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:
(NAME OF LESSOR), of legal age, single/married to (Name of spouse
if any), Filipino, and with residence and postal address at (Address),
hereinafter referred to as the LESSOR.
-AND-
(NAME OF LESSEE), Filipino and with residence and postal address at (Address),
hereinafter referred to as the LESSEE.
WITNESSETH; That
WHEREAS, the LESSOR is the owner of THE LEASED PREMISES, a residential property situated at
(Address of property to be leased);
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 (Date) to (Date) 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 PESOS: AMOUNT IN WORDS (P 00,000.00), 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 THREE (3) MONTHS or the sum of PESOS: AMOUNT IN WORDS (P
00,000.00), Philippine Currency. wherein the two (2) months deposit shall
be applied as rent for the 11th and 12th months 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. 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. 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.
11. JUDICIAL RELIEF: Should any one of the parties herein
be compelled to seek judicial relief against the other, the losing party shall
pay an amount of One Hundred (100) % of the amount clamed in the complaint as
attorney's fees which shall in no case be less than P50,000.00 pesos in
addition to other cost and damages which the said party may be entitled to
under the law.
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.
(Name of Lessor)
(Name of Lessee)
LESSOR
LESSEE
Signed in the presence of:
_____________________________
______________________________
ACKNOWLEDGEMENT
Republic of the Philippines)
_________________________) S.S
BEFORE ME, personally appeared:
Name
Identification Card
Date/Place Issued
(Name of Lessor)
SSS ID No. 12345 February
24, 2013 / Cavite City
(Name of
Lessee) SSS ID No. 12345 January 07, 2013 / Makati
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.
Doc. No.______;
Page No. ______;
Book No.______;
Series of 2013.