LEASE CONTRACT

KNOW ALL MEN BY THESE PRESENTS:

This CONTRACT OF LEASE is made and executed at the City of Cebu, this day of OCTOBER 10,2021, by
and between:

Alex A. Sing of legal age, married, Filipino, and with residence and postal address at Alfonso
Arcilla St. Talamban Cebu City, hereinafter referred to as the LESSOR.

-AND-

ANTHONY S. ARGANDA, Filipino and with residence and postal address at 2ND FLR CALIBARA
APT. 27 MANALILI ST. CENTRAL SIGNAL TAGUIG CITY, hereinafter referred to as the LESSEE.

WITNESSETH; That

WHEREAS, the LESSOR is the owner of THE LEASED PREMISES, a property situated at UNIT 106
ANTONIO’S PLACE A. BORBAJO ST TALAMBAN CEBU CITY;

WHEREAS, the LESSOR agrees to lease-out the property 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. PURPOSES: That premises hereby leased shall be used exclusively by the LESSEE for residential
purposes only and shall not be diverted to other uses. It is hereby expressly agreed that if at any
time the premises are used for other purposes, the LESSOR shall have the right to rescind
this contract without prejudice to its other rights under the law.

2. TERM: This term of lease is for ONE (1) YEAR from OCTOBER 10,2021 to OCTOBER 10,2022
inclusive. Upon its expiration, this lease may be renewed under such terms and conditions as my 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.

3. RENTAL RATE: The monthly rental rate for the leased premises shall be in PESOS: SIX
THOUSAND FIVE HUNDRED, Philippine Currency. All rental payments shall be payable to the
LESSOR.

4. DEPOSIT: That the LESSEE shall deposit to the LESSOR upon signing of this contract and prior to
move-in an amount equivalent to the rent for TWO (2) MONTHS or the sum of PESOS: THIRTEEN
THOUSAND, Philippine Currency. Wherein the one (1) month deposit shall be applied as rent for the
12th months and the remaining one (1) month deposit shall answer partially for damages and any
other obligations, for utilities such as Water, Electricity, CATV, Telephone, Association Dues or resulting
from violation(s) of any of the provision of this contract.

5. DEFAULT PAYMENT: In case of default by the LESSEE in the payment of the rent, such as when
the checks are dishonored, 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 and may forfeit whatever rental deposit or advances have been given by the LESSEE.

6. 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
its rights hereunder to any other person or entity and no right of interest thereto or therein shall be
conferred on or vested in anyone by the LESSEE without the LESSOR'S written approval.

7. PUBLIC UTILITIES: The LESSEE shall pay for its telephone, electric, cable TV, water, Internet,
association dues and other public services and utilities during the duration of the lease.

8. PETS: No pets are allowed on the lease premises or any part of the property.

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. LESSOR'S RIGHT OF ENTRY: The LESSOR or its authorized agent shall after giving due notice
to the LESSEE shall have the right to enter the premises in the presence of the LESSEE or its
representative at any reasonable hour to examine the same or make repairs therein or for the
operation and maintenance of the building or to exhibit the leased premises to prospective LESSEE, or
for any other lawful purposes which it may deem necessary.
11. EXPIRATION OF LEASE: At the expiration of the term of this lease or cancellation thereof, as
herein provided, the LESSEE will promptly deliver to the LESSOR the leased premises with all
corresponding keys and in as good and tenable condition as the same is now, ordinary wear and
tear expected devoid of all occupants, movable furniture, articles and effects of any kind. Non-
compliance with the terms of this clause by the LESSEE will give the LESSOR the right, at the latter's
option, to refuse to accept the delivery of the premises and compel the LESSEE to pay rent therefrom
at the same rate plus Twenty Five (25) % thereof as penalty until the LESSEE shall have complied with
the terms hereof. The same penalty shall be imposed in case the LESSEE fails to leave the premises
after the expiration of this Contract of Lease or termination for any reason whatsoever.

12. JUDICIAL RELIEF: Should any one of the parties herein be compelled to seek judicial relief
against the other, the losing party shall pay an amount of One Hundred (100) % of the amount clamed
in the complaint as attorney's fees which shall in no case be less than P50, 000.00 pesos in addition to
other cost and damages which the said party may be entitled to under the law.

13. This CONTRACT OF LEASE shall be valid and binding between the parties, their successors-in-
interest and assigns.

IN WITNESS WHEREOF, parties herein affixed their signatures on the date and place above written.

ALEX A. SING ANTHONY S. ARGANDA

Signed in the presence of:

_____________________________ ______________________________

ACKNOWLEDGEMENT

Republic of the Philippines)

BEFORE ME, personally appeared:

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 consisting of ____ page/s, including the page on which this acknowledgement is
written, has been signed on each and every page thereof by the concerned parties and their
witnesses, and sealed with my notarial seal.

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

Notary Public

Doc. No.______;
Page No. ______;
Book No.______;
Series of 20___.