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C O N T R A C T

O F

L E A S E

KNOW ALL MEN BY THESE PRESENTS:


This Contract of Lease is made and executed by and
between:
Crazy Mix Equipz, a Corporation
duly organized and existing under and
by virtue of the laws of the Republic
of the Philippines, with principal
office at 123 Kalayaan, Makati City,
represented herein by its President,
Pepe Smith, and hereinafter referred
to as the LESSOR;
-andBar
Bay,
a
Corporation
duly
organized and existing under and by
virtue of the laws of the Republic of
the Philippines, with principal office
at Burgos Circle, Bonifacio Global
City,
represented
herein
by
its
President, Axel Rody, and hereinafter
referred to as the LESSEE.
WITNESSETH THAT:
WHEREAS, the LESSOR is the owner of
Equipz located at 123 Kalayaan, Makati City;

Crazy

Mix

WHEREAS, the LESSEE has offered a lease-to-own from


the LESSOR the said Lights and Sound Equipment and the
LESSOR has agreed to lease to the LESSEE the Leased
Equipement;
NOW, THEREFORE, for and in consideration of the
foregoing equipment and the maintenance with warranty
thereof,
the mutual covenants hereinafter contained,
the Parties hereby enter into this Contract of Lease,
under the following terms and conditions:
1.General Terms of the Lease
1.01. Lease. LESSOR hereby leases, lets, and delivers
by way of lease, and LESSEE hereby accepts under
the terms of this Contract, the Leased Premises.
1.02. Leased Equipment.

(a) The
Leased
Equipment
comprises
of
the
following:
a.Two Multi-system sound mixer
b.Six (6) cordless microphones with two (2)
microphone stands
c.Four (4) Fender Wall Speakers
d.Two (2) Electric Guitars and Amplifiers
e.One (1) Bass Guitar
f.Eight (8) 3.55mm jack cord
g.One (1) Drumset
h.One Mirror Ball
i.Four (4) Spotlights
(b) Maintenance and Warranty. The LESSOR hereby:
a.Allocates two (2) maintenance periods to be
conducted every first and third Sunday of
the month for one year which shall form
part of the Equipment Care. Days of
maintenance, other than on a Sunday, shall
be allowed, subject to coordination with
the Equipment Security Manager.
b.In case of physical damage due to its
usage, it will highly be advised to inform
the
Equipment
Security
Manager
for
replacement or repair of the said lights
and sound system.
c.The Lessor will not be liable for damages
caused by negligence such as:
i. Spilled liquids over the machine, i.e.
sound mixer
ii. Wrong placement of line wires
iii. Failure to regulate the temperature
iv. Any damage that goes beyond the use of
the lights and sound equipment.
2.Lease Term and Renewal
2.01 Lease Period. Subject to the fulfilment of the
terms and conditions set forth in this Contract,
this lease-to-own shall be effective for a fixed
period of one (1) year commencing on December 12,
2015 up to December 12, 2016.
2.02 Rights Over The Equipment.
This Contract
expressly states the transfer of real rights over
the equipment from LESSOR to the LESSEE, including
the documents, legal papers and receipt upon the
expiration of the Lease Period.
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2.03 Early Termination. The LESSEE shall be granted


the option of early termination provided that post
dated
checks
shall
be
issued.
Such
early
termination
rights
shall
be
extinguish
the
agreement on the transfer of real rights over the
said equipment.
3.Rent
3.01 Rent. The LESSEE shall pay to the LESSOR or its
duly authorized representative/s, by way of rent
for the use and occupancy of the Leased Premises,
Philippine Peso: TWO HUNDRED NINETY NINE THOUSAND
FIVE HUNDRED (PhP299,500.00) per quarter for the
Leased Equipment without necessity of demand and
without delay.
3.02 Advance Rent. Upon signing of this Contract,
the LESSEE shall pay the LESSOR advance rent in
the amount equivalent to TWENTY THREE THOUSAND
FOUR HUNDRED FORTY PESOS (PhP23,440.00). The
advance rent shall be applied against the rent due
for the first three months of the lease. The VAT
associate with the advance rent shall be payable
upon signing of this Contract.
3.03 Security Deposit.
The LESSEE shall pay a
security deposit equivalent to one (1) month rent
upon signing of this Contract. The security
deposit may be applied only to any unpaid rentals,
dues, utilities or any damage to the Leased
Premises in case of non-renewal, at the end of the
Lease Term. The security deposit shall accordingly
be adjusted to any escalation on the rent,
pursuant to Section 3.01 above.
It is understood that the security deposit shall
not earn interest and it is not intended to be a
measure of damages that the LESSOR may collect
from the LESSEE under this Contract. Subject to
the provisions of Section 2 above, the security
deposit shall be refunded by the LESSOR to the
LESSEE within sixty (60) calendar days from the
date the LESSEE actually vacates the Leased
Premises at the end of the lease term, after
deducting all unpaid accounts of the LESSEE. In
the event that the Contract is renewed, as
provided under Section 2.2, the security deposit
shall be considered as carried-over to the new
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term of the lease.


