RESIDENTIAL RENTAL LEASE AGREEMENT

 
KNOW ALL MEN BY THESE PRESENTS:

This RESIDENTIAL RENTAL LEASE AGREEMENT is made and executed at the City of
Cebu, this 1st day of August, 2021, by and between:

        ------------------------, Cebu 6000, with UMID ID CRN------------- hereinafter referred to as

the LESSEE.

-AND-

       --------------------------------, hereinafter referred to as the LESSOR.

-VIA-

Gama Rae Perez Comaingking, of legal age, Filipino, and with residence and postal address
at BR 193 Palm King St. Briza Subdivision, Nangka, Consolacion, hereinafter referred to as
the MANAGER.
 
 WITNESSETH; That
 
WHEREAS, the LESSOR is the owner of THE LEASED PREMISES, a residential property
situated at Block 9, Lot 33 Camella Lessandra Talamban, Miramonte Subdivision,
Talamban, Cebu City, Cebu 6000 under the care and authority of the MANAGER.
 
WHEREAS, the LESSOR agrees to lease-out the property to the LESSEE through the
MANAGER and the LESSEE is willing to lease the same through the MANAGER.
 
WHEREAS, the MANAGER shall sign and process documents with LESSOR in behalf of
LESSEE through a Special Power of Attorney.

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
through the MANAGER, 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 according to the regulations of the Lessandra Talamban community
guidelines. It is hereby expressly agreed that if at any time the premises are used for other illegal
and unethical purposes, the LESSOR and MANAGER shall have the right to rescind this
contract without prejudice to its other rights under the law.
 

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2. TERM:  This term of lease is for at least THREE (3) YEARS. from August 1, 2021 to August
1, 2024 inclusive. Upon its expiration, this lease may be renewed under such terms and
conditions as may be mutually agreed upon by both parties, written notice of intention to renew
the lease shall be served to the LESSOR through the MANAGER at least thirty (30) days prior to
the expiry date of the period herein agreed upon.

3. 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 TWO (2) MONTHS or the sum of PESOS:
TWENTY THOUSAND (P 20,000.00), Philippine Currency, wherein the one (1) month deposit
shall be applied as advanced rent payment and one (1) month deposit shall answer partially for
damages and any other obligations, for utilities not limited to Water, Electricity, CATV,
Telephone, Internet, Association Dues or resulting from violation(s) of any of the provision of
this contract. In case of non-violation, the deposit shall be returned in full upon exit of premises
after expiration of contract.

4. RENTAL RATE: The monthly rental rate for the leased premises shall be in PESOS: TEN
THOUSAND (P 10,000.00), Philippine Currency. All rental payments shall be payable to the
LESSOR via MANAGER only. The MANAGER shall document all payments from start of
RENTAL until the end of contract, accessible by both LESSOR and LESSEE.

The rent shall be due every 1st day of the month until the termination or cancellation of the
agreement. There shall be no rate increase for the entire duration of the contract unless through
separate agreement.
 
 5. MODE OF PAYMENT: The LESSEE may deposit the payment through the following
accounts:
Bank: Bank of the Philippine Islands
Account number: 1029341534
Account name: Gama Rae Comaingking

Bank: Unionbank of the Philippines

Account number: 109427753331
Account name: Gama Rae Comaingking

The MANAGER shall record the transactions and issue an acknowledgement receipt for the
payments.

6.a. RENOVATION TO TURNOVER STATE: The unit requires renovation to return to

original Margarita inner unit TURNOVER STATE in Lessandra Talamban. The LESSOR
acknowledges the current state of the unit and agrees to reimburse renovations made by LESSEE
as replacement or repairs for the items found in ANNEX A.

Other repairs and renovations for aesthetic or preference purposes excluded in the original
Lessandra Margarita inner unit TURNOVER STATE mentioned above shall be shouldered by
the LESSEE without reimbursement. The LESSEE takes full responsibility of the durability and

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quality of procured materials and holds the LESSOR free from liability caused by
RENOVATION.

6.b. REIMBURSEMENT CONDITIONS: The REIMBURSEMENT shall be in the form of

RENTAL RATE for subsequent months equivalent to the documented value of renovations
subject to assessment and approval by MANAGER. The REIMBURSEMENT shall be
retroactive in nature at least ONE (1) MONTH following MANAGER assessment of
documentation provided by LESSEE.

Overall material costs to be shouldered by the LESSOR shall be a maximum of sum in PESOS:
SIXTY THOUSAND (P60,000.00) Philippine Currency to be subtracted in subsequent
TWELVE (12) RENTAL MONTHS. Excess material costs shall be shouldered by LESSEE
without reimbursement.

Overall labor costs to be shouldered by the LESSOR shall be a maximum of sum in PESOS:
TWENTY THOUSAND (P20,000.00) Philippine Currency to be subtracted in subsequent FOUR
(4) RENTAL MONTHS after reimbursement of material costs. Excess labor costs shall be
shouldered by the LESSEE without reimbursement.

