CONTRACT OF LEASE

KNOW ALL MEN BY THESE PRESENTS:

This CONTRACT OF LEASE is made and executed at the City of Dumaguete, this ___ day of 20___, by
and between:

_________________________________ of legal age, married, Filipino and

with residence and postal address at
__________________________________________________________,
hereinafter referred to as the LESSOR,

- and –
________________________________________________________________
________________________________________________________________
________________________________________________________________
of legal age, (single/married), Filipino and with residence and postal address at
(Address), hereinafter referred to as the LESSEE.

WITNESSETH; That

WHEREAS, the LESSOR is the owner of a residential property situated at 174 San Jose Extension,
Dumaguete City, hereinafter referred to as the LEASED PREMISES;

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. PURPOSE. LESSEE shall use the LEASED PREMISES exclusively for residential purposes
only and shall not be diverted to other use. 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 other rights under the law.

2. CONDITION OF THE PREMISES. The LESSEE hereby acknowledges to have received the
LEASED PREMISES as-is in a clean, safe, and good working condition. LESSEE must use
customary diligence in maintaining the LEASED PREMISES and hereby expressly agrees to
avoid damaging or littering the common areas.

3. TERM. The term of this Contract of Lease is ONE (1) year from _______________ to
_______________________, unless the LESSOR notifies the LESSEE that the premises shall
be used for whatever purposes, at least TWO (2) months from the date of actual use thereof.
Upon its expiration, this Contract of 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 SEVEN (7) days prior to the expiry date of the period
herein agreed upon.

4. RENTAL RATE. The monthly rental rate for the LEASED PREMISES shall be
_____________________________________(Php _______), payable on or before the _____
day of each calendar month, without need of demand.

a. Advance Rental. Upon the execution of this Contract, LESSEE agrees to pay in advance
the following:
i. Rental fee for one month which shall be considered as payment for the first
month of the Contract;
ii. Two months rental fee which shall be considered as the Security Deposit.

b. Security Deposit. Upon the execution of this Contract, LESSEE agrees to pay a security
deposit in an amount equivalent to TWO (2) months’ rent, as security for the faithful
compliance of the LESSEE of all terms and conditions of this Contract and for the return
of the LEASED PREMISES in good and proper condition, as well as to answer for any
and all repairs, damages, and the maintenance of the LEASED PREMISES. The Security
Deposit cannot be applied by the LESSEE to any unpaid rental(s) or to any other liability
of the LESSEE to the LESSOR. The Security Deposit shall, unless the same is subject to
forfeiture under this Contract, be refunded to the LESSEE, without any interest thereon,

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within sixty (60) days after the expiration of the lease and after the LESSEE has moved
out of and vacated the LEASED PREMISES, whichever is later.

i. DEDUCTIONS TO SECURITY DEPOSIT. The following charges shall be

deducted from the Security Deposit: unpaid utilities; unreimbursed advances;
repairs on damages to the premises caused by negligence, carelessness, accident,
or abuse including stickers, scratches, tears, burns, stains or unapproved holes;
maintenance of the LEASED PREMISES which includes its repainting;
unreturned or lost keys; government fees or fines against LESSOR for
LESSEE’s violation of laws, decrees or ordinances, and any other sums due
under this Contract.

c. Manner of Payment. LESSEE shall deposit the rental fee to LESSOR’s bank account,
without need of demand. Rental fees shall be deposited to:
BDO:
ACCOUNT NUMBER: 00804-0037455
ACCOUNT NAME: Imelda Antonia V. Bobon

5. DEFAULT PAYMENT. In case of default by the LESSEE in the payment of ANY rent due, or
if LESSEE violates or defaults in any of the provisions of this Contract, the LESSOR shall have
the right to terminate this Contract, without prejudice to his right to have the Security Deposit and
all advances made forfeited in his favor.

6. 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.

7. UTILITY SERVICES. All charges for the electricity, water and other utility services to the
LEASED PREMISES shall be for the sole account of the LESSEE. LESSEE shall promptly pay
all utility charges directly to the utility company concerned. The LESSOR will not be liable for
the discontinuance of or interruptions in utility services to the LESSEE due to any cause or
reason whatsoever. LESSOR shall have the right to have the utility services cut off due to
LESSEE’s non-payment.

8. LOSS and FORCE MAJEURE. The LESSOR is not liable to any resident, guest, or occupant
for injury, damage, or loss to person or property from any cause including fire, smoke, rain, flood,
water leaks, lightning, explosions, theft, negligent or intentional acts of residents, guests, or
criminal conduct of other persons including theft, robbery, assault, vandalism or other crimes. If
whole or any part of the LEASED PREMISES shall be destroyed or damaged by reason of
FORCE MAJEURE as to render the LEASED PREMISES during the term of the Contract unfit
for use and occupation, this Contract is deemed terminated without compensation by the
LESSOR or by the LESSEE by notice in writing to the other.

