CONTRACT OF LEASE

KNOW ALL MEN BY THESE PRESENTS:

This CONTRACT OF LEASE made and entered into by and between:

ROSALINA NERI, of legal age, Filipino, married, and a resident of Brgyy. Miranda,
Babak Dist., Island Garden City of Samal, Philippines, hereinafter called the LESSOR;

-and-

ROSALINDA LISBOA, of legal age, filipino, married, and a resident of Binoling,

Peñaplata, Samal Dist., Island Garden City of Samal, Philippines, hereinafter called the
LESSEE;
WITNESSETH:

WHEREAS, the LESSOR is the registered owner of the Space Rental with
approximately an area of FIFTY (50) Square Meters, situated at Brgy. Miranda, Babak
Dist., Island Garden City of Samal, Davao del Norte, Philippines;

That the LESSOR intends to lease the vacant space and LESSEE, hereby accepts
such lease.

NOW THEREFORE, for and in consideration of the forgoing premises and the
agreement hereinafter set forth, the LESSOR hereby let and leases unto the LESSEE, the
aforementioned vacant space subject to the following terms and conditions to wit:

Section 1. TERM – This LEASE AGREEMENT shall have a term of FIVE (5)
YEARS, commencing on March 9, 2024 and ending March 9, 2029.

This AGREEMENT may be renewed for a similar period of time and

the Lessee shall be given priority among others to renew again upon
written notice of the Lessee to the Lessor at least thirty (30) days prior
to the expiration of the lease.

Section 2. RENT – The LESSEE shall pay to the LESSOR by way of rent for the
use and occupancy of the property a monthly rent of FIVE THOUSAND (P5,000.00)
PESOS. The LESSEE shall give the LESSOR the amount of TEN THOUSAND
(P10,000.00), representing ONE (1) month deposit, one (1) month advance; The deposit
is to guarantee LESSEE’S obligations under the lease, and any unpaid obligations and
liabilities of the LESSEE, including utilities at the termination of the lease. The LESSEE
may not apply the deposit against the monthly rentals. That the LESSEE shall be given
space purposely for customers and owner’s parking only. The deposit shall be retained by
the LESSOR, and refunded to the LESSEE on the day that the LESSEE vacates the leased
premises less deduction as enumerated below, if any. After two (2) years of lease, FOUR
(4%) PERCENT shall be increased based on a monthly rental.

That upon occupancy, all expenses incurred by the LESSEE shall be

deducted in a monthly basis not less than P2,000.00 in a monthly basis until full
payment has been made;
Section 3. REPAIR, ALTERATIONS, ADDITIONS AND IMPROVEMENTS – The
LESSEE may make any alteration, addition, or improvement in or upon the leased
premises; provided, however, that all such alterations, additions or improvements made by
the LESSEE shall be at the expense of the LESSEE, upon the expiration of this
CONTRACT; that expenses incurred for the paint (specifically outside and portion of the
business site), electrical wiring and labor shall be deducted in the amount of P2,000.00
monthly until full payment has been made then back to the normal;
 Section 4. UTILITIES – The LESSEE shall pay all utility bills of the leased
premises throughout the duration of the agreement. The LESSOR certifies that utilities
(water & electricity) are connected to the premises, and are functioning and in good order;
Section 5. USE OF PREMISES – It is the essence of this contract that the
LESSEE will use the leased premises that he/she shall maintain the same in such a way
that it will not constitute a public or private nuisance; and that she shall not allow to be
carried on within the leased premises any illicit or illegal acts or activities liability resulting
from these acts or activities shall be borne solely by the LESSEE;

Section 6. RETURN OF LEASED PREMISES: Upon the expiration of the period

of the lease or its renewals or extensions, the LESSEE shall make full accounting of such
liabilities such as losses or damages of property and/or pertaining to the restoration of
premises to its best original condition. The LESSEE shall turnover to the LESSOR all keys
to the leased premises;

Section 7. SUB-LEASE - The LESSEE shall not sublease the premises or any
portion thereof without the knowledge and written consent of the LESSOR;

The LESSOR shall not be responsible for the loss of the existing things leased, or for
any damaged of the premises

IN WITNESS WHEREOF, both parties have hereunto affixed their signatures,

_______________________ at ___________________________, Philippines.

ROSALINA NERI ROSALINDA LISBOA

Lessor Lessee
Valid ID No.: _________________ Valid ID No.: _________________

SIGNED IN THE PRESENCE OF:

1.) __________________________ 2.) __________________________

Republic of the Philippines)

)s.s.
x…………………………….x

ACKNOWLEDGMENT
BEFORE ME, this _____________________, at ______________________,
Philippines, came and appeared the above-named persons with Valid ID Nos. clearly shown
below their names, known to me to be the same persons who executed the foregoing
instruments, and further acknowledged to me that the same is their free and voluntary act
and deed.
WITNESS MY HAND AND SEAL.

Doc. No._______;
Page No._______;
Book No._______;
Series of _______.