CONTRACT OF LEASE

KNOW ALL MEN BY THESE PRESENTS:

This CONTRACT OF LEASE, made and executed this ___ day of

____________________ in ___________________________, by and between:

VERONICA TONGIO-IGOT, Filipino, of legal age with address at

No. 127-A Capetown St., Pasig Greenpark, dela Paz, Pasig City,
hereinafter referred to as "LESSOR";

- and -

____________________, of legal age, Filipino, and with residence

at ________________________hereinafter referred to as the
"LESSEE."

W I T N E S S E T H: That -

WHEREAS, the LESSOR is the registered owner of a townhouse situated at Unit 127-
B Capetown St., Pasig Greenpark, dela Paz, Pasig City, hereinafter referred to as the
“Leased Premises”;

WHEREAS, the LESSOR has accepted the offer of the LESSEE to lease the Leased
Premises for residential purposes only, subject to the terms and conditions set forth herein;

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

1. PERIOD OF LEASE. - This Contract of Lease shall be for a period of one (1) year,
commencing from __________2021 and ending on ___________, 2022 with the option
to renew upon 30-day notice in writing given prior to its termination, upon mutual
consent of both parties.

2. RENTAL AND DUES. - The monthly rental for the use of the Leased Premises shall be
FIFTY THOUSAND PESOS (P 50,000.00) inclusive of association dues.

Upon signing this Contract, the LESSEE shall issue postdated checks and made
payable to the LESSOR to cover the monthly rent until the end of the lease period.

3. SECURITY DEPOSIT - Upon signing this Contract, the LESSEE shall make a two (2)
months deposit in the total amount of ONE HUNDRED THOUSAND PESOS (P
100,000.00) for the full and faithful performance of each and every term, provision,
covenant, and condition of this lease, except that said deposit shall not constitute or
substitute payment of any rent.

The deposit, which is non-interest bearing, shall remain intact during the entire term of
this lease and shall not be applied as payment for any monetary obligations of the
LESSEE under this contract, and shall be refunded to the LESSEE upon completion of
the lease.

The deposit shall answer for any unpaid accounts of the LESSEE at the expiration of
the contract as well as for any damages which the LESSOR or any of their employees,
agents or guests might suffer by reason of the wrongful acts or actuation, negligence,
and or malfeasance of the LESSEE. It shall not be applied to pay for the last months of
occupancy of the premises.
 Any unappropriated amount of such deposit shall be refundable to the LESSEE within
sixty (60) days from the termination of the contract.

In the event that the LESSEE terminates her contract before the term expires, the
deposit shall be deemed forfeited and non-refundable, regardless of the reason for its
pre-termination and whether a thirty-day notice was given or not.

4. ADVANCE – Upon signing this Contract, the LESSEE shall pay two (2) months ad-
vance rental in the total amount of ONE HUNDRED THOUSAND PESOS
(P100,000.00) which is applicable on the last two (2) months of the rent.

5. USE OF THE LEASED PREMISES. - The Leased Premises shall be used exclusively
for the LESSEE and her family. It is being expressly agreed that if, at any time during
the existence of this lease and without the previous written consent of the LESSOR,
the said premises are used for the purposes other than what is stated, the LESSOR
has the option of either terminating the lease or collecting increased rental as deemed
appropriate from the date of diversion of use of the premises or to compel the LESSEE
to stop the unapproved activity.

6. REPAIRS. – The LESSEE shall be responsible for the maintenance of Leased

Premises. All expenses for ordinary repairs shall be for the account of the LESSEE.

7. IMPROVEMENTS AND ALTERATIONS. - The LESSEE may with the consent of the
LESSOR, at its sole expense, make any construction, improvement and/or alterations
in the Leased Premises. At the termination or expiration of the lease, any
improvements or renovations made on the Leased Premises shall not be removed
from the Leased Premises.

8. UTILITY BILLS. - All bills for electricity, water, telephone, and other utilities shall be for
the account of the LESSEE.

9. REAL PROPERTY TAXES, FEES AND ASSESSMENTS. – The real property taxes
as well as related charges and assessments that may be imposed on the Leased
Premises, inclusive of increases thereon, shall be for the sole account of the LESSOR.

10. SUBLEASE AND ASSIGNMENT. - The LESSEE shall not directly or indirectly assign,
sublease, sell, transfer, convey, mortgage, demolish or in any manner dispose of or
encumber its right under the contract in whole or in part or any interest thereto be
conferred to any third party or even to any of its affiliated entity or person..

