CONTRACT OF LEASE OF PIECE OF LAND
KNOW ALL MEN BY THESE PRESENTS:
This contract of lease made and entered into, by and between:
LESSOR: , of legal age, Filipino,
single/married/widow, and a resident of , Philippines
with Power of Authority from the heirs of ,
authorized to transact business for them pertaining to the herein described
parcel of land.
LESSEE: , of legal age, Filipino,
single/married, and resident of , Philippines.
WITHNESSTH: That-
WHEREAS, the LESSOR is the authorized representative of the
Property located in , covered by Tax
Declaration No. , more particularly described as
follows:
RESIDENTIAL LOT PROPERTY containing an approximate area of
( ) square meters, bounded on the North
by land of ; on the East, by ; on
the south, by and on the West
by ; boundaries not marked by visible monuments,
with permanent improvements, and with assessed value of
Php for the year .
NOW, THEREFORE, for and in consideration of the foregoing premises,
and the following mutual covenants, undertakings, obligation of terms and
condition, the parties have agreed, as hereby as follows.
1. RENTAL. The monthly rental fee for the Leased Property shall be
PESOS (Php .00) exclusive of Value Added Tax, to be
paid by the LESSEE on or before thirty (30) days after completion and
notarization of this Contract of Lease and every end of the following month
thereafter. It is expressly agreed and understood that the payment of the
rental fee herein stipulated shall be made without the necessity of
express demand and without delay on any ground whatsoever except those
grounds which fundamentally undermine the purpose and object of this
contract.
2. PERIOD OF LEASE. The term of this lease shall be for a period
of ( ) year/s commencing on and
expiring on unless sooner terminated for cause and
in the manner hereunder provided. This Contract of Lease may be renewed
for another years at the option of both parties under such terms and
conditions mutually agreed upon by the parties, LESSOR and LESSEE.
3. COMPLIANCE WITH LAWS, GOVERNMENT RULES AND REGULATIONS
AND REASONABLE DIRECTIVE OF LESSOR. The LESSEE shall comply
with any and all laws, ordinance, regulations or orders of the National or
Local Government authorities arising from or regarding the use, occupation
and sanitation of the Leased Property. The LESSEE shall comply with all
sanitary condition and proper disposal of waste from the Leased Property.
4. IMPROVEMENTS. The LESSEE is allowed to build structures and other
improvements on the said leased property. The LESSOR allows the LESSEE
to expand the structure and other improvement towards the adjacent
foreshore land. It is expressly agreed by the parties herein that any fixed
improvements or renovations that is introduced or will be introduced in the
subject land by the LESSEE shall remain as the property of the LESSEE even
after the expiration of the term of this Contract and shall be disposed of
according to the provisions of the Civil Code.
5. RENEWAL. In the event the LESSOR desires not to renew the contract, the
LESSOR shall notify in writing the LESSEE at least two years before the
expiration of the period agreed. Failure to give the written notice renders the
LESSOR liable for any damage or business losses that the LESSEE may incur
as a result of the non-renewal of the contract. The LESSOR and the LESSEE
have the option to renew this lease under the terms, conditions and
covenants mutually agreeable to both parties.
6. WARRANTY. Undersigned LESSORS expressly warrant and represent that
they have the full authority to lease the said property to LESSEE, and that
the said property is and will be free from any encumbrance and is and will
not be bound by prior and future agreement with third parties.
IN WITNESS, WHEREOF, the parties have set their hands on this
2015 at ,
Philippines.
LESSOR LESSEE
BY: BY:
SIGNED IN THE PRESENCE OF:
Republic of the Philippines )
City of ) S.S.
Before me a Notary Public for and in the City of , this day
of , 2015 personally appeared the following:
CTC/ID
No. Date and Place of Issue
LESSOR
LESSEE
known to me to and to me known to be the same persons who executed the foregoing
Contract of Lease, who acknowledged to me that the same is their true and voluntary act
and deed.
WITNESS MY HAND AND SEAL on the date and place first above written.
Doc. No. ;
Page No. ;
Book No. ;
Series of .
