CONTRACT OF LEASE

KNOW ALL MEN BY THESE PRESENTS:

This CONTRACT OF LEASE (“Contract”) made and entered into this 3rd of March 2023 in Taguig City,
Philippines, by and between:

Gina Ronquillo Luengas, of legal age, Filipino and with postal address at Purok Sampaguita,
Aras-Asan, Cagwait, Surigao del Sur, Philippines hereinafter referred to as the “LESSOR”;

and

Jonel Michael Hermitanio Rivera, of legal age, Filipino, and with postal address at 2158-A Elias
St., Brgy. 351, Santa Cruz 1014, Manila City, National Capital Region, Philippines , hereinafter
referred to as the “LESSEE”;

WITNESSETH: That –

WHEREAS, the LESSOR is the absolute and registered owner of a residential condominium unit
described as Unit 16-G, one bedroom fully furnished unit with an approximate area of 41.20 square
meters at Seibu Tower, 6th Avenue cor 24th Street, Bonifacio Global City, Taguig City, Philippines
hereinafter referred to as the “LEASED PREMISES”;

WHEREAS, the LESSEE desires to lease the above-described LEASED PREMISES from the
LESSOR and the LESSOR is willing to lease the same to the LESSEE;

WHEREAS, the LESSEE hereby acknowledges that he has identified and inspected the
LEASED PREMISES and accepts the same on a fully furnished basis. List of unit inventory inclusion is
identified as “Annex A” with this Contract.

NOW, THEREFORE, for and in consideration of the foregoing premises, and the mutual
covenants herein contained and to be performed, the LESSOR has agreed to lease, and the LESSEE
hereby accepts the same by way of Lease, the aforesaid LEASED PREMISES, under the following terms
and conditions:

1. TERM OF LEASE
1.1. The term of this lease shall be for a period of one (1) year to commence on April 1, 2023
and automatically terminating on March 31, 2024 without the necessity of demand or
notice of any kind whatsoever;
1.2. The Parties may renew this Contract but solely on the discretion of the LESSOR under
such terms and conditions as the Parties may mutually agree. In the event that LESSEE
wishes to renew this Contract, the LESSEE must notify the LESSOR in writing of its
wish to renew at least sixty (60) days before the expiration of the Contract. The LESSOR
and LESSEE shall endeavor to execute a Contract of Lease for the renewed term of at

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 least thirty (30) days before the actual expiration of this Contract. In the event that
LESSEE will not renew the contract, the LESSOR is automatically authorized to show
the unit to prospective clients at reasonable pre-arranged times immediately upon non-
renewal advice from the LESSEE and within the sixty (60) days before the actual
expiration of the Contract of Lease;
1.3. This Contract of Lease shall automatically terminate upon failure of both parties to arrive
at a renewal agreement on the expiration of the Contract of Lease;
1.4. The LESSOR warrants that she has good title to the LEASED PREMISES and full right
to enter into this Contract. The LESSOR agrees to indemnify and hold the LESSEE free
and harmless from any and all loss, damage or liability suffered by the LESSEE in the
event that this Contract cannot be enforced due to a defect in the LESSOR’s title or right
to enter into this Contract; and
1.5. Upon the expiration of the Contract or termination due to default, the LESSOR shall
exercise the rights, without need of any judicial declaration, provided for either by law or
in Section 16.1.1, 16.1.3, and 16.1.5 of this Contract. The LESSOR shall exercise his/her
rights in cumulative.

2. RENTAL RATE
2.1. The LESSEE shall pay to the LESSOR a monthly rent (net of EVAT and inclusive of
association dues) of PESOS: Thirty Thousand Pesos (30,000.00), Philippine currency,
payable upon move in, without necessity of demand;
2.2. Upon signing this Contract, the LESSEE shall issue in favor of and deliver to the
LESSOR post-dated local clearing checks to cover the monthly rental payments as well
as the advance rent and security deposit as specified in Section 4 below;
2.3. The monthly rental excludes the utility charges, which shall all be for the account of the
LESSEE, as provided in certain provisions of this Contract;
2.4. The LESSEE hereby agrees to pay to the LESSOR a penalty of two (2) percent (2%) per
month on any monthly rental not paid on time to be computed from the date of
delinquency.

