CONTRACT OF LEASE

KNOW ALL MEN BY THESE PRESENTS:

This Contract of Lease is made and executed by and between:
MELCHOR FRANCISCO, Filipino, of legal age, married, with residence and
postal address at 31 Pound St., CB Homes, Capitol Site, Quezon City, hereinafter
referred to as the LESSOR
and
VICTOR SIAPNO JR., Filipino, of legal age, married, with residence and postal
address at 841 Dao St., Sta. Clara, Sta. Maria, Bulacan, hereinafter referred to as the
LESSEE,
WITNESSETH
WHEREAS, the LESSOR is the owner of a residential house located at 47 Pound
St., CB Homes, Capitol Site, Quezon City
WHEREAS, the LESSEE desires to lease the aforesaid residential house and the
LESSOR has agreed to lease the same to the LESSEE,
NOW THEREFORE, for and in consideration of the foregoing premises and
mutual covenants and undertakings hereinafter specified, the LESSOR hereby leases
unto the LESSEE the above referred property subject to the following terms and
conditions:
1. The lease shall be for a period of one (1) year commencing on 01 July 2014
and ending on 30 June 2015, renewable yearly, at the option of the LESSOR
and under such terms and conditions as may be mutually agreed upon by the
parties. It may, however, be terminated by either party before expiration date,
upon written notice to each other thirty (30) days in advance of the desired
termination date.
2. The LESSEE shall pay to the LESSOR a monthly rental of TEN THOUSAND
PESOS (Php 10,000.00) which shall be paid without necessity of demand
every 5th day of the month starting July 2014.
3. The LESSEE shall pay to the LESSOR at the beginning of the lease an
amount equivalent to one (1) month advance rental and a security deposit
equivalent to two (2) months rental. The advance rental shall only be applied
to the last month prior to the end of the lease period. The deposit shall in no
case be applied to the payment of rental, but the same shall be returned to
the LESSEE at the end of the lease, less whatever damages, if any, and/or
unpaid obligations of the LESSEE incurred on utility charges such as
electricity, water, association dues, and others. If, for any reason whatsoever,
the LESSEE vacates the leased premises prior to the expiration date of the
lease, the aforesaid deposit shall be forfeited in favor of the LESSOR.

4. Charges for water, electricity, telephone, as well as association dues, and

other services used within the leased premises shall be for the sole account
of the lessee.
5. The lease premises shall be used exclusively by the LESSEE for
residential/office purposes, and shall not use the same for immoral,
clandestine, and unlawful activities. The LESSEE likewise agrees not to bring
nor store any combustible, inflammable, or explosive articles or materials in
the leased premises.
6. The LESSEE shall not assign or sublease the leased premises without the
written consent of the LESSOR.
7. The LESSEE shall not make any alterations or improvements on the leased
premises without the consent or prior approval of the LESSOR. Any
permanent installation or improvement made thereon by the LESSEE shall
form as an integral part of the leased premises owned by the LESSOR
without any right on the part of the LESSEE to the reimbursement of the cost
value thereof. If the LESSOR does not elect to retain such additions,
alterations, installations, or improvements, the leased premises shall be
restored to its original condition by the LESSEE at the expense of the
LESSEE.
8. Major repairs shall be shouldered by the LESSOR, while minor repairs shall
be at the expense of the LESSEE.
9. The LESSOR or any person acting under his authority shall be permitted by
the LESSEE to enter the leased premises any time at reasonable hours and
in convenient manner to verify the condition and provide whatever may be
needed or necessary to enhance the useful serviceability of the leased
premises.
10. Any breach or violation by the LESSEE of its obligations and duties as set
forth herein shall be a ground for termination by the LESSOR of this contract
of lease.
11. Upon termination of the lease due to lapse of its period or for other causes,
the LESSEE shall surrender peacefully to the LESSOR the leased premises
and shall turn over to the LESSOR all the keys to the leased premises.

IN WITNESS WHEREOF, the parties have hereunto set their hand this
_________________ at Quezon City.

MELCHOR FRANCISCO
LESSOR
SSS No. 03-4144213-6

VICTOR SIAPNO JR
LESSEE
SSS No. 03-2831390-3

WITNESSESS :

_________________________

_________________________

ACKNOWLEDGMENT
REPUBLIC OF THE PHILIPPINES )
QUEZON CITY ) S.S.
BEFORE ME, a Notary Public for Quezon City this ________________,
personally appeared Melchor Francisco and Victor Siapno Jr., with their respective
competent evidence of identities indicated below their names, known to me and to me
known to be the same persons who executed the foregoing document, and they
acknowledged to me that the same is their free act and deed.
WITNESS MY HAND AND SEAL at the place and on the date first above
mentioned.

NOTARY PUBLIC

Doc.No.
Page No.
Book No.
Series of 2014