DEED OF CONDITIONAL SALE

LEASE OF OFFICE SPACE IN A BUILDING

DONATION INTER VIVOS
SPECIAL POWER OF ATTORNEY
RELEASE AND CANCELLATION OF CHATTEL MORTGAGE
Codicil
Lease Contract with Option To Purchase

RENT TO OWN CONTRACT

This Contract of Lease with Option to Purchase (Rent-to-Own Contract) made and
executed this ____of __________ 20___ Manila, Philippines by and between.

__________________________________, Filipino, of legal age, single/married to,

with post address at ________________________, hereinafter referred to as
the LESSOR/SELLER. 

-AND –

            __________________________________, Filipino, of legal age,

single/married to, with postal address __________________________,
hereinafter referred to as the LESSEE/BUYER.

WITNESSETH:

             THAT, for and in consideration of the payment of rent and the faithful
compliance by the LESSEE/BUYER of all the stipulations and covenants hereinafter
contained, the LESSOR/SELLER has agreed to lease unto the LESSE /BUYER the
premises located at _______________________________, City of Manila under
the following terms and conditions.

1. PURPOSE: That the premises hereby leased shall be used exclusively by the

LESSE/BUYER for residential purposes only and shall not be diverted to
other uses. It is hereby expressly agreed upon that if at any time the
premises are used for other purposes, the LESSOR/SELLER shall have the
right to rescind this contract without prejudice to its other rights under the
law.

2. TERM: The term of this non–renewable lease is for ______________

months from _____________________ to ________________ inclusive.

3. RENTAL RATE: The monthly rate for the leased premises shall be in
PESOS:  ______________________ [_______________], Philippine
currency. All rental payments shall be made payable to
______________________.

4. DEPOSIT: That the LESSEE/BUYER shall deposit with the LESSOR/SELLER

upon signing of this contract and prior to move in an amount equal to ten
percent (10%) of the selling price or the sum of PESOS:
_____________________________________________________,Philippine
currency.

5. RENTAL PAYMENT: The LESSE/BUYER shall issue, likewise, upon signing of

this contract and prior to move in, Thirty (30) post-dated checks to cover
 monthly rental for the months of _________________ to
__________________, each check dated on the _____ day of each month.

6. DEFAULT IN PAYMENT: In case of default by the LESSEE/BUYER in the

payment of the rent, such as when the checks are dishonored, the
LESSOR/SELLER, at its option may terminate this contract and eject the
LESSEE/BUYER as hereinafter provided. However, the LESSE/BUYER is given
seven (7) days grace period within which to settle the account from date
rental payment is due. Granting an extension to the aforesaid grace period
may not be deemed as a waiver of LESSOR/SELLER right to terminate this
contract and eject the LESSE/BUYER but in the event the LESSOR/SELLER so
opts to grant a written request for extension, a penalty equivalent to three
(3%) percent per month of the rental due, with a fraction of a month
considered as one month shall be charged and assessed for delayed
payments.

7. SUB–LEASE: The LESSEE/BUYER shall not directly or indirectly

sublet, allow or permitthe leased premises to be occupied in whole or in
part by any person, form or corporation; neither shall the LESSEE/BUYER
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/BUYER without LESSOR/SELLER’s written approval.

8. LESSE’S VISITORS, etc…: In case of damage to leased

premises attributable to the LESSEE/BUYER, agents and/or visitors, repair of
the same shall be for the account of the LESSEE/BUYER without prejudice to
LESSOR/SELLER’s availment of any other right under the law.

9. POWER, WATER CONSUMPTION & ASSOCIATION DUES:  Power, water and

association dues shall be for the account of the LESSEE/BUYER.

10.OTHER PUBLIC UTILITIES: The LESSEE/BUYER shall pay for its telephone,

cable and electrical services and other public services and utilities.

11.REPAIR AND MAINTENANCE: The LESSOR/SELLER shall deliver the leased as

is where is. The LESSEE/BUYER hereby expressly acknowledges that the
leased as is where is. The LESSE/BUYER hereby agrees and binds itself to
undertake at its exclusive expense all minor and major repairs as may be
required to maintain the leased premises in good state of repair, any
provisions of law, present or future, or any stipulation in this agreement to
the contrary notwithstanding.
12.IMPROVEMENTS, ALTERATIONS AND RENOVATIONS: The LESSEE/BUYER
shall not make any improvements, alternations and renovations in the
leased premises without prior written consent of both the Association and
the LESSOR/SELLER. It is understood that all permanent improvements shall
be owned by the LESSOR/SELLER and may not be removed without the
express and written consent of the LESSOR/SELLER.

