CONTRACT OF LEASE

 
KNOW ALL MEN BY THESE PRESENTS:

This CONTRACT OF LEASE is made and executed at the City of

Santiago, this ____ day of February, 2022, by and between:
 
       SPS. REGGIE D. VALDEZ and CRISENCIA A.
VALDEZ duly represented by JULIET A. DALIMOT
Filipino, of legal age, and resident of Purok 4, Rizal,
Santiago City, hereinafter referred to as the LESSOR;
 
-AND-
 
       SPS. WILFREDO R. BIAG and JOY B. BIAG, of legal
age, married each other, Filipino and a residents of St.
James Subdivision, Batal, Santiago City hereinafter referred
to as the LESSEE.
 
WITNESSETH; That

The LESSOR is the owner of a residential house situated at

Highway Purok 4, Rizal, Santiago City. The LESSOR hereby lease unto
the LESSEE the above mentioned residential building, and the latter
agree to lease the same under the following terms and conditions:
 
1. That the term of this lease shall be for a period of ONE (1)
year and will start on 1st February 2022 upon signing of this contract
and renewable for another period;

2. That the monthly rental of the lease shall be THIRTEEN

THOUSAND PESOS (Php13,000.00), per month; payable in every 1st of
the month. It does not include the monthly homeowner's dues; Upon
signing this contract, the LESSEE shall pay an advance rental
equivalent to one (1) month deposit and one (1) month advance
deposit;

3. The LESSEE agrees that the security deposit cannot be used

in lieu of monthly rental payments;

4. The LESSOR agrees to fully refund the security deposit of

the LESSEE upon successful inspection of the premises when returning
the house to the LESSOR. Any damages or missing items can be
subtracted from the security deposit.

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 5. The LESSEE agrees to replace or refund at replacement
value any household item that is missing, damaged or broken;

6. The LESSEE expressly agree and warrants that the leased

premises shall be exclusively utilized for whatsoever purposes;

7. The LESSEE shall keep the leased premised in good and

habitable condition and any damages caused by the LESSEE in the said
premises shall be to his account;

8. The LESSEE shall pay promptly the electrical, water and

internet bills used in the leased premises so that the same could not be
disrupted for this purpose;

9. The LESSOR is hereby authorized by the LESSEE to inspect

the corresponding billing of the above-mentioned services;

10. The LESSEE shall permit the LESSOR to enter and view the
leased premises at the reasonable hours and with reasonable notice
given;

11. The LESSEE shall not bring into or store in the leased
premises anything of highly inflammable nature or explosive material
that may expose the leased prises to fire;

12. In the event the LESSEE pre-termination of this agreement

for and reason; whatsoever, the LESSOR shall automatically forfeited
the advance rental and deposit he/she made as liquidated damages.

IN WITNESS WHEREOF, the parties have hereunto affixed their

signatures, this ____ day of February, 2022 at Santiago City,
Philippines.
 
SPS REGGIE D. VALDEZ & CRISENCIA A. VALDEZ
duly represented by:

JULIET A. DALIMOT
LESSOR

WILFREDO R. BIAG
LESSEE

JOY B. BIAG

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 LESSEE 
                                              

Signed in the presence of:

 ___________________________ ___________________________
 
ACKNOWLEDGMENT

REPUBLIC OF THE PHILIPPINES}

SANTIAGO C I T Y}:s.s.
x- - - - - - - - - - - - - - - - - - - - - - - - -x

BEFORE ME, this _____ day of February, 2022 at Santiago City,

Philippines, personally appeared:
Name I.D. NO.

JULIET A. DALIMOT VIN: 3135-0252A-KO262-JAD20000

WILFREDO R. BIAG Driv. Lic. No. A04-96-054306
JOY B. BIAG Driv. Lic. No. B12-08-001020

known to me to be the same person who executed the foregoing

instrument, and they acknowledged to me the same to be their free and
voluntary act and deed.
This instrument, consisting of three (3) pages, including the page
on which this acknowledgment is written, has been signed on the left
margin of each and every page thereof by the parties and their
instrumental witnesses sealed with my notarial seal.

WITNESS MY HAND AND NOTARIAL SEAL.

Doc. No. _____

Page No. _____
Book No. ____
Series of 2022.