CONTRACT OF LEASE

This Contract of Lease is entered into this ___th day of March 2020 in General
Trias City, Philippines, between :

NIELSON G. PANGAN, Filipino, of legal age, single

with address at 748 Greenfield District, Shaw
Boulevard, Mandaluyong City, hereinafter referred
to as the “LESSOR”;

and

RUTH MABAO of legal age, with address in Navotas

City, hereinafter referred to as the LESSEE.

WITNESSETH : that

WHEREAS, the LESSOR is the owner of a 3-bedroom house with floor area of
85 square meters more or less on a 150-square meter lot at Block 7 Lot 2, Somerset
Phase 6, Lancaster New City Cavite, General Trias, Cavite, hereinafter referred to as
the Leased Premises;

WHEREAS, the LESSEE desires to lease the Leased Premises and the LESSOR
is willing to lease the same to the LESSEE, subject to the terms and conditions
hereinafter specified;

NOW, THEREFORE, for and in consideration of the foregoing, the parties

agree as follows:

1) PERIOD – The Lease shall be for a period of one (1) year from _____ 2020 to
________ 2021 with the option to renew. The LESSOR shall signify his intention to
renew this Contract at least thirty (30) days prior to the end of the lease period.

2) MONTHLY RENTAL – The monthly rental of the LEASED PREMISES shall be

TWENTY- FIVE THOUSAND PESOS (Php 25,000.00) exclusive of homeowner’s dues,
and utilities.

3) SECURITY DEPOSIT – Upon signing of this Contract the LESSEE shall deposit the
amount of TWENTY-FIVE THOUSAND PESOS (Php 25,000.00) in favor of the
LESSOR. Said amount shall be applied to any damage to the LEASED PREMISES, any
unpaid utility such as but not limited to water and electricity, for the cleaning of the
unit, if necessary, after LESSEE has vacated the LEASED PREMISES, and the balance,
if any, shall be returned to the LESSEE within sixty (60) from the expiration of this
Contract. The deposit, may not be used as payment for the rent.

5) UTILITIES – With the exception of Internet and Telephone bills which shall be
for the account of the LESSOR, all utility expenses such as electricity and water for
the duration of the lease shall be paid promptly by the LESSEE. In this regard, the
LESSEE hereby guarantees the full payment of all utilities incurred which remains
unpaid after the termination of the Contract of Lease and turnover of the LEASED
PREMISES to the LESSOR.

6) RESIDENTIAL PURPOSE – The Premises shall be used for residential purposes

by the LESSEE only and for no other purpose. The subject premises may not be sub-
leased without the written consent of the LESSOR.

7) QUIET ENJOYMENT WITHOUT INTERRUPTION/SUBSTANTIAL DAMAGE TO

PREMISES – The LESSOR guarantees that the LESSEE shall have quiet possession
and enjoyment of the Leased Premises during the period of tenancy and or any

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renewal thereof, without any interruption by the LESSOR or any person claiming
under or in trust for the LESSEE save as specifically herein provided.

8) SUBSTANTIAL DAMAGE TO PREMISES –In case of damage to the leased

premises or any portion thereof by fire, typhoon, earthquake or any other causes,
the LESSEE shall give immediate notice to the LESSOR. Should the LEASED
PREMISES be damaged by fire, typhoon or earthquake or any other natural
calamities and without the fault or negligence of the LESSEE, members of his
household, agents, employees or visitors, the damage to the Leased Premises shall
be repaired at the expense of the LESSOR after such notice. If, however, the
LEASED PREMISES be so nearly destroyed as to make the same uninhabitable
without the fault or negligence of the LESSEE, members of his family, employees,
agents or guests, either party may demand for the rescission of this Contract of
Lease and in such case, the deposit mentioned above, (after deducting any unpaid
bills for water, electricity, association dues, etc.) and any unused or unapplied
rentals made before termination of this Contract of Lease, shall be returned or
refunded within forty five (45) days to the LESSEE. Nothing in this paragraph shall
exempt the LESSEE from the liability to the LESSOR for damages caused due to the
fault or negligence on the part of the LESSEE, her family, agents, employees or
guests.

