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2. TERM: This term of lease is for three (3) months, from September 01, 2022, to
November 30, 2022, inclusive. Upon its expiration, this lease may be renewed under such
terms and conditions as may be mutually agreed upon by both parties, written notice of
intention to renew the lease shall be served to the LESSOR not later than seven (7) days
prior to the expiry date of the period herein agreed upon.
3. RENTAL: The LESSEE agrees to pay the LESSOR the monthly rental fee of
Pesos: THIRTY-FIVE THOUSAND (P35,000.00), Philippine currency. Upon signing of
this contract of lease, the LESSEE shall pay the LESSOR one (1) month of rental in
advance to be applied on the 1st month of the term of lease. Due to the short period of the
contract (for only three (3) months), the next due date of payment for the second month
will be on October 01, 2022 and the third month’s due date will be on November 01, 2022,
where they are obliged to pay another monthly rental payment.
4. DEPOSIT: The LESSEE shall also pay the LESSOR the sum of one (1) month
deposit of Pesos: THIRTY-FIVE THOUSAND (P35,000.00) Philippine currency,
wherein this one (1) month payment shall be applied as a deposit, to guarantee the payment
of any damage to the leased premises, applied 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 thirty (30) 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 the period of lease, the total amount of the
deposit and advance rentals shall be forfeited in favor of the LESSOR.
6. SUB-LEASE: The LESSEE shall not directly or indirectly sublet, allow, or permit
the leased premises to be occupied in whole or in part by any person, form, or corporation,
neither shall be LESSEE assign its rights hereunder to any other person or entity and no
right of interest thereto or therein shall be conferred on or vested in anyone by the
LESSEE without the LESSOR’S written approval.
7. PUBLIC UTILITIES: The LESSEE shall pay for its electric, telephone, cable
TV, internet and other public services and utilities during the duration of the lease.
11. JUDICIAL RELIEF: Should any one of the parties herein be compelled to seek
judicial relief against the other, the losing party shall pay an amount of One Hundred
(100%) of the amount claimed in the complaint as attorney’s fees which shall in no case
be less than Php50,000.00 pesos in addition to other cost and damages which the said
party may be entitled to under the law
12. This CONTRACT OF LEASE shall be valid and binding between the parties, their
successors-in-interest, and assigns.
IN WITNESS THEREOF, parties herein affixed their signatures on the date and
place above written.
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Doc. No.________;
Page No.________;
Book No.________;
Series of 20____.