9. ALTERATIONS. The LESSEE expressly agrees not to introduce any improvements or make
alterations in or to the LEASED PREMISES. Any improvements to the LEASED PREMISES
(with or without LESSOR’s consent) shall become property of the LESSOR unless agreed
otherwise in writing.

10. MAINTENANCE, REPAIR and REPLACEMENT. LESSEE shall well and sufficiently
preserve, repair and maintain the LEASED PREMISES in good, clean tenantable condition. The
premises and all additions and installations supplied by LESSOR shall be kept in a good, clean,
working condition. LESSEE shall take all such steps and precautions at his/her own cost to
prevent the Leased Premises from becoming infested with termites, rats, mice, cockroaches or
other pests or vermin. LESSEE must have proper waste disposable containers and labeled
accordingly as biodegradable and non-biodegradable. Bottled containers must not be accumulated
in the LEASED PREMISES. Drainage canals must be kept clean all the time.

Should LESSEE fail to maintain the Leased Premises properly such that the same is
infested with pests, LESSOR may employ pest control services on the Leased Premises and
charge the cost thereof to LESSEE. All minor repairs in the LEASED PREMISES will be at the
LESSEE’s sole expense. Major repairs not caused by or attributable to LESSOR’s fault or
negligence shall be for the LESSEE’s sole account.

11. FLAMMABLE, DANGEROUS MATERIALS. LESSEE shall not keep or have on or around
the LEASED PREMISES any item of a dangerous, flammable or explosive character that might

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unreasonably increase the risk of fire or explosion on or around the LEASED PREMISES or
might be considered hazardous by any responsible insurance company.

12. 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 LEASED PREMISES or to exhibit it to prospective lessee, or
for any other lawful purposes which it may deem necessary.

13. EXPIRATION OF THE CONTRACT. Upon the expiration of the term of the Contract, or
upon the termination of this contract, the LESSEE shall immediately and peacefully return to the
LESSOR the possession of the LEASED PREMISES in as good, clean, sanitary and tenantable
condition as when the LESSEE received it from the LESSOR, reasonable and ordinary wear and
tear excepted, devoid of all occupants, furniture, and personal articles, and effects of any kind.

14. REMEDIES FOR BREACH. 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 immediately repossess the LEASED PREMISES without the necessity or instituting any
judicial or court action. In this connection, the LESSEE hereby names, constitutes, and appoints
the LESSOR, its authorized agents, employees, and/or representatives, as its attorney-in-fact,
with full power and authority, to open, break-open, padlock, enter, occupy, secure the premises,
to clean up, make repairs in, and relet the LEASED PREMISES, remove property left in the
LEASED PREMISES and to take such other steps and employ such other means to enable the
LESSOR to take full and complete physical possession and control of the LEASED PREMISES,
barring the LESSEE from entering it.

The LESSEE hereby expressly stipulates and agrees that any or all acts done or performed by the
LESSOR, its authorized agents, employees and/or representatives under the preceding provision
may not be the subject of any petition for a temporary restraining order or writ of preliminary
injunction or mandatory injunction in court, and that the LESSOR and/or its authorized agents,
employees, or representatives will be free and harmless from any civil and/or criminal liability or
responsibility therefor.

(c) 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;

(d) To automatically forfeit the Security Deposit in its favor.

15. LITIGATION. In the event the LESSOR is compelled to seek judicial relief against the
LESSEE in order to enforce any or all of its rights under this Contract, the LESSEE, in addition
to any other damages that may be awarded by the Court, hereby agrees to pay an amount
equivalent to twenty-five (25%) percent of the amount claimed but in no case less than
P50,000.00, as and by way of attorney’s fees, aside from the costs of litigation, and other
expenses which the law entitles the offended party to recover from the offending party. The
parties hereby agree to submit any action arising from or incident to this Contract to the
jurisdiction of the proper courts of Dumaguete City only, to the exclusion of all other venues.

16. This CONTRACT OF LEASE shall be valid and binding between the parties, their succesors-
in-interest and assigns.

IN WITNESS WHEREOF, parties herein affixed their signatures on the date and place
abovementioned.

_________________________ ________________________
LESSOR LESSEE

Signed in the presence of:

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_________________________ ________________________

ACKNOWLEDGEMENT

BEFORE ME, a Notary Public for and in _____________________, personally came and appeared:

Name CTC No. Date/Place of Issue

known to me and to me known to be the same persons who executed the foregoing Lease Contract and
they acknowledged to me that the same is their free and voluntary act and deed.

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

Notary Public

Doc. No. _________;

Book No. _________;
Page No. _________;
Series of _________.

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