9) HOUSE REGULATION- The LESSEE agrees to abide by the existing rules and
regulations of the homeowners association and other laws governing the subject
LEASED PREMISES.

10) FIRE HAZARD AND OBNOXIOUS SUBSTANCE- The LESSEE shall not keep,
deposit or store in the LEASED PREMISES any prohibited drugs and or obnoxious
substance or inflammable materials that might constitute a fire hazard.

11) IMPROVEMENT – The LESSEE shall not make or introduce any major structural
changes, any alterations and any improvements in the LEASED PREMISES without
the written consent of the LESSOR. Any permanent improvements or those
improvements which cannot be removed or detached from the LEASED PREMISES
without defacing or causing damage to the LEASED PREMISES introduced by the
LESSEE in the LEASED PREMISES shall upon the termination of this contract
automatically become the property of the LESSOR without any obligation on the
latter’s part to pay or refund its value or cost to the LESSEE.

12) SANITATION AND REPAIRS – The LESSEE shall keep the LEASED PREMISES in
clean, sanitary and in good condition. The LESSEE has inspected the Leased
Premises and found the same to be in good tenantable condition.

Minor repairs due to the fault or negligence of the LESSEE, members of the latter’s
household or guests, shall be for the LESSEE’S account. For this paragraph, minor
repairs shall cover replacing of light bulbs and fuses, breakage or loss of faucet
handles, drawer or cabinet pulls and catches, keys, locks, toilet seat and water tank
covers, locks and those repairs that do not exceed TEN THOUSAND PESOS
(P10,000.00) at any one instance.

The LESSOR shall be responsible for major repairs on the LEASED PREMISES and on
water, electrical connections caused by ordinary wear and tear, except repairs due
to the fault of the LESSEE, his employees, members of his household, guests or
visitors as the direct result of fault or negligence on the part of the LESSEE.

It is further understood that all repairs to be undertaken by the LESSOR as

stipulated in this Contract shall be attended to immediately and in no case be later
that thirty working (30) days from the time the LESSEE serves notice of such needed
repairs. Should the LESSOR fail to respond after this period, the LESEEE shall have
the right to secure services for the repairs. In such case, the LESSOR agrees to make
direct payments for the cost of the repairs. Conversely, the same provisions shall
apply to repairs assignable to the LESSEE.

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13) PROVISION OF FURNITURE AND APPLIANCES – The LESSOR shall provide
LESSEE with furniture and appliances, equipment and fixtures, which shall form an
integral part of the LEASED PREMISES. The LESSEE hereby agrees that all
equipment and appliances listed under Annex” A” are in good operating condition
and therefore should be returned in good condition to the LESSOR. Regular
maintenance of appliances is for the account of the LESSEE.

14) THIRD PARTY LIABILITY – The LESSEE, during his occupancy of the LEASED
PREMISES, shall hold the LESSOR free and harmless from any damage or liability or
responsibility to any person or property arising out of, or as consequence of the use
of the LEASED PREMISES by fault or negligence of the LESSEE, his employees,
members of his household, guests or visitors. When such damage or liability is
caused by fortuitous events or acts of God such as typhoon, earthquake, flood and
etc, which are beyond the control of the LESSEE, the latter shall not be liable to the
LESSOR or to any other third person.

15) GUARANTEE – This contract of lease may not be terminated during the
duration of the Contract of Lease. In the event, the LESSEE terminates the Contract,
all unused rentals shall be forfeited in favor of the LESSOR.

16) SALE, TRANSFER, and MORTGAGE- In the event of sale, transfer, mortgage or
any other encumbrance of the LEASED PREMISES, or any existing sale, transfer, or
encumbrance of the same, the LESSOR, shall warrant that the purchaser, mortgage
or encumbrance shall respect all the terms and conditions of this lease agreement
including the provision for renewal thereof.

