fore remainder ofthe lease piod October 19,2012 = Oet. 19,2013, SECURITY DEPOSIT: There shal be a Security Deposit to be held by the LESSOR during the entire term of the lease in the amount set forth under 2-b of this Contract, to be applied and retained as security deposit to take care of the unpaid bills such as water, electricity and telephone, including damages on the leased premises, on the fixtures and improvements thereon, if there are any, and also to serve as a guarantee forthe faithful compliance of the provisions of this contract. The Security Deposit shall not be applied to damages arising from either ordinary ‘wear and tear or any fortuitous event. Within Sixty (60) days after expiration of the lease, the LESSOR is obligated to make an accounting of deductions, if any, on the deposit and to submit the same with corresponding, official receipts and supporting documents for confirmation by the LESSEE. The deposit shall in no case be applied for payment in case of extension or renewal of the period of the lease. Strictly within the said Sixty (60) days period, the deposit shall be retumed by the LESSOR to the LESSEE, without interest, less amount for damages, if any, on the LEASED PREMISES during the period of lease, except for normal wear and tear, Any utility bills pertaining to the period of occupancy by the Lessee which remain unpaid upon expiration of the said Sixty (60) day period shall be billed separately by the LESSOR to LESSEE together with the supporting billing statement of the utility companies concermed and shall be paid by the latter to the former without interest ‘All keys and receipts for water, LPG gas, cable, telephone, and electricity should be surrendered and be given to the LESSOR at the end of the contract. 3, WATER, ELECTRIC CURRENT, ETC. ~ All utility expenses arising for the use of and ‘ecupancy by the LESSEE of the LEASED PREMISES such as water, electricity, telephone internet, cable charges, and all other utility bills during the period of lease shall be for the account of the LESSEE.any claim or damage arising from LESSOR’S failure in that regard 18. TERMINATION OF CONTRACT - This Contract of Lease shall terminate upon expiration of the LEASE PERIOD or upon written request of the LESSEE. In the event that the LESSEE ‘decides to pre-terminate the contract, the LESSEE should give a written notice o the LESSOR at least sixty (60) days before the termination date of its intention to vacate the LEASED PREMISES and the Two (2) month Security Deposit shall automatically be forfeited by the LESSEE in favor of the LESSOR as by way of liquidated damages for non-completion of the Contract. The leased premises can then be shown to prospective tenants with one (1) day notice land approval from the LESSEE as soon asthe written notice of pre-termination has been served 16, RESTORATION OF PREMISES, Upon termination of this contract, unless it has beenUNIT 4G ~ KENSINGTON PLACE CONDOMINIUMS LEASE AGREEMENT WITH TENANT GEORGE MORELLO ~ PD. OCT. 19, 2012 TO OCT. 19, 2013 RENT AND DEPOSIT PAYMENTS: October 3, 2012 ~ Signing of lease, Php120,000.00 - Two months SECURITY DEPOSIT ~ Signing of lease, Php240,000.00- Check dated October 15, 2012 to cover rent for October 19, 2012/ November 19, 2012/December 19, 012/January 19, 2013 ~ February 19, 2013. ~ Signing of lease, two post-dated checks as follow: 1, Dated February 19, 2013 — Php240,000.00 to cover rent for February 19, 2013/March 19, 2013/April 19, 2013/Nty.19, 2013 — (4 months) se 2. Dated June 19, 2013 ~ Php240,000.00 to cover rent for June 19, 2013/July 19, 2013/August 19, 2013//September 19, 2013 — October 19, 2013 - 4 months.