3. PAYMENT OF LEASE, ADVANCE RENT AND SECURITY DEPOSIT

3.1. Upon signing this Contract, the LESSEE shall pay to the LESSOR the amount equivalent
to one (1) month’s rent of PESOS: Thirty Thousand Pesos (PhP 30,000.00) as advance
rental payment. This advance rental payment shall be applied as payment for April 2023.
The LESSEE shall give eleven (11) post-dated checks, each dated 1st of each month
covered, representing payment for the lease period May 1, 2023 to March 31, 2024;
3.2. Upon signing this Contract, the LESSEE shall pay cash with the LESSOR the amount
equivalent to two (2) months rent or PESOS: Sixty Thousand Pesos (PhP 60,000.00),
which shall serve as a security deposit.
3.2.1. The security deposit shall be held to answer for any obligations which the
LESSEE may have under this Contract arising out of the use and occupancy of
the LEASED PREMISES, whether by the LESSOR or third persons, such as but
not limited to damage to the LEASED PREMISES, excepting damage due to
Acts of God, all accruing prior to the termination of this Contract.

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 3.2.2. The LESSEE shall maintain the security deposit in full all throughout the term of
this Contract, and the same cannot be applied as payment of rentals
corresponding to any month nor for utility bills.
3.2.3. The security deposit shall be retained by the LESSOR for a period not to exceed
sixty (60) days from the termination of the Contract to answer for the above-
specified obligations. The balance, if any, would be refunded to the LESSEE
after the lapse of the aforesaid 60 day period, provided the LESSEE vacates the
LEASED PREMISES in accordance with the terms and conditions of this
Contract. However, if after the application of the security deposit there still
remains some unpaid obligations on the part of the LESSEE and in the event that
the LESSOR shall advance payments of such unpaid obligations, the LESSEE
agrees to reimburse the LESSOR for such payments made by the LESSOR
within fifteen (15) days from receipt of the notice of reimbursement. If the
LESSEE fails to reimburse the LESSOR within the said fifteen (15) days, any
unpaid amount shall earn an interest of twelve percent (12%) per annum,
retroactive to the date when the LESSEE should have paid such unpaid
obligations.

4. OCCUPANTS
4.1. The maximum occupancy of the unit shall not exceed two (2) people. The unit will only
be occupied by the LESSEE.
4.2. A maximum of one (1) person shall be allowed as guests or visitors for accommodation
and may be allowed to stay in the LEASED PREMISES for a period not longer than five
(5) days, provided there is a written consent from the LESSOR..
4.3. Each resident/visitor is jointly and severally liable for this Contract and the rules set by
the management of the building.

5. UTILITY CHARGES
5.1. The following shall be for the account of the LESSEE - All expenses for utilities
pertaining to the LEASED PREMISES such as water, electricity, cooking gas, telephone,
internet, cable TV, newspaper, and other subscription charged; services such as pest
control including termites; appliance maintenance including cleaning and maintenance of
grease trap on a monthly basis, cleaning of the air-conditioning units on a quarterly basis
by qualified technicians; and other services rendered in the LESSEE’s favor.
5.2. Any increase in the Association Dues during the course of this Lease Agreement shall be
for the account of the LESSEE.

6. SANITATION, MAINTENANCE, AND REPAIRS

6.1. The LESSEE shall keep the LEASED PREMISES clean and in sanitary condition and
take good care and keep it at all times in very good condition. The LESSEE has inspected
the LEASED PREMISES and has found the same to be in good and tenantable condition.
Upon turnover of the LEASED PREMISES by the LESSOR to the LESSEE, the
LESSOR hereby warrants that all the furniture, equipment, machinery fixtures, switches,
appliances and all other paraphernalia, if any, included in the LEASED PREMISES in

