CONTRACT OF LEASE

This Contract of Lease is made and entered into this __________, 2022 in
_____________ Metro Manila, Philippines, by and between:

(Name of LESSOR), a corporation duly organized and existing under the laws
of the Philippines, with principal office address at _______________ represented by its
______________, of legal age with postal address at _______________ and
hereinafter referred to as the “LESSOR.”

-and-

(Name of LESSEE), Filipino, Single/Married, of legal age and with residence

address at _______________ hereinafter referred as the “LESSEE”.

WITNESSETH: That

WHEREAS, the LESSOR is the registered owner of a residential condominium

unit with address at ______________________ and a parking slot located at
___________________;

WHEREAS, the LESSEE desires to lease the above-mentioned premises and the
LESSOR is willing to lease the same unto the LESSEE, inclusive of furnishings (Annex
"A") subject to the following terms and conditions hereinafter specified.

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

the mutual covenants and obligations hereinafter contained and to be performed, the
LESSOR hereby leases and the LESSEE hereby accepts by way of lease from the
LESSOR and the leased premises subject to the following terms and conditions:

1. TERM - This lease shall be bound for a guaranteed lease for a period of
One (1) Year, commencing on _______________ and ending on
_____________, renewable upon mutual agreement by both parties,
provided the LESSEE gives Sixty (60) days’ notice to the LESSOR of his
intention to renew the lease of the subject premises.

If this contract is not to be renewed by the LESSEE, a notice must be

served to the LESSOR to this effect at least sixty (60) days prior to the
expiration date of the lease.

2. RENTAL – The Lessee binds itself to pay the LESSOR, a monthly rental of
AMOUNT IN WORDS (PhP __________), Philippine Currency,
inclusive of parking, payable every _____ day of the month starting from
______ onwards. Taxes and other fees shall be for the account of the
LESSEE.

(a) One Month Advance Rentals in the amount of AMOUNT IN WORDS

(PhP __________), Philippine Currency, shall be paid upon signing
of this Contract, which can be applied and used by the LESSEE as rental
payment on the last month prior to the expiration of this Contract.

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 (b) ASSOCIATION DUES – The LESSEE agrees to pay the association dues
amounting to AMOUNT IN WORDS (PhP __________), Philippine
Currency per month. Any increase in the association dues shall be for
the account of the LESSEE. Said Association Dues shall be paid by the
LESSEE to the LESSOR who shall be responsible to pay the same to the
Developer/Homeowner’s Association.

3. SECURITY DEPOSIT – Upon execution of this Contract of Lease, the

LESSEE shall pay the LESSOR the sum of AMOUNT IN WORDS (PhP
__________), Philippine Currency, Philippine Currency, as a non-
interest bearing representing two (2) month security deposit. Said amount
shall be held by the LESSOR to ensure payment for unpaid utility charges or
damages to the Leased Premises caused by the fault or negligence of the
LESSEE, members of his household, guest, pet/s or unmet responsibility of
the LESSEE which include turning over the property, treatment and furnishes
as identified in “Annex A”, except damages due to ordinary wear and tear or
fortuitous events. The deposit cannot be applied as rental fee.

In the event the said security deposit is insufficient to cover for the utility
bills such as electricity, telephone, cable and internet subscriptions, water
and gas or damages to the Leased Premises, the LESSEE guarantees to
undertake payment to the LESSOR.

Any amount of the unpaid obligations will be deducted from the deposit and
the balance, if there is any, shall be refunded to the LESSEE within sixty (60)
days after the termination of the Lease Contract and delivery of the
premises to the LESSOR and payments of all accounts noted herein.

On post-tenancy maintenance, all deductions and/or charges to be made by

the LESSOR against the Security Deposit shall be first accepted and
approved by the LESSEE prior to the performance of such service, repair or
replacement of items in the leased premises. The Lessor shall provide
receipts or other proof of payment to substantiate the deductions made
from the deposit.

