LEASE CONTRACT

KNOW ALL MEN BY THESE PRESENTS:

This CONTRACT OF LEASE is made and executed in Quezon City, this day of JULY 1, 2015 by and
between:

YOLANDA A. PILAR of legal age, widow, Filipino, and with residence and postal address at 13
South Maya Drive, Philam Homes, Quezon City hereinafter referred to as the LESSOR;

with agreement from the following co-owners ( her children), of legal ages, each having 12.5%
interest in the property, hereinafter referred to as CO-LESSORS:
ROBERT VINCENT ARCE PILAR, SINGLE
PETER JOSEF ARCE PILAR MARRIED TO MARIA BELINDA D. PILAR
SUSAN MICHELLE BROWN MARRIED TO RHOCHIE CHRISTOPHER T. BROWN

-AND-
ELSIE C. CASTRENCE, of legal age, married, Filipino, and with residence at 36 South Maya Drive
Philam Homes, Quezon City, hereinafter referred to as the LESSEE;
.
WITNESSETH: That

The LESSORS are the owners of the LEASED PREMISE, residential property situated at 13 South
Maya Drive, Philam Homes, Quezon City;

The LESSORS agree to lease-out first of the two (2) residential properties located in front of the
Pilar family compound at 13 South Maya Drive, Philam Homes, Quezon City to the LESSEE and
the LESSEE is willing to lease the same;

And that in consideration of the foregoing premises, the LESSOR leases to the LESSEE and the
LESSEE accepts from the LESSOR the LEASED premises, subject to the following:

TERMS AND CONDITIONS

1. PURPOSES: The premises leased shall be used exclusively by the LESSEE for residential
purposes only and shall not be diverted for other uses. It is 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. The number of occupants shall be
limited to Five (5) permanent residents. Overnight guest is limited to immediate family and
LESSEE agrees to observe peace and guarantees the good behavior of guests. Pets are not
allowed.

2. TERM: The term of lease is for FOUR (4) YEARS and TWO MONTHS from JULY 1, 2015 to
AUGUST 31, 2019 and for another ONE (1) YEAR from SEPTEMBER 1, 2019 TO AUGUST 31,
2020. AMENDED

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Upon 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 TWO (2) months prior to the expiry date of the period
herein agreed upon.

3. RENTAL RATE: The monthly rental payments for the Leased Premises to include one-half
(1/2) of the Philam Homeowner Association (PHAI) dues shall be TEN THOUSAND AND FIVE
HUNDRED PESOS (P10,500.00) for the months of JULY 2015 and AUGUST 2015 for the period of
THE RENOVATION OF THE LEASED RESIDENCE, and TWENTY THOUSAND AND FIVE HUNDRED
PESOS ( P20,500.00) to include one-half (1/2) of the PHAI dues FOR THE MONTHS OF
SEPTEMBER 2015, OCTOBER 2015, NOVEMBER 2015 and DECEMBER 2015. Beginning
JANUARY 1, 2016, monthly rental payment shall be fixed at TWENTY FIVE THOUSAND AND FIVE
HUNDRED PESOS (P 25,500.00) for the duration of the contract to include one-half (1/2) of the
PHAI dues unless the Association requires that the LESSEE shall pay the current full amount then
this amount will be adjusted accordingly and will comply with the rules and regulations of the
same Association. All rental payments shall be payable every 1st day of the month beginning
JULY 1, 2015 which shall be covered by and issued with two (2) postdated checks for 2015
payable to the LESSOR and (12) postdated checks from SEPTEMBER 1, 2015 to AUGUST 31,
2016 payable to the LESSOR and will be the same for the succeeding years thereafter. At the end
of the 5th year of the Lease Period or SEPTEMBER 1, 2020, the LESSOR may elect to increase the
rent by 10% or whatever the law would allow. AMENDED

4. DEFAULT PAYMENT: In case of default by the LESSEE in the payment of the rent, such as
when checks are dishonored, the LESSOR at its option may terminate this contract 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. In the event the LESSEE fails to pay the agreed rentals
as when they become due as herein stipulated, and/or fails to comply with/or otherwise
violates any of the terms and conditions of this agreement, the LESSOR may at its option,
consider this agreement automatically rescinded and cancelled, in which case the LESSOR or its
representatives may enter, repossess and enjoy the premises as it did before the same to the
LESSEE without prejudice to recover such damages as it may suffer as a consequence of such
default without need of any legal order, including the right to padlock the premises.

