CONTRACT OF LEASE

KNOW ALL MEN BY THESE PRESENTS

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

MARDY R. RAGUINDIN, Filipino of legal age with residence at QUEZON CITY, hereinafter
referred to as “LESSOR”.

- and –

________________________ (Name of Lessee) Filipino of legal age, single, and with

address #________________________________________________________
hereinafter referred to as the LESSEE.

WHEREAS, the LESSORS are the owners and are duly authorized to lease a apartment, more
particularly described as follows:

Unit 19-I Torre Venecia Condo, Timog Avenue, Quezon City, Fully Furnished, 1 Bedroom
Unit HEREINAFTER referred to as the LEASED PREMISES under the terms and conditions
hereinafter set forth:

WHEREAS, the LESSEE desires to lease the above-mentioned LEASED PREMISES and the LESSORS
are willing to lease the same unto the LESSEE subject to terms and conditions hereinafter
specified.

NOW, THEREFORE, for and in consideration of the foregoing and mutual covenants hereinafter
contained, the LESSOR has let and leased, and by these present do hereby let and lease unto the
LESSEE the aforesaid LEASED PREMISES and the LESSEE hereby accepts the same by way of
lease, subject to the following terms and conditions:

SECTION 1. TERM OF LEASE

1.1. The period of affectivity of this Contract shall be for 12 months commencing on
________________ (20___) to _____________ (20___), renewable thereafter
upon mutual agreement.

1.2. The LESSEE must signify his intention to extended or renew, or not to renew by written
notice thereof to the LESSORS at least SIXTY DAYS prior to the expiration of this
CONTRACT OF LEASE.

1.3. The LESSEE shall inform the LESSORS of his intention not to renew by written notice at
least THIRTY DAYS prior to the expiration of this Contract of Lease.

SECTION 2. CONSIDERATION

2.1. Both parties do hereby agree that the monthly rental of the LEASED PREMISES shall be for
____________________________ (amount in figures)
(Php________________) payable in advance for the entire term of the contract.

2.2. The LESSEE acknowledges the preferred right or lien of the LESSORS on the personal
properties of the LESSEE located in the LEASED PREMISES for any amount unpaid rental
due to the LESSORS.

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 SECTION 3. DEPOSIT AND ADVANCE

3.1. Upon execution of this Contract, the LESSEE shall pay to the LESSORS the amount of
____________________________________________ (amount in figures)
(Php______________) as one month advance rental,
____________________________________________ (amount in figures)
(Php______________) as one month SECURITY DEPOSIT. Post-dated checks shall be
dated every ________________ (date) of the month for the remaining 11 months.

3.2. Likewise, upon execution of this Contract, the LESSEE shall allow the LESSORS to continue
to keep the amount of ____________________________________________
(amount in figures) (Php______________) representing one month security
deposit. It is hereby expressly understood and agreed that this deposit shall not be
applied to the payment of the rent and shall be refunded to the lessee after 30 days,
without any interest, upon termination of the lease, provided:

a) The LESSEE shall have fully paid the rental fees, electricity, water, telephone, cable, and
other charges on the LEASED PREMISES, including damages to the LEASED PREMISES due
to reasons not covered by ordinary wear and tear;

b) The LESSEE shall have fully paid all additional charges, penalties, and obligations, if any,
as provided in this Contract, and;

c) The LESSEE shall have discharged all liabilities payable to the LESSORS and complied with
the terms and conditions as provided in this Contract.

SECTION 4. USE AND CARE OF THE LEASED PREMISES

4.1. The LESSEE shall use the LEASED PREMISES for its RESIDENCE ONLY and shall maintain
the same in clean and sanitary condition.

4.2. The LESSEE shall not divert the LEASED PREMISES to other uses without the prior written
consent to the LESSORS. Any unauthorized use shall empower the LESSORS to rescind
the Contract or increase the rent due or compel the LESSEE to discontinue the
unauthorized use of the LEASED PREMISES.

4.3. The LESSEE warrants that it shall not use the LEASED PREMISES for any illegal activity.

4.4. The LESSEE shall at all times be solely responsible for all acts or omission of its agents,
employees, or guests which may have caused any damage to LEASED PREMISES.

4.5. The LESSEE shall not deposit within the LEASED PREMISES any obnoxious, inflammable or
explosive matters.

4.6. The LESSEE shall comply with all laws, ordinances or orders of the condominium
corporation.

4.7. The LESSEE shall use the property in such a way that the same shall not constitute a
public or private nuisance and shall not permit noxious odors or noises to emanate from
the LEASED PREMISES. Social activities of the LESSEE on the LEASED PREMISES shall be
conducted without undue noise and disturbance to the occupants of the other apartments.
No dogs and other animals shall be kept in LEASED PREMISES.

