CONTRACT OF LEASE

LET IT BE KNOWN THAT:

This Contract of Lease (referred to as the “Contract”) is made and entered into by and between:

__________________ of legal age, _______ Citizen respectively and with postal address at
_________________________________________ hereinafter referred to as the “LESSOR”;

-and-

__________________, of legal age, _______ Citizen, and with residence and postal address at
_________________________________________ hereinafter referred to as the “LESSEE”;

RECITALS:

The LESSOR is the absolute and registered owner of a Residential Property / Condominium Unit
situated at ____________________ with certain fixtures, furniture, effects, facilities and
appliances found therein (hereinafter referred to as the Leased Premises); ANNEX A
(INVENTORY)

The LESSEE desires to lease the above described Residential Property / Condominium Unit
above mentioned and the LESSOR agrees to lease and let the Leased Premises to the LESSEE
under the terms and conditions of this Contract of Lease (hereinafter referred to as the
“CONTRACT”);

ACCORDINGLY, for and in consideration of the payment and rent and the faithful compliance
with all the terms, provisions, considerations and covenants hereinafter contained, the LESSOR
hereby leases and lets unto the LESSEE, and the LESSEE does hereby accept, the Leased
Premises under this Contract, under the following terms and conditions:

TERMS AND CONDITIONS

SECTION 1: PURPOSES

1.1 The Leased Premises shall be used exclusively by the LESSEE for Residential Purposes only
to house maximum of __ occupants and shall not be diverted to other uses. It is expressly
agreed that if at any time the leased premises are used for other purposes and housed
more than the indicated number of occupants; the LESSOR shall have the right to rescind
this Contract without prejudice to its other rights under the law.

SECTION 2: TERM OF LEASE

2.1 The Term of Lease is for a period of __ MONTHS commencing from ___________ and eding
on __________ inclusive. Upon its expiration, this lease may be renewed under such terms and
conditions as may be mutually agreed upon by both parties written notice of intention to renew
the lease shall be served to the LESSOR not later than 45 days prior to the expiry date of the
period herein agreed upon.

SECTION 3: RENTAL RATE

3.1 The LESSEE shall pay a monthly rental rate for the leased premises in the amount of PESOS:
___________________ ( ₱________ ) Philippine Currency, inclusive of the leased
premises’ monthly association dues. All rental payments are payable to the LESSOR or
its Authorized Representative on the dates, scheme, and/or schedule specified in
Section No. 4 in this Contract without any need of demand. Other charges for electricity,
water, telephone, internet and cable services shall be for the account of the LESSEE.

RESIDENT CARD – PhP 1,000.00 each

SECTION 4: PAYMENT SCHEDULE FOR ADVANCE OR SUCCEDING PAYMENTS

4.1 The advance/succeeding payment(s) shall be made in cash/check/bank transfer

with the Schedule and Scheme as follows:

PAYMENT TYPE AMOUNT DUE ON PERIOD COVERED

TOTAL 980,000.00

SECTION 5: SECURITY DEPOSIT

5.1 The LESSEE shall deposit a non-interest bearing Security Deposit to the LESSOR an amount
equivalent to __ MONTHS rent of the sum of Philippine PESOS: ________________________
₱________ ) Philippine Currency, upon signing of this Contract and the LESSEE’s
move-in.
5.2 The Security Deposit shall be refunded, without interest, within Sixty (60) days after
the expiration of the term of this Lease, upon the LESSEE’s satisfaction of all his
obligations, representations and warranties to the LESSOR and after the LESSEE shall
have completely and satisfactorily vacated and delivered the Leased Premises to the
LESSOR. Items deductible to the Security Deposit includes but not limited to the
following:

a. Unpaid Utility Bills such as Electricity, Water, Telephone, Cable and Internet, etc.;
b. Property / Facility Destruction other than the usual wear and tear; and
c. Discontinuance of Lease as indicated on the period of lease as pre-termination damages
d. Any act which constitutes violations of any of the provisions of this contract.
IMPORTANT NOTES:
* Cost of replacement and repairs of damaged furnitures and appliances during the leased
period will be shouldered by the LESSEE.
* Cost of replacement and repairs of damaged furnitures and appliances by end of the leased
period will be deducted on the security deposit. If security deposit is insufficient, LESSEE to
cover additional cost.
* ALL REPLACEMENT & REPAIR COST/AMOUNT will be provided by LESSOR based on
prevailing price.

In case, the security deposit is not enough to cover unpaid charges, the LESSEE will have to pay
the difference in cash. Otherwise, move-out clearance will not be processed by the LESSOR.
However, as agreed damages will occur in the premises will be shouldered by the LESSEE.

