CONTRACT OF LEASE

KNOW ALL MEN BY THESE PRESENTS:

This agreement made and entered into by and between;

XXX, both of legal age, Filipino,

with residence and postal address at AAA, hereinafter referred to as the LESSOR.

- and -

A, of legal age, Filipino, married to B, Filipino, presently residing at C, hereinafter

referred to as the LESSEE.

WITNESSETH THAT:

For and in consideration of the rental and mutual covenants hereinafter specified, the
LESSOR hereby leases and lets unto the LESSEE, who hereby takes in lease the
leased premises hereinafter described and assigns same to A

1. DESCRIPTION OF PREMISES: The subject matter of this agreement is the

Condominium unit owned by the LESSOR at RRR, with one (1) parking space at
PPP

2. TERM OF LEASE: The duration of the lease shall be for twelve (12) months
guaranteed lease commencing on November 4, 2011 and expiring on November
3, 2012, and may be extended under the terms and conditions agreeable to both
parties. Termination/Renewal notice shall be given sixty (60) days before the
expiration of the Contract of Lease.

3. RENTAL: The parties herein agree that the monthly rental of the premises shall
be THIRTY THOUSAND PESOS (P30,000.00) Philippine Currency, payable as
described in item 5 of this Lease Contract.
4. SECURITY DEPOSIT: A non-interest bearing Security Deposit of SIXTY
THOUSAND (P60,000.00) PESOS, Philippine Currency, equivalent to two (2)
months rental shall be paid by the LESSEE for the faithful performance of the
LESSEE’S obligations under this Contract. It shall be applied to answer for any
unpaid electricity bills, or damages to the LEASED PREMISES, except for
ordinary wear and tear, upon the termination of the lease. The security deposit
shall not be applied to the monthly rentals but shall be retained by the LESSOR,
and refunded to the LESSEE within sixty (60) days after the termination of the
contract and delivery of the leased premises to the LESSOR. Provided further,
that all contracts/obligations attached to the LEASED PREMISES has been
terminated and all bills/charges has been fully settled. In the event that the said
Security Deposit is not sufficient to cover for the unpaid bills/damages to the
leased property, the LESSEE warrants to pay the deficiency within five (5)
working days upon demand by the LESSOR.

5. MANNER OF PAYMENT: Upon execution of this Contract of Lease, the

LESSEE shall deliver to the LESSOR checks payable to XXX, dated as follows:

i. November 4, 2011 PHP 90,000.00 Security Deposit / 1 month lease

ii. December 4, 2011 30,000.00 1 month lease
iii. January 4, 2012 30,000.00 1 month lease
iv. February 4, 2012 30,000.00 1 month lease
v. March 4, 2012 30,000.00 1 month lease
vi. April 4, 2012 30,000.00 1 month lease
vii. May 4, 2012 30,000.00 1 month lease
viii. June 4, 2012 30,000.00 1 month lease
ix. July 4, 2012 30,000.00 1 month lease
x. August 4, 2012 30,000.00 1 month lease
xi. September 4, 2012 30,000.00 1 month lease
xii. October 4, 2012 30,000.00 1 month lease

6. USE OF LEASED PREMISES: The leased premises shall be used exclusively

for residential purposes only by A. The LESSEE shall not use the LEASED
PREMISES for any illegal, illicit nor immoral purpose. The LESSEE further
agree to observe and abide by the Unit Owners’ Association’s Rules and
Regulations during the LEASE PERIOD.

7. SUBLEASE: The LESSEE shall not sublease or rent out the leased premises or
any portion thereof.

8. ELECTRICITY bills shall be for the account of the LESSEE. WATER &
ASSOCIATION DUES shall be for the account of the LESSOR.
9. IMPROVEMENTS: The LESSEE shall not make any major structural changes,
alterations or improvements in the LEASED PREMISES without the prior or
written consent of the LESSOR. However, any major changes, alterations or
improvements made or introduced by the LESSEE in the LEASED PREMISES
with the written consent of the LESSOR which are permanent in character, or
which cannot be removed without causing damage to the LEASED PREMISES,
shall upon termination of this contract, automatically inure to the benefit of the
LEASED PREMISES and shall become the property of the LESSOR without any
obligation on the LESSOR’S part to pay or refund its value or cost to the
LESSEE.

10. MAINTENANCE, SANITATION AND REPAIRS: The LESSEE shall keep the
LEASED PREMISES in sanitary, clean and good condition at all times, and
warrants that it has inspected the LEASED PREMISES and found the same in
tenantable condition. Major repairs shall be borne by the LESSOR unless
caused by the fault and negligence of the LESSEE or his immediate family, and
guests. The LESSEE shall be responsible for all minor repairs up to TWO
THOUSAND (2,000.00) PESOS or less per repair on the premises such as but
not limited to; light bulbs & switches, door knobs and handles, faucets & water
closets fixtures. Structural and major repair of ceiling leak, broken water pipes,
major electrical repair when condition warrants, and other non-recurring
maintenance and repair shall be the responsibility of the LESSOR.

