CONTRACT OF LEASE

KNOW ALL MEN BY THESE PRESENTS:

This CONTRACT, made and executed at Narvacan, Ilocos Sur, Philippines, by and
between:
ANTONIO D. PIMENTEL JR., of legal age, and a resident of Barangay Sta. Lucia
Narvacan, Ilocos Sur, hereinafter called the LESSOR,
-and-
OTIZA R. DACANAY, also of legal age, single, Filipino citizen and a resident of
Barangay Dasay, Narvacan, Ilocos Sur, hereinafter called the LESSE,
WITNESSETH
WHEREAS, the LESSOR is the registered owner of commercial space situated at
Barangay Paratong, Narvacan, Ilocos Sur.
WHEREAS, the LESSEE desires to lease the above mention commercial space and the
LESSOR is willing to lease the same unto the LESSEE subject to the terms and conditions
stipulated hereunder.
WHEREFORE, for and in consideration of the foregoing and mutual covenants, the
LESSOR has let and leased unto the LESSEE, the aforementioned commercial space according
to the following terms and conditions:
1) That the term of the lease shall be effective until the lessee shall continue doing its
business or until the lessee decides to end the contract.
2) That the monthly rental of the leased premises shall be for Three Thousand Pesos
(Php3,000.00) only and payable on every 5th day of the month.
3) That the LESSEE may pre-terminate the Contract during the period upon notice of at
least sixty days (60).
4) That the LESSORS should provide basic installation of basic utilities such as
electricity which are necessary for the LESSEE’S business.
5) That the LESSEE has always the priority in the said leased premises after the
expiration of the CONTRACT provided that both parties can mutually agreed to the
terms and conditions of a new Contract of Lease.
6) LESSEE shall not sub-lease the leased premises or any part thereof.
7) Any failure of the LESSEE to pay rent or another charges promptly when due or to
comply with any other terms or conditions thereof shall at the options of the
LESSORS and after lawful notice given, forthwith terminate this tenancy.
8) LESSEE shall pay for all power, and telephone services supplied to the said
premises.
9) Finally, the LESSORS and LESSEE hereby certify that they have read or caused to
read to them all the provision of the foregoing CONTRACT, receipt of signed
copies of which is expressly acknowledged by both parties, and that it has signed
copies of which is expressly acknowledged by both parties, and that it has fully
understood the same.

ANTONIO D. PIMENTEL JR. OTIZA R. DACANAY

Lessor Lessee

SIGNED IN THE PRESENCE OF:

___________________________ _____________________________
REPUBLIC OF THE PHILIPPINES )
PROVINCE OF ILOCOS SUR )S.S
MUNICIPALITY OF NARVACAN )

BEFORE ME, a Notary Public for and in the province of Ilocos Sur personally appeared
ANTONIO D. PIMENTEL JR. and OTIZA R. DACANAY who are known to me to be the same
persons who executed the foregoing instrument and acknowledged the same to be their true acts
and voluntary deed.

WITNESS MY HAND AND SEAL on the date and place stated above.

Doc. No. _____

Page No. _____
Book No. _____
Series of 2020