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CONTRACT OF LEASE OF COMMERCIAL SPACE

KNOW ALL MEN BY THESE PRESENTS:

This Contract of Lease executed and entered into by and between:

Annabelle L. Guevarra, Filipino, of legal age, married, with residential address at 19


Malagasang 2E, Imus, Cavite,Philippines, hereinafter referred to as the ‘LESSOR’

And

Doroteo I. Bilugan Jr., Filipino, of legal age, single/married, with residence at


_______________________________________, hereinafter referred as the “LESSEE’

TERMS AND CONDITIONS

1. PREMISES - LESSOR hereby leases to LESSEE and LESSEE hereby leases from LESSOR
approximately twelve (12) square meters more or less of total land area, as is improvement,
situated in 19D Malagasang 2E, Imus, Cavite which shall be referred to as the “Premises”.

2. USE OF THE PREMISES - The Lease is for the purpose of operating a commercial or retail
business only which the Lessee is engaged in. The LESSEE, at his own expense may put up
improvements upon prior consultation and written approval of the LESSOR within the
premises hereby leased for the purpose of storage, retail, wholesale and commercial in nature
and not for any purpose whatsoever. It is being expressly agreed that if, at any time during
the existence of this lease and without the previous written consent of the LESSOR, the said
premises are used for the purposes other than what is stated, the LESSOR has the option of
either terminating the lease or collecting increased rental as deemed appropriate from the
date of diversion of use of the premises or to compel the LESSEE to stop the unapproved
activity.

3. TERM OF THE LEASE - The term of this Lease Contract is for a period of One (1)
year(s), renewable for an unspecified duration at terms mutually agreeable to both parties,
commencing on February 13, 2019 and ending at midnight of February 12, 2019, In case of
pre-termination by the lessee, for any reason whatsoever, the LESSOR has the right to collect
any remaining rentals corresponding to the unexpired portion of the LEASE period, or until
such time a new LESSEE comes.

This LEASE shall not be deemed extended or renewed beyond the period time above-
mentioned for any cause or reason whatsoever and unless the parties agree in writing to
extend or renew or enter into a new Contract to Lease upon such terms and conditions
acceptable to them, the possession of the Premises by the LESSEE or any persons claiming
rights through the LESSEE, after the expiration of the term thereof, shall be illegal.

Any renewal or extension of this Contract must be expressly agreed upon by the LESSOR
and LESSEE in writing and under no circumstances can such renewal or extension be
considered as having made impliedly.
For this purpose, the LESSEE shall notify the LESSOR to the latter’s office in writing, of this
intent to renew or extend the Contract at least sixty (60) calendar days prior to the expiration
of the Leased period, or any extension or renewal thereof, provided, however, that the notice
as aforesaid does not in any way vest unto the LESSEE the right to demand for such
extension or renewal of the Lease Period or any renewal or extension thereof.

4. RENT - The monthly rental shall be scheduled as follows. All payments must be made only
through cash. Without necessity of demand, the LESSEE shall pay the monthly rental on or
before the thirteenth (13th) of each calendar month, at the house of
the LESSOR.

a) PENALTIES - Payment made after the said date shall be subject to a penalty charge
of 5% per month.
b) NON-PAYMENTS OF RENTS - Failure of the LESSEE to pay the rentals herein agreed
upon for two (2) consecutive months shall be ground for termination of this Contract of
Lease and upon which the LESSEE obligates itself to vacate and clear the premises in
such tenantable conditions without need of notice from LESSOR.

5. SECURITY DEPOSIT and ADVANCE - upon signing of the Contract of Lease,


the LESSEE shall make a One (1) month deposit and One (1) month advance rental in the
total amount of Eight Thousand Pesos (Php 8,000.00) Philippine Currency for the full and
faithful performance of each and every term, provision, covenant, and condition of this lease,
except that said deposit shall not constitute or substitute payment of any rent,

The deposit, which is non-interest bearing, shall remain intact during the entire term of this
lease and shall not be applied as payment for any monetary obligations of the LESSEE under
this contract, and shall be refunded to the LESSEE upon completion of the lease.

a) The amount deposited shall answer for any unpaid accounts of the LESSEE at the
expiration of the contract as well as for any damages which the LESSOR or any of its
employees, agents or guests might suffer by reason of the wrongful acts or actuation,
negligence, and or malfeasance of the LESSEE. It shall not be applied to pay for the last
months of occupancy of the premises.
b) Any unappropriated amount of such deposit shall be refundable to the LESSEE within
sixty (60) days from the termination of the contract.
c) In the event that the LESSEE terminates its contract before its term expires, the deposit
shall be non-refundable, regardless of the reason for its pre-termination and whether a
sixty-day notice was given or not.

6. SUBLEASE AND OR TRANSFER OF RIGHTS - The LESSEE shall not directly or indirectly
assign, sublease, sell, transfer, convey, mortgage, demolish or in any manner dispose of or
encumber its right under the contract in whole or in part or any interest thereto be conferred
on anyone.

7. RIGHT TO INSPECT LEASED PREMISES - The LESSOR or its authorized agent shall, by
previous notice to the LESSEE, have the right to enter the leased premises at any reasonable
hour of the day to examine the leased premises.

8. CARE OF THE LEASED PREMISES - The LESSEE shall examine the Leased Premises
before taking possession thereof, and LESSEE’s entry into possession shall constitute
conclusive evidence or admission by the LESSEE that as of the date thereof, the said
Premises were in good order and satisfactory tenantable condition. The LESSEE hereby
binds itself to keep and maintain the same in such condition as a prudent person shall do
under the circumstances, ordinary wear and tear expected. The LESSEE shall at its own
expense, improve and maintain the Leased Premises clean and free from rubbish and dirt at
all times, store all trash and garbage in proper containers and not burn any trash and garbage
in or about the Leased Premises or anywhere within the Premises.

9. INTRODUCTION OF PERMANENT IMPROVEMENTS - No permanent or fixed


improvements shall be introduced by the LESSEE on the leased premises unless with prior
written consent and approval of the LESSOR.

10. UTILITIES AND SERVICES - The LESSEE shall be responsible for the installation and
maintenance costs of its own electric current, water and other utility services in the Leased
Premises for the duration of the lease. The LESSEE shall also clear all accounts with all
concerned utility companies upon pre-termination or expiration of contract.

LESSOR: LESSEE:

Signed in the presence of:

WITNESS:

ACKNOWLEDGEMENT

BEFORE ME, a Notary Public for and in the Cities and Province of _______________ this
_______________ at ______________________ personally appeared.

Name ID/Comm. Tax Cert. No Date & Place

Annabelle L. Guevarra
Known to me and to me known to be the same persons who executed the foregoing
Contract of Lease consisting of __ pages including this page of the acknowledgement and they
acknowledge to me that the same is their free and voluntary act and deed.

WITNESS MY HAND AND NOTARIAL SEAL on the date and in the place first above
written.

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