4. UTILITIES – All expenses for electricity consumption, water consumption,

telephone services, gas, cable television, internet and appliance
maintenance including cleaning of air condition units on a quarterly basis,
and other services rendered in LESSEE’s favor shall be for the LESSEE’s
exclusive account.

Any and all outstanding accounts of utilities prior to the LESSEE’s occupancy
shall be the LESSOR’s liability. The LESSOR shall settle all utilities prior to
the turn-over of the Leased Premises, in which, LESSOR shall furnish the
LESSEE with copies of the last bills and receipts as reference for the initial
payment of first utility bills for the account of the LESSEE.

5. IMPROVEMENTS - The LESSEE shall not make any structural 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 or refund its
value or cost to the LESSEE.

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6. USE OF THE PREMISES – The LESSEE shall use the leased property
exclusively for RESIDENTIAL purposes. The LESSEE shall observe and
comply with pertinent rules and regulations of the Developer/Condominium
Homeowner’s Association at all times during the lease terms, and any
violation or imposition of penalty by virtue of such violation shall be for the
account of the LESSEE. Keeping pets or other animals in the Leased
Premises is shall be in accordance with the prevailing rules and regulations
of the Developer/Condominium Homeowner’s Association.

The LESSEE is expressly prohibited from subleasing any portion of the Leased
Premises. The LESSEE is likewise prohibited from accepting, whether for a
fee or gratuitously, any boarder of bed spacer on the Leased Premises.

7. PRE-TERMINATION – The term of the lease shall be guaranteed for the

period of _________________ to ____________. In the event of pre-
termination, all unused advance rental shall be forfeited in favor of the
LESSOR.

8. SANITATION AND REPAIRS - The LESSEE shall keep the leased premises
clean and in sanitary condition. The LESSEE has inspected the LEASED
PREMISES and found the same to be in good and tenantable condition
acceptable to him.

The LESSOR shall be responsible for the maintenance and cost of termite
control and repairs such as building structure, electrical, plumbing and
sewerage system including water heater and water pressure pump and
water tanks, except for repairs due to the fault or negligence of the LESSEE
or his/her agent/s.

Major repairs above P5,000.00 on the leased premises not attributable to

the LESSEE shall be for the account of the LESSOR, and such damages
caused by fire, flood, earthquake, natural disaster or calamity, without any
contributory negligence whatsoever on the part of the LESSEE or any of its
household, guests or visitors. Likewise, re-piping and reinstallation of
electrical and sanitary fixtures to upgrade or change the specification due to
end of life/ out-of-market fixtures shall be for the account of the LESSOR
regardless of the amount.

Minor repairs incurred through ordinary usage amounting to PESOS: FIVE

THOUSAND PESOS (P 5,000.00) and below per item shall be for the account
of the LESSEE including but not limited to:

a) Replacement of light bulbs and fuses;

b) Breakage or loss of faucet handles, drawer or cabinet pulls and
catches, keys, locks, toilet mechanisms (seats and water tank
covers), electrical switches or outlets and buzzers, minor faucet
leaks and damaged door knobs.
c) Routine maintenance cleaning of all air-cons (quarterly) and
appliances shall be for account of the LESSEE.

The LESSOR shall also undertake to do all repairs of all breakdowns in the
LEASED PREMISES which may occur within the first THIRTY (30) DAYS of
the tenancy as a result of age or previous use, provided that they were not
due to the fault or negligence of the LESSEE. The LESSOR shall undertake
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 repair of the same upon written notice by the LESSEE of such fact of
damage.

The LESSEE has also seen and inspected the furnishings listed in "Annex A"
hereof and found the same to be good and useful condition and further
agrees not use the same for any other than the aforementioned premises.
Any loss or damage caused to the furniture listed in "Annex A" due to any
cause whatsoever other than ordinary wear and tear, fortuitous events or
Acts of God such as typhoon, earthquake, explosion, fire, flood, etc. shall be
for the account of the LESSEE who shall immediately replace the same to its
original condition.