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4.8. The security of the LEASED PREMISES is the sole responsibility of the LESSEE. Under no
conditions will the LESSORS be responsible for any loss of any articles in the LEASED
PREMISES.

4.9. Minor repairs, including repairs due to ordinary wear and tear up to the limit hereunder
stated, and those due to the negligent use of the LEASED PREMISES by the LESSEE,
members of his or her household, staff, clients, or guests, shall be for the LESSEE’s
account. For purposes of this paragraph, any repair amounting to FIVE THOUSAND PESOS
(Php5, 000.00) or less shall be deemed a minor repair.

4.10. All major repairs (other than that caused by negligent use of the LEASED PREMISES by the
LESSEE, member of his/her household, or his/her guest) and those due to structural
defects shall be solely for the LESSORS’ account. LESSOR shall undertake to commence
making the repairs within seven days, if possible, from receipt of written notice from the
LESSEE and have the repairs completed within reasonable time.

4.11. Prior to the execution of this Contract, the LEASED PREMISES were inspected by the
LESSORS and the LESSEE and the same was found to be in good and tenantable condition
unless otherwise noted in writing by the LESSEE, the same to be attached to this Contract
as an integral part hereof. The LESSEE shall at all times keep the LEASED PREMISES in
the same good and tenantable condition and for this purpose, the LESSORS or his
representative may, at reasonable times and with 24-hour prior notice enter the LEASED
PREMISES to examine the condition of the same.

In the event the LEASED PREMISES, or any part hereof is destroyed or rendered
untenantable by fire, war, civil disturbance, floods, typhoons, or any other calamity, the
LESSEE shall not be responsible for the restoration of the property, it is being understood
and agreed upon by the parties that the LESSORS has the sole responsibility to provide
against such contingency by insurance or other means. In case the premises have
become totally destroyed or untenantable by reason of any of the cases above-mentioned,
this lease shall be extinguished and the LESSORS shall return to the LESSEE or his
representatives the unapplied portion of advance rentals and security deposit with no
further obligation on the part of the LESSEE to pay rent, unless the LESSOR immediately
furnishes the LESSEE another property equally suitable and satisfactory to the LESSEE.

In the event, however, that the premises are only partially destroyed or rendered
untenantable, the LESSEE may elect to either terminate this lease after a 10-day written
notice to the LESSORS with the same consequences as those in case of total destruction
or, to remain in the premises and pay a proportionately reduced rent.

4.12. That in the event of any violation of the terms and conditions of this contract, the
LESSORS shall inform the LESSEE in writing and allow the LESSEE 14 days after receipt
of the notices to rectify the violation of the terms and conditions.

SECTION 5. UTILITY CHARGES

5.1. All charges for water, electricity, telephone and cable such other services and utilities in
the Leased Premises due shall be for exclusive account of the LESSEE.

5.2. Replacement of bulbs, tubes, additional outlets and switches, for use within the Leased
Premises shall be for the exclusive account of the LESSEE.

5.3. The LESSEE shall obtain the prior written consent of the LESSORS before installing
additional electric, water, telephone and teletype and/or gas connections in the Leased
Premises.

5.4. The LESSORS shall be solely responsible for all government assessments, taxes and other
charges of a public nature which are or may be levied against the property covered by this
Lease.

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5.5. The LESSEE shall be responsible for the payment of any and all fees and other charges
which may be imposed by the Condominium Corporation for all unit owners.

SECTION 6. ALTERATIONS and IMPROVEMENTS

6.1. The LESSEE shall not introduce any permanent alteration, addition or improvement on the
leased premises that cannot be removed without destroying or defacing the premises
without the previous written consent of the LESSORS. Should such consent be given, the
same shall become the property of the LESSORS upon the termination of the lease without
any right to reimbursement of the cost to the LESSEE. The LESSEE shall, however,
have the right to introduce furniture, carpets, drapes, paintings, appliances,
moveable improvements, ornamental and decorative objects or fixtures, and
remove said objects at the end of the lease. The LESSEE shall not drive nails,
screws, hooks or other abutments into or any manner deface or damage any part
of the Leased Premises except with the prior permission of the LESSORS, and the
LESSEE shall restore the affected portion (s) of the Leased Premises to their
original condition at LESSEE’s expense upon termination of this lease.

SECTION 7. SUBLEASING and TRANSFER OF RIGHTS

7.1. The LESSEE shall not sublease, assign, transfer or in any manner alienate its leasehold
rights over the LEASED PREMISES without the prior written consent of the LESSORS.

