CONTRACT OF LEASE

KNOW ALL MEN BY THESE PRESENTS:

This Contract of Lease made and executed by and between:

“full name of lessee or lessees”, of legal age, “nationality”, “civil status”, and residing at “complete residential address”, hereinafter known as the LESSEE;

– AND –

“full name of lessor or lessors”, of legal age, “nationality”, “civil status”, and residing at “complete residential address”, hereinafter known as the LESSOR;

WITNESSETH:

WHEREAS, the LESSOR is the absolute owner of a parcel of land with a residential building situated at “complete address of leased premises”, including all other improvements that may be found thereon;

WHEREAS, the LESSEE has offered to lease the said house, and the LESSOR has accepted the offer;

NOW THEREFORE, for and in consideration of the monthly rental to be paid by the LESSEE to the LESSOR, and the mutual terms, covenants, and conditions hereinafter set forth, the LESSEE has agreed to accept, as it hereby accepts by way of this Contract of Lease, the abovementioned property, subject to the following:

That premises hereby leased shall be used exclusively by the LESSEE for “enter purpose of rent or lease” purposes only and shall not be diverted to other uses. 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.

This term of lease is for “number and duration of lease term” from “lease start date” to “lease end date”, inclusive. Upon its expiration, this lease may be renewed under such terms and conditions as may be mutually agreed upon by both parties. Notice of intention to renew the lease shall be served to the LESSOR not later than thirty (30) days prior to the expiry date of the period herein agreed upon. Pre-termination during the agreed lock-in period is prohibited, except as otherwise expressly provided in this Contract.

The monthly rental for the leased premises shall be “monthly rent in words” (“monthly rent in figures”). The rentals shall be due or paid every “rent due day”. All rental payments shall be made payable to the LESSOR. The LESSOR reserves the right to increase the monthly rental rate by “agreed annual increase, if any” per year, as may be deemed appropriate and applicable.

The LESSEE shall upon execution of this contract deposit the amount of “monthly rent in figures” as one (1) month advance to be applied as payment for the first month’s rental. The next rent payment will be due on “next rental due date”, and on the same schedule moving forward. The LESSEE shall likewise deposit an agreed security deposit equivalent to “number of deposit months” rental, or a total of “total security deposit” as security deposit to be REFUNDED upon the termination of this contract. The LESSOR may charge or deduct from said security deposit whatever cost of damages or unpaid bills caused by the LESSEE or its agents.

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, firm, or corporation; neither shall the LESSEE assign its rights hereunder to any other person or entity. No right or interest thereto or therein shall be conferred on or vested in anyone by the LESSEE without the LESSOR’s written approval.

The LESSEE shall secure and pay on its own account the telephone, electric, garbage, cable TV, water, and other similar connections, public services, and utilities during the duration of the lease, and shall comply with all national or municipal laws and ordinances regarding sanitation, public health, and safety in connection with the leased premises. Paid utility receipts shall be submitted monthly through the designated Messenger group chat.

If the 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 or act of God, so as to render the leased premises substantially unfit for the use and occupation of the LESSEE during the term, this lease contract may be terminated without compensation by the LESSOR or the LESSEE by written notice to the other party.

The LESSOR or its authorized agent shall, after giving due notice to the LESSEE, have the right to enter the premises in the presence of the LESSEE or its representative at any reasonable hour to examine the premises, make repairs, conduct building operation and maintenance, perform weekly landscape or plant maintenance, exhibit the leased premises to prospective lessees, or perform any other lawful purpose deemed necessary.

At the expiration of the term of this lease or its cancellation, as provided herein, the LESSEE shall promptly deliver to the LESSOR the leased premises, with all corresponding keys, in as good and tenable condition as it is now, ordinary wear and tear excepted, and free of all occupants, movable furniture, articles, and effects of any kind.

Upon signing of this Contract of Lease, the LESSOR shall deliver to the LESSEE the leased premises free of any occupant. Otherwise, this contract shall cease to be effective.

The LESSOR shall guarantee the peaceful and quiet possession, use, and right of the LESSEE over the leased premises for the duration of the lease.

In like manner, upon termination of the lease, whether voluntary or involuntary, the LESSEE shall automatically deliver the leased premises, without need of demand, to the LESSOR free from any occupant, obstruction, or tangible thing that may limit, deny, or void the free possession and enjoyment of the property by the LESSOR.

The LESSEE shall keep the leased premises in good and sanitary condition. Any improvement introduced by the LESSEE may be removed and appropriated by the LESSEE, provided the removal shall not cause damage to the leased premises. Should any major and permanent improvement be introduced, prior written approval shall be secured from the LESSOR, and the improvement shall, upon termination of this contract, belong to the LESSOR without reimbursement payable to the LESSEE.

Upon termination or expiration of the lease, unless this contract is renewed by the LESSOR, the LESSEE shall immediately vacate and deliver the physical possession of the leased premises, devoid of all occupants, equipment, furniture, articles, merchandise, and other belongings of the LESSEE.

Any person other than the LESSEE and identified occupants shall be prohibited from occupying the leased premises unless otherwise consented to and agreed upon by the LESSOR.

In case the LESSEE terminates the contract prior to the expiration of the lease term, the LESSOR shall forfeit the security deposit given by the LESSEE.

(a) Notwithstanding any other provision in this Agreement to the contrary, the LESSEE shall not be entitled to terminate this Lease during the first twelve (12) months of the Lease Term (the “Lock-in Period”), “lease start date” to “lease end date”, unless due to a material breach of the LESSOR’s obligations under this Lease.

(b) If the LESSEE abandons, surrenders, or terminates the Lease prematurely during the Lock-in Period for any reason other than the LESSOR’s material breach, the LESSEE shall be bound to pay the full rent and any other applicable charges for the unexpired portion of the Lock-in Period.

(c) This payment for the remaining Lock-in Period is agreed upon as liquidated damages to compensate the LESSOR for losses incurred due to premature termination and is not a penalty.

(d) After expiration of the Lock-in Period, the LESSEE may terminate this Lease by providing not less than “required notice period” written notice to the LESSOR.