Promissory Note Simple Form with Interest

PROMISSORY NOTE

P_____________

FOR VALUE RECEIVED, I promise to pay without need of demand to the order of __Payee__, at his office at _____________, the principal amount of PESOS: __________________________ (P_____________), on or before _____________. In addition to the foregoing, I promise to pay monthly interest at the rate of _____________ (_______%) percent, without need of demand, starting from the month of _____________ until this note is fully paid.

__Date__, _____________, Philippines.

Maker

Promissory Note Simple Form

PROMISSORY NOTE

P__________

FOR VALUE RECEIVED, I promise to pay without need of demand to the order of __Payee__, at his office at _____________, the principal amount of PESOS: _______________(P_________), on or before _____________.

__Date__, _____________, Philippines.

Promissory Note Joint or Multiple Makers

PROMISSORY NOTE

P_____________

FOR VALUE RECEIVED, I, we, either, or any of us, jointly and severally, promise to pay __Name of Payee__ or Order the principal sum of __________________________ (_____________), Philippine Currency, without need of demand on or before _____________. (OR within a period of _____________ (_____) (days/weeks/months/years), payable in equal (daily/weekly/monthly/yearly) installment of __________________________ (P_____________) each.

Done this _____________ at _____________, Philippines.

MAKER                CO-MAKER

Promissory Note for Commercial Lending Financing

PROMISSORY NOTE

_____________

FOR VALUE RECEIVED, I/We jointly and severally promise to pay without need of demand to the order of __Name of Payee__, at its office at _____________, Philippines, the sum of PESOS: __________________________ (P_____________), payable in installment for a period of _____________ months at the rate of __________________________ (P_____________) per _____________, starting on _____________ until fully and completely paid.

Time is declared of the essence hereof and in case of default in the payment of any installment due, all the other instalments shall automatically become due and demandable together with all interest that may have accrued and shall make me liable for the additional sum equivalent to _____________ (____%) percent per month based on the total amount due and demandable as penalty, compounded monthly until fully paid; and in case it becomes necessary to collect this note through any Attorney-at-Law, the further sum of _____________ (____%) percent thereof as and for attorney’s fees, which shall not be less than P_____________ in any event, exclusive of costs and judicial/extra-judicial expenses Moreover, I further empower the holder or any of his authorized representative(s), at his option, to hold as security therefore any real or personal property which may be in my possession or control by virtue of any other contract.

In case of extraordinary change in value of the peso due to extraordinary inflation or deflation or any other reason, the basis of payment for this note shall be the value of the peso at the time the obligation was incurred as provided in Article 1250 of the New Civil Code.

DEMAND AND NOTICE OF DISHONOR WAIVED. I hereby waive any diligence, presentment, demand, protests or notice of non-payment or dishonor pertaining to this note, or any extension or renewal therefore. Holder(s) may accept partial payment(s) and grant renewals or extensions of payment reserving its/their rights against each and all indorsers, and all parties to this note. Acceptance by holder(s) of any partial payment(s) after due date shall not be considered as extending the time for payment or as a modification of any conditions hereof.

All actions arising from or connected with this note shall be brought exclusively in the proper courts of Bacolod City, Philippines; and in case of judicial execution of this obligation or any part of it, the debtor waives all rights under the provisions of Rule 39 Sec. 13, of the Rules of the Court.

__Date__, _____________, Philippines.

MAKER

Real Estate Mortgage Without Separate Promissory Note

REAL ESTATE MORTGAGE

KNOW ALL MEN BY THESE PRESENTS:

This Real Estate Mortgage, made by and between:

_____________, of legal age, (single / married / widow), and a resident of _____________, Philippines (hereinafter known as the MORTGAGOR);

– and –

_____________, of legal age, (single / married / widow), and a resident of _____________, Philippines (hereinafter known as the MORTGAGEE);

WITNESSETH; That:

The MORTGAGOR is indebted unto the MORT­GAGEE in the sum of _____________ (P__________), Philippine Currency, receipt of which is acknowledged by the MORTGAGOR upon the signing of this instrument, payable to the order of the MORGAGEE without need of prior demand or notice within a period of _____________ (years/months/weeks/days), at _____________ (P__________) (monthly/weekly/daily) starting on _____________ and on every _____________ thereafter until fully paid, with interest thereon at the rate of _____________ (______%) percent per (month/annum).

NOW, THEREFORE, for and consideration of the afore-mentioned indebtedness, and to assure the performance of said obligation to pay, the MORTGAGOR does hereby convey and DELIVER by way of MORTGAGE unto the MORTGAGEE, (his/her) heirs, successors and as signs, the following parcel of land, together with all the improvements found and standing thereon, more particularly described as follows:

(Technical Description of Property)

That it is the condition of this Mortgage that should the MORTGAGOR perform the obligation to pay the afore-cited indebtedness of _____________ together with accrued interest thereon, within the agreed term, this Real Estate Mortgage shall be discharged and shall at once become null and void and of no effect whatsoever, otherwise, it shall subsist and remain in full force and effect and be subject to foreclosure in the manner and form prescribed by law.

IN WITNESS WHEREOF, we have have hereunto set their hands, this _____________ at _____________, Philippines.

