CONTRACT OF LEASE

KNOW ALL MEN BY THESE PRESENTS:

This Contract of Lease, made and entered into this ______ day of ______, 2021
by and between:

OSCAR SERVANDO, of legal age, Filipino, married and with address at

Brgy.
6, Mamburao, Occidental Mindoro, hereinafter referred to as the LESSOR;

- and -

KATRINA DE LOS SANTOS of legal age, Filipino, married with address at

Barangay _____, Mamburao, Occidental Mindoro hereinafter referred to as
the LESSEE.

WITNESSETH that:

WHEREAS, the LESSOR is the owner of the lot located along the national
highway Barangay 6, Mamburao with land area of ___________________
(_____________) SQUARE METERS

WHEREAS, the LESSEE desire to lease the above mentioned lot and the
LESSOR is willing to lease the same unto the LESSEE subject to the terms and
conditions hereinafter specified:

NOW, THEREFORE, for and in consideration of the foregoing premises and the
mutual covenants herein contained, the LESSOR have let and by these presents
does hereby let and lease unto the LESSEE the aforesaid lot hereinafter referred to
as the ‘LEASED PREMISES’ and the LESSEE hereby accept the same by way of
lease subject to the following terms and conditions:

1. LEASE PERIOD – The lease of said LEASED PREMISES shall be for a period
of TEN (10) YEARS to commence on April 1, 2021 until March 31, 2031, renewable
upon mutual agreement and consent of both parties. The LESSEE shall give a
written notice to the LESSOR of its desire to renew the lease at least sixty (60) days
before termination of the contract on March 31, 2021.

2. RENTAL RATE – In consideration of this Contract, the parties herein agree

that the monthly rental of the LEASE PREMISES shall be THIRTY THOUSAND
PESOS (30,000.00), Philippine Currency, which however, shall be paid on a yearly
basis in the total amount of THREE HUNDRED SIXTY THOUSAND PESOS
(P360,000.00).

3. SECURITY DEPOSIT – Upon execution of this contract, the LESSEE shall pay
to the LESSOR the sum of NINETY THOUSAND PESOS (P90,000.00) Philippine
Currency, to be applied as three (3) months security deposit and shall not earn
interest during the leased period or any extension or renewal thereof. The three (3)
months security deposit shall answer for any charges in case there are unpaid bills
such as water, electricity, telephone, cable TV, internet and other utilities/charges
on or damages to the LEASED PREMISES. The balance, if any, shall be refunded to
the LESSEE upon termination of this Contract of Lease, settlement of accounts
noted herein, not to exceed sixty (60) days after the termination of this contract and
turnover of the leased premises to the LESSOR. Security Deposit shall be forfeited in
case the LESSEE will not be able to complete the Contract period. The LESSEE in
return shall surrender all keys of the leased premises to the LESSOR. Security
Deposit cannot be applied as rental payment.

4. PURPOSE – The LESSEE guarantee and warrant that the LEASED PREMISES
shall be used as GASOLINE STATION with provisions for space rental. The LESSEE
shall not use the LEASED PREMISES for any illegal, illicit nor immoral purpose.
Violation of this shall automatically terminate the Contract of Lease and shall
subject the LESSEE to any penalties which may be imposed by the community or
the government.

5. BREACH, DEFAULT, PRE-TERMINATION OF THE LEASE & FORFEITURE –

The LESSOR guarantees exclusive possessive and enjoyment by the LESSEE of the
leased premises for the entire period of the lease and all extensions thereof, as long
as the LESSEE fulfills all her obligations under this Contract.

Failure or delay on the part of the LESSEE to pay the rental for the given year
shall be considered as a default of the contract, and shall entitle the
LESSORS to eject the LESSEE from the premises without need of judicial
proceedings, in case of default, the LESSEE hereby constitute the LESSOR
and/or the LESSORS’ authorized representative as agents for purposes of
entering the property and clearing it of the personal properties of the LESSEE
for whose account actual costs shall be charged. It is further understood that
in case of default, the LESSORS are hereby granted a lien over such
properties of the LESSEE inside the leased premises. The amount paid in
accordance with paragraph 2b hereof shall be forfeited in favor of the
LESSORS as part of liquidated damages.

6. WATER, ELECTRICITY, TELEPHONE, ASSOCIATION DUES & TAXES – All

expenses for water, electricity, telephone and cable TV, internet, and other utilities
shall be for the account of the LESSEE. Cable and internet installation and
connection shall be for the account of the LESSEE. Monthly charges shall be for the
account of the LESSEE while real estate taxes and any other charges of a public
nature or which are may be assessed on the leased premises shall be for the account
of the LESSOR.

