CONTRACT OF LEASE

KNOW ALL MEN BY THESE PRESENTS:

This Contract of Lease made and entered into this _______________________ at Cebu City,
Philippines, by and between:

_____________________________________________, of legal age, __________ citizen with

residence and postal address at ____________________________________________
______________________________________________ hereinafter referred to as the "LESSOR”;

-and-

_____________________________________________, of legal age, __________ citizen with

residence and postal address at ____________________________________________
______________________________________________ hereinafter referred to as the "LESSEE”;

- WITNESSETH –

WHEREAS, the LESSOR is the true, lawful and registered owner of the Residential
Condominium Unit _________________ in ________________________________, located at
__________________________________________________________________, with a total area of
approximately _______ square meters, _______________ furnished facing _______________,
hereinafter referred to as the LEASED PREMISES.

WHEREAS, the LESSEE desires to lease the said residential condominium unit, and the
LESSOR is willing to let the same to the LESSE, subject to the terms, conditions, stipulations and
covenants set forth herein below;

NOW, THEREFORE, for and in consideration of the foregoing premises and the conditions
and stipulations hereinafter set forth, the LESSSOR hereby leases unto the LESSEE the said
residential condominium unit, including all fixtures therein and appurtenances thereto, if any,
(hereinafter referred to as the “ Leased Premises”) under the following terms and conditions:

1. LEASED PREMISES – The Leased Premises consists of a furnished condominium unit and
the list of furniture and fixtures particularly described in “ANNEX A” hereof.

The LESSEE represents and warrants that he has thoroughly inspected the furniture and
fixtures listed in “ANNEX A” and found the same to be in good order and condition. In the event of
loss or damage to the furniture and fixtures listed in “ANNEX A”, through the fault or negligence of
the LESSEE, or any of its officers, employees or representatives, the LESSEE shall replace the lost
item/s or compensate the LESSOR based on cost price less reasonable allowance for
depreciation.

2. AMOUNT OF RENT AND TERM OF LEASE. The parties agree that the rental of the Leased
Premises shall be paid in Philippine
Currency,_____________________________________________________________________
(_______________________) Philippine currency, NET per month Inclusive of Internet and TV plus
charges and Exclusive of expenses for water, electricity and Condominium Dues that are incurred
during the term of Lease.

The Lease shall be for a period of _____________________________ to take effect on

_____________________ to _________________________________. The lease is renewable only at the
sole option of the LESSOR. The LESSEE shall communicate in writing/verbal to the LESSOR its
intention to renew the Lease at least thirty (30) days prior to the expiration of the contract.

3. RENTAL. The LESSEE shall pay an advance rental equivalent to ONE (1) MONTH to the
sum of PESOS: ________________________________________________________ (______________)
Philippine currency, upon signing this agreement and prior move-in which amount without

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interest. The said advance rental shall be applied for the lease period from ______________________
to _____________________________. However, any unapplied amount shall be forfeited in favor of
the LESSOR in the event the Contract of Lease is terminated before expiry for any reason
whatsoever;

LESSEE should pay rental on or before _______ day of every month; Payments made after
the period prescribed herein shall be subject to a penalty of 5%; Payments made after the end of
the month shall be considered delinquent and a surcharge of 2% per month compounded
monthly shall be charged in addition to the penalty. However, the LESSOR at his option may
terminate this lease when the LESSEE becomes delinquent or fails to pay at least one (1)
month’s rental and the latter shall immediately vacate the premises leased as well as pay for
the rentals accrued penalties and surcharges;

4. SECURITY DEPOSIT. The LESSEE shall PAY to the LESSOR the sum PESOS:
___________________________________________________________ (PhP _________________________ )
ONLY Philippine currency, as SECURITY DEPOSIT which will not be used as rent or offset any rent
that is due; In the event of a rent increase the LESSEE shall update the deposit by paying an
additional sum corresponding to the new rental rate agreed upon;
The deposit will answer for unpaid accounts incurred by the LESSEE, such as water,
electricity telephone bills and such other assessments, including damage which may be caused
on the leased premises, except for reasonable wear and tear.

