CONTRACT OF LEASE

KNOW ALL MEN BY THESE PRESENTS:

This Contract of Lease is made and executed by and between:

Caroline Go, of legal age, married, Filipino citizen and with postal address at 34B Embassy
Garden Homes, Diliman, Quezon City, hereinafter referred to as the LESSOR,

and

Rebecca Gamboa , of legal age, single, Filipino citizen and with postal address at 45 Felipe St.
San Francisco Del Monte, Brgy. Damayan, Quezon City, hereinafter referred the to as LESSEE,

WITNESSETH:

WHEREAS, the LESSOR is the owner of a residential condominium described as Unit 815
South Tower, Flair Condominium, Reliance St., cor. Pines St., Brgy. Highway Hills, Mandaluyong City,
hereinafter referred to as the LEASED PREMISES.

WHEREAS, the LESSEE desires to lease the above mentioned premises and the LESSOR is willing
to lease the same unit to the LESSEE subject to the terms and conditions hereinafter specified:

NOW, THEREFORE, for and in consideration of the foregoing and the mutual covenants herein
contained, the LESSOR hereby let and lease unto the LESSEE, the above mentioned LEASED PREMISES and
the LESSEE hereby accepts subject to the following terms and conditions:

1. TERMS: The lease shall be for a period of twelve (12) months to start on September 10, 2022 to
September 9, 2023. The move-out date will be September 9, 2023.

2. RENTAL: For the use and occupancy of the LEASED PREMISES, the LESSEE shall pay the LESSOR a
monthly rental of TWENTY THREE THOUSAND PESOS (P 23,000.00) inclusive of Monthly
Condominium & Estate Dues. Monthly Condominium & Estate Dues shall be for the account of the
LESSOR.

2.1. Upon signing of this Contract, the LESSEE shall pay the LESSOR a total of SIXTY NINE
THOUSAND PESOS (P 69,000.00) for one (1) month advance and two (2) months Security
Deposit.
2.2. The LESSEE will transfer the succeeding eleven (11) monthly rental payment, on or before the
10th of each month, the amount of TWENTY THREE THOUSAND PESOS (P 23,000.00) through
the LESSOR’s designated bank account. The transfer will be from October 10, 2022 to August
10, 2023.

● One (1) month rental advance P 23,000.00

● Two (2) months security deposit P 46,000.00
● Eleven (11) Monthly Bank Transfer P 23,000.00

2.3 A penalty of 3.5% of the monthly rate will be deducted on the LESSEE’s Security deposit for
every day delayed on rental payment. In additional, a REBATE of ONE THOUSAND PESOS (P
1,000.00) will be returned if the LESSEE will pay on or before the 10th of each month. The rebate
will be given on the 4th of the following month.

3. SECURITY DEPOSIT: Upon signing of this Contract, the LESSEE shall pay the LESSOR the amount of
FOURTY SIX THOUSAND PESOS (46,000.00) equivalent to two (2) months rental as Security Deposit.

3.1 The Security Deposit shall answer for non-compliance by the LESSEE with the terms and
conditions of this Contract.
3.2 The Security Deposit shall upon termination of the lease and actual endorsement of the unit
to the LESSOR, be returned by the LESSOR to the LESSEE within thirty (30) days, WITHOUT
INTEREST, less all financial obligations that may be due and owing by the LESSEE.
3.3 The Security Deposit shall not be used to substitute as a rental payment at any point and time
during the life of this Contract.
3.4 The Security Deposit shall be applied by the LESSOR in the following order of priority:
3.4.1 First, against any obligation that may be established to be due and owing from the
LESSOR other than rental or utility charges;
3.4.2 Second, against unpaid bills or utility charges like electricity, water, telephone, cable
TV, etc.
3.4.3 Penalty charges for late rental payment
4. USE OF LEASED PREMISES: Exclusively, the LESSEE shall use the LEASED PREMISES for residential
purposes only. It is hereby agreed that any time during the term of this lease, should the use of the
LEASED PREMISES be diverted for other purposes, without the consent of the LESSOR, the latter shall
have the right to terminate the Contract. The LESSOR also will implement the following for the
duration of this contract:

● No to tenant shifting and subleasing such as Airbnb or the likes

4.1. The LESSEE shall not bring into or store in the LEASED PREMISES highly inflammable materials
for explosives nor install any apparatus, machinery or equipment which may cause obnoxious
odor, excessive tremors or noise or increase the fire hazard of the building and increase the
insurance rate thereof. Only electric equipment can be used for cooking.

5. UTILITIES: All expenses of water, electricity, telephone, cable TV and other utility services in the
LEASED PREMISES during the period of occupancy shall be for the LESSEE’s account.

5.1. The LESSEE, at the request of the LESSOR, shall provide the LESSOR every end of each quarter
starting December 2022, the copies of receipts of payment of the above utility bills.

6. IMPROVEMENTS: Any improvement or alteration which are permanent or temporary in nature, to

be made by the LESSEE, shall have prior written/verbal consent on the part of the LESSOR which
consent shall not be unreasonably be withheld by the LESSOR.

