Republic of the Philippines }

Makati City } s.s.

CONTRACT OF LEASE
KNOW ALL MEN BY THESE PRESENTS:

This CONTRACT OF LEASE is made and entered into this at Makati City,
Philippines, by and between:

, of legal age, married, Filipino citi-

zens, with office address at , hereinafter
referred to as the LESSORS;

- and -

, of legal age, single, Filipino citizen,

with residential address at , hereinafter
referred to as the LESSEES;

WITNESSETH:

WHEREAS, the LESSORS are the owners of a studio condominium unit with a size of
39 square meters, more or less, located at Unit ___ The Manansala Tower, Hidalgo Drive
cor. Estrella St., Rockwell Center, Makati City, and its appurtenant parking slot assigned as
_____, hereinafter referred to as the “Leased Premises”;
 
WHEREAS, the LESSEES desire to lease the Leased Premises, and the LESSORS are
willing to lease the same unto the LESSEES subject to the terms and conditions hereinafter
specified;
 
NOW, THEREFORE, for and in consideration of the foregoing and the mutual
covenants herein contained, the LESSORS have let and by these presents do hereby let and
lease unto the LESSEES the Leased Premises, and the LESSEES hereby accept the same by
way of lease subject to the terms and conditions which follows:
 

1. LEASE PERIOD - The lease shall be for a period of ONE (1) YEAR commencing on June
25, 2022 to June 24, 2023, provided that the LESSEES shall have the option to renew
the lease for another period by giving the LESSORS written notice thereof sixty (60)
days prior to the expiration of the Lease Period. The option to extend shall be gov-
erned by the same terms and conditions hereof, except the rental price, which shall be
subject to the mutual agreement of the parties.

2. RENTAL FEE - LESSEES shall pay a monthly rental of THIRTY-EIGHT THOUSAND PESOS
(Php 38,000.00) inclusive of association dues.

(a) PAYMENT – Upon execution of this Lease Contract, LESSEES shall pay the LESSORS
the amount of THIRTY-EIGHT THOUSAND PESOS ONLY (Php38,000.00) as one
month advance rental payment.

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 (b) SECURITY DEPOSIT - It is understood that the sum of SEVENTY-SIX THOUSAND PE-
SOS (Php 76,000.00) the equivalent of TWO (2) months rental, shall be deemed as
security deposit to be applied as payment for damages/missing items to the
premises, which damages shall exclude those arising from natural wear and tear,
at the termination of this Lease Contract. The same currency and amount paid by
the LESSEES shall be returned to the LESSEES within thirty (30) days (on or before
the 30th day) the Leased Premises have been vacated by the LESSEES and after the
LESSEES has been cleared of all utilities costs (water, electricity, Internet/tele-
phone and other private utilities), or repairs due to the fault or negligence of the
LESSEES and associated with the Leased Premises. The security deposit shall not
be applied to any unpaid bills for water, electricity, Internet/telephone and other
private utilities at the end of the Lease Period.

(c) The reading meter of water and electricity will be executed upon the day of
turnover of the unit. LESSORS shall pay any outstanding bills prior to the LESSEES'
move in.

3. PAYMENT TERMS - The one (1) month advance rental and two (2) months security
deposit amounting to ONE HUNDRED FOURTEEN THOUSAND PESOS (Php 114,000.00)
dated on the same date of the execution of this Lease Contract plus eleven (11) post-
dated checks, each amounting to THIRTY-EIGHT THOUSAND PESOS (Php 38,000.00)
(for the payment of the latter Eleven Months of the Lease Contract) shall be paid and
given to the LESSORS upon the execution of this Lease Contract. These eleven (11)
post-dated checks shall be dated every 20th of the month, starting July 2022 and end-
ing in May 2022. All checks shall be issued to the name of .

4. UTILITIES - The LESSEES shall pay at their exclusive expense the consumption for elec-
tricity, water, cable TV, telephone, Internet bills, and other private utilities used in the
premises. The LESSEES are prohibited from engaging in illegal connections of water
and electric supply within the Leased Premises. The LESSEES are also obliged to termi-
nate the private utilities they have procured at their expense, upon the termination of
this Lease Contract.

Water and electricity dues are to be paid by the LESSEES directly to The Manansala
Tower Administration Office, located at level B1. Other utilities procured by the
LESSEES are to be paid them directly to the third-party providers.

5. ASSOCIATION DUES – Monthly association dues shall be inclusive of the rental rate
and shall be for the account of the LESSORS.