11. RETURN OF PREMISES. - Upon the expiration or termination of this Contract for any
reason whatsoever, the LESSEE shall immediately vacate the premises and return
possession thereof to the LESSOR.

12. NON-WAIVER OF RIGHTS AND REMEDIES. - Failure on the part of one party to
insist upon a strict performance or compliance of any of the terms, conditions and
covenants of this Contract of Lease shall not be deemed a waiver of any rights or
remedies that said party may have, nor shall it be construed as a waiver of any
subsequent breach or default of the terms, conditions and covenants herein stipulated.

13. ACCEPTANCE OF LEASED PREMISES . - The LESSEE specifically warrant that it

has inspected the Leased Premises and found the same in acceptable and tenantable
condition.

14. ASSIGNMENT OF THE LEASED PREMISES. – The LESSOR reserves the right to
assign her interest in this lease contract or transfer ownership of the Leased Premises
to any other corporation or individuals subject to subsequent notice thereof to
LESSEE.
 15. RIGHT TO INSPECT LEASED PREMISES- The LESSOR or its authorized agent
shall, by previous notice to the LESSEE, have the right to enter the leased premises at
any reasonable hour of the day to examine the leased premises.

16. CARE OF THE LEASED PREMISES- The LESSEE shall examine the Leased
Premises before taking possession thereof, and LESSEE’s entry into possession shall
constitute conclusive evidence or admission by the LESSEE that as of the date
thereof, the said Premises were in good order and satisfactory tenantable condition.
The LESSEE hereby binds itself to keep and maintain the same in such condition as a
prudent person shall do under the circumstances, ordinary wear and tear expected.
The LESSEE shall at its own expense, improve and maintain the Leased Premises
clean and free from rubbish and dirt at all times, store all trash and garbage in proper
containers and not burn any trash and garbage in or about the Leased Premises or
anywhere within the Premises.

17. INTRODUCTION OF PERMANENT IMPROVEMENTS - No permanent or fixed

improvements shall be introduced by the LESSEE on the leased premises unless with
prior written consent and approval of the LESSOR. Any such permanent structures, if
approved and allowed, shall be upon the option of the LESSOR registered under the
co-ownership of both LESSEE and LESSOR. Furthermore, the LESSEE shall bear the
full cost of the annual real estate taxes of such structures until expiry of lease contract
and full cost of transfer of ownership to LESSOR upon termination of contract;

18. LESSOR’S RESERVATION. - Disturbance or discontinuance of the Leased Premises

by the LESSEE caused by circumstances beyond the control of the LESSOR shall
confer no right of any kind to the LESSEE as against the LESSOR.

19. BINDING CLAUSE. This Contract shall be binding upon the parties herein and their
respective heirs, successors, executors, administrators and assigns.
20. BREACH OF CONTRACT. - A violation of any of the conditions and stipulations herein
provided shall be a sufficient cause for the extrajudicial termination and cancellation of
this lease, and in such event the LESSOR is hereby allowed and granted by the
LESSEE the right to take immediate physical possession of the Leased Premises, by
locking the same without any court actions to that effect which the latter hereby waives
absolutely.
In the event the LESSOR is forced to resort to judicial suit to protect his rights and
interests arising from this Contract by reason of LESSEE's violation of any terms,
conditions and stipulations herein provided, the latter further obligates himself to pay
the former, as and for attorney's fee, a separate sum of no less than ONE THOUSAND
PESOS (P 100,000.00), aside from the costs of the litigation and other expenses
which the law may entitle the LESSOR to recover from the LESSEE.

IN WITNESS WHEREOF, the parties have hereunto set their hands on date and place
above-written

VERONICA TONGIO-IGOT _______________________

Lessor Lessee

SIGNED IN THE PRESENCE OF:

______________ ______________
 ACKNOWLEDGMENT

REPUBLIC OF THE PHILIPPINES)

__________________________ ) s.s.

BEOFRE ME, a Notary Public, for and in the above-named locality, this
________________________

Name Government Issued ID Date/Place Issued

VERONICA TONGIO-IGOT _________________ ________________

______________________ _________________ _________________

all known to me and to me known to be the same persons who executed the foregoing
instrument, which refers to a Contract of Lease signed by the parties and who acknowledged
to me that the same is their free and voluntary act and deed.

WITNESS MY HAND AND NOTARIAL SEAL on the date and place above stated.

Doc. No. ____; Notary Public

Page No. ____;
Book No. ____;
Series of 2021.