CONTRACT OF LEASE

KNOW ALL MEN BY THESE PRESENTS:

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

MS. ALMA GENOVA ILDEFONSO, of legal age, Filipino, Married, with residence and postal
address at Block 11 Lot 38, A. Mabini St., Phase I Georgetown Heights Subdivision, Molino IV, City of
Bacoor, Cavite, hereinafter referred to as the LESSOR.

- and-

MS. ESPERANZA GENOVA CELADA, of legal age, Filipino, Married, with residence and postal
address at Block 11 Lot 38, A. Mabini St., Phase I Georgetown Heights Subdivision, Molino IV, City of
Bacoor, Cavite, hereinafter referred to as the LESSEE.

WITNESSETH

WHEREAS, the LESSOR is the absolute owner of the leased premises, Block 24 Lot 24 Phase I
Georgetown Heights Subdivision, Molino IV, City of Bacoor, Cavite, (the “Leased Premises”);

WHEREAS, the LESSOR agrees to lease-out the Leased Premises 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 the Leased Premises shall be used for Residential Purposes only and shall not
be diverted to other uses except when the LESSEE asked permission from the LESSOR to use the
LEASED PREMISES for other legal functions and that the latter agrees thereto. It is hereby
expressly agreed that, if at any time, the premises are used for illegal purposes; the LESSOR shall
have the right to rescind this contract without prejudice to his other rights under the law.

2. TERM. This term of lease shall be for period of ONE (1) YEAR commencing on October 15, 2018
and ending on September 30, 2019. Upon its expiration, this lease may be renewed under such
terms and conditions as may be mutually agreed upon by both parties. Notice of intention to
renew the lease shall be served by the LESSEE to the LESSOR not later than thirty (30) 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: Eight
Thousand Pesos (PHP 8, 000.00), Philippine Currency, with escalation of FIVE PERCENT (5%)
from base monthly rental rate every year in the event of renewal of the Lease. All rental
payments shall be made in cash or check payable every 15th of the Month.

4. ADVANCE. That the LESSEE agrees to pay an advance rental payment for ONE (1) MONTH or the
sum of PESOS: Eight Thousand Pesos (PHP 8, 000.00), Philippine Currency.

5. SECURITY DEPOSIT. That the LESSEE shall pay and deposit to the LESSOR upon signing of this
contract and prior to Move-In an amount equivalent to the rent for TWO (2) MONTHS or the
sum of Sixteen Thousand Pesos (PHP 16, 000.00), Philippine Currency.

a. Wherein, the deposit shall be applied as payment for the security of reservation for the
leased premises and shall not be applied to rental. The same shall be used for the
payment of unpaid utility bills (electricity, water, telephone, internet, cable, etc.) and for
minor repairs at the expiration and/or termination of the contract. Any excess shall be
 refundable to the LESSEE not later than SIXTY (60) DAYS after the expiration of the
contract. Should the deposit not be sufficient to pay the utility bills, the LESSEE shall
have the obligation to pay the same.

b. In the event that the deposit should not be sufficient to pay the utility bills and the
repairs, the LESSOR shall have the right to withhold the release of the LESSEE’s things
and possessions found in the LEASED PREMISES until payment is made by the LESSEE.
Provided that, the LESSOR shall put in storage LESSEE’s things and possessions for a
period of 120 days, thereafter, the LESSOR shall have the sole discretion to do whatever
is deemed proper and convenient with regard to LESSEE’s things.

c. In the event of termination of this contract, the LESSOR has the right to apply the
deposit to any repairs for damages caused by the LESSEE due to the LESSEE’s negligence,
improper use, and/or failure to apply the diligence of a good father of the family in the
care and use of the Leased Premises.

6. PUBLIC UTILITIES. The LESSEE shall pay for electricity, water, telephone, internet, cable and
other public services and utilities pertaining to the Leased Premises during the duration of the
Lease.

7. LIMITATIONS ON USE:

a. LESSEE is strictly prohibited from bringing and maintaining pets within the LEASED
PREMISES.

b. The LEASED PREMISES shall be occupied by only a Maximum of five (5) persons.

8. PENALTY FOR DELAY IN RENTAL PAYMENT. The LESSEE shall be given SEVEN (7) DAYS grace
period (after due date) to settle/pay the rental payment. A penalty of TEN PESOS (PHP 10.00)
per day shall be imposed for every one day delay beyond the grace period.

9. PAYMENT OF MONTHLY DUES. The LESSEE shall be responsible and accountable for the timely
payment of the Association Dues.

10. TERMINATION OF LEASE:

a. The Lease may be terminated at the sole discretion of the LESSOR upon due notice to
the LESSEE upon any grounds; Provided that, the LESSEE be given at least FORTY-FIVE
(45) days notice prior to termination.

b. The LESSOR and the LESSEE may mutually agree, at any time during the lease period, to
terminate the Lease, each releasing and discharging the other of any and all action of
whatever nature, expected, real, or apparent which may arise, connected to or an
incident of the Lease Contract; Provided that, each Party shall comply and fulfill their
respective obligations under the law pertaining to the Lease prior to termination.

c. Any breach or event of default by the LESSOR or the LESSEE of the terms and conditions
of this Contract of Lease and their respective obligations under the law as such LESSOR
or LESSEE shall entitle the other party to terminate the Lease; Provided that failure to
pay rental for TWO (2) CONSECUTIVE MONTHS shall be considered an event of default.

d. The Lease shall be terminated upon the expiration of the Lease period unless renewed
in writing by the Parties.

e. Upon termination of the Lease, the LESSEE shall return the Leased Premises in the same
tenantable condition as he received it, with all the keys thereto, save what has been lost
or impaired by the lapse of time, or by ordinary wear and tear, or from an inevitable
cause.

i. Failure of the LESSEE to return the Leased Premises in the same tenantable
condition as he received it, such as in the event the LESSEE removed fixed
improvements that caused structural alterations to the Leased Premises, shall
 entitle the LESSOR to THIRTY PERCENT (30%) of the total lease contract as
liquidated damages, in addition to such other compensation and damages due
to the LESSOR under the law.

