CONTRACT OF LEASE
KNOW ALL MEN BY THESE PRESENTS:
This CONTRACT OF LEASE is made and executed at the City of _____,
this __ day of _______________, 20__, by and between:
_____________________________, of legal age, Filipino, single/married and
with residence and postal address
at _____________________________________ Cebu City, Philippines,
hereinafter referred to as the LESSOR.
-AND-
________________________________, Filipino, of legal age, _______ and with
residence and postal address at ___________________________________,
hereinafter referred to as the LESSEE.
WITNESSETH; That
WHEREAS, the LESSOR is the owner of THE LEASED PREMISES,
________________________________________________________________________
WHEREAS, the LESSOR agrees to lease-out the property to the
LESSEE and the LESSEE is willing to lease the same;
NOW THEREFORE, for and in consideration of the foregoing
premises, the LESSOR leases unto the LESSEE and the LESSEE hereby
accepts from the LESSOR the LEASED premises, subject to the
following:
TERMS AND CONDITIONS
1. PURPOSES: That premises hereby leased shall be used exclusively
by the LESSEE for residential purposes only and shall not be diverted to
other uses. It is hereby expressly agreed that if at any time the premises
are used for other purposes, the LESSOR shall have the right to rescind
this contract without prejudice to its other rights under the law.
2. TERM: This term of lease is for ONE (1) YEAR. from ________________
to ___________________. Upon its expiration, this lease may be renewed
under such terms and conditions as my 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 RATE: The monthly rental rate for the leased premises
shall be in ____ THOUSAND PESOS (P __,000.00), Philippine Currency.
All rental payments shall be payable to the LESSOR.
4. DEPOSIT: That the LESSEE shall deposit to the LESSOR upon
signing of this contract and prior to move-in an amount equivalent to the
rent for TWO (2) MONTHS or the sum of
_____________________________________ (P ), Philippine
Currency, wherein the two (2) months deposit shall answer partially for
damages and any other obligations, for utilities such as Water,
Electricity, CATV if any, Telephone if any, resulting from violation(s) of
any of the provision of this contract.
5. DEFAULT PAYMENT: In case of default by the LESSEE in the
payment of the rent, the LESSOR at its option may terminate this
contract and eject the LESSEE. The LESSOR has the right to padlock the
premises when the LESSEE is in default of payment for One (1) month
and may forfeit whatever rental deposit or advances have been given by
the LESSEE. However, the LESSEE will be given a grace period of 15
days upon which to settle the unpaid rent. If in case the LESSEE still
cannot pay the unpaid rent after the grace period, the LESSOR shall
automatically padlock the premises and forfeit whatever rental deposit or
advances have been given by the LESSEE
6. SUB-LEASE: The LESSOR shall allow the LESSEE to directly or
indirectly sublet, allow or permit the leased premises to be occupied in
whole or in part by any person for board and lodging purpose, however,
the LESSEE shall not 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 telephone, electric,
cable TV, water, Internet, if there are any and other public services and
utilities during the duration of the lease.
8. FORCE MAJEURE: If whole or any part of the leased premises shall
be destroyed or damaged by fire, flood, lightning, typhoon, earthquake,
storm, riot or any other unforeseen disabling cause of acts of God, as to
render the leased premises during the term substantially unfit for use
and occupation of the LESSEE, then this lease contract may be
terminated without compensation by the LESSOR or by the LESSEE by
notice in writing to the other.
9. LESSOR'S RIGHT OF ENTRY: The LESSOR or its authorized agent
shall after giving due notice to the LESSEE shall have the right to enter
the premises in the presence of the LESSEE or its representative at any
reasonable hour to examine the same or make repairs therein or for the
operation and maintenance of the building or to exhibit the leased
premises to prospective LESSEE, or for any other lawful purposes which
it may deem necessary.
10. PRETERMINATION CLAUSE: Should the LESSEE intends to
preterminate this Contract of Lease, the LESSEE shall inform the
LESSOR within one month prior to the termination. The LESSEE
however shall forfeit her advance deposits to the LESSOR and shall pay
the LESSOR an amount equivalent to ONE (1) rent;
12. This CONTRACT OF LEASE shall be valid and binding between the
parties, their successors-in-interest and assigns.
IN WITNESS WHEREOF, parties herein affixed their signatures on
the date and place above written.
________________________ _____________________
LESSOR LESSEE
Signed in the presence of:
_____________________________ ______________________________
ACKNOWLEDGEMENT
Republic of the Philippines)
City of Cebu ) S.S
BEFORE ME, a Notary Public, in the City of Cebu this ___ day of
___________ 2019, personally appeared:
Name: Evidence of Competent Identity:
Known to me and to me known to be the same persons who executed the
foregoing instrument and acknowledged to me that the same is their free
and voluntary act and deed.
This instrument consisting of 3 pages, including the page on which this
acknowledgement is written, has been signed on each and every page
thereof by the concerned parties and their witnesses, and sealed with my
notarial seal.
WITNESS MY HAND AND SEAL, on the date and place first above
written.
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