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, single, Filipino, and with residence and postal
address at (________________________________), hereinafter referred to as the
LESSOR.
-AND-
(____________________________) Filipino 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, a residential
property situated at (_____________________________________________);
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 (April 15, 2024) to (April 15,
2025) inclusive. 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 EIGHT
THOUSAND FIVEHUNDRED PESOS (P 8,500.00), Philippine Currency. All rental
payments shall be payable to the LESSOR.
4. ADVANCE & DEPOSIT: That the LESSEE shall pay one (1) month advance rent and
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 PESOS: Twenty-five thousand
Five hundred (P 25,500.00), Philippine Currency. wherein the one (1) month deposit
shall be applied as rent for the 12th month and the remaining one (1) month deposit
shall answer partially for damages and any other obligations, for utilities such as Water,
Electricity, CATV, Telephone, Association Dues or 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,
such as when the checks are dishonored, 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.
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 the 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 telephone, electric, cable TV,
water, Internet, association dues and other public services and utilities during the
duration of the lease.
8. 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.
9. EXPIRATION OF LEASE: At the expiration of the term of this lease or cancellation
thereof, as herein provided, the LESSEE will promptly deliver to the LESSOR the leased
premises with all corresponding keys and in as good and tenable condition as the same
is now, ordinary wear and tear expected devoid of all occupants, movable furniture,
articles and effects of any kind. Non-compliance with the terms of this clause by the
LESSEE will give the LESSOR the right, at the latter's option, to refuse to accept the
delivery of the premises and compel the LESSEE to pay rent therefrom at the same rate
plus Twenty Five (25) % thereof as penalty until the LESSEE shall have complied with
the terms hereof. The same penalty shall be imposed in case the LESSEE fails to leave
the premises after the expiration of this Contract of Lease or termination for any reason
whatsoever.
10. 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)
_________________________) S.S
BEFORE ME, personally appeared:
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 ____ page/s, 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 and sealed with my notarial seal.
WITNESS MY HAND AND SEAL, on the date and place first above written.
Notary Public
Doc. No.______;
Page No. ______;
Book No.______;
Series of 20___.