11. INSPECTION PRIOR TO OCCUPANCY: LESSEE AND LESSOR shall

perform a joint inspection of the premises prior to occupancy; this inspection
shall note the condition of all aspects of the premises in order that the LESSOR
and the LESSEE shall know how the premises shall be returned.

12. FIRE HAZARD AND OBNOXIOUS SUBSTANCE: The LESSEE shall not
keep, deposit or store in the LEASED PREMISES any obnoxious or
inflammable material or substance that might constitute a fire hazard or
nuisance.

13. THIRD PARTY LIABILITY: The LESSEE during its 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 and its
guests.

14. LEASED PREMISES RENDERED UNTENANTABLE: In case the LEASED

PREMISES is destroyed or rendered untenantable by fire, war, civil
disturbance, earthquake, flood and typhoon, this lease shall be extinguished and
the LESSOR is obliged to return to the LESSEE the unapplied portion of the
advance rentals with no further obligation on the part of the LESSEE to pay
rent, unless the
 LESSOR immediately repairs and/or offers and furnishes the LESSEE another
property equally suitable and satisfactory to the LESSEE. In the event however,
that the premises are only partially destroyed or partially rendered untenantable,
the LESSEE may elect either to terminate the Contract of Lease after a 30-day
written notice to the LESSOR, or to remain in the premises rendered partially
untenantable with a proportionate rebate or reduced rent.

15. PRE-TERMINATION OF LEASE CONTRACT: The Contract is guaranteed

Twelve (12) months lease. Should the LESSEE vacate the premises before the
Expiration of the lease contract for whatever reason, the LESSEE shall forfeit to
the LESSOR the unused rental.

16. SALE, TRANSFER AND MORTGAGE: The LESSOR reserves the right to
mortgage, sell or otherwise dispose of the property. In the event of sale, transfer,
mortgage or any other encumbrance of the leased premises, the LESSOR
warrants to the LESSEE that the purchase or mortgage shall honor all the terms
and conditions of this Contract of Lease. The LESSOR shall have the right to
show the LEASED PREMISES for inspection at reasonable hours of the day
with advance notice and consent of the LESSEE.

17. TAXES AND INSURANCE: During the term of the lease or any renewal
thereof, the LESSOR shall be wholly responsible for any realty taxes and
assessments, fire insurance of the house and its appurtenances, appliances and
fixtures, and other charges of a public nature, which are or may be assessed
against the leased premises covered by the lease.

18. INSPECTION OF LEASED PREMISES: The LESSOR reserves the right at

reasonable times and with advance notice to the LESSEE to enter and inspect the
premises in the presence of the LESSEE or his representative. In case, repairs
are necessary to be instituted in the LEASED PREMISES, the same shall be
done with prior appointment with the LESSEE.

19. RETURN OF LEASED PREMISES: Upon the expiration of the lease period or
any extension or renewal thereof, or upon the termination of this contract as
herein provided, the LESSEE shall immediately and peacefully return to the
LESSOR the possession of the LEASED PREMISES in as good, clean, sanitary
and tenantable condition as when the LESSEE received it from the LESSOR, or
and shall restore the LEASED PREMISES or affected portions
(walls/ceiling/flooring) thereof to their original conditions at the beginning of the
lease, ordinary wear and tear excepted. Cost of the cleaning and restoration shall
be for the LESSEE’S account. Sixty (60) days prior to the return of the LEASED
PREMISES the LESSOR may show the premises to prospective tenants at
reasonable hours and with advance notice to the LESSEE.
 If the premises were not returned at the expiration or termination of the lease,
LESSEE shall be responsible to the LESSOR for all damages, which the latter
might suffer by reason thereof and will indemnify the LESSOR against any and
all claims made by the succeeding tenant against the LESSOR resulting from the
delay of the LESSOR in delivering possession of the property to him due to
failure of the LESSEE to surrender the leased premises.

20. VIOLATION OF TERMS AND CONDITIONS: Any violation of the terms and
Conditions provided for in this Contract of Lease on part of the LESSEE or
LESSOR, shall be sufficient ground for the termination of this contract by
aggrieved party. However, before the provisions shall take effect, the guilty party
shall be given fifteen (15) days to correct said violation.

21. LEGAL ACTION AND VENUE: Any legal action arising from this Contract
shall be filed in the proper court of Quezon City.

IN WITNESS WHEREOF, the parties have hereunto affixed their signatures on the 4th
day of November 2011 at Taguig City.

XXX A
LESSOR LESSEE

Signed in the presence of:

_________________________ __________________________
 ACKNOWLEDGEMENT

REPUBLIC OF THE PHILIPPINES)

) SS

BEFORE ME, a Notary Public for and in _______________ this _____________________ the
following:

Name ID No. Date & Place of Issue

XXX

Known to me to be the same person who executed the foregoing instrument which they acknowledge
to be their
free and voluntary act and deed.

This instrument consists of seven (7) pages including the page where the acknowledgement clause
and Annex “A”are written. The contracting parties and their instrumental witnesses have all signed
the pages thereof.

WITNESS MY HAND AND NOTARIAL SEAL on the date and place first mentioned above.

Doc No. _______

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Series of 2011