CONTRACT OF LEASE

KNOW ALL MEN BY THESE PRESENTS

This Contract of Leased made and entered into this ___th day of ________ 2024, Makati City,
Philippines by and between:

GOLDEN SHELL REALTY AND SERVICES INC., with address at UNIT 309, CAMPOS RUEDA BLDG.,
MAKATI CITY, on behalf of the unit owner, hereinafter referred to as the “LESSOR”.

- AND -

ZHOU XIN, of legal age, Chinese citizen, with address at Victoria de Makati, Washington St., Makati
City hereinafter referred to as the “LESSEE”.

- WITNESSETH THAT -

WHEREAS, the LESSOR is the legal and registered owner of a residential 2 bedrooms condominium
unit known as the 1506B Victoria De Makati, fully furnished unit, containing a floor area of 42 sqm., more or
less, hereinafter referred to as the ‘PREMISES”;

WHEREAS, the LESSEE represents and warrants that she has the legal capacity to enter into this
Contract of Lease;

WHEREAS, the LESSEE desires to lease the above-mentioned PREMISES and the LESSOR is willing to
leave the same unto LESSEE, subject to the terms and conditions hereinafter set forth;

NOW, THEREFORE, for and in consideration of the foregoing mutual covenants hereinafter
contained, the LESSOR has let and by these presents does hereby let and lease unto the LESSEE the aforesaid
PREMISES and the LESSEE hereby accepts the same, subject to the following terms and condition;

1. LEASED PREMISES – The subject PREMISES is a residential two bedrooms condominium unit
located at 1506B Victoria De Makati.

2. PERIOD OF LEASE – This Contract of Lease, hereinafter referred to as renewal CONTRACT, shall
be for a period of 12 months from JULY 24, 2024 to JULY 23, 2025 renewable at the conformity
of the LESSOR and subject under such terms and conditions by mutual agreement of both
parties. Should the LESSEE desire to renew this CONTRACT, the LESSEE must signify his/her
intention by written notice thereof to the LESSOR at least (1) month prior to the expiration of
this CONTRACT.

3. AMOUNT OF RENT – The parties herein agree that the monthly rental of the PREMISES shall be
TWENTY FIVE THOUSAND PESOS (PHP 25,000.00) Philippine currency. The monthly rental shall
be inclusive of the monthly association dues only.
4. MANNER OF PAYMENT
a. Upon signing of this CONTRACT and prior to move in, the LESSEE shall pay TWENTY FIVE
THOUSAND PESOS (PHP 25,000.00) representing the 1 (ONE) month advance rental
payment and 1 (ONE) month security deposit which keep to the first contract.

PAYMENT DATE COVERED PERIOD AMOUNT

JULY 24,2023 AUGUST 23,2023 25,000.00

Total: 25,000.00

Whereas, remaining ELEVEN (11) months shall be made payment every 23TH month, with the
amount of TWENTY FIVE THOUSAND PESOS (Php 25,000.00).

b. The security deposit shall be used to settle unpaid bills, cost/expenses for any damage
to the premises, furniture, fixtures, appliances, equipment and / or unpaid bills such as
electric, water, long distance calls and other expenses as may be applicable. If the
security deposit is not enough to settle such cost / expenses, the LESSEE shall be obliged
to settle the same unto LESSOR. The unused amount shall be refunded without interest
within THIRTYFIVE (35) DAYS after the expiration of the contract, provided the LESSE has
settled the bills. The said security deposit shall not, during the lease period or any
extension or renewal thereof, be used to offset rentals or other payments to the LESSOR
from LESSEE.
c. Mode of payment for the RENTAL FEE shall be paid CASH/PDC’s. The LESSEE shall pay –
TWENTY FIVE THOUSAND PESOS (PHP25,000.00) Every 23TH of the month. A grace
period of Two (2) days shall be given and any delay payment thereafter shall be charge a
daily penalty of ONE PERCENT (1%) of the RENTAL FEE per day. The said amount shall be
directly paid to the LESSOR.
5. UTILITIES – Electricity, water, internet and other services shall be for the account of the LESSEE
and shall immediately be paid by the LESSEE upon the receipt of the billing.

