CONTRACT OF LEASE

KNOW ALL MEN BY THESE PRESENTS:

This Contract of Lease, made and entered into this _________________, at Manila,
Philippines by and between:

__________________________________, Filipino citizen, married with

residence address at _____________________________________.____,
now and hereinafter referred to as LESSOR,

AND

__________________________________, Filipino citizen, married with

residence address at __________________________________________,
and herein referred to as the LESSEE,

WITNESSTH:

THAT FOR and in consideration of the payment of the rent and of the compliance
of all conditions hereinafter contained the LESSOR has agreed to lease unto the LESSEE,
and the latter to lease, the property with postal address at __________________________
___________________ with an area of _____SQM more or less, owned by the LESSOR.

NOW, THEREFORE, for in consideration of the foregoing, the parties hereto

have agreed as follows:

1. TERM – This CONTRACT OF LEASE shall be for a fixed period of one (1) year,
commencing on ________________and shall expire on midnight of ________________.
The amount of rent specified in this contract shall be reviewed and agreed upon by both
LESSOR and LESSEE at the end of the lease. In case the LESSOR and LESSEE fail to
agree on the new rental rate, this contract shall be deemed terminated without prejudice.

The term herein agreed upon is for the benefit of the LESSOR. Should the
LESSEE terminate this contract before the expiration of period stipulated, the LESSEE’S
deposit shall be forfeited in favor of the LESSOR and the LESSEE remains to be liable
for all bills, charges, dues of whatever nature that may arise from his use and occupancy
of the premises.

2. RENTAL – The LESSEE shall pay a monthly rental of _________________________

_______________ (Php ) ONLY, Philippine Currency, Upon signing of
this Contract, the LESSEE shall pay the corresponding security deposit herein described
on the following paragraph, together with the first month rent. The LESSEE shall pay the
monthly rent every _____ of the month.

3. SECURITY DEPOSIT – The LESSEE shall pay to the LESSOR the sum of
__________________________________________________ PESOS ONLY, Philippine
Currency representing Two (2) months deposit. This security deposit shall be refunded to
LESSEE upon termination of this Lease only after full settlement of any rent in arrears,
bills for utilities, and damages to the premises caused by LESSEE on the leased premises
and such other costs as may be chargeable against LESSEE under this contract.

4. UTILITIES – All expenses for water, electricity, telephone, and such other utilities
shall be for the account of the LESSEE.

5. PURPOSE OF THE PREMISES – The premises subject of this Contract shall be

used by the LESSEE for the Residential purpose only and LESSEE shall not alter the use
of the leased premises nor sublease the premises or any portion thereof without the prior
written consent of the LESSOR.

LESSOR shall rescind this Contract in case the leased premises are subleased or
used for purposes other than that stated above.
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6. IMPROVEMENTS – The LESSEE shall not make any structural changes, alterations
or improvements in the leased premises without the written consent of the LESSOR. It is
agreed that any major repairs/improvements which are non-movable objects or things
made or introduced by the LESSEE with or without LESSOR’S consent shall upon
termination of the Lease Contract inure to the benefit of the leased premises and become
property of the LESSOR without any obligation on the latter’s part to pay and refund its
value or cost to the LESSEE.

No signs, billboards, structures, construction or alterations of any kind whatsoever

shall be made by LESSEE on any part of the premises without the prior written approval
by LESSOR, and LESSOR shall have the right to remove any such signs, billboards or
structures placed by LESSEE, without need of notice or reimbursement for its cost.

7. SANITATION AND REPAIRS – The Lessee shall keep the premises in clean and
sanitary condition. The LESSEE hereby expressly acknowledges that the leased premises
are in good and tenantable condition and agrees to keep the same in good and tenantable
condition. Any provision of law, present or future or any stipulation in this Contract to
the contrary notwithstanding, the LESSEE hereby agrees and binds itself to undertake
through qualified workmen or contractors and at its own exclusive expense, all repairs,
necessary or otherwise, such as to maintain the leased premises in practically the same
condition as it was upon the commencement of the lease contract.

It shall be the obligation of the LESSEE to notify the LESSOR of the need for
repair before any work is conducted thereon.

8. FIRE HAZARD AND OBNOXIOUS SUBSTANCES – The Lessee shall not keep,
deposit or store in the leased premises any obnoxious substances or any flammable
materials or substances that may constitute fire hazard.

9. TAXES – Real Estate Taxes shall be for the account of the LESSOR. Any other tax,
dues, assessments or charges that may be imposed by the building administration, or by
the national or local government in connection with the use of facilities and other utilities
or occupancy of the leased premises shall be for the sole account of the LESSEE.

10. CARE OF THE LEASED PREMISES/INSPECTION – The LESSEE shall always

maintain the said premises in good and tenantable condition and for this purpose, the
LESSOR or his/her appointed representative/s reserves the right at reasonable times to
enter and inspect the premises and to inform the LESSEE of the necessary repairs to be
undertaken by the LESSEE.

11. SALE, TRANSFER OF LEASED PREMISES – In the event of sale, transfer,

mortgage or any other encumbrances of the leased premises, this contract shall be
guaranteed and respected and made a part of such sale or any other transfer of interest.

