CONTRACTOFLEASE

(ProForma)

KNOWALLMENBYTHESEPRESENTS: ThisLeaseContractmadeandenteredintothis______,2006in MakatiCity,byandbetween: _______________________,acorporationdulyorganized andexistingunderthelawsoftheRepublicofthePhilippines,with principalofficeat______________________________,represented hereinbyitsPresident,_______________________,hereinafter referredtoastheLESSOR and __________________________________,acorporation dulyorganizedandregisteredunderthelawofthePhilippines,with addressat____________________________,representedhereinby itsPresident,________________________,hereinafterreferredtoas theLESSEE. WITNESSETH:That WHEREAS,theLESSORistheownerofaresidentialcondominiumunit ________________________________________________,MakatiCity. WHEREAS,theLESSEEdesirestoleasetheabovementionedpremises andtheLESSORiswillingtoleasethesameuntotheLESSEE,inclusiveof oneparkingspaceandfurnishings(AnnexA)subjecttothefollowingterms andconditionhereinafterspecified: NOW,THEREFORE,forandinconsiderationoftheforegoingpremises andthemutualcovenantsandobligationshereinaftercontainedandtobe performed,theLESSORherebyleasesandtheLESSEEherebyacceptsby wayofleasefromtheLESSORandleasedpremisessubjecttothefollowing termsofconditions: 1. TERMThisleaseshallbeforaperiodofOne(1)year, commencingon__________________andendingon _______________renewableuponmutualagreementbyboth parties,providedtheLESSEEgivesthirty(30)daysnoticetothe LESSORofhisintentiontorenewtheleaseofthesubjectpremises. 2. RENTALTheLESSEEshallpayamonthlyrentalPESOS: ________________________(P______________)including associationduesand5%withholdingtax,while12%ValueAdded Tax(VAT)willbefortheLESSEEsaccount.Therentalshallbepaid asfollows: TheLESSEEshallpaytheLESSORthesumofPESOS: ___________________________________ (P______________)Philippinecurrency,inclusiveofAssociation Dues,netoffive(5%)withholdingtaxasrentfrom ______________________________. TheLESSEEshallpaytheLESSORthesumofPESOS: ____________________________________(P____________) Philippinecurrency,representingpaymentfortwelve(12%) VAT,from_____________________.

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TheLESSEEshallpaydirectlytotheBureauofInternalRevenue (BIR),theamountof__________________________________ (P______________)PhilippineCurrency,coveringtheperiod from________________to___________________andfurnish theLESSORacopyofCreditableWithholdingTaxatsource. TheLESSEEshallpaytheLESSORthesumofPESOS: _______________________________(P_____________) representingtwo(2)monthssecuritydepositincaseofunpaid billsofwater,electricity,telephoneandgasordamagestoits premisesasidefromnaturalwearandtear.Thebalance,ifany, shallberefundedtotheLESSEEbytheLESSORwithin60days uponterminationofthisContractofLease,andaftersettlement ofaccountssuchasutilitiesanddamagestotheleased premises. 3. UTILITIESAllexpensesforwater,gas,telephoneandelectricity shallbefortheaccountoftheLESSEE.Theelectricmeterand telephoneno._____________areinthenameoftheLESSOR unlesstheLESSEEelectstohavethemtransferredinhisnameby makingthenecessarydepositwiththeMeralcoandthePLDT,the sameshallcontinuetobeinthenameofLESSOR.However,all, electricandtelephonebillsfortheperiodofoccupancyofthe condominiumbytheLESSEEshallbeforwardedtohimfor payment. 4. IMPROVEMENTSTheLESSEEshallnotmakeanystructural changes,alterations,orimprovementsintheLEASEDPREMISES withoutthewrittenconsentoftheLESSOR.However,anymajor alterationsorimprovementsmadeorintroducedbytheLESSEE shall,uponterminationofthiscontract,automaticallyinuretothe benefitofthesaidpremisesandbecomepropertyoftheLESSOR withoutanylitigationnolattersparttopayorrefunditsvalueor costtotheLESSEE. 5. PURPOSEThepremisessubjectmatterofthiscontractoflease shallbeusedexclusivelyforresidentialpurposes.Ifanytimeduring theexistenceofthisleaseandwithoutthepreviouswrittenconsent oftheLESSOR,thepremisesareusedforotherpurposes,the LESSORhasthefollowingoption,namely:(a)rescindthiscontract, (b)increasetherent,(c)compeltheLESSEEtostopthenew activities,or(d)ejecttheLESSEE.TheLESSORdoesnothowever waiveotherlawfulremediesorcoursesofactionwhichmaybe availabletoit. 6. EMPLOYMENTCLAUSEShouldtheemployee/sassignedtouse theLEASEDPREMISESbetransferredfromthePhilippinespriorto theexpirationofthetermhereof,theLESSEEshallhavetheoption ofa)assigninganotherofitsemployeestotheLEASEDPREMISES uponwrittennoticethereofinadvanceofitsintentiontovacatethe LEASEDPREMISESandforfeitingbywayofliquidateddamages,the sumequivalenttotwo(2)monthsrental,andtheLESSORshall refundimmediatelyanyunusedrentalpaidinadvance,without interest.ThedepositshallberefundedtotheLESSEEuponreturn oftheLEASEDPREMISESandsettlementofaccountsherein. 7. SUBLEASEThesubjectpremisesmaynotbesubleasedwithout thewrittenconsentoftheLESSOR. 8. SANITATIONANDREPAIRSTheLESSEEshallkeepthelease premisescleanandinsanitarycondition.TheLESSEEhave

