CONTRACT OF LEASE

KNOW ALL MEN BY THESE PRESENT:

This CONTRACT OF LEASE, made and entered into on

this__________________ in _______________by and between:

-------------all of legal age, Filipinos, of legal age and

for the purpose this contract they may be served with
notices at -, and are represented herein by -, to be
hereinafter referred to as the LESSOR;

-and-

-, Filipino, of legal age, married and a resident of ---------,

hereinafter referred to as the LESSEE.

WITHNESSETH that –

WHEREAS, the LESSOR is the Registered owner in fee simple of a

parcel of land covered by Transfer Certificate of Title No--------------
consisting of ------------ square meters located in -----------------------
(hereinafter referred to as the “Property”).

WHEREAS, the LESSEE made known his intention to lease a

portion of the Property which he will use as an expansion of his business
located within the Property;

WHEREAS, the LESSOR agreed to lease the LESSEE a portion of

the said Properyty with the understanding that the same shall be
exclusively used for commercial purposes, and that the area to be leased
to the LESSEE shall be ----------- square meters.

NOW, THEREFORE, for and in consideration of the foregoing

premises, the LESSOR hereby leases unto the said LESSEE the above-
described property under the following terms and conditions:

1. The leased property shall be a portion of --------------- The land

area subject of this lease contract is -------------- square meters
which shall be located beside ------------- of the LESSEE.

2. The lease shall be for a period of five (05) years commencing

on 01 June 2019 until 01 June 2024

3. The monthly rental fee shall be as follows:

a. Thirty-Five Thousand Pesos (P35,000.00) per month for the first

three (03) years; and

b. Forty Thousand Pesos (P40,000.00) per month for the last

two (2) years.
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Provided that the rental shall be payable within the first five days
of the month without need of demand. Provided further that the upon the
signing of this Contract, the LESSEE shall deliver to the LESSOR a
current dated check covering the rental for the first month of the lease
contract, eleven (11) postdated checks to cover the remaining rentals for
the first year of the lease contract. Provided finally that at the first month
of each contractual year, the LESSEE shall deliver to the LESSOR twelve
post-dated checks for the rental payment for each year.

4. The lease contract shall automatically expire at the end of

the contractual period stipulated herein.

5. The LESSEE shall pay to the LESSOR a security deposit

equivalent to two (2) months rental. In addition, the LESSEE shall
likewise pay an advance rental of one (1) month. The LESSEE shall pay
the said security deposit and advance rental upon signing of this
Contract. Provided that the security deposit may not be used to cover
any portion of the rental, and shall be used to cover whatever damage
sustained by the lease premises, and to cover unpaid utility bills,
whatever remaining amount shall be returned to the LESSEE at the end
of the lease.

6. The period of lease shall be renewable only at the option of

the LESSOR and under such terms and conditions as are acceptable to
the LESSOR.

7. The premises herein leased shall be used by the LESSEE

exclusively for commercial purposes of the LESSEE, like but not limited
to hardware, trading and junkshop and/or businesses upon the
discretion of the lessee and shall not divert the premises to other uses
without the prior written consent of the LESSOR.

8. The LESSEE is hereby authorized to build improvements on

the subject property to enable him to undertake his business on the
subject property. Provided that the LESSEE shall remove all the
improvements on the leased premises at the end of the lease period.
Provided further that the LESSEE shall be solely responsible for the
payment of the real estate tax on the said improvements.

9. The LESSEE shall pay for their water, gas, telephone, service
bill, and other public services and utilities.

10. The LESSOR shall not be, nor responsible for any injury, or
loss, or damage which the LESSEE, or any member of his household
might sustain in the premises due to any cause whatsoever, or for any
damage done or occasioned by, or arising from plumbing, gas, water
and/or other pipes or the bursting, leaking or destruction of any system
tank, wash stand, water closet or waste.

11. Except for gasoline and related products, the LESSEE shall
not bring into or store in the leased premises, material of a highly
inflammable nature or explosive materials nor install there in any
apparatus, machinery or equipment or which may cause obnoxious
tremors or noise exposed the neighboring areas to fire or any other
activity which the LESSOR may reasonably prohibit it being understood
that should the LESSEE do so, not only shall the LESSEE responsible
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for all damages which such violations may have caused the LESSOR
shall in addition have the right to cancel this contract without need of
notice and the security deposit forfeited.

12. The LESSEE shall not assign its rights in this Contract nor
sub lease all or any part or the leased premises, without the prior written
consents of the LESSOR, and nor the right to lease be transferable to
anyone else other than the LESSEE. In short, this lease agreement is by
and between the parties that have signed herein.

13. The LESSEE agrees to return and surrender the leased

premises at the expiration of the term of this lease, unless renewed by
written agreement, and subject to the provisions of par. 6 hereof

14. Should the LESSEE decide to terminate the lease agreement

before the expiry date, the LESSEE shall notify the LESSOR in writing at
least three (3) months before the expiration of the lease period, and the
LESSEE shall be penalized to the amount equivalent to two (2) months
rental at the present rate.

15. In case the leased premises shall be deserted or vacated

before the expiration of this Lease Contract, the LESSOR shall have the
right to enter the same as the agent of the LESSEE, either by force of
otherwise, without being liable held liable for such entry.

16. The failure of the LESSOR to insist upon stick performance

of any terms conditions, and covenants, hereof shall not be deemed a
relinquishment or waiver any right or remedy that said LESSOR may
have, nor shall it be construed as a waiver of any subsequent breach of
default to the terms, conditions, and coven into shall continue to be full
force and effects. No waiver by the LESSOR of any rights under this
contract shall be deemed to have unless expressed in writing and signed
by the LESSOR.

IN WITNESS WHEREOF, the parties have caused this instrument

to the duly executed this __________________ in _________________.

--------------------------------------------------------. -----------------------------
LESSOR LESSEE

Represented by:

---------------------------

SIGNED IN THE PRESENCE OF:

____________________________ __________________________
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ACKNOWLEDGEMENT

REPUBLIC OF THE PHILIPPINES)

_________________________________ ) S. S.

BEFORE ME, A Notary Public for and in the ___________________ on

this ____________ day of ____________ personally appeared:

Name I.D. No. Issued on: Issued at

-

known me and to me known to be the same persons who executed the

foregoing instrument and they acknowledge to me that the same is their
free and voluntary act and deed.

The foregoing instrument relates to a Contract of Lease consisting

of four (4) pages including the page in which this acknowledgement is
written and signed by the contracting parties and their witnesses on
each and every page thereof.

WITNESS MY HAND AND SEAL, this ___ day of

____________________ 2019.

Doc. No. ____;

Page No. ____;
Book No. ____;
Series of 2019.