CONTRACT OF LEASE

KNOW ALL MEN BY THESE PRESENTS:

This CONTRACT OF LEASE is entered into at Calbayog City, Philippines, this 24 th day
of June 2019, by and between:

MYRNA IGNACIO-BANO, of legal age, Filipino citizen, with residence and

postal address at A-11 Rd. 1 Don Julio Gregorio Street, Bagbag Novaliches,
Quezon City, Philippines, hereinafter referred to as the “LESSOR”,

-AND-

MR. SVEN DANNENHAUS, of legal age, German citizen, married to

FONACIER DANNENHAUS, with residence and postal address at Riidenberg
Street II, 59909 Bestwig, Velmede Germany, hereinafter referred to as the
“LESSEE”,
WITNESSETH: THAT

WHEREAS, the LESSOR is the legal, absolute owner by virtue of purchase of a certain
parcel of land situated in Brgy. Rawis, Calbayog City, Philippines, and more particularly
described as follows:

“A parcel of land known and designated as Lot No. 3391, Cad. 22, Case-02,
situated in Brgy. Rawis,Calbayog City, Bounded on the S, along line 1-2 by Lot
3393, Cad-422, Case-2; SW, along lines 2-3-4-5-6-7-8-9 by Lot 3390, Cad-422;
N, along lines 9-10-11-12-13-14-15 by Lot 3390, Cad-422; E, along lines 15-16-
17-18 by Lot 3389, Cad-422; SE, along lines 18-1 by Lot 3392, Cad-422.
Containing an area of FIFTEEN THOUSAND SEVEN HUNDRED THIRTY
(15,730) SQUIRE METERS, more or less, covered by Original Certificate of Title
(OCT) No. 5037, Patent No. 086003-992180 in the name of Bruno Erilla as a
registered owner.”

WHEREAS, the LESSEE desires to lease the above-mentioned property, 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 and the mutual
covenants hereinafter set forth, the LESSOR has let and leased, and by these presents does
hereby lease unto the LESSEE the aforesaid parcel of land subject to the following terms and
conditions, to wit:

1. Period of Lease and Rentals: That the term of this Lease shall be for a period of
TWENTY FIVE (25) YEARS to commence upon the signing of this contract, during
which period the LESSEE shall be bound to pay to the LESSOR at her above
address a monthly rental of Ten Thousand Pesos (Php10,000.00), Philippine
Currency for the first one (1) year of this agreement, which shall be increased by
One Thousand Pesos (Php1,000.00) every year thereafter. The rentals shall be paid
by the LESSEE to the LESSOR on a monthly basis payable on or before the 30 th day
of every month;

2. Use and Purpose: That the LESSEE hereby agrees and warrants that the leased
premises shall be used by them for residential purposes; on the contrary, It is hereby
further agreed and understood that said LESSEE is not prohibited to use said
premises for any other purpose or purposes provided that it is with prior consent of
the LESSOR; In this connection, the LESSEE shall have the right to make such
alterations and additions in such parts of the leased premises as he finds necessary
 for the other purposes for which said premises are to him leased, at his own
expenses, provided that such alteration and additions will not injure said premises;

3. Rights of lessee non-transferable: The LESSEE shall not directly or indirectly

sublease, assign, or transfer his right of lease over the leased premises or any
portion thereof under any circumstances whatsoever, and any such contract made in
violation of this clause shall be null and void;

4. Taxes and Disposal of Property: That Real Estate taxes and government
assessments shall be for the LESSOR’s account and it is hereby expressly agreed
that the LESSOR shall not sell, mortgage or encumber the Leased Real Property
during the term of this contract.

5. Improvements: That it is likewise expressly agreed by the parties herein that any and
all fixed improvements or renovations that will be introduced in the subject parcel of
land of whatever nature such as may be made therein shall form an integral part of
the leased premises and shall not be remove therefrom but shall belong to and
become the exclusive property of the LESSOR upon the termination of the lease,
without need for reimbursement for the costs thereof;

IN WITNESS WHEREOF, the parties have hereunto affixed their signatures this _____
day of June 2019, at Calbayog City, Samar, Philippines.

MYRNA IGNACIO-BANO
LESSOR

SVEN DANNENHAUS
LESSEE

SIGNED IN THE PRESENCE OF:

GARY R. MOLOBOCO NATIVIDAD M. IGNACIO

ACKNOWLEDGEMENT

REPUBLIC OF THE PHILIPPINES }

City of Calbayog . . . . . . . . . . } S.S.

BEFORE ME A NOTARY PUBLIC, personally appeared this _____ day of June,

2019 at Calbayog City, Philippines, and satisfactorily proven to me their identity through
competent identification document, to wit:

Name Professional Identification/Competent ID

1. MYRNA IGNACIO-BANO SSS ID No. 33-8182494-9

2. SVEN DANNENHAUS PASSPORT No.C7RWXTX37
who are the same persons who executed the foregoing instrument and acknowledged to
me that the same is their free and voluntary act and deed. This contract consists of
three (3) pages including this page wherein the acknowledgement is written, signed by
the parties and their witnesses and sealed with my notarial seal. The parties exhibited to
me their competent evidence of Identity above mentioned.

IN WITNESS WHEREOF, I have set my hand and affixed my notarial seal on the
place and date stated above.

NOTARY PUBLIC

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