17) RIGHT TO ENTER LEASED PREMISES- The LESSOR reserves the right to
inspect at a reasonable time of the day and after the LESSEE has been previously
notified three (3) days in advance.

18) RETURN OF THE LEASED PREMISES –Upon expiration of the period of this
Contract, the LESSEE shall immediately vacate the LEASED PREMISES and return
possession thereof to the LESSOR, unless LESSOR and LESSEE have agreed in
writing to renew the Contract within sixty (60) days prior to the expiration thereof.
The LESSOR or her representatives may show the premises to other prospective
tenants with prior notice to the LESSEE at least twenty four (24) hours in advance,
unless the LESSOR and the LESSEE have already agreed in writing to renew the
contract within sixty (60) days prior to the expiration of the contract.

19) VIOLATION AND DELINQUENCY – Any violation of the terms provided for in
this contract on the part of the LESSEE or the LESSOR shall be sufficient ground for
the termination of this Contract of Lease by the aggrieved party.

Should the LESSEE become delinquent in the payment of the rental (e.g. bouncing
check) and other charges, the LESSEE will be notified by the LESSOR to secure the
payments within two (2) days that will serve as grace period. Thereafter it is
considered non-payment and the LESSEE hereby appoints the LESSOR as Attorney-
in-fact with full power and authority to secure or otherwise take full and complete
physical possession and control the LEASED PREMISES.

IN WITNESS WHEREOF, the parties hereto have signed this Agreement on

the date and at the place first above-mentioned or written.

___________________________________ __________________________________________
NIELSON PANGAN RUTH MABAO
LESSOR LESSEE

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 Signed in the presence of

___________________________________________ ___________________________________________

ACKNOWLEDGEMENT

REPUBLIC OF THE PHILIPPINES)

____________________ )

Before me at _____________________this ____ day of _________2020 personally appeared the

following persons with their government ID’S:

Valid ID/Passport No Date/Place Issued

______________________ __________________________ _________________________________

______________________ __________________________ _________________________________

all known to be the same persons who executed the foregoing instrument and who
acknowledged to me that the same is their voluntary act and deed.

This Contract of Lease consists of four (4) pages including this page where the
Acknowledgement is written and signed by the parties together with their
instrumental witnesses on each and every page thereof.

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

NOTARY PUBLIC

Doc No.________;
Page No._______;
Book No._______;
Series of 2020

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 Annex “A”

Living Room,
1. 3-seater sofa with throw pillows
2. Narra center table with glass
3. Side table (for telephone and router)
4. Hanging book shelf with décor
5. Floor carpet
6. Devant 43-inch Flat TV
7. Narra TV Console
8. Curtains and decor

Dining Area and Kitchen

1. Mahogany 6-seater dinner table (with glass) set
2. Hanging book shelf with décor and pair of framed paintings
3. 2-door Panasonic Inverter Refrigerator
4. Microwave
5. 4-burner gas cooktop
6. Range hood (chimney type)
7. Kitchen Cabinets
8. Rice cooker
9. Electric fan
10. Lights

Bedroom No. 1 (Master’s Bedroom)

11. Queen-size bed
12. Narra side table with decor
13. 32-inch Smart TV (Hisense brand new)
14. Speakers
15. TV rack
16. Closet
17. Aircon unit
18. electric fan
19. curtains

Bedroom No. 2
20. Single bed
21. Dresser
22. Cabinet
23. Aircon unit
24. electric fan
25. curtains

Bedroom No. 3
26. Single bed
27. study table
28. 28-inch basic TV
29. Office chair
30. Aircon unit
31. Electric fan
32. curtains

Outdoor/Garden/others
33. Narra bench
34. washing machine
35. Shoe cabinet
36. laundry shelves
37. Garden set (table and 3 chairs)
38. Shower and faucets