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Republic of the Philippines)

_______________________) S.S

CONTRACT OF LEASE

KNOW ALL MEN BY THESE PRESENTS:

This CONTRACT OF LEASE is made and executed, by and between:

____________, of legal age, (civil status), Filipino, and a resident of ______, hereinafter
collectively referred to as the “LESSOR”.

-AND-

____________, of legal age, (civil status), Filipino, and a resident of ______, hereinafter
collectively referred to as the “LESSEE”.

WITNESSETH;
That the LESSOR is the owner of a certain parcel of land located in
_____________________, more particularly described as follows:

(description of the property)

1. That the terms of the Contract of Lease shall be for a period of one (1) year starting
____ up to ______, renewable upon agreement of the parties;

2. That the monthly rental fee is______ PESOS (PhP________.00) Philippine Currency;

3. This Contract may be renewed upon agreement of the parties at the end of the term
with 10% escalation on the monthly rental for every year of renewal;

4. The one (1) month advance and one (1) month deposit given by the LESSEE during
the first year of lease shall be retained by the LESSOR;

5. That the monthly payment shall be collected every first day of the month;

6. That electric, water bills and other related services shall be paid by the LESSEE;

7. That any improvement made by the LESSEE shall be on her sole account;

8. That any damages to the leased premises shall be repaired by the LESSEE at her own
expense;

9. That the LESSEE shall not sub-lease the leased premises;

10. That all improvements made by the LESSEE shall not be removed and shall become
the properties of the LESSORS upon the expiration of the contract;

11. That the one (1) month deposit shall be consumed one (1) month prior to the
expiration of the Contract after deducting all monthly dues consumed;

12. That failure by the LESSEE to comply with the terms and conditions stated above
shall be a ground for the termination of the Contract of Lease;
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13. That the LESSEE shall maintain the building and observe clean and sanitary
condition, comply with all health and sanitary rules and regulations existing or may be
promulgated by law;

14. That the LESSOR is not liable to any third party lawsuits that may arise in the
conduct of LESSEE's business and that they will secure all government required permits
in pursuit of operation of business; and

15. That upon the termination of the Contract of Lease, the LESSEE shall surrender
voluntarily the leased premises in good condition to the LESSOR.

IN WITNESS WHEREOF, these present are signed both by the LESSORS and
the LESSEE this _________________ at __________________________.

__________________________ __________________________
LESSOR LESSOR
ID:__________________ ID:__________________

SIGNED IN THE PRESENCE OF:

___________________________ ______________________________

ACKNOWLEDGEMENT

Republic of the Philippines)

________________________) S.S

BEFORE ME, a Notary Public for and in _________________ on ______________,

personally appeared the above-named parties with their valid identification, known to
me and to me known to be the same person/s who executed the foregoing instrument
CONTRACT OF LEASE consisting of two (2) pages and acknowledged to me that the
same is/are their free and voluntary act and deed.
WITNESS MY HAND AND SEAL, on the date and place first above written.
Doc. No.: _____;

Page No.: _____;

Book No.: _____;

Series of 2020.