The security deposit shall be refundable to the LESSEE which amount without interest after
the termination of the Lease Agreement, at Least 30 days after its termination and only after the
outstanding accounts have been paid and cleared and/or after the LESSEE can show proof that
all bills have been duly paid and cleared and after the LESSOR shall have fully inspected the lease
primes and is satisfied that no damages or losses attributable to the LESSEE has been sustained on
the premises and the amount of the deposit is subject for PHP______________________ deduction
for housekeeping of the unit upon turn over, aircon cleaning and laundry.

5. USED OF LEASED PREMISES. During the term of this contract, the LEASED PREMISES shall be
used by the LESSEE exclusively for residential purposes only. The LESSEE is hereby strictly prohibited
from using said premises for any other purpose or business without the prior written consent and
approval of the LESSOR; It is moreover, the understanding of the parties hereto that the LESSEE
shall not use the leased premises owned by the LESSOR for illegal trade of any form and such
other illegal acts punishable by law or rules and regulations enforced by the government
authorities;

The LESSEE promises to keep the leased premises in clean and sanitary condition and
agrees to abide by all the rules and regulations which may be promulgated from time to time by
the LESSOR for the better maintenance of the leased premises; No pets, or animals shall be
allowed inside the leased premises. The LESSOR or his duly authorized representative shall have
the right to inspect the leased premises at any reasonable hour of the day;

The LESSEE binds himself not to bring into or store within the leased premises flammable
goods, explosive objects or other articles which will endanger the building or increase its fire
hazard and the LESSOR shall not do or cause to be done any act or thing which will likewise
increase the fire hazard or fire insurance of the building;

The LESSEE shall not put up any signboard, paint or inscribe any sign in or outside the
leased premises or in any portion of the property of the LESSOR, without the previous written
consent of the latter. The LESSEE further warrants that any sign, display, or advertisement to be put
up shall not be contrary to law, indecent or offensive to public morals or good taste. The LESSOR
has the right to prohibit, remove, or order the removal or destruction of any objectionable signs or
materials which may be found in the leased premises in violation of the warranty aforementioned,
without any liability for reimbursement of the cost or value thereof;

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 Regular occupants shall be limited to two (2) persons. Multiple residents such as extended
family or friends and the like shall not be deemed part of the occupants allowed. The possession
of the Leased Premises by such occupants shall be deemed to be possession by the LESSEE
himself, and the latter shall be bound by all acts and omissions of the occupants, their respective
family members, servants and guests in respect to the use and occupancy of the Leased Premises
and the observance of the conditions of this lease, as if the said acts and omissions were those of
Lessee himself.

LESSEE shall not directly or indirectly sublease, assign, transfer, convey, mortgage or in any
way encumber his right of lease over the leased premises or any portion thereof, under any
circumstances whatsoever; any violation, direct or indirect, of any stipulation hereof shall
automatically and unequivocally terminate this lease contract from the time such violation
occurs. And LESSEE shall not be entitled to any refund of any advance rental payment.

6. EXTENSIONS. Unless renewed, the LESSEE shall vacate the unit on or before the
expiration date of this contract without benefit or renewal. LESSEE is deemed to have extended
his stay only by the tolerance of the LESSOR in which case LESSEE is liable to pay a full month’s
rental corresponding to the month of the extended stay. The extension on a monthly basis should
not be construed as an automatic renewal of the lease contract but solely on the basis of mere
tolerance by the LESSOR.
7. ASSIGNMENT OR SUBLEASE. The LESSEE shall not directly or indirectly sub‑lease, assign,
transfer, or in any way encumber his right of lease to the whole or part of the leased premises
under any circumstances whatsoever; any contract such as may be made in violation of this
clause shall be null and void;