11. ABANDONMENT. The LESSEE shall be deemed to have abandoned the LEASED PREMISES if he
shall fail to pay his utility bills for THREE (3) MONTHS and/or cannot be found on the LEASED
PREMISES for three months without any notice to the LESSOR of his whereabouts. In such case:

a. The Lease shall be deemed automatically terminated without further notice to the
LESSEE.

b. The LESSOR may enter the LEASED PREMISES and put the LESSEE’s things and personal
effects into storage. The LESSOR may apply the deposit to cover for any expenses
needed for the storage of LESSEE’s things and personal effects.

c. The LESSEE may collect his things and personal effects at his own expense with due
notice to the LESSOR.

12. REPAIRS. The LESSOR shall be responsible for all major repairs on the Leased Premises and on
the water, electrical and sewage installations caused by ordinary wear and tear except for
repairs due to the fault, negligence and misuse of the LESSEE, his family, household help,
employee, visitors and guests. Minor repairs/maintenance on the Leased Premises shall be for
the account of the LESSEE. Any repair that will cost FIVE THOUSAND PESOS (PHP 5, 000.00),
Philippine currency, or less for both the labor and materials shall be considered a minor repair, it
being agreed and understood that cost of repair shall not be cumulative and the aforesaid
amount shall pertain to only one particular repair.

a. Damages to the Leased Premises caused by the fault, negligence and misuse of the
Leased Premises by the LESSEE shall be rectified and repaired urgently and without
delay, without prejudice to the right of the LESSOR to terminate the lease and to avail
himself of other remedies under the law.

b. The LESSOR shall be notified immediately of urgent repairs that need to be done to the
Leased Premises. Failure of the LESSEE to immediately notify the LESSOR of such urgent
repairs causing significant damage to the Leased Property shall entitle the LESSOR to
terminate the Lease Contract with immediate effect upon notice to the LESSEE, without
prejudice ice to his other rights under the law.

13. ALTERATIONS, INSTALLATIONS, AND OTHERS. Alterations, installations, additions or

a. Fixed improvements introduced by the LESSEE to the Leased premises shall belong to
the LESSOR upon termination of this contract.

14. 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 his 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.

15. LESSOR’S RIGHT OF ENTRY. The LESSOR or his authorized agent shall, after giving due notice to
the LESSEE, have the right to enter the premises in the presence of the LESSEE or his
representative at any reasonable hour to examine or to exhibit the LEASED PREMISES to a
prospective lessee/buyer or for any other lawful purposes which it may deem necessary.

16. SALE OF THE PROPERTY. The LESSOR reserves the right to sell, or otherwise dispose of the
property, provided that, the LESSEE’s right under this lease is respected at all times. The LESSOR
warrants that in the event of such sale or disposition of the LEASED PREMISES, the buyer shall
be informed of the Lease and the terms and conditions embodied in this Contract of Lease shall
be respected and honored by the new owner.
17. THIRD PARTY LIABILITY. The LESSEE shall hold the LESSOR, during the LESSEE’s use and
occupancy of the LEASED PREMISES, free and harmless from any responsibility, damage or
liability, which may occur to any person, entity or property arising out of or as a consequence of
the use of the LEASED PREMISES by the LESSEE, his agents, employees, domestic help, visitors
and guests either due to fortuitous events like fire, lightning, earthquake, typhoon or flood, or
due to acts of man such as accidents, theft, robbery or vandalism. For this purpose, the LESSEE
shall be solely responsible to secure for himself adequate insurance to answer for whatever may
be lost or damaged due to the events aforementioned.

18. SEVERABILITY. Should any provision of this Contract of Lease be declared null, void or
unenforceable by any competent government agency or court, this shall not affect the other
provisions of this contract which are capable of severance and which will continue unaffected.
The parties agree that any provision declared, null, void or unenforceable by any competent
government agency or court shall be replaced with valid or enforceable provisions as closely
aligned with the original intent of the parties as possible.

19. VENUE OF SUIT. In the event of a suit for enforcement of, or damages for breach or violation of,
this Contract of Lease, the parties agree that the proper courts shall be the courts of City of
Bacoor, Cavite, to the exclusion of all other courts.

20. 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 at City of Bacoor,
Cavite.

ALMA GENOVA ILDEFONSO ESPERANZA GENOVA CELADA

SIGNED IN THE PRESENCE OF:

Republic of the Philippines )

ACKNOWLEDGMENT

BEFORE ME, a Notary Public for and in City of Bacoor and the Province of Cavite, Philippines this
personally appeared:

NAME GOV’T ID. NO./COMM. TAX CERT# DATE/PLACE ISSUED

ALMA GENOVA ILDEFONSO

ESPERANZA GENOVA CELADA

All known to me and known to be the same persons who executed the foregoing Contract of Lease and
acknowledged to me that the same is their free and voluntary act and deed. This instrument consisting
of five (5) page/s, including the page on which this acknowledgment is written, has been signed 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.

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Series of 2018