CONTRACT OF LEASE

KNOW ALL MEN BY THESE PRESENTS:

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

Ms_________________, Filipino of legal age, with address at

_________________________, hereinafter referred to as the LESSOR

And

_________________________________________, of legal age, _________, Filipino,

with residence address at ___________________, hereinafter referred to as the
LESSEE

WITNESSETH: THAT

WHEREAS, the LESSOR is the owner of a commercial building with _____

commercial units/spaces located ___________________;

WHEREAS, the LESSEE desires to rent/occupy commercial unit/space, Unit No.

____ with an area of _____ sqm., of the above-named commercial building and the
LESSOR is willing to lease the same unto the LESSEE by way of this agreement;

1. TERM OF CONTRACT. The LEASE shall be for a duration of 24 consecutive

calendar months commencing from __________ and ending on _________,
renewable at the option of the LESSOR, Provided that:

1.1. Sixty (60) days before the end of this contract, the LESSEE shall, in
writing to the LESSOR at the address specified herein or to such
address as the LESSOR may afterwards provide the LESSEE for
purposes of this Contract, communicate his/her INTENT TO AVAIL OF
RENEWAL OF CONTRACT, providing therein its proposed new terms
and conditions;

1.2. Thirty (30) days before the end of this Contract, the LESSOR shall, in
writing to the LESSEE at the address where the leased unit/space is
located, communicate its REPLY AND/OR CONSENT TO RENEWAL,
containing therein the approved new terms and conditions, and/or the
LESSOR’s counter-proposals, terms and conditions;

1.3. Upon agreement of the new terms and conditions, the parties herein
shall enter into a contract for the renewal of the leased unit/space;

1.4. In the event that no agreement has been reached at the end of this
Contract, the lease shall subsist on a month-to-month basis, the parties
faithfully observing and complying other terms and conditions herein
contained, until a new agreement is reached, or unless the LESSOR
terminates this Contract.

2. RENTAL. The LESSEE agrees to pay the LESSOR the monthly rental fee of
Pesos:___________________, Philippine currency.

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 2.1. ADVANCED RENTAL. Upon signing of this Contract, the LESSEE shall
pay the LESSOR in cash two (2) months' rental in advance.

2.2. Succeeding monthly rentals shall be payable via post-dated checks to be

issued by the LESSEE in favor of the LESSOR.

2.3. If the check be dishonored without the fault of the LESSOR, the LESSEE
shall issue a new check which is immediately due and demandable,
adding an amount corresponding to 5% of the value of the dishonored
check as penalty for delay. In case the replacement check is dishonored,
the LESSOR may unilaterally and immediately terminate this Contract,
without need of court action.

2.4. The parties hereby further agree to an automatic increase of 5% of the

amount of monthly rental upon the renewal of this Contract.

3. DEPOSIT. The LESSEE shall pay the LESSOR in cash the amount equivalent
to two (2) months’ rental fee or Pesos: _________________, Philippine
currency.

3.1. The amount received shall be deemed a deposit to guarantee the

payment of any future damage to the leased premises, unpaid utilities
and other relevant obligations of the LESSEE arising from or pursuant to
this Contract.

3.2. The full amount of deposit shall bear no interest.

3.3. Unless applied to such future damage, unpaid utilities and other relevant
obligations, said deposit shall be returned to the LESSEE within sixty
(60) days after the termination of this agreement: Provided, however, that
the deposit cannot be applied to unpaid back rentals owed by the
LESSEE prior to the expiration of this agreement.

3.4. Should the LESSEE vacate the premises before the Term of this
Contract ends, the total amount of the deposit and advanced rentals shall
be forfeited in favor of the LESSOR as penalty for pre-termination,
without need of court action. The forfeiture notwithstanding, the LESSOR
shall have the right to avail of remedies under the Contract to satisfy the
LESSEE’s other obligations.

4. USE OF PREMISES. The premises shall be used exclusively for _________

purposes and shall not be used whatsoever for residential or in any illegal or
unlawful activity or to keep materials, chemicals and other matters considered
as fire hazards or nuisance to the building.

5. IMPROVEMENTS. The LESSEE shall not make any alteration, structural

changes or improvement in the leased premises, without the prior written
consent and approval of the plan design, of the LESSOR.

5.1. At the termination of the lease, the LESSEE shall restore the leased
premises in its original state existing at the commencement of the
agreement. Restoration of the LEASED PREMISES shall be for the
exclusive account of the LESSEE.

5.2. Any improvement after the lease is terminated and after the LESSEE
shall have vacated the premises shall belong to the LESSOR.

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6. FACILITIES. All charges for water, electricity, telephone and other public
utilities used in the leased premises as well as security services shall be for the
account of the LESSEE.