MORTGAGOR MORTGAGEE

With my Marital Conformity:

Mortgagor’s Spouse

SIGNED IN THE PRESENCE OF:

_________________ __________________

(ACKNOWLEDGMENT)

Chattel Mortgage Without Separate Promissory Note

CHATTEL MORTGAGE

KNOW ALL MEN BY THESE PRESENTS:

This Chattel Mortgage, made by and between:

_____________, of legal age, (single / married / widow), and a resident of _____________, Philippines (hereinafter known as the MORTGAGOR);

– and –

_____________, of legal age, (single / married / widow), and a resident of _____________, Philippines (hereinafter known as the MORTGAGEE);

WITNESSETH; That:

The MORTGAGOR is indebted unto the MORT-GAGEE in the sum of _____________ (P__________), Philippine Currency, receipt of which is acknowledged by the MORTGAGOR upon the signing of this instrument, payable to the order of the MORGAGEE without need of prior demand or notice within a period of _____________ (years/months/weeks/days), at _____________ (P__________) (monthly/weekly/daily) starting on _____________ and on every _____________ thereafter until fully paid, with interest thereon at the rate of _____________ (______%) percent per (month/annum).

NOW, THEREFORE, for and consideration of the afore-mentioned indebtedness, and to assure the performance of said obligation to pay, the MORTGAGOR hereby conveys by way of CHATTEL MORTGAGE unto the MORTGAGEE, (his/her) heirs, successors and as signs, the following personal property now in the possession of said MORTGAGOR:

(Description of the Subject Personal Property)

That it is the condition of this Mortgage that should the MORTGAGOR perform the obligation to pay the afore-cited indebtedness of _____________ together with accrued interest thereon, within the agreed term, this Chattel Mortgage shall be discharged and shall at once become null and void and of no effect whatsoever, otherwise, it shall subsist and remain in full force and effect and be subject to foreclosure in the manner and form prescribed by law.

IN WITNESS WHEREOF, we have have hereunto set their hands, this _____________ at _____________, Philippines.

MORTGAGOR MORTGAGEE

With my Marital Conformity:

Mortgagor’s Spouse

SIGNED IN THE PRESENCE OF:

_________________ _________________

(ACKNOWLEDGMENT)

Affidavit of Good faith

We, the undersigned MORTGAGOR and MORTGAGEE hereby jointly and severally swear that we executed the foregoing Chattel Mortgage in order to secure the indebtedness therein cited and for no other purpose or purposes contrary to law.

MORTGAGOR MORTGAGEE

(JURAT)

Release of Chattel Mortgage on Motor Vehicle

RELEASE OF MORTGAGE

KNOW ALL MEN BY THESE PRESENTS:

I, _____________, of legal age, Filipino, (single / married / widow), and a resident of _____________, Philippines,

WITNESSETH:

That I am the Mortgagee in that Deed of Chattel Mortgage executed by _____________ on _____________ and registered as Doc. No. ______; Page No. ______; Book No. ______; Series of ______, in the Notarial Register of Notary Public _____________;

That having this date received the full amount of __________________________ (P__________), in Philippine Currency, from the Mortgagor, which is in full and complete settlement of the obligation secured by the said mortgage, I do hereby forever RELEASE, DISCHARGE, AND CANCEL the aforementioned Mortgage, covering the motor vehicle that is more particularly described as follows:

Make:___________Motor No.:_____________

Series:_________Chassis No.:__________

Type of Body:_____Plate No.:___________

CR No.:__________MVRR No.:___________

IN WITNESS WHEREOF, I have hereunto set my hand, this _____________ at _____________, Philippines.

MORTGAGES

SIGNED IN THE PRESENCE OF:

__________________ _________________

(ACKNOWLEDGMENT)

Contract of Lease of Hacienda

CONTRACT OF LEASE

KNOW ALL MEN BY THESE PRESENTS:

This Contract of Lease made and entered into by and between:

______, of legal age, Filipino, (single / married / widow), and a resident of _____________, Philippines, (hereinafter referred to as the “LESSOR”),

– and –

_____________, of legal age, Filipino, (single / married / widow), and a resident of _____________, Philippines, (hereinaft er referred to as the “LESSEE”);

W I T N E S S E T H

WHEREAS, the LESSOR is the absolute and registered owner in fee simple of a parcel of land, situated in the _____________, Philippines, and more particularly described as follows:

(Technical Description of Property)

WHEREAS, the LESSEE desires to lease the above-mentioned parcel of agricultural land with a total plantable area of approximately __________________________ (_________) hectares which shall be the basis for the computation of the rentals, under the terms and conditions hereinafter provided.

NOW, THEREFORE, for and in consideration of the terms and conditions mutually agreed upon by the parties, the LESSOR, his heirs, successors and assigns, hereby convey of way of lease unto the LESSEE, his heirs, successors and assigns, the above-described parcel of land, including the improvements found and existing thereon, subject to the following terms, conditions and stipulations, to wit:

PERIOD OF THE LEASE: This contract of lease shall be for a period of _____________ (______) agricultural sugar crop-years, to commence with sugar crop-year (C.Y.) _____________ up to and including sugar crop year (C.Y.) _____________, provided further that the LESSEE shall harvest only _____________ times during the term of this lease, otherwise the LESSEE shall pay rental pro rata based on the period and hectarage without a need of court order.

