CONTRACT OF LEASE

KNOW ALL MEN BY THESE PRESENTS:

This CONTRACT OF LEASE made and entered into this 28th day of July 2019
at Baguio City, Philippines by and between:

_____________________ of legal age, Filipino citizen, with postal address

at __________________ BAGUIO CITY PHILIPPINES 2600, hereinafter
referred to as the LESSOR.

-And-

______________________ of legal age, single, Filipino citizen, with postal

address at _____________________________ BAGUIO CITY PHILIPPINES
2600 hereinafter referred to as the LESSEE.

WITNESSETH:

WHEREAS, the LESSOR is the absolute and registered owner of a

Two Bedroom condominium unit known as _______________________
with an approximate area of Forty eight square meters (48.00 sq. m.);

WHEREAS, The LESSEE is desirous of leasing, and the LESSOR does

hereby lease, unto the LESSEE that Two Bedroom condominium unit above-
mentioned;

NOWTHEREFORE, for and in consideration of the foregoing premises

the LESSOR does hereby let the lease unto the LESSEE, of the above-
mentioned property and the LESSEE does hereby accept the lease from the
LESSOR, subject to the following terms and conditions:

1. The LESSOR hereby delivers to the LESSEE in good, clean and

tenantable condition and LESSEE accepts the Leased Premises.

2. TERMS. The terms of this lease shall be for a period of TWELVE (12)
months, starting from JULY 29, 2019 to JULY 28, 2020, the same way
may be renewed upon its expiration, upon mutual agreement of the
parties. If the parties fail to agree on the terms and conditions of the
renewal, this shall terminate on the expiry date without the need for
any notice.

3. RENTAL RATES. The parties herein agree that the monthly rental of
the leased premises shall be TWENTY THOUSAND PESOS
(Php20,000.00), Philippine Currency inclusive of condominium
association dues. The first Php20,000.00 monthly rental should be paid
before actual turnover of unit while the succeeding monthly rentals
shall be paid every 29th day of the month starting AUGUST 2019 until
JULY 2020.

4. DEPOSIT. The LESSEE shall tender a deposit of TWENTY THOUSAND

PESOS (Php20,000.00), Philippine currency upon the execution of this
contract to be held by the LESSOR as guarantee to secure the
fulfillment by the LESSEE of the conditions stipulated in this contract
which however, shall be refunded without interest to the LESSEE thirty
days from the date of the termination of this contract of lease in
accordance with the stipulations herein set forth and satisfactory
conditions.

5. That the Php20,000.00 fixed shall answer at the end of this lease for
any unpaid bills for water, electricity, telephone, etc., incurred by the
LESSEE, and damage to the leased premises and furnishings
attributable to causes other than the ordinary wear and tear and acts
of GOD. Such damages and unpaid bills will be deducted from this
deposit, and the balance, if any, shall be refunded to the LESSEE after
the termination of this lease, and provided further that the LESSEE
has to pay any difference in case the deposit is not enough.

6. The LESSEE hereby covenants with the LESSOR as follows:

a.) To pay electricity, internet, water, telephone bills, cable without

necessity of demand;

b.) To keep and maintain the leased premises in as good, clean and
tenantable condition as when received from the LESSOR;

c.) Not to make alterations and improvements on the premises;

d.) To use the premises as private dwelling house for the LESSEE;

e.) The tenant/occupant cannot leave the lease premises upon

termination of the contract without certification of clearance of all
bills like electricity, water, telephone from the Administration
Office;

f.) To authorize the LESSEE, after due notice to the LESSOR, to order
necessary and urgent repairs on the leased premises, should the
LESSOR fail to do so; and

g.) To comply with all the rules and regulations of the condominium
corporation and its authorized property manager.

7. Except for ordinary wear and tear, furnishings/improvements shall be

turned over to the LESSEE in good condition. All repairs and servicing
which may be necessary for the preservation of all these
furnishings/improvements in the unit shall be for the account of the
LESSEE. All other repairs caused by structural defects, storms or acts
of nature, electrical and plumbing systems shall be for the account of
the LESSOR. The LESSEE shall be responsible for all ordinary and/or
necessary repairs, while the LESSOR shall be responsible for all
extraordinary repairs. The LESSEE shall notify the LESSOR for any
need of extraordinary repairs as soon as the need arises. Failure of the
LESSEE to notify the LESSOR of the said extraordinary repairs, the
LESSEE shall answer for the expenses needed on the said repairs.

8. The unit shall be turned over to the LESSEE in a very clean, habitable
and tenantable condition. However, when the tenant leaves, she shall
likewise turnover the unit to the LESSOR in the same condition as
when she received the same, except the ordinary wear and tear, or
the LESSEE has to pay damages for general cleaning purposes.

9. INSPECTION OF LEASED PREMISES. The LESSOR or his duly

authorized representative, may inspect the leased premises once a
month for the purpose of checking the premises for any violation of
the terms and conditions of the contract and for termite or leakage,
and shall be made upon notice to the LESSEE.

10. SUBLEASED. LESSEE shall not directly sublease, assign, or

transfer his/her right under this contract as to the whole or any portion
of the leased premises to third party or parties without the written
consent of the LESSOR. Any sublease of said premises or any
assignment of such contract shall be null and void, and the LESSOR
shall have the right to extra-judicially terminate this contract at once
and forfeit all unused portions of the advance rentals, and he shall
have the right to eject whoever occupies the premises.

11. INSURANCE. Either party to this Contract of Lease may at

his/her option or expenses secure an appropriate insurance policy over
their respective insurable interest on the premises subject to this
lease. The party who decides to secure any insurance shall shoulder
his own loss or damages and shall hold the other party free from any
such liability.

