LEASE AGREEMENT

KNOW ALL MEN BY THESE PRESENTS:

This LEASE AGREEMENT made and entered into in the Municipality of ____________ City, Philippines,
on this _____ day of________________, 20____ by and between:

24h Property & Management Services Inc., a corporation duly organized and existing under and by virtue of
the laws of the Republic of the Philippines, with principal office address at 1406 Vito Cruz Extension corner Balagtas
Street, Barangay La Paz, Makati City, Philippines, represented herein by its President, Mr. Francis J. Gustilo, hereinafter
referred to as the “LESSOR”: And

______________________________________________, represented herein by its ________________________,

(company name) (position)
_______________________________________, ______________, of legal age, _________________, with office address
(name) (citizenship) (marital status)

at ______________________________________________________________, hereinafter referred to as the “LESSEE”;

(address)

WITNESSETH

That in consideration of the monthly rent which the LESSEE binds himself to pay the LESSOR, as hereafter
specified, and in further consideration of the covenant hereafter contained and to be performed by the LESSEE to the
LESSOR by these present hereby LETS and DELIVERS BY THE WAY OF LEASE unto the LESSEE, and the latter
hereby LEASE and RECEIVES from the former in good condition and as presented by the LESSOR the LEASED
PREMISES:
Commercial Unit No. ______ of ________________________________ at _____________________________________,
. (building name) (building address)
with an area of ______ square meters more or less.
(sqm.)

1. LEASE PERIOD – The lease is for a definite fixed period of _____ months beginning
_____________________ up to _____________________.

2. RENTAL – The LESSEE binds himself to pay to the LESSOR monthly rental of
PESO:_________________________________________(P_____________) Philippine Currency, inclusive
of Value Added Tax, and net of Withholding Tax on or before every 5th day of the month. The LESSEE
shall pay directly to the Bureau of Internal Revenue (BIR) and furnish the LESSOR a copy of Creditable
Withholding Tax at source. The LESSEE shall be required to issue monthly post-dated checks for the
duration of the lease period. A penalty of FIVE PERCENT (5%) per month shall be imposed for late
payments of any and all charges in connection to the lease.

3. RENEWAL – This agreement may be renewed under such terms and conditions as may be mutually agreed
upon by both parties, provided, however, that the LESSEE shall manifest in writing its desire to renew at
least ONE (1) MONTH before the expiration of this lease.

4. DEPOSIT – The LESSEE further agrees to pay to the LESSOR the equivalent of two (2) months rent as
security deposit. The deposit shall remain intact for the duration of the lease and no monthly rental or utilities
may be charged against the deposit. The deposit shall be returned to the LESSEE upon termination of this
lease sixty (60) days after final settlement of accounts, less whatever unpaid amounts including damages or
bills incurred by the LESSEE, such as dues, electricity, telephone, cable, water, etc. In the event of pre-
termination of this contract, the entire amount of the security deposit shall be forfeited in favor of the
LESSOR.

5. HOLD OVER – In the event of continued use by the LESSEE of the leased premises without renewal
beyond the lease period, a TEN PERCENT (10%) surcharge shall be added to the monthly rental rate. In no
case may the hold over of the lease exceed three (3) months.

6. USE OF PREMISES – It is to the essence of this contract that the LESSEE or its assigned person shall use
the leased premises exclusively for commercial purpose. It shall not be used for immoral or unlawful
activities; The LESSEE shall, at his expense, maintain the leased property in clean and sanitary condition.
The LESSEE shall use the property in such a way that the same will not constitute nuisance, and shall not
permit noxious odors or noises to emanate from the leased property. Furthermore, the LESSEE shall at all
times abide by the House Rules promulgated or posted by the LESSOR thru the Building Administrator.

