- CONTRACT OF LEASE -

KNOW ALL MEN BY THESE PRESENTS:

This Contract of Lease, made and entered into this day June 19 of 2019, in
Makati City, Metro Manila by and between:

LESSOR: MA. TERESA P. LIMIHOL, Filipino National, of legal age with

residence at 995 Domingo Poblete, BF Executive Village, BF Homes Paranaque,
hereinafter referred to as the “LESSOR”.

a n d

LESSEE: YOU TAO, Chinese Citizen, of legal age with office address at 18/F,
Philam Life Tower, Paseo de Roxas Makati City, hereinafter referred to as the
“LESSEE”.

SUBJECT: Unit for Lease - UNIT NO. 24-F

GREENBELT PARKPLACE
Carlos Palanca St., Legaspi Village
Makati City

W I T N E S S E T H:

WHEREAS, the LESSOR has the legal absolute right to lease the
PREMISES and all the furniture, fixtures and appliances therein as listed in Annex
“A” hereof, subject to the terms and conditions hereinafter specified,

NOW THEREFORE, for and in consideration of the foregoing and mutual

covenants hereinafter contained, the LESSOR has let and by these presents does
hereby let and lease unto the LESSEE, the aforesaid LEASED PREMISES and the
LESSEE hereby accepts the same by way of lease, subject to the following terms and
conditions:

1) PERIOD OF LEASE: This Lease shall be for a period of ONE (1) YEAR from
July 31, 2019 to July 30, 2020, renewable, under such terms and conditions by
mutual agreement of both parties, in which case, the LESSEE must signify its
intention to terminate or renew by written notice thereof to the LESSOR sixty
(60) days prior to the expiration of this contract

2) AMOUNT OF RENT: The parties herein agree that the monthly rental of the
LEASED PREMISES shall be THIRTY THOUSAND PESOS (PHP 30,000.00),
Philippine Currency, inclusive of the prevailing Condominium Association Dues
which will be for the account of the LESSOR. The TERMS OF PAYMENT shall
be specified as follows:

A. The Two (2) months SECURITY DEPOSIT of SIXTY THOUSAND

PHILIPPINE PESOS (PHP 60,000.00) by LESSOR as a non-interest bearing
serve as a Guarantee for the faithful compliance of the Provisions of this Lease

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 Contract for the duration of the Lease. The SECURITY DEPOSIT shall not apply
as Rental, it shall be kept intact with the LESSOR throughout the Life of this
Contract. However, if the aforesaid Security Deposit is not enough to settle the
outstanding unpaid Bills such as Electricity, Water, Cable, Damages to the Unit (if
any), Internet, etc., the LESSEE is obliged to settle the same to the LESSOR. The
unused amount, if any, will be refunded to the LESSEE by the LESSOR without
interest AFTER SIXTY (60) DAYS from the Expiration Date of this Lease
Contract or any extension therefore provided that all bills and
accountabilities shall have been settled by the LESSEE.

B. The Sum of NINETY THOUSAND PHILIPPINE PESOS (PHP 90,000.00)

representing (3) MONTHS ADVANCE RENT for the period of July 31, 2019 to
October 30, 2019 and SIXTY THOUSAND PESOS (PHP60,000.00) as Two
(2) MONTHS SECURITY DEPOSIT to be paid in CASH by LESSEE to the
LESSOR and Three (3) PDC’s for the remaining 10 months.

3) INTEREST AND PENALTY: In case of the failure by the LESSEE to make any
payment required to be made under the Contract, the LESSEE shall pay interest on
such unpaid amount at the rate of five percent (5%) per month, until fully paid, and
shall confer upon the LESSOR the right to padlock the doors of the premises,
without necessity of any prior court order/decision, the right to disconnect any and
all utility facilities, such as electricity, water, telephone, and others, to the LEASED
PREMISES, within 72 hours from receipt by the LESSEE of the written demand to
pay such unpaid amounts.

4) IMPROVEMENTS AND ALTERATIONS: The LESSEE shall not make or

introduce any major structural changes, alterations, and/or improvements to the
Leased Premises without the written consent of the LESSOR. However, any major
alterations, or improvements made or introduced by the LESSEE to the Leased
Premises with prior written consent of the LESSOR shall inure to the benefit of the
Leased Premises, and shall become the property of the LESSOR, without any
obligation on the latter’s part to refund its value or cost to the LESSEE; or the
LESSOR may require the LESSEE to restore the said part/s of the premises to its
their original condition

5) SANITATION AND REPAIRS: The LESSEE shall keep the Leased Premises
clean and in sanitary condition and take care of and keep in good condition the
furniture and appliances included. The LESSEE has inspected the Leased Premises
and found the same to be in good and tenantable condition;

The LESSOR shall be responsible for the maintenance and cost of repairs to the
building electrical, plumbing and sewerage system including electric water heater;
except for repairs due to fault or negligence of the LESSEE;

The LESSOR shall undertake repairs and breakdowns in the leased premises that
may occur within the duration of the Leased Period, when such are results of age or
wear and tear; and provided that the said repairs are not due to the fault or
negligence of the LESSEE. The LESSEE shall notify the LESSOR or LESSEE’s
Representative verbally or in writing of the repairs and/or damages

