Contract of Lease

CONTRACT OF LEASE

KNOW ALL MEN BY THESE PRESENTS:

This agreement is entered into this ______ day of _______________, 2018, in the City of Taguig, Philippines, by and between:

{ } and { }, of legal ages, Filipinos and with residence at { }, Philippines, as the LESSORS,

-and-

{ }, of legal age, Filipino, and with address of { }, Philippines, known as the LESSEE.

- WITNESSETH THAT-

WHEREAS the LESSORS are the true the owners of { } parcel of land and it’s improvements located at { } as evidence attached in documents Annex "A".

WHEREAS the LESSEE is desirous of leasing the premises of the LESSORS.

NOW THEREFORE, the parties have hereunto agreed as follows:

1. TERM OF THE LEASE. The term of the lease shall be for three (3) years, from { } to { }.

2. RENTAL and PAYMENTS. The monthly rental of the leased property shall be { } Pesos (Php { }) per month.

3. The LESEE will give one (1) month advance payment and two (2) months deposit amounting to { }Pesos Only (Php { }) upon the execution of this Contract.

Monthly rentals will be paid starting{ }

4. TERMS AND CONDITIONS.

1. The LESSEE will shoulder the expenses pertaining to Utilities.

2. The LESSEE will shoulder the expenses pertaining to Water and Electric Bill of the aforementioned property.

3. The LESSEE will shoulder the yearly real estate tax of the above mentioned property.

4. The LESSEE will shoulder the expenses pertaining to the minor repairs of the aforementioned property.

5. The LESSOR will shoulder the yearly tax and monthly dues of the said property.

5. RENEWAL. The parties, upon mutual agreement, may renew this Contract of Lease upon its expiration.

6. PRE-TERMINATION. Pre-termination of the lease shall only be upon mutual agreement of the parties.

7. TERMINATION AND RESCISSION. Violation of any of the above terms and conditions or upon mutual agreement of the parties will cause ipso facto the rescission of this contract of lease. If in the event any of the parties wishes to terminate the contract unilaterally and pre-maturely, he or she may be allowed to do so as long as the other party must be given one (1) month notice prior to the desired date of the termination of this contract.

IN WITNESS THEREOF, we hereunto set our hand this ____ day of ______________, 2018 in the City _____________________, Philippines.

{ }, Lessor 

{ } ID No: { }

Issued by: { }

{ }, Lessor

{ } ID No: { }

Issued by: { }

{ }, Lessee

{ } No. { }

Issued by: { }

ACKNOWLEDGEMENT

REPUBLIC OF THE PHILIPPINES)

CITY OF TAGUIG                   ) Sc

x---------------------------------------------x

BEFORE ME, appeared the above stated parties showing their Identification documents as stated below their names and known to me as the parties who executed this of Contract of Lease and they acknowledged to me as their free and voluntary act and deed.

This document, consist of two (2) pages including this page where this acknowledgement is written, with every page thereof duly signed by the parties including their instrumental witnesses, at the bottom or left margin thereof and seal with notarial seal, refers to a CONTRACT OF LEASE.

Witness my hand and seal this day of _____ day of ______________, 2018,__________________, Philippines.

Doc. No. { }

Page No. { }

Book { }

Series of { }