RENTAL: The consideration of this lease contract shall be an annual lease rental of _____________ (_____) “LKG” per hectare computed on the basis of actual hectarage planted to sugarcanes or the amount is __________________________ (P_____________) per hectare. The total hectarage is _____________ therefore the total yearly rental is __________________________ (P_____________). The sum of __________________________ (P_____________) will be the total rental for this contract.

PAYMENT OF THE RENTAL: The sum of __________________________ (P_____________) will be due upon the signing of the contract.

TURN-OVER OF LEASED PROPERTY TO LESSEE: The LESSEE shall permit the LESSOR or its authorized representatives to take gradual possession of the leased premises as the C.Y. _____________ standing crops are being harvested by the LESSEE to enable the LESSOR to propagate and cultivate the crops for C.Y. _____________. The LESSOR shall deliver full physical possession of the leased premises to the LESSEE upon the termination of this contract and that all ratoon crops found therein shall inure to the benefit of the LESSOR.

IMPROVEMENTS AND ALTERATIONS: The LESSEE may with the written consent of the LESSOR build houses and other structures in the leased premises which however shall not exceed four (4) units for use of the LESSEE’s or his management team to include but not limited to the encargado and staff and if the LESSEE so desires, structures for a small poultry, piggery or the like;

The LESSEE is also authorized to alter the fields’ divisions, roads, canals including its culverts provided that such alteration will not result in the diminution of the plantable area;

RIGHT OF INSPECTION: Since the LESSOR will be operating a pumping station for the water needs of her other farms, parties agree that the LESSOR or her duly authorized representative shall have free access at all times to the leased premises for the sole purpose of operating said pumping station and the water-ways traversing through the leased premises;

REAL ESTATE TAXES, ETC.: The real estate taxes and other land assessments over the leased premises shall be for the exclusive account of the LESSOR while this lease is in effect;

TERMINATION DUE TO FORCE MAJEURE, ETC.: This contract was entered into by the parties in good faith and under the assumption that no event or circumstances will obtain that will make it extremely difficult or impossible for the LESSEE to continue planting and cultivating the leased premises as intended under this contract, therefore, in the event that the LESSEE feels that his life is in danger, and/or that the peace and order situation in the locality or region where the aforesaid parcel of land is found or situated deteriorates to such an extent that it would no longer be either feasible or possible to still plant or cultivate sugarcane over the leased premises, or where the prices of sugar make the operation of the farm no longer profitable, then the herein parties are agreed that the LESSEE may preterminate this lease by giving the LESSOR at least THREE (3) months prior notice, provided that the LESSEE may still harvest his standing sugarcane crops and the LESSOR is paid the pertinent rentals due thereon;

WARRANTY, RIGHT OF WAY. The LESSOR hereby agree, by these presents that she shall provide and guaranty the necessary right-of-way to the benefit of the LESSEE, including use and access to common roads and other hacienda facilities and that the LESSOR further warrants the peaceful possession and occupation of the LESSEE over said parcels of lands or from eviction thereof.

AGRICULTURAL PRODUCT. That the LESSEE shall devote the said parcel of land, subject matter of this contract, to the cultivation of sugar cane or such other agricultural products he may deem suitable and financially viable and shall be free to introduce therein whatever improvements he may deem proper and convenient, provided that upon the termination of this contract, all improvements introduced therein by the LESSEE shall remain and will inure to the benefit of the LESSOR.

MISCELLANEOUS. That in the event that any provisions of Rep. Act No. 6657, otherwise known as the Comprehensive Agrarian Reform Law of 1988, shall cover or be implemented in the leased premises or any portion thereof, the rental due shall be reduced in proportion to the area actually being occupied by the LESSEE;

IN WITNESS WHEREOF, the parties have hereunto set their hands this _____________ at _____________, Philippines.

LESSOR LESSEE

SIGNED IN THE PRESENCE OF:

__________________ _________________

(ACKNOWLEDGMENT)

Contract of Lease Condominium Unit

CONTRACT OF LEASE

KNOW ALL MEN BY THESE PRESENTS:

This Contract of Lease, made and entered into by and between:

_____________, a domestic corporation duly organized and existing under and by virtue of the laws of the Republic of the Philippines, with principal office at _____________, Philippines and represented in this act by its __Positition__, __Officer__, (hereinafter referred to as the “LESSOR”);

– and –

_____________, of legal age, Filipino, (single / married / widow), and a resident of _____________, Philippines, (hereinafter referred to as the “LESSEE”);

WITNESSETH: that –

WHEREAS, the LESSOR is the owner of a condominium unit located at _____________, more particularly described as follows:

(Technical Description of Condo Unit)

WHEREAS, the LESSEE desires to occupy the above-named condominium unit and the LESSOR is willing to lease the same unto the LESSEE, subject to the terms and conditions hereinbelow set forth.

