CONTRACT OF LEASE
This Contract of Lease made and executed this ______day of
____________________ in ______________________ Philippines, by and
between:
RICARDO FLORENCIO L. ONA II, Filipino, of legal age, married and with
residence and postal address at 204 University Avenue, Ayala Alabang Village,
Muntinlupa City, hereinafter known and referred to as the LESSOR/OWNER;
- and –
FRANCIS S. ARANETA, Filipino, of legal age and with residence and
postal address at 31 A. Zobel St., BF Homes, Paranaque City, hereinafter known
and referred to as the LESSEE;
W I T N E S S E T H: That
WHEREAS, the LESSOR is the absolute owner of that land on which
stands a bungalow residential house situated at 33 Zobel St., BF Homes,
Paranaque City.
WHEREAS, the LESSEE desires to lease the above-mentioned premises
and the LESSOR is willing to lease the same unto the LESSEE subject to the
terms and conditions stipulated hereunder:
NOW THEREFORE, for and in consideration of the foregoing and mutual
covenants herein contained, the LESSOR has let and leased unto the LESSEE,
the afore-said residential house and LESSEE hereby accepts the same by way
of lease, according to the following terms and conditions:
1. Terms of Lease: This lease shall be for a period of one (1) year
commencing from 16 November 2005 to 16 November 2006;
2. Payment of Lessee: The partied herein agree that the rental of the
leased premises throughout the period of lease shall be TWENTY
THOUSAND PESOS (P20,000.00), Philippine Currency, per month.
Upon signing of this Contract the LESSEE shall pay the LESSOR the
amount of TWO HUNDRED FORTY THOUSAND PESOS
(P240,000.00) which shall be applied as rental or payments for the
whole term of this contract;
3. Use of the Premises: Occupancy of the leased premises shall be
limited to the LESSEE and their domestic help as drivers and
servants;
4. Residential Purpose: The premises subject matter of this contract
shall be used by the LESSEE for residential purposes only;
5. Fixed Improvement: The LESSEE shall not make any major structural
changes, alterations or improvements in the leased premises without
the written consent of the LESSOR, however, any major alterations or
improvements made or introduced by the LESSEE in the leased
premises with the written consent of the LESSOR shall, upon the
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termination of this leased contract automatically inure to the benefit of
the said premises and become the property of the LESSOR without
any obligation on the latter’s part to refund its value or cost to the
LESSEE;
6. Movable Improvements: The LESSEE may install air-conditioning
units and other movable furnishing, appliances and decorative items
within the leased premises. The LESSEE shall take care of the
removal of these items and shall not cause any such damage to
leased premises, otherwise, LESSOR may charge any such damage
to the LESSEE;
7. Sanitation, Major and Minor Repairs: The LESSEE shall keep the
premises clean and in sanitary condition. The LESSOR shall inspect
the premises leased to determine the same in good and tenantable
condition;
The LESSOR shall be responsible for all the major repairs to be made
on the premises provided the LESSEE shall notify the LESSOR in
advance within a reasonable time and specifying and describing such
major repairs to be made on the water, electrical and sewerage
installations caused by ordinary wear and tear, except repairs that are
due to the fault or negligence of the LESSEE, members of his
household, guests or visitors. Minor repairs shall be for the account of
the LESSEE. For the purposes of clarifying this provision, major
repairs are those costing more than P3,000.00 while minor repairs are
those costing P3,000.00 or less per item of repair in question.
8. Maintenance and Utilities: Maintenance and Utilities: Payment of all
utilities bills including electric bills, telephone bills, association dues
and damages to the property leased, including gardening plants,
grass and hedges and landscape maintenance shall be for the
account of the LESSEE;
9. Fire Hazard and Obnoxious Substances: The LESSEE shall not keep,
deposit, or store in the leased premises any obnoxious substances or
highly inflammable materials or substance that constitute a fire hazard;
10. Third Party Liability: The LESSEE during his occupancy of the leased
premises shall hold the LESSOR free and harmless from any
damages or responsibility to any person or property arising out of or
as consequence of the premises by the LESSEE, his agents,
employees and domestic helper and guests; when such damage or
act of God, such as typhoon, earthquake, flood, etc. are beyond the
control of the LESSEE, the latter shall not be liable to the LESSOR;
11. Inspection of Premises: The LESSEE shall maintain the leased
premises in good tenantable condition and for such purposes the
LESSOR reserves the right at reasonable times to enter and inspect
the premises and to make the necessary repairs thereof. The
LESSEE likewise agrees to cooperate with the LESSOR in keeping
the said premises in good and tenantable condition. Furthermore,
LESSOR must also give advance notice to the LESSEE through the
telephone or a written one before he could enter and inspect the
leased premises;
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12. Sublease and Assignments: The LESSEE shall not sublease or allow
the leased premises to be occupied in whole or in part by any other
person or entity;
13. Encumbrances of Premises: In the event of sale, transfer or
mortgage, or any encumbrances of the same, the LESSOR shall
advise the purchaser, mortgagor or encumbrance that all the terms
and conditions of this Lease Agreement including the provisions for
the renewal thereof shall be respected;
14. Termination by Lessor: In case of any violation of the terms and
conditions stipulated in this Contract, the LESSOR shall have the
unilateral right to terminate this contract prior to the expiration of these
terms by taking either judicial or extrajudicial ejectment. In case of the
latter’s option or remedy, the LESSOR or his duly authorized
representative can immediately take action, actual, physical, complete
and full repossession of the leased premises even without the consent
of the LESSEE;
15. Return of Premises: Upon termination of this Contract of Lease, the
LESSEE shall immediately vacate the premises and return possession
thereof including all the keys of the premises in the same good and
tenantable condition. It is also agreed that LESSEE will provide proof
of full payment of all bills before LESSOR could grant clearance and
release from this Lease Contract;
16. Renewal: This contract shall be renewed upon the terms and
conditions mutually agreed by both parties;
17. 30 Day Written Notice: LESSEE is required to give at least a thirty
(30) day written notice to LESSOR of his desire to renew contract for
another term or to vacate the premises and terminate this Lease
Contract.
18. Any violation on the part of the LESSEE of the terms and conditions
provided for in this Contract shall be sufficient ground for the
termination and revocation of this Contract of Lease.
IN WITNESS WHEREOF, the parties hereto have hereunto affixed their
signatures together with their instrumental witnesses on the date and place first
above-written.
RICARDO FLORENCIO L. ONA II FRANCIS S. ARANETA
Lessor/Owner Lessee
SIGNED IN THE PRESENCE OF:
________________________ ________________________
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REPUBLIC OF THE PHILIPPINES )
) S.S.
BEFORE ME, a Notary Public for and in ________________________
personally appeared, to wit:
NAME CTC DATE/PLACE ISSUED
RICARDO FLORENCIO L.ONA ________ ____________________
FRANCIS ARANETA ________ ____________________
all known to me and to me known to be the same persons who executed the
foregoing Contract of Lease consisting of four (4) pages including this page and
they acknowledge to me that the same is their free and voluntary deed.
IN WITNESS WHEREOF, I have hereunto signed and sealed these
present at the place and on the date herein above written.
Doc. No. __________;
Page No. __________;
Book No. _________;
Series of 2005