Reimbursement from RENTAL RATE will be at maximum sum in PESOS: FIVE THOUSAND
(P5,000.00) Philippine currency per MONTH for at most SIXTEEN (16) MONTHS for material
and labor costs.

6.c. RENOVATION DOCUMENTATION: The LESSEE must inform the MANAGER of the
planned renovations in writing and document before and after photos as evidence. The LESSEE
must attach relevant valid receipts and proofs of payment.

7. LATE PAYMENT PENALTY: The LESSEE shall pay no later than five (5) business days
after the due date. The MANAGER shall impose a penalty of TEN (10%) percent for any missed
or lacking payments, payable on the due date of the following month. The LESSEE shall only
incur late payment of up to one (1) month only before the payment is considered DEFAULT.

8. DEFAULT PAYMENT: In case of default by the LESSEE in the payment of the rent, such
as when the checks are dishonored or the LESSEE has not fully paid RENTAL RATE for more
than two (2) months, the LESSOR at its option may terminate this contract and eject the
LESSEE. The LESSOR has the right to padlock the premises when the LESSEE is in default of
payment for One (1) month and may forfeit whatever rental deposit or advances have been paid
by the LESSEE.

9. OWNERSHIP OF PROPERTY: The Lessandra property in this contract is still solely

owned by the LESSOR. Therefore, electrical and water utilities will be under the LESSOR or the
MANAGER’s. LESSEE is prohibited from selling the property or any portion or arranging any
external agreements with any third party. Any renovations or deals conducted within the property
should be performed with a signed written agreement with the MANAGER.

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10. SUB-LEASE: The LESSEE shall not directly or indirectly sublet, 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 or
MANAGER’s written approval.

11. PUBLIC UTILITIES: The LESSEE shall pay for its telephone, electric, cable TV, water,
Internet, association dues and other public services and utilities during the duration of the lease.
The LESSOR and MANAGER are not responsible for failure to comply leading to disconnection
or other issues. If the utilities are disconnected before the end of the contract due to negligence,
the LESSOR will use the LESSEE deposit to apply for reconnection without reimbursement or
refund.
 
12. FORCE MAJEURE: If whole or any part of the leased premises shall be destroyed or
damaged by fire, flood, lightning, typhoon, earthquake, storm, riot or any other unforeseen
disabling cause of acts of God, as to render the leased premises during the term substantially
unfit for use and occupation of the LESSEE, then this lease contract may be terminated without
compensation by the LESSOR or by the LESSEE by notice in writing to the other.
 
13. LESSOR'S RIGHT OF ENTRY: The LESSOR or its authorized agent shall after giving
due notice to the LESSEE shall have the right to enter the premises in the presence of the
LESSEE or its representative at any reasonable hour to examine 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.
 
14. 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 with all corresponding keys and in as good and tenable condition as the same is now,
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%) percent 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.
 
15. JUDICIAL RELIEF: Should any one of the parties herein be compelled to seek judicial
relief against the other, the LESSEE shall pay an amount of claimed by LESSOR as 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.

16. END OF LEASE: This CONTRACT OF LEASE shall be valid and binding between the
parties, their successors-in-interest, and assigns until the end of TERM. The LESSEE shall
ensure a proper turnover state as stipulated in ANNEX A. Renovations reimbursed shall be
considered ownership of the LESSOR and shall be subject to corresponding damages.

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IN WITNESS WHEREOF, parties herein affixed their signatures on the date and place above
written.
 
 
 

Gama Rae Comaingking                              Mae Richelle Stella Malagsic

MANAGER LESSEE
     

  Jeanette Kiamco Perez

LESSOR
By: Attorney-in-fact: Gama Rae Comaingking
 
Signed in the presence of:
 
 
_____________________________                  ______________________________
 

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 ACKNOWLEDGEMENT
 
Republic of the Philippines)
City of Cebu) S.S
 
BEFORE ME, personally appeared:
 
   Name                                 VALID ID             Date/Place Issued
 
(Name of Lessee)
(Name of Manager)
 
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 six (6) 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___.

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 ANNEX A. HOUSE REPAIRS COVERED BY REIMBURSEMENT

The following are the repairs and renovations acknowledged by the LESSOR:
 Electrical wiring, lighting and fuse or breaker installations;
 Back door and door frame;
 Paint for door and door frame;
 Missing jalousie in back window;
 Comfort room door flap;
 Railing for second floor;
 Second floor insulation or ceiling;
----------------------------------------------- nothing follows ----------------------------------------

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ANNEX B. LESSEE GOVERNMENT-ISSUED IDS

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ANNEX C. OLD PHOTOS OF LEASED PREMISES PRIOR TO MOVEIN

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