NOW, THEREFORE, for and in consideration of the foregoing premises and the covenants hereinafter stipulated, the parties hereby agree as follows:

1.Term: This lease shall be for a duration of _________ (____) year commencing from _____________ and to end on _____________, renewable at the option of the LESSEE at such new terms and conditions as may agreed upon by the parties.

2.Rental: The LESSEE agrees to pay the LESSOR the monthly rental fee of Pesos: __________________________ (P_____________), Philippine currency. Upon signing of this Contract of Lease, the LESSEE shall pay the LESSOR __________ (_____) months’ rentals in advance to be applied on the last __________ (_____) months of the term of this LEASE.The LESSEE shall also issued ________ (____) post-dated checks covering the monthly rentals for the duration of this LEASE.

3.Deposit: The LESSEE shall also pay the LESSOR the sum of __________ (_____) months deposit of Pesos: _____________ (P___________), Philippine Currency, to guarantee the payment of any damage to the leased premises, unpaid utilities and other obligations to third parties by the LESSEE during the term of the agreement, which deposit shall bear no interest. Unless applied to said damages, unpaid utilities and other obligations to third parties, said deposit shall be returned to the LESSEE within _________ (_____) days after the termination of this agreement: Provided, however, that the deposit cannot be applied to unpaid back rentals owed by the LESSEE prior to the expiration of this agreement. Furthermore, if the LESSEE vacates the premises before the expiration of the period of lease, the total amount of the deposit and advance rentals shall be forfeited in favor of the LESSOR.

4.Association Dues: Association dues per month of Pesos: _____________ (P___________), Philippine Currency or as may be determined by the Association from time to time, including interest or penalties that may be imposed for late payment, shall be for the account of the LESSEE.

5.Use of the Premises: The premises shall be used exclusively for residential purposes only of the LESSEE and the immediate members of (his/her)family and shall not in any way be used for any illegal or unlawful activity or to keep materials, chemicals and other matters considered as fire hazards or nuisance to the building.

6.Improvements: The LESSEE shall not make any alteration, structural changes or improvement in the leased premises without the prior written consent of the LESSOR. However, at the termination of the lease, the same not having been renewed by the parties, the LESSEE shall restore the leased premises in its original state existing at the commencement of the agreement. Restoration of the LEASED PREMISES shall be for the exclusive account of the LESSEE. Any improvement after the lease is terminated and after the LESSEE shall have vacated the premises shall belong to the LESSOR.

7.Facilities: All charges for water, electricity, telephone, association dues and other public utilities used in the leased premises as well as janitorial and security services or any other charges as may be imposed by the building administrator of the condominium building shall be for the account of the LESSEE. The LESSEE hereby guarantee the prompt payment of any and all charges heretofore mentioned as they fall due. Any delay in the payment thereof shall constitute a material breach of this agreement.

8.Insurance: The LESSOR shall insure the leased premises against fire. Should the leased premises be damaged by fire, earthquake, storm or any fortuitous events to the extent that the same be rendered untenable this agreement shall be automatically canceled and the deposit as well as the unused portion of the advance rentals be refunded within _____________ (_______) days, minus any unpaid obligation.

9.Repairs: The LESSEE shall, during the duration of the lease, make all minor repairs on the leased premises to preserve the same in serviceable or tenantable conditions at the LESSEE’s expense except replacement of parts due to natural wear and tear. The LESSEE, however, shall give advance written notice to the LESSOR of Ten (10) days prior to undertaking any minor repair. All damages caused to the leased premises due to the fault, misuse, carelessness, and/or negligence or on account of the use thereof by the LESSEE and other occupants therein shall be made good and repaired by the repairs done. Should the LESSEE fails to make the necessary and appropriate repairs within five (5) days from demand, the LESSOR shall undertake the needed repairs and shall charge the costs thereof to the LESSEE.

10. Inspection of the Premises: To ensure that the lease premises is being maintained in good and tenantable conditions, the LESSOR or his authorized representative is hereby given the right after due notice, to enter and inspect any part of the leased premises during reasonable hours and as the occasion thereof might require.

11. Assignment and Sub-Lease: The LESSEE hereby shall have no right to assign or transfer its rights, interest and obligations under the lease contract or sub-lease contract premises or any portion thereof to any person or entity without the prior written consent of the LESSOR.

12. Injury or Damage: The LESSEE hereby assumes the full responsibility for any damage which may be caused to the person or property of any third person in the leased premises during the duration of the lease. LESSEE further binds himself to hold the LESSOR free and harmless from damages as a result thereof, unless such damage or liability arose out of structural or other inherent defects in the leased premises or is due to the fault of the LESSOR, his agent or representatives.

13. Sale of Leased Premises: The LESSEE recognizes the right of the LESSOR to sell or otherwise convey ownership of the leased premises to any other interested party, provided the LESSEE’s rights under the lease are respected.

14. Hazardous and Prohibited Materials:The LESSEE shall not keep or store in the lease premise any hazardous and obnoxious substance or inflammable material or substance that might constitute a fire hazard or other chemicals and materials or prohibitive drugs in violations of the laws of the Philippines.

