CONTRACT OF LEASE

KNOW ALL MEN BY THESE PRESENTS:

This CONTRACT OF LEASE made and entered into this ___ day of
__________ 2019 by and between:

RAZEL JANE P. TUPAS, of legal age, married, Filipino and a resident of

Brgy. Central, Ajuy, Iloilo, Philippines, hereinafter referred to as LESSOR,

- and -

ROGER D. DADIVAS, JR. of legal age, Filipino and a resident of 43

Jereos St. Lapaz Iloilo City, Philippines, hereinafter referred to as LESSEE;

WITNESSETH:

WHEREAS, LESSOR is the lawful owner of a parcel of land known Lot 1

Blk 6 Mc Arthur Dr. Villa Rica Subdivision. Cubay, Jaro, Iloilo City;

WHEREAS, the LESSEE desires to lease from the LESSOR the above-
mentioned property, and the LESSOR is willing to lease the same unto the LESSEE
subject to the terms and conditions hereinafter specified;

NOW THEREFORE, for and in consideration of the terms and conditions

mutually agreed upon by the parties, the LESSOR hereby lease unto the LESSEE
the above-mentioned property subject to the following terms and conditions, to
wit:

1. SUBJECT OF LEASE – The LESSOR lets and leases unto the

LESSEE a parcel of land known Lot 1 Blk 6 Mc Arthur Dr. Villa Rica
Subdivision. Cubay, Jaro, Iloilo City;

2. TERM OF LEASE – The lease shall be for a period of THREE (3)

years commencing from December 1, 2019 and to expire on
the midnight of November 30, 2022. It may be renewed upon
the consent of both parties;

3. TURN-OVER PERIOD – The LESSOR hereby agrees to deliver the

leased premises and all common areas in a clean, safe and sanitary
condition and in complete compliance with all acceptable laws.
LESSOR undertakes that upon turn-over, all taxes in arrears, dues
and bills charged upon the leased premises or the facilities and
utilities used therein prior to the assumption of LESSEE are fully
paid;

4. RENTAL – The LESSEE agrees to pay the LESSOR every 1st day of
each calendar month the amount of TWENTY THOUSAND
PESOS (P 20,000.00) as monthly rental to be paid on the 1st
day of each month. A Ten Percent (10%) increase will be added
to the monthly rental every year;

5. DEPOSIT AND ADVANCE RENTAL – The LESSEE shall pay the

LESSOR the sum equivalent to ONE (1) month as deposit in the
amount of TWENTY THOUSAND PESOS (P 20,000.00) upon the
execution of this contract, which shall answer for the necessary

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 repairs on the leased premises due to damages caused by the
LESSEE. The said amount shall be refunded to the LESSEE upon
expiration of this Contract if no damage is caused by the LESSEE to
the leased premises.

The LESSEE shall likewise pay the LESSOR the sum equivalent to
ONE (1) month as advance rental in the amount of TWENTY
THOUSAND PESOS (P 20,000.00) upon the execution of this
contract, which shall answer for the unpaid monthly rental. The said
amount shall be refunded to the LESSEE upon expiration of this
Contract if the LESSEE has no unpaid rentals.

In the event that the LESSEE wishes to move out in less than a month
or moves out before the end of this Contract, the LESSEES forfeits
his deposit and the monthly rent mentioned herein;

7. CARE AND SANITATION – The LESSEE shall maintain the leased

premises in clean and sanitary condition at all times;

8. INSPECTION OF THE LEASED PREMISES – The LESSOR or her

authorized representative may by previous arrangement with the
LESSEE enter the leased premises to examine and make such repairs
as necessary at reasonable time of the day for the protection thereof;

9. IMPROVEMENT – The LESSEE is allowed to make such

improvement on the leased premises as may be necessary for the use
of the leased premises. However, no fixed improvements shall be
done or introduced on the leased premises without the prior written
consent of the LESSOR. If the said fixed improvements were done
with the prior written consent of the LESSOR, the LESSEE may
remove the same after the expiration of this Contract, provided that
the removal of the same will not cause any damage to the leased
premises;

10. EXPENSES, TAXES AND UTILITIES – The electricity and water

meters are provided by the LESSOR for the LESSEE for bathing,
cooking, washing and others and all electric, water, telephone bills
and other charges and services during the effectivity of this Contract
shall be for the exclusive account of the LESSEE;

11. NOTICE TO VACATE – LESSEE agrees to give the LESSOR at least

THIRTY (30) days written notice of Lessees’ intention to vacate at
the expiration of the term of this Contract of Lease, otherwise the
continued occupation of the LESSOR of the leased premises shall
deeded to be holding over and the lease shall be considered to be on
a monthly basis;

12. WARRANTIES – The LESSEE shall comply with any and all laws,
ordinance, regulations or orders, including the National Building
Code promulgated by proper government authorities arising from or
regarding the use, occupation, fire, safety, environment, peace and
order and sanitation of the leased premises, and non-compliance
therewith shall be at the exclusive risk and expense of the LESSEE;

13. NON - LIABILITY: The LESSOR shall neither be liable for the
deliberate or negligent acts of the LESSEE. All personal property
placed in the leased premises, storage room or in any other portion
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 of the said building, or any place in the above-mentioned property,
shall be sole risk of the LESSEE or the parties owning the same. The
LESSOR shall in no event be liable for the loss, destruction, theft or
damage to such property from any cause whatsoever, except as
provided by the law. It is agreed that the LESSOR shall not provide
any insurance of any type to any personal property of the LESSEE;

14. DEFAULT OF LESSEE – If any rent remains unpaid when due or if

the LESSEE violates any provision of this lease contract, then the
LESSOR may cancel or terminate the lease by giving notice to the
LESSEE, enter the leased premises and forfeit the deposit;

15. SUCCESSORS AND ASSIGNS – The covenants and stipulations of

this lease shall bind not only the parties hereto but also their heirs,
assigns and successors-in-interest;

16. ENTIRE AGREEMENT – The foregoing constitutes the entire

agreement between the parties and the terms and conditions
contained in this contract shall not be considered as changed, altered,
modified or in any manner amended by acts of tolerance on the part
of the LESSOR unless otherwise such changes or modification are
executed and signed by the parties in a public instrument;

17. That the parties hereby warrant that they have read and understood
all the foregoing provisions of this contract and shall faithfully abide
by the same.

IN WITNESS WHEREOF, we have hereunto set our hands this ____ day
of ________ 2019 at Iloilo City, Philippines.

RAZEL JANE P. TUPAS ROGER D. DADIVAS, JR.

Lessor Lessee
_________ Id No. ________ _________ Id No. ________
Issued on _______________ Issued on _______________
At ____________________ At ____________________

Signed in the presence of:

__________________________ & ________________________

REPUBLIC OF THE PHILIPPINES)

CITY OF ILOILO ) Sc.
x------------------------x

The parties, whose names and personal circumstances are stated above
appeared in person before me this ____ day of ______ 2019 in the City of Iloilo,
Philippines, presented the foregoing Contract of Lease, signed the same in my
presence, and affirmed or swore under oath to the truth and correctness of the
contents or allegations of the same.

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 The parties are personally identified by me through the competent
evidences of their identity bearing their photographs and signatures and described
below their respective names and they signed my notarial register.

Doc. No. _____;

Page No. _____;
Book No. _____;
Series of 2019.