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 Regular cleaning and maintenance of the air conditioning unit (once every six (6)
months) and grease traps (once every quarter) by the authorized maintenance of the
GREENBELT PARKPLACE Condominium Corporation shall be for the account
of the LESSEE. The LESSEE shall be responsible for damages to the leased
premises arising from his fault or negligence, his household, and guests. Minor
repairs that may be necessary arising from ordinary usage amounting to below
FIVE THOUSAND PHIL. PESOS (P 5,000.00), shall be for the account of the
LESSEE

Should the LESSOR fail to commence with the necessary repairs within this
specified period, the LESSEE shall have the right to secure the needed services for
the said repairs. In which event, the LESSOR agrees to pay the cost of such repairs.
In like manner, in case the repairs are undertaken by the LESSOR for which the
LESSEE is responsible, under this Agreement, the LESSEE hereby agrees to
reimburse the LESSOR for the cost of the said repairs, below the P5,000.00
threshold

6) TAXES AND INSURANCE: Real Estate Taxes, Government Assessments, and

Fire Insurance charges shall be for the account of the LESSOR.

7) FIRE HAZARDS AND OBNOXIOUS SUBSTANCES: The LESSEE shall not

keep, deposit, or store in the Leased Premises any obnoxious substances, illegal
drugs, explosives, or flammable materials that might constitute a fire hazard.

8) THIRD PARTY LIABILITY: The LESSEE, during his occupancy of the Leased
Premises shall hold the LESSOR free and harmless from any damage or liability or
responsibility to any person or property arising out of or as the consequence of the
use of the Leased Premises by the LESSEE, members of his household, his agents,
employee(s), domestic helper(s), and guests. But when such damage is caused by
fortuitous events or acts of God, such as typhoons, earthquakes, floods, etc., which
is beyond the control of the LESSEE, the latter shall not be liable to the LESSOR

9) INSPECTION OF PREMISES: The LESSOR shall maintain the Leased

Premises in good and tenantable condition and for such purpose the LESSOR
reserves the right to enter and inspect the Leased Premises at reasonable time at
least Twenty Four (24) Hours Notice, and to make necessary repairs thereof,
provided however, that the LESSOR gives the LESSEE due notice

10) RULES AND REGULATIONS: The LESSEE hereby agrees to abide by the
rules and regulations promulgated by the GREENBELT PARKPLACE
Condominium Administration. Any violation by LESSEE of the Association rules
is his own responsibility, and the LESSOR shall not be held co-responsible for
such violation. Any violation of said Condominium Association rules shall
constitute a violation of this Contract of Lease

11) NOTICE: The LESSEE shall inform the LESSOR of his intention to renew or not
to renew the Lease Contract within Sixty (60) days prior to the expiration thereof.
In case of non-renewal of the Lease, the LESSEE shall permit the LESSOR to
show the premises to prospective LESSEES, at reasonable hours and with prior due

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 notice to the LESSEE. Failure to serve the sixty (60) day non-renewal notice will
mean an automatic renewal for another year.

12) PRETERMINATION CLAUSE: The LESSEE warrants the fulfillment of the full
term in this lease contract. Should the LESSEE pre-terminate this ONE (1) Year
Contract for any reason whatsoever, the LESSOR shall forfeit the TWO (2)
MONTHS SECURITY DEPOSIT AND ALL THE UNUSED RENTAL FOR THE
REMAINING DURATION OF THIS CONTRACT.
In the Event that the LESSEE shall be reassigned by their employer to another
country or location, the LESSEE may assign another person or colleague to assume
and continue the lease contract provided that there will be at least THIRTY (30)
DAYS notice to the LESSOR before he appoints another person and sufficient
documentation must be made prior to occupancy. Only ONE (1) of such case or
event shall be allowed throughout the Lease Contract.

13) RETURN OF THE LEASED PREMISES: Upon termination of this Lease

contract for any reason whatsoever, the LESSEE shall immediately vacate the
Leased Premises and return possession thereof to the LESSOR, unless the Lease
Contract is extended upon mutual consent of both parties. After the expiration or
termination of this Lease Contract, the LESSEE shall deliver the Leased Premises
to the LESSOR in the same good, clean and tenantable condition excluding wear
and tear

14) VIOLATION: Both parties agree that all covenants and agreements herein
contained shall be deemed conditions as well as covenants and that if default or
breach be made of any such covenants and conditions then this Lease at the
discretion of the aggrieved party, may be terminated and cancelled forthwith and
the party at fault shall be liable for any and all damages, actual and consequential
including all costs of litigation proceedings resulting from such default or
termination. And in case of any legal action that may be necessary to enforce the
provisions of this Contract, the Courts of the City of Makati shall have jurisdiction.

IN WITNESS WHEREOF, the parties hereto set their hands this_____________ 2019
at Makati City..

______________________________ _____________________________
MA. TERESA P. LIMIHOL YOU, TAO
LESSOR LESSEE

SIGNED IN THE PRESENCE OF :

_______________________________ _____________________________

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 -A C K N O W L E D G M E N T-

REPUBLIC of the PHILS.)

) S.S.

BEFORE ME, a Notary Public in and for the Municipality of

______this______________2019 personally appeared:

NAME PASSPORT NO. DATE/PLACE ISSUED:

MA. TERESA P. LIMIHOL

YOU, TAO E99471245 06/04/17 / FUJIAN

Known to me and to me known to be the same persons who executed the

foregoing Contract of Lease consisting of FIVE (5) pages including this one and
acknowledged to me that the same is their free and voluntary deed

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

NOTARY PUBLIC
Doc. No._____
Page No._____
Book No.____
Series of 2019

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