15. Rules and Regulations: The LESSEE binds himself to comply with the existing rules and regulations promulgated by the building administrator and/or association and any other environmental or other laws, ordinances, rules and regulations applicable to the leased premises.

16. Violations: The LESSOR may, at this options, consider this agreement automatically rescinded and canceled, without need of any court action, upon ten (10) days notice given to the LESSEE based on any of the following grounds:

a.Failure of the LESSEE to pay two (2) months advance rental and other bills or charges therefore mentioned as they fall due for any reason whatsoever within the period to pay.

b.For any violation made by the LESSEE or its agents and representatives of any of the terms and conditions stipulated in this contract.

c.In case the leased premises shall be vacated or abandoned for a period of thirty (30) days without prior written notice to the LESSOR. Consequently, the LESSOR is hereby permitted authorized by the LESSEE to enter the premises, either by force or otherwise, without being liable to prosecution therefor.

Upon termination of the contact of lease based on any of the foregoing grounds and upon demand, the LESSEE shall immediately vacated and peacefully surrender possession of the lease premises to the LESSOR or his duly authorize representative.

17. Remedies: In addition to the provisions of the proceeding paragraph, the LESSEE hereby acknowledges and recognizes the right of the LESSOR to avail or resort to any or all of the following remedial measures without need of court action:

a.In case of failure of the LESSEE to pay or settle any due and unpaid obligations (rentals, electricity, water, telephone, association dues etc.) as provided for under this lease contract , the LESSEE hereby authorizes the LESSOR, who is hereby given the right, to disconnect all facilities such as but not limited to disconnect all facilities such as but not limited to electricity, telephone, water in the leased premises without need of further notice to the LESSEE.

b.Likewise, until the aforesaid unpaid obligations are paid or settled, the LESSEE hereby given the rights, to re-renter the lease premises, remove all persons therefrom, take possession of any of all furniture, fixtures and equipment’s found thereon or therein and/or padlocked the door of the premises.

c.Moreover, by way of a security or to secure the payment of any of the unpaid obligations of the LESSEE , the LESSEE consents and authorizes the LESSOR to retain possession of any of all the furniture, fixtures and equipment’s that may found on the premises as belongings to the LESSEE until such time that all the unpaid obligations of the LESSEE are paid or settled.

d.If after ten (10) days from the date the LESSOR shall have taken possession of the aforesaid furniture, fixtures and equipment by way of security, the LESSEE still fails to pay or settle its unpaid obligations to the LESSOR the LESSEE hereby consents and authorizes the LESSOR to sell by way of public or private sale any or all the furniture’s fixtures equipment as may be sufficient to pay or settle the lessee’s unpaid obligations plus the accrued interests and attorney’s fee equivalent to 25% of the total amount due and unpaid. All expenses that may be incurred in the sale shall be for the account of the LESSEE.

For purposes of selling the aforesaid properties, the LESSEE hereby irrevocably appoint the LESSOR as its attorney-in-fact to sell and dispose of any or all of the aforesaid the property of the LESSEE in a private or public sale at a price as may be determined to be just and reasonable by the LESSOR and to apply the proceeds therefrom to any or all the unpaid obligations of the LESSEE.

If the sale proceeds should proved to be inadequate to fully payer settle the unpaid obligations of the LESSEE, the LESSEE shall remain liable to the LESSOR for any of the deficiency.

Should the proceeds of the sale of any of the aforesaid properties be sufficient to pay or settle all of the lessee’s unpaid obligations, the LESSEE may get back its other properties not sold by the LESSOR. If after thirty(30) days from written notice of the LESSOR directed to the last known address of the LESSEE, the LESSEE still fails to get back the remaining properties, said properties shall then be deemed abandoned in favor of the LESSOR.

The above enumerated remedies oproved for the LESSOR shall not be exclusive, but shall be cumulative and without prejudice to any court action that may be instituted by the LESSOR for any causes of action that may arise under this contract of lease.

18. Attorney’s Fee: In case the LESSOR resorts to judicial action base upon or in connection with this lease contract, the LESSEE hereby agrees to pay attorney’s fee equivalent to _____________ (_______%) percent of the total amount involved pr claimed by the LESSOR as against the LESSEE plus all court expenses and/or costs of litigation.

19. Venue: All court actions from this contact of lease shall be filed only in the proper courts of _____________, Philippines to exclusion of all other courts.

20. Time of Essense: Time is the essence hereof any waiver by the LESSOR of a breach of any term, covenant or condition herein contained, whether express or implied, shall not constitute of a waiver of any subsequent breach thereof, or a breach of covenant to pay the rent so accepted. No waiver by the LESSOR shall be deemed to have been made unless expressed in writing and signed by the LESSOR.

IN WITNESS WHEREOF, the parties have hereunto set their hands, this _____________ at _____________, Philippines.

LESSOR LESSEE

SIGNED IN THE PRESENCE OF:

__________________ _________________

(ACKNOWLEDGMENT)

Contract of Lease Commercial Building

CONTRACT OF LEASE

KNOW ALL MEN BY THESE PRESENTS:

This Contract of Lease, made and entered into, by and between:

_____________, of legal age, Filipino, (single / married / widow), and a resident of _____________, Philippines, (hereinafter referred to as the “LESSOR”

and

_____________, a domestic corporation duly organized and existing under and by virtue of the laws of the Republic of the Philippines, with principal office at _____________, and represented in this act by its __Position__, __Name of Officer__, (hereinafter referred to as the “LESSEE”);

WITNESSETH; that –

WHEREAS, the LESSOR is the registered owner of a building known as _____________ situated at _____________,Philippines.

