CONTRACT OF LEASE

KNOW ALL MEN BY THESE PRESENTS:

This CONTRACT OF LEASE is made and entered into by and between:

The DEPARTMENT OF AGRICULTURE- REGIONAL FIELD OFFICE 8, a national
government agency existing under the laws of the Republic of the Philippines, with office address at
Kanhuraw Hill, Tacloban City, represented by its Regional Executive Director, ATTY. CIPRIANO
G. SANTIAGO, CESO III, hereinafter referred to as “LESSE”,
and
The VICTORIA DEVELOPMENT AND VENTURES CORPORATION, a corporation
duly registered with the Securities and Exchange Commission (SEC) under the laws of Republic of
the Philippines, with the office address at 103 Lopez Jaena St., Tacloban City, represented by Director
NICOLLETTE LO DIU, hereinafter to as “LESSOR”,

WITNESSETH:
WHEREAS, the LESSOR is the owner of that certain storey building located at corner M. H.
del Pilar St. and Lopez Jaena St., Tacloban City;
WHEREAS, the LESSE desires, and the LESSOR is willing, to lease the entire 4 th Floor of
this building, with an area of 358.86 square meter that will be used as the temporary office of the
employee of the Regional Crop Protection Center (RCPC) and Regional Soils Laboratory (RSL), and
storage area of the various laboratory equipment, while their offices are under construction;
NOW THEREFORE, the LESSORE hereby leases unto the LESSEE that certain space of
the above-described building under the following terms and conditions, to wit:
1. Term: The term of the lease, shall be Twelve (12) months, commencing on January 1,
2019 and expiring on December 31, 2019;
2. Rental: The monthly rental for the leased premises is Forty-Nine Thousand Nine
Hundred Fifty Pesos Only (₱49,950.000.00), Philippine Currency, or the total amount of
Five Hundred Ninety-Nine Thousand Four Hundred Pesos Only (₱599,400.00);
3. Electricity and Water: All bills for electricity and water used in the leased premises
shall be for the account of the LESSEE. Failure of the LESSEE to pay the electricity and
water bill for two (2) months shall be ground for the termination of the lease;
4. Office Space: The LESSOR shall provide Bare Space Only;
5. Mode of Payment: Upon the signing of their Contract of Lease and prior to moving-in
into the leased premises, the LESSEE shall pay to the LESSOR two (2) months advance
payment and one (1) month security deposit amounting to a total of One Hundred Forty-
Nine Thousand Eight Hundred Fifty Pesos Only (₱149,850.00). The monthly rentals shall
be paid by the LESSEE upon receiving the billing statement from the LESSOR;
6. Default of Payment: Failure of the LESSEE to pay two (2) consecutive monthly rentals
shall be ground for the termination of this Contract of Lease and a Penalty of Twenty
Thousand Pesos Only (₱20,000.00);
7. 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, or corporation, nor shall
the LESSEE assign its right hereunder to any other person or entity and no right of
interest thereto or therein shall be conferred on vested in anyone by the LESSEE without
the LESSOR’S prior written approval;
 8. Public Utilities: The LESSEE shall shoulder the expenses for its telephone, electric,
cable TV, water, internet and other public services used in the leased premises during the
duration of the lease;
9. Force Majeure: If whole or any part of the leased premises shall be destroyed or
damaged by fire, flood, lighting, typhoon, earthquakes, storm, riot, or any other
unforeseen events caused by acts of God, such as to render the leased premises
substantially unfit for use and occupation of the LESSEE, then this Contract of Lease
may be terminated without compensation by the LESSOR or by the LESSEE upon
written notice to the order party within ten (10) days;
10. That the LESSEE shall not make or cause to be made any alternation and/or improvement
in the premises without prior written consent of the LESSOR, it being understood that
such improvements in the premises shall be at the sole expense of the LESSEE. All
permanent structures shall become the property of the LESSOR upon the expiration of the
lease contract without need of reimbursing the LESSEE of the expenses for the same;
11. That the LESSEE shall permit the LESSOR or his representative to enter and inspect the
condition of the leased premises during reasonable hours and in a convenient manner;
12. The LESSEE shall be responsible for all the acts and omissions of its employees,
workers, and any person it allows access to the leased premises.
13. That the LESSEE shall notify the LESSOR thirty (30) days in advance if it decides to
vacate the premises due to the expiration of this Contract of Lease;
14. That the LESSOR in any way and all instances, shall not be responsible to the LESSEE
for any damage, which it may sustain by reason of fire, theft, or other causes. The
LESSOR shall not be held liable or responsible for any damage caused by, but not limited
to, caso fortuito, typhoon, flood, earthquake, and other causes beyond the control of the
LESSOR;
15. That the LESSEE binds and obligates himself to surrender the leased premises upon the
termination of the contract in good condition as when it received and occupied the same,
without any delay whatsoever. If the LESSEE shall fail to surrender the leased premises
upon the termination of the contract or for the reasons/grounds provided herein, the
LESSEE shall be responsible to the LESSOR for all the damages;
16. That the LESSOR hereby warrants the peaceful possession and enjoyment of the leased
premises by the LESSEE;
17. That the terms and conditions of this Contract of Lease shall be binding upon the heirs,
successors-in-interest and assigns of the LESSOR and the LESSEE. Any legal action
arising from the enforcement, implementation, or violation of the terms and conditions of
this Contract shall be filed only in the proper courts of Tacloban City to the exclusion of
all others.

IN WITNESS WHEREOF, the parties have hereunto set their respective signature this___ day of
________, 2019, in Tacloban City, Philippines.
DEPARTMENT OF AGRICULTURE- VICTORIA DEVELOPMENT
REGIONAL FIELD OFFICE 8 AND VENTURES CORP.

By: By:

ATTY. CIPRIANO G. SANTIAGO, CESO III NICOLETTE LO DIU

Regional Executive Director Director

Signed in the presence of:

DR. CARLOS DELA CRUZ _________________________________

Chairperson, Bids and Awards Committee

REYNALDO B. SALAMAT
Chief, ILD

Funds Available:

FRANCES GLYNIS B. BENITEZ, CPA

Regional Accountant

Amount: ____________________
ALOBS No.: ____________________

ACKNOLEDGEMENT

REPUBLIC OF THE PHILIPPINES )

PROVINCE OF LEYTE ) S.S.
CITY OF TACLOBAN )

BEFORE ME, a Notary Public for and in the above jurisdiction, this ____ day of
_____________ at the ________________, Philippines, personally appeared the following:

1. ____________________________ with ID. No. ____________________________

2. ____________________________ with ID. No. ____________________________

known to me to be the same persons who executed the Contract of Lease and they acknowledged to
me that the same is their voluntary act and deed and of the entities they respectively represent.

This Contract of Lease consisting of three (3) pages, including the page whereon this
Acknowledgement is written, has been signed by the parties and their instrumental witnesses on each
and every page thereof.

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

Doc. No. _______

Page No. _______
Book No. _______
Series of 2019