CONTRACT OF LEASE

Know All Men by These Presents:

This Contract of Lease (the “Contract”) made and executed this

____________________, 2019 in _______________ City, Metro Manila, Philippines, by and
between:

SPS. _____________ and ______________, both of legal age, Filipino citizens, and with ad-
dress at __ Noel St., United Hills Village, Parañaque City, Philippines hereinafter referred to
as the LESSORS;

and

______________________of legal age, single, Filipino citizen, and with ad-

dress_____________________________, _______________________, hereinafter referred
to as FIRST LESSEE;

CASSANDRA CLARK, of legal age, single, Filipino Citizen, and with address at
_____________________, hereinafter referred to as SECOND LESSEE;

__________________, of legal age, single, Filipino Citizen, and with address at

_________________, hereinafter referred to as THIRD LESSEE;

First Lessee, Second Lessee and Third Lessee are hereinafter collectively referred to as the
LESSEES.

Witnessed: THAT

WHEREAS, the LESSORS are the registered, legal and absolute owners of a residen-
tial condominium unit with address at Unit____, __ floor, LA VERTI RESIDENCES, 1834
Donada St., Pasay, Manila City, and with parking slot located at ___ of the same building,
hereinafter referred to as the “LEASED PREMISES.”;

WHEREAS, subject condominium unit is (fully/semi-furnished) with list of items

and furniture pieces and appliances specifically described in attached ANNEX “A” and made
an integral part of this Contract;

Whereas, the LESSEES, who are students of De La Salle University Manila, desire to
lease the above-mentioned Leased Premises while the LESSORS are ready and willing to
lease the same unto the LESSEE;

NOW THEREFORE, for in consideration of the foregoing premises as well as the

covenants and agreements herein contained, the LESSORS hereby lease and let the Leased
Premises unto the LESSEES, and the LESSEES accept the same by way of lease from the
LESSORS, subject to the following terms and conditions:
1. TERM OF LEASE – The lease shall be for a period of one (1) year to start on
_________________ 2022 and end on__________ 2023 and shall automatically ter-
 minate after the latter date. This Contract may be renewable for another year by the
parties hereof subject as may be agreed in writing provided that LESSEES notify
LESSORS within one (1) month before the expiration of the lease.

2. PAYMENT OF LEASE – the LESSEES shall pay the LESSORS a monthly rental of
TWENTY EIGHT THOUSAND PESOS (P28,000) excluding the monthly associa-
tion dues. LESSEES have the obligation to pay the monthly association dues in the
amount of ______________ on a timely manner. Upon signing of this Contract, the
LESSEES shall issue ten (10) post-dated checks to cover the rental of the Second to
the Eleventh month beginning September __ 2022.

3. ADVANCE RENTAL - Upon execution of this Contract, the LESSEES shall pay the
LESSORS TWO (2) MONTHS advance rental in the amount of FIFTY SIX
THOUSAND PESOS (P56,000.00) which shall be applied to the FIRST and LAST
MONTHS of the lease.

4. SECURITY DEPOSIT - Upon execution of this Contract, LESSEES shall pay to the
LESSORS a one (1) month security deposit in the amount of Twenty Eight Thousand
Pesos (P28,000). The Deposit will answer for any of the obligations of the
LESSEES under this Lease Contract and to be returned to the LESSEES no later than
30 days after the termination of this lease, less whatever amounts the LESSEES might
then be owing to the LESSORS. Should LESSEES fail to complete the term of this
lease, or should they surrender or vacate the Leased Premises prior to the expiration
of this Contract, the entire deposit made shall be forfeited in favour of the LESSORS
except when reason for pretermination is due to force majeure or fortuitous events.

5. PURPOSE OF LEASE – The LESSEES expressly agree and warrant that the
LEASED PREMISES shall be used exclusively for dwelling purposes only and fur-
ther warrant that the LEASED PREMISES will not in anyway be used for business or
commercial activities.

6. UTILITIES – During the effectively of this Lease Contract, all bills and expenses
for water, electric, telephone, cable, internet and other public utilities on the Leased
Premises shall be for the sole account of the LESSEES. The LESSORS shall not be li-
able for the failure of the water supply, electric current, telephone, internet and cable
provisions during the effectively of this Contract.

7. SUB-LEASE AND ASSIGNMENTS – The LESSEES shall not sublease or assign

the LEASED PREMISES or any portion thereof, or assign its right under this Con-
tract without prior written consent of the LESSORS. The LESSEES shall neither
sublease nor sublet any part of the Leased Premises nor transfer nor assigns their
rights thereof for any term to any person or entity.

8. FIXED IMPROVEMENTS - The LESSEES shall not make any permanent structural
alterations or improvements in the Leased Premises without the written consent of the
LESSORS. Any major alterations or improvements made or introduced by the
LESSEES with the written consent of the LESSORS, shall, upon the termination of
this Contract, automatically inure to the benefit of the said Leased Premises and be-
come the property of the LESSOR without any obligation on the latter’s part to refund
its value or cost.
9. MOVABLE IMPROVEMENTS – The LESSEES may install movable items such
as washing machine and other movable furnishings, appliances and decorative items
within the Leased Premises. The LESSEES shall take care of the removal of these
items and shall not cause any damage to the Leased Premises; Otherwise, the
LESSOR may charge the cost of any such damage/s to the LESSEEES.

