CONTRACT OF LEASE

KNOW ALL MEN BY THESE PRESENTS:

This ​AGREEMENT made and executed on this ___ day of ___________________, ________
at Makati City, Philippines, by and between:

______________________________________​, of legal age, Filipino, with principal address at

___________________________________________________________________, hereinafter
referred to as the LESSOR.

-and-

______________________________________​, of legal age, Filipino, with principal address at

___________________________________________________________________, hereinafter
referred to as the LESSEE.

WITNESSETH THAT:

WHEREAS, the LESSOR is the owner of a residential ​____________________________

_______________________________________________________________.

WHEREAS, the LESSEE desires of leasing the above described residential unit and the
LESSOR is willing to lease the same in favor of the LESSEE subject to the terms and conditions
agreed upon by both parties and as herein specified;

NOW AND THEREFORE​, for and in consideration of the foregoing and the mutual covenants
herein contained, the LESSOR has let and by these presents does hereby let the lease unto the
LESSEE the aforesaid residential unit and the LESSEE hereby accepts the same by way of lease
subject to the following terms and conditions:

TERM OF LEASE: Unless otherwise terminated earlier as provided for under the terms of this
contract, the lease shall be for a period of ______ ( __ ) year commencing on
________________________ and ending on ________________________. This lease may be
extended or renewed upon mutual agreement of the parties and provided further that the
LESSOR receives LESSEE’S written notice of its desire to extend or renew the lease at least
sixty (60) days before the end of the lease. Should the parties fail to agree in writing on the terms
and conditions for its renewal one (1) month before the expiration of the lease, the same shall be
deemed not extended. The LESSOR shall then have the right to enter and show the subject
premises to prospective tenants during regular business hours, which the LESSEE shall allow
upon prior 24 hours notice to the letter.

RENTALS: The monthly rental on that unit shall be in the amount of PESOS:
___________________________________________________ (P_______________), exclusive
of association dues (the LESSEE will pay the association dues directly to Administration Office
of the ________________________________________________________ every month due as
established by the Bldg. Administration), inclusive of VAT and withholding tax. Upon execution
of this Contract, the LESSEE shall pay the amount of PESOS:
___________________________________________________ (_______________), equivalent
to ________ ( ____ ) month advanced rental applicable for the period of
__________________________________________________________.

DEPOSIT AND POSTDATED CHECKS: Upon signing this Contract, the LESSEE shall
apply the deposit made in the previous contract to the LESSOR the amount of PESOS:
___________________________________________________ (P_______________) ONLY,
equivalent to _______ ( ____ ) months security deposit, plus ________________ ( ____ ) post
dated checks for the _____ months lease of the premises. The deposit shall be held answerable
for any unpaid bills or obligation that the LESSEE may have to the LESSOR or third person at
the expiration of the lease, arising from the use and occupancy of the unit such as unpaid
Association Dues, electrical, telephone, water, or any other utility bills, as well as other expenses
incurred by the LESSOR for the account of the LESSEE, and damages of the Leased Premises.
The balance if any, shall be refunded by the LESSOR to the LESSEE, upon settlement of such
accounts which shall not exceed two (2) months after termination of this contract and return of
the premises, whichever comes earlier. It is also further understood that the deposit shall in no
case be applied as rent.
The LESSEE shall maintain his deposit in full throughout the term of this Contract and the same
shall not be applied for payment of rental for any month. The two months deposit shall be
returned by the
LESSOR to the LESSEE, two months after expiration of this Contract, less the bills, utilities and
damages that are chargeable at the time, provided that the LESSEE, vacated the unit as per
contract. Otherwise, the LESSEE shall forfeit his/her right to the reimbursement of his/her
deposit.

USE: The subject unit shall be used exclusively for residential purposes and shall not be devoted
to any improper, offensive, or unlawful use. The LESSEE agreed to abide by the HOUSE
RULES OF CITYLAND MAKATI EXECUTIVE TOWERS hereto attached and made an
integral part hereof. The LESSEE is not allowed to sublease the Unit subject of this Contract.

