CONTRACT OF LEASE

KNOW ALL MEN BY THESE PRESENTS:

This Contract of Lease made and entered into by and between:

RESBIE AGUILON, all of legal age, married, Filipinos, and with residence at Pardo,
Cebu City, Philippines, (hereinafter referred to as the "LESSOR");
- and –

MELIZA Y. LUMAIRES & DARRELL TAYLOR-FITZGERALD., of legal age, Filipino

and foreign national with residence Alegria Palms Dos Subdivision, Gabi, Cordova, Cebu,
Philippines, (hereinafter referred to as the "LESSEE");

WITNESSETH That:

WHEREAS, the LESSOR is absolute owner of a Residential House and

improvements thereon situated at 3008A Alegria Palms Dos Subdivision, Gabi, Cordova,
Cebu, Philippines, more particularly described as follows:

I. SUBJECT OF LEASE

A Residential House and improvements thereon situated at 3008A

Alegria Palms Dos, Gabi, Cordova, Cebu;

WHEREAS, the LESSORS desire to lease the afore-described property in favor of

the LESSEE and the LESSEE accepts the lease subject to the terms and conditions herein
set forth.
NOW, THEREFORE, for and in consideration of the terms and conditions mutually
agreed upon by the parties, the LESSORS hereby lease unto the LESSEE, her heirs,
successors and assigns, the above-described residential house and improvements
subject to the following terms and conditions, to wit:

II. TERM OF LEASE

1. That the term of this lease shall be for a period of (1) year to commence July
29, 2023 until July 28, 2024 and shall be renewable at the option of the LESSEE, and
thereafter renewable upon mutual agreement of the parties;

III. RENTAL

2. That the monthly rentals on the leased premises above-mentioned shall be

FIFTEEEN THOUSAND PESOS (P15,000.00), Philippine Currency;

3. Monthly rental is due every 28 th day of the month with seven(7) days grace
period to settle the amount, otherwise, a seven(7) % percent penalty shall be charged
per week after default of payment due. Payments shall be endorsed by means of cash
or check directly to the lessor;

IV. DEPOSIT

4. Upon execution of this contract, the LESSEE shall make a security cash
deposit equivalent to two (2) monthly rental plus one (1) one month advance rental for

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the period, which shall be non-interest bearing, as guaranty for the faithful compliance
by the LESSEE of all terms, conditions and to answer for any damage which may be
suffered by the LESSORS and other monetary liabilities or obligations of the LESSEE
under this Contract of Lease;

5. Said security deposit maybe applied by the LESSEE to any unpaid rent and or
any utilities. Otherwise, it shall remain intact and be returned to the LESSEE within
Fifteen (15) Days upon the expiration of this lease contract after the LESSEE shall have
completely and satisfactorily vacated and redelivered the leased premises to the
LESSORS, should the LESSEE shall terminate the lease contract before the expiration
thereof, for whatever cause or reason the same deposit shall be forfeited in favor of the
LESSOR;
V. OCCUPANCY AND USE OF PREMISES

6. The LESSORS hereby expressly agree and warrant that the leased premises
shall be used by the LESSEE as residential house only and not for any other purposes,
LESSEE binds to regularly undergo periodic maintenance of aircon unit/s every six
months including other amenities/appliances in the leased premises;

7. Should the LESSEE desire to accept visiting guests and relatives and stay at
the leased premises for a period of time, the LESSOR must be informed at reasonable
time beforehand, except on regular occasion and activities therein;

7. The LESSEE has examined and agreed to accept the premises in its existing
condition and understand that no work is to be performed by the LESSORS in
connection therewith except for ordinary repairs;

8. The LESSEE shall comply with any and all laws, ordinance, regulation or
orders of the National or Municipal Government Authorities, including its homeowners
association arising from or regarding the use, occupation and sanitation of the leased
premises;

9. The LESSEE shall not bring into or store in the leased premises, any
inflammable or explosive good or materials nor any article which may exposed the
leased premises to fire or increase the fire hazard of the building or increase the rate of
insurance of the building or any other articles which the LESSORS may prohibit;

VI. TRANSFER OF RIGHTS

10. The LESSEE shall not directly or indirectly sublease, sell, assign, transfer,
convey, mortgage or in any manner dispose of or encumber his right under this
contract, in whole or in part, and no right or interest thereto shall be conferred or
vested in anyone other than the LESSEE personally, and the LESSEE shall not enter
directly or indirectly into any contract with any third party in joint venture, partnership
or corporation of any kind whatsoever whereby said third party will be allowed to occupy
and transact business in the leased premises under any guise whatsoever;

VII. LIABILITY FOR INJURY, LOSS OR DAMAGE

11. The LESSEE hereby assumes full responsibility for any injury or damage
arising out of its fault or negligence that may be caused while occupying the leased
premises and further binds themselves to hold LESSORS free and harmless from any
claim to such injury or damage incurred during the term of this lease

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 VIII. WATER, POWER, TELEPHONE, ASSOCIATION DUES AND OTHER CHARGES

12. The LESSEE shall pay and defray any and all costs of water, electric power,
telephone, association dues and other services connected with the leased premises, and
the same shall be fully paid upon the expiration of the contract;

13. The LESSEE shall comply with all the national and municipal sanitary and
other orders and regulations of whatever kind and nature directed against or pertaining
to the leased premises including the rules and regulations being set by the homeowners
association or subdivision;
IX. TERMNATION OF LEASE
14. The LESSORS AND LESSEE have the option to terminate the contract of lease
for any cause, provided a 60 day prior notice shall be sent by the LESSORS to the
LESSEE if they exercised such option, while a 30 day notice only shall be necessary
on the part of the LESSEE to the LESSORS.

IN WITNESS WHEREOF, the parties have hereunto affixed their signatures this
__________________ at ____________, Philippines.

RESBIE AGUILON MELIZA Y. LUMIARES

DARRELL TAYLOR-FITZGERALD

Lessor Lessee

SIGNED IN THE PRESENCE OF:

________________________ _______________________

ACKNOWLEDGMENT

BEFORE ME, a Notary Public for and in _______________, personally appeared

RESBIE AGUILON with _______________________ issued on ___________________
at ____________________ and MELIZA Y. LUMIARES/DARRELL TAYLOR-FITZGERALD
with Valid Nos. _____________,________________ issued on
____________;______________ at _____________,______________ all personally
known to me or whom I have identified through competent evidence of identity, and who
represented that their signatures on the foregoing instrument were voluntarily affixed by
them for the purposes stated in the instrument and who declared that the foregoing
instrument is their free and voluntary act and deed.

This Instrument consists of only three (3) pages, including this page in which
this acknowledgment is written, duly signed by the parties and their instrumental
witnesses on each and every page hereof.

WITNESS MY HAND AND SEAL this ______________________at

_______________, Philippines.

Doc. No. ______;

Page No. ______;
Book No.______;
Series of 20____.

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