CONTRACT OF LEASE
KNOW ALL MEN BY THESE PRESENTS:
This Contract of Lease is made and entered into by and between :
SHALLIE P. ESPIRITU of legal age, Filipino, married and with residence
address at No. 6 Castro apartment, Brgy. San Bartolome, Sta. Ana, Pampanga,
and hereinafter known as LESSEE; and ____________________ of legal age,
Filipino and presently residing at ___________________________, and herein
referred to as the LESSOR/S;
WITNESSETH:
1. That the LESSOR hereby leases unto the LESSEE/S and the latter herby
accepts the lease from the former, premises known as commercial unit ( 12FT x
26FT ) located at ____________________ Pampanga and over which unit the
LESSOR holds ownership in fee simple, under the following terms and
conditions:
2. TERM: The term shall be for a period of ONE (1) YEAR commencing on
____________ And ending on ____________, and which contract of lease may be
renewed upon a written notice to do so by the LESSEE/S at least sixty (60)
days before the expiration of this contract of lease;
3. RENTAL: The monthly rental of the leased Unit shall be ( Php
____________ ) to be paid in advance on or before the 1st day of each month,
with a grace period of THREE (3) DAYS within which to pay; with TWO (2)
month/s DEPOSIT, ONE (1) month ADVANCED RENTAL, but by agreement the
previous and existing amount of Php______________ Held by the LESSOR from
the LESSEE/S is deemed sufficient; and with 5% rental increment per year;
4. PURPOSE and USE: The LESSEE/S shall use the leased premises
exclusively for commercial purpose only;
5. SUBLEASE and SUBLET or ASSIGNMENT: The LESSEE/S shall not
sublease or re-let or assign the leased premises or any portion thereof without
prior written consent of the LESSOR. In case of sublease or assignment of
lease, the consent of the LESSOR shall be limited to the unexpired portion of
the lease and shall not relieve the LESSEE/S from any obligation under this
contract;
6. UTILITIES: During the term of the lease or any extension thereto, the
LESSEE/S shall pay for and all costs of utilities (water, electricity, telephone
and cable ) to their respective company providers as and when they fall due
and before delinquency;
7. SANITATION / MAINTENANCE / REPAIR / IMPROVEMENT: The
LESSEE shall be responsible for the proper observance of sanitary and
electrical regulations required by or imposed by government utilities regarding
the use and habitation of the leased premises; all ordinary repairs within the
leased premises without right to reimbursements;
8. ALTERATIONS, ADDITIONS, IMPROVEMENTS ETC: LESSEE may,
during the period of this lease contract make renovations, alterations,
additions and installation on the leased premises as may be necessary for
LESSEE’S purpose; provided with written consent to the LESSOR. Permanent
improvements made by the LESSEE on the leases premises shall be owned by
the LESSOR upon the termination of the lease without compensation to the
LESSEE provided that all equipment, machines, effects, furniture and other
movables placed or installed in the lease premises by or at the expense of the
LESSEE shall remain as the property of the LESSEE and shall be taken and
removed by the latter upon the expiration of the lease without defacing the
leased premises
9. VENUE of ACTIONS: Any dispute or controversy which may arise
between the parties herein shall be lodged and tried ‘exclusively” at and by the
court of proper jurisdiction in the 3rd Judicial Region of Pampanga.
IN WITNESS WHEREOF, the parties hereby affix their respective signatures
this ___ day of _______ year _____ at Pampanga, Philippines.
SHALLIE P. ESPIRITU ________________________
Lessee Lessor/s
SIGN IN THE PRECENSE OF:
________________________ _________________________
ACKNOWLEDGMENT
Republic of the Philippines )
_____________, Pampanga ) S.S.
BEFORE ME, a notary public this _______________, personally appeared the
parties, known to me and to me known to be the same persons ( SHALLIE P.
ESPIRITU with TIN 239-663-216 and ______________________ ) who executed
the foregoing Contract of Lease and acknowledgment to me that it is of
their free and voluntary act and deed.
Notary
Public
Doc. No.
Page No.
Book No.
Series of ___________.
