear. The LESSEE shall
notify the LESSOR or LESSEE’s Representative verbally or in writing of the repairs and/or damages
so that immediate check-up and repair can be done

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 Minor single repairs that may be necessary by reason of ordinary usage amounting to FIVE
THOUSAND PHILIPPINE PESOS (Php 5,000.00) and below, shall be for the account of the
LESSEE. Should the LESSOR fail to commence with the necessary repairs within a reasonable time,
the LESSEE may secure the needed services for the said repairs with the written notice to the former
by the latter. In which event, the LESSOR agrees to pay the cost of such repairs. In like manner, in
case the repairs are undertaken by the LESSOR for which the LESSEE is responsible, under this
Agreement, the LESSEE hereby agrees to reimburse the LESSOR for the cost of the said repairs.

Regular cleaning and maintenance of the air conditioning unit and other appliances for at least
once every four (4) months. Monthly cleaning of grease trap is also advised. These shall be for the
sole and exclusive account of the LESSEE. The LESSEE shall be responsible for damages to the
leased premises arising from his fault or negligence, his household, and guests.

7) TAXES AND INSURANCE: Real Estate Taxes, Government Assessments, and Fire Insurance
charges shall be for the account of the LESSOR.

8) FIRE HAZARDS AND OBNOXIOUS SUBSTANCES: the LESSEE shall not keep, deposit, or
store in the Leased Premises any obnoxious substances, illegal drugs, explosives, or flammable
materials that might constitute a fire hazard.

9) THIRD PARTY LIABILITY – The LESSEE, during his occupancy of the Leased Premises shall
hold the LESSOR free and harmless from any damage or 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,
members of his household, his agents, employee(s), domestic helper(s), and guests. But when such
damage is caused by fortuitous events or acts of God, such as typhoons, earthquakes, floods, etc.,
which is beyond the control of the LESSEE, the latter shall not be liable to the LESSOR

10) SUB-LEASE AND/OR TRANSFER OF RIGHT - Without the LESSOR’s prior written
approval, the LESSEE is absolutely prohibited from leasing, selling, ceding, assigning or otherwise
transferring his leasehold rights over the LEASED PREMISES in full or in part.

11) RIGHT TO SELL AND LESSEE’S RIGHT OF FIRST REFUSAL - In the event of sale,
transfer, mortgage or any encumbrance of the LEASED PREMISES, this Contract of Lease shall be
guaranteed and respected and shall be considered as part of such sale or any other transfer of interest
of the Contract of Lease.

12) INSPECTION OF PREMISES: The LESSOR shall maintain the Leased Premises in good and
tenantable condition and for such purpose the LESSOR reserves the right to enter and inspect the
Leased Premises at reasonable time, and to make necessary repairs thereto, provided however, that
the LESSOR gives the LESSEE at least 24 hours’ notice prior to inspection.

13) RULES AND REGULATIONS: The LESSEE hereby agrees to abide by the rules and regulations
promulgated by the Columns Legaspi Village Condominium Administration. Any violation by
LESSEE of the Association rules is his own responsibility, and the LESSOR shall not be held co-
responsible for such violation. Any violation of said Condominium Association rules shall constitute
a violation of this Contract of Lease. Any penalty imposed on the LESSOR by the Association by
reason of the LESSEE’s violation referred to above, shall be solely borne by the LESSEE and may
be deducted by the LESSOR from the former’s security deposit.

14) NOTICE: The LESSEE shall inform the LESSOR of his intention to renew or not to renew the
Lease Contract within Sixty (60) days prior to the expiration or any extension hereof. In case of non-
renewal of the Lease, the LESSEE shall permit the LESSOR to show the premises to prospective
LESSEES, at reasonable hours and with prior due notice to the LESSEE.

15) DEFAULT IN RENT: In the event that LESSEE fails to pay the monthly rent when due for
whatever reason; the LESSOR shall have the unilateral right to terminate this Contract prior to its
expiration and to undertake either judicial or extrajudicial ejection against the LESSEE. In case of
extrajudicial remedy, the LESSOR or his duly authorized representative can immediately take action
and take actual physical, complete and full repossession of the leased premises even without the

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 consent of the LESSEE. In doing so, the LESSEE hereby appoints and names the LESSOR as
his/her/its Attorney-in-Fact with full power and authority to unlock and enter and padlock the leased
unit and take possession thereof including any property of the LESSEE that may be sold at auction
by the LESSOR with the proceeds of such sale used to pay whatever is due her from the LESSEE
including but not limited to expenses of the takeover. The LESSEE hereby WAIVES AND
ABANDONS all his/her/its rights in assailing and demanding for payment of damages when such
actions are taken by the LESSOR, considering that he/she/it freely and voluntarily agreed to this
provision.