12. MORTGAGE OR SALE OF PROPERTY. The LESSOR reserves

the right to mortgage, sell or otherwise dispose the property subject of
this lease provided the LESSEE’S interests under this lease are
respected.

The LESSOR hereby binds and obligates himself to stipulate as one of

the conditions of the sale that the purchaser of the property shall
respect the terms and conditions of this Contract of Lease, otherwise
the LESSOR shall be liable for whatever damages the LESSEE may
suffer in the event the purchaser of such property chooses not to
respect the provisions of the contract.

13. THIRD PARTY LIABILITY. The LESSEE shall during the

effectivity of this contract and his occupancy of the leased premises,
hold the LESSOR free and harmless from any damage, liability or
responsibility to any person or property which may be caused by the
LESSEE, his/her agent, employees or domestic help.
14. CARE OF THE PREMISES – The LESSEE shall use the leased
premises in accordance with the purpose for which the same is
intended in accordance with this contract. The LESSEE does hereby
bind herself to keep maintain and return the leased premises in good
sanitary and tenantable condition, ordinary wear and tear excepted.

The LESSEE further binds herself to notify the LESSOR within the
shortest possible time but not to exceed forty eight (48) hours of any
damage appurtenances as well as any occupation, usurpation or
untoward acts which any third person may have committed or may be
committing or threatening to do upon the leased premises.

The LESSEE shall not make or suffer any unlawful, improper or

offensive use of the premises, or any use of the same for any other
purpose than the specified herein.

The LESSOR shall not in any manner be liable or responsible for any
damages or injuries due to war, fire, earthquake, civil commotion, acts
of God or any similar unforeseen cause of calamities to the LESSEE or
to any of his/her properties upon the premises.

The LESSEE shall be responsible for all acts or omissions of her family
members, visitors, or third person allowed into the leased premises.

The LESSEE shall likewise be responsible for the replacement of

fixtures such as bulbs, lamps, ballast’s, switches, fuses, outlets and
the like during the effectivity of this lease.

15. BREACH OR FORCED TERMINATION OF CONTRACT. In case

of breach of any condition or term of this Contract, the LESSOR can
extra judicially terminate this lease contract and in addition to the
right of ejectment shall be entitled to collect damages, cost of
collection, expenses of litigation and reasonable attorney’s fees. The
LESSOR shall forfeit the remaining unused portion of the advance
rentals.

16. ABANDONMENT OF THE LEASED PREMISES. If the LESSEE

failed to pay the rental for two (2) months and if he/she could not be
located or contacted/reached in the said premises without notification
to the LESSOR within the said period, the LESSOR shall have the
right to enter the premises and to rent out the same to other
interested parties.

17. If the LESSEE so decided to lease the premises for less than
TWELVE (12) months, it is understood that an equivalent of one (1)
month deposit shall be forfeited in favor of the LESSOR. The LESSEE
is obliged to advice the LESSOR in writing sixty days before
termination of lease agreement.

18. RETURNING OF FACILITIES/EQUIPMENT AND ITS

MAINTENANCE. The unit, including its furnishings, items and
equipment listed in the ANNEX “A” herein attached to this contract,
shall be turned over to the LESSEE in a clean, habitable and
tenantable condition. However, when the tenant leaves, he/she shall
likewise turn over the said unit, together with the items, to the
LESSOR the same condition when he/she received it or he/she has to
pay turn-damages for general cleaning purposes.

19. PROHIBITED ACTS BY THE LESSEE. The LESSEE is prohibited

from doing any of the following acts:

a.) The use of the premises for any unlawful or immoral purposes or
any purpose contrary to public policy, or that which will impair the
purpose of this lease;

b.) The storage of any flammable, toxic, harmful, poisonous or

noxious substance or material within the premises.

c.)The storage of any item, the possession, use, distribution or sale of

which is prohibited by law, including drugs, firearms, ammunition
and explosives;

d.) The introduction of any improvements or alteration on the

premises (boring holes, installing hangers & hooks) without prior
consent of the LESSOR or making alternation that result in a
deviation from the approved plans, designs and specifications
including that for the electrical, plumbing and sanitary systems;

e.) The sublease, assignments, transfer, conveyance to the

mortgage or any encumbrance of the LESSEE’s right to the
premises, directly or indirectly in any manner whatsoever, without
the prior written consent of the LESSOR.

f.) The carrying on or permitting any activity, trade or occupant which

may expose the premises to fire and other hazards.

20. The LESSOR hereby transfers unto the LESSEE the

privileges/rights to use the swimming pool, the fitness gym and
function room.

21. This lease shall always be subject to existing ordinance, laws,

rules and regulations of AZURE URBAN RESORT RESIDENCES and
the LESSEE shall comply with these laws and regulations.

IN WITNESS WHEREOF, The parties hereto have signed these presents

in Baguio City on the date first written above.

__________________ __________________
LESSOR LESSEE
____________________ ____________________

SIGNED IN THE PRESENCE OF

___________________________ ______________________

ACKNOWLEDGMENT

REPUBLIC OF THE PHILIPPINES)

)SS.
DONE: IN THE CITY OF BAGUIO)

BEFORE ME, a Notary Public for and in the City of Baguio, Philippines,
personally appeared the parties with their Identification Cards bearing their
respective numbers as indicated above and known to me to be the same
persons who executed the foregoing instrument and acknowledged to me
that the same is their free act and deed.
This deed refers to a contract of lease, consisting of six (6) pages
including this page where acknowledgment is written signed by the parties
and their instrumental witnesses on every page hereof.

IN WITNESS WHEREOF, I have hereunto set my hand and affixed

my notarial seal at the place and on the date first above written.

Doc. No. ___;

Page No. ___;
Book No. ___
Series of 2019.