CONTRACT OF LEASE

KNOW ALL MEN BY THESE PRESENTS:

This Contract of Lease made and entered into by and between:

, of legal age, single/married and a resident of

, hereinafter referred to as the LESSOR;

- AND -

, of legal age, single/married, and a resident of

with Tel No. referred to as the LESSEE;

WITNESSETH THAT:

WHEREAS, THE LESSOR is the owner of commercial building located at

, Iriga City;

WHEREAS, THE LESSEE is the desirous of leasing of the

aforementioned Commercial Building;

WHEREAS, THE LESSOR agrees to lease the same to the LESSEE;

NOW THEREFORE, in consideration of the foregoing premises, the parties have hereto
agreed as follows;

1. TERM. The LEASE shall be for duration of commencing on

and expiring on .

2. RENTAL. The LEASE agrees to pay the LESSOR the rental rate of
____________________________ Philippine Currency per month. The rental will be
directly deposited to the bank account of the LESSOR ___________________________.

A 5% penalty per month shall be imposed on overdue monthly rentals.

3. DEPOSIT. The LESSEE shall pay the LESSOR the sum of ________________________,
Philippine Currency, equivalent to two (2) months and one (1) month advance rental, as
Security Deposit, which deposit shall bear no interest, to guarantee faithful compliance
with all terms and conditions hereof, and which cannot be applied by the LESSEE for
unpaid Electric and Water bills but shall answer for restoration cost of any damage inflicted
on the premises except those caused by natural calamities and/or unforeseen events beyond
the control of the LESSEE.

4. PURPOSE. The leased premises shall be used by LESSEE EXCLUSIVELY AS

_____________________________, and the said LESSEE is hereby strictly prohibited
from using the leased premises for any other purposes or business without the prior consent
of the LESSOR. LESSEE is enjoined to keep noise to a minimum in consideration of the
other residents.

5. ASSIGNMENT OF RIGHTS / SUBLEASE / JOINT AGREEMENT / JOINT

VENTURES. The LESSEE shall not directly or indirectly assign, sell, transfer, convey
mortgage, or in any manner dispose or encumber his/her rights under the Contract nor
sublease nor sublet all, any part of the leased premises and no right of title of interest thereto
or thereon shall be conferred on, or vested on anyone by the LESSEE.
6. IMPROVEMENTS. The LESSEE shall not make any alteration, (driving nails into the
walls is strictly prohibited if pictures or frames are to be hang, double sided tapes can be
used) structural changes or improvements, in the leased premises without the prior written
consent of the LESSOR. However, at the termination of the lease, the LESSEE shall restore
the leased premises in its original state existing at the commencement of the agreement.
Restoration of the LEASE PREMISES shall be for the exclusive account of the LESSEE.
Any permanent improvement introduced by the LESSEE shall form part of the leased
premises and shall be retained in favor of the LESSOR and cannot remove at the
termination of this contract.

7. REPAIRS. All damages caused to the leased premises due to the fault, misuse,
carelessness, and/or negligence or on account of the use thereof by the LESSEE and other
occupants therein shall be made good and repaired by the LESSEE. Should LESSEE fail
to do so after demand, LESSOR or his authorized representative shall repair such damage
at the expense of the LESSEE.

8. SECURITY. The LESSEE shall be solely responsible for the security and safety of the
leased premises, its contents and the person and properties of its employees, customers,
clients and/or guests shall hold the LESSOR, its Officers, Administrator, and Building
Superintendent free and harmless from any claim, whether civil or criminal, arising there
from.

9. ELECTRICITY, WATER, TELEPHONE, UTILITIES. Electric, telephone, water,

internet bills and such other expenses shall be to the account of the LESSEE.

10. INSPECTION OF PREMISES. To ensure that the leased premises is being maintained
in good and tenantable condition. The LESSOR or his authorized representative is hereby
given the right after due notice, to enter and inspect any part of the leased premises during
reasonable hours and as the occasion thereof might require.