6. OBSERVANCE OF LAWS, RULES AND POLICIES – The LESSEES are required to comply
with all the laws, rules, regulations and policies set by the The Manansala Tower ad-
ministration office.

7. RESIDENTIAL PURPOSE - The Leased Premises shall be used for residential purposes
only and shall not be used for purposes other than residential without the written con-
sent of the LESSORS, which consent shall not be unreasonably withheld. LESSORS al-
low a maximum of two (2) individuals for short or long stay in the unit including the
main occupants. The LESSEES shall not assign or sublet the Leased Premises without
the written consent of the LESSORS. The LESSEES may sublet the parking space identi-
fied above.

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8. IMPROVEMENTS - The LESSEES may not introduce any improvements or alterations in
the Leased Premises unless a written consent of the intended improvements and/or
alterations is approved by the LESSORS. But all movable improvements and alterations
as may be made by the LESSEES on Leased Premises shall remain the exclusive prop-
erty of the LESSEES upon the termination of this Lease Contract except those which
are permanent in nature and those which cannot be removed without causing damage
or injury to the Leased Premises, for which the same shall inure to the benefit of the
LESSORS. Any major alteration or improvement made by the LESSEES shall automati-
cally inure to the benefit of the LESSORS and become the property of the LESSORS
without any obligation on the latters' part to pay or refund the value or cost of these
improvements, unless the said improvements may be removed without causing dam-
age to the Leased Premises.

9. FIXTURES / FURNISHINGS – The Leased Premises are furnished with items enumer-
ated in the inventory list marked as Annex “A” of this Lease Contract, and which is
made an integral part hereof. The LESSEES hereby confirm receipt these items in good
and undamaged condition, and shall be responsible for the proper maintenance, re-
pair and return of these items in good and working condition at the expiration of the
term of the lease (excluding reasonable wear-and-tear).

10. SANITATION AND REPAIRS – The LESSEES have inspected the Leased Premises and
found the same to be the same and in good tenantable condition, that the LESSEES
shall at their expense keep the premises clean and in sanitary condition and keep
them in all times in good condition. The LESSORS shall be responsible for all major re-
pairs on the Leased Premises including water, electrical and sewage installations
caused by force nature, ordinary wear and tear, the lapse of time or any damage at-
tributable to termite or other similar causes, except for repairs required for damage
due to the fault or negligence of the LESSEES, guests, visitors, and members of his
household. The LESSORS, upon prior notice to the LESSEES, shall have the right during
reasonable hours with prior consent of the LESSEES, to enter and inspect the Leased
Premises and to make the necessary repair thereon. Minor repairs shall be the respon-
sibility of the LESSEES.

For the purpose of clarifying these provisions, “major repairs” shall refer to those
which entail an expenditure of more than Ten Thousand Pesos (Php 10,000.00) while
“minor repairs” are those which will entail an expenditure of TEN THOUSAND PESOS
(Php 10,000) or less per item of repair including cost of material and labor. Minor re-
pair shall be for the account of the LESSEES, while major repair shall be for the account
of the LESSORS. The LESSEES shall be responsible for all repairs due to the fault or neg-
ligence of the LESSEES, member of her household, guests or visitors.

11. FIRE HAZARDS - The LESSEES shall not keep, deposit or store in the Leased Premises
any obnoxious substance or inflammable material or substance that might constitute
fire hazard.

12. INSPECTION AND VISITATION - The LESSEES shall maintain the Leased Premises in
good tenantable condition and for such purpose, the LESSORS reserve the right, at
reasonable times and with prior notice to the LESSEES, to enter and inspect the Leased
Premises and to make necessary repairs, therein. The LESSEES likewise agree to coop-
erate with the LESSORS in keeping the Leased Premises in good and tenantable condi-
tion.

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 The LESSEES agree to cooperate with the LESSORS or their authorized representative
or agents and allow them to enter the Leased Premises at any reasonable time and
hour or as otherwise arranged by mutual consent, in order to inspect the same, under-
take maintenance, repairs and such other works or services necessary for the preser-
vation, conservation or improvement of the Leased Premises, after prior notice is
given to the LESSEES.

13. TAXES AND INSURANCE - Real estate taxes and all other government assessments and
fire insurance charges, shall be for account of the LESSORS.  

14. PEACEFUL POSSESSION - During the existence and continuance of this Lease Contract,
the LESSORS shall warrant the peaceful possession and enjoyment of the Leased
Premises by the LESSEES.