10. SANITATION and REPAIRS. The LESSEES shall keep the Leased Premises in
clean and in sanitary condition, in the manner the premises were turned over at the
start of the lease. The LESSOR shall be responsible for major repairs to be made on
the Leased Premises provided the LESSEES shall notify the LESSOR thirty (3) days
in advance, specifying and describing such major repairs to be made except repairs
that are due to the fault or negligence of the LESSEES, or their agents, guests or visi-
tors. Minor repairs shall be for the account of the LESSEES. For purposes of clarify-
ing this provision, major repairs are those repairs costing P10,000 or more per item of
repair, while minor repairs are those costing below P10,000 per item of repair.

11. INSPECTION OF PREMISES. – The LESSEES shall maintain the Leased

Premises in good and tenantable condition and for such purpose, the LESSORS and/
or their duly authorized representative, reserves the right at reasonable hours of the
day to enter and inspect the Leased Premises and to make the necessary repairs
thereof. The LESSORS, however, must give advance notice to any of the LESSEES
through electronic message or written notice, and the provided any one of the
LESSEES express personal consent before the LESSORS and/or their representative
could enter and inspect.

12. THIRD PARTY LIABILITY – The LESSEES, during their occupancy of the
Leased Premises, shall hold the LESSORS free and harmless from any damage or lia-
bility to any person or property arising out of or as a consequence of acts by the
LESSEES, their agents, employees/domestic helpers, and guests. When such
damage/s are a result of acts of God, such as typhoon, earthquake, flood, and civil dis-
turbance, and other events beyond the control of the LESSEES, the latter shall not be
liable to the LESSORS.

13. LESSORS’ SALE, ENCUMBRANCES OF LEASED PREMISES. In the event of

sale, transfer or mortgage, or any encumbrances of the Leased Premises, the
LESSORS guarantee that all the terms and conditions of this Contract shall be re-
spected. The LESSEES agree to allow the LESSORS or their designated representa-
tive/s to show the LEASED PREMISES to prospective buyers at reasonable hours and
with prior appointment with the LESSEES.

14. RIGHT TO TERMINATE – Should the LESSEES fail to pay the monthly rent on
time or in case of any violation of the terms and conditions stipulated in this Contract,
the LESSORS has the right to terminate this Contract prior to expiration of the term,
by taking either judicial or extrajudicial ejectment. The LESSEES, their agents or all
other persons acting in their behalf shall peacefully vacate the Leased Premises. Oth-
erwise, the LESSORS are hereby given the right to extra-judicially enter into and take
actual possession of the Leased Premises, eject the LESSEES therefrom as well as ex-
ercise their rights of ownership and other rights as provided in this Contract.
 15. RULES & REGULATIONS of the CONDOMINIUM CORPORATION. – The
LESSEES agree to faithfully comply with and abide by the existing or future rules
and regulations of La Verti Residences Condominium Corporation or Association, in-
cluding but not limited to matters relating to security, maintenance, sanitation and oc-
cupancy. Strictly “ NO SMOKING.”

16. RETURN OF PREMISES. Upon termination and/or expiration of this Contract and
no written notice of renewal is received by the LESSORS, the LESSEES shall vacate
the Leased Premises within SEVEN (7) calendar days and return possession thereof
including all the keys to the Leased Premises in good and tenantable condition. It is
also agreed that LESSEES shall present proof of updated/full payments of all utilities
and association dues.

17. RENEWAL. This Contract shall be subject to renewal upon mutual agreement of
the parties. Any one of the LESSEES shall give at least a thirty-da written notice of
LESSEES’ intention to renew or to not renew this Contract.

IN WITNESS WHEREOF, the parties have hereunto affixed their respective signatures on
the day and at the place above first-written.

________________ ______________________
Lessor Lessee

________________ ______________________
Lessor Lessee

__________________________
Lessee

Signed in the presence of:

_____________________ ___________________
Witness Witness

ACKNOWLEDGMENT

Republic of the Philippines)

City of ____________ ) s.s.

Before Me, a Notary Public for and in ______________, this ________ day of
___________________ 2022, personally came and appeared the following persons with their
respective Competent Proofs of Identity, to wit:

Name Competent Proof of Identity Issued on and at

____________________ ________________________ ______________________
____________________. _______________________ _______________________
_____________________. ______________________. _______________________
___________________. _____________________ ______________________
____________________. _________________________ _________________________
known to me and to me known to be the same persons who executed the foregoing instrument
and they acknowledge to me that the same is their free and voluntary act and deed.

Witness my hand and notarial seal on the day and place above first-written.

Doc. No. ________;

Page No. _________;
Book No. ________;
Series of 2022.