WHEREAS, the Lessor desires to lease out a portion of the afore-described property in favor of the LESSEE and the LESSEE accepts the lease subject to the terms and conditions herein set forth.

NOW, THEREFORE, for and in consideration of the foregoing premises and the covenants hereinafter stipulated, the parties hereby agree as follows:

ARTICLE I PROPERTIES FOR LEASE

1.The LESSOR hereby transfers and conveys by way of LEASE in favor of the LESSEE a portion of the afore-stated properties (hereinafter referred to as the Leased Properties) specifically described as follows:

Bldg. Portion App. Covered Flr. Area ____________ ___________________

2.Inspection; No Warranty. – The LESSOR leases the Leased Properties to the LESSEE on an “as is, where is” basis. The LESSEE hereby declares that it has inspected the Leased Properties prior to the execution of this Lease Agreement, and acknowledges that it is fully satisfied with the conditions thereof. The LESSOR makes no warranty as to the condition, operational or structural capability, or as to any hidden defects of the Property which the LESSEE warrants to know by virtue of the LESSEE’s duty to inspect.

3. Condition Precedent. – It is a condition precedent for the effectivity of this Lease Agreement that the LESSEE submits to the LESSOR a copy of its Articles of Incorporation and By-Laws and latest General Information Sheet including a Board Resolution specifically authorizing the corporation and the person representing the same in this instance to enter into this lease agreement with the LESSOR under the terms and conditions contained herein.

ARTICLE II CONSIDERATION

1. Rental Payment and Escalation Clause.- Within the first five (5) days of each calendar month, the LESSEE shall pay the LESSOR a monthly rent at the rate of __________________________ (P_____________) per square meter or the total amount of __________________________ (P_____________). In addition, the monthly rent shall escalate yearly by _____________ (_____%) percent of the base monthly rent starting on the _____________ year and each year thereafter until the termination of this contract, the base rent being understood to be the monthly rent applicable for the said year as opposed to the original rent provided above.

2. Advance Rental Payment.-Within five (5) days from the signing of this Lease Agreement, the LESSEE shall remit to the LESSOR an amount equivalent to __________ (_____) months rent or the total sum of __________________________ (P_____________) to be applied as rental payment for the last two (2) months of this contract.

3.Security Deposit. – Within five (5) days upon the signing of this Lease Agreement, the LESSEE shall remit to the LESSOR an amount equivalent to _____________ (_______) month’s rent or __________________________ (P___________) to serve as security deposit for any unpaid utility bills such as electricity, water, telephone, sanitation, sewerage and others, and to answer for any damages which the Leased Properties may suffer as well as to cover any unpaid monthly rent; interests or penalties. This amount is refundable to the LESSEE free of any interest thirty (30) days after the termination of this Lease Agreement subject to deduction for whatever utility bills and monthly rentals, interests, penalties that have remained unpaid and damages that may have been incurred, provided, that the LESSEE shall still be liable for any and all bills, rentals, interests, penalties and damages that may exceed this security deposit. The LESSEE shall not be allowed to offset or use its security deposit as its monthly rental payment.

ARTICLE III TERM OF LEASE

1. Term. – Unless earlier terminated for reasons specified herein, the term of this Lease Agreement shall be for _____________ (_____) years to start on _____________ and end at noontime on _____________ renewable upon mutual agreement of the parties.

ARTICLE IV PURPOSE OF THE LEASE

1. Use of the Leased Properties. – The LESSEE shall use the Leased Properties strictly and exclusively as __________________________. If the Leased Properties are used for other purposes, the LESSOR has the choice to:

(i)Rescind the Lease Agreement; or

(ii)Increase the rent; or

(iii)Compel the LESSEE to stop the new activities.

In no case shall the Leased Properties be used for immoral or illicit purposes and illegal acts or purposes.

2. Sub-Lease. – The LESSEE may sub-lease the Leased Properties; provided, that it has secured the prior express written consent of the LESSOR and that the provisions of this Lease Agreement is incorporated by reference in the proposed sub-lease; provided, further, that the purpose of the sub-lease will be substantially similar to that of the original lease provided, finally, that if the LESSOR so consents to the sub-lease, the LESSOR shall receive a fixed percentage of ten (10%) of the sub-lease rates over and above the regular rent already collected under this Lease Agreement.

It is understood that the LESSEE shall act as the surety of the sub-lessee for purposes of this Lease Agreement. The LESSEE shall provide LESSOR with a copy of the sub-lease agreement not later than ten (10) days after the execution of the sub-lease agreement. In addition, the LESSEE shall remit LESSOR’S percentage participation in the sub-lease rentals within the first five (5) days of each calendar month.

