CONTRACT OF LEASE

This Contract of Lease (this “Contract”) made and entered by and between:

JOSELENE ANNE G. TINOCO, of legal age, Filipino, with postal address

at 521 MANGOSTEEN STREET AYALA ALABANG VILLAGE,
MUNTINLUPA CITY hereinafter referred to as the LESSOR;

and

WAYNE EARLE LIM, of legal age, Filipino, Single, with postal address
located at_____________________________________________________________
hereinafter referred to as the LESSEE;

SETS FORTH THAT:

That the LESSOR is the registered owner of the Premises subject of this instrument,
purchased from the AVIDA TOWERS ASTEN UNIT 2115, STUDIO, located at
the 21st FLOOR, TOWER 1 WITH APPROXIMATELY 23.10 SQM ALONG
MALUGAY AND YAKAL STREETS, SAN ANTONIO, MAKATI CITY.

That the PROPERTY MANAGER is responsible for keeping the property in a

safe and habitable condition. This includes maintenance, repair and screening tenants
as they apply for a place in the premises. The screening process can differ but often
includes running credit checks and checking references and/or proof of employment.
That the LESSOR desires to let and lease the Premises unto the LESSEE and
is willing to lease the same from the LESSOR, subject to the following terms and
conditions hereinafter specified.

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

of the mutual covenants contained herein including the timely payment of rentals, the
LESSOR does let and lease unto LESSEE, the Leased Premises under the following
terms and conditions:

1. LEASE PERIOD – This lease shall be a period of one (1) year from the date
of signing hereof, which may be renewable upon the discretion of the
LESSOR; provided that, the LESSEE, shall inform the LESSOR in writing of
his intent to renew thirty (30) days prior to the expiration of the contract.
Lease period - From July 1, 2023 to June 30, 2024

2. LEASE RATE – The parties herein agrees that the monthly rental of the
Leased Premises shall be P15,000.00 per month to be paid to the LESSOR.
Lease rate is subject to an annual escalation on basic rent upon renewal of the
lease contract. The LESSEE shall pay an advance rent which covers the
payment for Two (2) months or a total amount of P30,000.00 (“Advance”) and
a security deposit (“Security Deposit”) of one (1) month of rent amounting to
P15,000.00 upon signing hereof and before the LESSEE can occupy the
Leased Premises. A total of P45,000.00 Philippine Peso shall be paid in cash
or bank transfer to the LESSOR on July 1, 2023.
 The remaining ten (10) months shall be paid EVERY ____ of the month of
P15,000.00 by the LESSEE to the LESSOR thru Bank Transfer (Unionbank of
the Philippines Account Number _______________)

That the LESSEE shall recognize the LESSOR’S right of preference over the
personal properties of the LESSEE in the Leased Premises in accordance with
Article 2241 of the Civil Code of the Philippines. The LESSEE agrees that the
LESSOR can padlock the Leased Premises and can retain and hold such
personal properties until the LESSEE has settled all of his/her obligations,
without incurring any criminal or civil liability, and the LESSEE hereby
waives any and all causes of action relative thereto.

3. SECURITY DEPOSIT – The Security Deposit shall not in any case be applied
as payment for rent. The unused portion of the Security Deposit, after
deducting all the costs incurred, such as, but not limited to, unpaid bills,
repairs and damages, repaint, labor and materials for restoring the Leased
Premises to its original condition excepting normal wear and tear, shall if any
be delivered to the LESSEE by the LESSOR within forty-five (45) days from
the expiration/termination of this Contract or once costs incurred have been
settled.

4. USE OF LEASED PREMISES – The use and occupancy of Leased Premises

shall be for exclusively Residential use. Maximum of THREE (3) individuals.
No pets allowed.

5. ELECTRIC CHARGES & WATER CHARGES – Electric charges shall be

paid by the LESSEE at his/her own expense directly to Meralco and water
charges to the Property Management Office of Avida Towers Asten.
Photocopies of receipts to support payments made on the above utilities shall
be submitted to the LESSOR monthly.

6. UPGRADE/RENOVATION – The LESSEE accepts and agrees to lease the

Leased Premises, AS-IS-WHERE-IS, and the LESSEE agrees that any
damage to the Leased Premises cause by the LESSEE during the term of the
lease shall be repaired/replaced at the expense of the LESSEE. The LESSEE
shall inform and secure written approval of the LESSOR before any upgrade
or renovation works are undertaken. Any improvements, repainting and or
permanent fixtures installed in the Leased Premises shall be for the account of
the LESSEE.

7. INSPECTION/REPAIR – The LESSEE shall allow the LESSOR and/or

his/her agent or representatives to enter and view and inspect the Leased
Premises any time at reasonable hours of the day. Repairs and/or replacement
of any part of the Leased Premises including fixtures damaged such as, but not
limited to, faucets, water closets, accessories, lighting fixtures and such other
parts of the same nature shall be for the sole account of the LESSEE.

8. CLEANLINESS – The LESSEE is expected to maintain cleanliness and

sanitation inside the Leased Premises at all times.
9. HOUSE RULES – The LESSEE hereby undertakes to be bound by, and to
obey, any and all Rules and Regulations that the condominium corporation or
homeowner’s association, as applicable, may impose on residents and
occupants. The House Rules shall form an integral part of this Contract such
that any violation thereof will constitute a material breach of this Contract.