RENOVATION: The LESSEE shall not make any alterations on the premises without first
securing the approval of the LESSOR. All permanent improvements introduced by the LESSEE
shall be owned by the LESSOR without need of reimbursement.

SANITATION AND REPAIRS: The LESSEE shall keep the property clean and in sanitary
condition. The LESSOR shall be responsible for all major repairs on the premises and on the
water, electrical and sewage installations caused by ordinary wear and tear, except repairs due to
fault or negligence of the LESSEE, its guests or visitors. Minor repairs and improvements (as
approved by the LESSOR) shall be then for the account of the LESSEE.

INJURY OR DAMAGE: The LESSEE hereby assumed full responsibility for any damage
caused to the person or property or third person while still in any part of the leased unit. The
LESSEE further binds itself to hold the LESSOR free and harmless from any claim for injury or
damage. The LESSOR shall not be responsible for any failure of water supply, telephone
services, electricity, or for any damages occasioned by or arising from plumbing, gas, and other
line bursting, leaking, or destruction of any system, tank, water closet or water pipes in above or
about the leased unit.

DEFAULT: The LESSEE shall be considered if he fails to pay one (1) month rental through no
fault of the LESSOR and shall give the LESSOR THE RIGHT to AUTOMATICALLY
CANCEL, RESCIND, OR TERMINATE this agreement without any need of notice or prior
judicial action. Any accommodation and acceptance of the late payments to the LESSOR shall
not be construed as waiver of any of his rights or modification of nullification of any provision
under this agreement. Should this contract be terminated the reason of default, all unpaid rentals
and surcharges thereto, shall be immediately due and demanded. The LESSEE shall need
clearance from the LESSOR before he can bring anything from the leased premises in case of
default. Clearances shall only issued when all paid rentals and all other fees for the account of
the LESSEE has been paid.

ABANDONMENT OF LEASED PREMISES: In case the leased premises shall be deserted or

vacated before the expiration of this lease, the LESSOR shall have the right to enter the same as
the agent of the LESSEE, either by force or otherwise without being liable to a prosecution, and
to rent the same as agent of the LESSEE and to receive the rent due hereunder, holding the
LESSEE liable for any rights of the action to prosecute the LESSEE under pertinent laws.

PROHIBITIONS:​ The LESSEE shall not bring or store in the leased premises the following:
Contraband of any kind
Illegal/dangerous drugs
Illegal firearms and explosive, etc.
Subversive materials
Inflammable items, goods or articles

It is the essence of this contract that in the event the LESSEE violates for any reason the
foregoing prohibitions, this contract of lease shall automatically be considered pre-terminated
subject to the penalty described under the paragraph below.

OBLIGATION OF PARTIES UPON TERMINATION OF CONTRACT: Upon termination

of this contract at the expiration of this term and/or pre-termination for any legal reason
whatsoever, LESSEE and LESSOR shall immediately comply with their obligations.
1. LESSOR: To return to the LESSEE the remaining deposit after the end of the contract
period deducting the expenses and charges provided for in this contract. In case of
pre-termination, the LESSOR shall forfeit the rental deposit.
 2. LESSEE: To vacate the leased unit and return the physical possession thereof to the
LESSOR in good/satisfactory condition and tenantable for the use and purposes for which
the same is intended.
3. Should any of the parties violate the above-mentioned provisions, he/she shall be held
responsible
4. for all the damages which the innocent shall suffer by reason thereof.

MISCELLANEOUS PROVISIONS​: All payments for the utilities and other telephone
bills, water bills and electrical bills as well as any other charges which shall arise during the term
of this agreement shall be for the account of the LESSEE.

