CONTRACT OF LEASE

KNOW ALL MEN BY THESE PRESENTS:

This CONTRACT OF LEASE is made and executed at the City of _____, this day of
_______________, 20____, by and between:
 
        (NAME OF LESSOR), of legal age, single/married to (Name of spouse if any),  
Filipino, and with residence and postal address at (Address), hereinafter referred to as
the LESSOR.
 
-AND-
 
        (NAME OF LESSEE), Filipino and with residence and postal address at
(Address), hereinafter referred to as the LESSEE.
 
WITNESSETH; That
 
WHEREAS, the LESSOR is the owner of THE LEASED PREMISES, a residential
condominium unit situated at (Address of property to be leased);
 
WHEREAS, the LESSOR agrees to lease-out the property to the LESSEE and the
LESSEE is willing to lease the same;
 
NOW THEREFORE, for and in consideration of the foregoing premises, the
LESSOR leases unto the LESSEE and the LESSEE hereby accepts from the LESSOR
the LEASED premises, subject to the following: 
 

TERMS AND CONDITIONS

 
1. PURPOSES:   That premises hereby leased shall be used exclusively by the LESSEE
for residential purposes only and shall not be diverted to other uses. The lessor cannot
alter the form of the thing leased in such a way as to impair the use to which the thing
is devoted under the terms of the lease. It is hereby expressly agreed that if at any
time the premises are used for other purposes, the LESSOR shall have the right to
rescind this contract with right to payment of damages plus forfeiture of advance
payments and security deposit.

2. CONDITION OF THE PREMISES. The LESSEE has examined the premises,

including the appliances, fixtures and furnishings, and acknowledges that they are in
good condition and repair, normal wear and tear excepted and accepts them in its
current condition. The LESSEE further undertakes to take good care of these
appliances, fixtures and furnishings which shall be under his/her responsibility for
the duration of this contract hence may be liable for the corresponding value of the
property in case of damage. Copy of which is hereto attached as Annex “A”.
 
3. TERM:  The term of lease is for ONE (1) YEAR which shall commence from
___________ to ______________. Upon its expiration, this lease may be renewed under
such terms and conditions as my be mutually agreed upon by both parties, written
notice of intention to renew the lease shall be served to the LESSOR not later than
thirty (30) days prior to the expiry date of the period herein agreed upon.
 
4. RENTAL RATE:   The monthly rental rate for the leased premises shall be in
PESOS: TWENTY FIVE THOUSAND (P 25,000.00). The LESSEE shall issue eleven (11)
post-dated checks (PDC) for the eleven (11) monthly rentals. All rental payments shall
be payable to the LESSOR.
 
5. DEPOSIT:   That the LESSEE shall deposit to the LESSOR upon signing of this
contract and prior to move-in an amount equivalent to the rent for ONE (1) MONTH or
the sum of  PESOS: TWENTY FIVE THOUSAND (P 25,000.00),  wherein the ONE (1)
month deposit shall be applied as rent for 12 th month. Further, the LESSEE shall
deposit the sum of PESOS: FIFTY THOUSAND (P50,000.00) as SECURITY DEPOSIT
which shall cover applicable damages and any other unpaid obligations for utilities
such as Water, Electricity, CATV, Telephone, Internet and/or resulting violation(s) of
any of the provision of this contract.
 
6. DEFAULT PAYMENT:  In case of default by the LESSEE in the payment of the rent,
such as when the checks are dishonored, the LESSOR at its option may terminate this
contract and eject the LESSEE without the need of formal demand. The LESSOR has
the right to padlock the premises or prohibit entry to the premises when the LESSEE
is in default of payment for ONE (1) month and may forfeit whatever rental deposit or
advances given by the LESSEE. This is without prejudice to filing of appropriate
criminal and civil case.
 
7. SUB-LEASE:   The LESSEE shall not directly or indirectly sublease, allow or permit
the leased premises to be occupied in whole or in part by any person, form or
corporation, neither shall the LESSEE assign its rights hereunder to any other person
or entity and no right of interest thereto or therein shall be conferred on or vested in
anyone by the LESSEE without the LESSOR'S written consent or approval.
 
8. PUBLIC UTILITIES:   The LESSEE shall pay for its telephone, electric, cable TV,
water, internet and other public services and utilities during the duration of the lease.
The LESSOR shall not be liable in case of disconnection due to default in monthly
dues.
 
9. FORCE MAJEURE:   If whole or any part of the leased premises shall be destroyed
or damaged by fire, flood, lightning, typhoon, earthquake, storm or any other
unforeseen disabling cause of acts of God, as to render the leased premises
uninhabitable or substantially unfit for use and occupation of the LESSEE for more
than forty (40) days, then this lease contract may be terminated by the LESSOR or by
the LESSEE by notice in writing to the other. The LESSEE shall notify the LESSOR
immediately or within reasonable time of such damage for inspection and/or repair by
the LESSOR or his authorized representative/agent.
 
10. LESSOR'S RIGHT OF ENTRY:   The LESSOR or its authorized
representative/agent shall after giving due notice to the LESSEE has the right to enter
the premises in the presence of the LESSEE or its representative at any reasonable
hour to examine and/or inspect the same or make repairs therein or for the operation
and maintenance of the building or to exhibit the leased premises to prospective
LESSEE, or for any other lawful purposes which it may deem necessary. The LESSOR
shall have the right to check and inspect the premises once every quarter to ensure
compliance of any of the provision of this contract.
 
