CONTRACT OF LEASE

KNOW ALL MEN BY THESE PRESENTS:

This CONTRACT OF LEASE is made and executed at the City of Taguig, this day of 25th
February, 2023, by and between:
 
MARK ANTHONY JINON, of legal age, Filipino, and with residence and
postal address at 37 BRGY. CANAREM, VICTORIA, TARLAC, hereinafter
referred to as the LESSOR.
 
-AND-
 
KAITH JIMENEZ, of legal age, Filipino and with residence and postal
address at 43 STO. ROSARIO VALLEY, BAGUIO CITY, 2600, contact
number/s 09778430705 hereinafter referred to as the LESSEE.

PAOLO JIMENEZ, of legal age, Filipino and with residence and postal
address at 43 STO. ROSARIO VALLEY, BAGUIO CITY, 2600, contact
number/s 09776237941 hereinafter referred to as the LESSEE.

ALLIAH CASISON, of legal age, Filipino and with residence and postal
address at 43 STO. ROSARIO VALLEY, BAGUIO CITY, 2600, contact
number/s 09458238997 hereinafter referred to as the LESSEE.

WITNESSETH; That
 
WHEREAS, the LESSOR is the owner of the Unit 1608, 16th Floor, Celesta Bldg.,
Cypress Towers Condominium, a residential property situated at C5 Corner Diego
Silang St., Taguig City;
 
WHEREAS, the LESSOR agrees to lease-out the property 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: 
 
TERMS AND CONDITIONS
 
1. PURPOSES:   That premises hereby leased shall be used exclusively by the
LESSEE for residential purposes only and shall not be diverted to other uses. It
is hereby expressly agreed that if at any time the premises are used for other
purposes, the LESSOR shall have the right to rescind this contract without
prejudice to its other rights under the law.
 
2. TERM:  This term of lease is for ONE (1) YEAR from March 10, 2023 to March
10, 2024 inclusive. Upon its expiration, this lease may be renewed under such
terms and conditions as my be mutually agreed upon by both parties, written
notice of intention to renew the lease shall be served to the LESSOR not later
than two (2) months prior to the expiry date of the period herein agreed upon.
 
3. RENTAL RATE:   The monthly rental rate for the leased premises shall be in
PESOS: TWENTY THOUSAND PESOS (Php 20,000.00), Philippine Currency. All
rental payments shall be payable to the LESSOR.
4. MANNER OF PAYMENT: The LESSEE shall pay to the LESSOR in the
following manner:

Prior to the signing of this Contract of Lease, the LESSEE shall pay to
the LESSOR the amount of PESOS: TWENTY THOUSAND PESOS ONLY
(Php 20,000.00) representing the one (1) month Security Deposit.

The LESSEE shall pay to the LESSOR the amount PESOS: FOURTY
THOUSAND PESOS ONLY (Php 40,000.00) representing one (2) two
months advance rental.

Future Rentals to be paid amounting to twenty thousand pesos

(Php 20,000.00) as Post Dated Checks
IN THE NAME OF Mark Anthony Jinon by the 10th day of each month
without any deduction whatsoever, unless specific written permission is
given by the Landlord, to make deductions for reimbursement for repairs
and/or renovation/alterations, carried out by the Tenant, or unless a
necessary and essential repair has not been made good within forty-eight
(48) hours of the report of the Tenant to the Landlord.

If the rents hereby reserved or any part thereof respectively shall be

unpaid for fourteen (14) days after becoming payable (whether formally
demanded or not) or if any covenant on the Tenant’s part herein
contained shall be lawful for the Landlord at any time thereafter to re-
enter upon the said Premises or any part thereof in the name of the
whole and thereupon this letting shall absolutely determine but without
prejudice to the right of action of the Landlord in respect of any breach of
the Tenant’s covenants therein contained. The Landlord shall exercise
such right of re-entry and be at liberty to remove the belongings of the
Tenant and place them outside the Premises without being liable for any
damage or loss.
 
5. DEPOSIT:   That the LESSEE shall deposit to the LESSOR upon signing of
this contract and prior to move-in an amount equivalent to the rent for THREE
(3) MONTHS or the sum of  PESOS: SIXTY THOUSAND PESOS (Php
60,000.00), Philippine Currency.  Wherein the two (2) months deposit shall be
applied as rent for the 11th and 12th months and the remaining one (1) month
security deposit shall answer partially for damages and any other obligations,
for utilities such as Water, Electricity, Association Dues or resulting from
violation(s) of any of the provision of this contract.
 
6. DEFAULT PAYMENT:  In case of default by the LESSEE in the payment of
the rent, such as when the checks are dishonored, the LESSOR at its option
may terminate this contract and eject the LESSEE. The LESSOR has the right to
padlock the premises when the LESSEE is in default of payment for one (1)
month and may forfeit whatever rental deposit or advances have been given by
the LESSEE.

7. RENEWAL OF LEASE: The LESSEE is given the option to renew the lease for
another year, provided that the LESSEE shall advise the LESSOR in writing no
later than thirty (60) days prior to the expiration of this lease; provided further
that this option is not available if the LESSEE has decided to utilize the unit for
his personal and family residence and this decision has been advised in writing
to the LESSEE ninety (90) days prior to the expiration of this lease.

