LEASE CONTRACT

KNOW ALL MEN BY THESE PRESENTS:

This CONTRACT OF LEASE is made and executed in San Manuel, Province of

Isabela, this 8th day of November, 2021, by and between:

        KIMBERLY ROSE J. FERNANDEZ, of legal age, married to Edward M. Fernandez,

Filipino, and with residence and postal address at District 3, San Manuel, Isabela, hereinafter
referred to as the LESSOR.

-AND-

ALDREN KIM CLIO B. DANCEL, Filipino and with residence and postal address at
Sandiat West, San Manuel, Isabela hereinafter referred to as the LESSEE.

WITNESSETH; That

WHEREAS, the LESSOR is the owner of THE LEASED PREMISES, a commercial

building situated at Santiago-Tuguegarao Road, District 3, San Manuel, Isabela; 

WHEREAS, the LESSOR agrees to lease-out a portion of 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 for
commercial purposes only 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. 

2. TERM: This term of lease is for TWO (2) YEARS. from November 8, 2021 to
November 7, 2023. Upon its expiration, this lease may be renewed under such terms and
conditions as may be mutually agreed upon by both parties, written notice of intention to renew
the lease shall be served to the LESSOR not later than fifteen (15) days prior to the expiry date
of the period herein agreed upon. 

3. RENTAL RATE: The monthly rental rate for the leased premises shall be SEVEN
THOUSAND PESOS (PHP 7,000.00) payable every last day of the month. All rental payments
shall be payable to the LESSOR. 

4. ADVANCE RENTAL: Upon the execution of this Contract, LESSEE agrees to pay in
advance ONE (1) month’s rent which will be applied to the last month of the Lease Term.
 5. DEPOSIT: That the LESSEE shall deposit to the LESSOR upon signing of this
contract and prior to move-in an amount equivalent to the rent for ONE (1) MONTH or the sum
of SEVEN THOUSAND PESOS (PHP 7,000.00), which shall answer partially for damages
resulting from violation(s) of any of the provision of this contract and any other unpaid
obligations such as water and electricity.

6. 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 its 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.

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. PUBLIC UTILITIES: The LESSEE shall pay for its telephone, electric, cable TV,
water, internet and other public services and utilities during the duration of the lease. 

9. 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 in writing to the other.

10. IMPROVEMENTS: The LESSEE shall not make any structural changes,
alterations, additions or improvements on the Leased Properties without the prior written consent
of the LESSOR. Any alterations or improvements made or introduced by the LESSEE on the
Leased Properties with the written consent of the LESSOR shall, upon the termination of this
Lease Agreement, automatically be owned by the LESSOR without any obligation on the part of
the LESSOR to pay or refund its value or cost to the LESSEE.

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

12. EXPIRATION OF LEASE: At the expiration of the term of this lease or

cancellation thereof, as herein provided, the LESSEE will promptly deliver to the LESSOR the
leased premises with all corresponding keys and in as good and tenable condition as the same is
now, ordinary wear and tear expected devoid of all occupants, movable furniture, articles and
effects of any kind. Non-compliance with the terms of this clause by the LESSEE will give the
LESSOR the right, at the latter's option, to refuse to accept the delivery of the premises and
compel the LESSEE to pay rent therefrom at the same rate plus Twenty Percent (20%) thereof as
penalty until the LESSEE shall have complied with the terms hereof.  The same penalty shall be
imposed in case the LESSEE fails to leave the premises after the expiration of this Contract of
Lease or termination for any reason whatsoever.

13. This CONTRACT OF LEASE shall be valid and binding between the parties, their
successors-in-interest and assigns.
 IN WITNESS WHEREOF, parties herein affixed their signatures on the date and place
above written.

 KIMBERLY ROSE J. FERNANDEZ ALDREN KIM CLIO B. DANCEL

LESSOR                                                 LESSEE

Signed in the presence of:

_____________________________                  ______________________________

ACKNOWLEDGEMENT

Republic of the Philippines)

_________________________) S.S

BEFORE ME, personally appeared:

 
Name Identification Date/Place Issued
Kimberly Rose J. Fernandez Driver’s License Exp. Date
B10-11-000787 2023/10/08
Aldren Kim Clio B. Dancel _______________ _______________

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 ____ page/s, 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 sealed with my notarial seal. 

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

                                                                            

Notary Public 

Doc. No.______;
Page No. ______;
Book No.______;
Series of 20___.