13.INJURY OR DAMAGE: The LESSEE/BUYER hereby assumes full responsibility

for any damage which may be caused to the person or property of third
person/s while remaining either casually or on business in any part of the
premises leased. LESSEE/BUYER further binds itself to hold the
LESSOR/SELLER harmless and free from any claim for such injury or
damage. Provided, however, that the LESSOR/SELLER shall make necessary
actions to correct said deficiencies to ensure that premises are in good and
tenantable condition.

14.DISTURBANCE OF POSSESSION: Disturbance or discontinuance of

possession of the LESSEE/BUYER due to “force majeure” shall confer nor
right of any kind to the LESSEE/BUYER as against the LESSOR/SELLER, by
reason of inconvenience, annoyance or injury to business arising out of the
necessity of repairing any portion of the leased premises.

15.GOVERNMENT REGULATIONS: The LESSEE/BUYER, shall, at its own expense

and risks, comply with all the laws, ordinances, regulations and orders of
any agency of the government, national or local, affection or pertaining to
the leased premises and to any effects or articles which said LESSEE/BUYER
may have in its possession therein.

16.ABANDONMENT OF PREMISES: Should the LESSEE/BUYER abandon the

leased premises for a period of THIRTY (30) DAYS or vacate the premises
before expiration of this Contract of Lease without notifying the
LESSOR/SELLER and check payment for the current month is dishonored,
the LESSOR/SELLER’S may immediately re-enter the leased premises and
this lease shall thereon be automatically terminated.

17.BREACH OF CONDITIONS: In case of breach by the LESSEE/BUYER of any of

the conditions and covenants of this lease as herein stipulated, the
LESSOR/SELLER at its option, may forthwith terminate and cancel this lease
and the LESSEE/BUYER shall be liable for any and all damages as a result of
such default and termination. Forfeiture of whatever rental desists and
advances shall apply in case the LESSEE/BUYER violates any of the
provisions in the contract. Forfeiture shall likewise apply should the
 LESSEE/BUYER fails to exercise his option to purchase after the expiration of
this contract.

18.NON-WAIVER OF LESSOR’S RIGHT: Failure of the LESSOR/SELLER to enforce

strict performance by the LESSEE/BUYER of any of the terms, conditions
and covenants of this agreement shall not be construed as waiver of any
right or remedy that the LESSOR/SELLER’S may have, nor shall it be deemed
as a waiver of any subsequent breach of the terms, conditions, and
covenants contained therein. No waiver by the LESSOR/SELLER of its rights
hereunder shall be deemed to have been made unless expressed in writing
and signed by the LESSOR/SELLER.

19.EXPIRATION OR CANCELLATION OF LEASE: At the expiration of the term of

this lease or cancellation thereof, as herein provided, the LESSEE/BUYER
will promptly deliver to the LESSOR/SELLER the leased premises with all
corresponding keys and in as good and tenantable condition as the same is
now, ordinary wear and tear excepted, devoid of all occupants, movable
furniture, articles and effects of any kind.  Non-compliance with the terms
of this clause by the LESSEE/BUYER will give the LESSOR/SELLER the right, at
latter’s option, to refuse to accept the delivery of the premises and to
compel the LESSEE/BUYER to pay therefrom at the same rate as herein
provided plus an additional sum equal to Twenty Five (25%) percent
thereof as penalty until the LESSEE/BUYER shall have complied with terms
hereof. The same penalty shall, likewise, be imposed in case the
LESSEE/BUYER shall refuse to leave the leased premises after the expiration
of this Contract of Lease or the termination for any reason whatsoever.

20.OPTION TO PURCHASE: For good & valuable consideration, the receipt

whereof is hereby acknowledge from the LESSEE/BUYER.  The
LESSOR/SELLER hereby extends an option to the LESSEE/BUYER to purchase
for the amount of PESOS:
___________________________________________ [P
th st
__________________] of Lease on the 18 month or the period from 1  to
_____ of __________, _______. The LESSEE/BUYER, at his/her/its exclusive
option, conditioned on faithful compliance with all payments and
undertakings contained herein, may convey his/her/its decision to avail of
option to purchase in writing to the LESSOR/SELLER who thereafter shall
credit all rental payments up to the __________ (___) month and the initial
deposit stated above to down payment.