7.2. 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 his lease or any renewal
hereof, the LESSORS must inform in writing the said their party, his successor, executors,
administrators and assigns of the existence of the lease contract prior to or at the time of
the sale, transfer, conveyance, mortgage or encumberance and require the incorporation
in the DEED of SALE, or CONVEYANCE, either reference of otherwise, of the terms and
conditions of the said Lease Contract so as to form part and parcel thereof. Moreover the
LESSORS shall require the said their party to respect all the terms and conditions of this
lease. The LESSORS shall furnish the LESSEE simultaneously with a copy of such
notice/advice/letter to the third party.

In the event of a bona fide sale of the leased property, the LESSORS shall transfer and pay
to the VENDEE the security deposit and any remainder of the advance rentals which are
yet to be applied to future rent under the terms and conditions of this lease contract.
LESSORS shall see to it that the deed of sale provides that the VENDEE shall treat and
apply said security deposit and remainder of the advance rentals in accordance with the
terms and conditions of this Lease Contract.

SECTION 8. NON-WAIVER

8.1. The failure of the LESSORS to insist upon a strict performance of any of the terms and
conditions, covenants provided in the Contract shall not be considered as a waiver of any
right or remedy that said LESSORS may have, nor shall it be construed as a waiver of its
rights and remedies as provided herein for any subsequent breach or default of the terms
and covenants herein contained, which shall be deemed in full force and effect.

SECTION 9. PROSPECTIVE TENANTS

9.1. Should the LESSEE give written notice of its intention not to renew this Contract of Lease
in accordance with Clause 1 hereof, the LESSEE shall allow the LESSORS or their
representatives to show the Leased Premises to prospective tenants during business hours
within the last THIRTY DAYS of the lease within one day advance notice.

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 SECTION 10. TERMINATION OF LEASE

10.1. This lease shall automatically be terminated upon the termination of the term provided in
Section 1 hereof, absent in any agreement of the renewal of extension by the parties by
means of written notice SIXTY DAYS prior to expiration.

10.2. The LESSEE hereby accepts in good condition the Leased Premises, and upon the
expiration of the period of the lease or of its renewal and extensions. The LESSEE shall
peacefully vacate the Leased Premises and restore the possession thereof to the LESSORS
in as good condition as at the time of delivery to the LESSEE. Upon such expiration, the
LESSEE shall turn over to the LESSORS all the keys to the Leased Premises including all
duplicates.

10.3. In the event of any breach of this contract by the LESSEE, the LESSORS shall have the
right to terminate and rescind the same before the expiration of the term of the lease
specified in Section 1 hereof and any all amounts representing unused rentals shall
constitute damages due the LESSORS.

10.4. In the event of the LESSEE’s death, the surviving spouse, if any, of the LESSEE’s
representative, as the case may be, may also terminate this Lease Contract by written
notice to the LESSORS at least THIRTY DAYS in advance of the date the cancellation is to
become effective, or by written notice to the LESSORS to convert the term of this Lease
Contract to a period shorter than specified in paragraph 1 of this Lease Contract.

The LESSORS shall return to the LESSEE the security deposit as provided for in Section 3
of this Contract within THIRTY DAYS upon the expiration of the Lease Contract.

10.5. The LESSEE shall pay the LESSORS liquidated damages in the amount equivalent to ONE
MONTHS rent as a result of the Pre-Termination of the Lease Contract to the
aforementioned causes.

10.6. The Condominium Corporation shall likewise reserve the right to cut-off utilities of the
Leased Premises for the non-payment of the condominium dues and charges.

SECTION 11. MORTGAGE OR SALE OF PROPERTY

11.1. Upon violation of the LESSEE of any of the terms or conditions hereof, particularly the non
payment of the advance rentals on time, the LESSEE herein gives the LESSORS or their
duly authorized representative the absolute right and authority to retain so much of the
LESSEE’s household fixtures, furniture and things to satisfy the unpaid rentals, light,
water, telephone and other utility bills and the LESSORS or their duly authorized
representatives are further designated and named by the LESSEE as his/her attorney-in-
fact and given the absolute right to take out from the Leased Premises so much of the
LESSEE’s household fixtures, furniture and things to padlock the door of the Leased
Premises in case the LESSEE fails to comply with the terms and conditions of this contract;
further, such household furniture, fixtures and things so take out by the LESSOR, the
LESSEE likewise authorizes the LESSORS or their attorney-in-fact to dispose all or sell
same within FIFTEEN days from date of from the date of retention, to satisfy the unpaid
rentals, electric, water and telephone bills, if any.

SECTION 12. ABANDONMENT OF PREMISES

12.1. The LESSEE shall not abandon or leave unattended the Leased Premises for a continuous
period of more than THIRTY DAYS at any time during the Leased Period; violation of this
provision gives the right to the LESSORS to enter the same by force or otherwise without
any liability for prosecution thereof, and to re-let the same to another party.

