CONTRACT OF LEASE

KNOW ALL MEN BY THESE PRESENTS:

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

_____________________________________, of legal age, Filipino Citizen, with postal address

at
_____________________________________________________________________________________
___________________ hereinafter referred to as the LESSEE;

AND

VICTORIA U LIM, of legal age, Filipino, with residential address at Block 29 Lot1 Crossbill St.,
Avida Residences Dasmarinas, Brgy. Salawag, Dasmarinas City, Cavite, hereinafter referred to as the
LESSOR;

WITNESSETH THAT:

WHEREAS, the LESSOR is the authorized possessor of a residential property located at UNIT __
of Building 1, located at 198 Banlat Road cor. M. Aquino St., Brgy. Tandang Sora, Quezon City. This
property is unfurnished, hereinafter referred to as the LEASED PREMISES.

WHEREAS, the LESSEE desires to lease the abovementioned premises and the LESSOR is willing
to lease the same unto the LESSEE subject to the terms and conditions herein specified;

NOW, AND THEREFORE, for and in consideration of the foregoing and the mutual covenants
herein contained, the LESSOR has let and by these presents does hereby let and lease unto the LESSEE
the aforesaid residential unit and the LESSEE hereby accepts the same by way of lease subject to the
following terms and conditions:

1. SUBJECT OF LEASE

The subject of this Contract of Lease is Residential Unit, unfurnished, consisting of a

total area of 22.73 square meters located at 198 Banlat Rd. cor M. Aquino St.
without parking hereinafter referred to as the “LEASED PREMISES”

2. TERM OF THE LEASE

The lease shall be for a period of twelve (12) months, commencing on

__________________________________up to
_________________________________. This lease may be extended or renewed upon
mutual agreement of the parties and provided further that the LESSOR receives the
LESSEE’S written notice of its desire to extended or renew the lease at least thirty (30)
days before the end of the lease period.

3. RENT
 The parties agreed that the monthly rental of the LEASED PREMISES shall be PHILIPPINE
PESO: SEVEN THOUSAND PESOS (PHP 7,000.00) EXCLUSIVE OF UTILITIES.

Upon contract signing, the LESSEE shall pay the LESSOR ONE (1) months advance – for
the lease period of ____________________ to ___________________ (First
month of contract), equivalent to PHILIPPINE PESOS: SEVEN THOUSAND PESOS
ONLY (PHP 7,000.00);

4. SECURITY DEPOSIT

Upon signing of this Contract of Lease, the LESSEE agrees to pay the LESSOR the sum of
PHILIPPINE PESOS: FOURTEEN THOUSAND PESOS (PHP 14,000.00) Philippine
Currency only, representing TWO (2) months fixed non-interest-bearing security
deposit which shall be held by the LESSOR during the entire term of the lease. Said
deposit shall be returned to the LESSEE in full within sixty (60) days after the
termination of this contract without need of demand. In case of renewal of contract,
previous deposits shall be retained.

Any damages to the PREMISES attributable to causes other than ordinary wear and tear
and acts of God, shall be the responsibility of the LESSEE. Amount of said
damages shall be determined and agreed upon by both parties after walk through of
the leased premises is conducted. The Exit Walk through document indicating the
amount of damages shall be agreed and signed by the LESSOR and LESSEE.

The LESSEE understands that the security deposit amount stated in this contract is not a
guaranteed maximum. Upon termination of the lease, if the actual unsettled
utility bills and damages caused in the unit, exceeds the security deposit amount,
the LESSEE remit to the LESSOR the same amount, within 2 weeks of notification.
Final inspection of the LEASED PREMISES will be conducted prior to moving-out. If
there are any damages noted during the final inspection and the scope of restoration
requires more than two (2) weeks to complete, the LESSOR has the right to
deduct the corresponding prorated rent, against the Security Deposit, which shall
not exceed a maximum amount of one (1) month for the restoration period of the said
damages.

5. PAYMENT METHOD

a. Payment shall be in CASH or via Bank Transfer

SCHEDULE OF PAYMENTS

DUE
PARTICULARS DATE AMOUNT MODE OF PAYMENT

One-month advance upon sign 7,000.00 CASH

 Two-month deposit upon sign 14,000.00 CASH
1   advance payment applied

2     7,000.00 CASH

3     7,000.00 CASH

4     7,000.00 CASH

5     7,000.00 CASH

6     7,000.00 CASH

7     7,000.00 CASH

8     7,000.00 CASH

9     7,000.00 CASH
1
0     7,000.00 CASH
1
1     7,000.00 CASH
1
2     7,000.00 CASH

6. UTILITIES

All charges and expenses for water, electric current, telephone, cable & Internet fees
and other public utilities now installed or hereinafter to be installed shall be for
the account of the LESSEE.

