CONTRACT OF LEASE OF CONDOMINIUM UNIT

KNOW ALL MEN BY THESE PRESENTS:

This Contract of Lease, made and entered into by and between:

_____________, Filipino, of legal age, married to ___________, and with address

at ____________________________________, Cebu City, (hereinafter referred
to as the "LESSOR");

- and -

__________________, of legal age, Filipino, married, and a resident of Pitogo,

Consolascion, Cebu, Philippines, (hereinafter referred to as the "LESSEE");

WITNESSETH: that -

WHEREAS, the LESSOR is the owner of a condominium unit located at

_________________, covered by Condominium Certificate of Title No. _______, attached as
Annex A:

WHEREAS, the LESSEE desires to occupy the above-named condominium unit and the
LESSOR is willing to lease the same unto the LESSEE, subject to the terms and conditions
hereinbelow set forth.

NOW, THEREFORE, for and in consideration of the foregoing premises and the covenants
hereinafter stipulated, the parties hereby agree as follows:

1. Term: This LEASE shall be for a duration of ONE YEAR commencing from
_____________ and to end on _____________, renewable at the option of the LESSEE
at such new terms and conditions as may agreed upon by the parties.

2. Rental: The LESSEE agrees to pay the LESSOR the monthly rental fee of Pesos:
FIFTEEN THOUSAND PESOS (P15,000), Philippine currency. Upon signing of this
Contract of Lease, the LESSEE shall pay the LESSOR _______________ (_____) months'
rentals in advance to be applied on the last ______________ (_____) months of the term
of this LEASE. The LESSEE shall also issue ____________ (____) post-dated checks
covering the monthly rentals for the duration of this LEASE.

3. Deposit: The LESSEE shall also pay the LESSOR the sum of __________ (_____)
months deposit of Pesos: ____________________ (P___________), Philippine Currency,
to guarantee the payment of any damage to the leased premises, unpaid utilities and other
obligations to third parties by the LESSEE during the term of the agreement, which deposit
shall bear no interest. Unless applied to said damages, unpaid utilities and other obligations
to third parties, said deposit shall be returned to the LESSEE within _________ (_____)
days after the termination of this agreement: Provided, however, that the deposit cannot
be applied to unpaid back rentals owed by the LESSEE prior to the expiration of this
agreement. Furthermore, if the LESSEE vacates the premises before the expiration of the
period of lease, the total amount of the deposit and advance rentals shall be forfeited in
favor of the LESSOR.

4. Association Dues: Association Dues are for the account of the Lessee.

5. Use of the Premises: The premises shall be used exclusively for residential purposes only
of the LESSEE and the immediate members of (his/her) family and shall not in any way be
used for any illegal or unlawful activity or to keep materials, chemicals and other matters
considered as fire hazards or nuisance to the building.
5.1 Condition of the Property. The LESSEE has examined the property and
found it to be in a good condition, suitable for the purpose for which this lease agreement
is executed.

6. Improvements: The LESSEE shall not make any alteration, structural changes or
improvement in the leased premises without the prior written consent of the LESSOR.
However, at the termination of the lease, the same not having been renewed by the parties,
the LESSEE shall restore the leased premises in its original state existing at the
commencement of the agreement. Restoration of the LEASED PREMISES shall be for the

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 exclusive account of the LESSEE. Any improvement after the lease is terminated and after
the LESSEE shall have vacated the premises shall belong to the LESSOR.

7. Facilities: All charges for water, electricity, telephone, association dues and other public
utilities used in the leased premises as well as janitorial and security services or any other
charges as may be imposed by the building administrator of the condominium building shall
be for the account of the LESSEE. The LESSEE hereby guarantees the prompt payment
of any and all charges heretofore mentioned as they fall due. Any delay in the payment
thereof shall constitute a material breach of this agreement.

8. Insurance: The LESSOR shall insure the leased premises against fire. Should the leased
premises be damaged by fire, earthquake, storm or any fortuitous events to the extent that
the same be rendered untenable this agreement shall be automatically canceled and the
deposit as well as the unused portion of the advance rentals be refunded within
________________ (_______) days, minus any unpaid obligation.

9. Repairs: The LESSEE shall, during the duration of the lease, make all minor repairs on
the leased premises to preserve the same in serviceable or tenantable conditions at the
LESSEE's expense except replacement of parts due to natural wear and tear. The
LESSEE, however, shall give advance written notice to the LESSOR of Ten (10) days prior
to undertaking any minor repair. All damages caused to the leased premises due to the
fault, misuse, carelessness, and/or negligence or on account of the use thereof by the
LESSEE and other occupants therein shall be made good and repaired by the repairs
done. Should the LESSEE fail to make the necessary and appropriate repairs within five
(5) days from demand, the LESSOR shall undertake the needed repairs and shall charge
the costs thereof to the LESSEE.