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 Likewise the LESSORS is hereby constituted and appointed as Attorney-in-fact of the
LESSEE to take possession of the furniture, equipment and other properties in the
premises and to sell the same with the proceeds thereof applied to the payment of any and
all obligations of the LESSEE arising out of and under his tract. The LESSEE’s rents fixed
herein shall continue to accrue to the LESSORS until the expiration of this lease or until the
premises have been re-let, whichever comes first.

SECTION 13. ABANDONMENT OF PREMISES

13.1. The LESSEE during its occupancy of the LEASED PREMISES shall hold the LESSORS free
and harmless from any damage of liability or responsibility to any person or property
arising out of or as a consequence of the use of the property by the LESSEE, its agents,
employees, domestic helps and guests. When such damage or liability is caused by
fortuitous events or acts of God/nature such as typhoons, earthquakes, floods, etc. which
are beyond the control of the LESSEE, the latter shall not be liable to the LESSORS.

SECTION 14. TAXES AND INSURANCE

14.1. Real Estate, government assessments, and fire insurance charges shall be for the account
of the LESSORS. However, any other taxes shall be borne by the LESSEE.

SECTION 15. SALE AND TRANSFER AND MORTGAGE

15.1. In the event sale, transfer, mortgage or any other encumberances of the Leased Premises
or any existing sale, transfer, mortgage or encumberances of the same. LESSORS shall
warrant that the purchaser, mortgagee, or encumbrance shall respect all terms and
conditions of this Contract of Lease. Also, LESSORS are allowed to show the unit for
viewing to prospective buyers with prior arrangements with the LESSEE.

SECTION 16. INSPECTION OF THE PREMISES

16.1. The LESSOR shall maintain the Leased Premises in good and tenantable condition and for
such purpose the LESSORS reserve the right with prior notice to the LESSEE to enter and
inspect the Leased Premises and to make the necessary repairs therein at reasonable
times.
SECTION 17. FIRE

17.1. In case the damage of the leased premises or its appurtenance by fire, earthquake, war or
any other unforeseen cause, the LESSEE will give immediate notice therefore to the
LESSORS.

If the leased premises shall be damage by fire or other causes without the fault or
negligence of the LESSEE or its agents, clerks or servants, the injury shall be repaired at
the expense of the LESSORS, as speedily as possible, after such notice; but if the leased
premises be so nearly destroyed as to make it uninhabitable without the fault or neglect of
the LESSEE, either party may demand the rescission of this contract

No compensation or claim shall be allowed against the LESSORS by the reason of the
inconvenience, annoyance or injury arising out of the necessity of repairing any portion of
the unit.

SECTION 18. BREACH or DEFAULT

18.1. In case of default or breach of any of the covenants and conditions herein provided, this
lease at the discretion of the LESSORS, may be terminated and cancelled forthwith and the
LESSEE shall be liable for any and all damages, actual or consequential, resulting directly
or indirectly from such default and termination.

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 SECTION 19. JUDICIAL RELIEF and PENALTY

19.1. Should the LESSORS be compelled to seek judicial relief against the LESSEE to enforce this
contract, the latter shall, in addition to the damages mentioned in the preceding
paragraph, be liable to pay attorney’s fees equivalent to 20% of the amount claimed in
the complaint, the same should not be less than Php14,000 aside from the cost of the
litigation and other expenses which law may entitle the LESSORS to recover from the
LESSEE. ALL PROVISIONS, which are penal in character found in other sections of this
contract shall be considered as cumulative to the relief granted by this section.

SECTION 20. TENANTS DETAILS

20. The Lessee hereby agrees to obtain approval from the Lessors in case of any additional
tenant not listed below :

Name Gender Age Relationship Occupation ID No.

(Male/ to the Tenant
Female)

IN WITNESS WHEREOF, the parties hereto set their hands at Pangasinan, Philippines this

____/_____/20____.

BY:

__________________________________ __________________________________
SIGNATURE OVER PRINTED NAME OF LESSOR SIGNATURE OVER PRINTED NAME OF LESSEE

SIGNED IN THE PRESENCE OF:

__________________________________ __________________________________
SIGNATURE OVER PRINTED NAME OF WITNESS SIGNATURE OVER PRINTED NAME OF WITNESS

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 ACKNOWLEDGEMENT

Republic of the Philippines)

City of Mandaluyong ) S.S.

BEFORE ME, a Notary Public for and in Mandaluyong City, this ___day of ____, 20_____,
personally app

GEMMA PASCUA

__________________ (LESSE)

Known to me and to me known to be the same persons who executed the foregoing Contract of
Lease and they acknowledged to me that the same is their voluntary act and deed.

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

Doc. No. ________

Page No. ________

Book No. ________

Series of 2011

Tenant’s Details
The tenant hereby agrees to acquire permission from the landlord

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