7. USE OF PREMISES

The LEASED PREMISES shall be used for residential purposes only for the LESSEE;
servants and permitted invitees shall not be converted to any other purpose
without the prior written consent of the LESSOR.

8. ASSIGNMENT AND SUBLEASE

The LESSEE may not directly or indirectly assign, sublease, transfer, convey, mortgage or
in any way encumber its right of possession and lease over the LEASED PREMISES
without the prior written consent of the LESSOR.

9. IMPROVEMENTS
 The LESSEE shall not paint; make alterations or additions to, or improvements upon the
LEASED PREMISES, including electrical and plumbing installations thereon,
without first obtaining the written consent of the LESSOR.

Upon the expiration of the lease, all fixed and permanent improvements introduced or
built on the LEASED PREMISES by the LESSEE with the consent of the LESSOR
can and may be removed by the LESSEE without defacing or causing damage to
the LEASED PREMISES. In case of the LESSEE’s failure to remove the
improvements at the expiration or termination of the lease, or in case it is not
possible to remove the improvements without defacing or causing damage to
the LEASED PREMISES, it shall be the LESSOR’s right to appropriate the improvements
without any obligation on the latter’s part to pay for its value or cost to the LESSEE.
The LESSOR shall, furthermore, have the option whether or not to charge the LESSEE
with the cost of removing the improvements and restoring the LEASED PREMISES to
its original condition.

10. MOVABLE IMPROVEMENTS

The LESSEE may install movable furnishings, appliances and decorative items within the
LEASED PREMISES, which shall remain the property of the LESSEE. The LESSEE
shall take care that the removal of the items shall not cause any damage to the
LEASED PREMISES. In case of the LESSEE’s failure to remove the improvements at the
expiration or termination of the lease, or in case it is not possible to remove
the improvements without defacing or causing damage to the LEASED PREMISES, it
shall be the LESSOR’s right to appropriate the improvements without any obligation
on the latter’s part to pay for its value or cost to the LESSEE. The LESSOR shall,
furthermore, have the option whether or not to charge the LESSEE with the cost of
removing the improvements and restoring the LEASED PREMISES to its original
condition.

11. SANITATION AND REPAIRS

The LESSEE has inspected the LEASED PREMISES and found the same to be in good and
tenantable condition.

The LESSEE shall strictly maintain the LEASED PREMISES in clean and in sanitary
condition and keep them at all times in good condition, fair wear and tear
accepted. The LESSEE shall keep the LEASED PREMISES free from undue accumulation of
waste materials and remove any facility, equipment, machinery, improvements and
any other materials which in the opinion of the LESSOR constitute nuisance, fire
and health hazards, and danger to the public.

The LESSOR shall be responsible for all major repairs on the water, electrical and sewage
installations caused by ordinary wear and tear. Repairs due to the fault or negligence of
the LESSEE, members of his household, guests and visitors shall be for account
of the LESSEE.
 The LESSOR undertakes to do all the necessary repairs for breakdowns in the Leased
Premises, which may occur within the first thirty (30) days of the lease. Provided
that, the breakdowns not due to the fault or negligence of the LESSEE, and is
reported to the LESSOR by the LESSEE in writing, within the said period.

Minor repairs shall be for the account of the LESSEE. For purposes of clarifying these
provisions, major repairs are those costing Five Thousand Pesos (PHP 5,000.00)
or more each, while minor repairs are those costing less than Five Thousand
Pesos (PHP 5,000.00) each.

Use of improper cleaning methods and chemicals that do not conform to the care
instruction given and causes damage to the unit shall be charged against the
Security Deposit. Repairs which are not approved by the LESSOR and does not
conform to the standard of the unit as delivered is still considered damaged to the unit
and rectification of which may be deducted from the Security Deposit. All repairs and
rectification required should be properly coordinated to the LESSOR.

12. PEST CONTROL

The LESSEE shall retain the services of a reputable pest control organization to ensure
the extermination or protection against termites and beetles (“anay” or
“bukbok”) and shall be responsible for the extermination of or protection against rats,
cockroaches and other insects.

13. TAXES AND INSURANCE

Real estate taxes and government assessments and fire insurance charges shall be for
the LESSOR’s account. For its own protection, the LESSEE may opt to provide
insurance at his own expense for his own furniture and fixtures, equipment and
other properties found and installed in the LEASED PREMISES.

