CONTRACT OF LEASE

KNOW ALL MEN BY THESE PRESENTS:

This CONTRACT OF LEASE, made and entered into, by and between:

XXX, of legal age, Filipino citizen, single and with postal address at XXX , herein after referred to as
the “LESSOR”.

-and-

XXX, both of legal age, Filipino citizen,with postal address at XXX, hereinafter referred as the
“LESSEE”;

WITNESSETH:

WHEREAS, the LESSOR is the owner of the Unit located at XXX, herein referred to as the
“LEASED PREMISES’.

WHEREAS, the LESSEE desires to lease the above-mentioned premises 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 foregoing premises and the mutual conditions
hereunder stipulated, the parties hereby agree and bind themselves as follows:

1. INSPECTION; NO WARRANTY- the LESSOR leases the leased properties to the

LESSEE on an “as is, where is” basis. The LESSEE hereby declares that it has inspected
the leased properties prior to the execution of this lease agreement, and acknowledges that
it is fully satisfied with the conditions thereof. The LESSOR makes no warranty as to the
condition, operational or structural capability, or as to any hidden defects of the property
which the LESSEE warrants to know by virtue of the LESSEE’S duty to inspect.

2. TERM – the lease shall be for a fixed period of ONE (1) year from XXX to XXX
renewable thereafter upon mutual consent of both parties. This lease may be renewed by
written agreement of the parties under such terms and conditions as may be acceptable to
them, provided that the LESSEE shall notify the LESSOR in writing of its decision to
renew the lease at thirty (30) days before the expiration of the lease period.

3. RENTAL – The parties herein agree that the monthly rental of the leased premises shall
be XXX, Philippine Currency, INCLUSIVE of monthly association dues.

4. INTEREST PAYMENT: In the event the LESSEE fails to pay its monthly rent within the
1st to 3rd of the month, the LESSOR shall charge interest on the monthly rent at the rate
of two and half percent (2.5%) per month, which shall be compounded monthly until full
payment is made.
5. PRE-TERMINATION OF CONTRACT: The LESSOR warrants a lease of one (1)
year. In addition, the LESSEE shall settle all unpaid utility bills before moving-out of the
unit pre-requisite for the issuance of the clearance from the LESSOR.

a.) LESSEE agrees to pay monthly rentals until contract ends on – XXX

b.) ADVANCE RENTAL PAYMENT – Within five (5) days from the signing of this
Lease Agreement, the LESSEE shall remit to the LESSOR an amount equivalent to
one (1) month rent or the total sum of SEVENTEEN THOUSAND (P17,000.00),
Philippine Currency, to be applied as advanced rentals for the period XXX to XXX.
Succeeding monthly rentals shall be paid in advance thereafter to be covered by
postdated checks dated XXX.

b.) SECURITY DEPOSIT - Within five (5) days upon the signing of this Lease
Agreement, the LESSEE shall remit to the LESSOR an amount equivalent to two (2)
month's rent or THIRTY FOUR THOUSAND (P34,000.00), Philippine Currency, to
serve as security deposit for any unpaid utility bills such as electricity, water,
telephone, sanitation, sewerage and others, and to answer for any damages which the
Leased Properties may suffer as well as to cover any unpaid monthly rent; interests or
penalties. This amount is refundable to the LESSEE free of any interest thirty (30)
days after the termination of this Lease Agreement subject to deduction for whatever
utility bills and monthly rentals, interests, penalties that have remained unpaid and
damages that may have been incurred, provided, that the LESSEE shall still be liable
for any and all bills, rentals, interests, penalties and damages that may exceed this
security deposit. The LESSEE shall not be allowed to offset or use its security deposit
as its monthly rental payment.

6. WATER, ELECTRICITY, TELEPHONE & ETC. – All expenses for water, electricity,
current telephone, gas, home cable fees and other services shall be for the account of the
LESSEE.

7. RESIDENTIAL PURPOSES – It is agreed that the premises shall be used exclusively

for residential purposes only and for no other purposes without the written consent of the
LESSOR. The subject premises may not be sub-leased in whole or in part at all times.

8. IMPROVEMENTS – The LESSEE shall not make any major structure changes,
alterations or improvements in the leased premises without the written consent of the
LESSOR. However, any major alterations or improvements made or introduced by the
LESSEE, shall, upon termination of this contract, automatically inure to the benefit of the
said premises and become property of the LESSOR without any obligation on the latter’s
part to pay refund its value or cost of the LESSEE.

