CONTRACT OF LEASE

KNOW ALL MEN BY THESE PRESENTS:

This agreement made and entered into by and between J & C REALTY CORPORATION
with principal office at Cebu City, hereinafter called the LESSOR; and _______________________
_____________________________ of legal age, single / married to ________________________
_____________________________ hereinafter called the LESSEE;

WITNESSETH:

That the LESSOR is the owner of a certain property located in Cebu City, more particularly
described as follows:

That the LESSOR is willing to lease the above-described property to the LESSEE for the
monthly rental of ______________________________________________ (P …………….) and the
LESSEE is willing to accept said property in lease from the LESSOR: Net of Withholding Tax.

That for and in consideration of the above agreed monthly rental, the LESSOR hereby
leases unto the LESSEE and the LESSEE hereby accepts in lease from the LESSOR, the above-
described property, subject to the following terms and conditions:

1. That the term of this Lease Contract shall be for (……..) year and only, Beginning
______________, 20 ____ up to and including _____________, 20 ____ Unless this Lease Contract
is renewed in writing 30 days before its expiry date, this present Lease Contract shall definitely
expire on its expiry date;

2. That the LESSEE shall pay advance rentals for (………) months upon the signing of this
agreement and ____________________________ as deposit to answer for any delinquency in the
payment of electrical, water, property damage, third liabilities related to the leased premises and
other bills remaining unpaid upon the termination of this agreement. All deposit shall be forfeited
should LESSEE terminate prematurely the term of this Lease Contract; any deposit shall not be
used by the LESSEE to answer any delinquency before expiration of the Lease Contract. All
deposits shall be refunded once all rental, damage, if any, and utility bills are paid;

3. Rental Payment – The LESSEE shall pay the LESSOR a monthly rent at the rate of
(P_________). All payments shall be made within the first five days of each month to the LESSOR’S
duly authorized representatives, namely: Dr. Joy M. Damo and/or Dr. Belinda M. Empaces.

4. That the LESSEE shall pay the cost of electric and water bills, telephone bills and all charges
for the property damages and third party liabilities related to the Leased premises only for the
purpose for which it is intended, and shall take care of the premises as a good father of the family.

5. That the LESSEE shall comply with any and all laws, ordinances, regulations or orders, of
the National Provincial, or City Government authorities arising from or regarding the use or
occupation including the safety and sanitation of the Leased premises. Failure to comply with the
said laws, ordinances, orders or regulations shall be at the exclusive risk and expense of the
LESSEE;

6. The LESSEE authorizes the LESSOR to have any water / electric utility temporarily
disconnected should LESSEE fail to pay any account past due on rentals and utility upon ten (10)
days receipt of written notice from the LESSOR.

7. That in the event of default in the payment of any One (1) monthly rental, the LESSOR has
the rights to terminate the Lease Contract, and the LESSEE shall vacate premises and return the
possession thereof to the LESSOR without any necessity of any further court litigation however,
should it be necessary to place the matter in the hands of any attorney for enforcement of the
LESSOR’S right, the LESSEE shall be liable to pay Two Percent (2%) interest per month on the
account due, plus attorney’s fees and costs of litigation. Venue if any court litigation arising under
this agreement will be the Courts of the City of Cebu;

8. Without prejudice to the other remedies at law available to the LESSOR to enforce collection
of rentals which may be in arrears, all improvements made by the LESSEE, office equipments,
appliances, air conditioning units, furniture/s and fixtures of the LESSEE in the lease premises shall
specifically answer for the complete payment of any delinquent rentals owing by said LESSEE;
9. That the LESSEE shall not in any manner sublease or encumber his / her right over the
leased premises to any other person or persons or entity, and violation of this specific prohibition
shall constitute a ground for the termination of the Lease Contract;
10. That the LESSOR or its duly authorized representative shall have the right to inspect the
Lease premises at any reasonable hour of the day and shall have free access to the premises for
the purposes;

11. All improvements and all repairs whether necessary or ornamental shall be for the sole
account and expense of the LESSEE upon prior consent of the LESSOR and after the expiration of
the Lease Contract, the same shall be become the absolute property of the LESSOR without right of
reimbursement in favor of the LESSEE;

12. That the LESSOR agrees to maintain the LESSEE in peaceful enjoyment of the leased
premises during the period of lease. The LESSEE upon executing this Lease Contract hereby
acknowledges that the leased premises are in good tenantable condition during the existence of the
lease;

13. That the LESSOR shall not engage in any illegal, immoral and / or hazardous business or
activities in the leased premises and that the LESSEE shall apply for or purchase any fire insurance
policy without the written consent of the LESSOR.

14. That the LESSEE shall follow all House and Compound Rules and regulations regarding
cleanliness, pets, unusual disturbances and traffic flow of parking within the compound of the leased
premises. Violating this provision shall give the LESSOR the right to immediately terminate this
Leased Contract.

15. The LESSOR shall have the right to terminate the Lease Contract and exercise such rights
and privileges provided in paragraph (6) and (7) hereof if any provision of the terms and conditions
of Lease Contract are violated by the LESSEE, the LESSOR has the right to terminate this contract
for any cause upon the discretion of the LESSOR.

IN WITNESS WHEREOF, the parties have hereunto set their hands this ____________ day
of ________________, 20___ in Cebu City, Philippines.

____________________ ____________________
LESSOR LESSEE

Signed in the presence of:

____________________ ____________________

Doc No. ______;

Page No. _____;
Book No. _____.