CONTRACT OF LEASE

KNOW ALL MEN BY THESE PRESENTS:

This CONTRACT OF LEASE made and entered into this day November 24, 2022 in
Paranaque City, Metro Manila by and between:
Rosaly Alburo, with address in A-3-C Sto. Nino St., Moonwalk, Paranaque City hereinafter
referred to as the “LESSOR”
- and -

Paolo Reyes, with address in # 38 Peace Street, Multinational Village, Moonwalk,

Paranaque City herein after referred to as the “LESSEE”.

WITHNESSETH:
WHEREAS, the LESSOR is the absolute and registered owner of a residential property
described as Shanty house with address in A-3-B Sto. Nino St., Moonwalk, Paranaque City,
hereinafter referred to as the “LEASED PREMISES”;
WHEREAS, the LESSOR has offered to let and the LESSEE desires to lease the above
shanty house.
WHEREAS, the LESSEE desires to lease the above-mentioned LEASED 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 considering of the foregoing and mutual covenants herein
contained, the LESSOR has let and by these present does hereby let and lease unto the LESSEE
the aforesaid shanty house, and the LESSEE here by accepts the same by way of lease, subject to
the following terms and conditions:
1. PERIOD OF LEASE - The term of this lease shall be for a period of two months
commencing on November 24, 2022 to January 24, 2023. The LESSEE reserves the opton to renew
the lease for the succeeding months upon expiration of this original lease term, and under the same
terms and condition set forth herein, provided the LESSEE gives the LESSOR written notice of
his intention to renew at least fifteen (15) days before the expiration date of the initial lease term.
2. RENTAL – The LESSEE shall pay to the LESSOR the advanced monthly rental of Six
Thousand Pesos (Php 6,000.00) Philippine currency, inclusive of Association Dues.
 3. PAYMENT TERMS – Upon signing of this Contract, the LESSEE shall pay the
LESSOR:
a) The amount of SIX THOUSAND PESOS (Php 6,000.00), which shall remain
intact during the lease period, to serve as SECURITY DEPOSIT.
This security deposit shall cover any unpaid bills of the LESSEE upon termination
of the lease such as for water, electricity, other utility bills or damage to the LEASED
PREMISES and its furnishing cause by the fault of the negligence of the LESSEE, member
of its household, guest, employees and assigns, excluding natural wear and tear, such
amounts shall be deducted from this security deposit with the consent of the LESSEE, and
the balance, if any, shall be refunded to the LESSEE within sixty (60) days from
termination of this Contract and delivery of the PREMISES to the LESSOR. This deposit
cannot be applied or used for rental payment. This security deposit shall not earn interest
while held by the LESSOR.
On or before the date of turnover of the leased premises, the LESSOR together with
the LESSEE, shall inspect the leased premises in order to determine any damages beyond
normal wear and tear caused by the LESSEE’s fault or negligence and to establish the cost
of such damages, if any, for the purpose of deducting said cost from the security deposit.
b) The ONE (1) month advance rental in the amount of SIX THOUSAND PESOS
(Php 6,000.00) covering the ONE (1) month rent period From November 24, 2022 to
December 23, 2022.
c) The next Advance Payment will be due on December 24, 2022.
d) Daily rental shall not be allowed by the LESSOR.

4. WATER, ELECTRIC CURRENT, ETC. –

All utility expenses such as for water, electric current other similar charges shall be for the account
of the LESSEE. The regular association dues shall be paid by the LESSOR.
5. RESIDENTIAL PURPOSE –
The LEASED PREMISES shall be used only for residential purposes by THE LESSEE, and for
no other purpose without the prior written consent of the LESSOR. The LESSEE may not assign
or sublease the LEASED PREMISES or any part thereof without the prior written consent of the
LESSOR.
6. FIRE HAZARD AND OBNOXIOUS SUBSTANCE-
The LESSEE shall not keep, deposit, or store in the LEASED PREMISES any obnoxious or
inflammable materials or substance that might constitute a fire hazard.
7. THIRD PARTY LIABILITY
- The LESSEE during its occupancy of the LEASED PREMISES shall hold the LESSOR free and
harmless from any damage, liability or responsibility to any person or property arising out of or as
a direct consequences of the use of the LEASED PREMISES by the LESSEE, his agent,
employees, domestic help or guest.
8. PRE-TERMINATION –
This Contract of lease may be terminated by the LESSEE provided that the LESSEE shall give
prior notice of such termination to the LESSOR at least fifteen (15) days prior to the date of
cancellation.
9. WAIVER OF RIGHTS; AMENDMENTS OF CONTRACT- Failure or delay of either party to
insist once or in several instance on the strict performance by the other party of any stipulation or
condition in this contract and/or exercise of any right or option herein shall not be construed as
abandonment, withdrawal, waiver nor cancellation of such conditions, stipulation, right or option.
Any amendment to this LEASE OF CONTRACT shall be made in writing and shall be signed by
both parties for such amendment to be effective.

IN WITNESS WHEREOF, the parties have hereunto set their hands this day of November
25, 2022 in A-3-B Sto. Nino Street, Moonwalk, Paranaque City, Metro Manila

Lessor Lessee