15. SALE, TRANSFER, MORTGAGE - In the event of a sale, transfer, mortgage or any other
encumbrance of the Leased Premises, or any sale, transfer, mortgage or encumbrance
of the same, the LESSORS shall warrant that the purchaser, mortgager or encum-
brance shall respect the terms of this Lease Contract including the provisions for the
renewal thereof. To this end, the LESSORS undertake to inform any existing or
prospective buyer, mortgagee, or any transferee of the existence of this Lease Con-
tract.

16. SUBSTANTIAL DAMAGE TO THE PREMISES - In case of substantial damage to the

Leased Premises or any portion hereof by fire, typhoon, earthquake or any other
cause, the LESSEES shall give immediate notice thereof to the LESSORS. If the Leased
Premises are damaged by fire, typhoon, earthquake or any other natural calamities
and without the fault or negligence of the LESSEES, members of the households/fam-
ily, agents, employees or visitors, the damages shall be repaired at the expense of the
LESSORS as speedily as possible after such notice. However, the LESSEES may make
the said repairs and shall be entitled to full reimbursement from the LESSORS, if the
LESSORS are unable to make the said repairs within a reasonable amount of time.

If due to the damages caused by natural calamities or damages caused without the
fault or negligence of the LESSEES, members of her household/family, employees,
agents or guests, a portion of the Leased Premises is not suitable for occupancy, the
LESSEES shall be entitled to refund the proportionate amount of the rentals paid in ad-
vance. If, however, as a result of such damages, the Leased Premises be so nearly de-
stroyed as to render the same untenantable without the fault or negligence of the
LESSEES, members of the household/family, employees, agents or guests, either party
may demand for the rescission of this Lease Contract and in such case, the deposit
mentioned above, and any unused or unapplied advance rentals made before termi-
nation of this Lease Contract shall be returned or refunded to the LESSEES. Nothing in
this paragraph shall exempt the LESSEES from liability to the LESSORS for damages
caused by the fault of the LESSEES, her households/family, employees or guests.

The LESSEES, during his occupancy of the Leased Premises shall hold the LESSORS 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 LESSEES,
his agents, employees, domestic help and guests.

17. RETURN OF THE LEASED PREMISES - Upon the termination of this Lease Contract for
any reason whatsoever or any extension thereof, the LESSEES undertake to vacate the

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 Leased Premises and return possession to the LESSORS peacefully and without need of
demand. The LESSEES shall return the Leased Premises to the LESSORS in the same
and tenantable condition as it was upon LESSEES’ occupancy; otherwise, the cost of
such cleaning and repairs shall be for the account of the LESSEES. The Leased Premises
must be turned over by the LESSEES to the LESSORS in a clean and orderly manner, ex-
cept for natural wear and tear.

18. TERMINATION OF LEASE (PRE-TERMINATION) – This is a one (1) year guaranteed

lease. The LESSEES warrant the fulfillment of the initial full term of this Lease Contract.
Should the LESSEES pre-terminate prior to the contemplated date of the termination,
this shall result in the forfeiture of the two (2) months security deposit and the unused
advance rental as liquidated damages. All unpaid bills should be settled and cleared by
the LESSEES and shall not be absorbed by the forfeited amount due to pre-termina-
tion.

In the event of the termination of this Lease Contract for any reason whatsoever, the
LESSEES shall immediately vacate the Leased Premises with due notice to the LESSORS
and peacefully surrender possession thereof to the LESSORS in the same good, clean,
orderly, and habitable condition as it was when the LESSEES set without need or fur-
ther act or deed.

19. SMOKING AND PETS - It is not allowed to smoke inside the Leased Premises or bring in
pets. In case this rule is disobeyed, any value decrease that can be related hereto will
be subtracted from the security deposit.

20. ATTORNEY’S FEES - In the event of any breach of this Lease Contract by the LESSEES or
LESSORS, the party causing the breach by court of law or arbitration shall pay the ag -
grieved party the sum equivalent to twenty-five (25%) percent of the total amount
claimed in the complaint as attorney’s fees which amount, however, shall in no case
be less than TEN THOUSAND PESOS (Php 10,000) in Philippine currency plus the cost
of the suit.

21. VENUE OF ACTION - Any action arising under this Lease Contract shall be brought be-
fore the proper Courts of Makati.

22. This Lease Contract supersedes any and all contract executed prior hereto, which shall
be considered of no force and effect.

IN WITNESS WHEREOF, the parties hereto have signed these presents on the date at
the place first above-mentioned or written.