ARTICLE V DEFAULT

1. Interest Payment. – In the event the LESSEE fails to pay its monthly rent within the first five (5) days of each month, the LESSOR shall charge interest on the monthly rent at the rate of _____________ (______%) percent per month, which shall be compounded monthly until full payment is made.

Furthermore and whenever applicable, in the event the LESSEE fails to remit the LESSOR’S percentage participation in the sub-lease rentals within the first five (5) days of each month, the LESSOR shall charge interest on the LESSOR’S percentage participation in the sub-lease rentals at the rate of _____________ (______%) percent per month, which shall be compounded monthly until full payment is made.

ARTICLE VI CANCELLATION

1.Grounds for Cancellation. – The LESSOR may cancel or terminate this Lease Agreement, upon the happening of any of the following events:

2.1. The LESSEE fails to pay its monthly rent when the same falls due.

2.2. The LESSEE fails to remit LESSOR’S percentage participation in the sub-lease rentals, if any, when the same falls due.

2.3. The LESSEE uses the Leased Properties for purposes other than those specified herein, without prejudice to the options available to LESSOR under Section 1, Article IV hereof.

2.4. The LESSEE violates any of the other terms and conditions of this Lease Agreement or fails to get the necessary permits from the national and/or local government units / agencies.

ARTICLE VII MISCELLANEOUS

1. Insurance. – The LESSEE shall obtain insurance coverage for the Leased Properties, against all insurable risks applicable from a duly accredited and reputable insurance company in an amount equal to the maximum insurable value of the Leased Properties. The LESSOR shall be the Beneficiary of the required Insurance. In case of complete loss or damage to the Leased Properties, and/or the improvements therein, during the term of this lease, the LESSOR shall have the option to reconstruct or restore the lost or damaged Leased Properties, and/or the improvements therein, to their original condition or to consider this lease automatically terminated. In case of damage in part, rental shall be reduced in proportion to the remaining tenantable or useable area.

2. Utilities. – All expenses for water, electricity, telephone, sanitation, sewerage, gas and other public utility services shall be for the account of the LESSEE. The cost of installation of utilities within the Leased Properties, such as water and electricity, shall be for the account of the LESSEE; provided, that any installation shall be under the control and supervision of the LESSOR and the latter has the right to indicate where the meter connections shall be placed.

3. Improvements. – The LESSEE shall not make any structural changes, alterations, additions or improvements on the Leased Properties without the prior written consent of the LESSOR. Any alterations or improvements made or introduced by the LESSEE on the Leased Properties with the written consent of the LESSOR shall, upon the termination of this Lease Agreement, automatically be owned by the LESSOR without any obligation on the part of the LESSOR to pay or refund its value or cost to the LESSEE.

4. Signs and Advertisements. – Subject to prior written consent of the LESSOR, the LESSEE may install, erect or affix upon the Leased Properties, signs or advertisements as may be necessary to promote and/or advertise the business in which it is engaged in. In requesting the approval of the LESSOR, LESSEE should submit a description and the specification of its proposed sign or advertisement.

5. Care of Leased Properties. – The LESSEE shall, at its own expense, maintain the Leased Properties in a clean and sanitary condition free from noxious odors, disturbing noises or other nuisances. The LESSEE, its employees, agents or representatives shall not in any manner damage or deface any part of the Leased Properties.

The LESSEE shall comply with any and all reasonable rules and safety regulations which may be promulgated from time to time by the LESSOR, together with all the rules, regulations, ordinances or laws made by the duly constituted authorities; either by the National or City government or any of its agencies and instrumentalities, arising from or regarding the use, occupancy and sanitation of the Leased Properties.

6. General Maintenance, Sanitation, Repairs and Safety. – The cost of general maintenance and upkeep of the Leased Properties shall be for the account of the LESSEE. The LESSEE shall keep the Leased Properties in a clean, safe and sanitary condition and introduce all the needed repairs at all times. The LESSEE shall dispose all its garbage, waste, and other pollutants in accordance with the rules promulgated by the national or local government. All major repairs resulting from damages not attributable to the LESSEE’s negligence shall be for the account of the LESSOR. For purposes of this contract, repairs in amount not exceeding TWENTY THOUSAND PESOS (P20,000,00) per occurrence of repairs shall be considered as minor repairs.

In case of damage to the Leased Properties or its appurtenances by fire, earthquake, volcanic eruption, war or any unforeseen cause, the LESSEE shall give notice to the LESSOR within a reasonable time. In the event that the LESSEE through its own fault or negligence or that of its employees, agents or representatives, damages the Leased Properties, and LESSEE fails to repair the damage within a reasonable time, then the LESSEE shall be liable to LESSOR for liquidated damages in an amount equivalent to six months rent without prejudice to such other amounts as may be due LESSOR under this Lease Agreement and/or the law.

7. Fire Hazard and Obnoxious Substances. – The LESSEE shall not introduce, keep, deposit or store in the Leased Properties any obnoxious substance or inflammable material or substance not reasonably connected with the herein stated purpose of the lease which might constitute a fire hazard, without the prior written consent of the LESSOR. The LESSEE shall also not install within the Leased Properties any apparatus, machinery or equipment which may cause obnoxious tremors or noises nor store newspapers, cartons, wood, or other articles of light nature which may expose the Leased Properties to fire or increase the fire hazard of the Leased Properties or change its insurance rate.