11. EXPIRATION OF LEASE:   At the expiration of the term of this lease or
cancellation thereof, as herein provided, the LESSEE will promptly deliver to the
LESSOR the leased premises in good and tenable condition in the same way he
received the premises at the time of commencement of this contract with all
corresponding keys and ordinary wear and tear expected devoid of all occupants,
movable furniture, articles and effects of any kind. Non-compliance with the terms of
this clause by the LESSEE will give the LESSOR the right, at the latter's option, to
refuse to accept the delivery of the premises and compel the LESSEE to pay rent
therefrom at the same rate plus Twenty Five (25) % thereof as penalty until the
LESSEE shall have complied with the terms hereof.  The same penalty shall be
imposed in case the LESSEE fails to leave the premises after the expiration of this
Contract of Lease or termination for any reason whatsoever.

12. IMPROVEMENTS and ALTERATIONS: It is agreed that the LESSEE is expressly

prohibited from making or introducing any form of alteration and improvements
whether temporary or fixed. In case any fixed improvements or renovations is
introduced by the LESSEE, such shall become the property of the LESSOR after the
expiration of the term of this Contract and may be subject to payment of damages.
13. MAINTENANCE and REPAIRS: LESSEE shall maintain the premises and all
appliances, fixtures and furnishings, in clean, sanitary and good condition and repair.
LESSEE shall not remove any appliances, fixtures, or furnishings from the premises
for any purpose. If repairs are required, LESSEE shall notify LESSOR for such repairs.
All major and necessary repairs shall be for the account of the LESSOR provided such
damage/s is not caused by LESSEE'S fault, negligence or fraud. Otherwise, such
repair shall be for the account of the LESSEE.

14. SMOKING: Smoking of any kind is strictly prohibited on any part of the premises.
This prohibition applies to LESSEE and any visitors, guests or other occupants on the
premises.

15. PETS: LESSEE is not allowed to have or keep any pets, even temporarily, on any
part of the premises. The unauthorized presence of any pet will subject to penalties,
damages, deductions and/or termination of this Agreement. Properly trained service
animals that provide assistance to individuals with disabilities may be permitted on
the premises with the prior written consent of LESSOR, which shall not be
unreasonably withheld. LESSEE will be responsible for the costs of de-fleaing,
deodorizing and/or shampooing all or any portion of the premises if a pet has been on
the premises at any time during the Term (whether with or without written consent of
the LESSOR).
16. LIABILITY: LESSOR is not responsible or liable for any loss, claim, damage or
expense as a result of any accident, injury or damage to any person or property
occurring anywhere on the premises, unless resulting from the negligence or willful
misconduct of the LESSOR.

17. COMPLIANCE: LESSEE agrees to comply with all applicable laws, ordinances,

requirements and regulations of the building administrator and other authorities.

18. HAZARDOUS MATERIALS: LESSEE shall not keep on the premises any item of a
dangerous, flammable, or explosive character that might unreasonably increase the
danger of fire or explosion on the premises or that might be considered hazardous or
extra hazardous by any responsible insurance company.

19. PRE-TERMINATION CLAUSE: In case of pre-termination by the LESSEE without

justifiable reason and prior notice for reasons contrary to law, morals and public
policy and for violating any provision of this contract, the security deposit and advance
rentals shall be forfeited in favor of the LESSOR.
 
20. JUDICIAL RELIEF:   Should any one of the parties herein be compelled to seek
judicial relief against the other, the losing party shall pay an amount of One Hundred
(100) % of the amount clamed in the complaint and the attorney's fees which shall in
no case be less than P50,000.00 pesos in addition to other cost and damages which
the said party may be entitled to under the law. The complaint, action, petition or case
shall be filed exclusively in Quezon City courts to the exclusion of all and any other
courts.

21. AMENDMENTS: This Agreement may be amended or modified only by a written

agreement signed by the parties.
 
22. This CONTRACT OF LEASE shall be valid and binding between the parties, their
successors-in-interest and assigns.
 
IN WITNESS WHEREOF, parties herein affixed their signatures on the date and place
above written.
 
 
(Name of Lessor)                               (Name of Lessee)
LESSOR                                                LESSEE

Signed in the presence of:

 _____________________________                  ______________________________
ACKNOWLEDGEMENT

Republic of the Philippines)

_________________________) S.S
 
BEFORE ME, personally appeared:
 
   Name                                 ID Number             Date/Place Issued
(Name of Lessor)                      10000000          February 24, 20__ / Cavite City
(Name of Lessee)                      10000000           January 07, 20__ / Makati
 
Known to me and to me known 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 instrument consisting of ____ page/s, including the page on which this
acknowledgement is written, has been signed on each and every page thereof by the
concerned parties and their witnesses and sealed with my notarial seal.
WITNESS MY HAND AND SEAL, on the date and place first above written.
                                                                    
                                                                                                                                                 
Notary Public
 
Doc. No.______;
Page No. ______;
Book No.______;
Series of 20___.
 
List of appliances, fixtures and furnishings which shall be under the responsibility of
the LESSOR for the duration of this contract and shall be subject to applicable
damages equal to the value as stated below in case of damage/s.

Description Value
1 Carrier Split type AirCon 40,000.00
2 TCL LED TV 20,000.00
3 Panasonic Refrigerator 20,000.00
4 Microwave Oven 5,000.00
5 Range Hood 5,000.00
6 Induction Stove 5,000.00
7 Sofa 25,000.00
8 Dining Table and Chairs 15,000.00
9 Pull-out Bed 35,000.00
10 Cabinet with Sliding Door 15,000.00