REPUBLIC OF THE PHILIPPINES CAGAYAN STATE UNIVERSITY CARIG, TUGUEGARAO CITY

LEASE CONTRACT

KNOW ALL MEN BY THESE PRESENTS: This CONTRACT OF LEASE is made and executed at the City of Tuguegarao, by and between: CAGAYAN STATE UNIVERSITY CARIG CAMPUS, a state-owned educational institution created and existing by virtue of Philippine laws, with office address at Carig Sur, Tuguegarao City, Cagayan, represented by its Campus Executive Officer, ENGR. ARTHUR G. IBAEZ, hereinafter referred to as the LESSOR. -andALDOFER URBINA, Filipino and with residence and postal address at #53A Caggay Hi-way, Tuguegarao City, herein after referred to as the LESSEE. WITNESSETH; That WHEREAS, the LESSOR is the owner of THE LEASED PREMISES, a portion of lot (space) within the campus. WHEREAS, the LESSOR agrees to lease-out the space to the LESSEE and the LESSEE is willing to lease the same. NOW THEREFORE, for and in consideration of the foregoing premises, the LESSOR leases unto the LESSEE and the LESSEE hereby accepts from the LESSOR the LEASED premises, subject to the following: TERMS AND CONDITIONS 1. TERM: The term of this lease is for ONE (1) MONTH, from December 1, 2013 to December 31, 2013. 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; 2. RENTAL RATE: The monthly rental rate for the leased premises shall be P 4,500.00, Philippine Currency inclusive of the electric consumption. All rental payments shall be payable to the LESSOR at the Cashiers Office on or before the 10th Day of each and every month. It is expressly agreed and understood that the payment of the rental herein stipulated shall be made without the necessity of express demand and without delay on any ground whatsoever; 3. DEPOSIT: Upon the signing of this contract, the LESSEE shall pay by way of deposit unto the LESSOR the sum of P 9,000.00 to answer for payment of rentals in the event that the LESSEE fails to pay the rentals on time and other expenses or charges that the LESSEE may owe in favor of the LESSOR; 4. COMPLIANCE WITH LAWS AND REGULATIONS: The LESSEE shall secure business permit and other required permits to operate and shall promptly present it to the Business Office. Such permit shall be posted in a conspicuous place in the leased premises; 5. USE AND PURPOSE: The LESSE hereby expressly agrees and warrants that the leased premises shall be used by him exclusively for the purpose(s);

6. DEFAULT PAYMENT: In case of default by the LESSEE in the payment of the monthly rental, 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, without prejudice on the part of the said LESSOR to exercise any or all the rights arising from this contract such as forfeiting whatever rental deposit of advances have been given by the LESSEE after satisfying all the unpaid obligations due from the LESSEE; 7. 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 his rights hereunder to any other person or entity and no right of interest thereto or therein shall conferred on or vested in anyone by the LESSE$E without the LESSORs written approval, and such contract made in violation of this clause shall be null and void; 8. INSPECTION OF THE PREMISES: The LESSOR shall have the right to inspect the leased premises at any reasonable hour of the day and to impose proper security, hygiene and sanitation on the leased premises; 9. SUFFICIENCY OF NOTICE TO VACATE: Deposit in the leased premises of a notice to vacate shall constitute due and sufficient notice to the LESSEE. Upon termination of the term of this lease or earlier thereof as above provided, the LESSEE hereby expressly authorizes in advance the LESSOR to enter upon the leased premises, remove all personal property that may be found therein and deposit the same in a bodega. The LESSEE likewise authorizes the LESSOR to demolish the structure built on the leased premises, expenses shall be for the exclusive account of the LESSEE or the LESSEE by himself undertakes to immediately remove or demolish the structure so as to render the leased premises in as good and tenantable condition as when taken; 10. PREVIOUS AGREEMENTS SUPERSEDED: This contract supersedes and renders void and all agreements and understanding, oral and/or written, previously entered into by the parties covering the leased property, and this contract may not hereafter be modified or altered except by another instrument in writing duly signed by the parties hereto; 11. REMEDIAL MEASURE: In case of violation or infringement of any of the foregoing terms and conditions, the LESSOR reserves the right to terminate this contract immediately and the LESSEE agrees to vacate forthwith the premises without the need of a court proceeding. A delay on the part of the LESSOR to proceed against the LESSEE for any violation of any of the terms and conditions of this contact shall not deemed a waiver of any of his rights herein and should any provision of this contract be declared invalid, the remaining provisions shall remain in full force and effect; 12. In the event that the University herein referred to as the LESSOR will be needing the rented space, a one (1) month notice to vacate shall be issued to the LESSEE. IN WITNESS WHEREOF, the parties have hereunto set their hands this ____ day of ________________ at Tuguegarao City, Cagayan.

ENGR. ARTHUR G. IBAEZ, Ph.D. LESSOR Signed in the presence of:

ALDOFER URBINA LESSEE

ACKNOWLEDGEMENT

Republic of the Philippines ) City of Tuguegarao ) Sc. BEFORE ME, a Notary Public for and in the Province of Cagayan, this ______ day of ___________________ 2013 at Tuguegarao City, personally appeared.

NAME ENGR. ARTHUR G. IBAEZ ALDOFER URBINA

ID NO.

ISSUED BY:

_________________ _________________

______________ ______________

Exhibiting to me competent evidence of their identities as above-indicated, represented to me that they voluntarily affixed their signatures on the foregoing deed for the purpose stated thereon, and declared that they executed the same as their free and voluntary act and deed. This deed relates to a lease contract, consists of two (2) pages, including this page, signed by the parties and their instrumental witnesses on each and every page hereof. WITNESS MY HAND AND NOTARIAL SEAL

Doc. No: _______; Page No: _______; Book No; _______; Series of 2013.