CONTRACT OF LEASE

This Contract of Lease made and entered this __ day of _________________ 20___ (the “Contract”) in
_________________________________, Philippines, by and between:

____________________________________, Filipino, of legal age, and a resident of

_____________________________________________________________________,
hereinafter referred to as the “LESSOR.”

- and -
______________________________________________________________________
______________________________________________________________________
_____________________________________________________________________,
hereinafter referred to as the “LESSEE.”

WITNESSETH: That

WHEREAS, the LESSEE offered to lease, and the LESSOR agreed to lease a ____________________ unit
located at _______________________________________________________________________________,
and hereinafter referred to as the “Unit.”

WHEREAS, for and in consideration of the payment of the amounts herein stipulated and the LESSEE’s
full compliance of all the terms and conditions herein stated, the LESSOR agrees to lease to the LESSEE,
and the LESSEE accepts the lease of the Unit, under the conditions set out below:

1. Period of Lease

The lease of the Unit shall be for a period commencing on _________________ and expiring on
_________________ (the “Lease Period”). The lease shall neither be extended nor renewed beyond
the Lease Period by mere inaction but only by agreement of the parties, in writing.

2. Delivery of Unit

The LESSEE hereby acknowledges: (a) having inspected the Unit to his/her/its satisfaction; and (b)
that the Unit is in good condition, and hereby accepts the Unit on an “as is” condition.

3. Amount of Rent

3.1. For the first year of the Lease Period, the LESSEE shall pay the LESSOR a monthly rental of
___________________________ Pesos in Philippine Currency (Php_________________), which
monthly rental shall be due and payable every end of the month. The Monthly Rental shall be paid
on or before the due date, in cash or dated check, directly to the LESSOR.

4. Security Deposit

4.1. Upon the signing of this Contract, the LESSEE shall pay, in cash, to the LESSOR a security
deposit equivalent to _________________________ rental of the Unit (the “Security Deposit”),
which amount shall be maintained throughout the entire Lease Period.

4.2. The Security Deposit may answer for any unpaid rentals/taxes/fees, as well as the cost of repairs
and/or penalties/damages incurred by the LESSEE.

1
5. Alterations and Improvements

The LESSEE shall NOT make any alterations or improvements to the Unit without the prior express
written consent of the LESSOR. All alterations or improvements to the Unit shall be done in good
workmanlike fashion and at the LESSEE’s cost. Any alterations or improvements that cannot be
removed without damaging the Unit shall, upon the termination of this Contract, automatically
become the property of the LESSOR without any obligation to pay its value or cost to the LESSEE.

6. Use of Unit

6.1. The LESSEE shall use the Unit for legitimate/lawful purposes only. The LESSEE shall NOT:

(a) use the Unit contrary to the Unit’s nature (ex. a commercial unit cannot be used as a residence);
(b) lease/sublease, or in any way, manner or means allow any other person, institution, corporation
or entity to use, utilize, or possess in any manner the Unit, or any part thereof; and

6.2. Repairs/replacements for damages to the fixtures, flooring, plumbing, walls, doors, door-
knobs, lighting, switches, faucets, sinks, or lost keys, et. al., as well as any damage due to the fault
or negligence of the LESSEE, his/her/its immediate family, servants, employees, agents, contractors,
guests, customers, shall be for the LESSEE’s account.

6.3. At all times, the LESSEE shall keep the Unit in good, sanitary and habitable condition.

6.4. All charges for water, electricity, internet access, telephone and other utility services in the Unit
(“Utility Charges”) covering/during the Lease Period shall be for the LESSEE’s account.

7. Inspection of Unit

The LESSOR or his/her its representative shall have the right to enter the Unit: (a) immediately,
either with or without notice, in order to make repairs thereon which are of an urgent nature, or in
case of an emergency; or (b) during reasonable hours, in order to examine the same, or to make
repairs thereon which are not of an urgent nature, or for any lawful and reasonable purpose.

8. Assignment of Lease and Other Rights

The LESSEE accepts/agrees that the LESSOR has the right to: (a) assign, encumber, transfer, or
convey rights over the Unit and/or the building in which it is located, without prior notice to, or
consent of, the LESSEE; (b) rent out any part of the building in which the Unit is located to any kind
of business or establishment; and (c) to establish any kind of business.

9. Return of Unit

The LESSEE shall return the Unit to the LESSOR at the expiration of the Lease Period or termination
of this Contract, together with the keys appertaining thereto, in as good condition as during the
commencement of the lease, without delay, devoid of all occupants.

10. Indemnity

The LESSEE agrees to indemnify and hold harmless the LESSOR, his/her/its officers, agents,
employees or representatives, successors and assigns, from and against all claims, demands,
liabilities, damages, losses, suits, proceedings, judgments, fines, penalties, costs and expenses
arising by reason of, from, or in connection with the lease, use or occupation of the Unit.

2
11. Termination

11.1. Termination by Breach or Default.

If the LESSEE defaults or violates any of the terms and conditions herein or in case of his/her/its
insolvency or imminence thereof, then the LESSOR shall have the right to cancel and terminate this
Contract extra-judicially upon ten (10) days’ written notice to the LESSEE delivered to the Unit, or
posted on its main door. Thereafter, LESSOR may lock the Unit and exclude the LESSEE therefrom.

Where this Contract is cancelled/terminated, by reason of a default or breach committed by the

LESSEE, the LESSEE shall be liable to the LESSOR for the Monthly Rentals corresponding to the
remaining unexpired portion of this Contract as liquidated damages, aside from attorney’s fees,
costs of suit and other damages/expenses the LESSOR is entitled to recover from the LESSEE.

11.2. This Contract is likewise terminated upon the expiration of the Lease Period.

12. Governing Law and Venue

This Contract shall be construed in accordance with and governed in all respects by the laws of the
Philippines. Any action under this instrument may be brought before the proper courts of
_______________________________________, Philippines.

IN WITNESS WHEREOF, the parties hereby affix their respective signatures as of the day and year
first written above, at _______________________________, Philippines.

____________________________ ____________________________
LESSOR LESSEE

Signed in the Presence of:

____________________________ ____________________________

ACKNOWLEDGEMENT

REPUBLIC OF THE PHILIPPINES )

_________________________________ )S.S.

BEFORE ME, a Notary Public in and for ____________________________________, on

______________________, personally appeared:

Name ID No.

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

This instrument refers to a Contract of Lease relating to a property located at______________________

_________________________________________________________________________________________.

3
This Contract of Lease consists of 4 pages, including the page on which this acknowledgement is
written, and is signed by the parties and their witnesses.

IN WITNESS WHEREOF, I have hereunto affixed my signature on the date and year first above written.

NOTARY PUBLIC

Doc. No. _____

Page No. _____
Book No. _____
Series of 20__