CONTRACT OF LEASE

KNOW ALL MEN BY THESE PRESENTS:

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

_____________________, of legal age, Filipino, widow, and a resident of

_____________________, (hereinafter referred to as the "LESSOR"

- and -

_____________________, of legal age, Filipino, married, and a resident of

_____________________, (hereinafter referred to as the "LESSEE");

WITNESSETH; that -

WHEREAS, the LESSOR is the registered owner of a building located at

_____________________.

WHEREAS, the Lessor desires to lease out a portion of the afore-described property in favor of
the LESSEE and the LESSEE accepts the lease subject to the terms and conditions herein set
forth.

NOW, THEREFORE, for and in consideration of the foregoing premises and the covenants
hereinafter stipulated, the parties hereby agree as follows:

1. The term of this contract shall be for a period of _____________________ year from
_____________________ to _____________________. Upon expiration of this one-
year contract, the lease shall be renewable every _____________________ year at the
sole discretion of the LESSOR and subject to a _____________________ percent (___
%) increase in monthly rental.

2. Monthly Rental. The monthly rental for the leased premises is _____________________
PESOS only (_____________________) net per month and payable every ______ day of
each month commencing on _____________________. Any tax shall be borne by the
LESSEE.

3. Advance Rental Payment & Security Deposit. Upon signing of this contract, the LESSEE
shall remit a one-month advance rental payment and a one-month security deposit, as
follows:

a. One (1) month advance rental payment: _____________________ PESOS

(PhP_____________________), applied as rental payment for the last one (1)
month of this contract; and,
b. One (1) month security deposit: _____________________ PESOS
(PhP_____________________), to serve as security deposit for any unpaid utility
bills such as electricity, water, telephone, sanitation, sewerage and others, and to
answer for any damages which the Leased Properties may suffer as well as to
cover any unpaid monthly rent; interests or penalties.

4. In case of renewal of the contract, the LESSEE shall update the deposit in proportion to
the increase in the monthly rental. The balance of the security deposit, if any shall be
 returned to the LESSEE thirty (30) days after the end of the lease. In case the deposit is
not enough to cover for the unpaid utilities, the LESSEE shall pay the deficiency within
five (5) days from receipt of demand from the LESSOR. At no instance shall the security
deposit be applied payment of the rental.

5. The LESSEE shall occupy the leased premises exclusively as a

_____________________. In case the leased premises will be used for any other
purpose, the LESSEE must seek prior written consent from the LESSOR.

6. The leased premises or any part of it shall not be subleased, transferred, or assigned by
the LESSEE without the LESSOR’s prior written consent.

7. The LESSEE acknowledges that the leased premises is in good and tenable condition and
undertakes at his / her expense and without right of reimbursement for ordinary repair
and minor repairs that are necessary or may be required to maintain the same in good and
tenable condition. The LESSEE must immediately inform the LESSOR in case of major
repair is needed on the leased premises.

8. All alterations, additions, and improvements made by the LESSEE, except the movable
furniture and fixtures put at his expense and removable without defacing or injuring the
building, shall become the property of the LESSOR and shall remain as part of the leases
premises, without right of reimbursement of the latter.

9. Water, light, gas, telephone, and other utility services used or consumed in the leased
premises shall be for the account of the LESSEE.

10. The LESSOR shall not be liable or responsible for:

a. The presence of bugs, anay, vermin, ants, rats, insects, or other pests in the leased
premises;
b. The failure of water supply, electric current, breakdown / failure / non-
performance of any electric equipment, whether due to low voltage, faulty electric
current, or any other causes or reason whatsoever; and,
c. Any injury, loss, or theft that the LESSEE, their agents, servants, employees, and
guests might sustain in the leased premises due to any cause.

11. The LESSEE shall, at their expense, maintain the leased premises in a clean and sanitary
condition. At the end of lease, the LESSEE shall surrender and return the leased
premises in good condition, as it was found at the beginning of the lease, ordinary wear
and tear excepted.

12. The LESSEE shall be responsible for any and all acts or omissions of their employees,
servants, agents, and customers, including any and all other persons whom they might
have allowed access to the leased premises.

13. In case the leased premises shall be deserted or vacated by the LESSEE without
surrendering the same to the LESSOR, the latter shall have the right in addition to its
right to cancel this contract, by reason of the abandonment, to enter the same without
being liable to any prosecution. In addition, the LESSOR shall furthermore has the right
to immediately take possession and release the same to the other person.

14. Upon expiration of the terms of this lease or earlier terminated therefore as above
provided, the LESSEE hereby expressly authorize the LESSOR to enter the leased
 premises, remove all personal properties that may be found in the leased premises and
deposit the same in another place. The LESSEE further agrees to pay all costs for
transfer and storage in the event that the LESSOR chooses to exercise this action.

15. The LESSOR or his / her authorized representatives shall have the right to inspect the
leased premises at any reasonable hour of the day.

16. The LESSOR may cancel or terminate this Lease Agreement, upon the happening of any
of the following events:

a. The LESSEE fails to pay its monthly rent when the same falls due;
b. The LESSEE uses the Leased Properties for purposes other than those specified
herein; and,
c. The LESSEE violates any of the other terms and conditions of this Lease
Agreement.

IN WITNESS WHEREOF, the parties have hereunto set their hands this ____ day of
___________ _____________________.

_____________________________ _____________________________
Lessor Lessee

Signed in the presence of:

_____________________________ _____________________________
Witness Witness

ACKNOWLEDGEMENT

Republic of the Philippines )

________________________) S.S.

BEFORE ME, a Notary Public for and in the Cities and Province of _______________ this
_______________ at ______________________ personally appeared.

Name CTC Number Date / Place Issued

Known to me and to me known to be the same persons who executed the foregoing Contract of Lease
consisting of _____ pages including this page of the acknowledgement and they acknowledge to me that
the same is their free and voluntary act and deed.

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

Notary Public

Doc. No.______;
Page No. ______;
Book No.______;
Series of 20_____.