11. INJURY OR DAMAGE. The LESSEE hereby assumes the full responsibility for any
damages which may be caused to the person or property of any third person in the leased
premises during the duration of the lease. LESSEE further binds himself to hold the
LESSOR free and harmless from damages as a result thereof, unless such damage or
liability arose out of structural or other inherent defects in the leased premises or is due to
the fault of the LESSOR, his agent or representative.

12. HAZARDOUS AND PROHIBITED MATERIALS. The LESSEE shall not keep or
store in the leased premise any hazardous and obnoxious substance or other chemicals and
materials or prohibited drugs in violation of the laws in the Philippines.

13. VIOLATIONS. The LESSOR, may at his/her option, consider this agreement
automatically rescinded and cancelled without need of any court action, upon five (5)
notice given to the LESSEE based on any of the following grounds;

13.a. For any violation made by the LESSEE or its agents and representatives of any of the
terms and conditions stipulated in this contract.

13.b. In case of the leased premises shall be vacated or abandoned for a period of seven (7)
days without prior written notice to the LESSOR, the LESSOR is consequently permitted
and authorized by the LESSEE to enter the premises and transfer and/or remove all the
goods and merchandise, furniture and fixture therein, either by force or otherwise, without
being liable to prosecution therefore.

14. RETURN OF LEASED PREMISES. Upon the expiration of the terms of the Contract
and if the same is not renewed at that time, the LESSEE binds and obligates himself to
vacate and surrender possession of the leased premises to the LESSOR, and to accomplish
 this purpose, the LESSEE is given three (3) days from the date of expiration within which
to remove all belongings pertaining to the LESSEE, such as table, furnished, fixtures, etc.
however, if after expiration of the three (3) days extension period, the LESSEE for one
reason or another, failed and/or refuse to vacate/surrender the leased premises, the
LESSOR is authorized to reposes and take possession of the leased premises without
necessity of court action.

The LESSOR is free to padlock the leased premises and/or block all entrance and exit of
the leased premises. Properties of the LESSEE which remain in the leased premises after
the lapse of the aforesaid three (3) extension days shall be deemed to be properties of the
LESSOR.

LESSEE binds himself to free the LESSOR from any liability for taking actions under
these provisions.

15. CONTRACT RENEWAL. If after the expiration of this Contract, the LESSEE has
remaining obligation with the LESSOR representing unpaid rentals, and such other
monetary obligations, the LESSOR is authorized to withhold any belongings of the
LESSEE the value commensurate to the unpaid rentals or obligations.

Renewal of the contract upon expiration thereof shall be on mutual agreement of the
parties. It is understood however, that in the renewal of the contract, the LESSOR is
authorized to review rental rates.

16. THIS CONTRACT SHALL BE CONCLUSIVE EVIDENCE between the parties of

the power and authority of the LESSOR to enter the seize the leased premises and to retain,
hold and keep all properties found therein as security for the arrears and after one (1) month
from the date the properties withheld, to dispose them as in contract pledge, the proceeds
to be applied to the accounts payable to the LESSOR.

17. WAIVER. The herein LESSEE hereby waives his/her rights to pre-emption in buying the
leased premises which may be granted to him by any provision of law.

The parties herein bind and obligate themselves to faithfully comply with all terms and
conditions stipulated herein.

18. PRETERMINATION. In the event LESSEE decides to pre-terminate the existing

contract, the LESSEE shall notify the LESSOR within thirty (30) days prior to the
effectivity of the pre-termination.

IN WITNESS WHEREOF, the parties have hereunto signed this document in Iriga City,
Philipines, this ____ day of _________________ 20___.

LESSOR: LESSEE:

Signed in the presence of:

 A C K N O W L E D G E M E N T

REPUBLIC OF THE PHILIPPINES)

_____________________________ ) S.S.

BEFORE ME, a Notary Public for and in ___________________ personally appeared the
following:

Name Identification Document Date & Place Issued

known to me to be the same persons who executed the foregoing Lease consisting of four (4) pages
including the page whereon this Acknowledgment is written, and who acknowledged to me that
the same is the free and voluntary act and deed of the corporations represented herein.

IN WITNESS WHEREOF, I have hereunto set my hand and seal in ___________,

Philippines, this ____ day of _______________, 2018.

Doc. No. ;
Page No. ;
Book No. ;
Series of 2018