CONTRACT OF LEASE

KNOW ALL MEN BY THESE PRESENTS:

This contract of lease is made and executed this 23 rd day of June
2014 between:
ANGELO MIGUEL C. LOPEZ, of legal age, Filipino, single, and with
address at Apricot cor. Dates St, Greenwoods Village, Cainta, Rizal,
hereinafter referred to as the LESSOR,
-andRALPH AGBISIT, of legal age, Filipino, single, and with address at
Blk 24 Lot 34 Carnation St. Capitol Park Homes II, Novaliches,
Quezon City, hereinafter referred to as the LESSEE.
WITNESSETH:
WHEREAS, the LESSOR is the registered owner of a 5-hectare
Agricultural land located at Sta Cruz, Rosario, Batangas.
WHEREAS, the LESSEE desires to lease from the LESSOR and the
LESSOR agree to lease unto the LESSEE the whole of the lot to be
used for planting and harvesting bananas.
NOW, THEREFORE, for and in consideration of the foregoing
premises, covenants and stipulations set forth hereunder, the
LESSOR hereby lease and the LESSEE hereby accepts to lease the
same in accordance with the following terms and conditions:
1. CULTIVATION The LESSEE shall work on the land in a manner
and method of cultivation and harvest which will conform to
proven farm practices. He shall cultivate and take care of the
farm, the banana plants, and other improvements on the
landholding as a good father to a family.
2. AGRICULTURAL PRODUCT - That the LESSEE shall devote the
said parcel of land, subject matter of this contract, to the
cultivation of Banana and shall be free to introduce therein
whatever improvements he may deem proper and convenient,
provided that upon the termination of this contract, all

improvements introduced therein by the LESSEE shall remain

and will inure to the benefit of the LESSOR.
3.

RENTAL The rentals to be paid by the LESSEE should be

equivalent to twenty per centum of the average normal harvest
during the three years immediately preceding the date of this
contract deducting the amount used for planting and
harvesting. The rentals shall be paid two weeks after the
harvest is sold, with LESSEE notifying the LESSOR that he will
harvest, three days before the date of harvesting.

4.

UTILITIES During the term of his lease or any extension

thereof, the LESSEE shall pay for any cost of utilities used by the
LESSEE such as electricity, water, telephone and other similar
expenses to the respective utility companies as when they fall
due and before delinquency. All telephones bills during the
duration of this lease shall be for the account of the LESSEE.

5.

PRESERVATION the preservation of the land necessary to

put it in good condition or working order shall be borne by the
LESSEE. All damages or repairs to the property caused by the
natural wear and tear, fault, misuse, carelessness or negligence
of the LESSEE or his family shall be made good and repaired by
the LESSEE. All repairs due to fortuitous events or the natural
acts of GOD shall be borne by the LESSOR.

6. USE OF THE LAND The land leased shall be used exclusively

by the LESSEE as a Farmland for Banana Plants. The Leased
Premise shall not be devoted for immoral use such other
purpose that what is provided above.
7. TAX AND INSURANCE Realty taxes, Income Taxes,
community dues and required insurances on the Leased
Premises shall be the responsibility of and for the account of the
LESSOR. Insurance for any and all contents brought in or
provided by the LESSEE shall be the LESSEE s own
responsibility and account.
8. TERMINATION OF LEASE - The LESSEE in terminating the
lease, shall voluntarily return and surrender possession of the
Leased Premises in as good condition as when it occupied,
reasonable wear and tear excepted without delay whatsoever,
devoid of all occupants, personal articles or effects of any kind
and with written notice served to the LESSOR three (3) months
in advanced.

9. SUBLEASE AND ASSIGMENT The LESSEE shall not sublease

or allow the Leased Premises to be occupied or used in whole or
in part by any other party without the written consent of the
LESSOR.
10. LESSEES RIGHT OF PRE-EMPTION In the event of the
LESSOR decides to sell, the lessee shall have the preferential
right to buy the same.
11. SALE OF LAND In the event of sale, transfer or mortgage
of the Leased Land, the LESSOR shall inform the LESSEE one (1)
week before the said sale, transfer or mortgage take place. The
LESSOR shall then advice the purchaser or mortgagee that all
the terms and conditions of this Contract of Lease shall be
honored, and that the same shall be made of the LESSORs
agreement with the purchaser or mortgagee.
12. BREACH AND DEFAULT The LESSEE and LESSOR agree
that all terms and agreements herein contained shall be
deemed conditions as well as covenants, any breach or default
of any of the terms and conditions of this Contract shall be
sufficient grounds for the aggrieved party to seek such damages
as may be provided by law.
In the event the LESSEE vacates or abandons the premises at
any time during the lease period, or the absence of the persons
under Section Nine of R.A. 3844, to succeed the lessee, in the
event of death or permanent incapacity, the leasehold contract
shall be considered extinguished.
13. AMENDMENTS - This contract constitutes the entire
agreement between the two parties thereto and shall not be
deemed amended or altered in any manner unless such
amendment or alteration is done in writing and signed by the
LESSOR and the LESSEE.
In WITNESS WHEREOF, the parties hereto have hereunto
affixed their respective signatures together with their instrumental
witnesses this 23rd day of June, 2014 at Manila, Philippines

____________________
Angelo Miguel C. Lopez
Lessor

__________________
Ralph Agbisit
Lessee

SIGNED IN THE PRESENCE OF:

__________________

___________________

ACKNOWLEDGEMENT
REPUBLIC OF THE PHILIPPINES)
CITY OF Manila
) S.S

BEFORE ME, a Notary Public for and in _____________________

Philippines , on this _________________, 2014, personally appeared
the following, with their respective Community Tax Certificate
nos. / Passport nos/. to wit :
NAME

CTC NO. PASSPORT NO. DATE/ PLACE OF ISSUE

Angelo Miguel C. Lopez

Ralph Agbisit

_____________

____________

_____________
____________

All known to me the same persons who executed the

foregoing instrument and they acknowledged to me the same is
their free and voluntary act and deed, and that of the entity
represented, consisting of _____ ( ____) pages including the pages
wherein this acknowledgement is written, signed by the parties
and their instrument witnesses on every page hereof.
WITNESS MY HAND AND NOTARIAL SEAL, on the date and
place first above written.
NOTARY PUBLIC
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