6. TAXES AND INSURANCE – Real Estate taxes, fire insurance premium and other assessments shall
be for account of the LESSOR.

7. RESIDENTIAL PURPOSE – The PREMISES shall be used for residential purpose only. It shall be
used exclusively by Four (4)OCCUPANTS ONLY. Only a short stay, defined as one to three days
shall be allowed for guest/s or relatives. No more than 2 guests at a time are allowed. It shall not
be sub-leased without the written consent of the LESSOR. It cannot be used for business
purposes or as an office space.
8. HOUSE RULES AND REGULATIONS – the LESSEE agrees to abide by the existing rules and
regulations promulgated by VICTORIA DE MAKATI. The LESSOR prohibits smoking and pets in
the unit. Rowdy parties in the unit should be avoided. Proper garbage disposal should be
followed.
9. FIRE HAZARD AND OBNOXIOUS SUBSTANCES – The LESSEE shall not keep, deposit, or store in
the PREMISES any obnoxious substance or inflammable material that may be hazardous nor
install any apparatus or equipment which may expose the PREMISES due to the fault or
negligence of the full responsibility in paying for the cost of damages.
10. IMPROVEMENTS – The LESSEE shall not make any change, alteration and / or improvement in
the PREMISES without the written consent of the LESSOR. Likewise the LESSEE shall no drill holes
on the walls, including the bathroom for whatever purpose. Upon termination of the contract,
any permanent improvement so introduced by the LESSEE in the PREMISES with prior written
consent of the LESSOR, shall automatically become the property of the LESSOR without any
obligation on the latter’s part to pay or refund its value to cost to the LESSEE.

11. SANITATION, REPAIRS AND MAINTENANCE

a. The LESSEE hereby expressly acknowledges that the PREMISES, furniture, fixtures,
appliances and equipment are in good condition and agrees to maintain them, at its
expense, in such condition starting from the date of move in. In case any furniture,
fixtures, appliances or equipment will be damage or fail to operate normally due to
negligence of cleaning maintenance the LESSOR will not be reliable to any repairs,
fixtures, etc. The LESSEE agrees to keep the PREMISES in a clean and sanitary condition,
free from obnoxious odours. Upon expiration of the CONTRACT, the PREMISES,
furniture, fixtures, appliances and equipment shall be returned in as that which they
were actually found at the beginning of the lease.

b. LESSEE should follow the scheduled cleaning maintenance of the following:

i. Air-Conditioning unit is scheduled at least every 4 months
ii. Grease Trap is scheduled at least every 2 months
iii. Bathroom traps is scheduled at least every 2 weeks
iv. PREMISES is scheduled at least every month

Failure to comply will lead to penalty depending on the damage for not complying with
the schedule of cleaning and repair.

c. The LESSOR shall be responsible for all major repairs on the PREMISES caused by the
ordinary wear and tear. Any damages and repairs on the PREMISES and/or outside of it
due to the fault or negligence of the LESSEE, his household member/s, guest/s and/or
visitor/s shall be for the account of the LESSEE.

d. Minor repair costing less than three thousand pesos (PHP 3,000.00) for each occurrence
shall be for the account of the LESSEE. The clause for minor repair shall take effect one
(1) month after the LESSEE has moved in.
12. INSPECTION OF THE PREMISES – The LESSOR reserves the right to enter and inspect the
PREMISES at reasonable times and only in the presence of the LESSEE or any representative.
13. NON – LIABILITY OF THE LESSOR – The LESSOR shall not be liable for any loss, damage or
inconvenience which the LESSEE may sustain in the PREMISES and/or outside of it due to any
cause whatsoever, including but not limited to interruption of service (electricity, water,
telephone, internet, fire, theft or any fortuitous events.