8. Inspection of Premises. – The LESSOR reserves the right to enter and inspect the Leased Properties at reasonable times during business hours and with prior notice. The LESSEE agrees to cooperate with the LESSOR in keeping the Leased Properties in good and tenantable condition.

9. Assignment. – The LESSOR reserves the right to assign, transfer or encumber any of its rights and interests under this Lease Agreement to any entity without the need of obtaining the consent of the LESSEE except to notify the latter of the same. In the event of such transfer, assignment or encumbrance, the rights and interest of the LESSEE under this Lease Agreement shall be respected and observed in its entirety by such assignee, transferee or mortgagee, and for the entire term hereof unless otherwise mutually agreed upon by the parties including the LESSEE.

10. Return of Premises. – Upon the termination of this Lease Agreement for any reason whatsoever, the LESSEE shall peacefully and immediately vacate the Leased Properties and return possession thereof to the LESSOR in good and tenantable condition, devoid of all occupants, equipment and effects of any kind. Failure of the LESSEE to return the Leased Properties as provided herein shall make it liable to pay liquidated damages to the LESSOR in an amount equivalent to six (6) months rent without prejudice to such other amounts as may be due LESSOR and/or such other remedies available to the LESSOR under this Lease Agreement and/or under the law.

11. Right to Enter the Premises to Recover Actual Possession.- Upon the failure of the LESSEE, or the sub-lessee as the case may be, to comply with any of the terms and conditions of this lease or its failure to vacate and return the premises as provided herein, the LESSOR or her authorized representative(s) shall have the right, upon five (5) days written notice to the LESSEE, or upon written notice posted at the entrance of the Leased Properties for the same period, to enter and take possession of the said premises, without need of resorting to any court action, holding, taking custody and impounding such possessions and belongings of the LESSEE found therein after conducting an inventory of the same in the presence of witnesses, until such time that all the rentals, interests, penalties, unpaid utility bills, damages or other amounts due to the LESSOR has been fully settled by the LESSEE. All these acts being hereby agreed to by the LESSEE as tantamount to his voluntary vacation of the leased premises without necessity of suit in court and authorizing LESSOR to use all necessary and reasonable force to break open doors and to enter the premises and take actual possession thereof, and such entry and use of reasonable force should not be regarded as trespass, nor be sued as such, or in any wise be considered as unlawful.

12. Transfer of Rights. – The LESSEE shall not assign, or transfer or encumber its rights under this lease without the prior written consent of the LESSOR and no right, title or interest thereto or therein shall be conferred on or vested in any other party other than the LESSEE without such written consent.

13. Indemnity. – The LESSEE shall hold LESSOR free and harmless from any loss, damage, injury suffered by the LESSEE, its agents or employees, clients, guests or customers or other third persons arising out of the use of the Leased Properties by LESSEE, its agents, employees, clients, guests, or customers including but not limited to, claims for property damage, personal injury or wrongful death, or losses or damages occasioned by reason of any event or cause which could not be foreseen, or which, though foreseen, were inevitable such as but not limited to fire, earthquake, lightning, typhoons, flood, volcanic eruption, robbery, theft or other crimes. In addition, the LESSOR shall not be liable nor responsible:

(i) For the presence of bugs, vermin, rats, insects, or other similar creatures, if any, in the Leased Properties:

(ii) For the failure of electrical and/or water supply due to causes beyond LESSOR’s control;

(iii) For any injury, loss or damage which the LESSEE, its agents or employees, might sustain while in the Leased Properties due to causes attributable to the fault of said LESSEE, employees, agents and/or representatives, or those of its clients, guests or customers;

(iv) For any damage done or occasioned by, or arising from the plumbing, gas, water, and/or other pipes or air-conditioning system or for the bursting, leaking or destruction of any tank, cistern, washers, and water closets or waste pipelines in, above, upon, or about said Leased Properties, nor for any damage arising from or attributable to acts of negligence of the LESSEE or its agents, employees, representatives or any and all other persons over which the LESSOR has no control.

14. Non-Waiver. – The failure of the LESSOR to insist upon a strict performance of any of the terms, conditions and covenants hereof shall not be deemed a relinquishment or waiver of any of the rights or remedies that the LESSOR may have, nor shall it be construed as a waiver of any subsequent breach or default of its terms, conditions and covenants which shall continue to be in full force and effect. No waiver by the LESSOR of its rights under this Lease Agreement shall be deemed to have been made unless expressed in writing and signed by the LESSOR.

15. Amendments. – Any amendments or additional terms and conditions to this Lease Agreement must be in writing.

16. Venue. – In case of any dispute arising in connection with this Lease Agreement, the parties hereby agree that the venue for the settlement of the dispute shall fall exclusively within the jurisdiction of the proper courts in the City of _____________, Philippines.

IN WITNESS WHEREOF, the parties have set their hands and affixed their signatures this _____________ in the City of _____________, Philippines.

LESSOR LESSEE

SIGNED IN THE PRESENCE OF:

__________________ __________________

(ACKNOWLEDGMENT)