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 good and proper working condition, and the maintenance and upkeep of these shall be the
sole responsibility of the LESSEE.
6.2. The LESSOR shall be responsible for any major structural, electrical or plumbing repairs
on the LEASED PREMISES caused by ordinary wear and tear, except repairs due to fault
or negligence of the LESSEE, members of his household, guests or visitors. The
LESSOR shall attend to all major repairs promptly upon receipt of complaint from the
LESSEE. All repairs of whatever nature amounting to Five THOUSAND (P 5,000)
PESOS and below per occurrence shall be for account of the LESSEE. Minor repairs
such as the repair of toilet, bowls, drains, leaks in sinks and faucets, broken door knobs
and closet handles, replacement of light bulbs, ballast, and fuses and the like shall be for
the account of the LESSEE. Any works for any major structural, electrical or plumbing
repairs per occurrence in excess of the five Thousand (P 5,000) Pesos shall be for the
account of the LESSOR. The LESSEE shall provide for the regular pest control visitation
by qualified and reputable Pest Control Company against pests such as insects,
mosquitoes, rodents, white ants and termites.
6.3. Any loss or damage caused to the furniture, fixtures, and appliances due to any cause
whatsoever shall be for the account of the LESSEE who shall immediately replace the
same with the same kind and quality or repair the same to its original condition. Routine
maintenance of appliances and air-conditioning units shall be for the account of the
LESSEE. Air-condition units must be cleaned every four months by a professional
service company. LESSEE should provide the LESSOR a copy of all receipts.

7. ASSIGNMENTS / SUBLEASE
7.1. The LESSEE shall not assign or transfer its rights in this Contract or sublease or sublet
all or any part of the LEASED PREMISES.
7.2. Any violation of this provision shall put the LESSEE in default.

8. RESTRICTION ON THE USE OF LEASED PREMISES

8.1. The LESSEE shall use the LEASED PREMISES exclusively for residential purposes
only. The LESSEE shall not use the LEASED PREMISES for any other purposes;
8.2. Likewise, the LESSEE shall be bound to strictly comply with the Master Deed with
Declaration of Restrictions (for condominium corporation) or Deed of Restriction (for
homeowners’ association), Articles of Incorporation, By-Laws, rules, regulations, and
policies of either the condominium corporation or homeowners’ association, as the case
may be.

9. IMPROVEMENTS AND ALTERATIONS BY THE LESSEE

9.1. The LESSEE shall not make any alterations or modifications on the LEASED
PREMISES without the prior written consent of the LESSOR and if such consent is
granted, shall be at the own expense of the LESSEE; provided, however, that all
alterations or improvements made by the LESSEE at its own expenses, except movable
furniture and fixtures and improvements by the removal of which shall no deface the
LEASED PREMISES, shall become the property of the LESSOR at the termination of
the Contract, without compensation to the LESSEE.

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10. PUBLIC UTILITIES / RISK OF LOSS OR DAMAGES
10.1. The LESSEE shall pay for his/her water, telephone service, garbage, electricity, and other
public services or utilities;
10.2. The LESSOR shall not be accountable or liable for any loss, injury or damages that may
be suffered by the LESSEE in the LEASED PREMISES by reason of theft, robbery,
arson, or other crimes;
10.3. The LESSOR shall not be liable nor responsible for any of the following:
10.3.1. For the presence of bugs, vermins, rats, ants, or mice, termites insects of any
kind, if any, in the LEASED PREMISES or;
10.3.2. For the failure of the water supply and/or electric current or;
10.3.3. Any injury, loss or damage which the LESSEE, his/her family, agents, guests,
domestic helpers, or employees might sustain in the LEASED PREMISES;
10.3.4. Any damage done or occasioned by, or arising from plumbing, water, and/or
other pipes, or the bursting, leaking, or destruction of any pipe, tank, water
closet, electrical and other service utilities; or
10.3.5. Any damage caused by fire, earthquake, strike, demonstration, riot, rebellion,
typhoon, flood, water or other unforeseen cause or event.
10.4. No loss or damage in the LEASED PREMISES shall impair the LESSEE’s obligations
under this Contract.