8. IMPROVEMENTS. The LESSEE, upon acceptance of the premises, expressly acknowledge

that the leased premises are in good and tenantable condition and agree to keep the same in
such good and tenantable condition for which they bind themselves to undertake at their
exclusive purpose all ordinary repairs for which necessary to maintain the same condition. It is
expressly agreed that the LESSEE shall not start or proceed with any repair work nor in any case
paint, make alterations or changes in the electrical or plumbing installations, nor introduce any
improvements within the leased premises without the prior written consent and approval of the
LESSOR

Provided, however, that all improvements or alterations such as maybe made therein
which can be removed without damage or injury to the leased premises shall remain and belong
to the LESSEE, Otherwise, it shall form an integral part of the leased premises and shall not be
removed there from but shall belong and become exclusive property of the LESSOR upon
termination of the lease, without need for reimbursement of the costs thereof.

9. INSPECTION OF PREMISES. The LESSEE shall maintain the Leased Premises in good and
tenantable condition and for such purpose the LESSOR reserves the right every 1 month at
reasonable times to enter and inspect the Leased Premises.

The LESSEE agrees that the LESSOR or its authorized representative may at any reasonable
times, with prior notice, enter into and upon the LEASED PREMISES to inspect or observe the
manner of its use, make necessary for the proper operation or maintenance of the LEASE
PREMISES. Further, during the last one (1) month of the term of this Contract, LESSEE agrees to
allow LESSOR or its authorized representative access to the LEASED PREMISES for purposes of
showing it to prospective tenants.

10. SANITATION AND REPAIRS. The LESSEE, upon acceptance of the premises, expressly
acknowledges that the leased premises and fixtures are in good and tenantable condition and
agrees to keep the same in such good and tenantable condition, ordinary wear and tear
expected.

The LESSEE shall, at the latter’s exclusive expense, maintain the leased premises in good,
clean and sanitary condition, free from defects and noxious odors, disturbing noises, or other
nuisances as well as take good care of the furnishings of the unit. This shall include routine

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maintenance of the air-conditioning units by a competent technician for the account of the
LESSEE. Routine maintenance of any machinery/electronics shall be for the account of the
LESSOR.

Repairs for damages caused by force majeure and ordinary wear and tear, except for
damages due solely to the fault or negligence of the LESSEE or any of his representatives or guests,
shall be for the account of the LESSOR.

However, minor repairs shall be for the account of the LESSEE. Minor repairs are those
costing FIVE THOUSAND PESOS (Php 5,000.00) or less. Repairs exceeding such amount shall be
considered major and shall be for the account of the LESSOR.

Should any of the furnishings or part of the leased premises be damaged or lost through
the fault or negligence of the LESSEE or any of his representatives or guests, the LESSEE shall
replace the same at his expense with the same kind and quality or upon the option of the LESSOR,
pay the value as indicated in the attached list of the items lost or damaged.

In case of major repairs, the LESSEE shall immediately notify the LESSOR of the nature of the
repairs required and the LESSOR undertakes to repair the same within reasonable time. In case the
LESSOR fails to do so within reasonable time, the LESSEE shall inform the LESSOR in writing that it
shall obtain the services of a professional contractor to undertake the repairs in which case, all
costs related to the repair shall be for the account of the LESSOR, to be deducted from the rental
payments of the LESSEE or to be reimbursed by the LESSOR, at the option of the LESSEE.

The LESSOR shall not be liable for any loss done or occasioned by and arising from rats,
termites, plumbing, gas, roof, wall, water and/or pipes, of the bursting, leaking or running of any
cistern tank, wash stand, water closet, or waste pipe in, above, upon or about the leased
premises nor for the negligence of LESSEE, or its agents, employees, servants, or any and all other
persons. Neither shall the LESSOR be liable for loss or damage to goods or property or for injuries to
persons in, upon and/or about the leased premises for any cause whatsoever, including acts of
occupancy or employment of said premises by LESSEE or third persons and LESSEE hereby
expressly indemnify and hold harmless the LESSOR from any or all damages, responsibilities or
claims on account of any such loss or damage to goods and property or any such injuries to
persons.