SECTION 6: DEFAULT IN PAYMENT

6.1 In case of default by the LESSEE in the payment of the rent, seven business (7) days after
payment due, such as when the checks are dishonored, the LESSOR at its option may terminate
this contract and eject the LESSEE from the leased premises. The LESSOR has the right to
padlock the premises when the LESSEE is in default for (1) month and may forfeit whatever
rental security deposit or advances have been given by the LESSEE.

SECTION 7: SUB-LEASE

7.1 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.

SECTION 8: RULES & REGULATIONS

8.1 During the lease period, the LESSEE shall respectfully and religiously abide by and follow all
the Rules and Regulations being imposed by the Management or Administrator of the leased
premises’ property management office.

8.2 Smoking is strictly prohibited inside and outside of the leased premises. Any validated
incident of smoking shall automatically constitute a breach of contract with the LESSOR’s option
to automatically terminate the lease subject to forfeiture of advances and deposits.

8.3 NO PET ALLOWED.

SECTION 9: PUBLIC UTILITIES

9.1 The LESSEE shall pay for its telephone, electricity, cable TV, water, internet and other public
services and utilities during the duration of lease. Association dues, Real Property Taxes or
other personal expense in the account of the LESSOR shall be paid by the LESSOR. Furthermore,
the LESSOR only allows new application for public utilities upon written consent or
authorization. Application or installation fees incurred thereof shall be in account and expense
of the applying LESSEE.

SECTION 10: LESSOR’S RIGHT OF ENTRY

10.1 The LESSOR or its Authorized Representatives shall after giving due notice to the LESSEE
shall have the right to enter the leased 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.

SECTION 11: MODIFICATION, ALTERATIONS AND IMPROVEMENTS

11.1 The LESSEE shall not make any structural alterations, addition or improvements on the
LEASED PREMISES without the written consent of the LESSOR. Any major alterations or
improvements made or introduced by the LESSEE shall upon be subjected to terminate or
expiration of this Contract.

11.2 All such fixed and/or immobile modifications, alterations, additions, or improvements shall
become the property of the LESSOR upon the expiration of the Contract.

SECTION 12: MAINTENANCE AND FORCE MAJEUR

12.1 The LESSEE shall, at his expense, maintain the Leased Premises in a clean and sanitary
condition. The LESSEE shall not bring into, or store in, the Leased Premises, materials of a
poisonous, explosive, highly inflammable or hazardous nature. The LESSEE shall not allow illegal
drugs or substances to be formulated, kept or used within the Leased Premises. The LESSEE
shall not use the room for any illegal purpose such as but not restricted to gambling,
cockfighting, an illegal drug den, and other activities deemed illegal by law.

12.2 Repairs and maintenance cost arising from the normal wear-and-tear of usage, including
maintenance of water, electrical and sewage systems shall be for the sole account of the LESSEE
for cost under PhP 5,000.00 and to LESSOR for the amount more than PhP 5,000.00. Repairs
and maintenance arising from structural or hidden defects of the Leased Premises or from acts
of God or Force Majeur shall be for account of the LESSOR.
**NOTE: For the 1st month, In case there is need to repair/fix from the appliances, Lessor will
cover the cost.

12.3 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.

SECTION 13: SALE AND ENCUMBRANCE OF LEASED PREMISES

13.1 The LESSOR, as the owner of the Leased Premises, shall have the right to dispose, transfer,
sell, assign, convey and encumber the leased premises or any interests therein provided that
the LESSOR shall stipulated in the instrument of sale or encumbrance that the buyer of the
Leased Premises shall abide by and honor the terms of this Contract.

13.2 In such case, the payable rent accruing after the sale, transfer, assignment, conveyance
and encumbrance of the Leased Premises shall then be paid to the new owner of the Leased
Premises. Likewise, all the LESSOR’s rights and obligations provided in this Contract shall then
be automatically transferred to the new owner of the Leased Premises.

SECTION 14: PRE-TERMINATION OF CONTRACT

14.1 This Lease Contract may NOT be terminated during the leased period.
In the event, the LESSEE terminates the contract prior to its expiry the remaining Advance and
(2) months deposit shall be forfeited.

14.2 Only upon the receipt of the pre-termination fee by the LESSOR or the mutual consent of
both parties are received shall this contract be deemed as extinguished.

14.3 A penalty of PhP 50,000.00 will be imposed upon pre-termination of the contract if its less
than 6 months

SECTION 15: EXPIRATION OF LEASE

15.1 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 tenable condition as the same is now, ordinary wear-and-tear expected devoid of all
occupants, movable furniture, articles, and effects of any kind.

15.2 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 any delivery of the premises and compel the LESSEE to
pay rent therefrom at the same rate plus twenty-five percent (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.