7. IMPROVEMENTS – The LESSEE shall not make any major structural changes
alterations or improvements in the LEASED PREMISES without prior WRITTEN
consent of the LESSOR. However, any major changes, alterations or
improvements made or introduced by the LESSEE in the LEASED PREMISES
with the verbal or written consent of the LESSOR which are permanent in
character, shall upon termination of this contract, automatically inure to the
benefit of the LEASED PREMISES and shall become the property of the
LESSOR without any obligation on the LESSORS’ part to pay or refund its
value or cost to the LESSEE.

8. MAINTENANCE, SANITATION & REPAIRS – The LESSEE shall keep the

LEASED PREMISES in sanitary, clean and good condition at all times, and warrant
that it has inspected the LEASED PREMISES and found the same in tenantable
condition.

9. INSPECTION PRIOR TO OCCUPANCY – LESSEE and LESSOR or their

representatives shall perform a joint inspection of the premises prior to occupancy,
this inspection shall note the condition of all aspects of the premises in order that
the LESSORS and LESSEE shall know how the premises shall be returned.

10. FIRE HAZARD & OBNOXIOUS SUBSTANCE – The LESSEE shall not keep,
deposit, or store in the LEASED PREMISES any obnoxious or inflammable material
or substance that might constitute a fire hazard or nuisance.

11. INJURY, DAMAGES AND OTHER CRIMES – The LESSEE shall be

responsible at all times for all acts done, or damages, injuries or death, of all
persons or pets allowed access to the LEASED PREMISES. The LESSEE assume full
responsibility for any damage which maybe caused due to the LESSEE’S or their
family members’, household helps’, employees’, guests’, pets’ gross negligence, fraud
or error against the person or property of third persons while remaining either
casually or on business in any part of the LEASED PREMISES.

12. SUB-LEASE – The LESSEE may sublease the provisions for space rental or
any part of portion thereof to any person, firm, or corporation subject to the written
consent of the LESSOR, and the latter has the approving authority as to who shall
be accepted as SB-LESSEES.

13. INSPECTION OF LEASED PREMISES – The LESSOR reserves the right at

reasonable times and with advance notice to the LESSEES to enter and inspect the
premises in the presence of the LESSEES or their representative. In case, repairs are
necessary to be instituted in the LEASED PREMISES, the same shall be done with
prior appointment with the LESSEE.

14. THIRD PARTY LIABILITY – The LESSEE, during the occupancy of the leased
premises shall hold the LESSORS free and harmless from any damage or liability
and responsibility to any property arising out of a consequence of the used of the
leased premises by the LESSEES, their agents, employees, domestic helps, guests
and pets.

15. RETURN OF THE LEASED PREMISES – Upon the expiration of the lease
period or any extension or renewal thereof, or upon the termination of this contract
as herein provided, the LESSEE shall immediately and peacefully return to the
LESSORS the possession of the LEASED PREMISES in as good, clean, sanitary and
tenantable condition as when the LESSEE received it from the LESSORS, or and
shall restore the LEASE PREMISES or affected portions thereof to their original
conditions at the beginning of the lease, ordinary wear and tear expected. Cost of the
cleaning and restoration shall be for the LESSEES’ account. Thirty (30) days prior to
the return of the LEASED PREMISES, the LESSORS may show the premises to
prospective tenants at reasonable hours and with advance notice to the LESSEE.

16. BREACH OF CONTRACT; DEFAULT – Should the LESSEE fail to pay the
rental in accordance with the terms of this Lease of Contract from the date upon
which it becomes due, a penalty of two percent (2%) a month shall be applied on top
of the rental rate, or should the LESSEE violate any provisions into this Contract,
the LESSORS may, at their option, either terminate the lease within fifteen (15) days
with prior notice or take any steps, if deemed necessary to collect the rent which is
due and shall be paid by the LESSEE. Any violation of the terms and conditions
provided for in this Contract of Lease on the part of the LESSEE or LESSORS, shall
be sufficient ground for the termination of this contract by the aggrieved party.

IN WITNESS WHEREOF, the parties hereto have hereunto signed on the date at the place
first above written.

______________________________________ ______________________________________
OSCAR SERVANDO KATRINA DE LOS SANTOS
LESSOR LESSEE

SIGNED IN THE PRESENCE OF:

______________________________________ ______________________________________
 ACKNOWLEDGEMENT

BEFORE ME, a Notary Public for and in Mamburao, Occidental Mindoro, this
__________ day of _______________ 2021, personally appeared:

VALID ID PLACE ISSUED EXPIRY DATE

OSCAR SERVANDO

KATRINA DE LOS SANTOS

KNOWN TO ME AND TO ME KNOWN to be the same persons who executed

the foregoing instrument known as Contract of Lease consisting of five (5) pages and
acknowledged to me the same is their own free and voluntary act and deed.

IN WITNESS WHEREOF, I have hereunto set my hand and affixed my notarial

seal on the date and the place above written.

Doc No. ________

Page No. ________
Book No. ________
Series of 2021.