11. DISTURBANCE. Disturbance of the possession of the leased premises by the LESSEE by
caused beyond the control of the LESSOR shall confer no right of any kind to LESSEE as against the
LESSOR.

12. ABANDONMENT OF LEASED PREMISES. Should the LESSEE abandon the leased premises,
equipment and fixtures thereon, upon proper inventory in the presence of the Barangay Captain,
or any authorized police official, which furniture, equipment and fixtures shall subject to judicial
disposition.
Should the court order the sale thereof by public auction, the proceeds are to be applied
to the obligations of the LESSEE, provided that, in case the proceed on the sale to be not sufficient
to meet the total obligations of the LESSEE, the LESSEE shall be liable for the remaining balance,
and should there be an excess, the same shall be refunded to the latter. It is hereby agreed and
stipulated that the leased premises shall be considered deserted or abandoned if the LESSEE
should fail to answer the demand letters of the LESSOR or to come and see the LESSOR, fifteen
days after demand and/or notice of such claim shall have been made by the LESSOR on the
LESSEE. Demand by written communication given to any person found, therein, by posting a copy
of the notice at the door of the premises, will be considered sufficient demand for the purpose of
this section.

All agreement, condition and undertaking, herein contained shall extend to and be
binding on the representatives, heirs executors, administrators, successors, and assigns of the
respective parties hereto, as if they view in all cases named.

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 13. RULES AND REGULATION. The LESSEE agrees to abide by the existing rules and
regulations promulgated by _______________________________________________________________ any
other laws, ordinances, rules and regulations promulgated by competent government authorities
affecting the occupancy of the Leased Premises. The LESSEE shall not engage in any illegal
activity nor store any illegal products at the leased premises; Failure to comply with said laws,
ordinances, regulations, or orders shall be at the exclusive risk and expense of said LESSEE.

The LESSOR/OWNER assigned the rights and privileges to use the amenities such as
swimming pool, the function room and the gym to the LESSEE. This assignment of rights to use the
amenities is revocable and co-terminus with the occupancy period stipulated in the signed lease
contract and will immediately be revoked as it expires or maybe be revoked through a written
notice addressed to the condominium corporation.

14. PRE-TERMINATION. In the event that the LESSEE shall pre-terminate this Contract before
its expiration date, for reasons not attributable to the fault or negligence of the LESSOR, the LESSEE
shall give to the LESSOR one (1) months advance notice in writing of their intention to pre-
terminate and the LESSOR shall forfeit the advance rental and security deposit. All expenses for
utilities within the Lease period shall be fully settled and paid by the LESSEE. Any damages caused
by the tenant and its guest or household members shall be charged to the LESSEE. The LESSOR
shall have the right to pre-terminate this contract before its expiration date, if the LESSEE violates
any provision in this contract.

15. AMMENDMENTS/ MODIFICATIONS – This Contract constitutes the entire agreement of

the Parties and no amendment or modification may be made hereto unless the same is reduced
in writing and signed by both parties.

16. VENUE OF ALL ACTIONS. All actions arising from this contract shall be in the proper
court of the City of Cebu.

IN WITNESS THEREOF, the parties hereunto have caused this instrument to be duly
executed this ___ day of ______ 2019 at Cebu City.

______________________ ______________________
LESSOR LESSEE

SIGNED IN THE PRESENCE OF:

__________________________________ __________________________________

REPUBLIC OF THE PHILIPPINES)

CITY OF CEBU)S.S.

BEFORE ME, a Notary Public for and in City of Cebu, Philippines. This ____________
personally appeared:
NAME ID PRESENTED AND ID NO. DATE OF EXPIRY

_______________________________ _____________________ _________________________

_______________________________ _____________________ _________________________

All know to me to be the same person who executed the forgoing instrument consisting of
_________ (_____) pages including this page whereon this acknowledgment is written, duly signed
by the parties, herein with their two instrumental witness on each and every and deed.

Doc. No _________
Page No_________
Book NO.______
Series of 2019 .

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