6.1. All such improvements or alterations, which are permanent in nature, shall automatically inure
to the benefit of the LESSOR without any obligation on the part of the LESSOR to pay or refund
its value or cost to the LESSEE.
6.2. Improvements which are not permanent in nature and which are removable without causing
damage or defacing the premises such as appliances, computer and other similar equipment
installed by the LESSEE shall belong to the LESSEE and maybe removed provided that the
LESSEE shall not drive nails, screws, etc. nor bore holes on wood, concrete and metal parts of
the LEASED PREMISES without prior written consent of the LESSOR.

7. MAINTENANCE AND REPAIRS: The LESSEE shall maintain the LEASED PREMISES in clean, sanitary
and tenantable state. It is LESSEE’s option on how to clean the place as long as it is kept clean.

 Airconditioning units should be cleaned at least every 3 months

 Grease trap should be cleaned at least every 2 months
 Unit cleaning should be cleaned regularly to maintain the cleanliness of the unit
 Smoking inside the unit is STRICTLY prohibited

7.1. The LESSEE shall surrender and return the LEASED PREMISES in good condition as they were
actually found at the beginning of the lease, ordinary wear and tear accepted.
7.2. Any repair and damage due to fault or negligence of the LESSEE, his agents, employees or
guests (other than the ordinary wear and tear) shall be for the account of the LESSEE.
7.3. It is further agreed that all minor repairs that need to be undertaken by the LESSEE, shall be
attended to immediately to ensure that they do not escalate to major repairs in order to
preserve LEASED PREMISES.
7.4. Failure of the LESSEE to undertake the necessary minor repairs shall entitle the LESSOR to do
the same subject to reimbursement from the LESSEE.
7.5. The LESSOR or his representative in this case, his Resident Agent, Jose Mari Cruz, reserves the
right to enter and inspect the LEASED PREMISES (bet. 9 am – 5 pm) and with proper notice of
at least 7 days notice to the LESSEE to ensure that sanitation and cleanliness, repairs and
maintenance are being done.

8. INSPECTION OF PREMISES: The LESSEE has inspected the premises and as a result of which, it is
hereby agreed that the LESSEE accepted by way of lease, all improvements, furnishing and fixtures in
the LEASED PREMISES.

9. RULES AND REGULATIONS: The LESSEE shall comply with any and all reasonable rules and safety
regulation, which may be promulgated from time to time by Flair Towers Management.

10. SUB-LEASE, TRANSFER OF RIGHTS: The LESSEE shall not directly or indirectly assign, transfer or
encumber its rights in this Contract nor sublet any part of the LEASED PREMISES.

11. BREACH OR DEFAULT: The LESSEE agrees that all covenants and agreements herein contained shall
be deemed essential conditions and part of the consideration hereof and that if default or breach be
made on any of the covenants or agreements, which include non-payment of any and all accounts
related to this Contract in which could not be remedied within fifteen (15) days from notice thereof,
 the LESSOR shall have the right to TERMINATE or CANCEL this Contract, and thus advances made shall
be forfeited.

12. PRE-TERMINATION: In the event the LESSEE pre-terminates this lease before the expiration thereof,
the two (2) months Security Deposit and any Advances shall be forfeited by way of liquidated
damages. The LESSOR shall in no instance pre-terminate the lease and respect LESSEE’s possession
of the premises for as long as this Contract is not violated. The LESSOR has the right not to renew
the Contract of Lease which will be advised by the LESSOR to the LESSEE on the start of the tenth
(10th) month.

13. ARREARS: Should the LESSEE fails to pay any and all accounts related to this Contract of Lease for a
period of fifteen (15) days the LESSOR shall have the power and authority to terminate this Contract
of Lease and lock out the LESSEE from the LEASED PREMISES and prevent the LESSEE entry within,
except to settle all accounts or obligations in favor of the LESSOR.

13.1. The LESSOR shall also have the right to retain the property found in the LEASED PREMISES as
security for payment of any of the LESSEE’s obligations under this Contract of Lease, which
properties the LESSOR may dispose of and the proceeds to be applied to such obligations and
the excess to be turned over to the LESSEE or whoever is entitled thereto; or place the same
deposit, if necessary, without prejudice to the right of the LESSOR to collect the efficiency, if
any, from the LESSEE.

14. VENUE OF COURT ACTION, COST OF LITIGATION AND ATTORNEY’S FEES: Any legal action or
proceeding under this Contract shall be brought in the proper court of City of Mandaluyong, the
parties hereby waiving any other venues.

IN WITNESS WHEREOF, the parties hereto set their hands this _____________________ day of
____________________, 2022 at _____________________, Philippines.

________________________________ _____________________________
Caroline Go Rebecca Gamboa
LESSOR LESSEE

SIGNED IN THE PRESENCE OF:

_____________________________ ____________________________
Jose Dela Cruz
ACKNOWLEDGEMENT

REPUBLIC OF THE PHILIPPINES

MANDALUYONG CITY ) S.S.

BEFORE ME, a Notary Public for and in ____________________ in this ____________ day of
__________________, 2022 personally appeared:

NAME CTC/ID DATE ISSUED/EXPIRY PLACE ISSUED

Caroline Go DL: N0192184809 October 20, 2027 Quezon City
Rebecca Gamboa 292-620-948-000 April 06, 2025

WITNESS MY HAND AND SEAL on the date and place first above written.

NOTARY PUBLIC

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