10. Inspection of the Premises: To ensure that the lease premises is being maintained in
good and tenantable conditions, the LESSOR or his authorized representative is hereby
given the right after due notice, to enter and inspect any part of the leased premises during
reasonable hours and as the occasion thereof might require.

11. Assignment and Sub-Lease: The LESSEE hereby shall have no right to assign or transfer
its rights, interest and obligations under the lease contract or sub-lease contract premises
or any portion thereof to any person or entity without the prior written consent of the
LESSOR.

12. Injury or Damage: The LESSEE hereby assumes the full responsibility for any damage
which may be caused to the person or property of any third person in the leased premises
during the duration of the lease. LESSEE further binds himself to hold the LESSOR free
and harmless from damages as a result thereof, unless such damage or liability arose out
of structural or other inherent defects in the leased premises or is due to the fault of the
LESSOR, his agent or representatives.

13. Sale of Leased Premises: The LESSEE recognizes the right of the LESSOR to sell or
otherwise convey ownership of the leased premises to any other interested party, provided
the LESSEE's rights under the lease are respected.

14. Hazardous and Prohibited Materials: The LESSEE shall not keep or store in the lease
premise any hazardous and obnoxious substance or inflammable material or substance
that might constitute a fire hazard or other chemicals and materials or prohibitive drugs in
violations of the laws of the Philippines.

15. Rules and Regulations: The LESSEE binds himself to comply with the existing rules and
regulations promulgated by the building administrator and/or association and any other
environmental or other laws, ordinances, rules and regulations applicable to the leased
premises.

16. Violations: The LESSOR may, at her option, consider this agreement automatically
rescinded and canceled, without need of any court action, upon ten (10) days notice given
to the LESSEE based on any of the following grounds:

a. Failure of the LESSEE to pay two (2) months advance rental and other bills or charges
therefore mentioned as they fall due for any reason whatsoever within the period to
pay.

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 b. For any violation made by the LESSEE or its agents and representatives of any of the
terms and conditions stipulated in this contract.

c. In case the leased premises shall be vacated or abandoned for a period of thirty (30)
days without prior written notice to the LESSOR. Consequently, the LESSOR is hereby
permitted authorized by the LESSEE to enter the premises, either by force or
otherwise, without being liable to prosecution therefor.

Upon termination of the contact of lease based on any of the foregoing grounds and upon
demand, the LESSEE shall immediately vacate and peacefully surrender possession of
the leased premises to the LESSOR or his duly authorize representative.

17. Remedies: In addition to the provisions of the proceeding paragraph, the LESSEE hereby
acknowledges and recognizes the right of the LESSOR to avail or resort to any or all of the
following remedial measures without need of court action:

a. In case of failure of the LESSEE to pay or settle any due and unpaid obligations
(rentals, electricity, water, telephone, association dues etc.) as provided for under this
lease contract , the LESSEE hereby authorizes the LESSOR, who is hereby given the
right, to disconnect all facilities such as but not limited to disconnect all facilities such
as but not limited to electricity, telephone, water in the leased premises without need
of further notice to the LESSEE.

b. Likewise, until the aforesaid unpaid obligations are paid or settled, the LESSEE hereby
given the rights, to re-renter the lease premises, remove all persons therefrom, take
possession of any of all furniture, fixtures and equipment's found thereon or therein
and/or padlocked the door of the premises.

c. Moreover, by way of a security or to secure the payment of any of the unpaid

obligations of the LESSEE , the LESSEE consents and authorizes the LESSOR to
retain possession of any of all the furniture, fixtures and equipment's that may found
on the premises as belongings to the LESSEE until such time that all the unpaid
obligations of the LESSEE are paid or settled.

d. If after ten (10) days from the date the LESSOR shall have taken possession of the
aforesaid furniture, fixtures and equipment by way of security, the LESSEE still fails to
pay or settle its unpaid obligations to the LESSOR the LESSEE hereby consents and
authorizes the LESSOR to sell by way of public auction any or all the furniture's fixtures
equipment as may be sufficient to pay or settle the lessee's unpaid obligations plus the
accrued interests and attorney's fee equivalent to 25% of the total amount due and
unpaid. All expenses that may be incurred in the sale shall be for the account of the
LESSEE.

