You are on page 1of 3

CONTRACT OF LEASE

KNOW ALL MEN BY THESE PRESENTS:

This CONTRACT OF LEASE is made and executed at the City of Cebu, this ______ day of
_______, 2016, by and between:
ELIZABETH L. ROJAS, of legal age, Filipino, owner of ELIZABETH PROPERTIES,
Married and a resident of GIO Homes 1, Windy Hills Banawa, Cebu City and hereinafter called
the LESSOR;
-AND_____________________________, of legal age, Filipino, married and a resident of
_____________________________, Philippines, and hereinafter called the LESSEE,
WITNESSETH:
WHEREAS, the LESSOR is the lawful and absolute owner of a parcel of land together with a
commercial building constructed thereon situated at 110 Urgello St. Samba-I, Cebu City with
TCT No. 107-2016000534.
WHEREAS, the LESSOR hereby grants and lets unto the LESSEE and the latter hereby accepts
to lease the aforementioned properties for commercial and residential purposes;
WHEREFORE, for and in consideration of the foregoing premises, and the commitments herein
established, the parties hereto agree as follows:

TERMS AND CONDITIONS
1. PURPOSES: That premises hereby leased shall be used exclusively by the
LESSEEE for commercial or residential purposes on the ground floor and residential
purposes on the second and third floor only and shall not be diverted to other uses. It
is hereby expressly agreed that if at any time the premises are used for other purposes,
the LESSOR shall have the right to rescind this contract without prejudice to its other
rights under the law.
2. TERM: This CONTRACT OF LEASE shall be for a period of one (1) Year that
commenced last _______________, 2016 and will expire on ______________, 2017.
RENEWABLE to another period under the Terms and Conditions acceptable to both
parties and agreed upon in a separate instrument.
3. RENTAL RATE: The LESSEE shall pay the lessor a monthly rental of Forty Five
Thousand Pesos (P 45,000.00) Philippine Currency, payable every 15 th day of the
month. All rental payment shall be payable to the LESSOR or to any authorized
representatives.
4. DEPOSIT: The LESSEE binds itself to make an advance two months deposit
amounting to Ninety Thousand Pesos (P90, 000.00). The deposit is consumable

5. water and electric consumption during the duration of the lease and should submit the water and electric receipts of payments to the LESSOR. as herein provided. to compel the LESSEE to pay rent therefrom at the same rate plus five (5) percent thereof as penalty until the LESSEE shall have complied with the terms thereof. LESSOR’S RIGHT OF ENTRY: The LESSOR or its authorized representatives shall after giving due notice to the LESSEE shall have the right to enter the premises in the presence of the LESSEE or its representative at any reasonable hour to examine the same or exhibit the leased premises to prospective lessee. unpaid water and electric bills. cable TV. PUBLIC UTILITIES: The LESSEE shall pay its own. the LESSEE will promptly deliver to the LESSOR the leased premises with all corresponding keys and in good and tenable condition as the same is now. 20__ at the City of Cebu. the venue shall be the appropriate trial court exercising jurisdiction over the area where the principal business of the lessor is located. The LESSOR has the right to padlock the premises when the LESSEE is in default of payment for one (1) month and may forfeit the deposit given by the LESSEE. Non-compliance with the terms of this clause by the LESSEE will give the LESSOR the right. or for any other lawful purposes which it may deem necessary. the LESSOR shall impose a 5% interest as a surcharge to the LESSEE for failure to pay on time. DEFAULT PAYMENT: In case of default by the LESSEE in the payment of the rent. 9. 12. REPAIRS: The LESSEE being authorized to sub-lease and use the property for business shall make thereon necessary repairs to the building in order to preserved it in serviceable manner and maintain the cleanliness of the premises to avoid fast deterioration of the building. their successor-in-interest and assigns. and charges which are levied imposed or assessed upon the leased premises. This CONTRACT OF LEASE shall be valid and binding between the parties. 11. 6. may terminate this contract and eject the LESSEE and the LESSEE binds itself to vacate the property within seven (7) calendar days. the parties hereto hereby affix their signatures this _______ day of _____. EXPIRATION OF THE LEASE: At the expiration of the term of this lease or cancellation thereof. at her option. JUDICIAL RELIEF: In case of litigation arising from this contract. The LESSOR shall pay all real property taxes assessments. 10. 8. internet.upon termination and is subject to application for any unforeseen charges on damages to the property. the LESSOR. Philippines . telephone. etc. In case the LESSEE fails to pay for two (2) consecutive monthly rentals. IN WITNESS WHEREOF. 7. SUB-LEASE: The LESSEE is authorized to Sub-Lease any portion of the property in the 2nd and 3rd floor for dormitory or bed spacer and to carry out any commercial business at the ground floor that is with prior approval by the LESSOR. at the latter option.

ROJAS LESSOR OWNER: ELIZABETH PROPERTIES _____________________________ LESSEE SIGNED IN THE PRESENCE OF: 1.______________________ Signature over printed name .ELIZABETH L.___________________________ Signature over printed name 2.