CONTRACT OF LEASE

KNOW ALL MEN BY THERE PRESENTS:

This Contract of Lease made and entered into by and

between:

_________________, of legal age, Filipino and a resident

of _____________________________, Philippines, hereinafter
referred to as the “LESSOR”

And

_______________________, also of legal age, Filipino,

and a resident of _______________, Philippines, hereinafter
referred to as the “LESSEE”

-WITNESSETH, that:

WHEREAS, the LESSOR is the owner of a commercial

building, which is more particularly described as follows:

“A commercial space, situated at

______________________, containing a total
floor area of ______ sq. meters”

WHEREAS, the LESSEE is desirous of leasing from the

LESSOR, the above described property and LESSOR is willing to
lease the same to the LESSEE ;

NOW THEREFORE, for and in consideration of the

foregoing, LESSOR does hereby let, lease and demise unto
LESSEE the above-described property under terms and
conditions and stipulations as follows:

1. This Contract of Lease shall be in force for a

period of two (2) years from January 2, 2017 to
January 2, 2019 ;

2. That the LESSEE shall pay the monthly rentals in

the amount of _______________________
(Php___________) Pesos, which payment is given
every 2nd day of the month and shall be subject to
any increase in the duration of this contract ;

3. That the LESSEE shall pay one (1) months advance

(consumable) and one (1) month deposit ;
4. The building and its permanent improvements
introduced by LESSEE which cannot be removed
without causing harm or damage thereto shall become
the absolute property of LESSOR upon the expiration
of this Contract without any obligation on the part
of LESSOR to pay or reimburse LESSEE of its
expenses and without need of executing any other
document and LESSEE shall then deliver said
building free from all liens and encumbrances
whatsoever unto LESSOR ;

5. LESSEE shall solely be liable for the cost of

water, gas, electric current, telephone and other
like utilities that it may cause to be connected or
installed in the leased promise, including other
repairs and any damage in the building shall be
charge to the LESSEE ;

6. That this Contract of Lease is renewable upon

mutual agreement of the parties ;

7. If the rental herein stipulated, or any part

thereof, at any time, shall be in the arrears and
unpaid, this lease contract shall become
automatically terminated and the said premises
shall be vacated peacefully by the LESSEE ;

8. The LESSEE hereby expressly recognizes the absolute

right to the LESSOR to sell the leased premises,
and in the event of sale, this contract of lease
shall be deemed cancelled and the right of the
LESSEE to occupy the premises considered
automatically terminated subject to two (2) month’s
notice given by the LESSOR ;

9. That in case of disagreement in the terms and

conditions of the Lease Contract, the same shall be
submitted to a group of arbitrators composed of
three members, one to be appointed by LESSOR,
another by LESSEE and the third on to be agreed
upon by two arbitrators previously chosen and the
parties hereto shall submit to the decision of the
arbitrators ;

10. The parties hereto agree on a faithful

execution of the provision hereof and to settle
difference that may arise herefrom amicably. Should
any controversy arise which the parties hereto
cannot resolve, the same shall be submitted to a
group of arbitrators and the parties hereto shall
submit to the decision of the arbitrators.
 IN WITNESS WHEREOF, the premises hereto have hereunto
set their hands this ___th day of December 2016 at San
Francisco, Agusan del Sur.

_________________ ____________
(lessor) (lessee)

Signed in the presence of:

_______________________ _________________________

REPUBLIC OF THE PHILIPPINES )

PROVINCE OF AGUSAN DEL SUR )SS
MUNICIPALITY OF SAN FRANCISCO )

ACKNOWLEDGMENT

BEFORE ME, this __th day of December 2016 at San

Francisco, Agusan del Sur, personally appeared the above-
named persons known to me to be the same persons who executed
the foregoing instrument, and they acknowledged to me that
the same are their free act and deed.

WITNESS MY HAND AND SEAL, the day, year and place above-
mentioned.

Doc. No.
Page No.
Book No.
Series of 2016