14. THIRD PARTY LIABILITY – The LESSEE shall not be liable for any loss, damage, liability or
responsibility to any person or for any property arising out of consequence of the use PREMISES
by the LESSEE, his household member/s, guest/s and/or visitor/s unless cause by their
negligence and doings.

15. RETURN OF THE LEASED PREMISES – Upon termination of this CONTRACT, unless it has been
renewed or extended, the LESSEE shall immediately and peacefully return to the LESSOR the
possession of the PREMISES in as good, clean, sanitary and tenantable condition as when the
LESSEE received it from the LESSOR. The furniture, fixtures, appliances and equipment shall be
turned over by the LESSEE to the LESSOR in good condition as within the LESSEE received these.
The LESSEE are required to replace new, any damaged furniture, fixtures, appliances and
equipment that cannot be repair anymore.

Thirty (30) days prior to the expiration or cancellation of this contract, the LESSOR may show the
PREMISES to prospective tenants at reasonable hours and with at least two (2) working days
advance notice to the LESSEE. If the PREMISES are not surrendered at the expiration of the lease
period or any and all claims thereof, the LESSEE shall indemnify the LESSOR against any and all
claims made by the possession of the PREMISES to such succeeding tenant, insofar as such delay
is occasioned by the failure of the LESSEE to surrender the Leased Premises on time.

16. PRE-TERMINATION – Should the LESSEE decide to pre-terminate this CONTRACT for whatever
reason, the security deposit in the amount equivalent to two (2) months rental shall be forfeited
in favour of the LESSOR, as penalty for the pre-terminating the CONTRACT, exclusive of any
applicable cost for damages to the PREMISES, furniture, fixtures, appliances, equipment and/or
other payable s such as electric, water, telephone long distance bills. The LESSOR may terminate
this contract without need of any prior notice in case of violation of any section of the
CONTRACT.

17. NON-WAIVER – The failure of the LESSOR to insist upon a strict performance of any of the terms,
conditions and covenants herein shall not be deemed a relinquishment or waiver of any or
remedy which the LESSOR may have nor shall it be construed as a waiver of any subsequently
breach or default of the terms, conditions and covenants herein contained, but the same shall
continue to be in full force and effect. No waiver by the LESSOR shall be deemed to have been
made unless expressed in writing and signed by the LESSOR.

18. BREACH OR DEFAULT – If the LESSEE violates any of the terms or conditions of this CONTRACT,
the LESSOR may, in addition to any other remedies or recourse prescribed by law, pursue any or
all of following remedies, simultaneously or successively, as follows:
 a) To terminate this CONTRACT of Lease without the need of any prior notice, demand
or judicial declaration;

b) To demand and receive from the LESSEE payment for any and all unpaid rentals,
fees, charges, damages, and other financial obligations stipulated in, or arising out of this
CONTRACT;

c) To automatically forfeit the Security Deposit and Advances in its favour.

19. VENUE – In case of court action arising from or in relation to this CONTRACT, the venue shall be
only and exclusively in the proper court of MAKATI CITY.

IN WITNESS WHEREOF, the parties have hereunto set their hands at the place and date first above
written.

LESSOR: LESSEE:

GOLDEN SHELL REALTY ESTATE ZHOU XIN

SIGNED IN THE PRESENCE OF:

____________________________ __________________________

ACKNOWLEDGEMENT

Republic of the Philippines)

Makati City

Before me, the _____ day of ___________________, 2024, in the City of __________________, personally
appeared:
Known to me and to me known to be the same persons who executed the foregoing instrument and
they acknowledged to me that the same is their free and voluntary act and deed.

This instrument refers to a Contract of Lease consisting of 5 pages including ANNEX A and B, and this
page wherein this acknowledgment is written and signed by the parties and their instrumental witness on
each and every page thereof

WITNESS MY HAND AND SEAL

Doc. No._____________
Book No._____________
Page No._____________
Series of 2024