BOND AGREEMENT

KNOW ALL MEN BY THESE PRESENTS:

This Bond Agreement is entered into by and between the following

parties on this ______________ at Quezon City, Philippines.

________________________________, of legal age, Filipino, single/married,

residing at __________________________________________________________
____________________________, hereinafter referred to as the “FIRST
PARTY”.
-and-

________________________________, of legal age, Filipino, single/married,

residing at __________________________________________________________
____________________________, hereinafter referred to as the “SECOND
PARTY”.

WITNESSETH

WHEREAS, the SECOND PARTY is engaged in the business of

____________________ and is seeking to lease a parcel of land with
improvement;

WHEREAS, the FIRST PARTY is leasing out a property with building

located at _______________________________________;

WHEREAS, FIRST PARTY require the payment of a bond prior to the

execution of a Lease Contract as an assurance of the SECOND PARTY’s
commitment to complete and fulfill the said contract;

NOW THEREFORE, in consideration of the foregoing premises, and of

the stipulations hereunder provided, the FIRST PARTY and SECOND
PARTY hereby agree as follows:

1. The SECOND PARTY hereby agrees to entrust to the FIRST PARTY

the total amount of _________________________________________ (Php
____________________), Philippine Currency, in cash, upon the signing
of this Agreement and will serve as bond securing the execution of a
Lease Contract in favor of the SECOND PARTY;

2. The cash bond signifies meeting of the minds of the parties and as
such, FIRST PARTY can no longer negotiate with other possible
tenant for the lease of the above-mentioned property, unless there is a
failure to execute a Lease Contract with the SECOND PARTY within
_____ (__) days from the receipt of the cash bond by the FIRST
PARTY;

3. The cash bond shall be returned to SECOND PARTY upon the

termination or expiration of the Lease Contract without the need of
demand and for this purpose, the Lease Contract shall be attached
herein as part of this Agreement;

4. In the event that the Lease Contract was not executed without any
fault on the part of the SECOND PARTY, the FIRST PARTY shall
 immediately return in full the cash bond. However, if the failure to
execute the Lease Contract is due to the fault of the SECOND PARTY,
he will be given ____ (__) days to remedied the situation. Upon the
lapse of the said days and still no contract is executed, the FIRST
PARTY will deduct ____ (__%) percent from the total amount of the
cash bond as penalty;

5. This Agreement is valid and legally binding from the date of its

execution until ________________________________;

6. The SECOND PARTY irrevocably warrants that the funds invested are
legitimate funds from legitimate sources and of no criminal origin.

7. The FIRST PARTY undertakes to maintain the cash bond entrusted

herein separate from its own assets and away from the claims of its
creditors.

8. This Agreement will be terminated upon the expiration of the above-

mentioned period or upon mutual consent of the parties in writing.

9. Shall the SECOND PARTY decide to withdraw the Bond Agreement,

he is required to give an advance notice of ______ (____) days prior to
withdrawing from this Agreement. The said withdrawal must be in
writing. As consequence of said withdraw, the FIRST PARTY have the
option whether to return the cash bond in full or deduct ____ (__%)
percent from the total amount of the cash bond as penalty;

10. In case breach of any of the conditions and stipulations herein

provided, it shall be sufficient cause for the termination of this
Agreement.

11. The parties hereby declare, manifests and represents that they have
read carefully and thoroughly and fully understood this Bond
Agreement and that they are agreeable to the Terms and Conditions of
this Agreement.

12. This Agreement contains the entire agreement and understanding of

the parties with respect to the subject matter hereof and replaces all
prior discussions, agreements, proposals, understandings, whether
orally or in writing, between the parties related to the subject matter
of this Agreement. This Agreement may be changed, modified or
amended only in a written agreement that is duly executed by
authorized representatives of the parties. If any provision hereof is
deemed to be illegal or unenforceable by a court of competent
jurisdiction, then such part shall be severed from the remainder of
this Agreement which will continue to be valid and enforceable to the
fullest extent permitted by law. No party’s waiver of any breach or
accommodation to the other party shall be deemed to be a waiver of
any subsequent breach.

13. Philippine law shall govern the interpretation and enforcement of this
Agreement. This agreement and any disputes or claims arising out of
or in connection with its subject matter are governed by and
construed in accordance with the law of Philippines. The parties
irrevocably and unconditionally submit to settle any dispute or claim
that arises out of or in connection with this agreement to the
 exclusive and original jurisdiction of the general courts of law
exclusively in Quezon City only.

IN WITNESS WHEREOF, the parties and their witnesses hereby affix

their signatures on this this _______________ at _______________, Philippines.

_________________________ ______________________

First Party Second Party

Signed in the presence of:

______________________ ______________________

(Signature over printed name) (Signature over printed name)

REPUBLIC OF THE PHILIPPINES }

} S.S.

ACKNOWLEDGMENT

BEFORE ME, a Notary Public, on this ____________________ at

____________________, Philippines, the following persons personally appeared:

NAME COMPETENT DATE AND PLACE

EVIDENCE OF OF ISSUANCE
IDENTITY

All known to me to be the same persons who executed the foregoing

instrument which they acknowledged as their free and voluntary act, and deed.

This instrument relates to Bond Agreement which consists of three (3)

pages including the page on which this acknowledgment is written, each and
every page of which have been signed in the left margin by the parties and their
witnesses.

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

Doc. No.:_____
Page No.:_____
Book No.:_____
Series of 2022.