CONTRACT OF LEASE

KNOW ALL MEN BY THESE PRESENTS:

This Contract of Lease made and entered into this ____________________

at______________________, by and between:

MONICA CHEN ,legal of age,___ Citizen with the address at

_________________city, NCR (hereinafter referred to as the
“LESSOR”)

and

_ TEH POH SHUANG of legal age, with address at

Tambo, Paranaque, hereinafter referred to as the LESSEE.

WITNESSETH

WHEREAS, LESSOR is the owner of a residential condominium building known as

Coastal Luxury Residences Tower 1 located at Lot 6 block 2 Coastal Road, Paranaque
City.

WHEREAS, LESSEE desires to lease Unit 705 ( 51.75 sqm, 1BR) located in Coastal
Luxury Residences under the terms and conditions hereinafter set forth.

NOW THEREFORE, for and in consideration of the foregoing premises and the terms
and conditions hereinafter set forth, the LESSOR hereby leases unto the LESSEE, and
the LESSEE hereby accepts from the LESSOR, the above-mentioned premises under
the following terms and conditions:

1. LEASED PREMISES: LESSOR hereby leases and demises unto the

LESSEE, and the latter hereby accepts the said property in good and habitable
condition. The room shall be occupied by maximum of TWO ( 2 ) persons only.

2. TERM: The term of this Contract shall be for a period of 12 months year
commencing on Mar 4, 2024 until Mar 3, 2025 .

LESSEE agrees to surrender and deliver said premises peacefully to the

LESSOR upon termination of the lease term. If LESSEE fails to vacate the leased
premises upon termination of the lease, LESSEE shall be liable to pay monthly
compensation at the rate of double the amount of the monthly rate.

3. RENEWAL OF LEASE: LESSEE shall inform the LESSOR at least three

(3) months before the expiration of the leased term of its intention to renew the lease.
Without the notice of intent to renew within the said period, LESSOR shall be at liberty
to offer the leased premises to other interested parties. Any renewal or extension of
the lease shall be upon agreement of the parties and upon terms and conditions as may
be agreed upon by the parties.

4. RENTAL RATE: The monthly rental shall be _Thirty Three Thousand_

____Pesos (P__33,000__). All rental payments is payable to the LESSOR or its
Authorized Representative on the dates, scheme or schedule specified in Section 5 of
this Contract without any need of demand.

The monthly rent shall be subject to at least 5% annual escalation.

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 5. PAYMENT SCHEDULE FOR SECURITY DEPOSIT / ADVANCE RENTAL
AND SUCCEEDING PAYMENTS: Payment schemes are as follows.

RENT PERIOD PAYMENT TYPE AMOUNT DUE ON

Two (2) months Security Deposit Php 66,000 Upon signing

Mar 4,2024-Jun 3, 2024 Three(3) months Advance Rental Php 99,000 Upon signing
Jun 4, 2024-Sep 3, 2024 Three(3) months Advance Rental Php 99,000 Jun 3, 2024
Sep 4,2024-Dec 3, 2024 Three(3) months Advance Rental Php 99,000 Sep 3, 2024
Dec 4, 2024-Mar 3,2025 Three(3) months Advance Rental Php 99,000 Dec 3, 2024

6. ADVANCE RENT: LESSEE shall pay advance rent equivalent to three (3)
months of rent in the amount of _Ninety Nine Thousand ___ Pesos
Pesos(P_99,000__). The advance rent shall be applied to the first three (3) months of
the rent.

7. SECURITY DEPOSIT: LESSEE shall pay security deposit equivalent to

two (2) months of rent in the amount of __Sixty Six Thousand___Pesos
(P_66,000__). The security deposit shall answer for damages caused to the leased
premises and/or unpaid utilities of the LESSEE. The Security Deposit shall be refunded
without interest, within sixty (60) days after the expiration of the terms of lease, upon the
LESSEE’S satisfaction of all his obligations, representations and warranties to the
LESSOR and after the LESSEE shall have completely and satisfactory vacates and
delivered the Leased Premises to the LESSOR.