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inspectedtheLEASEDPREMISESandfoundthesametobeingood andtenantableconditionacceptabletohim.Majorrepairsabove P5,000.00ontheleasedpremisesnotattributabletotheLESSEE shallbefortheaccountoftheLESSOR,andsuchdamages,caused byfire,flood,earthquake,naturaldisasterorcalamity,withoutany contributorynegligencewhatsoeveronthepartoftheLESSEEor anyofitshouseholdguestsorvisitors. TheLESSORshallundertakerepairofthesameuponwrittennotice bytheLESSEEofsuchfactofdamage.Eachminorrepairunder P5,000.00shallbefortheaccountoftheLESSEEwhileanyrepairs inexcessofsaidamountshallbefortheaccountoftheLESSOR. TheLESSEEhasalsoseenandinspectedthefurnishings,furniture andapplianceslistedinAnnexAhereofandfoundthesameto begoodandusefulconditionandfurtheragreesnotusethesame foranyotherthantheaforementionedpremises.Anylossor damagecausedtothefurnitureandapplianceslistedinAnnexA duetoanycausewhatsoeverotherthantheordinarywearand tear,fortuitouseventsofActsofGodsuchastyphoon,earthquake, explosion,fire,flood,etc.shallbefortheaccountoftheLESSEE whoshallimmediatelyreplacethesametoitsoriginalcondition. Routinemaintenanceofappliancesshallbefortheaccountofthe LESSEEwhoshallimmediatelyreplacethesametoitsoriginal condition.Routinemaintenanceofappliancesshallbeforthe accountoftheLESSEE. 9. FIREHAZARDS&OBNOXIOUSSUBSTANCESTheLESSEE shallnotkeep,depositorstoreinthepremisesanyobnoxious substanceorinflammablematerialorsubstancethatmight constituteafirehazardorincreasetheriskofdamageor destructiontothepremises. 10.TAXESANDFIREINSURANCERealestatetaxes,government assessmentsandfireinsurancechargesshallbefortheLESSORs account. 11.THIRDPARTYLIABILITYTheLESSEEduringitsoccupancyof theleasedpremisesshallholdtheLESSORfreeandharmlessfrom anydamageorliabilityorresponsibilitytoanypersonorproperty arisingoutoforasaconsequenceoftheuseoftheleased propertybytheLESSEE,hisagents,employees,domestichelpand guests. TheLESSORfurther,shallnotbeliableforanyinjurytoanyperson (s)oranydamagetoanypropertycausedatanytimeinthe leasedpremisesorbuildingresultingfromsteamorelectricityor fromwater,orothersubstancewhichmayleakinto,issueorflow fromanypartofsaidbuilding,orfrompipesorplumbingworksof thesame,failureorfluctuationoftheelectriccurrent,orforany damageresultingfromthecarelessnessorimproperconducton thepartofanyotherlesseeofanyagentoremployeeofthe LESSEE,providedthatthecircumstancescontemplatedaboveshall notbetheresultofthenegligenceoftheLESSORorbydefective structure/facilitiesinstalledorcausedtobeinstalledbythe LESSOR.Insucheventuality,theLESSORshallimmediately undertakethenecessaryrepairworks. NocompensationorclaimshallbeallowedtheLESSORbyreason ofinconvenience,annoyanceorinjurytotheLESSEEarisingoutof necessitytorepairanyportionofthebuildingwheneverthe necessitymayarise.

