8/12/2019 Liong and Cruz

1/2

KNOW ALL MEN BY THESE PRESENTS:

This CONTRACT OF LEASE made and entered into by and between.

TARCILA A. LIONG, legal age, married, Filipino citizen with residence andpostal address at 113 M. Roxas St., Trancoville, Baguio City, Philippines, hereinafterreferred to as the LESSOR;

and

FELY D. CRUZ, alsoof legal age, Filipino citizen, and with residence and postaladdress at No. 10 Bengao (Bakakeng Central), Marcos Highway, Baguio City,Philippines, hereinafter referred to as the LESSEE;

WITNESSETH

WHEREAS,the LESSOR, is the absolute owner of a residential house located atNo. 113 M. Roxas St., Trancoville, Baguio City.

WHEREAS, the lessee has offered to lease the__________________________________________________________.

WHEREFORE, for and in consideration of mutual provisions and stipulationscontained and reserved in the following clauses, the parties herein do contract and agreeas follows:

1. DURATION OF LEASE: This Contract of Lease is to remain valid for a period ofone (1) year lease starting from March 1, 2014 to March 1, 2015. The leased may berenewed by mutual agreement between the parties.

2. RENTAL: The monthly rental of the leased premises is hereby fixed at THREETHOUSAND PESOS (PhP 3,000.00), Philippine Currency, to be paid by the LESSEEwithout need of demand on or before the fifth (5th) day of each month of lease; in case ofdelay in the payment thereof, the LESSOR may assess and collect a surcharge of fivepercent (5%) on the amount to be paid per month.

3. MAINTENANCE: That the LESSEE hereby acknowledges that the leased premiseis in good condition and agrees to help the LESSOR in the maintenance of the same.

4. That the personal characters of the LESSEE as herein represented and the natureof occupancy of the premises constitute special considerations in this lease.Consequently, any violation, direct or indirect, of any of the stipulation hereof shall beground for the termination of this lease.

5. That the LESSEE shall immediately vacate the leased premises without need offurther oral demand upon the termination of the period of this lease. Renewal of thelease agreement shall be at the option of the LESSOR. However, if the LESSEE intendsto extend/renew the lease agreement, he shall intimate his intentions directly to the

LESSOR within two (2) months prior to the termination of this agreement. Otherwise,his failure to do so may be construed to mean as loss of his interest to renew the same.

6. That the LESSEE shall not, directly or indirectly, assign, sublease, transfer orotherwise encumber the rights of lease herein granted.

7. The LESSEE shall not undertake any repair work which may not be necessary toprevent loss or damage to the leased premises or introduce improvements without theapproval of the LESSOR, the improvements or alterations and shall form part of the

CONTRACT OF LEASE

8/12/2019 Liong and Cruz

2/2

building and the costs thereof should not be subject to reimbursement unless otherwisestipulated in writing.

8. That the open spaces in the compound shall be free from articles or structures thatmay obstruct common use of the same.

9. That the LESSOR shall have the right to inspect the leased premises at anyreasonable hour of the day.

10. That the abandonment of the leased premises or its being locked or closed for aperiod of more than thirty (3) days without the LESSEE paying the rentals due shallentitle the LESSOR to open the premises and have all the articles therein removed,stored in another place and declare the lease terminated.

11. That the LESSOR shall not be responsible for any loss or damage to any propertyof the LESSEE on the account of robbery, fir, storm or any events of which the LESSORor his agents have no control or participation.

12. That the LESSEE shall keep the place clean and sanitary at all times.

13. That upon termination of the lease, the LESSEE shall turn over possession of thepremises to the LESSOR in the same condition, save for wear and tear, and with all thefixtures as when he occupied the same. It is to be understood that all permanentstructures introduced by the lessee with the conformity of the lessor shall pertainexclusively to the latter upon the termination of this agreement.

IN WITNESS WHEREOF,the parties have hereunto set their hands this 17thdayof February 2014 at Baguio City, Philippines.

TARCILA A. LIONG FELY D. CRUZ

LESSOR LESSEESenior Citizen ID No. 19566Issued On: 5-07-12

Signed in the presence of:

___________________________ _____________________________

REPUBLIC OF THE PHILIPPINES)Baguio City ) S.S.

ACKNOWLEDGMENT

BEFORE ME, a Notary Public for and in Baguio City, this 17thday of February2014, personally appeared the above parties. Known and identified by me throughcompetent evidence. They presented this integrally complete instrument andrepresented to me that the signatures on the instrument were voluntarily affixed bythem for the purpose stated, declaring that they executed this instrument as their freeand voluntary act and deed.

The foregoing instrument refers to a CONTRACT OF LEASE consisting of two (2)pages including the page on which this acknowledgement is written, signed by theparties and their instrumental witnesses on each page hereof, and they acknowledged tome that the same is their free act and voluntary deed.

WITNESS MY HAND AND SEAL.

Doc. No. 430; Page No. 86;

Book No. 6; Series of 2014.