CONTRACT OF LEASE

KNOW ALL MEN BY THESE PRESENTS:

This CONTRACT OF LEASE is made and executed, by and between:

SPOUSES ABC and BCD, of legal age, Filipino, and with address at
_______________________________ City, hereinafter referred to as the LESSOR;

-AND-

_______________________, of legal age, Filipino, married and with address at

WITNESSETH; That

WHEREAS, the LESSOR is the owner of THE LEASED PREMISES, a residential property situated at,
__________________________Davao City, more particularly described as follows:

TRANSFER CERTIFICATE OF TITLE No.

“with an area of ____________________ ( ) SQUARE METERS”

WHEREAS, the LESSOR agrees to lease-out the property to the LESSEE and the LESSEE is willing
to lease the same;

NOW THEREFORE, for and in consideration of the foregoing premises, the LESSOR leases unto the
LESSEE and the LESSEE hereby accepts from the LESSOR the LEASED premises, subject to the
following:

TERMS AND CONDITIONS

1. PURPOSE: That premises hereby leased shall be used exclusively by the LESSEE and shall not be
diverted to other uses. It is hereby expressly agreed that if at any time the premises are used for other
purposes, the LESSOR shall have the right to rescind this contract without prejudice to its other
rights under the law. The LESSEE shall have to pay the equivalent penalty specified by the
administration or building council and/or respective government on zoning agencies.

2. TERM:

a.) The term of this lease shall be for a period of three (3) months commencing on
_________________ and ending on _________________ and renewable every three (3)
months thereafter.
b.) The LESSEE shall have the option to renew/extend the term of the lease by giving
written notice at least seven (7) days prior to the expiration of this contract subject to
such terms agreed by the parties.

3. RENTAL:

a.) The monthly net rental rate for the LEASED PREMISES shall be:
____________________________(Php ), Philippine Currency. All rental payments
shall be payable to the LESSOR.
b.) The LESSEE shall pay the monthly rental to the LESSOR every 1 st day of the month
either by depositing to the bank account designated by the LESSOR or by post-dated
check. In case of deposit, the LESSEE shall provide the LESSOR the copy of the deposit
slip as proof of payment of the monthly rental.

4. PAYMENT UPON EXECUTION OF THE CONTRACT: The LESSEE shall deposit to the
LESSOR upon signing of this contract an amount equivalent to the rent for THREE (3) MONTHS or
the sum of PESOS: __________________________ (P __________), Philippine Currency wherein
 the one (1) month deposit shall be applied as rent for the 3 rd month and the remaining two (2) months
deposit shall serve as SECURITY DEPOSIT for the faithful compliance of the LESSEE of her
obligations in this contract and shall be applied to damages sustained by the leased premises and
other outstanding liabilities of the LESSEE and to unpaid bills such as electricity, water and other
bills. The deposit shall be reimbursed to the LESSEE if there are no damages or payables as
mentioned in the preceding sentence, at the end of the lease period. This security deposit or its
residue shall not bear interest and is separate and independent of the monthly rentals.

However, in the event the deposit is found to be deficient to cover for the damages and other
outstanding liabilities of the LESSEE, the LESSEE undertakes to pay the remaining balance
immediately upon receipt of the statement to the LESSOR.

5. DEFAULT PAYMENT: In case of default by the LESSEE in the payment of the rent, such as when
the checks are dishonored, the LESSOR at their option may terminate this contract and eject the
LESSEE. The LESSOR has the right to padlock the premises when the LESSEE is in default of
payment for one (1) month and may forfeit whatever rental deposit or advances have been given by
the LESSEE.

6. PUBLIC UTILITIES: All charges for electricity, water, telephone, cable television, internet and
other utility services to the Leased Premises shall be for the sole account of the LESSEE. The
LESSEE undertakes to promptly pay all utility charges directly to the utility company concerned.
The LESSOR will not be liable for the discontinuance or interruption of utility services to the
LESSEE due to any cause or reason whatsoever.

7. SUB-LEASE: The LESSEE shall not directly or indirectly sublet, allow or permit the leased
premises to be occupied in whole or in part by any person, form or corporation, neither shall the
LESSEE assign its rights hereunder to any other person or entity and no right of interest thereto or
therein shall be conferred on or vested in anyone by the LESSEE without the LESSOR'S written
approval.

8. The LESSEE shall not make any alterations, modification and/or improvements in the LEASED
PREMISES without the prior written consent and approval of the LESSOR. All or any
improvements or renovations introduced in the LEASED PREMISES by the LESSEE shall, upon
expiration or termination of this contract of lease, become the absolute property of the LESSOR,
without any obligation on the LESSOR’s part to reimburse or pay the LESSEE for the cost or value
of such improvements, alterations and/or modifications. The LESSEE undertakes no drilling works
or installations shall be made and/or introduced by her or her representatives without the express
consent of the LESSOR. Any damages caused on the leased premises by reason of the alteration,
modification, and/or improvement or drillings shall be for the sole account of the LESSEE who shall
re-do the same in the condition acceptable to the LESSOR.

9. Responsibility for the upkeep and maintenance of the LEASED PREMISES during the duration of
the lease period and all kinds and nature of repairs whatsoever shall be for the single and exclusive
account of the LESSEE who is also bound to comply with and the observance of sanity, health and
safety regulations and the like promulgated by the authorities. LESSEE furthermore binds herself to
preserve and maintain the same LEASED PREMISES with the due care and diligence of a good
father.

Replacement of busted bulbs and/or fluorescents, faucets, and other minor repairs costing Ten
Thousand (Php 10,000.00) Pesos below will be for the account of the LESSEE including cleanliness
of the leased premises’ surroundings.