14. THIRD PARTY LIABILITY

The LESSEE during his occupancy of the LEASED PREMISES shall hold the LESSOR free
and harmless from any damage or liability or responsibility to any person or
property arising out of, or as a consequence of, the use of the LEASED PREMISES
by the LESSEE, his agents and guests provided however that the LESSOR shall keep the
LESSEE free and harmless from any damage, liability or responsibility to any
person or property arising out of, or as a consequence of the acts of the LESSOR,
his agents or contractors.

15. RULES AND REGULATIONS

The LESSEE agrees to abide by the existing rules and regulations promulgated by the
LESSOR and any other laws, ordinances, rules and regulations promulgated by
competent authorities affecting the occupancy of the LEASED
PREMISES.

16. SALE, TRANSFER AND MORTGAGE

 In the event of sale, transfer, mortgage or encumbrance of the same, the LESSOR shall
warrant that the purchaser, mortgagee or encumbrance shall respect all terms
and conditions of this Contract of Lease.

17. RIGHT TO ENTER LEASED PREMISES

The LESSOR reserves the right to enter and inspect the premises at reasonable time of
the day and after the LESSEE has been previously notified at least 48 hours
before the date and time of inspection.

18. PRE-TERMINATION /EMPLOYMENT CLAUSE

In the event that the LESSEE decides to pre-terminate this Lease Contract, the LESSEE
shall give a written notice to the LESSOR thirty (30) days before the termination
date. The Security Deposit and Advanced Payment shall be forfeited in favor of the
LESSOR as part of the liquidated damages due to non-completion of this Lease
Contract. The unused rent and Post-Dated Checks shall be returned to the LESSEE
without need of demand upon move-out of the subject property.

The LESSEE, upon expiration or termination of the lease, shall promptly surrender the
LEASED PREMISES to the LESSOR, in the same tenantable condition in which the
LESSEE received it (fair wear and tear accepted), devoid of all occupants, furniture,
articles and effects.

Thirty (30) days prior to the return of the LEASED PREMISES, the LESSOR may show the
LEASED PREMISES to prospective tenants through his representatives at
reasonable hours and with notice to the LESSEE.

19. BREACH

Any violation of the terms of this contract on the part of the LESSOR or LESSEE shall be
sufficient ground for the termination of this Contract of Lease by the aggrieved
party. In case of suit, the courts of Quezon City shall have exclusive jurisdiction
over the case.

20. WAIVER CLAUSE

Failure of either party to insist in one or more instances upon strict performance of any
of the covenants of this lease or exercise any portion therein contained, shall
not be construed as abandonment or cancellation or waiver of such covenant or
option. No waiver by either party shall be deemed to have been made unless
expressed in writing and signed by the party or parties concerned.

21. RENT ABATEMENT DUE TO DESTRUCTION

In case the LEASED PREMISES or any part thereof shall at any time during the term of
the lease hereby created be destroyed or damaged by fire, lightning, lighting,
riot, tempest, flood, civil commotion, act of God, explosion and which event and any
other causes not caused by the negligence or default of the LESSEE or the permitted
occupier, or his agents, servants or invitees lawfully present on the LEASED
PREMISES so as to be rendered unfit for occupation and/or use then in every such
case, the rent hereby reserved or a just and fair proportion thereof according to the
nature and extent of the damage sustained shall be suspended and cease to be
payable in respect of the period while the LEASED PREMISES continue to be
unfit for occupation and/or use by reason of such destruction or damage. To the extent that
the LESSEE has prepaid the rent on the LEASED PREMISES to LESSOR, the LESSOR shall
refund such portion of rent to be abated to the LESSEE.

In case the LEASED PREMISES are destroyed or damaged as stated in the preceding
paragraph of this Section 20 such that it is rendered uninhabitable or unfit for
occupation, the LESSOR or the LESSEE shall be at liberty by notice in
writing to the other party to determine the lease hereby created and upon such notice being
given, the lease hereby granted shall absolutely cease and determine and the LESSEE or
occupiers lawfully present on the LEASED PREMISES shall not have any claim,
demand or right of action against the LESSOR, but without prejudice to any right of
action of the LESSOR against the LESSEE in respect of any breach of this lease.

22. PET

The LESSOR does not allow any pets inside the unit

23. GOVERNING LAW

This lease shall be governed by the laws of the Republic of Philippines and the parties
hereby submit to the courts of the district of Quezon, in the event of any
difference, or dispute arising in respect of the provisions of this lease.

IN WITNESS WHEREOF, the parties have hereunto signed the Contract of Lease on
________________________________ at _________________________, Philippines.

_______________________________________________________

_________________________

VICTORIA U LIM

LESSOR

______________________

__________________

LESSEE