9. SANITATION AND REPAIRS – The LESSEE shall keep the leased premises in
sanitary and good condition and take good care of the leased premises and keep it at all
times in very good condition. The LESSEE warrants that it has inspected the LEASED
PREMISES and found the same to be in good tenantable condition. The LESSOR shall
be responsible for all major repairs on the LEASED PREMISES and on the water,
electrical and sewage installation caused by ordinary wear and tear except, repairs due to
the fault or negligence of the LESSEE, members of its household, guests, or visitors.
 Minor repairs up to FIVE THOUSAND PESOS (P5,000.00) shall be for the account of
the LESSEE.

10. FIRE HAZARD AND OBNOXIOUS SUBSTANCE - The LESSEE shall not keep,
deposit or store in the leased premises any obnoxious or inflammable material or
substance that might constitute a fire hazard, except kitchen gas.

11. PEST CONTROL - the LESSOR shall retain the services of a pest control organization
to ensure the extermination or protection against termites and beetles, the LESSEE shall
be responsible for the extermination or protection against rats, cockroaches and insects in
the unit.

12. TAXES AND INSURANCE – Real Estate Taxes, Government Assessments and Fire
Insurance shall be for the LESSOR’s account.

13. THIRD PARTY LIABILIY – The LESSEE during its occupancy of the leased
premises shall hold the LESSOR free from damages 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, it agents, employees, domestic help and guest; when such damage or
liability is caused by fortuitous events or acts of God, such as typhoons, earthquake,
flood, etc., which are beyond the control of the LESSEE, the latter shall not be liable to
the LESSOR.

14. INSPECTION OF PREMISES – The LESSOR shall maintain the premises in a good
and tenantable condition and for such purpose, the LESSOR reserves the right at
reasonable times and with notice to the premises, to make the necessary repairs thereof.
The LESSEE likewise agrees to cooperate with the LESSOR in keeping the said premises
in good tenantable condition.

Should the leased premises, subject matter of this contract be damaged by fire except
through the negligence of the LESSEE, flood, lightning, earthquake rendering the
premises to be uninhabitable, this contract shall be automatically rescinded without the
parties becoming liable to each other for any damages.

15. RULES AND REGULATIONS – The LESSEE agrees to abide by the existing rules and
regulations promulgated by Corinthian Executive Regency Inc.

16. RETURN OF PREMISES – Upon termination of this contract for any reason
whatsoever, the LESSEE shall immediately vacate the premises and return possession
thereof to the LESSOR, upon the latter’s request, unless this contract of lease is
extended. The LESSEE should inform the LESSOR 30 days before termination of
contract if the LESSEE wish to renew the contract.

17. VIOLATION OF TERMS: Any violation of terms provided for in this Contract on the
part of the LESSOR or the LESSEE shall be sufficient grounds for the termination of this
Contract of Lease by the aggrieved party. In case of failure for payment, the owner shall
have the right to eject the tenant without going through legal process.

18. In case any of the aforesaid monthly rental payment is dishonored on maturity date
thereof, the LESSEE shall be given a deadline within forty-eight (48) hours to settle.
Failure on the side of the LESSEE, LESSOR will consider and declare the lease
 automatically terminated and rescinded. The two (2) months security deposit shall be
forfeited in favor of the LESSOR.

19. ENTIRE AGREEMENT: This lease contract embodies the entire agreement of the
parties hereto. There are no terms, conditions, or obligations other than those contained
herein, and this lease contract shall supersede all previous communications,
representations or agreements either verbal or written between the parties hereto.
IN WITNESS WHEREOF, the parties hereto have signed this Contract on the __________at
_________________.

XXX XXX

LESSOR LESSEE

ACKNOWLEDGEMENT

REPUBLIC OF THE PHILIPPINES)

CITY OF

BEFORE ME, personally appeared:

Name Government ID Number Date/Place Issued

XXX

XXX

Known to be the same person who signed the foregoing Contract and they acknowledged to me that
the same is their own free act and deed. This document consists of four (4) pages including this page
on which this acknowledgement signed by the parties is written and their instrumental witnesses at the
left hand margin each and every page hereof and refers to a Contract of Lease of Corinthian Executive
Regency Inc at the lower portion of page (4) and at the left-handed margin of all the other pages.

IN WITNES WHEREOF, I have hereunto set my hand and affixed my seal this __________ day of
________________ in ________________.

NOTARY PUBLIC

Doc. No. __________

Page No. __________

Book No, _________

Series of 2017