16) ABANDONMENT: Should the LESSEE lock and abandon the Leased premises, for THIRTY
(30) DAYS or more, with no person therein and without notifying the LESSOR in writing that he/she
is coming back, and provided further that the LESSEE is in arrears of their rental payment; the
LESSOR is hereby authorized representative can immediately take action and take actual physical,
complete and full repossession of the leased premises even without the consent of the LESSEE in
accordance with and pursuant to the provisions of paragraph 15.

17) PRETERMINATION CLAUSE: The LESSEE warrants the fulfillment of the full term in this
lease contract. Should the LESSEE pre-terminate this Contract for any reason whatsoever, the
LESSOR shall forfeit TWO (2) MONTHS Security Deposit or if deductions thereto have been or is
to be made by reason of the applicable provisions of this contract. The unused checks are returned
to the LESSEE provided that all the utilities have been settled.

18) RETURN OF THE LEASED PREMISES: Upon termination of this Lease contract for any
reason whatsoever, the LESSEE shall immediately vacate the Leased Premises and return possession
thereof to the LESSOR, unless the Lease Contract is extended upon mutual consent of both parties.
After the expiration or termination of this Lease Contract, the LESSEE shall deliver the Leased
Premises to the LESSOR in the same good, clean and tenantable condition excluding wear and tear.

a. It is agreed herein, that the LESSEE shall shoulder exclusively, the general cleaning of the unit
which shall be done by professional cleaners. Cleaning and/or repair of appliances, furniture/s
damaged other than by ordinary wear and tear, including the expenses for carpentry works on
cabinets and/or other furniture and the like shall be for the LESSEE’s sole account. The
expenses to be incurred and/or incurred for the above, shall be deducted from the security
deposit.

b. All receipts for the above expenses shall be presented to the LESSEE and any balance left from
the security deposit after deducting all applicable charges thereto, shall be returned to the
LESSEE. However, in the event any of the forfeiture provisions hereof is applicable, the
LESSEE shall pay the LESSOR in full and in cash, all the expenses incurred above in addition
to the security deposit to be forfeited.

19) VIOLATION: Both parties agree that all covenants and agreements herein contained shall be
deemed conditions as well as covenants and are the considerations of this contract and if default or
breach be made of any such covenants and conditions, this Lease Contract, at the discretion of the
aggrieved party, may be terminated and cancelled forthwith and the party at fault, shall be liable for
any and all damages, actual and consequential, including all costs of litigation proceedings resulting
from such default or termination. In case any legal action is necessary and/or initiated to enforce the
provisions of this Contract, the Courts of the City of Makati shall have jurisdiction.

20) In the event collection of any amount due is rendered necessary by reason of the party liable
thereof refusing to pay the other, an interest rate of 12% per annum shall be applied and/or added to
the amount due or collectible in addition to legal expense, costs of suit and attorney’s fee which shall
not be less that 25% of the amount due.

IN WITNESS WHEREOF, the parties hereto set their hands this_____________2019 at

Makati City.

___________________________________ ______________________________

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 MARIA CHRISTINA G. VILLANUEVA RIKA IZUMI
LESSOR LESSEE
SIGNED IN THE PRESENCE OF :

_________________________________ _____________________________

A C K N O W L E D G M E N T

REPUBLIC of the PHILIPPINES.)

) S.S.

BEFORE ME, a Notary Public in and for the Municipality of ______this______________2019

personally appeared:

NAME CTC NO./PASSPORT NO. DATE/PLACE ISSUED:

MARIA CHRISTINA G.
VILLANUEVA
RIKA IZUMI TK8772092 14 FEB 2013 / OKINAWA
JAPAN

Known to me and to me known to be the same persons who executed the foregoing Contract
of Lease consisting of FIVE (5) pages including this one and acknowledged to me that the same is their
free and voluntary deed

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

Doc. No._____
Page No._____
Book No.____
Series of 2019 NOTARY PUBLIC

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