8. Payments by check shall be made payable as follows:

Account Name :
Account Number :
Bank:

All payments (cash or check) shall be delivered to:

Coastal Luxury Residences Office

Lot 6 Block 2 Coastal Road, Parañaque City

All payments will be officially received with Acknowledgment Receipt. Payments

to unauthorized persons shall not be acknowledged.

9. DEFAULT IN PAYMENT: In case of default by the LESSEE in the payment

of rent, seven (7) business days after payment becomes due, such as checks are
dishonored; the LESSOR at his 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 one (1) month and may forfeit whatever
rental security deposit or advances have been given by the LESSEE.

10. RULES & REGULATIONS: During the lease period, the LESSEE shall
respectfully and regularly abide by and follow all the Rules and Regulations being
imposed by the Management or Administrator of the Leased Premises property
management. The LESSEE shall also abide by and faithfully comply with the rules,
regulations and policies of the Homeowner’s Association wherein the LESSOR is a
member and whose jurisdiction the Leased Premises belongs.

10.1 In case of complaint/s from neighbor or homeowner’s association, the

Lessee shall act on the complaint within five (5) days from the receipt of the complaint.

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 11. FEE FOR POWER CONSUMPTION, WATER AND OTHER UTILITIES/
ASSOCIATION DUES. Expenses for power, water, and other utilities shall be for the
account of the LESSEE.

12. ASSOCIATON FEES. The association dues in the amount Eighty Pesos
(P80.00) per square meter shall be for the account of the LESSOR during the term of
the lease.

13. NO SUBLEASE OR ASSIGNMENT. LESSEE shall not sublease or assign

the leased premises or any portion thereof to any third party.

14. USE AND CARE OF THE LEASED PREMISES. The leased premises shall
be used exclusively for residential purpose only. LESSEE shall not introduce any
alterations and improvements without the written consent of the LESSSOR.

15. IMPROVEMENTS ON THE LEASED PREMISES. LESSEE shall not make

any improvements or renovations on the leased premises.

16. PRE-TERMINATION. The LESSEE shall have the right to pre-terminate the
Contract at any time one (1) month prior to the pre-termination date by serving a written
notice to the LESSOR, provided that the LESSOR shall forfeit all the security deposits
and/or advances representing as a pre-termination fee which constitutes damages
incurred by the LESSOR due to pre-termination. The LESSEE shall be liable to pay the
monthly compensation at the same rate plus twenty-five percent (25%) thereof as
penalty.

Only upon the receipt of the pre-termination fee by the LESSOR or the
mutual consent of both parties are secured shall this contract deemed as extinguished.
In the event the LESSEE shall abandon the leased premises, this lease
shall be terminated and the LESSEE authorizes the LESSOR to enter the room and
take custody of the property in the room.

17. VENUE OF SUIT: All disputes arising out of this Contract shall be filed
before the proper courts in Paranaque City.

18. AMENDMENTS: No modification or amendment of this Contract shall

be considered as having been made unless executed in writing and duly signed
by the parties hereto.

IN WITNESS WHEREOF, the parties have hereunto set our hands this
_____________at ___________, Philippines.

_________________________ _________________________

MONICA CHEN _ TEH POH SHUANG

Lessor Lessee

Mobile NO.___ 09155139304 ___

Email Address.__ ace773655@gmail.com __

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 ACKNOWLEDGEMENT

REPUBLIC OF THE PHILIPPINES)

) S.S
BEFORE ME , a Notary Public for and in _________________this
__________day of _________________, Philippines, this ____________________,
personally came and appeared:
Name Any valid Government IDs

Known to me and to me known to be the same persons who executed the foregoing
instrument and who have acknowledged to me that the same is their free and voluntary
act and deed.

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

Doc. No.________
Page No.________
Book No.________
Series of 2023.