21.BALANCE AFTER THIS LEASE AGREEMENT: If LESSEE/BUYER complied with

all terms and conditions stated above, inclusive of payment of realty taxes,
 power, water and association dues, the outstanding balance of the
LESSEE/BUYER shall be 70% of the Total Selling Price amount equivalent to
PESOS: _____________________________________
[P_____________], Philippine currency. The LESSEE/BUYER hereby agrees
to execute the Deed of Absolute Sale upon payment in full of the TOTAL
PURCHASE PRICE. Failure of the LESSEE/BUYER to exercise his/its right to
purchase within the period of 30 months from the execution of this
contract shall mean forfeiture and abandonment of his right to purchase. In
such case, all payment made during the term of this lease are considered
rentals.

22.TRANSFER EXPENSES: Documentary stamp tax, capital gain tax, registration

fees, transfer tax, and other necessary expenses connected with the
execution and registration of the sale shall be for the account of and paid
by the LESSEE/BUYER.

23.TAXES, UTILITIES AND OTHER ASSOCIATION IMPOSITIONS: For the

duration of this lease, LESSEE/BUYER shall pay the Realty Taxes. However,
should the LESSEE/BUYER not exercise the option to purchase,
LESSOR/SELLER shall reimburse the LESSEE/BUYER of all the taxes, exclusive
of penalties for delayed payments, if any, it had paid as well as the start-up
fund of the Homeowners Association.

24.JUDICIAL RELIEF AND PENALTY: Should any one of the parties herein be

compelled to seek judicial relief against the other, the losing parties shall
pay an amount equivalent to One Hundred Percent (100%) of the amount
claimed in the compliant as attorney’s fees which shall in no case be less
than P 100,000.00 pesos in addition to other cost and damages which the
said party may be entitled to under the law, to recover from the other
party. Provisions of penal character in this Contract of Lease shall be
considered as cumulative to the relief granted by this section.

25.RIGHTS AND INTERESTS: The rights and interests of the LESSOR/SELLER

subject under this instrument shall be fully assignable by the
LESSOR/SELLER subject only to previous written notice thereof to the
LESSEE/BUYER.

26.FORFEITURE OF DEPOSIT: Forfeiture of whatever rental deposit and

advances shall apply to any of the following:

            a. When the LESSEE/BUYER is in default in payment for three (3) months. In
such a case, the LESSOR/SELLER shall have the right to prohibit entry of the
LESSEE/BUYER, visitors, guests and his employees in the premises and the right to
padlock the leased premises until indebted is satisfied;

            b. When LESSEE/BUYER pre-terminates lease with or without cause;

            c. When LESSEE/BUYER violates any of the provisions of this contract; and

            d. When the LESSEE/BUYER fails to exercise his/her option to purchase.

27.PENAL PROVISION: The parties agree that all covenant and agreements

herein contained shall be deemed conditions as well as covenants that if
default or breach be made of any such covenants and conditions, then this
lease may be terminated and cancelled and the party in breach shall be
liable for any and all damages, actual and consequential, resulting from
such breach or termination; provided however, that no default shall be
declared under this lease unless the party in default has given written
notice to cure such default within thirty (30) days. In the event of violation
of this contract, other than the non-payment of rentals, the party in breach
must immediately take remedial steps to cure the breach not later than
thirty (30) days.

28.RIGHT OF ENTRY: LESSOR/SELLER or its authorized agent/s shall, after

giving due notice to the LESSEE/BUYER, have the right to enter the
premises in the presence of the LESSEE/BUYER or its representative at any
reasonable hour to examine the same or to make repairs therein or for the
operation of regular maintenance of the building or for any other lawful
purpose which it may deem necessary.

This RENT TO OWN CONTRACT (CONTRACT OF LEASE WITH OPTION TO

PURCHASE) shall be valid and binding, between the parties, their successors-in-
interest and assigns. No amendment of the terms of the instrument shall be
effective unless in writing and signed by the parties therein.

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

__________________________                           _______________________

[Name]                                                       [Name]

LESSOR/SELLER                                       LESSEE/BUYER

 
 SIGNED IN THE PRESENCE OF:

__________________________                           _______________________

 ACKNOWLEDGEMENT

Republic of the Philippines)

_________________________) S.S

                        BEFORE ME, a Notary Public, this   _____ day of ____________,

20___ personally appeared the following to witness:

       NAME                             CTC No.            DATE ISSUED        PLACE ISSUED 

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

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

Known to me to be the same persons who have executed the foregoing,

instrument and acknowledged to me that the same is of their own free will and
voluntary act and deed as well as of the corporation herein represented.

This instrument consisting of ______ (__) pages, including the page on which this
acknowledgement is written, has been signed on the left margin of each page and
every page thereof by the parties and their instrumental witnesses and sealed
with my notarial seal.

IN WITNESS WHEREOF, I have hereunto set my hand, the day, year and place
above written.

Doc. No.  ______:

Page No.  ______:

Book No. ______:

Series No 20___.