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12.DAMAGETOTHELEASEDPREMISESIncaseofdamagetothe leasedpremisesasmaybeoccasionedbythefirenotattributable totheLESSEE,earthquake,typhoon,warorsimilarconcertedacts ofmen,noticethereofmustbemadeknowntotheLESSORwho shall,uponreceiptthereof,endeavortoseetoitthatthepremises arerenderedintenantableconditionwithintheearliestreasonable time.Ifhoweverthepremisesshallbedestroyedastomakethe premisesuntenantable,thepartiesmayagreetotherecessionof thiscontract.Expensesfortherepairandrestorationasabove indicatedshallbefortheaccountoftheLESSOR. 13.MAINTENANCEANDINSPECTIONOFTHEPREMISESThe LESSEEshallmaintaintheLEASEDPREMISESingoodcondition andtenantableconditionandforsuchpurpose,theLESSOR reservestherightatreasonabletimeandwithnoticetoenterand inspectthepremisesandtomakethenecessaryrepairshereof. TheLESSEElikewiseagreestocooperatewiththeLESSORin keepingthesaidpremisesingoodandtenantablecondition. 14.SALE,TRANSFERANDMORTGAGEIntheeventofthesale, transfer,mortgageoranyotherencumbranceoftheleased premises,thevendee,transfer,mortgageeshallrespectallthe termsandconditionsofthisleaseagreementincludingprovisions forrenewalthereof. 15.SURRENDEROFLEASEDPREMISESLESSEEshallimmediately quitandsurrenderpossessionoftheleasedpremisesandany improvementsthereontotheLESSORattheterminationofthis leasebyexpirationoftheleasetermorotherwiseinasgood conditionasreasonableuseandwearwillpermit. 16.VIOLATIONAnyviolationofthetermhereinsetforthbyeither LESSEEorLESSORshallbesufficientgroundforterminationofthis ContractofLeasebytheLESSORwithdamageaccruingtothe innocentparty. 17.ATTORNEYSFEESIncaseofcourtlitigationbyvirtueofnon paymentoftheagreedrentoranyotherbreachofthisagreement onthepartoftheLESSEE,theLESSORshallhavetherightto collecttheamountequivalentto20%ofthetotalobligationdueas liquidateddamagesandreasonablefees,exclusiveofthecost legallyaccrued. 18.RULESANDREGULATIONSTheLESSEEagreetoabidebythe existingrulesandregulationspromulgatedbythe _______________________. 19.ENTRYBYLESSORTheLESSORoritsauthorizedagentshall, bypreviousarrangementwiththeLESSEE,havetherighttoenter theleasedpremises,toexaminethesameormakerepairssubject totheconditionstipulatedintheimmediatelyprecedingparagraph offorpurposesdirectlynecessaryfortheoperationormaintenance ofthebuildingoritsinstallationandduringthelastsixty(60)days ofthetermofthelease,toexhibittheleasedpremisesto prospectivelessees.

INWITNESSWHEREOF,thepartiesheretohavesignedthese presentsonthedateandattheplacefirstabovementionedorwritten.

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________________________ (LESSOR)

________________________ (LESSEE)

SIGNEDINTHEPRESENCEOF: ________________________ _______________________

ACKNOWLEDGEMENT REPUBLICOFTHEPHILIPPINES) CITYOFMAKATI,METROMANILA)S.S. Name Com.Tax.Cert./PassportNo. Date&PlaceIssued

TIN:

TIN:

Intheirinstrumentalwitnesses,allknowntomeandtomeknownto bethepersonswhoexecutedtheforegoinginstrumentand acknowledgedtomethesameistheirownfreeandvoluntaryactand deedandthatoftheprincipalrepresented. ThisinstrumentreferstoaCONTRACTOFLEASEofthecondominium unit______________________________________,MakatiCity, consistingoffive(5)pagesincludingthispage.

WITNESSMAYHANDANDSEALthis__thdayof__________ 2006atMakatiCity.

Doc.No. : PageNo. : BookNo. : Seriesof2006

NOTARYPUBLIC