11. COMPLIANCE WITH LAWS, RULES, AND REGULATIONS

11.1. The LESSEE shall comply with any and all rules, regulations and policies currently
existing or which may be promulgated from time to time by the LESSOR as well as the
rules, regulations, ordinances and laws established by all duly constituted authorities of
the municipal or city or national government arising from or regarding the use,
occupancy, sanitation and pollution of the LEASED PREMISES.

12. FIRE HAZARD AND OBNOXIOUS SUBSTANCE

12.1. The LESSEE shall not keep, deposit, or store in the LEASED PREMISES any
obnoxious, toxic or inflammable materials/or substance that might constitute a fire
hazard, or might pollute the air and water as prohibited by law nor shall the LESSEE do
or cause to be done, any act that would invalidate any insurance policy on the LEASED
PREMISES or increasing the existing rate of fire insurance hereof.

13. TAXES, DUES, AND ASSESSMENTS

13.1. Real estate taxes, withholding taxes and other government assessments on the LEASED
PREMISES shall be for the account of the LESSOR;
13.2. Joining fees, regular or special assessments or association dues levied by the
condominium corporation shall be for the sole account of the LESSOR, the amounts of
which shall be advised to the LESSOR.

14. INSPECTION OF PREMISES

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 14.1. To ensure the LEASED PREMISES and all the furniture and fixtures identified in
“Annex A” are in as good condition as they were actually found at the beginning of the
lease until upon expiration of this Contract, the LESSOR reserves the right at any time to
enter and inspect the LEASED PREMISES. The LESSEE hereby agrees to cooperate
with the LESSOR in keeping the LEASED PREMISES in good tenantable condition.
14.2. Upon prior notice to the LESSOR, the LESSEE shall give the right of the LESSOR to
show or exhibit the LEASED PREMISES to prospective tenants or buyers, in case the
LESSEE has no more intention of renewing the Contract.

15. DEFAULT AND CONSEQUENCES OF DEFAULT

15.1. Upon the dishonor by the bank of any post-dated checks representing the LESSEE’s
rental payments and/or the violation of any of the terms and conditions of this Contract
by the LESSEE, the LESSOR may immediately declare, without need of a written notice,
the LESSEE in default. Upon the LESSEE being in default, the LESSOR shall exercise,
in addition to any other remedies as may be prescribed by the law, the following rights:
15.1.1. To terminate this Contract without the need of any prior notice, demand or
judicial declaration;
15.1.2. To immediately repossess the LEASED PREMISES without the necessity of
instituting any court or judicial action. In this regard, the LESSEE hereby grants
upon the LESSOR full power and authority to take possession of the LEASED
PREMISES and to perform such acts as may be necessary to take possession,
including but not limited to entering into the LEASED PREMISES in any
feasible and convenient manner, including forcible entry, barring the LESSEE or
his/her family, employees or representatives from entering the LEASED
PREMISES, padlocking the LEASED PREMISES and/or directing the cutting of
utility services and preventing the use or enjoyment of the LEASED PREMISES,
and such other steps designed to enable the LESSOR to effectively repossess the
LEASED PREMISES;
15.1.3. To demand and receive from the LESSEE payment for any and all unpaid rentals
and other financial obligations stipulated in, or arising out of this Contract;
15.1.4. To demand and receive from the LESSEE payment for the rentals and fees
corresponding to the unexpired portion of the lease period; and
15.1.5. To take possession of and sell at public or private sale any and all properties of
the LESSEE found in the LEASED PREMISES and to apply the proceeds
thereof in payment of any unpaid accounts of the LESSEE.

16. PRE-TERMINATION
16.1. In the event the LESSEE pre-terminates the Contract, the LESSEE shall be considered in
default and shall suffer the consequences of default as stated in Section 16 of this
Contract.
16.2. As penalty, to automatically forfeit in the favor of the LESSOR the security deposit and
remaining unused amount of rental advance referred to Section 4.