Provided that the adjustment
on security deposit mentioned in the immediately
preceding paragraph is accordingly applied.
17. Notices
17.01 Notices.
All notices required under this
Contract shall be given by personal delivery, or
by registered mail or reputable courier services,
(postage prepaid and properly addressed), or sent
via facsimile or electronic mail (with the
necessary
transmission
details
as
specified
herein). Notices shall be addressed to the party
as follows:
To the LESSOR:
______________________________
______________________________
______________________________
Telephone Nos.:
Fax No.:
Email:
Attention:
To the LESSEE:
______________________________
______________________________
______________________________
Telephone Nos.:
Fax No.:
Email:
Attention:
All notices shall be deemed served:
(a) If personally served by being left at the
address of the party to whom the notice is
given between the hours of 8:00 a.m. and 5:00
p.m. on any business day, then at the time the
notice is duly received;
(b) If sent by registered mail,
business days after mailing;

upon

seven

(7)

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(c) If sent by reputable courier service, on the


business day following the date the notice is
deposited with the courier; or
(d) If sent by facsimile or electronic mail, then
in such cases when successfully transmitted
during business hours, or if not transmitted
during business hours, then when business hours
next commence.
Any Party may change its address for receipt of
notices at any time giving written notice
thereof to the other Party. The duly authorized
representative of the Party may sign any notice
given under this Contract on behalf of any
party.
19. Assignment
19.01 Assignment.
The LESSEE may not assign or
transfer this Contract or any of its rights and
responsibilities herein without the prior written
consent of the LESSOR.
20. Confidentiality
20.01 Confidentiality. LESSOR and LESSEE agree that
all aspects of this document and any subsequent
correspondence and conversations shall be kept
Private and Confidential between LESSOR and
LESSEE.
21. Miscellaneous
21.01 Amendments. Neither this Contract nor any term
hereon
may
be
amended,
modified,
waived,
discharged or terminated orally, but only by an
instrument in writing signed by the parties
hereto.
21.02 Binding Effect. All the terms, covenants,
conditions and provisions of the Contract shall
be binding and enforceable upon the parties and
their
heirs,
executors,
administrators,
principals, successors-in-interest and assigns.
21.05 Separability. In case any one or more of
provisions contained in this Contract shall
held invalid, illegal, or unenforceable in
aspect,
the
validity,
legality,

the
be
any
and

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enforceability
of
the
remaining
provisions
contained herein shall not in any way be affected
or impaired thereby.
21.06 Governing Law. This Contract shall be governed
by and construed in accordance with the laws of
the Republic of the Philippines.
21.07 Litigation/Court Action. Any legal action or
proceeding arising out of or connected with this
Contract and any and all relative documents shall
be brought exclusively in the proper courts of
the City of Taguig only to the exclusion of all
of the courts elsewhere situated. By execution
and delivery of this Contract, the parties hereby
irrevocably submitted to such venue to the
exclusion of all other venues.
21.08 Judicial Relief.
(a)

Should either Party be compelled to seek


judicial relief against the other, the latter
shall, in addition to the payment of damages as
provided for in this Contract, pay liquidated
damages in the amount of Philippine Peso: ONE
HUNDRED THOUSAND (PhP100,000.00), aside from
the costs of litigation and other expenses
which the court may entitle the prevailing
party to recover from the party at fault.

(b) Provisions of a penal character in the other


sections of this Contract shall be
considered
as cumulative to the relief granted herein.
IN WITNESS WHEREOF, the parties have hereunto
signed these presents in Makati City on December 12,
2015.

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_________________
LESSOR

____________________________
LESSEE

By:

By:

________________
President

________________________
President

SIGNED IN THE PRESENCE OF:


_____________________ ____

__________________________

ACKNOWLEDGMENT
REPUBLIC OF THE PHILIPPINES
MAKATI CITY

]
] S. S.

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


Makati, on this day ____ day of August 2015, personally
appeared the following:
Axel Rody(Bar Bay)
and
Pepe Smith (Crazy Mix Equipz)
known to me and to me known to be the same persons who
executed the foregoing Contract of Lease consisting of
fourteen (8) pages, including this page on which the
Acknowledgment is written, signed by the parties and
their instrumental witnesses, and acknowledged to me
that the same is their free and voluntary act and deed.

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


first above written.
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Doc. No. _____


Page No. _____
Book No. _____
Series of 2015.

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