12. DAMAGES, INJURIES IN THE LEASED PREMISES – LESSOR shall not be

liable nor responsible for any injury, loss or damage including wrongful death, which
LESSEE, his relatives and/or other guests may sustain within the lease premises,
appliances, furniture and fixtures and other effects, likewise sustained within the lease
premises caused by but not limited to the following; (a) the presence of bugs, roaches,
vermin, ants, termites and other kinds of insect; (b) the failure of disruption of water
supply and/or electric current; (c) fire due to faulty electrical wirings, fuses, installations,
etc; (d) defective plumbing or pipes, bursting, leaking, destruction or clogging of any
cistern, tank, washstand, water closet, waste or soil pipe, etc; (e) leakage of water or the
elements from the roof or any part of the building due to rain, typhoon, flood, earthquake,
repairs or other construction work, etc; (f) loss of any article delivered to or left with any
party of LESSEE; (g) robbery, theft or any other crimes; (h) acts of negligence and/or
vandalism of LESSEE or its guest(s); or (i) for any cause whatsoever not due directly to
the fault of the LESSOR.
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13. RETURN OF PREMISES/RENEWAL – One of the essential conditions of this

lease that induced the LESSOR to lease the premises to the LESSEE is the latter’s
promise to abide by the terms hereof faithfully. Thus, at the expiration of the term or
termination of this Contract, that is on ____________________, the LESSEE shall vacate
immediately the leased premises and return the possession thereof to the LESSOR in as
good condition as were found at the beginning of the lease, reasonable wear and tear
permitted. Should the LESSEE refused to vacate the premises, LESSOR shall have the
right to pad lock the leased premises without any consent from the LESSEE and
LESSOR shall not be liable for whatever losses or damage the LESSEE may incur with
its/his personal properties.

14. ABANDONMENT OF LEASED PREMISES – If during the term of this lease, the
premises shall be deserted or remain unoccupied for a continuous period of Forty-Five
(45) days, the LESSOR shall have the right to enter the premises as agent of the LESSEE
and to receive the rent and apply the same to the payments of the rent due for the whole
term of this lease, holding the LESSEE liable for any deficiency. At its option, the
LESSOR may lease out the premises, without notice to the LESSEE, to any such party
and under such terms it may decide.

The LESSOR shall also have the right to retain the properties in the premises
owned by the LESSEE as security for the payment of the LESSEE’S obligations under
this Contract, which properties the LESSOR may, as attorney-in-fact, of the LESSEE,
dispose of at public auction or by private sale, the proceeds to be applied to such
obligations and the excess to be turned over to the LESSEE or whoever is entitled thereto
or place the same on deposit, if necessary, without prejudice to the right to the LESSOR
to collect the deficiency, if any, from the LESSEE.

15. FIRE – In case of damage to the leased premises or its appurtenances by fire,
earthquake, typhoons, riots, civil commotion, or any other unforeseen cause, the LESSEE
shall give immediate notice thereof to the LESSOR. If the leased premises shall be
damaged by fire, or other events caused by the LESSEE, the damage shall be repaired at
LESSEE’S expense (without prejudice to the LESSOR’S right of action against the
responsible party(ies). If the premises is damaged by earthquake, typhoon and other
calamity beyond the control of LESSEE, the LESSOR shall have the option to repair or
not to repair the damages. The monthly rentals to be paid by the LESSEE shall be
reduced in proportion to the area not suitable for occupancy until the repairs shall have
been completed. But if the building or the leased premises are so nearly untenantable,
either party may demand the rescission of this Contract, and the LESSOR shall return any
unused advance rental, including any refundable deposit made by the LESSEE.

No compensation or claim shall be allowed against the LESSOR by reason of

inconvenience, annoyance or injury arising out of the necessity of repairing any portion
of the building however the necessity may arise.

16. MISREPRESENTATION – Any misrepresentation by the LESSEE as to his actual

occupancy of the leased premises or as to his identity and authority to sign this contract
shall be a ground for cancellation thereof and the exercise by the LESSOR of the
remedies under paragraph 17 hereof.

17. BREACH/PENAL PROVISIONS – It is hereby agreed and understood by both

parties that all the covenants herein contained are the primary considerations for entering
into this agreement and breach of any one of the above conditions is made by LESSEE,
LESSOR, shall, may, at his discretion cancel and extrajudicially terminate this Contract
and eject the LESSEE from the premises. Should the LESSOR be compelled to seek
judicial relief against the LESSEE, the latter shall, in addition to attorney’s fees and costs
of the suit pay an amount equivalent to 30% of the amount claimed in the complaint as
and by way of penalty and liquidated damages.
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Should the LESSOR extrajudicially terminate or cancel the Contract as provided

herein, upon notice delivered or mailed at the leased premises, the LESSOR may
forthwith lock the premises and exclude the LESSEE therefrom. It is understood that
LESSEE shall be liable for any and all damages actual and consequential, resulting from
such default and termination.

IN WITNESS WHEREOF, the parties hereto have signed these presents on the date and
at the place above written.

(Lessor)
(Lessee)

SIGNED IN THE PRESENCE OF

_______________________________ _______________________________

ACKNOWLEDGEMENT

REPUBLIC OF THE PHILIPPINES)

MANILA, PHILIPPINES) S.S.

BEFORE ME, a Notary Public for in Manila, this

_________________________day of __________, 2010 personally appeared to me the
following with their respective Community Tax Certificates:

NAME COMM. TAX. CERT. NO. DATE & PLACE ISSUED

All known to me and to me known to be the same persons who executed the foregoing
Contract of Lease consisting of Four (4) pages, including this one, signed by them and
their instrumental witnesses and they acknowledged to me that the same is their own free
and voluntary act and deed and of the corporation(s) herein represented.

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

Doc. No: _____

Page No: _____
Book No: _____
Series of 2010.