CONTRACT OF LEASE

KNOW ALL MEN BY THESE PRESENTS:

This Contract of Lease (the “Contract”), made and executed on _____________ at

_______________, by and between:

__________________ a corporation duly organized and existing under

and by virtue of Philippine laws, with principal address at [Address],
represented by its [Position], [Name], hereinafter referred to as the
“LESSOR”.

- and -

__________________, a corporation in the process of registration with the

Securities and Exchange Commission, represented by its [Position],
[Name], hereinafter referred to as the “LESSEE”.

(each may be referred to as a “Party”, and collectively, the “Parties”)

WITNESSETH That ˗˗

WHEREAS, the LESSOR is the absolute and registered owner of a property consisting of
[Description/Address] (the “Subject Property”);

WHEREAS, the LESSEE has offered to lease the Subject Property, and to which the
LESSEE has agreed;

NOW THEREFORE, for and in consideration of the foregoing premises, the LESSOR
hereby leases to the LESSEE, and the LESSEE hereby accepts the Subject Property, under the
following terms and conditions:

1. TERM OF LEASE. The Contract shall be for a period of [Term of the Lease, in years or
months] commencing on [Date of Commencement] and shall be renewable at the option
of the LESSEE. Upon mutual agreement by the Parties, a new lease agreement shall be
executed.

2. RENTAL PAYMENT. The LESSEE shall pay [an annual/ a monthly] rental of [Amount in
words] Pesos, Philippine currency, [Php ___________], which shall be paid to the
LESSOR on or before ____ day of [date/ each month].

3. CHARGES. The LESSEE, for the duration of the Contract and while in possession of the
Subject Property, shall be accountable for and shall promptly pay all utility charges for
water, electricity, telephone, and other third-party services availed of.

4. TAXES, ENCUMBRANCES AND INSURANCE. LESSOR agrees to pay all real estate
and other taxes, government assessments, obligations, and other charges levied on
and/or may become a lien on the Subject Property as they become due. Should the
LESSOR fail to pay, LESSEE shall have the right to make such payments for the account
of the LESSOR, in which event it shall be subrogated to all the rights of the holder of such
lien, and in addition, thereto, shall have the right to apply accruing rentals to the
satisfaction of such obligation.

Any and all new or additional taxes, assessments and charges levied on the Subject
Property by reason of any new structure or improvements introduced by the LESSEE,
which may become a lien or liability of the LESSOR if not paid, shall be for the account of
the LESSEE.

Documentary Stamp Taxes and other expenses in case of registration of this Contract of
Lease with the Registry of Deeds for annotation purposes and cancellation thereof shall
be for the account of the [LESSEE].

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 Insurance premium for the Subject Property shall be paid by the LESSOR.

5. FORCE MAJEURE. If whole or any part of the Subject Property shall be destroyed or
damaged by fortuitous events or acts of God, such as flood, lightning, typhoon or
earthquake, which would render the Subject Property substantially unfit for use and
occupation of the LESSEE, or would prohibit the LESSEE to use the Subject Property,
either Party may terminate this Contract, without compensation, by sending a written
notice to the other Party.

6. EXPROPRIATION – In the event that expropriation proceedings are instituted during the
period of this lease by any instrumentality or the Government or by any other entity with
authority to exercise such power, either party may rescind this Contract should the leased
premises become no longer useful for the purpose of this lease, upon giving the other
party thirty (30) days prior written notice thereof. In case of such expropriation, the
LESSOR shall refund all unused rentals, if any, to the LESSEE upon the latter’s vacating
the Leased Premises.

7. TERMINATION OF LEASE. The LESSEE agrees to return and surrender the Subject
Property at the expiration of the term of this Contract in as good tenantable condition as
reasonable wear and tear will permit and without any delay whatsoever, devoid of all
occupants, furniture, machinery, equipment, signages, articles and effects of any kind
except such permanent improvements which cannot be removed without causing any
damage to the Subject Property.

8. EFFECT OF CONTRACT. This Contract shall be binding between the Parties, and their
respective assigns and successors-in-interest. None of the terms and conditions of this
Contract may be changed or altered unless by express agreement in writing between
Parties.

9. WARRANTY – The LESSOR hereby warrants the continued, peaceful, and uninterrupted
possession and enjoyment of the leased premises by the LESSEE throughout the life of
this Contract of Lease and its extension, if any.

10. SEVERABILITY – In the event any provision of this Contract is declared null and void by
any competent court or other authority, such declaration shall not affect the rest of the
provisions herein which shall continue to have binding effect on the parties thereto.

11. GOVERNING LAW. This Contract shall be governed by the laws of the Republic of the
Philippines.

IN WITNESS WHEREOF, the Parties hereto have signed these present on the date and
in the place above-mentioned.

_________________________ _________________________
Lessor Lessee

By: By:

___________________________ ___________________________
[Name] [Name]
[Position] [Position]

Signed in the presence of:

___________________________ ___________________________
[Name] [Name]

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 ACKNOWLEDGEMENT

REPUBLIC OF THE PHILIPPINES )

CITY OF ________________________ ) S. S.

BEFORE ME, a Notary Public for and in ___________ City, this _________________,
personally appeared the following with their respective competent identification credentials:

Name Competent Proof of Date and Place of

Identity Issuance
[Name of Company]
By: [Name]
[Name of Company]
By: [Name]

known to me to be the same persons who executed the foregoing “Contract of Lease”, consisting
of ___ pages, including this page, together with their witnesses, and acknowledged to me that it
is their free and voluntary act and deed, as well as that of the entities represented herein, and
that they are duly authorized to sign the same.

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

Doc. No. ____;

Page No. ____;
Book No. ____;
Series of 20XX.

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