Katrina S.

Diploma

CONTRACT OF LEASE

KNOW ALL MEN BY THESE PRESENTS:

This Contract of Lease made and entered into this 9th day of March, 2016 at
Makati City by and between:

ALYSSA C. SOBERANO, single, of legal age, Filipino with

address at the Joya Loft and Towers, Hidalgo Drive, corner
Estrella Street, Rockwell Center Makati City, hereinafter referred
to as the LESSOR;

- And -

JULIE D. BARRETO, single, of legal age, Filipino, with address

at 107 10th Street, New Manila, hereinafter called the LESSEE;

WITNESSETH:

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

Unit 2716 South Tower, Joya Loft and Towers 28 Plaza Drive, Rockwell Center,
Makati City, covered by CCT No. T-005-204306791 with an area of 200 sq. m.

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 herein below set forth.

NOW, THEREFORE, for and in consideration of the foregoing premises

and the covenants hereinafter stipulated, the parties hereby agree as follows:

TERMS AND CONDITIONS

1. TERM – This lease shall be for a period of one (1) year commencing on
January 10, 2017 and automatically terminating on January 9, 2018 without the
necessity of demand or notice of any kind whatsoever, unless otherwise renewed or
extended in accordance with Section 2 of this Contract.

2. RENEWAL – The term of this contract of lease is renewable for another

term commencing on January 10, 2017 upon sixty (60) days prior written request of
the LESSEE. The parties hereto further agree that such renewal shall be under the
same terms and conditions to as those contained herein, except with respect to the
monthly rental rates, which shall be negotiated by both parties.

3. RENTAL RATE – The LESSEE shall pay to the LESSOR a monthly rent
of TWO HUNDRED FIFTY THOUSAND PESOS (P250,000.00), Philippine
Currency. The LESSEE shall issue nine (9) postdated checks to cover the monthly
rental payment for the first year and every succeeding year. The LESSEE hereby
agrees to pay the LESSOR a penalty of twenty-four (24%) per annum on any rental
not paid on time to be computed from the date of delinquency.

The association dues shall be borne by the LESSEE and not deemed part of
the Rent. Any Withholding Tax, Value Added Tax or other taxes shall be for account
of LESSEE.

4. ADVANCE RENT – Upon signing of this lease contract, the LESSEE

further agrees to pay to the LESSOR, the amount of SEVEN HUNDRED FIFTY
THOUSAND PESOS (P750,000.00) in advance, an equivalent to three (3) months
rental which shall be applied as the payment for the first three (3) months of the lease
period starting January 10, 2017 to April 9, 2017.

5. DEPOSIT – Upon signing of this lease contract, the LESSEE shall further
deposit with the LESSOR, the amount of FIVE HUNDRED THOUSAND PESOS
(P500,000) which is equivalent to two (2) months of rental of the leased premise to
answer for any of its obligations under this contract.

The deposit shall be held by the LESSOR to answer for all charges, bills,
damages, increased in rental rates and other collectibles from the LESSEE which are
outstanding at the end of the term, as well as for the cost of restoring the unit to the
same good, and habitable condition when it was turned over to LESSEE. Any
remainder thereof shall be refundable to the LESSEE after a period of SIXTY (60)
days after full vacancy of the leased premises without interest.

The deposit as provided herein shall in no case be applied as payment for

accruing or accrued rentals. In the event the Deposit is insufficient to answer for the
various liabilities of the LESSEE, the LESSEE shall still be liable for the balance
amount to be settled within 5 days from receipt of such bill.

6. ASSIGNMENT/SUBLEASE – The LESSEE shall not assign nor

transfer its right 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 right,
title or interest thereto or herein shall be conferred on or vested to anyone, other
than the LESSEE, without such written consent.

7. UTILITIES – The LESSEE shall pay all charges on the consumption for
electricity, water, telephone and all other services within the leased premises.

8. IMPROVEMENTS and DETERIORATIONS – The LESSEE shall not

make any major structural alterations, changes or improvements without the written
consent of the LESSOR. Any alterations or improvements made or introduced by the
LESSEE shall, upon termination of this Contract, automatically inure to the benefit
of and become the property of the LESSOR without any obligation on the part of the
LESSOR to refund its value or cost to the LESSEE. The LESSOR may at his option
choose to restore the premise at the expense of LESSEE to its original state sans the
improvement.
 All damages done on the properties during the term of lease, including but not
limited to hole drilling, cracks on the floors, paint marks, etc, shall be made good and
repaired by the LESSEE or done so at his expense prior to full vacancy.

During the term of the lease, LESSEE shall undertake all minor or necessary
repairs at his sole expense. LESSEE shall replace all consumables or accessories in
the leased premise that may be damaged by ordinary wear and tear.

9. 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.

10. USE AND INSPECTION OF PREMISES – The LESSEE shall use the
leased premise exclusively for residence and shall have no right to use for any other
purpose. Neither shall the LESSEE store any flammable or dangerous materials
within the premise or do anything that will cause the increase of insurance premium
or disturb the peace of the neighbors.

