Lease Contract

LEASE CONTRACT
KNOW ALL MEN BY THESE PRESENTS:
This CONTRACT OF LEASE is made and executed at the City of Valencia, this day of _______________, 20____,
by and between:

ELVIRA B. JIMENEZ, of legal age, married to VIRGIL H. JIMENEZ, Filipino, and with residence and
postal address at Block 19, Lot 5, Phase 2, Sugarland Subdivision, Lumbo Valencia City, Bukidnon,
hereinafter referred to as the LESSOR.

-AND-

MOBASCO COOPERATIVE, duly represented by GLORIEPIN A. PLESING, DENNISON B. NAPARAN
and RAYNOL C. ALQUEZA, all of legal age, and Filipino citizens, hereinafter referred to as the LESSEES.

WITNESSETH; That

WHEREAS, the LESSOR is the owner of THE LEASED PREMISES, a residential compound property situated
at P-1 San Carlos, Valencia City, Bukidnon;

WHEREAS, the LESSOR agrees to lease-out the property to the LESSEES and the LESSEES is willing to lease
the same;

NOW THEREFORE, for and in consideration of the foregoing premises, the LESSOR leases unto the
LESSEESS and the LESSEE hereby accepts from the LESSOR the LEASED premises, subject to the following:

TERMS AND CONDITIONS

1. PURPOSES: That premises hereby leased shall be used exclusively by the LESSEES for official purposes
only and shall not be diverted to other uses. 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 its
other rights under the law. Furthermore, if the LESSEE adds improvements and furnishes the residential
compound space for official purposes, if this contract is no longer in force, the removal of such improvements
shall be borne by the LESSEE.

2. TERM: This term of lease is for FIVE (5) YEARS. from JUNE 8, 2021 to JUNE 8, 2026 inclusive. Upon its
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 seven
(7) 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 FIFTEEN THOUSAND PESOS
(P15,000.00) which shall be due and demandable every 8th of the month. All rental payments shall be payable
to the name of the LESSOR either by check or cash.

4. DEPOSIT: That the LESSEES shall 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 THIRTY THOUSAND PESOS
(P30,000.00) as security to the LESSOR.

5. DEFAULT PAYMENT: In case of default by the LESSEES in the payment of the rent, such as when the
checks are dishonored or the cash was not delivered, the LESSOR at its option may rescind this contract and
eject the LESSEES. The LESSOR has the right to padlock the premises when the LESSEES is in default of
payment for One (1) month and may forfeit whatever rental deposit or advances have been given by the
LESSEES, if any.

6. SUB-LEASE: The LESSEES 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 LESSEESS 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 LESSEES without the LESSOR'S written approval.

7. PUBLIC UTILITIES: The LESSEES shall pay for its telephone, electric, cable TV, water, Internet,
association dues and other public services and utilities during the duration of the lease.

8. 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 LESSEES, then
this lease contract may be terminated without compensation by the LESSOR or by the LESSEE by notice in
writing to the other.

9. LESSOR'S RIGHT OF ENTRY: The LESSOR or its authorized agent shall after giving due notice to the
LESSEES shall have the right to enter the premises in the presence of the LESSEES or its representative at
any reasonable hour to examine the condition of the leased premises from time to time. The LESSOR shall
bear the repair of any damage to the establishment due to normal wear and tear. However, if extraordinary
damages brought about by the negligence of the LESSEES are incurred, the LESSEES shall bear the repair
costs of such. Furthermore, LESSEES shall bear the shape, condition and maintenance of the building or to
exhibit the leased premises to be tenable to prospective LESSEES upon termination of the lease contract, or
for any other lawful purposes which it may deem necessary.

10. EXPIRATION OF LEASE: At the expiration of the term of this lease or cancellation thereof, as herein provided, the
LESSEES will promptly deliver to the LESSOR the leased premises with all corresponding keys and in as good and tenable
condition as the same is now, ordinary wear and tear expected devoid of all occupants, movable furniture, articles and
effects of any kind. Non-compliance with the terms of this clause by the LESSEES will give the LESSOR the right, at the
latter's option, to refuse to accept the delivery of the premises and compel the LESSEES to pay rent therefrom at the same
rate plus Twenty-Five (25) % thereof as penalty until the LESSEES shall have complied with the terms hereof. The same
penalty shall be imposed in case the LESSEES fails to leave the premises after the expiration of this Contract of Lease or
termination for any reason whatsoever.

11. JUDICIAL RELIEF: Should any one of the parties herein be compelled to seek judicial relief against the other, the
losing party shall pay an amount of One Hundred (100) % of the amount claimed in the complaint as attorney's fees which
shall in no case be less than FIFTY THOUSAND PESOS (P50,000.00) in addition to other costs and damages which the
said party may be entitled to under the law.

12. 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.

ELVIRA B. JIMENEZ
LESSOR
I.D. No. 0150
Issued by: LGU Valencia City
DENNISON B. NAPARAN GLORIEPIN A. PLESING RAYNOL C. ALQUEZA

LESSEE LESSEE LESSEE
I.D. No. __________________ I.D. No. ____________________ I.D. No. __________________
Issued by:_________________ Issued by: __________________ Issued by: _________________
Signed in the presence of:
_____________________________ ______________________________
x- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -x
ACKNOWLEDGEMENT

Republic of the Philippines )
Province of Bukidnon ) S.S
City of Valencia

BEFORE ME, a Notary Public of _________________ City, Philippines, this __________________2021, personally appeared the
persons 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 free and voluntary act and deed.
This instrument consisting of 2 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

Doc. No.______;
Page No. ______;
Book No.______;
Series of 20___.

Lease Contract

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LEASE CONTRACT

KNOW ALL MEN BY THESE PRESENTS:

DENNISON B. NAPARAN GLORIEPIN A. PLESING RAYNOL C. ALQUEZA

Signed in the presence of:

_ __

Notary Public

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