5. PRETERMINATION: If for any reason of pretermination by virtue of demise, serious illness

or the like, before AUGUST 31, 2019, the LESSEE or the LESSEE’S Husband or an appointed
representative of the LESSEE is entitled to collect rent from the LESSOR any rental in excess of
TWENTY FIVE THOUSAND PESOS (P25,000.00) per month until AUGUST 31, 2019, if the LESSEE
vacates the premises and LESSOR is able to rent same premises at a higher rental rent. Husband
of the LESSEE, however, can continue to rent the place as per this contract until AUGUST 31,
2020. AUGUST 31, 2019 DATE AMENDED

For vacated periods awaiting tenancy, the above provision regarding excess rent will not apply.

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6. DEPOSIT: The LESSEE, shall deposit the amount of FIFTY THOUSAND PESOS (P50,000.00)
with LESSOR no later than September 1, 2019. DELETED

7. HOLDOVER: Sixty (60) days before the expiration of this Lease, LESSEE will notify LESSORS of
either: (a) LESSEE’S intended date to vacate the premises; or, (b) LESSEE’S intention to renew
the Lease for another period to be mutually agreed upon. If LESSEE elect not to renew the Lease
but continue to occupy the House with LESSORS consent after this Lease ends, this Lease will be
on a month-to-month basis. In that case, either LESSEE or LESSORS can send a notice to the
other and cancel the Lease. LESSEE/LESSORS agree, however, to give LESSEE/LESSORS Sixty (60)
days notice prior to the intended Lease termination date. LESSEE will be liable to pay LESSORS
the rent covering the sixty-day notice period. LESSORS may increase the monthly rent for the
Holdover period or for the renewal period. All other terms of this Lease will remain in effect
unless superseded by a new Lease Contract.

8. 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, firm, or corporation, nor shall the
LESSEE sell, transfer, assign or encumber in any manner his rights under this agreement in favor
of any person or entity without the previous WRITTEN consent of the LESSOR; any such contract
in violation of this clause shall be null and void.

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

10. ALTERATIONS AND IMPROVEMENTS: The LESSEE hereby accepts the Leased Premises as
is, that is to say, in the condition in which it is now found. Any provision of law, present or
future, or any stipulation in this agreement to the contrary notwithstanding, the LESSEE hereby
agrees and binds himself to undertake at his exclusive expense, all repairs, maintain the same in
a good state of repair. It is expressly agreed and understood however, that the LESSEE shall not
start or proceed with any repair work nor in any case introduce improvements nor make any
alterations without the previous WRITTEN consent and approval of the LESSOR; and the parties
hereby agree that upon the expiration of the contract or early termination of the period of this
Lease, all improvements introduced by the LESSEE shall not be removed as said introduced
improvements automatically become property of the LESSOR at no extra cost.

The LESSEE shall at their expense, maintain the Leased Premises in a clean & sanitary condition,
free from noxious odor, disturbing noises and other nuisance or the like. The LESSEE shall
comply with any and all laws, ordinances, regulations or orders of the National and Municipal
authorities arising from or regarding the use, occupation and sanitation of the Leased Premises.
Failure to comply with said laws, ordinances, regulations or orders shall be at the exclusive risk
and expenses of said LESSEE.

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11. 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.

12. LESSEE’S INSURANCE: (If LESSOR decides to insure the House). LESSEE will purchase
insurance coverage against third party liability as well as for loss or damage to LESSEE’S own
property. These coverages are not covered by the LESSOR’S insurance policy. DELETED

13. LESSOR’S RIGHT OF ENTRY: The LESSOR or its authorized agent, shall after giving 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 may deem necessary.

14. 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 as in as good and tenable, as the same as now, ordinary wear and tear
expected, devoid of all occupants, movable furniture, articles and effects of any kind.

15. LIABILITY : The LESSOR shall not be liable for any accidental injuries or personal losses
during period of occupancy.

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.

YOLANDA A. PILAR ELSIE C. CASTRENCE

LESSOR LESSEE

ROBERT VINCENT ARCE PILAR

PETER JOSEF ARCE PILAR

SUSAN MICHELLE PILAR BROWN

CO-LESSORS

SIGNED IN THE PRESENCE OF:

__________________________________ ____________________________________
ACKNOWLEDGEMENT

REPUBLIC OF THE PHILIPPINES )

_________________________ ) S.S.

BEFORE ME, personally appeared :

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 Name Passport Number Date/Place Issued

YOLANDA A. PILAR _____________________ _____________________

ELSIE C. CASTRENCE _____________________ _____________________

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 own free will and voluntary act and deed.

This instrument consisting of 4 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

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