6.1. The LESSEE hereby guarantee the prompt payment of any and all
charges heretofore mentioned as they fall due. Any delay in the payment
thereof shall constitute a material breach of this agreement.

7. INSURANCE. The LESSOR may insure the leased premises against fire and
other hazards.

7.1. Should the leased premises be damaged by fire, earthquake, storm or

any fortuitous events to the extent that the same be rendered untenable,
this agreement shall be automatically canceled. In such case, the deposit
as well as the unused portion of the advanced rentals be refunded within
SIXTY (60) days, minus any unpaid obligation.

7.2. The full amount of deposit and advanced rentals shall be forfeited in
favor of the LESSOR if the fire is directly or indirectly attributable to fault
or negligence of the LESSEE, any of his family member, visitor, or
employee, without prejudice to the right of the LESSOR to other claims
against the LESSEE and/or appropriate person.

8. MINOR REPAIRS. The LESSEE shall, during the effectivity of this Contract,
make all minor repairs on the leased premises to preserve the same in
serviceable or tenantable conditions at the LESSEE's expense. The LESSEE,
however, shall give advance written notice to the LESSOR of Ten (10) days
prior to undertaking any minor repair.

9. DAMAGE OR DESTRUCTION TO THE LEASED PREMISES. Any damage or

destruction, in whole or in part, caused to the leased premises which is due to
the fault, misuse, carelessness, and/or negligence or on account of the use
thereof by the LESSEE and other occupants therein shall be made good and
repaired by the LESSEE. Should the LESSEE fail to make the necessary and
appropriate repairs within five (5) days from demand, the LESSOR shall
undertake the needed repairs and shall charge the costs thereof to the
LESSEE.

10. INSPECTION OF PREMISES. To ensure that the leased premises is being

maintained in good and tenantable conditions, the LESSOR or his authorized
representative is hereby given the right after due notice, to enter and inspect
any part of the leased premises during reasonable hours and as the occasion
thereof might require.

11. ASSIGNMENT AND SUBLEASE. The LESSEE hereby shall have no right to
assign or transfer its rights, interest and obligations under the lease contract or
sub-lease contract premises or any portion thereof to any person or entity
without the prior written consent of the LESSOR.

12. INJURY OR DAMAGE. The LESSEE hereby assumes the full responsibility for
any damage which may be caused to the person or property of any third person
in the leased premises during the duration of the lease. LESSEE further binds
himself to hold the LESSOR free and harmless from damages as a result
thereof, unless such damage or liability arose out of structural or other inherent

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 defects in the leased premises or is due to the fault of the LESSOR, his agent
or representatives.

13. SALE OF THE LEASED PREMISES. The LESSEE recognizes the right of the
LESSOR to sell or otherwise convey ownership of the leased premises to any
other interested party, provided the LESSEE's rights under the lease are
respected.

14. HAZARDOUS AND PROHIBITIVE MATERIALS: The LESSEE shall not keep
or store in the lease premise any hazardous and obnoxious substance or
inflammable material or substance that might constitute a fire hazard or other
chemicals and materials or prohibitive drugs in violations of the laws of the
Philippines.

14.1. Should such hazardous and obnoxious substance or inflammable

material or any illegal substance be stored in the leased premises
without the written consent of the LESSOR, the latter may deem this
Contract automatically rescinded and abrogated and the amount of
Deposit and Advanced Rentals forfeited in his favor.

14.2. The parties herein may, during the effectivity of this Contract, enter into a
separate stipulation and agreement relative to this provision, which shall
be deemed part and parcel of this Contract.

15. RULES AND REGULATIONS. The LESSEE binds himself to comply with the
existing rules and regulations promulgated by the building administrator and any
other environmental or other laws, ordinances, rules and regulations applicable
to the leased premises.

16. VIOLATIONS. The LESSOR may, at these options, consider this agreement
rescinded and canceled, without need of any court action, upon a ten (10)-day
notice given to the LESSEE based on any of the following grounds:

a. Failure of the LESSEE to pay and maintain a two (2)-month advance

rental;

b. Failure of the LESSEE to pay other bills or charges therefor mentioned as

they fall due for any reason whatsoever within the period to pay.

c. For any violation made by the LESSEE or its agents and representatives
of any of the terms and conditions stipulated in this contract.

d. In case the leased premises shall be vacated or abandoned for a period of

thirty (30) days without prior written notice to the LESSOR. Consequently,
the LESSOR is hereby permitted and authorized by the LESSEE to enter
the premises, either by force or otherwise, without being liable to
prosecution therefor.

17. Upon termination of the contact of lease based on any of the foregoing grounds
and upon demand, the LESSEE shall immediately vacate and peacefully
surrender full possession of the leased premises to the LESSOR or his duly
authorize representative.

