LEASE CONTRACT

 KNOW ALL MEN BY THESE PRESENTS:

 This CONTRACT OF LEASE is made and executed at the City of Caloocan, this day of _______________, 20__, by and
between:

        _________________, Filipino, with residence address at ________________________, hereinafter referred to as the

- And -

__________________________, Filipino and with residence and postal address at _____________________________,

WITNESSETH: That

WHEREAS, the LESSOR is the owner of an commercial space (hereinafter referred to as the “Building”) located at
the _______________________________; WHEREAS, the LESSEE desires to lease, and the LESSOR has agreed to grant the
LESSEE a lease, on a certain area in the building subject to the terms and conditions of this Contract;

NOW THEREFORE, the parties agree as follows:

 
TERMS AND CONDITIONS 

1. PURPOSES:   That premises hereby leased shall be used exclusively by the LESSEE for commercial 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.

 2. TERM:  This term of lease is for ONE (1) Year from _________________to _________________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/ ADVANCE RENTAL PAYMENT:   The monthly rental rate for the leased premises shall be in PESOS:
____________________________ (Php ________.00), Philippine Currency and DOES NOT include:
Water
Electricity
Telephone/Internet

One month Advance payment is required before move-in.

Rental payments shall be payable to the LESSOR.

4. SECURITY DEPOSIT:   That the LESSEE 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 TWENTY THOUSAND PESOS (P 20,000.00), Philippine
Currency.  Wherein THE TWO (2) MONTHS DEPOSIT shall be applied as a rent for the 12th month and the remaining one (1)
month deposit shall answer the partially for the damages and any other obligations, for utilities such as Water, Electricity
and/or damage of property resulting from violations of any of the provision of this contract.

5. DEFAULT PAYMENT:  In case of default by the LESSEE in the payment of the rent, he/she will be given TWO (2) WEEKS
only Verbal notice. If after this notice and did not comply with the payment, the LESSOR at its option may terminate this
contract and eject the LESSEE. The LESSOR has the right to padlock the premises 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.

 6. 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 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 LESSEE without the
LESSOR'S written approval.

7. ALTERATIONS, ADDITIONS, IMPROVEMENTS - The LESSEE shall not make any alterations, additions or

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improvements without the prior written consent of the LESSOR, which shall not be unreasonably withheld; Provided
however, that all such alterations, additions or improvements made by either party in or upon the leased premises, except the
movable furniture and fixtures put in at the expense of the LESSEE and removable without defacing or impairing the
property of the LESSOR, shall remain upon and be surrendered with the premises as part thereof upon termination of this
lease without compensation to the LESSEE.”

8. CARE OF THE LEASED PREMISES - The LESSEE shall, at his expense, maintain the leased premises in a clean and
sanitary condition, free from noxious odors, disturbing noises or other nuisances and, upon the expiration of the lease, shall
return the premises and fixtures in as good condition as that in which they were actually found at the beginning of the lease,
ordinary wear and tear excepted.

The LESSOR shall be responsible for major repairs which are limited to those which affect the structure of the leased
premises or the building. The LESSEE shall allow access to the LESSOR on the premises for the purposes of repair or
remodeling or such other works as may be necessary for the preservation, conservation, improvement or decoration of the
building or any part thereof. No compensation or claims shall be allowed against the LESSOR by reason of any
inconvenience or annoyance to the LESSEE that may arise by reason thereof.

9. ABANDONMENT OF LEASED PREMISES - If the LESSEE shall abandon or vacate the premises or if the premises
should remain unoccupied for a continuous period of exceeding thirty-one (31) days at any time during the term of this lease
and fails to pay the corresponding rent, LESSOR may lease out the premises to other persons or entities, and
the LESSEE shall continue to be liable for the regular monthly rent until such time that the LESSOR finds a
new LESSEE for the leased premises. The LESSOR shall also forfeit in its favor the deposit made by way of
damages. LESSEE hereby expressly appoints LESSOR or its duly authorized representative as attorney-in-fact, with full
power and authority to padlock, break open, if necessary, enter the premises, inventory the LESSEE’s properties and have
them deposited elsewhere. Furthermore, the LESSOR shall have the right to retain the said properties as security for the
payment of LESSEE’s obligations under this Contract, which properties, the LESSOR may, as LESSEE’s duly constituted
attorney-in-fact, dispose said properties and the proceeds thereof applied to satisfy LESSEE’s unpaid obligations without
prejudice to any action as may be appropriate for the recovery of any deficiency.

10. SUBLEASE, TRANSFER OF RIGHTS - The LESSEE shall not assign or transfer its rights in this Contract nor
sublease or sublet all or any part of the leased premises, without the prior written consent of the LESSOR and no rights, title
or interest thereto or therein shall be conferred on or vested to anyone other than the LESSEE without such prior written
consent

It is expressly understood that the LESSEE has no goodwill or patronage rights over the leased premises; that such
rights belong exclusively to the LESSOR, being the owner of the leased premises, which forms part of the building; and that
the LESSEE may not sell or dispose of said goodwill or patronage rights to any person.

11. PUBLIC UTILITIES:   The LESSOR shall pay for its telephone, electric, water, Internet, association dues and other public
services and utilities during the duration of one (1) year lease. 

12. 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.

13. LESSOR'S RIGHT OF ENTRY:   The LESSOR or its authorized agent shall after give due 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 it 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 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 LESSEE will give the LESSOR the right, at the latter's
option, to refuse to accept the delivery of the premises and compel the LESSEE to pay rent therefrom at the same rate plus
Twenty Five (25) % thereof as penalty until the LESSEE shall have complied with the terms hereof.  The same penalty shall
be imposed in case the LESSEE fails to leave the premises after the expiration of this Contract of Lease or termination for
any reason whatsoever.

15. 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 clamed in the complaint as attorney's fees which shall in
no case be less than P50,000.00 pesos in addition to other cost and damages which the said party may be entitled to under
the law.

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 16. 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.

LESSOR LESSEE

__________________________ ___________________________

___________________________ ___________________________

SIGNED IN THE PRESENCE OF:

__________________________ ____________________________
 

ACKNOWLEDGEMENT

Republic of the Philippines

____________________

Before me, this__ day of _______________________, 20___

NAME VALID IDENTIFICATION DATE & PLACE OF ISSUE

Known to me and to me known to be the same person who executed the foregoing CONTACT OF LEASE, consisting
of _________________(___) pages including this page and attachment/s and they acknowledge to me that the same is their
free and voluntary act and deed as well as that of the corporation herein represented.

IN WITNESS WHEREOF, I have hereunto signed and sealed these presents at the place and on the date above written.

Doc. No:
Page No:
Book No:
Series of 20__

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 Schedule 1

Location   : ___________________________________

Leased Premises   :     Commercial Space

Gross Area   :     ______ square meters

Usage   :     Office | Store | Storage | ______________________

Term : One (1) year

Amount of Monthly Rent : Php__________

HOA Dues / Garbage : Lessee’s account

VAT : Lessee’s account

Escalation Rate : Ten (10%) percent

Security Deposit : Equivalent to Two (2) Months Rental

Alteration/ Improvements : Lessee’s account

Lease Commencement Date : ______________, 2022

Lease Expiry Date : ______________, 2023

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