10. LESSOR'S RIGHT OF ENTRY: The LESSOR or their authorized agent shall, after giving due
notice to the LESSEE, have the right to enter the premises in the presence of the LESSEE or her
representative at any reasonable hour to examine the same or make repairs therein or for the
operation and maintenance of the house or to exhibit the leased premises to prospective lessee or
buyer, or for any other lawful purposes which it may deem necessary.

11. Violation of LESSEE of any term or condition of this Contract of Lease shall give cause for
immediate cancellation or termination of the same contract.
12. LESSEE shall use the PREMISES only for legitimate purpose and shall not create neither allow any
nuisance therein upon. Violation of this provision may cause immediate revocation and outright
cancelation of this Contract and entitle the LESSOR to an injunction without necessity of filing a
bond in order to stop, restrain, enjoin or discontinue illicit business or obnoxious activity being
conducted in the LEASED PREMISES.

13. EXPIRATION OF LEASE: Upon the expiration or cancellation of this Contract of Lease, as the
case may be, LESSEE shall promptly and peacefully deliver to the LESSOR, without need of
demand, the LEASED PREMISES with all corresponding keys in good and tenable condition subject
of ordinary wear and tear expected.

Non-compliance with the terms of this clause by the LESSEE shall give the LESSOR the right, at the
latter’s option, to refuse to accept delivery of the premises and compel the LESSEE to pay rent
therefrom at the same rate plus Twenty-Five (25%) Percent thereof as penalty until the LESSEE
shall have complied with the terms hereof. The same penalty shall be imposed in case the LESSEE
shall pay to leave the premises after the expiration of this Contract of Lease or termination for any
reason whatsoever.

14. PRE-TERMINATION: Should the LESSEE pre-terminate this Contract of Lease without fault on
the part of the LESSOR, the LESSEE agrees to forfeit security deposit equivalent to two (2) months
rental in favor of the LESSOR. In addition, the LESSEE undertakes to pay all utility charges,
providing the LESSOR copies of the receipts and clearance required under the circumstances as well
as pay for any damages sustained by the leased premises.

15. PROPERTY TAXES; HOMEOWNER’S ASSOCIATION DUES: The annual property taxes on
the land and on its improvements will be shouldered by the LESSOR. The homeowner’s monthly
association dues shall be shouldered by the LESSEE.

16. JUDICIAL RELIEF: Should any one of the parties herein be compelled to seek judicial relief
against the other, the losing party shall pay the amount of One Hundred Percent (100%) of the
amount claimed in the complaint as attorney’s fees, in addition to other cost and damages which the
said party may be entitled under the law.

17. SALE OR MORTGAGE OF LEASED PREMISES: The LESSOR shall have the right to sell,
alienate, mortgage, or encumber the Leased Premises provided the LESSEE’s right under this
contract is respected. Accordingly, this condition shall be stated in the Deed of Sale, Transfer or
Assignment of the Leased Premises as the case may be.

18. INJURY OR DAMAGES: The LESSEE hereby assumes full responsibility for any damage which
may be caused to any person or property of third persons while remaining either casually or on
busines in any part of the premises leased to the LESSEE and further binds himself to hold the
LESSOR free and harmless from any such claim for injury or damage.

19. NON-LIABILITIES: The LESSOR shall not be liable for the following:

a. For the presence of snakes, bugs, vermin, ants, termites, insects, if any be in the leased
premises;
b. For the failure, interruption, or disconnection of water supply, electricity, cable television,
internet and all other public utility services.
c. For any article delivered or left to the LESSEE;
d. For any injury, loss or damage which the LESSEE might sustain in the premises due to any
cause whatsoever; and
e. For any damage done or occasioned by, or arising from plumbing, gas, water, and/or pipes, or
the bursting, leaking or destruction of any cistern, tank, wash stand, water closet or water pipe
in upon our about said leased premises for any damages arising from acts or negligence of
LESSEE, or their representatives or any and other persons.

20. FORCE MAJEURE: If whole or any part of the leased premises shall be destroyed or damaged by
fire, flood, lightning, typhoon, earthquake, storm, riot or any other unforeseen disabling cause of acts
of God, as to render the leased premises during the term substantially unfit for use and occupation of
the LESSEE, then this lease contract may be terminated without compensation by the LESSOR or by
the LESSEE by notice to the other.
21. HAZARDS: The LESSEE shall not bring into or store in the leased premises anything of highly
inflammable nature or explosive materials, not to install therein apparatus, machinery or equipment
which may cause obnoxious tremors or noise or expose of the leased premises to fire or any other
articles which the LESSOR may reasonably prohibit.

22. BREACH OF CONTRACT: It is understood that the covenants and agreements herein contained
are deemed essential conditions hereof and any default or breach made on any such conditions
hereof, right party has the right to terminate and cancel this contract by giving seven (7) days written
notice to the other.

23. This CONTRACT OF LEASE shall be binding upon the contracting parties and heirs, executors,
successors-in-interest and/or assigns.

IN WITNESS WHEREOF, parties herein affixed their signatures on the date and place above
written.

BCD

and

ABC
LESSOR LESSEE

Signed in the presence of:

____________________ _______________________

ACKNOWLEDGMENT

Republic of the Philippines}

BEFORE ME, a Notary Public for and in __________________, this _________________

Name ID No.

known to me and to me known to be the same persons who executed the foregoing instrument and
acknowledged to me that the same is their free and voluntary act and deed.

This instrument consisting of four (4) pages, including the page on which this acknowledgement
is written, has been signed on each and every page thereof by the concerned parties and their witnesses,
and refers to a CONTRACT OF LEASE.

WITNESS MY HAND AND SEAL.

Doc. No. ______;