8. WATER, ELECTRIC CURRENT, ETC: All expenses for water, internet,

electricity, and other utilities are for the account of the LESSEE as tenant
during the term of the lease.

9. RULES AND REGULATIONS: The LESSEE binds himself/herself to comply

with the existing rules and regulations promulgated by the building
administrator and/or association and any other environmental or other laws,
ordinances, rules and regulations applicable to the leased premises.
 10. IMPROVEMENT: The LESSEE shall not make any changes; bore holes in
the walls, alterations of or improvements in the Leased Premises without the
written consent of the LESSOR. However, any alterations or improvements made
of introduced to the Leased Premises by the LESSEE, with the consent of the
LESSOR are without obligation of the latter to pay or refund its value or cost to
the LESSEE.

11. SANITATIONS AND REPAIRS: The LESSEE shall keep the Leased Premises
clean and in sanitary condition.

To keep the said Premises, the fixtures, appliances and equipment

thereto belonging in good tenantable condition. It is agreed that any
loss in the value of fixtures, fittings furnishings appliances, equipment
and/or walls due to damage, breakage, cigarette burns, writing on the
walls or similar causes shall be for the account of the Tenant who agrees
to reimburse the Landlord for the repair or replacement of any of these
items so damaged, broken, burnt, written upon or otherwise harmed;

The LESSOR shall be responsible for all major repairs on the premises
caused by ordinary wear and tear, except due to fault or negligence of the
LESSEE, members of his household, servants, guests or visitors. Minor
repairs in the house including electrical and plumbing fixtures, which
will cost less than PESOS: TEN THOUSAND ONLY (Php 10,000.00),
Philippine Currency, per item, shall be considered minor repairs and
shall be done and paid by the LESSEE.
 
12. SUB-LEASE:   The LESSEE shall not directly or indirectly sublet, allow or
permit the leased premises to be occupied in whole or in part by any person,
form or corporation, neither shall the LESSEE assign its rights 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.
 
13. PUBLIC UTILITIES:   The LESSEE shall pay for its electric, water, internet,
and other public services and utilities during the duration of the lease.
 
14. FORCE MAJEURE:   If whole or any part of the leased premises shall be
destroyed or damaged by fire, flood, lightning, typhoon, earthquake, storm, riot
or any other unforeseen disabling cause of acts of God, 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 by
the LESSOR or by the LESSEE by notice in writing to the other.
 
15. TAXES AND INSURANCE: Real Estate taxes and government assessments
shall be for the LESSOR’s account. Either party to the Contract may at its
respective insurance on the Leased Premises, the proceeds of which shall be
payable to the party obtaining such insurance policy.

16. FIRE HAZARD AND OBNOXIOUS SUBSTANCES: The LESSEE shall not
keep/ deposit or store in the premises any obnoxious substance or inflammable
materials or substances that might constitute a fire hazard.

17. THIRD PARTY LIABILITY: The LESSEE, during its occupancy of the Leased
Premises, shall hold the LESSOR free and without fault for any damages,
liability or responsibility to any person or property arising out of or as
consequence of the use of the Leased Premises. When fortuitous events or acts
of God such as typhoon, earthquakes, flood, etc. cause such damage or liability,
the LESSEE shall not be liable to the LESSOR.

18. RETURN OF PREMISES: Upon termination of this contract for any reason
whatsoever, the LESSEE shall immediately vacate the premises and return
possession thereof to the LESSOR upon the latter’s request.
 On the termination of this Tenancy and to the satisfaction of the
Landlord, the Tenant shall:

a) Have any item listed on the inventory which has been

damaged, repaired to the satisfactory repair or replaced if
required, if any;

b) Repair or replace any walls, windows and/or woodwork, which

might have been damaged due to installation of items by the
Tenant other than in a space provided for this on the Premises.

19. TERMITE AND PEST CONTROL: The LESSOR at his own expense shall
retain the services of the reputable pest control company to ensure the
extermination of or protection against termites and beetles (anay/bukbok). The
LESSEE shall be responsible for the extermination of or protection against rats,
cockroaches, ants and other insects.

20. LESSOR'S RIGHT OF ENTRY:   The LESSOR or its authorized agent shall
after giving due notice 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.
 
21. 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 in as good and
tenable condition as the same is now, ordinary wear and tear expected devoid of
all occupants, movable furniture, articles and effects of any kind. Non-
compliance with the terms of this clause by the LESSEE will give the LESSOR
the right, at the latter's option, to refuse to accept the delivery of the premises
and compel the LESSEE to pay rent therefrom at the same rate plus Twenty Five
(25) % thereof as penalty until the LESSEE shall have complied with the terms
hereof.  The same penalty shall be imposed in case the LESSEE fails to leave the
premises after the expiration of this Contract of Lease or termination for any
reason whatsoever.
  
22. This CONTRACT OF LEASE shall be valid and binding between the parties,
their successors-in-interest and assigns.
 
IN WITNESS WHEREOF, the parties have hereunto set their hands, this 25 February 2023 at
Taguig City, Philippines
 

Mark Anthony Jinon Kaith Jimenez

LESSOR LESSEE

                                        

Paolo Jimenez
LESSEE

Alliah Casison
LESSEE

Signed in the presence of:

_____________________________                  ______________________________

Gomer Cid Merro Jhon Kenneth Manimtim
Co-owner Representative