17. TERMINATION OF LEASE

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 17.1. Upon termination or expiration of the Contract of Lease for any reasons whatsoever, the
LESSEE agrees and warrants to return and peacefully vacated the LEASED PREMISES
without necessity of demand.
17.2. In case of the expiration of the lease period, the LESSOR shall have all the rights stated
in Section 16 and its subsections;
17.3. At the termination or expiration of the Contract, all keys shall be returned without need of
any demand. Likewise, the LESSEE shall deliver the LEASED PREMISES in as good
and tenantable condition, in all respects, as the same now are, devoid of all furniture,
articles, and effects of any kind owned by the LESSEE.

18. MORTGAGE OR SALE OF PROPERTY

18.1. In the event that the ownership of the LEASED PREMISES is sold, transferred or
conveyed, mortgaged, or encumbered to a third party during the term of this lease or any
renewal hereof, the LESSOR undertakes to inform in writing the said third party, his/her
successors, executors, or administrators, of existence of the lease contract prior to or at
the time of the sale, transfer, conveyance, mortgage or encumbrance, and to require the
incorporation in the DEED OF ABSOLUTE SALE, OR CONVEYANCE, either by
reference or otherwise of the terms and conditions of the Contract of Lease, so as to form
part and parcel thereof. Moreover, the LESSOR undertakes to require said third party to
respect the LESSEE’s right under this Contract as well as the terms and conditions of the
lease.
18.2. In the event of the bona fide sale of the leased property, the LESSOR shall transfer and
pay to the Vendee the security deposit and remainder of the advanced rentals which are
yet to be paid to future rent under the terms of this Contract of Lease. The LESSOR shall
see to it that the Deed of Sale is provided and that the Vendee shall treat and apply said
security deposit and the remainder of the advanced rentals in accordance with the terms
of the Contract of Lease.

19. NON-WAIVER
19.1. The failure of any Party to insist upon the strict performance of any of the terms and
conditions and covenants hereof shall not be construed as a waiver or relinquishment of
any right or remedy the non-defaulting may have and shall not be a bar for any action it
may take, nor shall it be construed as a waiver of any subsequent breach of default of
these terms, conditions and covenants hereof, which terms, conditions and covenant shall
to be in full force and effect.
19.2. Any waiver of the Parties’ rights hereunder can only be made in writing.

20. VENUE
20.1. Venue of all suits actions arising out of or in connection with this Contract shall be in the
courts of Taguig City to the exclusion of other courts.

21. GOVERNMENT LAW

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 21.1. This Contract of Lease shall be governed by and construed in accordance with the laws of
the Republic of the Philippines. Any actions or claims in connection with or arising from
this Contract shall only be instituted in any competent courts of Taguig City only.

22. AMENDMENT OF CONTRACT:

22.1. Any amendment to this Contract of Lease shall be made in writing and shall be signed by
both Parties for such amendment to be effective.

23. BINDING EFFECT

23.1. This Contract shall be binding not only between the Parties hereto but also upon their
respective successors and administrators.

IN WITNESS WHEREOF, the Parties hereto have hereunto signed this _______ day of
_______ 2023 in __________.

Gina Ronquillo Luengas Jonel Michael Hermitanio Rivera

LESSOR LESSEE

SIGNED IN THE PRESENCE OF:

Salome Akiko Shintani Sumulong Zuriel Sumagaysay Ponsaran

ACKNOWLEDGEMENT

Republic of the Philippines)

Taguig, Metro Manila)

BEFORE ME, a Notary Public, for and in _____________ this _________ day of ________
2023, personally appeared the following:

Name Passport Number Date/Place of Issue

Gina Ronquillo Luengas P5661551A 18 January 2018 / DFA Manila

Jonel Michael Hermitanio Rivera P0528117B 02 February 2019 / DFA NCR West

Known to me and to me known to be the same persons who executed the foregoing instrument and who
acknowledged to me that they signed and executed the same as their free and voluntary act and deed.

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 This instrument consisting of ____ (_) pages refers to the Contract of Lease signed by both
Parties and their instrumental witnesses on each and every page thereof.

WITNESS MY HAND AND SEAL on the date and place first above written.

Doc. No. ________;

Page No. ________;
Book No. _______;
Series of 2023.

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ANNEX A:

To be updated and shared.

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