7. ALTERATION – Without the written consent of the LESSOR, the LESSEE shall not make any alteration,
addition or improvements on the leased premises. Upon the expiration of the lease, any alteration, addition,
improvements, or damages arising from the same shall require the LESSEE to remove the same and restore
the leased premises for the affected portion thereof to their original condition; all repairs and expense shall be
charged and accountable to the LESSEE;
 8. REPAIRS – The LESSEE shall bear the following repairs and expenses; replacement of light bulbs, fuses,
broken handles, lost key, supervision charges by third party suppliers or utilities, installation and removal of
appliances including restoration of any damages of breakage due to negligence of the LESSEE, its household
or guest. The LESSOR or his representatives shall have access to the premises for routine maintenance and
inspection, at reasonable hours.

9. UTILITIES AND SERVICES – All expense for water, electricity, gas, telephone, garbage fees, cable,
association dues and other convenience used or to be used by the LESSEE in the premises, including the
installation of the same, shall be for the LESSEE’S account.

10. SUBLEASE – The LESSEE, during its occupancy of the leased premises or any portion thereof cannot
sublease the leased premises without the knowledge and written consent of the LESSOR.

11. ASSIGNMENT – The LESSEE may only assign this lease agreement to another individual with the express
written consent of the LESSOR and a minimum administrative fee of Three Thousand Pesos (P3,000.00).

12. ABANDONMENT – In the event the LESSEE accumulates an overdue amount exceeding the equivalent of
one (1) month rent, and failure by the LESSEE to establish communication with the Building Administrator
within thirty (30) days after due date, the unit shall be declared abandoned. The LESSEE acknowledges that
all belongings and personal effects found inside the unit shall be kept in storage for thirty (30) days after
which shall be discarded if unclaimed.

13. THIRD PARTY LIABILITY – The LESSEE, during its occupancy of the leased premises, shall hold the
LESSOR free and harmless from any loss, damage, liability or responsibility to any person or property arising
out of or as consequences of the use of the leased property by the LESSEE, his agents, employee, domestic
help and guest; including food poisoning or any harm caused by cooking, selling of products and serving of
food by the LESSEE to any customer.

14. PROSPECTIVE TENANTS – during the last month of the lease, the LESSEE shall allow the LESSOR or
his representatives to show the leased premises to prospective tenants, during business hours.

15. RETURN OF LEASE PREMISES – Upon the expiration of the lease period the LESSEE shall peacefully
vacate the leased premises and restore possession thereof to the LESSOR in as good condition as at time of
delivery to the LESSEE. The LESSEE shall accordingly turn over to the LESSOR, all keys to the leased
premises including all duplicates.

16. MORTGAGE OR SALE PROPERTY – The LESSOR warrants peaceful and continued possession and
enjoyment of the leased premises by the LESSEE. The LESSOR reserves the right to mortgage, sell or
otherwise dispose of the leased property provided that the LESSEE’S rights under this lease are respected.

17. BREACH – In the event of failure by the LESSEE to pay the rent in the amount, on the day and in the
manner agreed upon, or in case of breach of any of the conditions of this lease, the LESSOR can, in addition
to the right of the ejectment to which the LESSOR is entitled, be entitled to terminate the lease without prior
notice, forfeit the rental deposit stated under No. 4 hereof, hold any personal properties of the resident from
leaving the building premises, and take any other legal steps he deems necessary to collect the rent which
may be due, and any additional cost that he may reasonably incur in that connection shall be added to the rent
which is due and shall be paid by the LESSEE.

IN WITNESS WHEREOF, these presents are assigned at the Municipality of ____________ City,
Philippines on this _____ day of ________________, 20____.

24h Property & Management Services Inc.

_____________________________________ ____________________________________
FRANCIS J. GUSTILO
LESSOR LESSEE
Signed in the Presence of:

_____________________________________ ____________________________________
Building Administrator
ACKNOWLEDGEMENT
REPUBLIC OF THE PHILIPPINES)
______________ CITY ) S.S

BEFORE ME, a Notary Public, in and for the city of ____________, Philippines, on this _____ day of __________________,
20____ personally came and appeared MR. FRANCIS J. GUSTILO with Driver’s License No. N01-01-268286 issued at the City of
Makati, on __________________ and ______________________________ with _____________________________ issued at the city
of ____________ on _____________________. All known to me the same as their free and voluntary act and deed.

Doc. No. __________________

Page No. __________________
Book No. __________________
Series of __________________