10. PRE-TERMINATION OF LEASE AGREEMENT – Pre-termination of the

lease period for any other reason during the lease term and for any succeeding
renewal by the LESSEE, shall entitle the LESSOR to forfeit in his/her favor
the Advance Rents and the Security Deposit.

11. SUB-LEASE – The LESSEE shall not assign or sub-lease the Leased
Premises or any part thereof without the written consent of the LESSOR. In
the case of subleasing, LESSEE will have to inform LESSOR about the
sublessee’s personal details and submit copy of valid ID to both the building
administration and the LESSOR.

12. VIOLATION – The LESSOR shall have the right to rescind this Contract
without the need of any judicial proceedings in the event that any of the
following occur; (a) material breach of this Contract; (b) failure to pay the
agreed rental, utility bill, and (c) conduct of illegal, immoral or undesirable
activities in the Leased Premises, that can be a threat to the community,
whether or not the occurrence of which is determined in a final judgment by a
court. The LESSOR shall have the right to immediately eject the LESSEE
from the Leased Premises and to collect and recover from him/her all unpaid
rentals.

13. REMEDIES FOR BREACH OF AGREEMENT – If the LESSEE violates any

of the terms or conditions of this Contract, the LESSOR may, in addition to
any other remedies or recourse prescribed by law, pursue any or all of
following remedies, simultaneously or successively, as follows:

(a) To suspend or disconnect the electric and/or water supply and other utility
services to the Leased Premises by whatever means without incurring civil
and criminal liability or responsibility for the same;
(b) To demand and receive from the LESSEE payment for any and all unpaid
rentals, fees, charges, damages, and other financial obligations stipulated
in, or arising out of this Contract;
(c) To automatically forfeit the Security Deposit and Advance Rent;
(d) To immediately eject the LESSEE from the Leased Premises;
(e) To open, enterm padlock, secure, enclose or fence the Leased Premises, or
otherwise take full and complete physical possession and control of the
Leased Premises;
(f) To assume ownership and take full control and possession of all
alterations, additions, improvements or installations placed in the Leased
Premises;
(g) Take an inventory of the equipment, furniture, articles or merchandise
found on other personal properties located in the Leased Premises, place
any of the same in storage and charge the LESSEE the corresponding
storage fees therefore; and
 (h) In case the LESSEE fails to claim the equipment, furniture, articles or
merchandise from the storage and liquidate any liability to the LESSOR
within thirty (30) days from the date the LESSOR takes full possession of
the Leased Premises or of the LESSEE’S personal properties, to dispose of
said properties in a sale and to apply the proceeds thereof to the payment
of whatever liability and/or indebtedness the LESSEE may have to the
LESSOR, including reasonable expenses incurred by the LESSOR in
connection with such sale, without prejudice to the right of the LESSOR to
collect the deficiency, if any.

14. EXPIRATION OF LEASE – At the expiration of the term of this lease or

cancellation thereof, as herein provided, the LESSEE shall promptly deliver
the Leased Premises to the LESSOR with all corresponding keys and in as
good and tenable condition as it was when delivered to the LESSEE. Non-
compliance with the terms of this clause by the LESSEE will give the
LESSOR the right, at the latter’s option, to refuse to accept delivery of the
Leased Premises and compel the LESSEE to pay rent at the then prevailing
rate plus twenty-five percent (25%) thereof as penalty until the LESSEE shall
have complied with the terms hereof. The same penalty shall be imposed in
case the LESSEE fails to leave the Leased Premises after the expiration of this
Contract or termination for any reason whatsoever.

15. DATA PRIVACY – The parties acknowledge that any personal data
exchanged between them may be collected, processed, shared and used for
purposes relevant to the Contract. Parties mutually undertake to act in
accordance with the provisions of Republic Act No. 10173 otherwise known
as the Data Privacy Act of 2012 and its implementing rules and regulations, as
may be amended from time to time in collection.
IN WITNESS WHEREOF, the parties have hereunto set their hand this ____day of

____2023 at ___________

WAYNE EARL LIM JOSELENE ANNE TINOCO

Signature over printed name – LESSEE Signature over printed name – LESSOR

SIGNED IN THE PRESENCE OF:

Signature over Printed Name Signature over Printed Name

ACKNOWLEDGMENT

BEFORE ME, a notary public duly authorized in the city named above to take
acknowledgments, personally appeared:

Name Competent Evidence of Identity Place & Date of Issue

Joselene Anne G. Tinoco Passport Number P1058196B 3/15/2019 NCR South

Wayne Earl Lim Passport Number P0372231C 6/3/2022 DFA Manila

Who are known to me through competent evidence of identity to be the same persons
described in the foregoing instrument, who acknowledged before me that their
respective signatures on the instruments were voluntarily affixed by them for the
purposes stated therein, and who declared to me that they executed the instrument as
their free and voluntary act and deed and that of the corporation and principal
represented herein, and that they have the authority to sign on behalf of their
respective principals.
This instrument is a Contract of Lease of the Property defined herein. Each and every
page of this instrument has been signed by the parties and their witnesses.

WITNESS MY HAND AND NOTARIAL SEAL, This

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