The LESSOR reserves the right to enter and inspect the premises at reasonable
times of the day with due notice to LESSEE. The LESSEE likewise agrees to keep
the said premises in good and tenantable condition.

11. THIRD-PARTY LIABILITY – The LESSEE during their occupancy of

the Leased Premises shall hold the LESSOR free and harmless for any damage or
liability or responsibility to any person or property arising out of or as a consequence
of the use of the leased property by the LESSEE, his family members, domestic help
and guests.

12. PRE-TERMINATION/PENALTY – In the event that the LESSEE

wishes to terminate the lease contract and vacate the premises before the expiration of
the term stipulated herein, the LESSEE shall furnish the LESSOR a written notice
sixty (60) days prior to the pre-termination date. In this case all deposit and advances
will be forfeited in favor of the LESSEE.

13. TERMINATION OF LEASE – The LESSEE agrees to return and

peacefully vacate the leased premises at the expiration of the term of this lease
without necessity of demand if the leased premises are not surrendered at the
expiration of the term or upon termination of the lease, the LESSEE agrees to pay a
daily rental equivalent to P 5,000 per day as rent/penalty/damages for such period
that the possession has been withheld.

14. RETURN OF PREMISES – Upon the termination of this Contract for

any reason whatsoever, the LESSEE shall immediately vacate the premises and return
possession thereof to the LESSOR, without need of demand, with all keys pertaining,
in the same clean, good, and tenantable condition in which the LESSEE received
them, devoid of all occupants, furniture, equipment and other movable effects of any
kind.
 If the LESSEE continues the occupation of the premise with the consent of
the LESSOR but without the benefit of a new contract, said extension of lease shall
be understood as running from month to month only, under the same terms and
conditions herein stipulated, and may be terminated by either party by means of a
written notice served upon the other party at least 30 prior to the date of such
termination.

If the LESSEE occupies the premise without the consent of the LESSOR, the
LESSEE agrees to pay a daily rental equivalent to P 5,000 per day as
rent/penalty/damages for such period that the possession has been withheld.

For purposes of this contract, a check list of deliverable items is attached.

These items must be returned together with the premise. The LESSEE further
confirms that the unit was turned over to him newly painted and all facilities are in
good and brand new condition.

15. JUDICIAL RELIEF/LITIGATION – Should the LESSEE violate any

of the provisions of this Contract or if any of the postdated checks issued by the
LESSEE be dishonored for whatsoever reason, the LESSOR, may, at his option,
either pre-terminate the lease or take such steps he deems necessary to compel
LESSEE to comply with this Contract or collect the rent due and any additional cost
incurred, with right to damages in either case.

Should the LESSSOR be compelled to employ a legal counsel to enforce all or

any part of the Contract of Lease, the LESSEE hereby agrees to indemnify the
LESSOR in the sum of TWENTY FIVE PERCENT (25%) of the amount due as
liquidated damages. The LESSEE further agrees that the LESSOR shall be entitled to
recover another TWENTY FIVE PERCENT (25%) of the amount due as Attorney’s
Fees, which in no case should be less than THIRTY THOUSAND (P 30,000) pesos.

16. NON-WAIVER – The failure of the LESSOR to insist upon the strict
performance of any of the terms conditions and covenants hereof shall not be
construed as a waiver or relinquishment of any right or remedy the LESSOR may
have. and shall not be a bar for any action h may take, nor shall it be construed as a
waiver of any subsequent breach or default of this terms, conditions and covenants
hereof, which terms, conditions and covenants shall continue to be in full force and
effect.

Any waiver of the LESSOR’s rights hereunder can only be made in writing,

17. BINDING EFFECT – This contract of lease shall be binding not only
between the parties hereto but also upon their respective successors. The LESSOR
expressly warrants and represents chat in case the leased premises is sold, conveyed
or encumbered to a party other than the LESSEE, it shall make the necessary
provisions to the end that all of the LESSEE’s rights under this contract shall remain
in force.
 IN WITNESS WHEREOF, the parties have hereunto set their hands this 10th
day of December 2016 in Makati City, Philippines.

(sgd.) (sgd.)
ALYSSA C. SOBERANO JULIE D. BARRETO
LESSOR LESSEE

SIGNED IN THE PRESENCE OF:

(sgd.) (sgd.)
YSABELLA C. CANOY ALYSSA P. JAVIER
 ACKNOWLEDGEMENT

REPUBLIC OF THE PHILIPPINES)

MAKATI, CITY)SS.

BEFORE ME a Notary Public, for and in Makati City, Philippines, this 14th
day of March, 2017, personally appeared the following:

Name Government I.D. Date / Place

Number Issued
ALYSSA C. SOBERANO TIN 418-305-360- Metro Manila
000
JULIE D. BARRETO D09-11-006778 Metro Manila

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

This instrument refers to a Contract of Lease of a condominium, consisting of

seven (7) pages including this page on which part of this acknowledgement is written
duly signed by the parties and their witnesses on each and every page, and sealed with
my notarial seal.

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

(sgd.)
KATRINA S. DIPLOMA
Notary Public

Until __________________
PTR No.________________
Issued at ________________
On ____________________

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