9. FIRE HAZARDS & OBNOXIOUS SUBSTANCES - The LESSEE shall not

keep, deposit or store in the premises any obnoxious substance or
inflammable material or substance that might constitute a fire hazard or
increase the risk of damage or destruction to the premises.

10. TAXES AND FIRE INSURANCE - Real estate taxes and government
assessments and fire insurance charges shall be for the LESSOR's account.

11.THIRD PARTY LIABILITY - The LESSEE during its occupancy of the

leased premises shall hold the LESSOR 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 property by the LESSEE, his agents,
employees, domestic help and guests.

12.DAMAGE TO THE LEASED PREMISES - In case of damage to the leased

premises as may be occasioned by the fire not attributable to the LESSEE,
earthquake, typhoon, war or similar concerted acts of men, notice thereof
must be made known to the LESSOR who shall, upon receipt thereof,
endeavour to see to it that the premises are rendered in tenantable
condition within the earliest reasonable time. If however, the premises shall
be so destroyed as to make the premises untenantable, the parties may
agree to the recession of this contract. Expenses for the repair and
restoration as above indicated shall be for the account of the LESSOR.

13.MAINTENANCE & INSPECTION OF THE PREMISES - The LESSEE shall

maintain the LEASED PREMISES in good and tenantable condition and for
such purpose, the LESSOR reserves the right at reasonable time and with
notice to enter and inspect the premises and to make the necessary repairs
thereof. The LESSEE likewise agrees to cooperate with the LESSOR in
keeping the said premises in good and tenantable condition.

14.SALE, TRANSFER AND MORTGAGE - In the event of the sale, transfer,

mortgage or any other encumbrance of the leased premises, the vendee,
transferee or mortgagee shall respect all terms and conditions of this lease
agreement including provisions for renewal thereof.

15.SURRENDER OF LEASED PREMISES - LESSEE shall immediately quit and

surrender possession of the leased premises and any improvements thereon
to the LESSOR at the termination of this lease by expiration of the lease
term or otherwise in as good condition as reasonable use and wear will
permit.

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 16.VIOLATION - Any violation of the terms herein set forth by either LESSEE
or LESSOR shall be sufficient ground for the termination of this Contract of
Lease by the LESSOR with damage accruing to the innocent party.

17.ATTORNEY'S FEES - In case of court litigation by virtue of non-payment of

the agreed rent or any other breach of this agreement on the part of the
LESSEE, the LESSOR shall have the right to collect the amount equivalent to
20% of the total obligation due as liquidated damages and reasonable
attorney's fees, exclusive of the cost legally accrued.

18.VENUE OF CASES – Any dispute arising from this Contract of Lease shall
be exclusively filed before the proper court of (City where the property is
located), to the exclusion of all other courts.

19.RULES AND REGULATIONS - The LESSEE agree to abide by the existing

rules and regulations promulgated by the Developer/Homeowner’s
Association.

IN WITNESS WHEREOF, the parties hereto have signed these presents on

the date and at the place first above-mentioned or written.

(LESSOR) (LESSEE)

SIGNED IN THE PRESENCE OF:

________________________ _______________________

ACKNOWLEDGEMENT

Republic of the Philippines)

_________________ ) S.S.

BEFORE ME, a Notary Public, for and in the above jurisdiction, personally
appeared:

Name Competent Evidence of Identity Date/Place Issued

Name of LESSOR _______________________ ________________

Name of LESSEE _______________________ _________________

and their instrumental witnesses, all known to me and to me known to be the persons
who executed the foregoing instrument and acknowledge to me that the same is their
own free and voluntary act and deed and that of the principal represented.

This instrument refers to a CONTRACT OF LEASE of the Condominium Unit

___________________ consisting of five (5) pages, including this page.

WITNESS MY HAND AND SEAL this _____________ 2022, at ________, Metro

Manila, Philippines.

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Doc. No. ; NOTARY PUBLIC
Book No. ;
Page No. ;
Series of ___.

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