LEASE CONTRACT

KNOW ALL MEN BY THESE PRESENTS:

This CONTRACT OF LEASE is made and executed at the City of _____, this day of
_______________, 20____, by and between:

__________________________, of legal age, Filipino, and with residence and postal

address at __________________________________________, hereinafter referred to as
the LESSOR.

-AND-

__________________________, Filipino and with residence and postal address at

______________________________________, hereinafter referred to as the LESSEE.

WITNESSETH; That

WHEREAS, the LESSOR is the owner of THE LEASED PREMISES, a residential property
situated at _____________________________________________;

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. PURPOSES: That premises hereby leased shall be used exclusively by the LESSEE for
residential 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 ONE (1) YEAR. from ____________ to __________inclusive.
Upon its expiration, this lease may be renewed under such terms and conditions as my be
mutually agreed upon by both parties, written notice of intention to renew the lease shall be
served to the LESSOR not later than seven (7) 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 in PESOS: Four
Thousand and Five Hundred (P 4,500.00), Philippine Currency. All rental payments shall be
deposited to the LESSOR’S account provided.

4. 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 THREE (3) MONTHS or the sum of
PESOS: Thirteen Thousand and Five Hundred (P 13,500.00), Philippine Currency. wherein
the two (2) months deposit shall be applied as rent for the 11th and 12th months and the
remaining one (1) month deposit shall answer partially for damages and any other
obligations, for utilities such as Water, Electricity, CATV, Telephone, Association Dues or
resulting from violation(s) of any of the provision of this contract.

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 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.

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

7. 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.

8. 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.

9. 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 Five (25) %
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.

10. JUDICIAL RELIEF: Should any one of the parties herein be compelled to seek judicial
relief against the other, the losing party shall pay an amount of One Hundred (100) % of the
amount clamed in the complaint as attorney's fees which shall in no case be less than
P50,000.00 pesos in addition to other cost and damages which the said party may be
entitled to under the law.

11. CARE OF THE LEASED PREMISES AND REPAIRS: The LESSEE has inspected the
premises leased and found the same to be in good and tenant able condition. The LESSEE
shall, at his expense, maintain the leased premises clean and in sanitary condition, free form
noxious odors and disturbing noises and upon the expiration of lease, shall surrender and
return them in as good condition as the premises were actually found in the beginning of the
lease, ordinary wear and tear excepted. The LESSEE shall not drive nails, screws, books, or
other abutments on the walls, frames, or other portions of the building nor in any manner
deface or damage any part of the premises of the building. Any injury or damage caused or
done by the LESSEE shall be required by him or by the LESSOR at this expense recoverable
on demand.

The lessor shall be responsible for all major repairs on the premises and on the electrical
installation caused by ordinary wear and tear, except repair due to the fault or negligence of
the LESSEE, his staff, guests or visitors. The LESSEE shall be responsible for all minor
repairs. Repair costing PESOS: Two Thousand (2,000) and below shall be considered minor
and shall be for the account of the LESSEE.

The LESSEE shall allow the LESSOR to make repairs in the house or those necessary for the
preservation, conservation, or decoration of the leased premises.

12. RULES, REGULATIONS, ETC: The LESSEE agrees to abide by the existing rules and
regulations promulgated from time to time by the LESSOR and with all duly constituted
authorities of municipal, provincial, or national government arising from or regarding the
use, occupancy and sanitation of the leased premises and to pay pertinent inspection fees
as may be required.

13. EXTRA ELECTRICAL FIXTURES: The installation of additional electric, telephone,

teletype connection in the lease premises shall for the account and the expense of the
LESSEE who is hereby authorized to make or cause to be made, only after obtaining the
written consent and approval from the LESSOR. Such installation should be made in such a
way that no injury or damage shall be caused to the leased premises. In case additional
electrical appliances, such as air-conditioning units, fans, etc. shall be used by the LESSEE
which will necessitate the installation/construction of extra outlets, the LESSEE shall employ
the services of a licensed electrician or otherwise hire the licensed electrician of the LESSOR,
if only so that additional load of current shall be within the capacity of the main switch,
thereby minimizing fire hazards and further comply with the requirements of the fire
department and/or government electrician.

14. THIRD PARTY LIABILITY: The LESSEE during the occupancy of the leased premises
shall hold the LESSOR free and harmless from any damage, liability or responsibility to any
person or property arising out of or is a consequence of the use of the leased premises by
the LESSEE, his agents, employees, guests; when such damages or liability is caused by
fortuitous events or acts of GOD, such as typhoon, earthquake, explosion, and flood, etc.,
which are beyond the control of the LESSOR, the latter shall not be liable.

15. FIRE: In case of damage to the leased premises or its appurtenances by fire,
earthquake, war or any other unforeseen cause, the LESSEE will give immediate notice
thereof to the LESSOR. If the leased premises shall be damaged by fire or other causes
without the fault or negligence of the LESSEE or its agents, clerks or servants, the injury
shall be repaired at the expense of the LESSOR, or as speedily as possible, after such notice;
but if the leased premises be so nearly destroyed as to make it uninhabitable without the
fault or neglect of the LESSEE, either party may demand the rescission of this contract.

No compensation or claim shall be allowed against the LESSOR by the reason of the
inconvenience, annoyance, or injury arising out of necessity of repairing any portion of the
house.

16. INSPECTION OF PREMISE: The LESSOR or its authorized agent shall, by previous
arrangement with the LESSEE, have the right to enter the leased premises for any purpose
which it may deem necessary for the operation or maintenance of the same or its
installations. Moreover, within the last three months of the term of the lease, said LESSOR
may, at its discretion exhibit the leased premises to prospective LESSEES.
17. 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.

___________________________ ____________________________
LESSOR LESSEE

Signed in the presence of:

_____________________________ ______________________________

ACKNOWLEDGEMENT

Republic of the Philippines)

_________________________) S.S

BEFORE ME, personally appeared:

Name CTC Number Date/Place Issued

Lessor:_______________________

Lessee:________________________

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___.