Page 1: Lease Contract

CONTRACT OF LEASE

KNOW ALL MEN BY THESE PRESENTS:

This LEASE CONTRACT is made and executed this __________________ in the

Municipality of Bacong, Negros Oriental, by and between:

SALVADOR V. CARO, married, of legal age, Filipino and resident of Soludpan, Bacong,
Negros Oriental hereinafter referred to as the “LESSOR”;

-and-

_______________________, single/married/widow/widower, of legal age, Filipino

and with residence address at _______________________________, hereinafter referred to as
the “LESSEE”.

WITNESSETH; That

WHEREAS, the LESSOR is an owner of the LEASED PREMISES, a parcel of land

otherwise known as Lot No. 672-C, Plan No. PSD-07-105981 situated in Soludpan, Bacong,
Negros Oriental, subsequently known as the LEASED PREMISES;

WHEREAS, the LESSOR agrees to lease-out a __________________________________

square meter area on the western portion along the Metro Dumaguete Diversion Road,
identified and marked as, CL- _____ of the LEASED PREMISES to the LESSEE and the LESSEE is
willing to lease the same;

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,
subject to the following conditions, to wit:

TERMS AND CONDITIONS

1. PURPOSE: That premises hereby leased shall be used exclusively by the LESSEE for
commercial purposes only;

2. TERM: This term of lease is ________________ year/months and shall commence

from _______________, until _________________. Upon its expirations, this lease
may be renewed under such terms and conditions as may be mutually agreed upon by
both parties;

3. RENTAL RATE: The monthly rental rate for the leased premises shall be _________
per sqm or total of ___________________________________ (Php ___________) a
month, Philippine Currency paid every ________ day of the month. All rental payments
shall be payable to the LESSOR;

4. SECURITY DEPOSIT AND ADVANCE: The LESSEE shall deposit to the LESSOR upon
signing of this contract and prior to move-in and amount equivalent to the rent for
TWO (2) MONTHS deposit, as well as an advance of ONE (1) MONTH rental, Philippine
Currency. This deposit shall answer partially for damages and any other obligations,
for utilities such as water, electricity, CATV, Telephone, association dues, fees and
taxes from LGU or resulting from violation(s) of any of the provisions of this contract;

5. DEFAULT PAYMENT: In case of default by the LESSEE in the payment of the rent, such
as when checks are dishonored , the LESSOR as its option may terminate this contract;

6. SUB-LEASE: The LESSEE shall not directly or indirectly assign its right 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 written approval;

7. STRUCTURE: The LESSEE shall develop/put-up an appropriate one (1) level structure
only without cost on the part of the LESSOR. However, permanent concrete structure
for wall of the building is not allowed, however, CHB may be allowed with maximum of
40 centimeters only from the ground level;
Page 2: Lease Contract

8. PUBLIC UTILITIES: The LESSEE shall pay for its telephone, electricity, cable TV, water,
internet, association dues, fees and taxes from LGU for the leased premises, other
public services and utilities during the duration of the leased;

9. FORCE MAJEURE: If whole or any part of the leased premises shall be destroyed or
damaged by fire, flood, lightning, typhoon, earthquake, storm, not or any other
unforeseen disabling cause of acts of nature, 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 of the LESSOR or by the LESSEE by
notice in writing to the other;

10. LESSSOR’S RIGHT OF ENTRY: The LESSOR or its authorized agent shall after giving
due notice in writing 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;

11. 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 is as good and tenable condition as the same
is now, ordinary wear and tear expected devoid of all occupants, movable furniture,
articles, cabinet and shelves, and effects of any kind;

12. This CONTRACT OF LEASE shall be valid and binding between the parties, their
successors-in-interest and assigns;

IN WITNESS WHEREOF, we have hereunto affixed our signatures this ________________ in

the Municipality of Bacong, Negros Oriental, Philippines.

SALVADOR V. CARO _____________________________

PRC ID-Crim Reg Nr. 0000259 _____________________________
LESSOR LESSEE

Signed in the presence of:

________________________ ________________________

ACKNOWLEDGEMENT

REPUBLIC OF THE PHILIPPINES )

PROVINCE OF NEGROS ORIENTAL)
MUNICIPALITY OF BACONG )

BEFORE ME this undersigned Notary Public for and in the above jurisdiction this
________________, at the Municipality of Bacong, Negros Oriental, personally appeared and
presented above ID’s as competent proof of their identities, known to me and to me known to
be the same persons, personally signed the foregoing instrument, acknowledged to me that the
same is their free and voluntary act and deed, and avowed under penalty of law to the whole
truth of the said instrument. This instrument, with the header “LEASE CONTRACT”, consists of
three (3) pages including the page on which this acknowledgement is written, and is signed y
the LESSOR, LESSEE, and their instrumental WITNESSES.

WITNESS MY HAND AND SEAL. NOTARY PUBLIC

Doc. No. __________

Page No. __________
Book No. __________
Series of __________