SANITATION AND REPAIRS: The LESSEE has inspected the premises and found the
same to be good and tenantable condition. The LESSEE shall strictly maintain the LEASED
PREMISES in clean and in sanitary condition and keep them at all times in very good condition.
The LESSEE shall keep the leased premises from undue accumulation of waste materials and
remove any facility, equipment, machinery, improvements and any other materials which in the
opinion of the LESSOR constitute nuisance, fire and health hazards and danger to the public.

PEST CONTROL: The LESSEE shall retain the services of a reputable pest control
organization to ensure the extermination or protection against termites and beetles (“anay” or
“bukbok”) and shall be responsible for the extermination of or protection against rats,
cockroaches and other insects.

TAXES AND INSURANCE: Real estate taxes and government assessments and fire insurance
charges shall be for the LESSOR’s account. For its own protection, the LESSEE may insure his
own furniture and fixtures, equipment and other properties found and installed in the leased
premises.

THIRD PARTY LIABILITY: The LESSEE during his occupancy of the Leased Premises shall
hold the LESSOR free and harmless from any damage or liability or responsibility to any person
or property arising out of, or as a consequence of the use of the Leased Premises by the LESSEE,
his agents and guests.

RULES AND REGULATIONS: The LESSEE agrees to abide by the existing rules and
regulations promulgated by the administration office and any other laws, ordinances, rules and
regulations promulgated by competent authorities affecting the occupancy of the Leased
Premises.

SALE, TRANSFER, AND MORTGAGE​: In the event of sale, transfer, mortgage, or

encumbrance of the same, the LESSOR shall warrant that the purchases, mortgagee, or
encumbracer shall respect all terms and conditions of this Contract of Lease.

RIGHT TO ENTER LEASED PREMISES: The LESSOR reserves the right to enter and
inspect the premises at reasonable time of the day and after the LESSEE has been previously
notified.
EXPIRATION/TERMINATION/CANCELLATION: The LESSEE, upon expiration of
termination and/or cancellation of the lease, shall promptly surrender the Leased Premises to the
LESSOR, in the same tenantable condition in which the LESSEE received it, devoid of all
occupants, furniture, articles and effects, subject to the provisions of section on Right to Enter
Leased Premises.
Ninety (90) days prior to the return of the Leased Premises, the LESSOR may show the premises
to prospective tenants through his representatives at reasonable hours and with notice to the
LESSEE.

BREACH: Any violation of the terms of this contract on the part of the LESSOR or LESSEE
shall be sufficient ground for the termination of this Contract of Lease by the aggrieved party.

WAIVER CLAUSE: Failure of either party to insist in one or more instances upon strict
performance of any of the covenants of this lease or exercise any portion therein contained, shall
not be construed as abandonment or cancellation or waiver of such covenant or option. No
waiver by either party shall be deemed to have been made unless expressed in writing and signed
by the party or parties concerned.

IN WITNESS WHEREOF​, we have hereunto affixed our signatures at the space provided and
date written above.

________________________________​ ​________________________________
(LESSOR) (LESSEE)

SIGNED IN THE PRESENCE OF

________________________________​ ​________________________________

ACKNOWLEDGEMENT

Republic of the Philippines )

Makati City ) S.S.

Before me this ____ of _____________, _______ in Makati City personally appeared:

Name CTC No./Passport No. Date/Place Issued

____________________________ _____________________________
________________________
____________________________ _____________________________
________________________

known to me and to me known to be the same persons who executed the foregoing Contract of
Lease and acknowledged to me that the same is their free act and deed.

This instrument consisting of four (4) pages including this page wherein the acknowledgement is
written have been signed by the parties and their instrumental witnesses on every page thereon,
sealed with my notarial seal. It relates to a lease of residential
____________________________________________
____________________________________________________________.

IN WITNESS WHEREOF​, I have hereunto set my hand and affix my notarial seal at the place
and date written above.

Doc. No. _______ NOTARY PUBLIC

Page No. _______
Book No. ______
Series of _______