LESSORS LESSEES

By: By:

___________________________________ ______________________________________

___________________________________ ______________________________________

SIGNED IN THE PRESENCE OF:

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______________________________  ___________________________

ACKNOWLEDGMENT

REPUBLIC OF THE PHILIPPINES }

MAKATI CITY                                } s.s.

BEFORE ME, this day personally appeared:

Govt Issued ID No. Valid Until

Known to me and to me known to be the same persons who executed the foregoing Lease
Contract and acknowledged to me that the same is their free and voluntary act and deed
which they represent for uses and purposes therein set forth. 

I further certify that said Contract consists of nine (9) pages including Lease Contract, Annex
A for inventory, and signed by the above-named parties and their witness/es.

IN WITNESS WHEREOF, I have hereunto affixed my signature and notarial seal in Angeles
City, Philippines, this .
   

Doc. No.______;
Page No.______;
Book No.______;
Series of 2022.

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ANNEX A: FURNITURE and
FIXTURES INCLUDED

(1) Full double sized mattress

(2) Full double sized bed frame
(3) Headboard storage
(4) Cubby hole shelf
(5) 2-seater armless couch (to be removed)
(6) Combi blinds
(7) Extension cord

(8) 2-seater sofa bed with cover

(9) Glass dining table
(10) Bench with cover
(11) 2 picture frames
(12) Carrier Airconditioning Unit with remote
(13) White 4-tier ladder shelf
(14) Intercom unit

(15) Electric fan

(16) Hanging shelf
(17) Console table for TV
(18) 32in TV (to be removed)
(19) Desk with storage
(20) Swivel desk chair
(21) Wall clock
(22) Picture frames x2
(23) Trash bin
(24) Extension cord

(25) LG Refrigerator
(26) American Standard Microwave
(27) Elba Washer
(28) Elba Dryer
(29) La Germania Rangehood

(30) Pull down dish rack above sink

(31) Panasonic water heater
(32) HCFC 10lbs fire extinguisher
(33) Dish drain x2
(34) Trash bin

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(35) Cutlery holder
(36) 16-piece silverware
(37) 4 wooden cooking utensils
(38) Peelers x2
(39) Can opener
(40) Coasters x8 (silicone and wood)
(41) Kitchen scissors
(42) Rice cooker accessories (measuring cup, rice cooker ladle)

(43) Knife holder

(44) 5pc knives
(45) Knife sharpener
(46) Dowell induction stove

(47) Hanabishi 1L rice cooker with steamer

(48) White electric kettle
(49) Masflex pot with cover
(50) Masflex sauce pan with cover small
(51) Masflex pan

(52) 8pcs white china (2 plates, 2 dessert plates, 2 deep plates, 2

bowls)
(53) 4 glass teacups and saucers
(54) 4 drinking glasses

(55) Shoe cabinet

(56) Hanging shelf
(57) Peg board with accessories
(58) Magnetic glass memo board
(59) Hanging shelf with hooks
(60) Full body mirror

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(61) Glass shelf near sink x2
(62) Bidet
(63) Tissue Holder
(64) Mirror
(65) Trash bin
(66) Glass shelf 3-tier
(67) Towel rack

(68) Glass shower enclosure

(69) Shower head and faucet
(70) Shower rack
(71) Soap holder

(72) Parking at B1-072

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 ACKNOWLEDGMENT RECEIPT

This is to acknowledge receipt of the following checks issued to as

payment under the Lease Contract:

DATE ISSUING BANK / CHECK NO. AMOUNT

P 114,000.00

July 20, 2022 P 38,000.00

August 20, 2022 P 38,000.00

September 20, 2022 P 38,000.00

October 20, 2022 P 38,000.00

November 20, 2022 P 38,000.00

December 20, 2022 P 38,000.00

January 20, 2023 P 38,000.00

February 20, 2023 P 38,000.00

March 20, 2023 P 38,000.00

April 20, 2023 P 38,000.00

May 20, 2023 P 38,000.00

Received By:

Name:
Date:

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June 19, 2022

TURNOVER OF KEYS AND RFID CARDS

Received from the following sets of keys and RFID access

cards

1. Two sets of keys for the main door, consisting of keys for the door knob, double lock, and
mailbox per set.
2. Two RFID access cards with serial numbers as indicated on the photo below

In case of loss, one (1) set of keys will be charged at one thousand pesos (Php1,000), while
the RFID access card will be charged in accordance to the charges imposed by The Man-
ansala Towers administration office.
RECEIVED BY:

Prepared by mdhc

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