18. REMEDIES. In addition to the provisions of the preceding paragraph, the

LESSEE hereby acknowledges and recognizes the right of the LESSOR to avail

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 or resort to any or all of the following remedial measures without need of court
action:

a. In case of failure of the LESSEE to pay or settle any due and unpaid
obligations (rentals, electricity, water, telephone, etc.) as provided for
under this lease contract, the LESSEE hereby authorizes the LESSOR,
who is hereby given the right, to disconnect all facilities such as but not
limited to electricity, telephone, water in the leased premises without need
of further notice to the LESSEE.

b. Likewise, until the aforesaid unpaid obligations are paid or settled, the
LESSEE is hereby given the rights: to re-renter the leased premises,
remove all persons therefrom, take possession of any of all furniture,
fixtures and equipment found thereon or therein and/or padlocked the door
of the premises.

c. Moreover, by way of a security or to secure the payment of any of the

unpaid obligations of the LESSEE, the LESSEE consents and authorizes
the LESSOR to retain possession of any of all the furniture, fixtures and
equipment that may found on the premises as belongings to the LESSEE
until such time that all the unpaid obligations of the LESSEE are paid or
settled.

d. If after ten (10) days from the date the LESSOR shall have taken
possession of the aforesaid furniture, fixtures and equipment by way of
security, the LESSEE still fails to pay or settle its unpaid obligations to the
LESSOR the LESSEE hereby consents and authorizes the LESSOR to
sell by way of public or private sale any or all the furniture, fixtures,
equipment as may be sufficient to pay or settle the LESSEE's unpaid
obligations plus the accrued interests and attorney's fee equivalent to 25%
of the total amount due and unpaid. All expenses that may be incurred in
the sale shall be for the account of the LESSEE.

18.1. For purposes of selling the aforesaid properties, the LESSEE hereby
irrevocably appoint the LESSOR as its attorney-in-fact to sell and dispose
of any or all of the aforesaid the property of the LESSEE in a private or
public sale at a price as may be determined to be just and reasonable by
the LESSOR and to apply the proceeds therefrom to any or all the unpaid
obligations of the LESSEE.

18.2. If the sale proceeds should prove to be inadequate to fully pay or settle
the unpaid obligations of the LESSEE, the LESSEE shall remain liable to
the LESSOR for any of the deficiency.

18.3. Should the proceeds of the sale of any of the aforesaid properties be
sufficient to pay or settle all of the lessee's unpaid obligations, the
LESSEE may get back its other properties not sold by the LESSOR. If
after thirty (30) days from written notice of the LESSOR directed to the last
known address of the LESSEE, the LESSEE still fails to get back the
remaining properties, said properties shall then be deemed abandoned in
favor of the LESSOR.

18.4. The above enumerated remedies given to the LESSOR shall not be
exclusive, but shall be cumulative and without prejudice to any court
action that may be instituted by the LESSOR for any causes of action that
may arise under this contract of lease.

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 19. ATTORNEY'S FEE. In case the LESSOR resorts to judicial action based upon
or in connection with this lease contract, the LESSEE hereby agrees to pay
attorney's fee equivalent to twenty-five (25%) of the total amount involved or
claimed by the LESSOR as against the LESSEE plus all court expenses and/or
costs of litigation.

20. COURT VENUE. All court actions from this contact of lease shall be filed only in
the proper Courts in the City of Manila to exclusion of all other courts.

21. TIME OF ESSENCE. Time is the essence hereof, any waiver by the LESSOR
of a breach of any term, covenant or condition herein contained, whether
express or implied, shall not constitute of a waiver of any subsequent breach
thereof, or a breach of covenant to pay the rent so accepted. No waiver by the
LESSOR shall be deemed to have been made unless expressed in writing and
signed by the LESSOR.

22. SUCCESSORS AND ASSIGNS. This lease shall bind and inure to the benefits
of the successors and assigns of the LESSOR and of the permitted successors
and assigns of the LESSEE.

IN WITNESS WHEREOF, the parties have hereunto set their hand this __th day
of _____ 2016 at ____________.
 

LESSOR LESSEE

Signed in the Presence of:

ACKNOWLEDGMENT
 
REPUBLIC OF THE PHILIPPINES )
_________________________ ) S.S.
 

BEFORE ME, a Notary Public for and in the_________, this ___th day of
_______ 2016, personally came and appeared the following:

NAME IDENTIFICATION DETAILS

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Who are known to me to be the same persons who executed the foregoing Contract of
Lease consisting of ____ pages including this acknowledgement, signed by the parties
and their instrumental witness at the bottom part of page __ and the left margin of all
other pages.

WITNESS MY HAND AND SEAL on the date and place above stated.

NOTARY PUBLIC

Doc. No.: _____________;

Page No.: _____________;

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Book No.: _____________;
Series of 2016.

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