For purposes of selling the aforesaid properties, the LESSEE hereby irrevocably appoint
the LESSOR as its attorney-in-fact to sell and dispose of any or all of the aforesaid the
property of the LESSEE in a private or public sale at a price as may be determined to be
just and reasonable by the LESSOR and to apply the proceeds therefrom to any or all the
unpaid obligations of the LESSEE.

If the sale proceeds should prove to be inadequate to fully payer settle the unpaid
obligations of the LESSEE, the LESSEE shall remain liable to the LESSOR for any of the
deficiency.

Should the proceeds of the sale of any of the aforesaid properties be sufficient to pay or
settle all of the lessee's unpaid obligations, the LESSEE may get back its other properties
not sold by the LESSOR. If after thirty (30) days from written notice of the LESSOR directed
to the last known address of the LESSEE, the LESSEE still fails to get back the remaining
properties, said properties shall then be deemed abandoned in favor of the LESSOR.

The above enumerated remedies of the LESSOR shall not be exclusive, but shall be
cumulative and without prejudice to any court action that may be instituted by the LESSOR
for any causes of action that may arise under this contract of lease.

18. Attorney's Fee: In case the LESSOR resorts to judicial action base upon or in connection
with this lease contract, the LESSEE hereby agrees to pay attorney's fee equivalent to
SEVENTY-FIVE THOUSAND PESOS (P75,000.00) plus all court expenses and/or costs
of litigation.

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 19. Venue: All court actions from this contact of lease shall be filed only in the proper courts
of Cebu City, Philippines to exclusion of all other courts.

20. Time Essence: Time is the essence hereof any waiver by the LESSOR of a breach of any
term, covenant or condition herein contained, whether express or implied, shall not
constitute of a waiver of any subsequent breach thereof, or a breach of covenant to pay
the rent so accepted. No waiver by the LESSOR shall be deemed to have been made
unless expressed in writing and signed by the LESSOR..

21. Expiration of lease. The lease term shall expire automatically, unless the LESSEE shall
notify the LESSOR in writing of its intention to renew at least sixty (60) days before the
expiration date. The LESSOR has the right to refuse the renewal of the lease agreement.
21.1 Return of the leased premises. The LESSEE shall return the leased
property and all other items turned over to the LESSEE by the LESSOR at the start of this
agreement, in good condition. The items that are turn over are attached hereto as Annex
B. The LESSEE shall be liable to pay the LESSOR for the amount of damage done to the
items that are turned over to her.

22. Pre-Termination. In the event that the LESSEE pre-terminates this lease agreement, the
LESSEE is liable to pay the lessor the remaining portion of the unexpired term of this lease.
In the event that the LESSOR, without just and legal cause, pre-terminates this lease
agreement, the LESSOR is liable to pay the LESSEE the remaining portion of the
unexpired term of this lease, plus the proportional amount of the security deposit, if there
are no applicable deductions.

23. Force Majeure or Fortuitous Events. Both parties are excused from complying with the
terms of this Agreement if events fortuitous events prevent them from doing so for a period
of more than thirty (30) days.

24. Sale, Transfer, and Mortgage. The LESSOR reserves the right to sale, transfer, mortgage
or dispose of the leased property provided that the LESSEE’s right over the leased property
shall be respected during the time of this agreement.

25. No waiver of rights. Failure of the LESSOR to insist the strict performance of any of the
terms of this agreement shall not be construed as abandonment or cancellation or waiver.
No waiver shall be deemed to have been made unless in writing by the LESSOR.

26. Notarial fees. The LESSOR and the LESSEE shall equitably bear the notarial fees for this
document.

IN WITNESS WHEREOF, the parties have hereunto set their hands, this _____________
at _____________, Philippines.

LESSOR LESSEE

SIGNED IN THE PRESENCE OF:

__________________ __________________

ACKNOWLEDGMENT

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REPUBLIC OF THE PHILIPPINES )
City of Cebu ) SS.

BEFORE ME, a Notary Public, this ____________day of ________________, personally

appeared the following:
Name ID Type and Number

Known to me personally and to me known through the competent evidence of identity

presented above, to be the same persons who executed this instrument, which is consisting of
FIVE (5) page/s, including the page on which this acknowledgment is written. Further, that they and
their witnesses have voluntarily signed on the left margin of each and every page thereof, signifying
that they have the authority to do so, and have voluntarily executed this instrument as their free act
and deed.

IN WITNESS WHEREOF, I have hereunto set my hand and seal.

Doc. No. ______

Page No. ______
Book No. ______
Series of 2018.