LEAS E AGR E E M E NT

KNOW ALL MEN BY THESE PRESENTS:

This Lease Agreement of Commercial Space is executed by and between:

HENREITTA N. ALONSO, of legal age, widow, Filipino, with residence and postal address
in Tanjay City, Negros Oriental, Philippines, hereinafter referred to as the LESSOR; - and –
MERCY R. LIM, of legal age, single/married, Filipino, with residence and postal address at
DCCCO, VILLAGE BLOCK 10 LOT 1, BANILAD DUMAGUETE CITY, Negros Oriental,
Philippines, hereinafter referred to as the LESSEE.

WITNESSETH:

That the LESSOR is the owner and possessor of Commercial Space of about thirty- six (36)
Square Meters in a building situated in Tanjay City, Negros Oriental, Philippines.

That the LESSEE offered to lease the above-described commercial Space of the LESSOR
accepted the offer of the LESSEE to lease/rent under the following terms and conditions:

1. Terms of the Lease – The lease shall be five (5) years contract. The lease is renewable at
the option of the LESSOR;

2. Amount of Rental – In consideration for this lease agreement, the LESSEE will pay to
the LESSOR a monthly rental of ___FOUR THOUSAND PESOS____(PHP _4,000.00_)
PESOS, Philippines Currency. Monthly rentals shall be paid by the LESSEE to the
LESSOR on or before the 2nd day of each month without need of demand either oral or
written, which will be given to HENRIETTA N. ALONSO at the exact amount of rental.
It is agreed that upon the execution of this lease agreement the LESSEE shall pay to the
LESSOR the amount of TWELVE THOUSAND PESOS (PHP 12,000.00) PESOS as
three (3) months advance monthly rental. Any fraction of the month is considered one
whole month.

3. After three (3) years thereafter, the monthly rental shall be increased by FIVE
THOUSAND PESOS (5,000.00).

4. The following 2 years, shall be increased at 10% of the said amount of the rental

5. Security Deposit – In addition to the rental, the LESSEE shall pay to the LESSOR, upon
the signing of this lease agreement, the amount of FOUR THOUSAND (P 4,000.00 )
PESOS, Philippines Currency, as a security deposit to be kept by the LESSOR during
the effective of this lease agreement to insure compliance by the LESSEE of his
obligations under this lease agreement and to be refunded to the LESSEE after it is fully
verified by the LESSOR in accordance with the lease agreement;

6. Liability for Utility Bills – During the effective of this lease agreement, the LESSEE
shall be liable for charges for water, electricity and other utility bills; however, the
LESSOR shall be liable for tax and other government assessment on the commercial
leased;

7. Introduction of Improvements – During the effective of this lease agreement, the

LESSEE shall not introduce any improvements, construct, demolish or alter any portion
of the house without any written consent for the LESSOR; however, any improvement
that the LESSEE may introduce on the house with or without the consent of the LESSOR
shall automatically become the property of the LESSOR and may not be removed by the
LESSEE without the consent of the LESSOR;

8. Inspection of Leased Premises – the LESSOR or her duly authorized representative

may inspect the leased premises within reasonable hours upon prior notice to the
 LESSEE for the purpose of verifying compliance by the LESSEE of his obligations
under the lease agreement.

9. Maintenance and Repairs – The LESSEE shall be responsible for minor plumbing and
electrical maintenance and repairs as well as the replacement of electrical bulbs, tubes
and starters, however, major plumbing and electrical repairs are the responsibility of the
LESSOR;

10. Termination of the Contract – The lease contract is renewable under the option and
upon such terms and conditions of the LESSOR. In the event that the LESSEE has no
intention of renewing the lease, notice of termination of the lease contract shall be done
in writing three (3) months before the expiration of this lease contract;

11. That in case of violation of any of the terms and conditions enumerated above, the
LESSOR shall be entitled to terminate this lease agreement and may immediately take
possession of the leased premises.

12. That the LESSEE shall not directly or indirectly sublease, assign or transfer his right over
the leased premises or any portion thereof under any circumstances without the written
consent from the LESSOR.

IN WITNESS WHEREOF, the parties have hereunto affixed their signatures on this
_______________ day of _______________, 2017 at the City of Tanjay, Philippines.

HENRIETTA N. ALONSO MERCY R. LIM

Lessor Lessee

SIGNED IN THE PRESENCE OF : ______________________

_____________________

REPUBLIC OF THE PHILIPPINES)

CITY OF TANJAY) S.S.

BEFORE ME, this _10th_ day of _JANUARY _, 2018 at the City of Tanjay, personally
appeared:

NAMES Com. Tax Cert. No. Date/Place of Issue

HENRIETTA N. ALONSO ________________ TANJAY CITY

________________________ _________________ _____________

with their Community Tax Certificate Numbers above-stated, known to me and to me know to be the
same persons who executed the foregoing Lease Agreement and they acknowledged me that the
same is their voluntary act and deed.

This instrument consist of two (2) pages including this page where the acknowledgment is
written has been signed by the parties and their instrumental witnesses on all pages and sealed with
my notarial seal.

WITNESS MY HAND AND SEAL

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