CONTRACT OF LEASE

KNOW ALL MEN BY THESE PRESENTS:

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

SPOUSES _________________ and ____________________, both of legal age, with residence

address in _______________________________________________, REPRESENTED herein by their
Attorney-In-Fact, _____________________, of legal age, Filipino, and with residence and postal address
at __________________________________________________________ whose authority is evidenced by
the attached Special Power of Attorney hereinafter referred to as the "LESSORS";

- and –

_____________________, of legal age, married, Filipino and with residence and postal address at
________________________________________________, hereinafter referred to as the " LESSEE".

WITNESSETH That:

WHEREAS, the LESSORS are the owners of a certain parcel of land situated in the Municipality (City) of
_____________, Province of ____________ and covered by Transfer Certificate of Title No.
__________________ issued by the Registry of Deeds of _________________, more particularly described
as follows:

TITLE NO. T________________ :

(TYPE/COPY ALL THE DESCRIPTION OF THE LAND WRITTEN IN THE TITLE IN THIS SPACE)

WHEREAS, the Lessor desires to lease the afore-described properties in favor of the LESSEE and the LESSEE
accepts the lease subject to the terms and conditions herein set forth.

NOW, THEREFORE, for and in consideration of the terms and conditions mutually agreed upon by the
parties, the LESSOR hereby lease unto the LESSEE, his heirs, successors and assigns, the above-described
parcel of land subject to the following terms and conditions, to wit:

(NOTE: all terms, amount and interest below will depend in the agreement between the two parties)

1. That the term of this lease shall be for a period of FIFTEEN (15) years to commence upon the
signing of this Contract and shall be renewable for another FIFTEEN (15) years at the option of
the LESSEE, and thereafter renewable upon mutual agreement of the parties;
 2. That the monthly rentals on the leased premises above-mentioned shall be THIRTY THOUSAND
PESOS only (P30,000.00), Philippine Currency for the first FIVE (5) years of this agreement,
which shall be increased by 10% every FIVE (5) years thereafter. The rentals shall be paid by
the LESSEE to the LESSOR on a monthly basis payable on or before the 30th day of the every
month;

3. That upon the signing of this Contract, the LESSEE agrees to pay advanced rentals for FIVE (5)
months;

4. That the LESSOR shall pay the real property taxes levied of the leased premises corresponding
to the aforementioned parcel of land while the LESSEE shall pay the real property taxes levied
on the building and other improvements that shall be introduced by the latter;

5. It is expressly agreed by the parties herein that any fixed improvements or renovations that will
be introduced in the subject stall shall become the property of the LESSOR after the expiration
of the term of this Contract.

IN WITNESS WHEREOF, the parties have hereunto affixed their signatures this ____day of
____________________ at ____________, Philippines.

LESSEE LESSOR

SIGNED IN THE PRESENCE OF:

__________________ __________________
 ACKNOWLEDGEMENT

Republic of the Philippines )

___________ City ) S.S

BEFORE ME, personally appeared:

Competent Evidence
Name of Identity Date/Place Issued

____________________ ___________________ ________________________

____________________ ___________________ ________________________
____________________ ___________________ ________________________

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

This instrument consisting of 3 page/s, including the page on which this acknowledgement is
written, has been signed on each and every page thereof by the concerned parties and their witnesses,
and and sealed with my notarial seal.

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

Notary Public

Doc. No.______;
Page No. ______;
Book No.______;
Series of 20___.